1032 Palm Dr · Alamo, TX 78516

$499,000

None bd · None ba · 4,312 sqft · MultiFamily · 218 Days on market

Built 2025 Excellent condition 10,399 sqft lot $116/sqft · at area comps Est $502k · at est. ↓ 1% 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 +17.9/30.0
• ARV discount +7.8/15.0
• DSCR +5.6/10.0
• Condition / age +5.0/5.0
• 1% rule +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Brand New multi family building with ALL 3 bedroom/2baths.Exceptional investment opportunity in a desirable multi-family subdivision just minutes from Expressway 83,top schools, shopping,and dining.Newly built fourplexes offer modern design, strong tenant appeal,and immediate cash flow.Each unit features an open-concept layout with wood-look tile flooring,a contemporary kitchen with custom cabinetry,quartz countertops, 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

• Contemporary kitchen
• Modern design
• Open-concept layout

Tags

• MULTI FAMILY BUILDING
• INVESTMENT OPPORTUNITY
• MODERN DESIGN
• OPEN-CONCEPT LAYOUT
• WOOD-LOOK TILE FLOORING
• CONTEMPORARY KITCHEN

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/2-bath units multifamily listed at $499k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive. Per door: $106/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 $490k (1.8% below list).
• Recommended offer: $439k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% vs local median 3.7% 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.

Location & tenants

• 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: 421 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals lingering (median 73d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k of value loss. Plan a longer hold.
• Hidalgo County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 218 days — a 12% lower offer ($439k) is reasonable based on typical stale-listing flexibility.

Recommended offer $439,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 218 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.98% ✗
• Cap rate: 7.31%
• Cash-on-cash: 3.63%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (median comp): $502,204
• List price: $499,000
• Delta: -0.64%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1200 Country Club Dr	0.35mi	—/—	4,228 (-2%)	13mo	$510,000	$121	69
1122 Country Club Dr	0.35mi	—/—	4,228 (-2%)	15mo	$510,000	$121	68
1229 Country Club Dr	0.35mi	—/—	3,998 (-7%)	14mo	$490,000	$123	60
428 Acacia St	1.11mi	—/—	4,172 (-3%)	0mo	$505,000	$121	59
425 E Acacia St	1.09mi	—/—	4,128 (-4%)	4mo	$465,000	$113	54
444 E Acacia St	1.06mi	—/—	4,266 (-1%)	11mo	$515,000	$121	54
421 E Acacia St	1.11mi	—/—	4,266 (-1%)	14mo	$480,000	$113	52
420 Acacia St	1.11mi	—/—	4,266 (-1%)	19mo	$480,000	$113	47
440 E Acacia Ave E	1.11mi	—/—	4,128 (-4%)	19mo	$515,000	$125	42
437 E Acacia Ave E	1.11mi	—/—	4,172 (-3%)	21mo	$525,000	$126	42

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

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -10.6%
• Equity multiple: 0.61×
• Total profit: $-53,875
• Equity at exit: $74,403

10-year hold

• IRR: -1.2%
• Equity multiple: 0.91×
• Total profit: $-11,961
• Equity at exit: $43,144

Cash invested: $139,720 (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 →

Active competition Active MLS

• For sale now: 6 active
• Median asking: $475,000 ($117/sqft)
• Median days on market: 218 d
• This list price: 67% of active listings are priced below it
• ARV vs active asking: -0.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78516

• Home prices YoY: -6.5%
• Active inventory: 421
• Price-to-rent: 33.9×

Monthly cashflow live

• Estimated rent: $4,900 high
• Mortgage (P&I): −$2,617
• Tax est. 1.5%: −$624 /mo · $7,485/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,029
• Net cashflow: $423

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	2	$4,900
Total (4 units)			$4,900

Break-even live

Break-even rent $4,365

Max offer price $499,000

Occupancy floor 86%

Sensitivity live

Price	-10% $767	-5% $595	+0% $423	+5% $250	+10% $78
Rent	-10% $35	-5% $229	+0% $423	+5% $616	+10% $810
Rate	-1.0pp $674	-0.5pp $549	base $423	+0.5pp $293	+1.0pp $162

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: $124,750
• Closing costs: $14,970
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1020 Palm Dr Unit 3 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	72d	1	0.02mi
1036 Palm Dr Unit 1 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	72d	1	0.02mi
1032 Palm Dr Apt 3 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	72d	1	0.02mi
443 Medina Ln Alamo, TX	2.0	2.0	908	$1,125	$1.24	16d	1	0.26mi
443 Medina Ln Unit 3 Alamo, TX	2.0	2.0	908	$1,125	$1.24	72d	1	0.26mi
435 Medina Ln Unit 1 Alamo, TX	2.0	2.0	908	$1,125	$1.24	72d	1	0.26mi
435 Medina Ln Unit 1 Alamo, TX	2.0	2.0	908	$1,200	$1.32	93d	1	0.26mi
1020 Palm Dr Unit 1 Alamo, TX	3.0	2.0	1078	$1,275	$1.18	93d	1	0.27mi
1020 Palm Dr Unit 1020-1 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	16d	1	0.27mi
427 Frio LN Alamo, TX	2.0	2.0	908	$1,200	$1.32	16d	1	0.28mi
529 Country Club Dr Alamo, TX	3.0	2.0	1419	$1,950	$1.37	63d	1	0.29mi
812 Santa Anna Dr Alamo, TX	2.0	2.0	1400	$1,700	$1.21	15d	1	0.30mi
427 Frio Ln Apt 1 Alamo, TX	2.0	2.0	908	$1,125	$1.24	70d	1	0.32mi
448 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	72d	1	0.32mi
440 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	93d	1	0.32mi
448 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	93d	1	0.32mi
440 Frio Ln Alamo, TX	2.0	2.0	908	$1,125	$1.24	16d	1	0.32mi
444 Frio Ln Alamo, TX	2.0	2.0	908	$1,125	$1.24	16d	1	0.32mi
440 Frio Ln Apt 1 Alamo, TX	2.0	2.0	908	$1,275	$1.40	93d	1	0.32mi
427 Frio Ln Apt 4 Alamo, TX	3.0	2.0	1118	$1,275	$1.14	93d	1	0.32mi
439 Frio Ln Unit 1 Alamo, TX	2.0	2.0	908	$1,125	$1.24	72d	1	0.32mi
444 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,125	$1.24	72d	1	0.32mi
440 Frio Ln Apt 3 Alamo, TX	2.0	2.0	908	$1,200	$1.32	72d	1	0.32mi
448 Frio Ln Alamo, TX	2.0	2.0	908	$1,125	$1.24	16d	1	0.32mi
1032 Palm Dr Unit 1032-3 Alamo, TX	3.0	2.0	1078	$1,225	$1.14	16d	1	0.34mi
1233 Country Club Dr Unit 4 Alamo, TX	2.0	2.0	1099	$1,050	$0.96	93d	1	0.37mi
1122 Country Club Dr Unit 4 Alamo, TX	3.0	2.0	1060	$1,200	$1.13	63d	1	0.37mi
438 Alma Ave Alamo, TX	4.0	2.0	1392	$1,600	$1.15	63d	1	0.92mi
909 Deluxe St Unit 4 Alamo, TX	2.0	2.0	906	$1,000	$1.10	15d	1	0.95mi
740 N Alamo Rd Unit 31 Alamo, TX	2.0	2.0	956	$1,150	$1.20	15d	1	0.95mi
740 N Alamo Rd Unit 1 Alamo, TX	2.0	2.0	956	$1,200	$1.26	93d	1	0.97mi
740 N Alamo Rd Unit 2 Alamo, TX	2.0	2.0	956	$1,075	$1.12	93d	1	0.97mi
740 N Alamo Rd Unit 2 Alamo, TX	2.0	2.0	956	$1,075	$1.12	72d	1	0.97mi
444 E Acacia Ave Unit 3 Alamo, TX	3.0	2.0	1107	$1,300	$1.17	72d	1	1.05mi
436 E Acacia Ave Alamo, TX	2.0	2.0	1130	$1,100	$0.97	16d	1	1.05mi
428 E Acacia Ave Unit 4 Alamo, TX	3.0	2.0	1040	$1,300	$1.25	72d	1	1.06mi
421 E Acacia Ave Unit 2 Alamo, TX	2.0	2.0	1100	$1,200	$1.09	16d	1	1.09mi
437 E Acacia Ave Unit 1 Alamo, TX	3.0	2.0	1043	$1,195	$1.15	16d	1	1.09mi
1225 Valle Vista St Unit 2 Alamo, TX	3.0	2.0	1040	$1,300	$1.25	93d	1	1.14mi
1305 Valle Vista St Unit 4 Alamo, TX	3.0	2.0	1050	$1,300	$1.24	93d	1	1.19mi

Listing history 26 events

1. 2026-06-30
   days on market $499,000 Active 218 DOM
2. 2026-06-29
   days on market $499,000 Active 217 DOM
3. 2026-06-28
   days on market $499,000 Active 216 DOM
4. 2026-06-28
   days on market $499,000 Active 215 DOM
5. 2026-06-27
   days on market $499,000 Active 214 DOM
6. 2026-06-25
   days on market $499,000 Active 212 DOM
7. 2026-06-23
   days on market $499,000 Active 210 DOM
8. 2026-06-21
   days on market $499,000 Active 209 DOM
9. 2026-06-18
   days on market $499,000 Active 206 DOM
10. 2026-06-17
    days on market $499,000 Active 205 DOM
11. 2026-06-16
    days on market $499,000 Active 204 DOM
12. 2026-06-15
    days on market $499,000 Active 203 DOM
13. 2026-06-14
    days on market $499,000 Active 201 DOM
14. 2026-06-13
    days on market $499,000 Active 200 DOM
15. 2026-06-10
    days on market $499,000 Active 198 DOM
16. 2026-06-09
    days on market $499,000 Active 197 DOM
17. 2026-06-08
    days on market $499,000 Active 196 DOM
18. 2026-06-07
    days on market $499,000 Active 195 DOM
19. 2026-06-05
    days on market $499,000 Active 192 DOM
20. 2026-06-03
    days on market $499,000 Active 191 DOM
21. 2026-06-02
    days on market $499,000 Active 190 DOM
22. 2026-06-01
    days on market $499,000 Active 189 DOM
23. 2026-05-31
    days on market $499,000 Active 188 DOM
24. 2026-05-31
    days on market $499,000 Active 187 DOM
25. 2025-12-08
    price $499,000 1004-char remark

    Show marketing remark (1004 chars)

    Brand New multi family building with ALL 3 bedroom/2baths.Exceptional investment opportunity in a desirable multi-family subdivision just minutes from Expressway 83,top schools, shopping,and dining.Newly built fourplexes offer modern design, strong tenant appeal,and immediate cash flow.Each unit features an open-concept layout with wood-look tile flooring,a contemporary kitchen with custom cabinetry,quartz countertops, 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.

26. 2025-11-24
    listed $505,000 Active 1004-char remark

    Show marketing remark (1004 chars)

    Brand New multi family building with ALL 3 bedroom/2baths.Exceptional investment opportunity in a desirable multi-family subdivision just minutes from Expressway 83,top schools, shopping,and dining.Newly built fourplexes offer modern design, strong tenant appeal,and immediate cash flow.Each unit features an open-concept layout with wood-look tile flooring,a contemporary kitchen with custom cabinetry,quartz countertops, 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.

Taxation est. · year 1

• Rental income: $58,800
• − Mortgage interest: −$27,952
• − Property taxes: −$7,485
• − Insurance: −$2,495
• − Repairs & maintenance: −$4,704
• − Management: −$4,704
• − Depreciation: −$14,516
• Taxable loss: −$3,056
• Est. tax savings @ 24.0%: +$733
• After-tax cash flow: $5,804/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 · 3 photos

Excellent 100/100 None rehab

This newly built fourplex is in excellent condition with modern design and strong tenant appeal, making it an excellent investment opportunity.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances curb appeal and tenant appeal. ↑
• Both Interior paint touch-ups — Maintains a fresh and inviting interior ambiance. ↑
• Both Kitchen and bathroom updates — Modernizes the spaces and enhances functionality. ↑
• Both Landscaping and curb appeal improvements — Enhances curb appeal and tenant appeal. ↑

F Composite school gradezoned avg 16/100

Zoned Schools

Elementary Capt D Salinas Ii El F TX #3,946/4,322 Nat'l #35,887/41,679 Middle Dora M Sauceda Middle F TX #1,507/1,662 Nat'l #12,181/14,009 High Donna North H S F TX #1,539/1,632 Nat'l #15,707/17,239

Schools (NCES district)

• District: Donna ISD
• NCES district ID: 4817390
• Math proficiency: 11% ▼ -30.00%
• Reading proficiency: 18% ▼ -13.00%
• Median HH income: $27,330
• Composite: 11.16/100
• National rank: #9728
• State rank: #821 of 826 in TX

C Composite livability gradescore 62/100

Livability — Alamo

• Score: 62/100
• State rank: #916
• US rank: #16356

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Alamo, TX
• County: Hidalgo County · 955,232 people
• City population: 34,370
• Metro: McAllen-Edinburg-Mission, TX
• Population (ZIP): 34,370
• Household income: $53,229
• Rent vs Own: 24.5% rent · 75.5% own
• Severe rent burden: 7% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (89%)
• Race & ethnicity: Hispanic / Latino 89% Two or more races 40% White 10% Black 1%
• Hispanic origin (detail): Mexican 86%
• Foreign-born: 29% · Canada
• Languages at home: 24% English-only · Spanish 76%

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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: ▼ -15.56%
• Current HPI: 225.4438
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

-1.2% since first listed

2 events — show timeline

• 2025-12-08 Price Changed $499,000 MCALLENMLS
• 2025-11-24 Listed $505,000 MCALLENMLS