2608 E Israel Ave · Alton, TX 78573

$510,000

None bd · None ba · 4,204 sqft · MultiFamily · 54 Days on market

Built 2024 Good condition 0.26 ac lot $121/sqft · 10% above area Est $462k · 10% over $42/mo HOA · 4% of rent ↓ 5% 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 +14.3/30.0
• Appreciation +10.0/10.0
• DSCR +4.4/10.0
• 1% rule +4.1/10.0
• Condition / age +4.0/5.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• ARV discount +2.8/15.0

Multi-family units

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

Listing remarks

One-Year-Old Construction, Fourplex in the Sunterra Subdivision, Featuring a Single-Story Brick and Stone Design. Fully Leased with Two 3-Bedroom, 2-Bath and Two 2-Bedroom, 2-Bath Units Offering Functional Layouts That Appeal to a Broad Tenant Base. Interiors Include Quartz Countertops, Custom Cabinetry, Samsung Appliances, and Clean, Modern Finishes Throughout. Well-Maintained, Low-Maintenance Property in Turnkey Condition, Positioned for Stable Occupancy and Minimal Ongoing Capital Needs.

Key facts

• Custom cabinetry
• Quartz countertops
• Samsung appliances

Tags

• ONE-YEAR-OLD CONSTRUCTION
• QUARTZ COUNTERTOPS
• CUSTOM CABINETRY
• SAMSUNG APPLIANCES
• CLEAN MODERN FINISHES
• LOW-MAINTENANCE PROPERTY

Property features AI

Finance

• Other: Lot approximately 0.26 acres (140 x 82) with wood fencing
• HOA & community: Mandatory POA/HOA (Sunterra Subdivision HOA); Annual association fee of $500; POA transfer fee applies; Community has curbs and sidewalks; Community contains 2 units

Exterior

• Parking: Covered carport with 8 spaces (no garage)
• Security: Smoke detector(s)
• Utilities: City sewer; Public water (1 water meter); Electric service (standard)
• Home design: No garage (has carport); Paved road access
• Construction: Brick and stone construction; Composition shingle roof; Slab foundation; Outbuilding: none; Building area approximately 4,204
• Exterior features: Sprinkler system; Professional landscaping; Sidewalks; Curbs

Interior

• Kitchen: Microwave; Refrigerator; Stove/Range
• Bedrooms: Walk-in closet(s)
• Flooring: Tile
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Built-in features; Ceiling fans; Energy-efficient double-pane windows; Smoke detectors; Programmable thermostat
• Laundry & utility: Washer; Dryer; Laundry closet; Water heater

What this means for you Summary

Snapshot

• This is a 2×3bd/2ba + 2×2bd/2ba units multifamily listed at $510k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $95 ($1k/yr) — positive. Per door: $24/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 $464k (9.1% below list).
• Recommended offer: $464k (9.1% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: crime F, amenities F, commute F.
• Sharyland ISD (urban): math 34% / reading 44% proficiency, ranked #406 of 826 in TX (top 49%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Jessie L Jensen El (math 12% / reading 22%, grade F, #3,836 of 4,322 statewide, top 91%, 543 students, 88% FRL); Sharyland North J H (math 46% / reading 42%, grade D, #512 of 1,662 statewide, top 32%, 806 students, 74% FRL); Sharyland Pioneer H S (math 31% / reading 51%, grade F, #774 of 1,632 statewide, top 49%, 1,471 students, 68% FRL) — zoned schools average 77% FRL vs 55% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.5%/yr); 623 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% 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 $4,635/mo this rent would consume 101% 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 $55k of equity ($4k loan paydown + $51k 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 $143k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$88k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($495k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago 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 $463,500 (9.1% below list)

Questions for the listing agent

1. It's been on market 54 days. Have you received any prior offers? Is the seller open to a 9% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.91% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.80%
• DSCR: 1.04
• GRM: 9.2

CMA / ARV

• ARV (median comp): $461,911
• List price: $510,000
• Delta: 10.41%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2904 E Israel Ave	0.05mi	—/—	4,168 (-1%)	4mo	$515,000	$124	93
2612 E Israel Ave	0.07mi	—/—	4,168 (-1%)	4mo	$515,000	$124	92
2604 Israel Ave	0.09mi	—/—	4,032 (-4%)	2mo	$499,000	$124	87
2709 E Israel Ave	0.03mi	—/—	4,032 (-4%)	8mo	$515,000	$128	85
1417 S Xanthia St	0.48mi	—/—	4,216 (+0%)	6mo	$489,000	$116	72
2912 E Israel Ave	0.00mi	—/—	4,632 (+10%)	16mo	$549,900	$119	69
1220 S Xanthia St	0.43mi	—/—	4,029 (-4%)	8mo	$479,000	$119	66
1300 S Yankton St	0.48mi	—/—	4,054 (-4%)	7mo	$478,000	$118	66
1221 S Yankton	0.46mi	—/—	4,029 (-4%)	8mo	$479,000	$119	65
2908 E Israel Ave	0.15mi	—/—	4,632 (+10%)	17mo	$549,900	$119	62
2611 E Eisenhower Ave	0.27mi	—/—	3,600 (-14%)	4mo	$390,000	$108	60
704 S Linda St	0.20mi	—/—	3,600 (-14%)	16mo	$380,000	$106	53

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: 24.7%
• Equity multiple: 2.97×
• Total profit: $281,365
• Equity at exit: $459,448

10-year hold

• IRR: 21.7%
• Equity multiple: 6.73×
• Total profit: $818,935
• Equity at exit: $990,818

Cash invested: $142,800 (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: 35.7×

Monthly cashflow live

• Estimated rent: $4,635 high
• Mortgage (P&I): −$2,674
• Tax est. 1.5%: −$638 /mo · $7,650/yr
• Insurance: −$212
• HOA: −$42
• Vacancy / Maint / Mgmt: −$973
• Net cashflow: $95

Break-even live

Break-even rent $4,515

Max offer price $510,000

Occupancy floor 93%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,382
▸ 2× units	2	2	$2,254
Total (4 units)			$4,635

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: $127,500
• Closing costs: $15,300
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2904 E Israel Ave Unit A Alton, TX	2.0	2.0	4172	$1,200	$0.29	43d	1	0.05mi
2612 E Israel Ave Unit A Alton, TX	2.0	2.0	4172	$1,200	$0.29	43d	1	0.06mi
1100 S Stewart Blvd Alton, TX	2.0	1.0	3991	$959	$0.24	43d	1	0.06mi
2703 E Garfield Ave Unit A Alton, TX	3.0	2.0	4088	$950	$0.23	23d	1	0.22mi
2601 E Garfield Ave Unit 2 Alton, TX	2.0	2.0	4292	$975	$0.23	43d	1	0.23mi
5704 Puffin Ave Unit 4 Palmhurst, TX	2.0	2.0	4372	$1,050	$0.24	43d	1	1.00mi

HOA detail

• Monthly dues: $42 · $504/yr

Listing history 17 events

1. 2026-06-18
   days on market $510,000 Active 54 DOM
2. 2026-06-17
   days on market $510,000 Active 53 DOM
3. 2026-06-16
   days on market $510,000 Active 52 DOM
4. 2026-06-15
   days on market $510,000 Active 51 DOM
5. 2026-06-14
   days on market $510,000 Active 49 DOM
6. 2026-06-10
   days on market $510,000 Active 46 DOM
7. 2026-06-09
   days on market $510,000 Active 45 DOM
8. 2026-06-08
   days on market $510,000 Active 44 DOM
9. 2026-06-07
   days on market $510,000 Active 43 DOM
10. 2026-06-03
    days on market $510,000 Active 39 DOM
11. 2026-06-02
    days on market $510,000 Active 38 DOM
12. 2026-06-01
    days on market $510,000 Active 37 DOM
13. 2026-05-31
    days on market $510,000 Active 36 DOM
14. 2026-05-31
    days on market $510,000 Active 35 DOM
15. 2026-04-25
    listed $510,000 Active 495-char remark
16. 2025-12-05
    listed $515,000 Active
17. 2024-11-25
    listed $539,500 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: $55,620
• − Mortgage interest: −$28,568
• − Property taxes: −$7,650
• − Insurance: −$2,550
• − Repairs & maintenance: −$4,450
• − Management: −$4,450
• − HOA: −$504
• − Depreciation: −$14,836
• Taxable loss: −$7,387
• Est. tax savings @ 24.0%: +$1,773
• After-tax cash flow: $2,915/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

Good 80/100 None rehab

This fourplex is in excellent condition, fully leased, and positioned for stable occupancy and minimal ongoing capital needs. It offers a good investment opportunity with potential for modest improvements to further enhance its value.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract tenants.
• Both Addition of smart home features — Smart home features can increase both resale and rental value by making the property more modern and convenient.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract tenants. ↑
• Both Addition of smart home features — Smart home features can increase both resale and rental value by making the property more modern and convenient. ↑

ⓘ 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: Sharyland ISD
• NCES district ID: 4839930
• Math proficiency: 34% ▼ -35.00%
• Reading proficiency: 44% ▼ -15.00%
• Median HH income: $57,792
• Composite: 34.38/100
• National rank: #5214
• State rank: #406 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

-5.5% since first listed

3 events — show timeline

• 2026-04-25 Listed $510,000 MCALLENMLS
• 2025-12-05 Listed $515,000 MCALLENMLS
• 2024-11-25 Listed $539,500 MCALLENMLS