510 Colorado NONE · Abilene, TX 79601

$489,990

6 bd · 4.0 ba · 2,644 sqft · MultiFamily · 1 Days on market

Built 2026 Excellent condition 7,841 sqft lot

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Why this score? — see what drove the C+ 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 +23.1/30.0
• ARV discount +7.5/15.0
• DSCR +7.4/10.0
• 1% rule +6.0/10.0
• Rent growth +5.0/5.0
• Condition / age +5.0/5.0
• Livability +3.8/5.0
• Schools +2.8/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 2 units. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Welcome to this stunning brand-new duplex, thoughtfully designed with modern style, quality craftsmanship, and everyday comfort in mind. Featuring 3 spacious bedrooms, 2 full bathrooms, and a 2-car garage, this home offers an open-concept floor plan that seamlessly connects the living, dining, and kitchen areas—perfect for entertaining or relaxing with family. Enjoy beautiful finishes, abundant natural light, and the excitement of being the very first owner of this never-lived-in home. Every detail has been carefully selected to create a fresh, inviting atmosphere that is both functional and elegant. Ideally located less than 10 minutes from the Stargate development and just minutes f

Key facts

• 7,841 sq ft lot
• 2 garage spots
• Built 2026

Property features AI

Finance

• Other: Two total units in one building
• Financial info: Gross annual income reported; Gross annual expenses reported; Net operating income reported; Capitalization rate reported; Treated as clear loan type
• HOA & community: No association

Exterior

• Parking: Enclosed garage with garage door opener; Attached 2-car garage; 4 parking spaces total
• Utilities: City water; City sewer; Co-op electric
• Home design: Duplex residential income property; One level; New construction (2026) — incomplete
• Construction: Brick construction; Composition roof; Slab foundation
• Exterior features: Municipal utility district; City water; City sewer; Co-op electric

Interior

• Kitchen: Dishwasher; Disposal; Electric range; Microwave
• Bedrooms: 6 bedrooms
• Flooring: Vinyl flooring
• Bathrooms: 4 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Cable TV available; Granite counters; High-speed internet available; Kitchen island; Open floorplan; Pantry; Walk-in closet(s)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $490k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $875 ($11k/yr) — positive. Per door: $438/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $490k).
• Cap rate 8.4% vs local median 6.7% in Abilene — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 75/100 on livability (#142 in TX, #4,037 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, crime D, commute F.
• Abilene ISD (urban): math 32% / reading 34% proficiency, ranked #575 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+43.4%/yr); 195 active listings in the ZIP; 508 units permitted in Taylor County in 2024 (0 in 5+ unit buildings).
• At $5,394/mo this rent would consume 121% of the median local household income ($54k/yr) (locally 1240% 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.
• Taylor County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $137k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $489,990

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is D 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?
6. 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.
7. 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.
8. 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: 1.10% ✓
• Cap rate: 8.44%
• Cash-on-cash: 7.65%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 0.9%
• Equity multiple: 1.04×
• Total profit: $4,920
• Equity at exit: $73,059

10-year hold

• IRR: 15.0%
• Equity multiple: 2.50×
• Total profit: $206,122
• Equity at exit: $42,365

Cash invested: $137,197 (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 79601

• Home prices YoY: -22.8%
• Rents YoY: 43.4%
• Active inventory: 195
• Price-to-rent: 15.1×

Monthly cashflow live

• Estimated rent: $5,394 medium
• Mortgage (P&I): −$2,570
• Tax est. 1.5%: −$612 /mo · $7,350/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,133
• Net cashflow: $875

Break-even live

Break-even rent $4,286

Max offer price $489,990

Occupancy floor 79%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$5,394
Total (2 units)			$5,394

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: $122,498
• Closing costs: $14,700
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 693-char remark
2. 2026-06-18
   listed $489,990 Pending 1 DOM

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥104°F today · 25 d/yr by 30 yrs out
• 💨 Wind 4/10 Moderate 19% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $64,728
• − Mortgage interest: −$27,447
• − Property taxes: −$7,350
• − Insurance: −$2,450
• − Repairs & maintenance: −$5,178
• − Management: −$5,178
• − Depreciation: −$14,254
• Taxable income: $2,870
• Est. tax owed @ 24.0%: −$689
• After-tax cash flow: $9,812/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 duplex is in excellent condition with modern finishes and a fresh, inviting atmosphere. It is move-in ready and offers a great opportunity for investors looking to capitalize on the current market.

Value-add opportunities

• Both Paint interior walls and trim — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Install new flooring in bathrooms — New flooring can improve the home's appearance and functionality.
• Both Add landscaping around the home — Landscaping can enhance the home's curb appeal and add value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls and trim — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Install new flooring in bathrooms — New flooring can improve the home's appearance and functionality. ↑
• Both Add landscaping around the home — Landscaping can enhance the home's curb appeal and add value to the property. ↑

ⓘ 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: Abilene ISD
• NCES district ID: 4807440
• Math proficiency: 32% ▼ -11.00%
• Reading proficiency: 34% ▼ -5.00%
• Median HH income: $39,782
• Composite: 27.71/100
• National rank: #6909
• State rank: #575 of 826 in TX

Livability — Abilene

• Score: 75/100
• State rank: #142
• US rank: #4037

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Abilene, TX
• County: Taylor County · 136,672 people
• City population: 136,672
• Metro: Abilene, TX
• Population (ZIP): 28,050
• Household income: $53,631
• Rent vs Own: 50.8% rent · 49.2% own
• Severe rent burden: 1240.0

Population outlook (Taylor County) Hauer SSP2

• Today (2025): 145,270 people
• By 2030: 150,050 · +3.3%
• By 2040: 159,417 · +9.7%
• By 2050: 168,883 · +16.3%
• By 2075: 194,436 · +33.8%
• By 2100: 203,163 · +39.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 55% Hispanic / Latino 25% Black 13% Two or more races 13% Asian 3%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 2% Lithuanian 2% Serbian 1%
• Foreign-born: 7% · Canada, Vietnam
• Languages at home: 81% English-only · Spanish 15% French/Haitian/Cajun 1% Vietnamese 1%

Political lean MEDSL · Taylor

• 2024 margin: Solid R (+49.8) · D 24.6% · R 74.4% · Other 1.0%
• 2008→2024 swing: -4.2pp toward R · 2008: -45.6pp · 2024: -49.8pp
• All cycles: 2024: R+49.8 2020: R+45.3 2016: R+51.1 2012: R+53.6 2008: R+45.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -63.17%
• Current HPI: 214.4372
• Rent YoY: ▲ 43.38%
• Metro: Abilene, 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

+18753.0% since first listed

3 events — show timeline

• 2026-06-18 Pending — NTREIS
• 2026-06-18 Listed $489,990 NTREIS
• 2026-05-29 Listed for Rent $2,599 NTREIS