2805 E Harrison Ave · Alton, TX 78573

$469,000

None bd · None ba · 4,052 sqft · MultiFamily · 197 Days on market

Built 2025 Excellent condition 9,814 sqft lot $116/sqft · 9% below area Est $516k · 9% under $21/mo HOA · 2% of rent

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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 +20.4/30.0
• ARV discount +11.6/15.0
• Appreciation +10.0/10.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Condition / age +5.0/5.0
• Livability +2.9/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0

Multi-family units

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

Listing remarks MLS

Brand New Multi-Family! Exceptional investment opportunity in a desirable multi-family subdivision just minutes from top schools, shopping, and dining.These newly built fourplexes offer modern design, strong tenant appeal, and immediate cash flow.Each unit features a bright open-concept layout with elegant wood-look tile flooring, a contemporary kitchen with custom cabinetry, quartz countertops, and a spacious island providing ample storage and workspace.Bedrooms are generously sized with large closets, and the primary suites include a luxurious frameless glass shower and walk-in closet. Additional highlights include private fenced backyards for every unit, stainless steel appliances, in-unit washer and dryer, and covered carports. This is an outstanding opportunity for investors seeking a low- maintenance, high-demand rental asset in a rapidly growing area.Don’t miss your chance to own a premium multi-family property with long-term value and impressive rental potential.

Key facts

• Custom cabinetry
• Spacious island
• Quartz countertops

Tags

• MODERN DESIGN
• OPEN-CONCEPT LAYOUT
• CUSTOM CABINETRY
• QUARTZ COUNTERTOPS
• SPACIOUS ISLAND
• LARGE CLOSETS

What this means for you Summary

Snapshot

• This is a 4 × 3-bed/2-bath units multifamily listed at $469k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $609 ($7k/yr) — positive. Per door: $152/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $469k).
• Recommended offer: $413k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 3.3% 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.
• 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.
• Zoned schools: Raquel Cavazos El (math 20% / reading 21%, grade F, #3,515 of 4,322 statewide, top 82%, 554 students, 87% FRL); Alton Memorial J H (math 10% / reading 21%, grade F, #1,556 of 1,662 statewide, top 94%, 819 students, 91% FRL); Mission H S (math 18% / reading 28%, grade F, #1,348 of 1,632 statewide, top 83%, 2,218 students, 91% FRL).
• Market conditions: 763 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 73d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 82% 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).

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 + 3.0% 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 197 days — a 12% lower offer ($413k) 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→21/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 197 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.04% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.56%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

• ARV (median comp): $515,935
• List price: $469,000
• Delta: -9.10%
• 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
2612 E Harrison Ave	0.03mi	—/—	4,052 (0%)	1mo	$469,000	$116	98
2508 E Harrison Ave	0.03mi	—/—	4,052 (0%)	2mo	$469,000	$116	97
2705 E Israel Ave	0.05mi	—/—	4,032 (-0%)	11mo	$520,000	$129	88
2605 E Israel Ave	0.05mi	—/—	4,032 (-0%)	14mo	$535,000	$133	86
2812 E Israel Ave	0.08mi	—/—	4,032 (-0%)	14mo	$500,000	$124	84
2513 E Israel Ave	0.05mi	—/—	4,319 (+7%)	10mo	$535,000	$124	78
2713 E Israel Ave	0.05mi	—/—	4,319 (+7%)	11mo	$534,900	$124	78
1410 S Michigan St	0.58mi	—/—	4,010 (-1%)	2mo	$450,000	$112	70
1521 W St. Francis Ave	0.42mi	—/—	3,992 (-2%)	12mo	$489,000	$122	68
1406 S Michigan St	0.44mi	—/—	4,010 (-1%)	12mo	$465,000	$116	68
1406 S Michigan St	0.57mi	—/—	4,010 (-1%)	8mo	$465,000	$116	65
1414 S Michigan St	0.44mi	—/—	4,190 (+3%)	14mo	$505,000	$121	62

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 28.3%
• Equity multiple: 3.24×
• Total profit: $294,294
• Equity at exit: $422,512

10-year hold

• IRR: 24.7%
• Equity multiple: 7.37×
• Total profit: $836,327
• 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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 13 active · 1 under contract
• Months of supply: 26.0 mo (4%/mo absorbed)
• Median asking: $469,000 ($116/sqft)
• Median days on market: 189 d
• This list price: 38% of active listings are priced below it
• ARV vs active asking: +10.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 78573

• Home prices YoY: 8.0%
• Active inventory: 763
• Price-to-rent: 31.9×

Monthly cashflow live

• Estimated rent: $4,900 high
• Mortgage (P&I): −$2,459
• Tax est. 1.5%: −$586 /mo · $7,035/yr
• Insurance: −$195
• HOA: −$21
• Vacancy / Maint / Mgmt: −$1,029
• Net cashflow: $609

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	2	$4,900
Total (4 units)			$4,900

Break-even live

Break-even rent $4,129

Max offer price $469,000

Occupancy floor 83%

Sensitivity live

Price	-10% $933	-5% $771	+0% $609	+5% $447	+10% $285
Rent	-10% $222	-5% $415	+0% $609	+5% $802	+10% $996
Rate	-1.0pp $845	-0.5pp $728	base $609	+0.5pp $487	+1.0pp $364

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2816 W Harrison Ave Apt 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	72d	1	0.04mi
2708 W Harrison Ave Unit 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	72d	1	0.04mi
2612 W Harrison Ave Apt 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	93d	1	0.04mi
2904 W Harrison Ave Unit 4 Alton, TX	3.0	2.0	1118	$1,225	$1.10	15d	1	0.04mi
2704 W Harrison Ave Unit 4 Alton, TX	3.0	2.0	1118	$1,225	$1.10	15d	1	0.04mi
2504 W Harrison Ave Alton, TX	3.0	2.0	1118	$1,225	$1.10	15d	1	0.04mi
2704 W Harrison Ave Unit 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	72d	1	0.04mi
2712 W Harrison Ave Unit 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	93d	1	0.04mi
2712 W Harrison Ave Unit 4 Alton, TX	3.0	2.0	1118	$1,225	$1.10	93d	1	0.04mi
2504 W Harrison Ave Unit 4 Alton, TX	3.0	2.0	1118	$700	$0.63	15d	1	0.04mi
2504 W Harrison Ave Unit 1 Alton, TX	2.0	2.0	908	$1,075	$1.18	15d	1	0.04mi
2812 W Harrison Ave Unit 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	93d	1	0.04mi
2816 W Harrison Ave Unit 1 Alton, TX	2.0	2.0	908	$1,075	$1.18	93d	1	0.04mi
2904 W Harrison Ave Apt 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	93d	1	0.04mi
2904 W Harrison Ave Apt 2 Alton, TX	3.0	2.0	1118	$1,225	$1.10	93d	1	0.04mi
2704 W Harrison Ave Unit 2 Alton, TX	3.0	2.0	1119	$1,225	$1.09	72d	1	0.04mi
2808 W Harrison Ave Unit 1 Alton, TX	2.0	2.0	908	$1,075	$1.18	93d	1	0.04mi
2708 W Harrison Ave Unit 4 Alton, TX	3.0	2.0	1118	$1,225	$1.10	72d	1	0.04mi
2805 W Harrison Ave Apt 1 Alton, TX	2.0	2.0	908	$1,075	$1.18	93d	1	0.04mi
2809 W Harrison Ave Apt 3 Alton, TX	2.0	2.0	908	$1,075	$1.18	72d	1	0.04mi
2809 W Harrison Ave Unit 2 Alton, TX	3.0	2.0	1118	$1,225	$1.10	93d	1	0.04mi
2817 W Harrison Ave Unit 3 ALTON TX Alton, TX	2.0	2.0	908	$1,075	$1.18	93d	1	0.04mi
2813 W Harrison Ave Apt 2 Alton, TX	3.0	2.0	1118	$1,225	$1.10	93d	1	0.04mi
2813 W Harrison Ave Apt 2 Alton, TX	3.0	2.0	1118	$1,225	$1.10	72d	1	0.04mi
2813 W Harrison Ave Apt 1 Alton, TX	2.0	2.0	908	$1,075	$1.18	93d	1	0.04mi
2809 W Harrison Ave Apt 1 Alton, TX	2.0	2.0	908	$1,075	$1.18	93d	1	0.04mi
2805 W Harrison Ave Apt 2 Alton, TX	3.0	2.0	1118	$1,225	$1.10	93d	1	0.04mi
2805 W Harrison Ave Apt 2 Alton, TX	3.0	2.0	1118	$1,225	$1.10	72d	1	0.04mi
1428 W Harrison Ave Unit 3 Alton, TX	2.0	2.0	1000	$975	$0.97	72d	1	0.20mi
1421 W Harrison Ave Alton, TX	3.0	2.0	1008	$750	$0.74	68d	1	0.23mi
1421 W Harrison Ave Alton, TX	3.0	2.0	1008	$925	$0.92	93d	1	0.23mi
1421 W Harrison Ave Unit 6 Alton, TX	3.0	2.0	1008	$750	$0.74	72d	1	0.23mi
1412 W Harrison Ave Unit 3 Alton, TX	3.0	2.5	1200	$975	$0.81	70d	1	0.25mi
818 S Missouri St Unit 2 Alton, TX	2.0	2.0	869	$960	$1.10	93d	1	0.28mi
810 S Missouri St Apt 2 Alton, TX	2.0	2.0	990	$925	$0.93	70d	1	0.29mi
1326 W Harrison Ave Unit 1 Alton, TX	2.0	2.0	1100	$1,075	$0.98	15d	1	0.29mi
825 S Mississippi St Unit C Alton, TX	2.0	2.0	912	$800	$0.88	68d	1	0.30mi
1327 W Garfield Ave Unit 2 Alton, TX	2.0	2.0	900	$900	$1.00	15d	1	0.32mi
1327 W Garfield Ave Unit 3 Alton, TX	2.0	2.0	995	$925	$0.93	72d	1	0.32mi
1310 W Harrison Ave Unit 2 Alton, TX	3.0	2.0	1050	$1,325	$1.26	93d	1	0.33mi

Listing history 23 events

1. 2026-06-30
   days on market $469,000 Active 197 DOM
2. 2026-06-29
   days on market $469,000 Active 196 DOM
3. 2026-06-28
   days on market $469,000 Active 195 DOM
4. 2026-06-28
   days on market $469,000 Active 194 DOM
5. 2026-06-27
   days on market $469,000 Active 193 DOM
6. 2026-06-25
   days on market $469,000 Active 191 DOM
7. 2026-06-23
   days on market $469,000 Active 189 DOM
8. 2026-06-21
   days on market $469,000 Active 188 DOM
9. 2026-06-18
   days on market $469,000 Active 185 DOM
10. 2026-06-17
    days on market $469,000 Active 184 DOM
11. 2026-06-16
    days on market $469,000 Active 183 DOM
12. 2026-06-15
    days on market $469,000 Active 182 DOM
13. 2026-06-14
    days on market $469,000 Active 180 DOM
14. 2026-06-10
    days on market $469,000 Active 177 DOM
15. 2026-06-09
    days on market $469,000 Active 176 DOM
16. 2026-06-08
    days on market $469,000 Active 175 DOM
17. 2026-06-07
    days on market $469,000 Active 174 DOM
18. 2026-06-03
    days on market $469,000 Active 170 DOM
19. 2026-06-02
    days on market $469,000 Active 169 DOM
20. 2026-06-01
    days on market $469,000 Active 168 DOM
21. 2026-05-31
    days on market $469,000 Active 167 DOM
22. 2026-05-31
    days on market $469,000 Active 166 DOM
23. 2025-12-15
    listed $469,000 Active 991-char remark

    Show marketing remark (991 chars)

    Brand New Multi-Family! Exceptional investment opportunity in a desirable multi-family subdivision just minutes from top schools, shopping, and dining.These newly built fourplexes offer modern design, strong tenant appeal, and immediate cash flow.Each unit features a bright open-concept layout with elegant wood-look tile flooring, a contemporary kitchen with custom cabinetry, quartz countertops, and a spacious island providing ample storage and workspace.Bedrooms are generously sized with large closets, and the primary suites include a luxurious frameless glass shower and walk-in closet. Additional highlights include private fenced backyards for every unit, stainless steel appliances, in-unit washer and dryer, and covered carports. This is an outstanding opportunity for investors seeking a low- maintenance, high-demand rental asset in a rapidly growing area.Don’t miss your chance to own a premium multi-family property with long-term value and impressive rental potential.

ⓘ 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 · 21 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: $58,800
• − Mortgage interest: −$26,271
• − Property taxes: −$7,035
• − Insurance: −$2,345
• − Repairs & maintenance: −$4,704
• − Management: −$4,704
• − HOA: −$252
• − Depreciation: −$13,644
• Taxable loss: −$155
• Est. tax savings @ 24.0%: +$37
• After-tax cash flow: $7,343/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 · 7 photos

Excellent 100/100 None rehab

This newly built fourplex is in excellent condition with modern design and immediate cash flow potential. It offers a great investment opportunity in a desirable multi-family subdivision.

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances the home's aesthetic and appeal to potential buyers and renters. ↑
• Both Interior updates such as paint and minor fixtures — Maintains the home's modern aesthetic and enhances its value. ↑
• Both Landscaping and curb appeal improvements — Enhances the home's aesthetic and appeal to potential buyers and renters. ↑

F Composite school gradezoned avg 27/100

Zoned Schools

Elementary Raquel Cavazos El F TX #3,515/4,322 Nat'l #33,158/41,679 Middle Alton Memorial J H F TX #1,556/1,662 Nat'l #12,557/14,009 High Mission Collegiate H S F TX #652/1,632 Nat'l #6,890/17,239

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

D Composite livability gradescore 58/100

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 · 955,232 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: 6% of renters

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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%

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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%

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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: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

• 2025-12-15 Listed $469,000 MCALLENMLS