6507 Texas St · Houston, TX 77011

$149,000

2 bd · 1.0 ba · 1,867 sqft · Townhouse public records · 11 Days on market

Built 1920 5,000 sqft lot Est $280k · 47% under

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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 +23.4/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• 1% rule +8.9/10.0
• DSCR +7.5/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0

Listing remarks

UNRESTRICTED MULTI-UNIT COMPOUND IN THE BOOMING EAST END! 6507 Texas St Is An incredible income-producing or live-work opportunity in the heart of the historic Second Ward! This completely unrestricted property features 3 distinct structures on one lot: one large main home and two separate, detached smaller homes. Surrounded by thriving commercial properties, this versatile asset offers endless high-value potential—perfect for a premium rental portfolio, an urban business headquarters, or a unique multi-generational estate. Enjoy seamless connectivity to I-45, I-10, and I-69/US-59, making any Houston commute effortless. Food enthusiasts will love being steps from the Navigation Espla

Key facts

• Historic second ward
• Multi-unit compound
• Built 1920

Tags

• MULTI-UNIT COMPOUND
• INCOME-PRODUCING OPPORTUNITY
• LIVE-WORK OPPORTUNITY
• HISTORIC SECOND WARD
• THREE DISTINCT STRUCTURES
• PREMIUM RENTAL PORTFOLIO

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 1920; Single-level entry (all main rooms on the first level)
• Construction: Wood siding exterior; Pillar/post/pier and slab foundation
• Exterior features: Lot approximately 5,000 square feet; Lot includes other/unspecified features; Composition roof

Interior

• Bedrooms: Primary bedroom on the first level (approx. 14 x 20); Bedroom on the first level (approx. 16 x 14); Bedroom on the first level (approx. 14 x 12); Bedroom on the first level (approx. 12 x 10); Bedroom on the first level (approx. 10 x 11)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Five total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $149k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Cap rate 8.5% vs local median 3.2% in Houston — 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 74/100 on livability (#184 in TX, #4,771 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime F.
• Houston ISD (urban): math 27% / reading 35% proficiency, ranked #593 of 826 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Edison Middle (math 12% / reading 16%, grade F, #1,596 of 1,662 statewide, top 96%, 460 students, 96% FRL); Austin H S (math 9% / reading 18%, grade F, #1,530 of 1,632 statewide, top 94%, 1,448 students, 97% FRL) — zoned schools average 97% FRL vs 71% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 14% at this address vs 31% district-wide (-17 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.9%/yr); 161 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); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $2,076/mo this rent would consume 50% of the median local household income ($50k/yr) (locally 655% 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 $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 0.0% rent growth), your $42k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 4.2% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,000

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.39% ✓
• Cap rate: 8.52%
• Cash-on-cash: 7.95%
• DSCR: 1.35
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $280,050
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7047 Avenue E	0.71mi	3/2.0 (+1)	1,668 (-11%)	2mo	$250,000	$150	38

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 28.6%
• Equity multiple: 3.23×
• Total profit: $92,903
• Equity at exit: $134,231

10-year hold

• IRR: 23.8%
• Equity multiple: 6.98×
• Total profit: $249,321
• Equity at exit: $289,474

Cash invested: $41,720 (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 77011

• Home prices YoY: 30.1%
• Rents YoY: -2.9%
• Active inventory: 161
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $2,076 high
• Mortgage (P&I): −$781
• Tax from tax record: −$520 /mo · $6,242/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$436
• Net cashflow: $276

Break-even live

Break-even rent $1,726

Max offer price $149,000

Occupancy floor 82%

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6403 Avenue C Unit 1019625P Houston, TX	2.0–8.0	1.0–4.0	1232	$2,478	$2.01	3d	2	0.18mi
5504 Texas St Unit 1514810P Houston, TX	3.0	2.5	1808	$7,026	$3.89	3d	1	0.63mi
5502 Texas St Unit 1514806P Houston, TX	3.0	2.5	1808	$7,216	$3.99	8d	1	0.64mi
5121 Polk St Unit 1 Houston, TX	2.0	1.0	1300	$1,600	$1.23	24d	1	0.79mi
207 Edgewood St Houston, TX	3.0	4.0	2577	$3,250	$1.26	44d	1	0.79mi
4952 Polk St Unit 1531107P Houston, TX	2.0	2.0	1980	$2,327	$1.18	8d	1	0.97mi
7334 Texas St Houston, TX	3.0	2.0	1782	$2,200	$1.23	44d	1	1.04mi
2 Jenkins St Houston, TX	3.0	2.0	1242	$2,250	$1.81	44d	1	1.41mi
1552 Lombardy St Houston, TX	1.0	1.0	2528	$1,150	$0.45	44d	1	1.46mi

Listing history 9 events

1. 2026-06-18
   days on market $149,000 Active 11 DOM
2. 2026-06-17
   days on market $149,000 Active 10 DOM
3. 2026-06-16
   days on market $149,000 Active 9 DOM
4. 2026-06-15
   days on market $149,000 Active 8 DOM
5. 2026-06-13
   pricedays on market $149,000 Active 6 DOM
6. 2026-06-03
   days on market $169,000 Active 5 DOM
7. 2026-06-02
   days on market $169,000 Active 4 DOM
8. 2026-06-01
   days on market $169,000 Active 3 DOM
9. 2026-05-31
   days on market $169,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $6,242 · $520/mo
• Projected year-2 tax: $6,242 · $520/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 47% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,910
• − Mortgage interest: −$8,346
• − Property taxes: −$6,242
• − Insurance: −$745
• − Repairs & maintenance: −$1,993
• − Management: −$1,993
• − Depreciation: −$4,335
• Taxable income: $1,257
• Est. tax owed @ 24.0%: −$302
• After-tax cash flow: $3,014/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.

Schools (NCES district)

• District: Houston ISD
• NCES district ID: 4823640
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $46,054
• Composite: 26.63/100
• National rank: #7173
• State rank: #593 of 826 in TX

Livability — Houston

• Score: 74/100
• State rank: #184
• US rank: #4771

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Houston, TX
• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 14,940
• Household income: $50,133
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 655.0

Population outlook (Harris County) Hauer SSP2

• Today (2025): 5,571,493 people
• By 2030: 6,089,821 · +9.3%
• By 2040: 7,142,806 · +28.2%
• By 2050: 8,185,864 · +46.9%
• By 2075: 10,574,329 · +89.8%
• By 2100: 12,109,958 · +117.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (88%)
• Race & ethnicity: Hispanic / Latino 88% Two or more races 29% White 7% Black 3%
• Hispanic origin (detail): Mexican 81%
• Foreign-born: 33% · Canada
• Languages at home: 24% English-only · Spanish 76%

Political lean MEDSL · Harris

• 2024 margin: Lean D (+5.5) · D 52.0% · R 46.4% · Other 1.6%
• 2008→2024 swing: +3.9pp toward D · 2008: 1.6pp · 2024: 5.5pp
• All cycles: 2024: D+5.5 2020: D+13.3 2016: D+12.4 2012: D+0.1 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 68.18%
• Current HPI: 295.1198
• Rent YoY: ▼ -2.93%
• Metro: Houston-The Woodlands-Sugar Land, 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

3 events — show timeline

• 2026-05-29 Listed $169,000 HARMLS
• 2026-04-06 Sold (Public Records) — Public Records
• 1990-07-27 Sold (Public Records) — Public Records

Property tax history

+5.2%/yr

Latest (2025): $6,242 · +1.5% YoY. Source: county tax records.