2609 E Hayes Ave · Alton, TX 78573

$565,000

None bd · None ba · 5,149 sqft · MultiFamily · 185 Days on market

Built 2025 Excellent condition 0.30 ac lot $110/sqft · 9% above area Est $517k · 9% over $21/mo HOA · 2% of rent

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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
• DSCR +6.1/10.0
• 1% rule +5.2/10.0
• Condition / age +5.0/5.0
• ARV discount +3.3/15.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• Schools +1.7/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 5 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Brand New 5-Plex Multi-Family Building!Exceptional investment opportunity in a desirable multi-family subdivision just minutes from top schools, shopping, and dining.These newly built fourplexes offer modern design, strong tenant appeal, and immediate cash flow.Each unit features a bright open-concept layout with elegant wood-look tile flooring, a contemporary kitchen with custom cabinetry, quartz countertops, and a spacious island providing ample storage and workspace.Bedrooms are generously sized with large closets, and the primary suites include a luxurious frameless glass shower and walk-in closet. Additional highlights include private fenced backyards for every unit, stainless steel appliances, in-unit washer and dryer, and covered carports. This is an outstanding opportunity for investors seeking a low- maintenance, high-demand rental asset in a rapidly growing area.Don’t miss your chance to own a premium multi-family property with long-term value and impressive rental potential.

Key facts

• Custom cabinetry
• Quartz countertops
• Modern design

Tags

• MULTI-FAMILY BUILDING
• INVESTMENT OPPORTUNITY
• MODERN DESIGN
• OPEN-CONCEPT LAYOUT
• CUSTOM CABINETRY
• QUARTZ COUNTERTOPS

What this means for you Summary

Snapshot

• This is a 5 × 3-bed/2-bath units multifamily listed at $565k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $619 ($7k/yr) — positive. Per door: $124/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $565k).
• Recommended offer: $497k (12.0% 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.
• 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 rising (+2.5%/yr); 623 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).
• At $5,753/mo this rent would consume 126% 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 $60k of equity ($4k loan paydown + $56k 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 $158k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$97k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($497k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 96% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $497,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% 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: 1.02% ✓
• Cap rate: 7.61%
• Cash-on-cash: 4.70%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (median comp): $516,953
• List price: $565,000
• Delta: 9.29%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 27.5%
• Equity multiple: 3.18×
• Total profit: $344,090
• Equity at exit: $508,997

10-year hold

• IRR: 23.8%
• Equity multiple: 7.17×
• Total profit: $976,186
• Equity at exit: $1,097,671

Cash invested: $158,200 (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 78573

• Home prices YoY: 8.0%
• Rents YoY: 2.5%
• Active inventory: 623
• Price-to-rent: 40.9×

Monthly cashflow live

• Estimated rent: $5,753 high
• Mortgage (P&I): −$2,963
• Tax est. 1.5%: −$706 /mo · $8,475/yr
• Insurance: −$235
• HOA: −$21
• Vacancy / Maint / Mgmt: −$1,208
• Net cashflow: $619

Break-even live

Break-even rent $4,969

Max offer price $565,000

Occupancy floor 84%

Sensitivity live

Price	-10% $1,010	-5% $815	+0% $619	+5% $424	+10% $229
Rent	-10% $165	-5% $392	+0% $619	+5% $847	+10% $1,074
Rate	-1.0pp $904	-0.5pp $763	base $619	+0.5pp $473	+1.0pp $324

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

Units	Beds	Baths	Est. rent
▸ 5× units	3	2	$5,755
Total (5 units)			$5,753

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: $141,250
• Closing costs: $16,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1404 W Harrison Ave Unit 3 Alton, TX	3.0	2.0	4320	$1,100	$0.25	44d	1	0.29mi
825 S Michigan St Mission, TX	2.0	1.5	4144	$685	$0.17	24d	1	0.40mi
810 N Missouri St Unit 2 Alton, TX	2.0	2.0	3960	$950	$0.24	44d	1	0.79mi
913 W Kohala Ave #3 Mission, TX	2.0	2.0	4354	$975	$0.22	15d	1	1.09mi
1008 W Kohala Ave Unit 4 Alton, TX	2.0	2.0	3596	$1,100	$0.31	24d	1	1.11mi
312 W Campeche Ave Unit 3 Alton, TX	2.0	2.0	4050	$1,000	$0.25	24d	1	1.13mi
812 N Kentucky St Unit 2 Alton, TX	3.0	2.0	4032	$1,050	$0.26	44d	1	1.20mi
1101 W Sunset Valley St Unit 3 Alton, TX	2.0	2.0	4032	$1,000	$0.25	24d	1	1.21mi
116 W Campeche Ave Mission, TX	2.0	2.0	4050	$1,100	$0.27	24d	1	1.38mi

HOA detail

• Monthly dues: $21 · $252/yr

Listing history 15 events

1. 2026-06-18
   days on market $565,000 Active 185 DOM
2. 2026-06-17
   days on market $565,000 Active 184 DOM
3. 2026-06-16
   days on market $565,000 Active 183 DOM
4. 2026-06-15
   days on market $565,000 Active 182 DOM
5. 2026-06-14
   days on market $565,000 Active 180 DOM
6. 2026-06-10
   days on market $565,000 Active 177 DOM
7. 2026-06-09
   days on market $565,000 Active 176 DOM
8. 2026-06-08
   days on market $565,000 Active 175 DOM
9. 2026-06-07
   days on market $565,000 Active 174 DOM
10. 2026-06-03
    days on market $565,000 Active 170 DOM
11. 2026-06-02
    days on market $565,000 Active 169 DOM
12. 2026-06-01
    days on market $565,000 Active 168 DOM
13. 2026-05-31
    days on market $565,000 Active 167 DOM
14. 2026-05-31
    days on market $565,000 Active 166 DOM
15. 2025-12-15
    listed $565,000 Active 1006-char remark

    Show marketing remark (1006 chars)

    Brand New 5-Plex Multi-Family Building!Exceptional investment opportunity in a desirable multi-family subdivision just minutes from top schools, shopping, and dining.These newly built fourplexes offer modern design, strong tenant appeal, and immediate cash flow.Each unit features a bright open-concept layout with elegant wood-look tile flooring, a contemporary kitchen with custom cabinetry, quartz countertops, and a spacious island providing ample storage and workspace.Bedrooms are generously sized with large closets, and the primary suites include a luxurious frameless glass shower and walk-in closet. Additional highlights include private fenced backyards for every unit, stainless steel appliances, in-unit washer and dryer, and covered carports. This is an outstanding opportunity for investors seeking a low- maintenance, high-demand rental asset in a rapidly growing area.Don’t miss your chance to own a premium multi-family property with long-term value and impressive rental potential.

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°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 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $69,036
• − Mortgage interest: −$31,649
• − Property taxes: −$8,475
• − Insurance: −$2,825
• − Repairs & maintenance: −$5,523
• − Management: −$5,523
• − HOA: −$252
• − Depreciation: −$16,436
• Taxable loss: −$1,647
• Est. tax savings @ 24.0%: +$395
• After-tax cash flow: $7,827/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 · 7 photos

Excellent 100/100 None rehab

This newly built fourplex is in excellent condition with modern design and immediate cash flow potential. It offers a bright open-concept layout, elegant wood-look tile flooring, and a contemporary kitchen with custom cabinetry. The property is located in a desirable multi-family subdivision with top schools, shopping, and dining nearby.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the overall aesthetic and appeal of the property.
• Both Interior paint touch-ups — Maintains the modern design and enhances the interior ambiance.
• Both Landscaping and curb appeal improvements — Enhances the overall aesthetic and appeal of the property.
• Both Interior paint touch-ups — Maintains the modern design and enhances the interior ambiance.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the overall aesthetic and appeal of the property. ↑
• Both Interior paint touch-ups — Maintains the modern design and enhances the interior ambiance. ↑
• Both Landscaping and curb appeal improvements — Enhances the overall aesthetic and appeal of the property. ↑
• Both Interior paint touch-ups — Maintains the modern design and enhances the interior ambiance. ↑

ⓘ 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: 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 — 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

1 event — show timeline

• 2025-12-15 Listed $565,000 MCALLENMLS