331 Windmill Palm St #8 · Alamo, TX 78516

$79,000

2 bd · 2.0 ba · 1,499 sqft · Manufactured · 199 Days on market

Built 1988 Fair condition 6,095 sqft lot $53/sqft · 8% above area Est $73k · 8% over $40/mo HOA · 3% of rent ↓ 14% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +3.9/15.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Alamo Texas - Royal Palms 55 + Community -Club House with a Pool! Adorable, very well taken of and Spacious Mobile Home, 2 Bedrooms, 2 Baths, 2 Living, Combination of Carpet and Vinyl Flooring. The home is approximately 1,500 Square Feet (Seller) and it sits on a 6,094 Square Foot Lot (HCAD).MODEL MARLETTE SERIAL # UST0025703. Existing furniture will stay. It has a Workshop and a separate Storage Shed, Cozy Covered Patio. It is off of Tower and Expressway 83 (2). Great Opportunity to Invest in The Rio Grande Valley!

Key facts

• Storage shed
• Covered patio
• Club house

Tags

• CLUB HOUSE
• POOL
• WORKSHOP
• STORAGE SHED
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $79k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $414 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% vs local median 3.7% in Alamo — 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 62/100 on livability (#916 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute D+, schools D, crime F.
• Donna ISD (suburban): math 11% / reading 18% proficiency, ranked #821 of 826 in TX (top 99%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 350 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $546 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 199 days — a 12% lower offer ($70k) 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,520 (12.0% below list)

Questions for the listing agent

1. It's been on market 199 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.60% ✓
• Cap rate: 12.59%
• Cash-on-cash: 22.48%
• DSCR: 2.00
• GRM: 5.2

CMA / ARV

• ARV (median comp): $73,160
• List price: $79,000
• Delta: 7.98%
• 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
340 Fan Palm	0.05mi	2/2.0	1,393 (-7%)	9mo	$99,000	$71	78

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: 15.4%
• Equity multiple: 1.62×
• Total profit: $13,636
• Equity at exit: $11,779

10-year hold

• IRR: 24.0%
• Equity multiple: 3.08×
• Total profit: $46,038
• Equity at exit: $6,830

Cash invested: $22,120 (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 78516

• Home prices YoY: -6.5%
• Active inventory: 350
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $1,266 high
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• HOA: −$40
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $414

Break-even live

Break-even rent $742

Max offer price $79,000

Occupancy floor 62%

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
428 E Acacia Ave Unit 4 Alamo, TX	3.0	2.0	1040	$1,300	$1.25	23d	1	0.28mi
436 E Acacia Ave Alamo, TX	3.0	2.0	1130	$1,225	$1.08	14d	1	0.30mi
444 E Acacia Ave Unit 3 Alamo, TX	3.0	2.0	1107	$1,300	$1.17	23d	1	0.32mi
812 Santa Anna Dr Alamo, TX	2.0	2.0	1400	$2,000	$1.43	14d	1	0.66mi
1020 Palm Dr Unit 3 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	23d	1	0.91mi
1036 Palm Dr Unit 1 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	23d	1	0.91mi
1032 Palm Dr Apt 3 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	23d	1	0.91mi
1122 Country Club Dr Unit 4 Alamo, TX	3.0	2.0	1060	$1,200	$1.13	14d	1	1.04mi
1233 Country Club Dr Unit 4 Alamo, TX	2.0	2.0	1099	$1,050	$0.96	43d	1	1.04mi
529 Country Club Dr Alamo, TX	3.0	2.0	1419	$1,950	$1.37	14d	1	1.07mi
435 Medina Ln Unit 1 Alamo, TX	2.0	2.0	908	$1,125	$1.24	23d	1	1.15mi
435 Medina Ln Unit 1 Alamo, TX	2.0	2.0	908	$1,200	$1.32	43d	1	1.15mi
443 Medina Ln Unit 3 Alamo, TX	2.0	2.0	908	$1,125	$1.24	23d	1	1.15mi
740 N Alamo Rd Unit 2 Alamo, TX	2.0	2.0	956	$1,075	$1.12	43d	1	1.16mi
740 N Alamo Rd Unit 1 Alamo, TX	2.0	2.0	956	$1,200	$1.26	43d	1	1.16mi
740 N Alamo Rd Unit 2 Alamo, TX	2.0	2.0	956	$1,075	$1.12	23d	1	1.16mi
1020 Palm Dr Unit 1 Alamo, TX	3.0	2.0	1078	$1,275	$1.18	43d	1	1.17mi
427 Frio Ln Apt 1 Alamo, TX	2.0	2.0	908	$1,125	$1.24	21d	1	1.21mi
427 Frio Ln Apt 4 Alamo, TX	3.0	2.0	1118	$1,275	$1.14	44d	1	1.21mi
440 Frio Ln Apt 1 Alamo, TX	2.0	2.0	908	$1,275	$1.40	43d	1	1.21mi
440 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	23d	1	1.21mi
444 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,125	$1.24	23d	1	1.21mi
439 Frio Ln Unit 1 Alamo, TX	2.0	2.0	908	$1,125	$1.24	23d	1	1.21mi
448 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	43d	1	1.21mi
440 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	43d	1	1.21mi
448 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	23d	1	1.21mi
1203 W Jasmine Ave Alamo, TX	3.0	2.0	1588	$1,500	$0.94	21d	1	1.30mi
913 S 13th St Unit 1 Alamo, TX	2.0	2.0	1008	$1,050	$1.04	43d	1	1.47mi
422 S Val Verde Rd Unit 186 Donna, TX	3.0	2.0	960	$850	$0.89	43d	1	1.48mi

HOA detail

• Monthly dues: $40 · $480/yr
• Likely covers: pool

Listing history 18 events

1. 2026-06-18
   days on market $79,000 Active 199 DOM
2. 2026-06-17
   days on market $79,000 Active 198 DOM
3. 2026-06-16
   days on market $79,000 Active 197 DOM
4. 2026-06-15
   days on market $79,000 Active 196 DOM
5. 2026-06-14
   days on market $79,000 Active 194 DOM
6. 2026-06-13
   days on market $79,000 Active 193 DOM
7. 2026-06-10
   days on market $79,000 Active 191 DOM
8. 2026-06-09
   days on market $79,000 Active 190 DOM
9. 2026-06-08
   days on market $79,000 Active 189 DOM
10. 2026-06-07
    pricedays on market $79,000 Active 188 DOM
11. 2026-06-05
    days on market $99,000 Active 185 DOM
12. 2026-06-03
    days on market $99,000 Active 184 DOM
13. 2026-06-02
    days on market $99,000 Active 183 DOM
14. 2026-06-01
    days on market $99,000 Active 182 DOM
15. 2026-05-31
    days on market $99,000 Active 181 DOM
16. 2026-05-31
    days on market $99,000 Active 180 DOM
17. 2026-02-18
    price $99,000 521-char remark

    Show marketing remark (521 chars)

    Alamo Texas - Royal Palms 55 + Community -Club House with a Pool! Adorable, very well taken of and Spacious Mobile Home, 2 Bedrooms, 2 Baths, 2 Living, Combination of Carpet and Vinyl Flooring. The home is approximately 1,500 Square Feet (Seller) and it sits on a 6,094 Square Foot Lot (HCAD).MODEL MARLETTE SERIAL # UST0025703. Existing furniture will stay. It has a Workshop and a separate Storage Shed, Cozy Covered Patio. It is off of Tower and Expressway 83 (2). Great Opportunity to Invest in The Rio Grande Valley!

18. 2025-12-01
    listed $115,000 Active 521-char remark

    Show marketing remark (521 chars)

    Alamo Texas - Royal Palms 55 + Community -Club House with a Pool! Adorable, very well taken of and Spacious Mobile Home, 2 Bedrooms, 2 Baths, 2 Living, Combination of Carpet and Vinyl Flooring. The home is approximately 1,500 Square Feet (Seller) and it sits on a 6,094 Square Foot Lot (HCAD).MODEL MARLETTE SERIAL # UST0025703. Existing furniture will stay. It has a Workshop and a separate Storage Shed, Cozy Covered Patio. It is off of Tower and Expressway 83 (2). Great Opportunity to Invest in The Rio Grande Valley!

ⓘ 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 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 23 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: $15,195
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$395
• − Repairs & maintenance: −$1,216
• − Management: −$1,216
• − HOA: −$480
• − Depreciation: −$2,298
• Taxable income: $3,981
• Est. tax owed @ 24.0%: −$955
• After-tax cash flow: $4,018/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

Fair 45/100 Moderate rehab

This manufactured home requires moderate updates to its kitchen, exterior, and interior to improve its condition and appeal to buyers and renters.

Repairs flagged

• Minor Kitchen cabinets — Aesthetic update needed
• Minor Bathroom fixtures — Update needed for style
• Moderate Exterior siding — Weathered and may need repainting
• Moderate Living area carpet — Worn and may need replacement
• Moderate Paint — Faded and may need repainting

Value-add opportunities

• Both Painting and updating kitchen cabinets — Improves both resale and rental appeal
• Both New flooring in living areas — Enhances both resale and rental appeal
• Both New window treatments — Enhances curb appeal and natural light

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Aesthetic update needed	Minor	$500–3,000
Bathroom fixtures · Update needed for style	Minor	$500–3,000
Exterior siding · Weathered and may need repainting	Moderate	$3,000–15,000
Living area carpet · Worn and may need replacement	Moderate	$3,000–15,000
Paint · Faded and may need repainting	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$10,000–51,000

Value-add ROI direction

• Both Painting and updating kitchen cabinets — Improves both resale and rental appeal ↑
• Both New flooring in living areas — Enhances both resale and rental appeal ↑
• Both New window treatments — Enhances curb appeal and natural light ↑

ⓘ 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: Donna ISD
• NCES district ID: 4817390
• Math proficiency: 11% ▼ -30.00%
• Reading proficiency: 18% ▼ -13.00%
• Median HH income: $27,330
• Composite: 11.16/100
• National rank: #9728
• State rank: #821 of 826 in TX

Livability — Alamo

• Score: 62/100
• State rank: #916
• US rank: #16356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alamo, TX
• County: Hidalgo County · 623,128 people
• City population: 34,370
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 34,370
• Household income: $53,229
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 476.0

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 (89%)
• Race & ethnicity: Hispanic / Latino 89% Two or more races 40% White 10% Black 1%
• Hispanic origin (detail): Mexican 86%
• Foreign-born: 29% · Canada
• Languages at home: 24% English-only · Spanish 76%

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: ▼ -15.56%
• Current HPI: 225.4438
• Rent YoY: —
• Metro: McAllen-Edinburg-Mission, TX
• 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

-13.9% since first listed

2 events — show timeline

• 2026-02-18 Price Changed $99,000 MCALLENMLS
• 2025-12-01 Listed $115,000 MCALLENMLS