503 Adams Ave · Alton, TX 78573

$199,000

None bd · None ba · 2,100 sqft · MultiFamily · 482 Days on market

Built 2006 Fair condition 5,501 sqft lot $95/sqft · at area comps Est $200k · at est. ↓ 3% since listing

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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 +26.9/30.0
• Appreciation +10.0/10.0
• DSCR +9.3/10.0
• ARV discount +7.7/15.0
• 1% rule +7.3/10.0
• Rent growth +3.1/5.0
• Livability +2.9/5.0
• Condition / age +2.2/5.0
• Schools +1.7/10.0

Multi-family units

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

Listing remarks MLS

Discover a fantastic investment opportunity with this income-producing 3-bedroom, 2-bathroom duplex at 503 Adams Ave, Alton, TX. Located in a prime area, this property features two fully leased units, ensuring immediate cash flow for investors. Situated in a growing community, it offers easy access to schools, shopping, and major roads, making it highly desirable for tenants. Whether you're a seasoned investor or just starting out, this turnkey property provides steady rental income and long-term potential. Don’t miss out on this ready-to-go investment

Key facts

• Turnkey property
• Fully leased units
• 5,501 sq ft lot

Tags

• INCOME PRODUCING DUPLEX
• FULLY LEASED UNITS
• EASY ACCESS TO SCHOOLS
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO MAJOR ROADS
• TURNKEY PROPERTY

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2-bath units multifamily listed at $199k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $554 ($7k/yr) — positive. Per door: $277/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $175k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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; 7,378 units permitted in Hidalgo County in 2024 (641 in 5+ unit buildings).
• At $2,442/mo this rent would consume 53% 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 $21k of equity ($1k loan paydown + $20k 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 $56k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 482 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 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: 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 $175,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 482 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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: 1.23% ✓
• Cap rate: 9.63%
• Cash-on-cash: 11.93%
• DSCR: 1.53
• GRM: 6.8

CMA / ARV

• ARV (median comp): $199,730
• List price: $199,000
• Delta: -0.37%
• Verdict: FAIR
• Comps: 4 within 2.0 mi

Projected returns pro-forma

10.0% appreciation · 2.45% rent growth · sell at horizon

5-year hold

• IRR: 32.8%
• Equity multiple: 3.55×
• Total profit: $142,354
• Equity at exit: $179,275

10-year hold

• IRR: 28.1%
• Equity multiple: 7.98×
• Total profit: $388,871
• Equity at exit: $386,613

Cash invested: $55,720 (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: 13.6×

Monthly cashflow live

• Estimated rent: $2,442 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $554

Break-even live

Break-even rent $1,741

Max offer price $199,000

Occupancy floor 72%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,442
Total (2 units)			$2,442

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $199,000 Active 482 DOM
2. 2026-06-17
   days on market $199,000 Active 481 DOM
3. 2026-06-16
   days on market $199,000 Active 480 DOM
4. 2026-06-15
   days on market $199,000 Active 479 DOM
5. 2026-06-14
   days on market $199,000 Active 477 DOM
6. 2026-06-10
   days on market $199,000 Active 474 DOM
7. 2026-06-09
   days on market $199,000 Active 473 DOM
8. 2026-06-08
   days on market $199,000 Active 472 DOM
9. 2026-06-07
   days on market $199,000 Active 471 DOM
10. 2026-06-03
    days on market $199,000 Active 467 DOM
11. 2026-06-02
    days on market $199,000 Active 466 DOM
12. 2026-06-01
    days on market $199,000 Active 465 DOM
13. 2026-05-31
    days on market $199,000 Active 464 DOM
14. 2026-05-31
    days on market $199,000 Active 463 DOM
15. 2025-08-20
    status Active 564-char remark

    Show marketing remark (564 chars)

    Discover a fantastic investment opportunity with this income-producing 3-bedroom, 2-bathroom duplex at 503 Adams Ave, Alton, TX. Located in a prime area, this property features two fully leased units, ensuring immediate cash flow for investors. Situated in a growing community, it offers easy access to schools, shopping, and major roads, making it highly desirable for tenants. Whether you're a seasoned investor or just starting out, this turnkey property provides steady rental income and long-term potential. Don’t miss out on this ready-to-go investment

16. 2025-05-28
    price $199,000 564-char remark

    Show marketing remark (564 chars)

    Discover a fantastic investment opportunity with this income-producing 3-bedroom, 2-bathroom duplex at 503 Adams Ave, Alton, TX. Located in a prime area, this property features two fully leased units, ensuring immediate cash flow for investors. Situated in a growing community, it offers easy access to schools, shopping, and major roads, making it highly desirable for tenants. Whether you're a seasoned investor or just starting out, this turnkey property provides steady rental income and long-term potential. Don’t miss out on this ready-to-go investment

17. 2025-02-15
    listed $205,000 Active 564-char remark

    Show marketing remark (564 chars)

    Discover a fantastic investment opportunity with this income-producing 3-bedroom, 2-bathroom duplex at 503 Adams Ave, Alton, TX. Located in a prime area, this property features two fully leased units, ensuring immediate cash flow for investors. Situated in a growing community, it offers easy access to schools, shopping, and major roads, making it highly desirable for tenants. Whether you're a seasoned investor or just starting out, this turnkey property provides steady rental income and long-term potential. Don’t miss out on this ready-to-go investment

ⓘ 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 ≥112°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: $29,304
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$2,344
• − Management: −$2,344
• − Depreciation: −$5,789
• Taxable income: $3,699
• Est. tax owed @ 24.0%: −$888
• After-tax cash flow: $5,759/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 · 8 photos

Fair 45/100 Moderate rehab

This 2-unit property offers immediate cash flow with fully leased units. It requires moderate renovations to enhance its curb appeal and interior aesthetics, increasing its resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and cluttered
• Minor kitchen countertops — cluttered and disorganized
• Minor exterior siding — some discoloration

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both replace countertops — improves functionality and aesthetics
• Both repair exterior siding — enhances curb appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and cluttered	Moderate	$3,000–15,000
kitchen countertops · cluttered and disorganized	Minor	$500–3,000
exterior siding · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$4,000–21,000

Value-add ROI direction

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both replace countertops — improves functionality and aesthetics ↑
• Both repair exterior siding — enhances curb appeal and structural integrity ↑

ⓘ 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

-2.9% since first listed

3 events — show timeline

• 2025-08-20 Relisted — MCALLENMLS
• 2025-05-28 Price Changed $199,000 MCALLENMLS
• 2025-02-15 Listed $205,000 MCALLENMLS