1404 Vani Dr · Weslaco, TX 78599

$449,000

None bd · None ba · 4,050 sqft · MultiFamily · 185 Days on market

Built 2023 Excellent condition 9,638 sqft lot $111/sqft · 9% below area Est $491k · 9% under $42/mo HOA · 4% of rent

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Why this score? — see what drove the C- 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).

• Cash flow +16.4/30.0
• ARV discount +11.4/15.0
• DSCR +5.1/10.0
• Condition / age +4.8/5.0
• 1% rule +4.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.3/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

FULLY LEASED Multi Family in Prime Location minutes away from Expressway 83!Exceptional investment opportunity in a desirable subdivision with top schools, shopping,and dining.These fourplexes offer modern design, strong tenant appeal,and immediate cash flow.Each unit features a bright open-concept layout with elegant wood-look tile flooring, a contemporary kitchen with custom cabinetry,quartz countertops,and a spacious island providing ample storage and workspace.Bedrooms are generously sized with large closets,and the primary suites include a luxurious frameless glass shower and walk-in closet.Additional highlights include private fenced backyards for every unit,stainless steel appliances,in-unit washer and dryer, and covered carports.This is an outstanding opportunity for investors seeking a low-maintenance,high-demand rental asset in a rapidly growing area.Don’t miss your chance to own a premium multi-family property with long-term value and impressive rental potential.

Key facts

• Custom cabinetry
• Spacious island
• Contemporary kitchen

Tags

• MODERN DESIGN
• BRIGHT OPEN-CONCEPT LAYOUT
• CONTEMPORARY KITCHEN
• CUSTOM CABINETRY
• QUARTZ COUNTERTOPS
• SPACIOUS ISLAND

What this means for you Summary

Snapshot

• This is a multifamily listed at $449k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $430k (4.2% below list).
• Recommended offer: $395k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% vs local median 4.1% in Weslaco — 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 72/100 on livability (#277 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, crime F, amenities F.
• Weslaco ISD (suburban): math 23% / reading 31% proficiency, ranked #705 of 826 in TX (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 231 active listings in the ZIP; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($395k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $395,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.96% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.41%
• DSCR: 1.11
• GRM: 8.7

CMA / ARV

• ARV (median comp): $491,085
• List price: $449,000
• Delta: -8.57%
• Verdict: FAIR
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1408 Vani Dr	0.04mi	—/—	3,988 (-2%)	24mo	$505,000	$127	76

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -12.5%
• Equity multiple: 0.55×
• Total profit: $-56,613
• Equity at exit: $66,947

10-year hold

• IRR: -3.4%
• Equity multiple: 0.78×
• Total profit: $-28,257
• Equity at exit: $38,821

Cash invested: $125,720 (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 78599

• Home prices YoY: -3.7%
• Active inventory: 231
• Price-to-rent: 34.8×

Monthly cashflow live

• Estimated rent: $4,300 high
• Mortgage (P&I): −$2,355
• Tax est. 1.5%: −$561 /mo · $6,735/yr
• Insurance: −$187
• HOA: −$42
• Vacancy / Maint / Mgmt: −$903
• Net cashflow: $252

Break-even live

Break-even rent $3,981

Max offer price $449,000

Occupancy floor 89%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	2	2	$4,300
Total (4 units)			$4,300

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 16 events

1. 2026-06-18
   days on market $449,000 Active 185 DOM
2. 2026-06-17
   days on market $449,000 Active 184 DOM
3. 2026-06-16
   days on market $449,000 Active 183 DOM
4. 2026-06-15
   days on market $449,000 Active 182 DOM
5. 2026-06-15
   days on market $449,000 Active 181 DOM
6. 2026-06-13
   days on market $449,000 Active 180 DOM
7. 2026-06-12
   days on market $449,000 Active 179 DOM
8. 2026-06-09
   days on market $449,000 Active 176 DOM
9. 2026-06-08
   days on market $449,000 Active 175 DOM
10. 2026-06-08
    days on market $449,000 Active 174 DOM
11. 2026-06-07
    days on market $449,000 Active 173 DOM
12. 2026-06-03
    days on market $449,000 Active 170 DOM
13. 2026-06-02
    days on market $449,000 Active 169 DOM
14. 2026-06-01
    days on market $449,000 Active 168 DOM
15. 2026-05-31
    days on market $449,000 Active 167 DOM
16. 2025-12-15
    listed $449,000 Active 994-char remark

    Show marketing remark (994 chars)

    FULLY LEASED Multi Family in Prime Location minutes away from Expressway 83!Exceptional investment opportunity in a desirable subdivision with top schools, shopping,and dining.These fourplexes offer modern design, strong tenant appeal,and immediate cash flow.Each unit features a bright open-concept layout with elegant wood-look tile flooring, a contemporary kitchen with custom cabinetry,quartz countertops,and a spacious island providing ample storage and workspace.Bedrooms are generously sized with large closets,and the primary suites include a luxurious frameless glass shower and walk-in closet.Additional highlights include private fenced backyards for every unit,stainless steel appliances,in-unit washer and dryer, and covered carports.This is an outstanding opportunity for investors seeking a low-maintenance,high-demand rental asset in a rapidly growing area.Don’t miss your chance to own a premium multi-family property with long-term value and impressive rental potential.

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

Climate risk First Street

• 🌊 Flood 6/10 Major 67% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $51,600
• − Mortgage interest: −$25,151
• − Property taxes: −$6,735
• − Insurance: −$2,245
• − Repairs & maintenance: −$4,128
• − Management: −$4,128
• − HOA: −$504
• − Depreciation: −$13,062
• Taxable loss: −$4,353
• Est. tax savings @ 24.0%: +$1,045
• After-tax cash flow: $4,069/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.

Condition & rehab AI · 3 photos

Excellent 95/100 None rehab

This fully leased multi-family property in a prime location offers modern design and immediate cash flow. It is in excellent condition with no visible repairs needed, making it an excellent investment opportunity.

Value-add opportunities

• Both Painting the interior walls — Fresh paint can enhance the home's appeal and value.
• Both Updating the kitchen backsplash — A new backsplash can add a modern touch and increase the home's value.
• Both Adding smart home features — Smart home features can improve convenience and attract tech-savvy buyers/tenants.
• Both Upgrading the flooring in the bathrooms — High-quality flooring in bathrooms can significantly enhance the home's value and appeal.
• Both Landscaping the front yard — A well-maintained and aesthetically pleasing front yard can increase curb appeal and attract more potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the interior walls — Fresh paint can enhance the home's appeal and value. ↑
• Both Updating the kitchen backsplash — A new backsplash can add a modern touch and increase the home's value. ↑
• Both Adding smart home features — Smart home features can improve convenience and attract tech-savvy buyers/tenants. ↑
• Both Upgrading the flooring in the bathrooms — High-quality flooring in bathrooms can significantly enhance the home's value and appeal. ↑
• Both Landscaping the front yard — A well-maintained and aesthetically pleasing front yard can increase curb appeal and attract more potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Weslaco ISD
• NCES district ID: 4844960
• Math proficiency: 23% ▼ -29.00%
• Reading proficiency: 31% ▼ -9.00%
• Median HH income: $32,867
• Composite: 22.05/100
• National rank: #8196
• State rank: #705 of 826 in TX

Livability — Weslaco

• Score: 72/100
• State rank: #277
• US rank: #6469

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Weslaco, TX
• Population (ZIP): 35,400

Population outlook (Hidalgo County) Hauer SSP2

• Today (2025): 955,232 people
• By 2030: 1,009,774 · +5.7%
• By 2040: 1,120,332 · +17.3%
• By 2050: 1,225,036 · +28.2%
• By 2075: 1,439,189 · +50.7%
• By 2100: 1,533,429 · +60.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (96%)
• Race & ethnicity: Hispanic / Latino 96% Two or more races 42% White 2%
• Hispanic origin (detail): Mexican 90%
• Foreign-born: 20% · Canada
• Languages at home: 19% English-only · Spanish 80%

Political lean MEDSL · Hidalgo

• 2024 margin: Toss-up / Even · D 48.1% · R 51.0%
• 2008→2024 swing: -41.6pp toward R · 2008: 38.7pp · 2024: -2.9pp
• All cycles: 2024: R+2.9 2020: D+17.1 2016: D+40.5 2012: D+41.8 2008: D+38.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -9.47%
• Current HPI: 243.5537
• 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

• 2025-12-15 Listed $449,000 MCALLENMLS