2508 E Harrison Ave · Alton, TX 78573

$469,000

None bd · None ba · 4,052 sqft · MultiFamily · 189 Days on market

Built 2025 Good condition 9,739 sqft lot $116/sqft · 9% below area Est $517k · 9% under $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 +16.6/30.0
• ARV discount +11.7/15.0
• Appreciation +10.0/10.0
• DSCR +5.2/10.0
• 1% rule +4.6/10.0
• Condition / age +4.0/5.0
• 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 (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Discover Your Next Investment Opportunity at Westwood Villas! Now available in Westwood Villas, this fourplex in Alton, Texas offers an excellent opportunity for both seasoned investors and first-time homebuyers looking to house-hack or generate rental income. Conveniently located along Stewart Rd and Lark Ave, this property provides easy access to major roads, schools, shopping, and everyday essentials. This modern fourplex features a highly desirable unit mix: Two (2) units: 2-bedroom, 2-bath and the other two (2) units: 3-bedroom, 2-bath. Each unit is thoughtfully designed with functional layouts to attract long-term tenants and provide steady rental potential. Whether you’re growing your portfolio or purchasing your first income-producing property, this fourplex offers flexibility, income opportunity, and long-term value in a rapidly developing area. Don’t miss this chance to own a strong multifamily property in one of Alton’s newest communities.

Key facts

• 9,739 sq ft lot
• Garage
• Built 2025

What this means for you Summary

Snapshot

• This is a 2×2bd/2ba + 2×3bd/2ba units multifamily listed at $469k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $287 ($3k/yr) — positive. Per door: $72/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $449k (4.2% below list).
• Recommended offer: $413k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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 23d on market — plan ~3-4 weeks tenant-placement turnaround); 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).
• At $4,493/mo this rent would consume 98% 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 $50k of equity ($3k loan paydown + $47k 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 $131k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$81k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($413k) 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→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $412,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 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: 0.96% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.63%
• DSCR: 1.12
• GRM: 8.7

CMA / ARV

• ARV (median comp): $516,953
• List price: $469,000
• Delta: -9.28%
• 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
2508 E Harrison Ave	0.00mi	—/—	4,052 (0%)	0mo	$469,000	$116	100
2705 E Israel Ave	0.02mi	—/—	4,032 (-0%)	10mo	$520,000	$129	90
2605 E Israel Ave	0.02mi	—/—	4,032 (-0%)	12mo	$535,000	$133	88
2812 E Israel Ave	0.05mi	—/—	4,032 (-0%)	12mo	$500,000	$124	87
2513 E Israel Ave	0.02mi	—/—	4,319 (+7%)	9mo	$535,000	$124	81
2713 E Israel Ave	0.02mi	—/—	4,319 (+7%)	10mo	$534,900	$124	80
1410 S Michigan St	0.56mi	—/—	4,010 (-1%)	0mo	$450,000	$112	72
1521 W St. Francis Ave	0.40mi	—/—	3,992 (-2%)	11mo	$489,000	$122	70
1406 S Michigan St	0.44mi	—/—	4,010 (-1%)	11mo	$465,000	$116	69
1406 S Michigan St	0.55mi	—/—	4,010 (-1%)	6mo	$465,000	$116	68
1310 Harrison	0.36mi	12/8.0	4,200 (+4%)	16mo	$495,500	$118	64
1414 S Michigan St	0.44mi	—/—	4,190 (+3%)	12mo	$505,000	$121	64

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: 26.0%
• Equity multiple: 3.07×
• Total profit: $271,337
• Equity at exit: $422,512

10-year hold

• IRR: 22.7%
• Equity multiple: 6.94×
• Total profit: $779,906
• Equity at exit: $911,164

Cash invested: $131,320 (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: 35.8×

Monthly cashflow live

• Estimated rent: $4,493 high
• Mortgage (P&I): −$2,459
• Tax est. 1.5%: −$586 /mo · $7,035/yr
• Insurance: −$195
• HOA: −$21
• Vacancy / Maint / Mgmt: −$944
• Net cashflow: $287

Break-even live

Break-even rent $4,129

Max offer price $469,000

Occupancy floor 89%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,186
▸ 2× units	3	2	$2,306
Total (4 units)			$4,493

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: $117,250
• Closing costs: $14,070
• 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	43d	1	0.33mi
825 S Michigan St Mission, TX	2.0	1.5	4144	$685	$0.17	23d	1	0.46mi
810 N Missouri St Unit 2 Alton, TX	2.0	2.0	3960	$950	$0.24	43d	1	0.88mi
913 W Kohala Ave #3 Mission, TX	2.0	2.0	4354	$975	$0.22	14d	1	1.18mi
1008 W Kohala Ave Unit 4 Alton, TX	2.0	2.0	3596	$1,100	$0.31	23d	1	1.20mi
312 W Campeche Ave Unit 3 Alton, TX	2.0	2.0	4050	$1,000	$0.25	23d	1	1.22mi
812 N Kentucky St Unit 2 Alton, TX	3.0	2.0	4032	$1,050	$0.26	43d	1	1.29mi
1101 W Sunset Valley St Unit 3 Alton, TX	2.0	2.0	4032	$1,000	$0.25	23d	1	1.30mi
116 W Campeche Ave Mission, TX	2.0	2.0	4050	$1,100	$0.27	23d	1	1.47mi

HOA detail

• Monthly dues: $21 · $252/yr

Listing history 10 events

1. 2026-06-10
   days on market $469,000 Active 189 DOM
2. 2026-06-09
   days on market $469,000 Active 188 DOM
3. 2026-06-08
   days on market $469,000 Active 187 DOM
4. 2026-06-07
   days on market $469,000 Active 186 DOM
5. 2026-06-03
   days on market $469,000 Active 182 DOM
6. 2026-06-02
   days on market $469,000 Active 181 DOM
7. 2026-06-01
   days on market $469,000 Active 180 DOM
8. 2026-05-31
   days on market $469,000 Active 179 DOM
9. 2026-05-31
   days on market $469,000 Active 178 DOM
10. 2025-12-03
    listed $469,000 Active 982-char remark

    Show marketing remark (982 chars)

    Discover Your Next Investment Opportunity at Westwood Villas! Now available in Westwood Villas, this fourplex in Alton, Texas offers an excellent opportunity for both seasoned investors and first-time homebuyers looking to house-hack or generate rental income. Conveniently located along Stewart Rd and Lark Ave, this property provides easy access to major roads, schools, shopping, and everyday essentials. This modern fourplex features a highly desirable unit mix: Two (2) units: 2-bedroom, 2-bath and the other two (2) units: 3-bedroom, 2-bath. Each unit is thoughtfully designed with functional layouts to attract long-term tenants and provide steady rental potential. Whether you’re growing your portfolio or purchasing your first income-producing property, this fourplex offers flexibility, income opportunity, and long-term value in a rapidly developing area. Don’t miss this chance to own a strong multifamily property in one of Alton’s newest communities.

ⓘ 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 · 22 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: $53,916
• − Mortgage interest: −$26,271
• − Property taxes: −$7,035
• − Insurance: −$2,345
• − Repairs & maintenance: −$4,313
• − Management: −$4,313
• − HOA: −$252
• − Depreciation: −$13,644
• Taxable loss: −$4,257
• Est. tax savings @ 24.0%: +$1,022
• After-tax cash flow: $4,470/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 · 6 photos

Good 80/100 Cosmetic rehab

This fourplex is in excellent condition with no visible repairs needed. It offers a good investment opportunity with potential for rental or resale value enhancement through minor updates.

Value-add opportunities

• Both Paint exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Install landscaping around the front yard — Landscaping improves curb appeal and adds value
• Both Install new flooring in bathrooms — New flooring in bathrooms enhances aesthetics and functionality
• Both Install new kitchen appliances — New appliances in the kitchen improve functionality and aesthetics
• Both Install new bathroom fixtures — New fixtures in bathrooms enhance functionality and aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Install landscaping around the front yard — Landscaping improves curb appeal and adds value ↑
• Both Install new flooring in bathrooms — New flooring in bathrooms enhances aesthetics and functionality ↑
• Both Install new kitchen appliances — New appliances in the kitchen improve functionality and aesthetics ↑
• Both Install new bathroom fixtures — New fixtures in bathrooms enhance functionality and aesthetics ↑

ⓘ 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

• 2025-12-03 Listed $469,000 MCALLENMLS