2805 E Garfield Ave · Alton, TX 78573

$448,000

None bd · None ba · 4,440 sqft · MultiFamily · 111 Days on market

Built 2018 Good condition 10,399 sqft lot $101/sqft · at area comps Est $458k · at est. $42/mo HOA · 4% of rent ↓ 13% 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
• Appreciation +10.0/10.0
• ARV discount +8.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.3/10.0
• Condition / age +4.0/5.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Exceptional investment opportunity featuring a fourplex built in 2018 and ideally located off Stewart Road in a high-demand rental area. Each unit offers three bedrooms, two bathrooms, open living spaces, tile flooring throughout, granite countertops, and a full appliance package including washer and dryer. Three units are currently occupied, providing immediate rental income, while one vacant unit offers flexibility for owner-occupancy or lease at market rate. Covered parking and a low-maintenance exterior enhance long-term efficiency. Located within Sharyland ISD and minutes from major roads, shopping, and dining, this property presents a strong opportunity for investors or buyers seeking to offset housing costs with rental income.

Key facts

• Open living spaces
• Fourplex
• Tile flooring

Tags

• FOURPLEX
• HIGH-DEMAND RENTAL AREA
• OPEN LIVING SPACES
• TILE FLOORING
• GRANITE COUNTERTOPS
• FULL APPLIANCE PACKAGE

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/2-bath units multifamily listed at $448k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $490 ($6k/yr) — positive. Per door: $122/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $448k).
• Recommended offer: $408k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 2.6% in Alton — 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 58/100 on livability (#1,230 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A; Watch: schools F, crime F, amenities F.
• Sharyland ISD (urban): math 34% / reading 44% proficiency, ranked #406 of 826 in TX (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.5%/yr); 623 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% 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).
• At $4,592/mo this rent would consume 100% of the median local household income ($55k/yr) (locally 855% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 2.5% rent growth), your $125k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$77k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 111 days — a 9% lower offer ($408k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $407,680 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.03% ✓
• Cap rate: 7.60%
• Cash-on-cash: 4.68%
• DSCR: 1.21
• GRM: 8.1

CMA / ARV

• ARV (median comp): $458,182
• List price: $448,000
• Delta: -2.22%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2904 E Israel Ave	0.22mi	—/—	4,168 (-6%)	4mo	$515,000	$124	76
2612 E Israel Ave	0.24mi	—/—	4,168 (-6%)	4mo	$515,000	$124	75
2604 Israel Ave	0.26mi	—/—	4,032 (-9%)	2mo	$499,000	$124	71
2912 E Israel Ave	0.21mi	—/—	4,632 (+4%)	16mo	$549,900	$119	69
2709 E Israel Ave	0.20mi	—/—	4,032 (-9%)	8mo	$515,000	$128	68
2908 E Israel Ave	0.28mi	—/—	4,632 (+4%)	17mo	$549,900	$119	66
1417 S Xanthia St	0.61mi	—/—	4,216 (-5%)	6mo	$489,000	$116	58
1220 S Xanthia St	0.52mi	—/—	4,029 (-9%)	8mo	$479,000	$119	54
1300 S Yankton St	0.57mi	—/—	4,054 (-9%)	7mo	$478,000	$118	54
1221 S Yankton	0.55mi	—/—	4,029 (-9%)	8mo	$479,000	$119	53
206 N Linares St	0.63mi	—/—	4,080 (-8%)	15mo	$400,000	$98	44
1412 S Yankton St	0.65mi	—/—	4,054 (-9%)	18mo	$498,000	$123	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 2.45% rent growth · sell at horizon

5-year hold

• IRR: 27.5%
• Equity multiple: 3.17×
• Total profit: $272,747
• Equity at exit: $403,594

10-year hold

• IRR: 23.8%
• Equity multiple: 7.17×
• Total profit: $773,843
• Equity at exit: $870,365

Cash invested: $125,440 (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 78573

• Home prices YoY: 8.0%
• Rents YoY: 2.5%
• Active inventory: 623
• Price-to-rent: 32.5×

Monthly cashflow live

• Estimated rent: $4,592 high
• Mortgage (P&I): −$2,349
• Tax est. 1.5%: −$560 /mo · $6,720/yr
• Insurance: −$187
• HOA: −$42
• Vacancy / Maint / Mgmt: −$964
• Net cashflow: $490

Break-even live

Break-even rent $3,972

Max offer price $448,000

Occupancy floor 84%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	3	2	$4,592
Total (4 units)			$4,592

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: $112,000
• Closing costs: $13,440
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2703 E Garfield Ave Unit A Alton, TX	3.0	2.0	4088	$950	$0.23	23d	1	0.04mi
2601 E Garfield Ave Unit 2 Alton, TX	2.0	2.0	4292	$975	$0.23	43d	1	0.08mi
2904 E Israel Ave Unit A Alton, TX	2.0	2.0	4172	$1,200	$0.29	43d	1	0.23mi
2612 E Israel Ave Unit A Alton, TX	2.0	2.0	4172	$1,200	$0.29	43d	1	0.24mi
1100 S Stewart Blvd Alton, TX	2.0	1.0	3991	$959	$0.24	43d	1	0.27mi
5704 Puffin Ave Unit 4 Palmhurst, TX	2.0	2.0	4372	$1,050	$0.24	43d	1	1.00mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 24 events

1. 2026-06-18
   days on market $448,000 Active 111 DOM
2. 2026-06-17
   days on market $448,000 Active 110 DOM
3. 2026-06-16
   days on market $448,000 Active 109 DOM
4. 2026-06-15
   days on market $448,000 Active 108 DOM
5. 2026-06-14
   days on market $448,000 Active 106 DOM
6. 2026-06-10
   days on market $448,000 Active 103 DOM
7. 2026-06-09
   days on market $448,000 Active 102 DOM
8. 2026-06-08
   days on market $448,000 Active 101 DOM
9. 2026-06-07
   days on market $448,000 Active 100 DOM
10. 2026-06-03
    days on market $448,000 Active 96 DOM
11. 2026-06-02
    days on market $448,000 Active 95 DOM
12. 2026-06-01
    days on market $448,000 Active 94 DOM
13. 2026-05-31
    days on market $448,000 Active 93 DOM
14. 2026-05-31
    days on market $448,000 Active 92 DOM
15. 2026-02-27
    listed $448,000 Active 743-char remark

    Show marketing remark (743 chars)

    Exceptional investment opportunity featuring a fourplex built in 2018 and ideally located off Stewart Road in a high-demand rental area. Each unit offers three bedrooms, two bathrooms, open living spaces, tile flooring throughout, granite countertops, and a full appliance package including washer and dryer. Three units are currently occupied, providing immediate rental income, while one vacant unit offers flexibility for owner-occupancy or lease at market rate. Covered parking and a low-maintenance exterior enhance long-term efficiency. Located within Sharyland ISD and minutes from major roads, shopping, and dining, this property presents a strong opportunity for investors or buyers seeking to offset housing costs with rental income.

16. 2025-11-11
    listed $450,000 Active
17. 2025-10-02
    price $450,000
18. 2025-08-28
    status Active
19. 2025-08-28
    price $455,000
20. 2025-08-08
    status Pending
21. 2025-07-29
    historical Option
22. 2025-07-24
    price $470,000
23. 2025-06-03
    price $495,000
24. 2025-05-07
    listed $515,000 Active

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $55,104
• − Mortgage interest: −$25,095
• − Property taxes: −$6,720
• − Insurance: −$2,240
• − Repairs & maintenance: −$4,408
• − Management: −$4,408
• − HOA: −$504
• − Depreciation: −$13,033
• Taxable loss: −$1,304
• Est. tax savings @ 24.0%: +$313
• After-tax cash flow: $6,189/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 Cosmetic rehab

This fourplex is in good condition with recent renovations, offering a strong investment opportunity in a high-demand rental area.

Value-add opportunities

• Both Paint exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace blinds with energy-efficient windows — Improved energy efficiency and better light control
• Both Install smart home devices — Enhances convenience and marketability

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace blinds with energy-efficient windows — Improved energy efficiency and better light control ↑
• Both Install smart home devices — Enhances convenience and marketability ↑

ⓘ 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: Sharyland ISD
• NCES district ID: 4839930
• Math proficiency: 34% ▼ -35.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $57,792
• Composite: 34.38/100
• National rank: #5214
• State rank: #406 of 826 in TX

Livability — Alton

• Score: 58/100
• State rank: #1230
• US rank: #21479

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alton, TX
• County: Hidalgo County · 623,128 people
• City population: 44,809
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 44,809
• Household income: $55,000
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 855.0

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 (96%)
• Race & ethnicity: Hispanic / Latino 96% Two or more races 63% White 3%
• Hispanic origin (detail): Mexican 94%
• Foreign-born: 28% · Canada
• Languages at home: 12% English-only · Spanish 88%

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: ▲ 17.95%
• Current HPI: 242.0711
• Rent YoY: ▲ 2.45%
• 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

-13.0% since first listed

10 events — show timeline

• 2026-02-27 Listed $448,000 MCALLENMLS
• 2025-11-11 Listed $450,000 MCALLENMLS
• 2025-10-02 Price Changed $450,000 MCALLENMLS
• 2025-08-28 Relisted — MCALLENMLS
• 2025-08-28 Price Changed $455,000 MCALLENMLS
• 2025-08-08 Pending — MCALLENMLS
• 2025-07-29 Contingent — MCALLENMLS
• 2025-07-24 Price Changed $470,000 MCALLENMLS
• 2025-06-03 Price Changed $495,000 MCALLENMLS
• 2025-05-07 Listed $515,000 MCALLENMLS