3164 Briggs St Unit B1 · Midway South, TX 78596

$115,000

2 bd · 2.0 ba · 868 sqft · Condo · 67 Days on market

Built 2024 Good condition $132/sqft · 11% below area Est $130k · 11% under $42/mo HOA · 4% of rent ↓ 8% 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 +14.6/30.0
• ARV discount +12.6/15.0
• Appreciation +4.7/10.0
• 1% rule +4.5/10.0
• DSCR +4.5/10.0
• Condition / age +4.0/5.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Schools +2.2/10.0

Listing remarks MLS

This NEW 2-bedroom, 2-bathroom home in Weslaco offers modern style and affordability at just $115,000—a rare find in today’s market. Featuring a sleek stucco exterior, tile flooring throughout, and elegant quartz countertops, this home is built for contemporary living. A 2-car carport adds convenience, and the location near Midway Rd and Business 83 provides quick access to HEB, restaurants, schools, and the expressway. You're also just minutes from the Weslaco Bike Trail and local parks. With Weslaco growing rapidly, this is an excellent opportunity to invest in a thriving area. Don’t miss out on this incredible value!

Key facts

• Quartz countertops
• 2 car carport
• Tile flooring

Tags

• STUCCO EXTERIOR
• TILE FLOORING
• QUARTZ COUNTERTOPS
• 2 CAR CARPORT
• LOCATION NEAR MIDWAY RD
• LOCATION NEAR BUSINESS 83

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $115k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $28 ($334/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 $109k (4.8% below list).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 58/100 on livability (#1,201 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute 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: 710 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 54% 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 $123 of equity ($795 loan paydown + $-672 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 67 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% 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. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 F-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. 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: 0.95% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.04%
• DSCR: 1.05
• GRM: 8.8

CMA / ARV

• ARV (median comp): $129,723
• List price: $115,000
• Delta: -11.35%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.2%
• Equity multiple: 0.85×
• Total profit: $-4,670
• Equity at exit: $30,072

10-year hold

• IRR: 3.1%
• Equity multiple: 1.31×
• Total profit: $10,041
• Equity at exit: $33,595

Cash invested: $32,200 (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: 710
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,094 high
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$42
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $28

Break-even live

Break-even rent $1,059

Max offer price $115,000

Occupancy floor 92%

Sensitivity live

Price	-10% $107	-5% $68	+0% $28	+5% $-12	+10% $-52
Rent	-10% $-59	-5% $-15	+0% $28	+5% $71	+10% $114
Rate	-1.0pp $86	-0.5pp $57	base $28	+0.5pp $-2	+1.0pp $-32

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3086 Briggs Rd Unit B Midway South, TX	2.0	3.0	1050	$1,300	$1.24	24d	1	0.03mi
3707 U.S. 83 Business Unit 442 Donna, TX	3.0	2.0	960	$799	$0.83	44d	1	0.32mi
3707 U.S. 83 Business Unit 333 Donna, TX	3.0	2.0	960	$899	$0.94	44d	1	0.32mi
3707 U.S. 83 Business Unit 431 Donna, TX	3.0	2.0	960	$799	$0.83	24d	1	0.32mi
412 Sparrow Rd Unit 1 Weslaco, TX	2.0	2.0	1020	$1,250	$1.23	24d	1	0.38mi
503 Sparrow Rd Unit 1 Weslaco, TX	2.0	2.0	1000	$1,300	$1.30	22d	1	0.40mi
2613 Mockingbird Rd Unit D Weslaco, TX	2.0	2.0	973	$1,200	$1.23	44d	1	0.46mi
2705 Woodpecker Rd Unit 2 Weslaco, TX	2.0	2.0	1020	$1,200	$1.18	24d	1	0.57mi
700 Oriole Rd #2 Weslaco, TX	2.0	2.0	1020	$1,250	$1.23	44d	1	0.57mi
2609 Woodpecker Rd Unit 1 Weslaco, TX	2.0	2.0	1020	$1,250	$1.23	24d	1	0.59mi
2604 Woodpecker Rd Unit 2 Weslaco, TX	2.0	2.0	1068	$1,200	$1.12	15d	1	0.60mi
222 S Westgate Dr Weslaco, TX	1.0	1.0	650	$670	$1.03	44d	1	0.81mi
222 S Westgate Dr Apt 6 Weslaco, TX	1.0	1.0	700	$680	$0.97	44d	1	0.81mi
222 S Westgate Dr Weslaco, TX	1.0	1.0	700	$680	$0.97	45d	1	0.81mi
1319 San Vicente Unit 1 Weslaco, TX	3.0	2.0	1100	$1,350	$1.23	24d	1	0.99mi
1322 Beverly Ave Unit 3 Weslaco, TX	3.0	2.0	1050	$1,350	$1.29	24d	1	1.00mi
1430 Mile 6 1/2 W Unit 6 1/2 Weslaco, TX	2.0	2.0	850	$877	$1.03	44d	1	1.00mi
1409 Beverly Ave Unit 1 Weslaco, TX	2.0	2.0	986	$1,050	$1.06	44d	1	1.03mi
1409 W Business 83 Unit 00 722 Weslaco, TX	1.0	1.0	550	$855	$1.55	44d	1	1.04mi
2013 Canyon Dr Unit 4 Weslaco, TX	3.0	2.0	1111	$1,200	$1.08	24d	1	1.25mi
1721 Harrison St Weslaco, TX	2.0	2.0	1005	$1,025	$1.02	44d	1	1.34mi
2607 E North Ave Donna, TX	1.0–2.0	1.0–2.0	1009	$1,125	$1.11	15d	7	1.41mi
2103 Taft St Unit 4 Weslaco, TX	3.0	2.0	1111	$1,095	$0.99	44d	1	1.44mi
2816 Brown St Unit B Weslaco, TX	2.0	2.0	1000	$950	$0.95	44d	1	1.45mi

HOA detail condo

• Monthly dues: $42 · $504/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $115,000 Active 67 DOM
2. 2026-06-18
   days on market $115,000 Active 65 DOM
3. 2026-06-17
   days on market $115,000 Active 64 DOM
4. 2026-06-16
   days on market $115,000 Active 63 DOM
5. 2026-06-15
   days on market $115,000 Active 62 DOM
6. 2026-06-15
   days on market $115,000 Active 61 DOM
7. 2026-06-13
   days on market $115,000 Active 60 DOM
8. 2026-06-12
   days on market $115,000 Active 59 DOM
9. 2026-06-09
   days on market $115,000 Active 56 DOM
10. 2026-06-08
    days on market $115,000 Active 55 DOM
11. 2026-06-08
    days on market $115,000 Active 54 DOM
12. 2026-06-07
    days on market $115,000 Active 53 DOM
13. 2026-06-03
    days on market $115,000 Active 50 DOM
14. 2026-06-02
    days on market $115,000 Active 49 DOM
15. 2026-06-01
    days on market $115,000 Active 48 DOM
16. 2026-05-31
    days on market $115,000 Active 47 DOM
17. 2026-04-14
    price $115,000 645-char remark

    Show marketing remark (645 chars)

    This NEW 2-bedroom, 2-bathroom home in Weslaco offers modern style and affordability at just $115,000—a rare find in today’s market. Featuring a sleek stucco exterior, tile flooring throughout, and elegant quartz countertops, this home is built for contemporary living. A 2-car carport adds convenience, and the location near Midway Rd and Business 83 provides quick access to HEB, restaurants, schools, and the expressway. You're also just minutes from the Weslaco Bike Trail and local parks. With Weslaco growing rapidly, this is an excellent opportunity to invest in a thriving area. Don’t miss out on this incredible value!

18. 2026-04-13
    listed $125,000 Active 645-char remark

    Show marketing remark (645 chars)

    This NEW 2-bedroom, 2-bathroom home in Weslaco offers modern style and affordability at just $115,000—a rare find in today’s market. Featuring a sleek stucco exterior, tile flooring throughout, and elegant quartz countertops, this home is built for contemporary living. A 2-car carport adds convenience, and the location near Midway Rd and Business 83 provides quick access to HEB, restaurants, schools, and the expressway. You're also just minutes from the Weslaco Bike Trail and local parks. With Weslaco growing rapidly, this is an excellent opportunity to invest in a thriving area. Don’t miss out on this incredible value!

19. 2026-01-09
    listed $125,000 Active

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

Taxation est. · year 1

• Rental income: $13,133
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,051
• − Management: −$1,051
• − HOA: −$504
• − Depreciation: −$3,345
• Taxable loss: −$1,560
• Est. tax savings @ 24.0%: +$374
• After-tax cash flow: $708/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 modern 2-bedroom, 2-bathroom home in Weslaco is in excellent condition and ready for move-in. It offers a sleek stucco exterior, tile flooring throughout, and a 2-car carport. The location near Midway Rd and Business 83 provides quick access to HEB, restaurants, schools, and the expressway. With Weslaco growing rapidly, this is an excellent opportunity to invest in a thriving area.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters.
• Both Add a small front garden — Improves the home's curb appeal and can attract more buyers or renters.
• Both Install a smart home system — Enhances the home's modern appeal and can attract more buyers or renters.
• Both Add a small front garden — Improves the home's curb appeal and can attract more buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the home's curb appeal and can attract more buyers or renters. ↑
• Both Add a small front garden — Improves the home's curb appeal and can attract more buyers or renters. ↑
• Both Install a smart home system — Enhances the home's modern appeal and can attract more buyers or renters. ↑
• Both Add a small front garden — Improves the home's curb appeal and can attract more buyers or renters. ↑

ⓘ 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 — Midway South

• Score: 58/100
• State rank: #1201
• US rank: #21023

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Midway South, 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

-8.0% since first listed

3 events — show timeline

• 2026-04-14 Price Changed $115,000 MCALLENMLS
• 2026-04-13 Listed $125,000 MCALLENMLS
• 2026-01-09 Listed $125,000 MCALLENMLS