1605 Oblate Ave · Mission, TX 78572

$120,000

3 bd · 2.0 ba · 1,248 sqft · SingleFamily public records · 463 Days on market

Built 1978 7,405 sqft lot $96/sqft · 18% below area Est $146k · 18% under ↓ 20% 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 +19.3/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.7/10.0
• Livability +3.8/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to your New Home right in the Heart of Mission, Tx. Discover this inviting 3-bedroom, 1.5-bath single-family home located in a peaceful neighborhood in Mission, TX. Built in 1978 and situated on a spacious 7,405 sq ft lot, this 1,248 sq ft residence offers both comfort and potential for homeowners and investors alike. Enjoy the convenience of being close to schools, shops, and local businesses while savoring the serenity of a quiet, established community. Whether you’re a first-time buyer or looking to expand your rental portfolio, this home presents a fantastic opportunity at just $116 per square foot in the heart of Mission, TX.

Key facts

• 7,405 sq ft lot
• Garage
• Built 1978

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.5% in Mission — 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 75/100 on livability (#148 in TX, #4,155 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools C-, amenities F, commute F.
• Mission CISD (urban): math 15% / reading 28% proficiency, ranked #775 of 826 in TX (top 94%) — 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: Rents flat; 852 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $830 of loan paydown is wiped out by about $4k 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 463 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $30k (20%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 96% 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 $105,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 463 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 7.61%
• Cash-on-cash: 4.70%
• DSCR: 1.21
• GRM: 7.8

CMA / ARV

• ARV (median comp): $146,418
• List price: $120,000
• Delta: -18.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
819 Bryce Dr	0.44mi	2/1.0 (-1)	1,269 (+2%)	8mo	$195,000	$154	61
1816 N Holland Ave	0.72mi	3/1.0	1,350 (+8%)	2mo	$161,000	$119	47
910 Bryce Dr	0.52mi	2/1.0 (-1)	1,140 (-9%)	11mo	$149,000	$131	43
807 Palmetto Dr	0.75mi	3/2.0	1,301 (+4%)	22mo	$205,000	$158	40
1016 Fairway Dr	0.61mi	2/2.0 (-1)	1,100 (-12%)	12mo	$145,000	$132	36

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 · 0.93% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.59×
• Total profit: $-13,633
• Equity at exit: $17,892

10-year hold

• IRR: -5.7%
• Equity multiple: 0.67×
• Total profit: $-11,206
• Equity at exit: $10,375

Cash invested: $33,600 (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 78572

• Home prices YoY: -22.9%
• Rents YoY: 0.9%
• Active inventory: 852
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,290 high
• Mortgage (P&I): −$629
• Tax from tax record: −$208 /mo · $2,495/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $132

Break-even live

Break-even rent $1,123

Max offer price $120,000

Occupancy floor 85%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1400 N Dunlap Ave Mission, TX	2.0	1.0	1068	$800	$0.75	19d	1	0.32mi
221 W 14th St Mission, TX	3.0	2.0	1290	$1,100	$0.85	43d	1	0.38mi
1811 Perkins Ave Unit 7 Mission, TX	2.0	1.0	850	$750	$0.88	14d	1	0.42mi
1707 Highland Park Ave Unit 4-B Mission, TX	2.0	2.0	1336	$1,200	$0.90	14d	1	0.47mi
1801 Highland Park Ave Mission, TX	2.0	2.0	1173	$1,500	$1.28	19d	1	0.51mi
2008 N Cummings Ave Mission, TX	3.0	2.0	1012	$1,300	$1.28	43d	1	0.51mi
1827 Highland Park Ave Unit 1 Mission, TX	2.0	2.0	1300	$1,200	$0.92	43d	1	0.53mi
1006 Fairway Dr Mission, TX	2.0	2.0	1072	$1,100	$1.03	43d	1	0.55mi
2002 Thornton St Mission, TX	3.0	2.0	1374	$1,300	$0.95	43d	1	0.60mi
7102 N 56th Ln Unit 1 Mission, TX	2.0	2.0	980	$1,075	$1.10	21d	1	0.65mi
502 Thornwood St Mission, TX	4.0	2.0	1260	$1,600	$1.27	14d	1	0.77mi
523 Perkins Ave Mission, TX	2.0	2.0	1050	$950	$0.90	43d	1	0.87mi
702 W 25th St Mission, TX	3.0	2.0	1375	$1,650	$1.20	19d	1	0.98mi
906 Hidden Hills St Unit 4 Mission, TX	2.0	3.0	1180	$1,250	$1.06	14d	1	1.10mi
721 W 4th St Mission, TX	3.0	1.5	1194	$1,400	$1.17	14d	1	1.15mi
1511 Evergreen Ave Mission, TX	3.0	2.0	1286	$1,300	$1.01	43d	1	1.19mi
1500 E 24th St Unit B-6 Mission, TX	2.0	2.0	1010	$975	$0.97	43d	1	1.31mi
2311 Dora Jeanne Dr Unit A Mission, TX	2.0	2.0	975	$950	$0.97	43d	1	1.36mi
3108 Highland Park Ave Mission, TX	4.0	2.0	1400	$1,800	$1.29	19d	1	1.38mi
983 Washington Ave Mission, TX	3.0	2.0	1040	$1,300	$1.25	43d	1	1.40mi
106 S Bryan Rd Unit 13 Mission, TX	2.0	1.0	720	$725	$1.01	43d	1	1.41mi
402 Cory Dr Unit B-10 Mission, TX	2.0	1.0	714	$750	$1.05	43d	1	1.43mi
100 Yosemite Dr Unit 1 Mission, TX	3.0	2.0	1195	$1,375	$1.15	43d	1	1.44mi
405 Cory Dr Mission, TX	2.0	1.0	832	$750	$0.90	21d	1	1.45mi
103 Yosemite Dr Unit 2 Mission, TX	3.0	2.0	1116	$1,375	$1.23	43d	1	1.48mi
101 San Jose Dr Apt 3 Mission, TX	3.0	2.0	1195	$1,350	$1.13	43d	1	1.48mi
101 San Jose Dr Apt 4 Mission, TX	3.0	2.0	1195	$1,375	$1.15	43d	1	1.48mi
101 San Jose Dr Apt 4 Mission, TX	3.0	2.0	1195	$1,375	$1.15	23d	1	1.48mi
105 San Jose Dr Unit 1 Mission, TX	3.0	2.0	1195	$1,345	$1.13	14d	1	1.48mi
105 San Jose Dr Unit 4 Mission, TX	3.0	2.0	1195	$1,350	$1.13	43d	1	1.48mi
105 San Jose Dr Unit 1 Mission, TX	3.0	2.0	1195	$1,345	$1.13	19d	1	1.48mi

Listing history 23 events

1. 2026-06-18
   days on market $120,000 Active 463 DOM
2. 2026-06-17
   days on market $120,000 Active 462 DOM
3. 2026-06-16
   days on market $120,000 Active 461 DOM
4. 2026-06-15
   days on market $120,000 Active 460 DOM
5. 2026-06-14
   days on market $120,000 Active 458 DOM
6. 2026-06-10
   days on market $120,000 Active 455 DOM
7. 2026-06-09
   days on market $120,000 Active 454 DOM
8. 2026-06-08
   days on market $120,000 Active 453 DOM
9. 2026-06-07
   days on market $120,000 Active 452 DOM
10. 2026-06-03
    days on market $120,000 Active 448 DOM
11. 2026-06-02
    days on market $120,000 Active 447 DOM
12. 2026-06-01
    days on market $120,000 Active 446 DOM
13. 2026-05-31
    days on market $120,000 Active 445 DOM
14. 2026-05-31
    days on market $120,000 Active 444 DOM
15. 2026-03-27
    price $120,000 653-char remark

    Show marketing remark (653 chars)

    Welcome to your New Home right in the Heart of Mission, Tx. Discover this inviting 3-bedroom, 1.5-bath single-family home located in a peaceful neighborhood in Mission, TX. Built in 1978 and situated on a spacious 7,405 sq ft lot, this 1,248 sq ft residence offers both comfort and potential for homeowners and investors alike. Enjoy the convenience of being close to schools, shops, and local businesses while savoring the serenity of a quiet, established community. Whether you’re a first-time buyer or looking to expand your rental portfolio, this home presents a fantastic opportunity at just $116 per square foot in the heart of Mission, TX.

16. 2026-01-08
    price $125,000 653-char remark

    Show marketing remark (653 chars)

    Welcome to your New Home right in the Heart of Mission, Tx. Discover this inviting 3-bedroom, 1.5-bath single-family home located in a peaceful neighborhood in Mission, TX. Built in 1978 and situated on a spacious 7,405 sq ft lot, this 1,248 sq ft residence offers both comfort and potential for homeowners and investors alike. Enjoy the convenience of being close to schools, shops, and local businesses while savoring the serenity of a quiet, established community. Whether you’re a first-time buyer or looking to expand your rental portfolio, this home presents a fantastic opportunity at just $116 per square foot in the heart of Mission, TX.

17. 2025-10-29
    price $130,000 653-char remark

    Show marketing remark (653 chars)

    Welcome to your New Home right in the Heart of Mission, Tx. Discover this inviting 3-bedroom, 1.5-bath single-family home located in a peaceful neighborhood in Mission, TX. Built in 1978 and situated on a spacious 7,405 sq ft lot, this 1,248 sq ft residence offers both comfort and potential for homeowners and investors alike. Enjoy the convenience of being close to schools, shops, and local businesses while savoring the serenity of a quiet, established community. Whether you’re a first-time buyer or looking to expand your rental portfolio, this home presents a fantastic opportunity at just $116 per square foot in the heart of Mission, TX.

18. 2025-08-27
    price $135,000 653-char remark

    Show marketing remark (653 chars)

    Welcome to your New Home right in the Heart of Mission, Tx. Discover this inviting 3-bedroom, 1.5-bath single-family home located in a peaceful neighborhood in Mission, TX. Built in 1978 and situated on a spacious 7,405 sq ft lot, this 1,248 sq ft residence offers both comfort and potential for homeowners and investors alike. Enjoy the convenience of being close to schools, shops, and local businesses while savoring the serenity of a quiet, established community. Whether you’re a first-time buyer or looking to expand your rental portfolio, this home presents a fantastic opportunity at just $116 per square foot in the heart of Mission, TX.

19. 2025-06-24
    price $145,000 653-char remark

    Show marketing remark (653 chars)

    Welcome to your New Home right in the Heart of Mission, Tx. Discover this inviting 3-bedroom, 1.5-bath single-family home located in a peaceful neighborhood in Mission, TX. Built in 1978 and situated on a spacious 7,405 sq ft lot, this 1,248 sq ft residence offers both comfort and potential for homeowners and investors alike. Enjoy the convenience of being close to schools, shops, and local businesses while savoring the serenity of a quiet, established community. Whether you’re a first-time buyer or looking to expand your rental portfolio, this home presents a fantastic opportunity at just $116 per square foot in the heart of Mission, TX.

20. 2025-03-12
    listed $150,000 Active 653-char remark

    Show marketing remark (653 chars)

    Welcome to your New Home right in the Heart of Mission, Tx. Discover this inviting 3-bedroom, 1.5-bath single-family home located in a peaceful neighborhood in Mission, TX. Built in 1978 and situated on a spacious 7,405 sq ft lot, this 1,248 sq ft residence offers both comfort and potential for homeowners and investors alike. Enjoy the convenience of being close to schools, shops, and local businesses while savoring the serenity of a quiet, established community. Whether you’re a first-time buyer or looking to expand your rental portfolio, this home presents a fantastic opportunity at just $116 per square foot in the heart of Mission, TX.

21. 2024-01-28
    historical $725
22. 2024-01-09
    listed $725
23. 1993-08-24
    soldstatus

ⓘ 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: $2,495 · $208/mo
• Projected year-2 tax: $2,495 · $208/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 21 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 96% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,477
• − Mortgage interest: −$6,722
• − Property taxes: −$2,495
• − Insurance: −$600
• − Repairs & maintenance: −$1,238
• − Management: −$1,238
• − Depreciation: −$3,491
• Taxable loss: −$307
• Est. tax savings @ 24.0%: +$74
• After-tax cash flow: $1,654/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: Mission CISD
• NCES district ID: 4831040
• Math proficiency: 15% ▼ -35.00%
• Reading proficiency: 28% ▼ -15.00%
• Median HH income: $32,855
• Composite: 17.47/100
• National rank: #9061
• State rank: #775 of 826 in TX

Livability — Mission

• Score: 75/100
• State rank: #148
• US rank: #4155

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mission, TX
• County: Hidalgo County · 623,128 people
• City population: 78,024
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 78,024
• Household income: $54,298
• Rent vs Own: 29.0% rent · 71.0% own
• Severe rent burden: 1714.0

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 (85%)
• Race & ethnicity: Hispanic / Latino 85% Two or more races 47% White 12% Asian 2%
• Hispanic origin (detail): Mexican 80%
• Common ancestry: Slovak 1% Portuguese 0%
• Foreign-born: 28% · Canada, South Korea
• Languages at home: 22% 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: ▼ -62.35%
• Current HPI: 209.3573
• Rent YoY: ▲ 0.93%
• 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

-20.0% since first listed

9 events — show timeline

• 2026-03-27 Price Changed $120,000 MCALLENMLS
• 2026-01-08 Price Changed $125,000 MCALLENMLS
• 2025-10-29 Price Changed $130,000 MCALLENMLS
• 2025-08-27 Price Changed $135,000 MCALLENMLS
• 2025-06-24 Price Changed $145,000 MCALLENMLS
• 2025-03-12 Listed $150,000 MCALLENMLS
• 2024-01-28 Rental Removed $725 Avail
• 2024-01-09 Listed for Rent $725 Avail
• 1993-08-24 Sold (Public Records) — Public Records

Property tax history

+9.1%/yr

Latest (2025): $2,495 · +20.0% YoY. Source: county tax records.