114 Montemorelos St · Alton, TX 78573

$419,000

None bd · None ba · 3,818 sqft · MultiFamily · 91 Days on market

Built 2016 0.33 ac lot $110/sqft · at area comps Est $429k · at est.

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Why this score? — see what drove the B- 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 +24.6/30.0
• Appreciation +10.0/10.0
• ARV discount +8.6/15.0
• DSCR +7.9/10.0
• 1% rule +6.4/10.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• Condition / age +2.5/5.0
• 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

If you’re searching for your next investment property, this fully occupied fourplex in PalmaSola is a must-see! Each of the 4 units features 3 bedrooms and 2 bathrooms, complete with all appliances—including in-unit washers and dryers. Well-maintained and cash-flowing, it’s the ideal addition to any portfolio. Strategically located near McAllen, Mission, Palmhurst, and Edinburg, this property offers spacious bedrooms, energy-efficient construction, and smart building orientation. Each unit comes with 2 dedicated parking spaces, and the fourplex sits on a generous 0.33-acre corner lot. Don’t miss this prime investment opportunity!

Key facts

• 0.33-acre corner lot
• 0.33 acre lot
• Built 2016

Tags

• IN-UNIT WASHERS AND DRYERS
• ENERGY-EFFICIENT CONSTRUCTION
• SMART BUILDING ORIENTATION
• DEDICATED PARKING SPACES
• 0.33-ACRE CORNER LOT
• PRIME INVESTMENT OPPORTUNITY

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/2-bath units multifamily listed at $419k.

Deal economics

• At list price, monthly cash flow is $867 ($10k/yr) — positive. Per door: $217/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $419k).
• Recommended offer: $381k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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 $4,763/mo this rent would consume 104% 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 $45k of equity ($3k loan paydown + $42k 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 $117k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$72k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($381k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate 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 $381,290 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 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. 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 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. 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 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: 1.14% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.87%
• DSCR: 1.39
• GRM: 7.3

CMA / ARV

• ARV (median comp): $429,314
• List price: $419,000
• Delta: -2.40%
• 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
201 N Linares St	0.04mi	—/—	3,696 (-3%)	14mo	$365,000	$99	81
206 N Linares St	0.08mi	—/—	4,080 (+7%)	15mo	$400,000	$98	72
2611 E Eisenhower Ave	0.55mi	—/—	3,600 (-6%)	4mo	$390,000	$108	61
3107 E Diamondhead Ave	0.64mi	—/—	3,744 (-2%)	7mo	$319,500	$85	61
3106 E Diamondhead Ave	0.66mi	—/—	3,672 (-4%)	16mo	$349,000	$95	50
704 S Linda St	0.69mi	—/—	3,600 (-6%)	16mo	$380,000	$106	45
2806 Eisenhower Ave	0.62mi	—/—	3,600 (-6%)	20mo	$450,000	$125	45
3004 E Diamond Head Ave	0.60mi	—/—	3,449 (-10%)	24mo	$360,000	$104	36
2706 E Garfield Ave	0.65mi	—/—	4,144 (+8%)	24mo	$465,000	$112	36
2710 E Garfield Ave	0.66mi	—/—	4,144 (+8%)	24mo	$475,000	$115	35
2804 E Garfield Ave	0.67mi	—/—	4,144 (+8%)	24mo	$475,000	$115	35
2808 E Garfield Ave	0.68mi	—/—	4,144 (+8%)	24mo	$465,000	$112	34

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: 30.5%
• Equity multiple: 3.39×
• Total profit: $280,878
• Equity at exit: $377,468

10-year hold

• IRR: 26.3%
• Equity multiple: 7.64×
• Total profit: $778,650
• Equity at exit: $814,025

Cash invested: $117,320 (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: 29.3×

Monthly cashflow live

• Estimated rent: $4,763 high
• Mortgage (P&I): −$2,197
• Tax est. 1.5%: −$524 /mo · $6,285/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,000
• Net cashflow: $867

Break-even live

Break-even rent $3,665

Max offer price $419,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	2	$4,764
Total (4 units)			$4,763

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2601 E Garfield Ave Unit 2 Alton, TX	2.0	2.0	4292	$975	$0.23	43d	1	0.58mi
2703 E Garfield Ave Unit A Alton, TX	3.0	2.0	4088	$950	$0.23	23d	1	0.60mi
2612 E Israel Ave Unit A Alton, TX	2.0	2.0	4172	$1,200	$0.29	43d	1	0.78mi
2904 E Israel Ave Unit A Alton, TX	2.0	2.0	4172	$1,200	$0.29	43d	1	0.83mi
1100 S Stewart Blvd Alton, TX	2.0	1.0	3991	$959	$0.24	43d	1	0.84mi
312 E Campeche St Unit 4 Alton, TX	3.0	2.0	4050	$1,165	$0.29	43d	1	1.13mi
116 W Campeche Ave Mission, TX	2.0	2.0	4050	$1,100	$0.27	23d	1	1.38mi

Listing history 24 events

1. 2026-06-18
   days on market $419,000 Active 91 DOM
2. 2026-06-17
   days on market $419,000 Active 90 DOM
3. 2026-06-16
   days on market $419,000 Active 89 DOM
4. 2026-06-15
   days on market $419,000 Active 88 DOM
5. 2026-06-14
   days on market $419,000 Active 86 DOM
6. 2026-06-10
   days on market $419,000 Active 83 DOM
7. 2026-06-09
   days on market $419,000 Active 82 DOM
8. 2026-06-08
   days on market $419,000 Active 81 DOM
9. 2026-06-07
   days on market $419,000 Active 80 DOM
10. 2026-06-03
    days on market $419,000 Active 76 DOM
11. 2026-06-02
    days on market $419,000 Active 75 DOM
12. 2026-06-01
    days on market $419,000 Active 74 DOM
13. 2026-05-31
    days on market $419,000 Active 73 DOM
14. 2026-05-31
    days on market $419,000 Active 72 DOM
15. 2026-03-19
    listed $419,000 Active 664-char remark

    Show marketing remark (664 chars)

    If you’re searching for your next investment property, this fully occupied fourplex in PalmaSola is a must-see! Each of the 4 units features 3 bedrooms and 2 bathrooms, complete with all appliances—including in-unit washers and dryers. Well-maintained and cash-flowing, it’s the ideal addition to any portfolio. Strategically located near McAllen, Mission, Palmhurst, and Edinburg, this property offers spacious bedrooms, energy-efficient construction, and smart building orientation. Each unit comes with 2 dedicated parking spaces, and the fourplex sits on a generous 0.33-acre corner lot. Don’t miss this prime investment opportunity!

16. 2020-10-21
    price $253,600 655-char remark

    Show marketing remark (655 chars)

    If you are looking for a great location, comfort, and nice design you can have it at PalmaSola Apartments. This building has 4 apartments, 2 3 bed/2 bath and 2 with 2 bedrooms/2 full bathrooms, and is located in the middle of all cities (McAllen, Mission, Palm Hurst, and Edinburg) The location is ideal if you need to go to several cities everyday. They feature a nicely custom kitchen with wood cabinets, fridge, stove, washer and dryer; nice living/dining room to share with friends or family; the 2 bedrooms have nice sizes, high efficiency construction and building orientation, 2 car spaces per apartment, and many more.... all you can ask to have.

17. 2020-10-19
    soldstatus Sold 655-char remark

    Show marketing remark (655 chars)

    If you are looking for a great location, comfort, and nice design you can have it at PalmaSola Apartments. This building has 4 apartments, 2 3 bed/2 bath and 2 with 2 bedrooms/2 full bathrooms, and is located in the middle of all cities (McAllen, Mission, Palm Hurst, and Edinburg) The location is ideal if you need to go to several cities everyday. They feature a nicely custom kitchen with wood cabinets, fridge, stove, washer and dryer; nice living/dining room to share with friends or family; the 2 bedrooms have nice sizes, high efficiency construction and building orientation, 2 car spaces per apartment, and many more.... all you can ask to have.

18. 2020-08-07
    status Pending 655-char remark

    Show marketing remark (655 chars)

    If you are looking for a great location, comfort, and nice design you can have it at PalmaSola Apartments. This building has 4 apartments, 2 3 bed/2 bath and 2 with 2 bedrooms/2 full bathrooms, and is located in the middle of all cities (McAllen, Mission, Palm Hurst, and Edinburg) The location is ideal if you need to go to several cities everyday. They feature a nicely custom kitchen with wood cabinets, fridge, stove, washer and dryer; nice living/dining room to share with friends or family; the 2 bedrooms have nice sizes, high efficiency construction and building orientation, 2 car spaces per apartment, and many more.... all you can ask to have.

19. 2020-08-07
    price $265,000 655-char remark

    Show marketing remark (655 chars)

    If you are looking for a great location, comfort, and nice design you can have it at PalmaSola Apartments. This building has 4 apartments, 2 3 bed/2 bath and 2 with 2 bedrooms/2 full bathrooms, and is located in the middle of all cities (McAllen, Mission, Palm Hurst, and Edinburg) The location is ideal if you need to go to several cities everyday. They feature a nicely custom kitchen with wood cabinets, fridge, stove, washer and dryer; nice living/dining room to share with friends or family; the 2 bedrooms have nice sizes, high efficiency construction and building orientation, 2 car spaces per apartment, and many more.... all you can ask to have.

20. 2020-05-19
    price $265,000 655-char remark

    Show marketing remark (655 chars)

    If you are looking for a great location, comfort, and nice design you can have it at PalmaSola Apartments. This building has 4 apartments, 2 3 bed/2 bath and 2 with 2 bedrooms/2 full bathrooms, and is located in the middle of all cities (McAllen, Mission, Palm Hurst, and Edinburg) The location is ideal if you need to go to several cities everyday. They feature a nicely custom kitchen with wood cabinets, fridge, stove, washer and dryer; nice living/dining room to share with friends or family; the 2 bedrooms have nice sizes, high efficiency construction and building orientation, 2 car spaces per apartment, and many more.... all you can ask to have.

21. 2020-05-19
    price $270,000 655-char remark

    Show marketing remark (655 chars)

    If you are looking for a great location, comfort, and nice design you can have it at PalmaSola Apartments. This building has 4 apartments, 2 3 bed/2 bath and 2 with 2 bedrooms/2 full bathrooms, and is located in the middle of all cities (McAllen, Mission, Palm Hurst, and Edinburg) The location is ideal if you need to go to several cities everyday. They feature a nicely custom kitchen with wood cabinets, fridge, stove, washer and dryer; nice living/dining room to share with friends or family; the 2 bedrooms have nice sizes, high efficiency construction and building orientation, 2 car spaces per apartment, and many more.... all you can ask to have.

22. 2020-03-11
    listed $250,000 Active 655-char remark

    Show marketing remark (655 chars)

    If you are looking for a great location, comfort, and nice design you can have it at PalmaSola Apartments. This building has 4 apartments, 2 3 bed/2 bath and 2 with 2 bedrooms/2 full bathrooms, and is located in the middle of all cities (McAllen, Mission, Palm Hurst, and Edinburg) The location is ideal if you need to go to several cities everyday. They feature a nicely custom kitchen with wood cabinets, fridge, stove, washer and dryer; nice living/dining room to share with friends or family; the 2 bedrooms have nice sizes, high efficiency construction and building orientation, 2 car spaces per apartment, and many more.... all you can ask to have.

23. 2020-02-06
    historical Expired
24. 2019-02-06
    listed $270,000 Active

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 22 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: $57,156
• − Mortgage interest: −$23,471
• − Property taxes: −$6,285
• − Insurance: −$2,095
• − Repairs & maintenance: −$4,572
• − Management: −$4,572
• − Depreciation: −$12,189
• Taxable income: $3,971
• Est. tax owed @ 24.0%: −$953
• After-tax cash flow: $9,453/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

• 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

+55.2% since first listed

10 events — show timeline

• 2026-03-19 Listed $419,000 MCALLENMLS
• 2020-10-21 Price Changed $253,600 MCALLENMLS
• 2020-10-19 Sold (MLS) — MCALLENMLS
• 2020-08-07 Pending — MCALLENMLS
• 2020-08-07 Price Changed $265,000 MCALLENMLS
• 2020-05-19 Price Changed $265,000 MCALLENMLS
• 2020-05-19 Price Changed $270,000 MCALLENMLS
• 2020-03-11 Listed $250,000 MCALLENMLS
• 2020-02-06 Delisted — MCALLENMLS
• 2019-02-06 Listed $270,000 MCALLENMLS