The Buying of Precinct 3303: Medrano Territory

One of the best-kept political secrets in Dallas is the relative wealth of the Medrano family. While Pancho, Robert, and Ricardo spend a good deal of time wearing work shirts and boasting about their first-hand understanding of life in the barrio, the city tax rolls reveal that the three head a sizable real estate empire in Little Mexico.

The family owns 23 residential lots, primarily on Knight and Douglas Streets between Harry Hines and the Dallas North Tollway. The tax rolls place most of the property in the $2000-to-$5000 range, though more current evaluations are as much as six times that. For example, the home at 2302 Vagas, owned by Ricardo Medrano, is valued for tax purposes at $5532; the house next door, however, is currently listed with the Henry S. Miller Agency for $38, 500. Three other properties on Vagas are listed with the Miller agency for a package price of $99, 000. If the Medranos decided to liquidate their holdings, it’s conceivable they could gross close to three quarters of a million dollars.

Like just about every other aspect of the Medrano family lifestyle, property ownership is communal. Pancho owns the house that Pancho Jr. and Ricardo live in. Ricardo owns the house that Robert lives in. (Robert is the only one of five siblings who owns no real estate). And Pauline, who lives with her parents, is half-owner of five rental houses with her brother, Rolando.

It is not clear how the Medranos amassed so much property on their modest salaries. But it is clear they have an eye for a bargain. Jose Lagunas sold his property at 2302 Vagas to Ricardo Medrano in 1970 for a paltry $10, 000, but he claims he wasn’t pressured. “I could have sold it for more, but I needed the money to buy a nice place over here in West Dallas. “

Says Pauline, “We’re planning to stay in the area and we’ve bought the properties to provide homes for all of the family, and we do rent out some of it. I’m not going to lie to you, we do rent out. ” Indeed, Ricardo admits he’s able to devote full time to Council work because he lives on rental income.

Any way you look at it, the Medrano clan isn’t hurting. Their holdings, listed to the right, amount to a small fortune if the real estate market doesn’t collapse in the next year or so.