32522 Olive Dr · San Benito, TX 78586

$149,000

4 bd · 2.5 ba · 368 sqft · SingleFamily public records · 173 Days on market

Built 2014 6,251 sqft lot $405/sqft · 225% above area Est $172k · 13% under

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Why this score? — see what drove the F grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +13.5/15.0
• Cash flow +7.9/30.0
• Livability +3.3/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.0/10.0
• Schools +1.6/10.0
• 1% rule +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 32522 Olive Dr in San Benito! This inviting 4 bedroom, 2.5 bath home sits on a fully fenced . 14 acres lot and offers incredible functionality inside and out. Step into a spacious kitchen featuring granite countertops and ample cabinetry. Outside, the property is loaded with extras - a workshop currently used for a glass business, a large carport, a storage building and a chicken coop, giving you endless possibilities for hobbies, small business operations, or personal projects. With plenty of room to grow, space to work, create and enjoy, this property delivers outstanding value in a peaceful setting.

Key facts

• Fully fenced
• Storage building
• Large carport

Tags

• FULLY FENCED
• GRANITE COUNTERTOPS
• WORKSHOP
• LARGE CARPORT
• STORAGE BUILDING
• CHICKEN COOP

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $-156 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $121k (18.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $94k (36.7% below list).
• Recommended offer: $94k (36.7% below list) — sets the bar for 1% rule.
• Cap rate 5.0% vs local median 3.7% in San Benito — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 66/100 on livability (#621 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools D-, amenities F.
• San Benito CISD (suburban): math 14% / reading 27% proficiency, ranked #782 of 826 in TX (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 78% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 441 active listings in the ZIP; 2,326 units permitted in Cameron County in 2024 (503 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Cameron County population projected at +3% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 173 days — a 12% lower offer ($131k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $94,251 (36.7% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 173 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.63% ✗
• Cap rate: 5.03%
• Cash-on-cash: -4.50%
• DSCR: 0.80
• GRM: 13.2

CMA / ARV

• ARV (median comp): $171,814
• List price: $149,000
• Delta: -13.28%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -24.0%
• Equity multiple: 0.18×
• Total profit: $-34,166
• Equity at exit: $22,216

10-year hold

• IRR: -19.3%
• Equity multiple: -0.03×
• Total profit: $-42,835
• Equity at exit: $12,883

Cash invested: $41,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 78586

• Home prices YoY: -24.9%
• Active inventory: 441
• Price-to-rent: 13.2×

Monthly cashflow live

• Estimated rent: $943 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$57 /mo · $689/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $-156

Break-even live

Break-even rent $1,140

Max offer price $121,384

Occupancy floor —

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-06-03
   days on market $149,000 Active 173 DOM
2. 2026-06-02
   days on market $149,000 Active 172 DOM
3. 2026-06-01
   days on market $149,000 Active 171 DOM
4. 2026-05-31
   days on market $149,000 Active 170 DOM
5. 2026-05-30
   days on market $149,000 Active 169 DOM
6. 2025-12-12
   listed $149,000 Active 621-char remark

   Show marketing remark (621 chars)

   Welcome to 32522 Olive Dr in San Benito! This inviting 4 bedroom, 2.5 bath home sits on a fully fenced . 14 acres lot and offers incredible functionality inside and out. Step into a spacious kitchen featuring granite countertops and ample cabinetry. Outside, the property is loaded with extras - a workshop currently used for a glass business, a large carport, a storage building and a chicken coop, giving you endless possibilities for hobbies, small business operations, or personal projects. With plenty of room to grow, space to work, create and enjoy, this property delivers outstanding value in a peaceful setting.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $689 · $57/mo
• Projected year-2 tax: $2,727 · $227/mo
• Expected delta: +$2,037/yr (+$170/mo · 295.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,310
• − Mortgage interest: −$8,346
• − Property taxes: −$689
• − Insurance: −$745
• − Repairs & maintenance: −$905
• − Management: −$905
• − Depreciation: −$4,335
• Taxable loss: −$4,615
• Est. tax savings @ 24.0%: +$1,108
• After-tax cash flow: $-768/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: San Benito CISD
• NCES district ID: 4838790
• Math proficiency: 14% ▼ -31.00%
• Reading proficiency: 27% ▼ -10.00%
• Median HH income: $29,403
• Composite: 16.31/100
• National rank: #9212
• State rank: #782 of 826 in TX

Livability — San Benito

• Score: 66/100
• State rank: #621
• US rank: #11846

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment F Housing A+ Health & safety B- User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 49,103

Population outlook (Cameron County) Hauer SSP2

• Today (2025): 441,603 people
• By 2030: 448,113 · +1.5%
• By 2040: 456,385 · +3.3%
• By 2050: 456,294 · +3.3%
• By 2075: 423,851 · -4.0%
• By 2100: 342,787 · -22.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (93%)
• Race & ethnicity: Hispanic / Latino 93% Two or more races 42% White 6%
• Hispanic origin (detail): Mexican 90%
• Foreign-born: 23% · Canada
• Languages at home: 29% English-only · Spanish 70%

Political lean MEDSL · Cameron

• 2024 margin: Lean R (+5.8) · D 46.7% · R 52.5%
• 2008→2024 swing: -34.6pp toward R · 2008: 28.8pp · 2024: -5.8pp
• All cycles: 2024: R+5.8 2020: D+13.2 2016: D+32.5 2012: D+32.4 2008: D+28.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -62.37%
• Current HPI: 188.147
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

1 event — show timeline

• 2025-12-12 Listed $149,000 RGVMLS

Property tax history

+4.5%/yr

Latest (2025): $689 · +20.5% YoY. Source: county tax records.