1702 Playa St · Weslaco, TX 78596

$485,000

None bd · None ba · 3,950 sqft · MultiFamily · 19 Days on market

Built 2023 Good condition 10,149 sqft lot $123/sqft · at area comps Est $490k · at est. $42/mo HOA · 4% of rent ↓ 4% since listing

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Why this score? — see what drove the D+ 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 +14.8/30.0
• ARV discount +7.9/15.0
• Appreciation +4.7/10.0
• DSCR +4.5/10.0
• 1% rule +4.2/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

This well-mainteined 4- unit property is already producing steady rental income with reliable, long term tenants in place. Located in a great location, it offers both stability and growth potential for your portfolio. Each unit features spacious layouts, updated interiors, and low-maintenance finishes designed to keep upkeep costs minimal. The property is professionally managed for hassle-free ownership or take over and self-manage to maximize returns.

Key facts

• 0.23 acre lot
• 8 parking spots
• Built 2023

Property features AI

Finance

• Other: Lot size about 0.233 acres (10,149 sq ft)
• HOA & community: Association managed by Streamline Management; Annual association fee of $500; POA mandatory with a $300 transfer fee

Exterior

• Parking: 8 total parking spaces; 8 covered/carport spaces (carport)
• Security: Gated community; Motorized gate
• Utilities: City sewer; Four separate water meters
• Home design: Single property (2 units in community); Gated community with sidewalks; Property faces not specified
• Construction: Aluminum siding and brick exterior; Metal roof; Slab foundation; Built area approximately 3,950 square feet
• Exterior features: Motorized gate; Wood fencing; Paved road access; Outbuilding present

Interior

• Kitchen: Electric stove/range with coil elements; Refrigerator; Dishwasher not specified
• Flooring: Tile
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Tile flooring
• Laundry & utility: Washer and dryer included; Washer/dryer connections; Electric water heater

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $485k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive. Per door: $34/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $447k (7.9% below list).
• Recommended offer: $447k (7.9% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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.
• Zoned schools: Dr R E Margo El (math 17% / reading 22%, grade F, #3,583 of 4,322 statewide, top 86%, 914 students, 87% FRL); Armando Cuellar Middle (math 22% / reading 31%, grade F, #1,200 of 1,662 statewide, top 73%, 626 students, 88% FRL); Weslaco East H S (math 24% / reading 26%, grade F, #1,250 of 1,632 statewide, top 77%, 2,004 students, 86% FRL) — zoned schools average 87% FRL vs 59% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 711 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).

Forward outlook

• In year one you build about $520 of equity ($3k loan paydown + $-3k appreciation (-0.6% local appreciation)).
• 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 19 days — a 2% lower offer ($478k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $446,600 (7.9% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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 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: 0.92% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.19%
• DSCR: 1.05
• GRM: 9.0

CMA / ARV

• ARV (median comp): $489,652
• List price: $485,000
• Delta: 0.07%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1626 Playa Dr	0.04mi	—/—	4,200 (+6%)	2mo	$485,000	$115	86
1612 Shadow Crk	0.12mi	—/—	4,100 (+4%)	6mo	$485,000	$118	83
1621 Shadow Crk	0.15mi	—/—	4,100 (+4%)	6mo	$485,000	$118	82
1514 Playa Dr	0.14mi	—/—	4,200 (+6%)	3mo	$487,000	$116	81
1618 Playa Dr	0.07mi	—/—	4,200 (+6%)	8mo	$478,000	$114	79
1506 Playa Dr	0.16mi	—/—	4,050 (+2%)	12mo	$480,000	$119	78
1405 Alta Vista Dr	0.35mi	—/—	4,120 (+4%)	4mo	$425,000	$103	74
3822 Las Vistas Ln	0.30mi	—/—	4,386 (+11%)	6mo	$470,000	$107	62

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

Projected returns pro-forma

-0.58% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.86×
• Total profit: $-18,696
• Equity at exit: $126,827

10-year hold

• IRR: 3.3%
• Equity multiple: 1.33×
• Total profit: $44,267
• Equity at exit: $141,683

Cash invested: $135,800 (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 78596

• Home prices YoY: -0.2%
• Active inventory: 711
• Price-to-rent: 36.2×

Monthly cashflow live

• Estimated rent: $4,466 high
• Mortgage (P&I): −$2,543
• Tax est. 1.5%: −$606 /mo · $7,275/yr
• Insurance: −$202
• HOA: −$42
• Vacancy / Maint / Mgmt: −$938
• Net cashflow: $134

Break-even live

Break-even rent $4,296

Max offer price $485,000

Occupancy floor 92%

Sensitivity live

Price	-10% $470	-5% $302	+0% $134	+5% $-33	+10% $-201
Rent	-10% $-218	-5% $-42	+0% $134	+5% $311	+10% $487
Rate	-1.0pp $379	-0.5pp $258	base $134	+0.5pp $9	+1.0pp $-119

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,464
Total (4 units)			$4,466

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: $121,250
• Closing costs: $14,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1604 Shadow CRK Unit 1 Weslaco, TX	2.0	2.0	4100	$1,150	$0.28	45d	1	0.14mi
3912 Las Vistas Ln Unit 1 Weslaco, TX	2.0	2.0	4200	$1,050	$0.25	45d	1	0.30mi
1230 Jessie St Unit 2 Weslaco, TX	2.0	2.5	4608	$950	$0.21	45d	1	1.35mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 20 events

1. 2026-06-21
   days on market $485,000 Active 19 DOM
2. 2026-06-21
   days on market $485,000 Active 18 DOM
3. 2026-06-18
   days on market $485,000 Active 16 DOM
4. 2026-06-17
   days on market $485,000 Active 15 DOM
5. 2026-06-16
   days on market $485,000 Active 14 DOM
6. 2026-06-15
   days on market $485,000 Active 13 DOM
7. 2026-06-15
   days on market $485,000 Active 12 DOM
8. 2026-06-13
   days on market $485,000 Active 11 DOM
9. 2026-06-12
   days on market $485,000 Active 10 DOM
10. 2026-06-09
    days on market $485,000 Active 7 DOM
11. 2026-06-08
    days on market $485,000 Active 6 DOM
12. 2026-06-08
    days on market $485,000 Active 5 DOM
13. 2026-06-07
    days on market $485,000 Active 4 DOM
14. 2026-06-02
    pricedays on marketlisting id $485,000 Active 1 DOM
15. 2026-05-31
    days on market $490,000 Active 289 DOM
16. 2026-04-27
    price $490,000 456-char remark
17. 2026-01-16
    price $500,000 456-char remark
18. 2025-08-15
    listed $509,485 Active 456-char remark
19. 2024-12-21
    listed $505,000 Active
20. 2024-06-24
    listed $505,000 Active

ⓘ 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 5/10 Major 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $53,592
• − Mortgage interest: −$27,168
• − Property taxes: −$7,275
• − Insurance: −$2,425
• − Repairs & maintenance: −$4,287
• − Management: −$4,287
• − HOA: −$504
• − Depreciation: −$14,109
• Taxable loss: −$6,463
• Est. tax savings @ 24.0%: +$1,551
• After-tax cash flow: $3,164/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 · 12 photos

Good 80/100 None rehab

This well-maintained 4-unit property is already producing steady rental income with reliable tenants. It offers a good condition with minimal repairs needed and potential for value-adding improvements.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more tenants.
• Both Addition of smart home features — Improves convenience and could attract tech-savvy tenants.
• Both Painting interior walls — Fresh paint can make the space feel more inviting and modern.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances curb appeal and could attract more tenants. ↑
• Both Addition of smart home features — Improves convenience and could attract tech-savvy tenants. ↑
• Both Painting interior walls — Fresh paint can make the space feel more inviting and modern. ↑

ⓘ 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): 38,942

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 (86%)
• Race & ethnicity: Hispanic / Latino 86% Two or more races 38% White 13%
• Hispanic origin (detail): Mexican 82%
• Common ancestry: Slovak 1%
• Foreign-born: 17% · Canada
• Languages at home: 27% English-only · Spanish 72%

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: ▼ -0.58%
• Current HPI: 261.5117
• 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

-4.0% since first listed

6 events — show timeline

• 2026-06-02 Listed $485,000 MCALLENMLS
• 2026-04-27 Price Changed $490,000 MCALLENMLS
• 2026-01-16 Price Changed $500,000 MCALLENMLS
• 2025-08-15 Listed $509,485 MCALLENMLS
• 2024-12-21 Listed $505,000 MCALLENMLS
• 2024-06-24 Listed $505,000 MCALLENMLS