600 New Mexico St · Alton, TX 78573

$120,000

3 bd · 2.0 ba · 851 sqft · SingleFamily public records · 159 Days on market

Built 2020 9,662 sqft lot $141/sqft · 7% above area Est $112k · 7% over ↓ 4% since listing

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Why this score? — see what drove the D 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 +11.8/30.0
• Appreciation +10.0/10.0
• 1% rule +4.3/10.0
• ARV discount +4.2/15.0
• DSCR +3.5/10.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0

Listing remarks MLS

*Motivated seller ready to make a deal happen! BRING YOUR OFFER! Take a look at this unique home, offering 2 bedrooms with 1 full bath plus an outdoor half-bathroom. The property offers an ample kitchen, living area, and bedroom. An 8-foot gated fence allows you privacy from the main road. A steel-framed covered workspace with 4 bays provides a great space for the outdoor projects. Don't wait to see this home. CALL TODAY!

Key facts

• Ample kitchen
• 8-foot gated fence
• Living area

Tags

• OUTDOOR HALF-BATHROOM
• AMPLE KITCHEN
• LIVING AREA
• 8-FOOT GATED FENCE
• STEEL-FRAMED COVERED WORKSPACE
• 4 BAYS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $-34 ($-403/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (4.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (7.3% below list).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.0% vs local median 2.5% 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: crime F, amenities F, commute 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.
• Zoned schools: Carl C Waitz El (math 8% / reading 22%, grade F, #4,021 of 4,322 statewide, top 94%, 396 students, 98% FRL); Alton Memorial J H (math 10% / reading 21%, grade F, #1,556 of 1,662 statewide, top 94%, 819 students, 91% FRL); Mission H S (math 18% / reading 28%, grade F, #1,348 of 1,632 statewide, top 83%, 2,218 students, 91% FRL) — zoned schools average 93% FRL vs 78% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.5%/yr); 625 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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).

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k 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 $34k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 159 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,600 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 159 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.93% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.20%
• DSCR: 0.95
• GRM: 9.0

CMA / ARV

• ARV (median comp): $111,814
• List price: $120,000
• Delta: 7.32%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
418 Nora Ln	0.44mi	2/2.0 (-1)	972 (+14%)	5mo	$105,000	$108	46

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: 23.2%
• Equity multiple: 2.87×
• Total profit: $62,671
• Equity at exit: $108,106

10-year hold

• IRR: 20.6%
• Equity multiple: 6.51×
• Total profit: $185,159
• Equity at exit: $233,134

Cash invested: $33,600 (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: 625
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,112 high
• Mortgage (P&I): −$629
• Tax from tax record: −$233 /mo · $2,795/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $-34

Break-even live

Break-even rent $1,155

Max offer price $114,065

Occupancy floor 98%

Sensitivity live

Price	-10% $34	-5% $0	+0% $-34	+5% $-68	+10% $-102
Rent	-10% $-121	-5% $-78	+0% $-34	+5% $10	+10% $54
Rate	-1.0pp $27	-0.5pp $-3	base $-34	+0.5pp $-65	+1.0pp $-96

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1410 S Michigan St Unit 4 Alton, TX	3.0	2.0	1054	$1,175	$1.11	45d	1	0.43mi
1409 S Michigan St Unit 1/3 Alton, TX	2.0	2.0	1005	$1,175	$1.17	21d	1	0.55mi
1409 S Michigan St Unit 1 Alton, TX	2.0	2.0	1100	$1,175	$1.07	16d	1	0.55mi
1503 W Saint Francis Ave Unit 3 Alton, TX	2.0	2.0	950	$885	$0.93	25d	1	0.66mi
1503 W Saint Francis Ave Apt 10 Alton, TX	2.0	2.0	950	$875	$0.92	45d	1	0.66mi
1302 W Harrison Ave Unit 1 Alton, TX	2.0	2.0	1050	$890	$0.85	45d	1	0.72mi
1310 W Harrison Ave Unit 3 Alton, TX	3.0	2.0	1050	$1,325	$1.26	25d	1	0.73mi
1310 W Harrison Ave Unit 2 Alton, TX	3.0	2.0	1050	$1,325	$1.26	45d	1	0.73mi
809 S Michigan St Unit 4 Alton, TX	2.0	1.5	1000	$875	$0.88	45d	1	0.75mi
825 S Mississippi St Unit C Alton, TX	2.0	2.0	912	$800	$0.88	21d	1	0.77mi
818 S Missouri St Unit 2 Alton, TX	2.0	2.0	869	$960	$1.10	45d	1	0.80mi
1309 W Garfield Ave Unit 3 Alton, TX	2.0	2.0	957	$900	$0.94	25d	1	0.80mi
1428 W Harrison Ave Unit 3 Alton, TX	2.0	2.0	1000	$975	$0.97	25d	1	0.82mi
810 S Missouri St Apt 2 Alton, TX	2.0	2.0	990	$925	$0.93	23d	1	0.82mi
1327 W Garfield Ave Unit 3 Alton, TX	2.0	2.0	995	$925	$0.93	25d	1	0.82mi
1421 W Harrison Ave Unit 6 Alton, TX	3.0	2.0	1008	$750	$0.74	25d	1	0.82mi
1327 W Garfield Ave Unit 2 Alton, TX	2.0	2.0	900	$1,000	$1.11	16d	1	0.83mi
1421 W Harrison Ave Alton, TX	3.0	2.0	1008	$925	$0.92	45d	1	0.83mi
1421 W Harrison Ave Alton, TX	3.0	2.0	1008	$750	$0.74	21d	1	0.83mi
1429 W Harrison Ave Unit 3 Alton, TX	2.0	1.0	562	$900	$1.60	25d	1	0.84mi
2708 W Harrison Ave Unit 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	25d	1	0.99mi
2816 W Harrison Ave Unit 1 Alton, TX	2.0	2.0	908	$1,075	$1.18	45d	1	0.99mi
2904 W Harrison Ave Apt 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	45d	1	0.99mi
2708 W Harrison Ave Unit 4 Alton, TX	3.0	2.0	1118	$1,225	$1.10	25d	1	0.99mi
2704 W Harrison Ave Unit 2 Alton, TX	3.0	2.0	1119	$1,225	$1.09	25d	1	0.99mi
2712 W Harrison Ave Unit 4 Alton, TX	3.0	2.0	1118	$1,225	$1.10	45d	1	0.99mi
2704 W Harrison Ave Unit 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	25d	1	0.99mi
2816 W Harrison Ave Apt 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	25d	1	0.99mi
2612 W Harrison Ave Apt 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	45d	1	0.99mi
2808 W Harrison Ave Unit 1 Alton, TX	2.0	2.0	908	$1,075	$1.18	45d	1	0.99mi
2904 W Harrison Ave Apt 2 Alton, TX	3.0	2.0	1118	$1,225	$1.10	45d	1	0.99mi
2812 W Harrison Ave Unit 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	45d	1	0.99mi
2712 W Harrison Ave Unit 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	45d	1	0.99mi
2809 W Harrison Ave Apt 1 Alton, TX	2.0	2.0	908	$1,075	$1.18	45d	1	1.01mi
2805 W Harrison Ave Apt 2 Alton, TX	3.0	2.0	1118	$1,225	$1.10	45d	1	1.01mi
2809 W Harrison Ave Apt 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	25d	1	1.01mi
2809 W Harrison Ave Unit 2 Alton, TX	3.0	2.0	1118	$1,225	$1.10	45d	1	1.01mi
2813 W Harrison Ave Apt 1 Alton, TX	2.0	2.0	908	$1,075	$1.18	45d	1	1.01mi
2813 W Harrison Ave Apt 2 Alton, TX	3.0	2.0	1118	$1,225	$1.10	25d	1	1.01mi
2805 W Harrison Ave Apt 2 Alton, TX	3.0	2.0	1118	$1,225	$1.10	25d	1	1.01mi

Listing history 18 events

1. 2026-06-21
   days on market $120,000 Active 159 DOM
2. 2026-06-18
   days on market $120,000 Active 156 DOM
3. 2026-06-17
   days on market $120,000 Active 155 DOM
4. 2026-06-16
   days on market $120,000 Active 154 DOM
5. 2026-06-15
   days on market $120,000 Active 153 DOM
6. 2026-06-14
   days on market $120,000 Active 151 DOM
7. 2026-06-10
   days on market $120,000 Active 148 DOM
8. 2026-06-09
   days on market $120,000 Active 147 DOM
9. 2026-06-08
   days on market $120,000 Active 146 DOM
10. 2026-06-07
    days on market $120,000 Active 145 DOM
11. 2026-06-03
    days on market $120,000 Active 141 DOM
12. 2026-06-02
    days on market $120,000 Active 140 DOM
13. 2026-06-01
    days on market $120,000 Active 139 DOM
14. 2026-05-31
    days on market $120,000 Active 138 DOM
15. 2026-05-31
    days on market $120,000 Active 137 DOM
16. 2026-03-11
    price $120,000 429-char remark

    Show marketing remark (429 chars)

    *Motivated seller ready to make a deal happen! BRING YOUR OFFER! Take a look at this unique home, offering 2 bedrooms with 1 full bath plus an outdoor half-bathroom. The property offers an ample kitchen, living area, and bedroom. An 8-foot gated fence allows you privacy from the main road. A steel-framed covered workspace with 4 bays provides a great space for the outdoor projects. Don't wait to see this home. CALL TODAY!

17. 2026-01-13
    listed $125,000 Active 429-char remark

    Show marketing remark (429 chars)

    *Motivated seller ready to make a deal happen! BRING YOUR OFFER! Take a look at this unique home, offering 2 bedrooms with 1 full bath plus an outdoor half-bathroom. The property offers an ample kitchen, living area, and bedroom. An 8-foot gated fence allows you privacy from the main road. A steel-framed covered workspace with 4 bays provides a great space for the outdoor projects. Don't wait to see this home. CALL TODAY!

18. 2025-09-17
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $2,795 · $233/mo
• Projected year-2 tax: $2,795 · $233/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 20 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: $13,346
• − Mortgage interest: −$6,722
• − Property taxes: −$2,795
• − Insurance: −$600
• − Repairs & maintenance: −$1,068
• − Management: −$1,068
• − Depreciation: −$3,491
• Taxable loss: −$2,397
• Est. tax savings @ 24.0%: +$575
• After-tax cash flow: $172/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.

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

• 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

-4.0% since first listed

3 events — show timeline

• 2026-03-11 Price Changed $120,000 MCALLENMLS
• 2026-01-13 Listed $125,000 MCALLENMLS
• 2025-09-17 Sold (Public Records) — Public Records

Property tax history

+15.1%/yr

Latest (2025): $2,795 · +20.0% YoY. Source: county tax records.