2608 E Harrison Ave · Alton, TX 78573

$458,000

None bd · None ba · 4,263 sqft · MultiFamily · 41 Days on market

Built 2026 Excellent condition 9,740 sqft lot $21/mo HOA · 2% of rent

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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 +12.9/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• 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

Don't miss this great opportunity for investment. New construction Multi Family, located in the WESTWOOD VILLAS new subdivision in Alton, TX. This New Fourplex is located in a new growing area, great for long term investment. Open concept, modern finishes, decorative ceilings, with 2 units with 2 bedrooms/2 baths and 2 units with 3 bedrooms/ 2 baths. Each unit includes kitchen appliances. Great rental potential in a rapidly developing area, near schools and main roads. Low maintenance, beautiful concept and a turnkey conditions. Start making your portfolio. Photos includes 3 and 2 bedrooms apartments.

Key facts

• Rental potential
• Near schools
• Kitchen appliances

Tags

• NEW CONSTRUCTION
• MULTI FAMILY
• KITCHEN APPLIANCES
• RENTAL POTENTIAL
• NEAR SCHOOLS
• MAIN ROADS

Property features AI

Finance

• Other: Building area approximately 4,263 square feet
• HOA & community: Mandatory HOA (Westwood Villas HOA); HOA fee $250 annually; POA transfer fee $0; Community features include sidewalks; Community has 4 units

Exterior

• Parking: 8 total parking spaces; 8 covered spaces; 8-car carport; Other garage or carport configuration
• Security: Smoke detector(s)
• Utilities: City sewer; Public water; Internet access; Single water meter
• Home design: New construction; Property condition: New
• Construction: Stucco exterior; Composition shingle roof; Slab foundation; Built recently (new construction)
• Exterior features: Wood fencing; Professional landscaping; Sidewalks; Paved road access; Outbuilding (none)

Interior

• Kitchen: Microwave; Refrigerator; Electric stove/range (coil)
• Flooring: Tile
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Thermostat
• Interior features: Ceiling fans; Decorative / high ceilings; Microwave; Walk-in closets; Smoke detectors
• Laundry & utility: Laundry closet; Washer/dryer connection; Electric water heater

🏗️ New construction. The $458,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $517,004.

What this means for you Summary

Snapshot

• This is a 2×2bd/2ba + 2×3bd/2ba units multifamily listed at $458k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-34 ($-410/yr) — negative. Per door: $-9/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 $451k (1.6% below list).
• Recommended offer: $444k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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); 624 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).
• At $4,506/mo this rent would consume 98% 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 + $52k 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 $145k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$89k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($444k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 96% chance of damaging wind over 30y; major 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 $444,260 (3.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 0.87% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.28%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (median comp): $517,004
• List price: $458,000
• Delta: -11.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2508 E Harrison Ave	0.00mi	—/—	4,052 (-5%)	0mo	$469,000	$116	92
2513 E Israel Ave	0.02mi	—/—	4,319 (+1%)	9mo	$535,000	$124	90
2713 E Israel Ave	0.02mi	—/—	4,319 (+1%)	10mo	$534,900	$124	89
2705 E Israel Ave	0.02mi	—/—	4,032 (-5%)	10mo	$520,000	$129	82
2605 E Israel Ave	0.02mi	—/—	4,032 (-5%)	12mo	$535,000	$133	80
2812 E Israel Ave	0.05mi	—/—	4,032 (-5%)	12mo	$500,000	$124	79
1310 Harrison	0.36mi	12/8.0	4,200 (-2%)	16mo	$495,500	$118	68
1414 S Michigan St	0.44mi	—/—	4,190 (-2%)	12mo	$505,000	$121	66
1410 S Michigan St	0.56mi	—/—	4,010 (-6%)	0mo	$450,000	$112	64
1521 W St. Francis Ave	0.40mi	—/—	3,992 (-6%)	11mo	$489,000	$122	62
1406 S Michigan St	0.44mi	—/—	4,010 (-6%)	11mo	$465,000	$116	61
1406 S Michigan St	0.55mi	—/—	4,010 (-6%)	6mo	$465,000	$116	59

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: 23.9%
• Equity multiple: 2.91×
• Total profit: $276,999
• Equity at exit: $465,758

10-year hold

• IRR: 21.1%
• Equity multiple: 6.61×
• Total profit: $812,668
• Equity at exit: $1,004,425

Cash invested: $144,761 (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: 624
• Price-to-rent: 34.8×

Monthly cashflow live

• Estimated rent: $4,506 high
• Mortgage (P&I): −$2,711
• Tax est. 1.5%: −$646 /mo · $7,755/yr
• Insurance: −$215
• HOA: −$21
• Vacancy / Maint / Mgmt: −$946
• Net cashflow: $-34

Break-even live

Break-even rent $4,549

Max offer price $512,061

Occupancy floor 96%

Sensitivity live

Price	-10% $323	-5% $144	+0% $-34	+5% $-213	+10% $-391
Rent	-10% $-390	-5% $-212	+0% $-34	+5% $144	+10% $322
Rate	-1.0pp $226	-0.5pp $97	base $-34	+0.5pp $-168	+1.0pp $-304

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$2,192
▸ 2× units	3	2	$2,314
Total (4 units)			$4,506

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: $129,251
• Closing costs: $15,510
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1404 W Harrison Ave Unit 3 Alton, TX	3.0	2.0	4320	$1,100	$0.25	44d	1	0.33mi
825 S Michigan St Mission, TX	2.0	1.5	4144	$685	$0.17	24d	1	0.46mi
810 N Missouri St Unit 2 Alton, TX	2.0	2.0	3960	$950	$0.24	44d	1	0.88mi
913 W Kohala Ave #3 Mission, TX	2.0	2.0	4354	$975	$0.22	15d	1	1.18mi
1008 W Kohala Ave Unit 4 Alton, TX	2.0	2.0	3596	$1,100	$0.31	24d	1	1.20mi
312 W Campeche Ave Unit 3 Alton, TX	2.0	2.0	4050	$1,000	$0.25	24d	1	1.22mi
812 N Kentucky St Unit 2 Alton, TX	3.0	2.0	4032	$1,050	$0.26	44d	1	1.29mi
1101 W Sunset Valley St Unit 3 Alton, TX	2.0	2.0	4032	$1,000	$0.25	24d	1	1.30mi
116 W Campeche Ave Mission, TX	2.0	2.0	4050	$1,100	$0.27	24d	1	1.47mi

HOA detail

• Monthly dues: $21 · $252/yr

Listing history 16 events

1. 2026-06-21
   days on market $458,000 Active 41 DOM
2. 2026-06-18
   days on market $458,000 Active 38 DOM
3. 2026-06-17
   days on market $458,000 Active 37 DOM
4. 2026-06-16
   days on market $458,000 Active 36 DOM
5. 2026-06-15
   days on market $458,000 Active 35 DOM
6. 2026-06-14
   days on market $458,000 Active 33 DOM
7. 2026-06-10
   days on market $458,000 Active 30 DOM
8. 2026-06-09
   days on market $458,000 Active 29 DOM
9. 2026-06-08
   days on market $458,000 Active 28 DOM
10. 2026-06-07
    days on market $458,000 Active 27 DOM
11. 2026-06-03
    days on market $458,000 Active 23 DOM
12. 2026-06-02
    days on market $458,000 Active 22 DOM
13. 2026-06-01
    days on market $458,000 Active 21 DOM
14. 2026-05-31
    days on market $458,000 Active 20 DOM
15. 2026-05-31
    days on market $458,000 Active 19 DOM
16. 2026-05-10
    listed $458,000 Active 611-char remark

ⓘ 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 6/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 96% 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: $54,072
• − Mortgage interest: −$28,960
• − Property taxes: −$7,755
• − Insurance: −$2,585
• − Repairs & maintenance: −$4,326
• − Management: −$4,326
• − HOA: −$252
• − Depreciation: −$15,040
• Taxable loss: −$9,172
• Est. tax savings @ 24.0%: +$2,201
• After-tax cash flow: $1,791/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 · 13 photos

Excellent 95/100 None rehab

This fourplex is in excellent condition with modern finishes and low maintenance. It's located in a growing area with great rental potential.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Painting — Fresh paint can make the home more appealing
• Both Lighting — Improved lighting can make the home more inviting

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Painting — Fresh paint can make the home more appealing ↑
• Both Lighting — Improved lighting can make the home more inviting ↑

ⓘ 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: 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

1 event — show timeline

• 2026-05-10 Listed $458,000 MCALLENMLS