1408 S Yankton St Lot 26 · Alton, TX 78573

$469,000

None bd · None ba · 4,054 sqft · MultiFamily · 539 Days on market

Built 2023 Good condition 10,660 sqft lot $116/sqft · 11% below area Est $524k · 11% under ↓ 11% since listing

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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 +17.9/30.0
• ARV discount +12.2/15.0
• Appreciation +10.0/10.0
• DSCR +5.6/10.0
• 1% rule +4.8/10.0
• Condition / age +4.0/5.0
• Schools +3.4/10.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0

Multi-family units

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

Listing remarks MLS

FOURPLEX COMPLETED 2023! FULLY LEASED. Located in new gated multi-family subdivision in Alton, TX, Sharyland ISD. Prime Location close to schools, restaurants and shopping! Modern open concept floorplan with wood like tile throughout. Kitchen with custom cabinets with modern quartz and an island with lots of cabinet space. Spacious bedrooms with large closets. Large master bedroom with large bathroom with frameless glass shower and large closet. All units have their own private fenced backyard. Stainless steel appliances included as well as washer and dryer. Carports Included. Great Investment Opportunity!FULLY LEASED!

Key facts

• 0.24 acre lot
• Built 2023
• Listed 539 days

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $469k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive. Per door: $98/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 $460k (1.9% below list).
• Recommended offer: $413k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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.
• 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.
• 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 $4,601/mo this rent would consume 100% 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 $50k of equity ($3k loan paydown + $47k 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 $131k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$81k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 539 days — a 12% lower offer ($413k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $56k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 6→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $412,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 539 days. Have you received any prior offers? Is the seller open to a 12% 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: 0.98% ✗
• Cap rate: 7.30%
• Cash-on-cash: 3.60%
• DSCR: 1.16
• GRM: 8.5

CMA / ARV

• ARV (median comp): $524,080
• List price: $469,000
• Delta: -10.51%
• 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
1300 S Yankton St	0.08mi	—/—	4,054 (0%)	7mo	$478,000	$118	91
1221 S Yankton	0.10mi	—/—	4,029 (-1%)	8mo	$479,000	$119	88
1220 S Xanthia St	0.11mi	—/—	4,029 (-1%)	8mo	$479,000	$119	87
1417 S Xanthia St	0.09mi	—/—	4,216 (+4%)	6mo	$489,000	$116	84
2904 E Israel Ave	0.47mi	—/—	4,168 (+3%)	4mo	$515,000	$124	70
2604 Israel Ave	0.59mi	—/—	4,032 (-0%)	2mo	$499,000	$124	70
2709 E Israel Ave	0.55mi	—/—	4,032 (-0%)	8mo	$515,000	$128	66
2612 E Israel Ave	0.57mi	—/—	4,168 (+3%)	4mo	$515,000	$124	66
5905 Nightingale Ave	0.46mi	—/—	4,276 (+6%)	10mo	$529,900	$124	61
5600 Sandpiper Ave	0.72mi	—/—	4,166 (+3%)	3mo	$475,000	$114	60
5609 Sandpiper Ave	0.68mi	—/—	4,312 (+6%)	15mo	$530,000	$123	45
2611 E Eisenhower Ave	0.72mi	—/—	3,600 (-11%)	4mo	$390,000	$108	45

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: 26.7%
• Equity multiple: 3.12×
• Total profit: $278,038
• Equity at exit: $422,512

10-year hold

• IRR: 23.2%
• Equity multiple: 7.05×
• Total profit: $794,173
• Equity at exit: $911,164

Cash invested: $131,320 (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: 34.0×

Monthly cashflow live

• Estimated rent: $4,601 high
• Mortgage (P&I): −$2,459
• Tax est. 1.5%: −$586 /mo · $7,035/yr
• Insurance: −$195
• HOA: −$0
• Vacancy / Maint / Mgmt: −$966
• Net cashflow: $394

Break-even live

Break-even rent $4,103

Max offer price $469,000

Occupancy floor 86%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,600
Total (4 units)			$4,601

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: $117,250
• Closing costs: $14,070
• 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	0.50mi
1100 S Stewart Blvd Alton, TX	2.0	1.0	3991	$959	$0.24	43d	1	0.55mi
5704 Puffin Ave Unit 4 Palmhurst, TX	2.0	2.0	4372	$1,050	$0.24	43d	1	0.57mi
2612 E Israel Ave Unit A Alton, TX	2.0	2.0	4172	$1,200	$0.29	43d	1	0.60mi
2703 E Garfield Ave Unit A Alton, TX	3.0	2.0	4088	$950	$0.23	23d	1	0.70mi
2601 E Garfield Ave Unit 2 Alton, TX	2.0	2.0	4292	$975	$0.23	43d	1	0.73mi

Listing history 20 events

1. 2026-06-18
   days on market $469,000 Active 539 DOM
2. 2026-06-17
   days on market $469,000 Active 538 DOM
3. 2026-06-16
   days on market $469,000 Active 537 DOM
4. 2026-06-15
   days on market $469,000 Active 536 DOM
5. 2026-06-14
   days on market $469,000 Active 534 DOM
6. 2026-06-10
   days on market $469,000 Active 531 DOM
7. 2026-06-09
   days on market $469,000 Active 530 DOM
8. 2026-06-08
   days on market $469,000 Active 529 DOM
9. 2026-06-07
   days on market $469,000 Active 528 DOM
10. 2026-06-03
    days on market $469,000 Active 524 DOM
11. 2026-06-02
    days on market $469,000 Active 523 DOM
12. 2026-06-01
    days on market $469,000 Active 522 DOM
13. 2026-05-31
    days on market $469,000 Active 521 DOM
14. 2026-05-31
    days on market $469,000 Active 520 DOM
15. 2025-12-17
    price $469,000 626-char remark

    Show marketing remark (626 chars)

    FOURPLEX COMPLETED 2023! FULLY LEASED. Located in new gated multi-family subdivision in Alton, TX, Sharyland ISD. Prime Location close to schools, restaurants and shopping! Modern open concept floorplan with wood like tile throughout. Kitchen with custom cabinets with modern quartz and an island with lots of cabinet space. Spacious bedrooms with large closets. Large master bedroom with large bathroom with frameless glass shower and large closet. All units have their own private fenced backyard. Stainless steel appliances included as well as washer and dryer. Carports Included. Great Investment Opportunity!FULLY LEASED!

16. 2025-11-05
    price $478,000 626-char remark

    Show marketing remark (626 chars)

    FOURPLEX COMPLETED 2023! FULLY LEASED. Located in new gated multi-family subdivision in Alton, TX, Sharyland ISD. Prime Location close to schools, restaurants and shopping! Modern open concept floorplan with wood like tile throughout. Kitchen with custom cabinets with modern quartz and an island with lots of cabinet space. Spacious bedrooms with large closets. Large master bedroom with large bathroom with frameless glass shower and large closet. All units have their own private fenced backyard. Stainless steel appliances included as well as washer and dryer. Carports Included. Great Investment Opportunity!FULLY LEASED!

17. 2025-05-14
    status Active 626-char remark

    Show marketing remark (626 chars)

    FOURPLEX COMPLETED 2023! FULLY LEASED. Located in new gated multi-family subdivision in Alton, TX, Sharyland ISD. Prime Location close to schools, restaurants and shopping! Modern open concept floorplan with wood like tile throughout. Kitchen with custom cabinets with modern quartz and an island with lots of cabinet space. Spacious bedrooms with large closets. Large master bedroom with large bathroom with frameless glass shower and large closet. All units have their own private fenced backyard. Stainless steel appliances included as well as washer and dryer. Carports Included. Great Investment Opportunity!FULLY LEASED!

18. 2025-05-14
    price $490,000 626-char remark

    Show marketing remark (626 chars)

    FOURPLEX COMPLETED 2023! FULLY LEASED. Located in new gated multi-family subdivision in Alton, TX, Sharyland ISD. Prime Location close to schools, restaurants and shopping! Modern open concept floorplan with wood like tile throughout. Kitchen with custom cabinets with modern quartz and an island with lots of cabinet space. Spacious bedrooms with large closets. Large master bedroom with large bathroom with frameless glass shower and large closet. All units have their own private fenced backyard. Stainless steel appliances included as well as washer and dryer. Carports Included. Great Investment Opportunity!FULLY LEASED!

19. 2024-10-01
    historical 626-char remark

    Show marketing remark (626 chars)

    FOURPLEX COMPLETED 2023! FULLY LEASED. Located in new gated multi-family subdivision in Alton, TX, Sharyland ISD. Prime Location close to schools, restaurants and shopping! Modern open concept floorplan with wood like tile throughout. Kitchen with custom cabinets with modern quartz and an island with lots of cabinet space. Spacious bedrooms with large closets. Large master bedroom with large bathroom with frameless glass shower and large closet. All units have their own private fenced backyard. Stainless steel appliances included as well as washer and dryer. Carports Included. Great Investment Opportunity!FULLY LEASED!

20. 2024-05-15
    listed $525,000 Active 626-char remark

    Show marketing remark (626 chars)

    FOURPLEX COMPLETED 2023! FULLY LEASED. Located in new gated multi-family subdivision in Alton, TX, Sharyland ISD. Prime Location close to schools, restaurants and shopping! Modern open concept floorplan with wood like tile throughout. Kitchen with custom cabinets with modern quartz and an island with lots of cabinet space. Spacious bedrooms with large closets. Large master bedroom with large bathroom with frameless glass shower and large closet. All units have their own private fenced backyard. Stainless steel appliances included as well as washer and dryer. Carports Included. Great Investment Opportunity!FULLY LEASED!

ⓘ 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 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 6 d/yr ≥111°F today · 17 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: $55,212
• − Mortgage interest: −$26,271
• − Property taxes: −$7,035
• − Insurance: −$2,345
• − Repairs & maintenance: −$4,417
• − Management: −$4,417
• − Depreciation: −$13,644
• Taxable loss: −$2,917
• Est. tax savings @ 24.0%: +$700
• After-tax cash flow: $5,424/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 · 6 photos

Good 80/100 None rehab

This fourplex is fully leased and in excellent condition, with new construction and modern amenities. It offers a great investment opportunity with high rental potential.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the overall aesthetic and appeal of the property.
• Both Interior updates such as new paint and minor repairs — Improves the home's appearance and can attract more tenants or buyers.
• Both Exterior updates such as new fencing and landscaping — Enhances the property's curb appeal and can attract more tenants or buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances the overall aesthetic and appeal of the property. ↑
• Both Interior updates such as new paint and minor repairs — Improves the home's appearance and can attract more tenants or buyers. ↑
• Both Exterior updates such as new fencing and landscaping — Enhances the property's curb appeal and can attract more tenants or 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: 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

-10.7% since first listed

6 events — show timeline

• 2025-12-17 Price Changed $469,000 RGVMLS
• 2025-11-05 Price Changed $478,000 RGVMLS
• 2025-05-14 Relisted — RGVMLS
• 2025-05-14 Price Changed $490,000 RGVMLS
• 2024-10-01 Delisted — RGVMLS
• 2024-05-15 Listed $525,000 RGVMLS