447 Frio Ln · Alamo, TX 78516

$495,000

None bd · None ba · 4,098 sqft · MultiFamily · 75 Days on market

Built 2026 Excellent condition 0.26 ac lot $121/sqft · at area comps Est $496k · at est. ↓ 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 +14.4/30.0
• ARV discount +7.6/15.0
• Condition / age +5.0/5.0
• DSCR +4.4/10.0
• 1% rule +4.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.0/10.0
• 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

Discover this brand new 4-plex currently under construction in the heart of Alamo! Each unit features a spacious open floor plan including two bedrooms with a third room adaptable as a home office, library, or gym. Enjoy two full bathrooms in each unit. This property is versatile for various tenant needs. Conveniently located near Expressway 83, schools, and restaurants, this property offers an excellent investment opportunity. Don't miss the chance to own this gem!

Key facts

• Open floor plan
• Home office
• 0.26 acre lot

Tags

• OPEN FLOOR PLAN
• HOME OFFICE

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/2-bath units multifamily listed at $495k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $99 ($1k/yr) — positive. Per door: $25/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 $446k (10.0% below list).
• Recommended offer: $446k (10.0% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.8% 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.
• Pharr-San Juan-Alamo ISD (suburban): math 18% / reading 30% proficiency, ranked #740 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: John Mckeever El (math 18% / reading 24%, grade F, #3,492 of 4,322 statewide, top 81%, 723 students, 88% FRL); Alamo Middle (math 10% / reading 22%, grade F, #1,543 of 1,662 statewide, top 94%, 698 students, 94% FRL); Psja Memorial Early College H S (math 20% / reading 31%, grade F, #1,246 of 1,632 statewide, top 77%, 1,860 students, 94% FRL) — zoned schools average 92% FRL vs 72% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 349 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $4,455/mo this rent would consume 100% of the median local household income ($53k/yr) (locally 476% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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 75 days — a 6% lower offer ($465k) is reasonable based on typical stale-listing flexibility.
• 2 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.

Recommended offer $445,500 (10.0% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 10% 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: 0.90% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.85%
• DSCR: 1.04
• GRM: 9.3

CMA / ARV

• ARV (median comp): $495,952
• List price: $495,000
• Delta: -0.19%
• Verdict: FAIR
• Comps: 2 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
909 Glory St	0.25mi	—/—	4,200 (+2%)	18mo	$520,000	$124	69

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: -14.9%
• Equity multiple: 0.47×
• Total profit: $-73,863
• Equity at exit: $73,806

10-year hold

• IRR: -6.3%
• Equity multiple: 0.60×
• Total profit: $-55,958
• Equity at exit: $42,799

Cash invested: $138,600 (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 78516

• Home prices YoY: -6.5%
• Active inventory: 349
• Price-to-rent: 37.0×

Monthly cashflow live

• Estimated rent: $4,455 high
• Mortgage (P&I): −$2,596
• Tax est. 1.5%: −$619 /mo · $7,425/yr
• Insurance: −$206
• HOA: −$0
• Vacancy / Maint / Mgmt: −$936
• Net cashflow: $99

Break-even live

Break-even rent $4,330

Max offer price $495,000

Occupancy floor 93%

Sensitivity live

Price	-10% $441	-5% $270	+0% $99	+5% $-72	+10% $-243
Rent	-10% $-253	-5% $-77	+0% $99	+5% $275	+10% $451
Rate	-1.0pp $348	-0.5pp $225	base $99	+0.5pp $-30	+1.0pp $-160

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	2	$4,456
Total (4 units)			$4,455

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: $123,750
• Closing costs: $14,850
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1600 Angelina Dr Unit 4 San Juan, TX	2.0	2.0	4322	$1,150	$0.27	45d	1	1.00mi
1600 Angelina Dr Unit 1 San Juan, TX	3.0	2.0	4322	$1,200	$0.28	25d	1	1.00mi
1602 Angelina Dr Unit 1 San Juan, TX	3.0	2.0	4322	$1,200	$0.28	16d	1	1.00mi
445 E Acacia Ave Unit 1 Alamo, TX	3.0	2.0	4266	$1,100	$0.26	25d	1	1.03mi
1607 Angelina Dr Unit 4 San Juan, TX	3.0	2.0	4322	$1,350	$0.31	16d	1	1.05mi
1805 Angelina Dr Unit 2 San Juan, TX	3.0	2.0	4148	$1,150	$0.28	25d	1	1.09mi
413 E Acacia Ave Unit 2 Alamo, TX	2.0	2.0	4266	$1,025	$0.24	25d	1	1.12mi
308 Rafael Dr Unit 4 San Juan, TX	3.0	2.0	4200	$1,250	$0.30	45d	1	1.32mi
209 Rafael Dr Unit 4 San Juan, TX	2.0	2.0	4212	$1,150	$0.27	45d	1	1.35mi
209 Rafael Dr Unit 2 San Juan, TX	3.0	2.0	4212	$1,250	$0.30	45d	1	1.35mi

Listing history 19 events

1. 2026-06-22
   days on market $495,000 Active 75 DOM
2. 2026-06-18
   days on market $495,000 Active 72 DOM
3. 2026-06-17
   days on market $495,000 Active 71 DOM
4. 2026-06-16
   days on market $495,000 Active 70 DOM
5. 2026-06-15
   days on market $495,000 Active 69 DOM
6. 2026-06-14
   pricedays on market $495,000 Active 67 DOM
7. 2026-06-13
   days on market $505,000 Active 66 DOM
8. 2026-06-10
   days on market $505,000 Active 64 DOM
9. 2026-06-09
   days on market $505,000 Active 63 DOM
10. 2026-06-08
    days on market $505,000 Active 62 DOM
11. 2026-06-07
    days on market $505,000 Active 61 DOM
12. 2026-06-03
    days on market $505,000 Active 57 DOM
13. 2026-06-02
    days on market $505,000 Active 56 DOM
14. 2026-06-01
    days on market $505,000 Active 55 DOM
15. 2026-05-31
    days on market $505,000 Active 54 DOM
16. 2026-05-31
    days on market $505,000 Active 53 DOM
17. 2026-04-07
    listed $505,000 Active 470-char remark

    Show marketing remark (470 chars)

    Discover this brand new 4-plex currently under construction in the heart of Alamo! Each unit features a spacious open floor plan including two bedrooms with a third room adaptable as a home office, library, or gym. Enjoy two full bathrooms in each unit. This property is versatile for various tenant needs. Conveniently located near Expressway 83, schools, and restaurants, this property offers an excellent investment opportunity. Don't miss the chance to own this gem!

18. 2026-02-19
    price $505,000
19. 2026-01-02
    listed $525,000 Active

ⓘ 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: $53,460
• − Mortgage interest: −$27,728
• − Property taxes: −$7,425
• − Insurance: −$2,475
• − Repairs & maintenance: −$4,277
• − Management: −$4,277
• − Depreciation: −$14,400
• Taxable loss: −$7,121
• Est. tax savings @ 24.0%: +$1,709
• After-tax cash flow: $2,893/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

Excellent 100/100 None rehab

This brand new 4-plex is move-in ready with modern finishes and a prime location. Ideal for investors looking to capitalize on the growing demand in the area.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value
• Both Painting exterior and interior — Fresh paint can improve curb appeal and interior aesthetics
• Both Add smart home features — Enhances convenience and adds value for potential buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Painting exterior and interior — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both Add smart home features — Enhances convenience and adds value for potential buyers ↑

ⓘ 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: Pharr-San Juan-Alamo ISD
• NCES district ID: 4834860
• Math proficiency: 18% ▼ -34.00%
• Reading proficiency: 30% ▼ -11.00%
• Median HH income: $33,757
• Composite: 19.63/100
• National rank: #8744
• State rank: #740 of 826 in TX

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 · 623,128 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: 476.0

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 (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%

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: 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

-3.8% since first listed

3 events — show timeline

• 2026-04-07 Listed $505,000 MCALLENMLS
• 2026-02-19 Price Changed $505,000 MCALLENMLS
• 2026-01-02 Listed $525,000 MCALLENMLS