412 E Acacia St

Alamo, TX 78516

$469,900B

None bd · None ba · 3,746 sqft · Built 2025 · MultiFamily · Active · 382 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $8,200/mo
• Mortgage (P&I): −$2,464
• Tax + insurance: −$783
• HOA: −$42
• Vac / Maint / Mgmt: −$1,722
• Net cashflow: $3,189/mo
• Annual: $38,264/yr
• Cap rate: 14.44%
• Cash-on-cash: 29.08%
• DSCR: 2.29
• 1% rule: 1.75%
• Cash to close: $131,572

Investor read

• This is a 8 × 2-bed/?-bath units multifamily listed at $470k. Condition is rated excellent.
• At list price, monthly cash flow is $3k ($38k/yr) — positive. Per door: $399/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $470k).
• It's been on market 382 days — a 12% lower offer ($414k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $414k (12.0% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• 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+, crime F, amenities 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.
• Zoned schools: Capt D Salinas Ii El (math 16% / reading 17%, grade F, #3,946 of 4,322 statewide, top 92%, 416 students, 96% FRL); Dora M Sauceda Middle (math 12% / reading 23%, grade F, #1,507 of 1,662 statewide, top 91%, 660 students, 100% FRL); Donna North H S (math 8% / reading 17%, grade F, #1,539 of 1,632 statewide, top 95%, 2,091 students, 100% FRL) — zoned schools average 98% FRL vs 48% district-wide (50 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 510 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 52d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% 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).
• 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 $132k cash investment doubles in ~5 years — after that, you're playing with house money.
• Cap rate 14.4% vs local median 3.6% 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.

Questions for listing agent

• It's been on market 382 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
• Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
• What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?