4903 Canal St · Houston, TX 77011

$250,000

2 bd · 2.0 ba · 1,752 sqft · MultiFamily public records · 49 Days on market

Built 1930 5,000 sqft lot $143/sqft · 36% below area Est $388k · 36% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.1/30.0
• Appreciation +10.0/10.0
• 1% rule +4.8/10.0
• DSCR +4.3/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Located in the East Downtown (EaDo) area, 4903 Canal Street offers an opportunity for redevelopment or renovation. The property includes an existing structure that will require repairs and updating. The home is being sold as-is, where-is, with no repairs to be made by the seller. While the structure may be considered for renovation, the property is priced at lot value. Conveniently situated with close proximity to Downtown Houston, major freeways, and area amenities. Buyer to independently verify all information, including lot dimensions, zoning, and permitted uses.

Key facts

• 5,000 sq ft lot
• Built 1930
• Listed 49 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 1930
• Construction: Composition roof; 1,752 building area
• Exterior features: Lot approximately 5,000 square feet; Lot irregularity listed as Other

Interior

• Bedrooms: Two bedrooms on the first floor (each approximately 10 x 12)
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (gas); Central air conditioning (gas)
• Interior features: Two total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $37 ($448/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $244k (2.2% below list).
• Recommended offer: $242k (3.0% below list) — sets the bar for market timing.

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: Navarro Middle (math 8% / reading 13%, grade F, #1,639 of 1,662 statewide, top 99%, 547 students, 98% 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 98% FRL vs 71% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 12% at this address vs 31% district-wide (-19 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; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k 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 $70k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $46k; list at $250k implies a 443% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $242,500 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 6.47%
• Cash-on-cash: 0.64%
• DSCR: 1.03
• GRM: 8.5

CMA / ARV

• ARV (median comp): $388,252
• List price: $250,000
• Delta: -35.61%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
213 Super St	0.35mi	2/1.0	1,794 (+2%)	9mo	$299,900	$167	68
210 N Estelle St	0.49mi	2/1.0	1,704 (-3%)	8mo	$300,000	$176	62
210 Linwood St	0.61mi	3/2.0 (+1)	1,916 (+9%)	7mo	$175,000	$91	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 23.7%
• Equity multiple: 2.88×
• Total profit: $131,510
• Equity at exit: $225,220

10-year hold

• IRR: 20.3%
• Equity multiple: 6.33×
• Total profit: $372,857
• Equity at exit: $485,695

Cash invested: $70,000 (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: 8.5×

Monthly cashflow live

• Estimated rent: $2,444 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$478 /mo · $5,741/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$513
• Net cashflow: $37

Break-even live

Break-even rent $2,397

Max offer price $250,000

Occupancy floor 93%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 Edgewood St Houston, TX	3.0	4.0	2577	$3,250	$1.26	43d	1	0.24mi
2 Jenkins St Houston, TX	3.0	2.0	1242	$2,250	$1.81	43d	1	0.43mi
5502 Texas St Unit 1514806P Houston, TX	3.0	2.5	1808	$7,216	$3.99	7d	1	0.49mi
5504 Texas St Unit 1514810P Houston, TX	3.0	2.5	1808	$7,026	$3.89	3d	1	0.49mi
4952 Polk St Unit 1531107P Houston, TX	2.0	2.0	1980	$2,327	$1.18	7d	1	0.77mi
5121 Polk St Unit 1 Houston, TX	2.0	1.0	1300	$1,600	$1.23	24d	1	0.78mi
6403 Avenue C Unit 1019625P Houston, TX	2.0–8.0	1.0–4.0	1232	$2,478	$2.01	3d	2	0.86mi
4001 Dallas St Unit 1029264P Houston, TX	3.0	3.0	2174	$5,077	$2.34	5d	1	1.01mi
800 Middle St Houston, TX	1.0–4.0	1.0–2.0	1003	$1,320	$1.32	5d	1	1.23mi
3226 McKinney St Houston, TX	3.0	3.0	2274	$2,500	$1.10	43d	1	1.31mi
2816 Rusk St Houston, TX	3.0	3.5	2107	$2,800	$1.33	43d	1	1.44mi
2414 East Dr Unit Canal St unit Houston, TX	3.0	3.5	2063	$2,950	$1.43	7d	1	1.48mi
308 Grove St Houston, TX	3.0	3.0	1701	$2,350	$1.38	7d	1	1.49mi

Listing history 13 events

1. 2026-06-18
   days on market $250,000 Active 49 DOM
2. 2026-06-17
   days on market $250,000 Active 48 DOM
3. 2026-06-16
   days on market $250,000 Active 47 DOM
4. 2026-06-15
   days on market $250,000 Active 46 DOM
5. 2026-06-13
   days on market $250,000 Active 44 DOM
6. 2026-06-10
   days on market $250,000 Active 40 DOM
7. 2026-06-08
   days on market $250,000 Active 39 DOM
8. 2026-06-07
   days on market $250,000 Active 38 DOM
9. 2026-06-04
   days on market $250,000 Active 35 DOM
10. 2026-06-01
    days on market $250,000 Active 32 DOM
11. 2026-05-31
    days on market $250,000 Active 31 DOM
12. 2026-04-30
    listed $250,000 Active 578-char remark
13. 1997-02-24
    soldstatus $46,000

ⓘ 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: $5,741 · $478/mo
• Projected year-2 tax: $5,741 · $478/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $29,331
• − Mortgage interest: −$14,004
• − Property taxes: −$5,741
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,346
• − Management: −$2,346
• − Depreciation: −$7,273
• Taxable loss: −$3,630
• Est. tax savings @ 24.0%: +$871
• After-tax cash flow: $1,319/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

+443.5% since first listed

2 events — show timeline

• 2026-04-30 Listed $250,000 HARMLS
• 1997-02-24 Sold (Public Records) $46,000 Public Records

Property tax history

+12.1%/yr

Latest (2025): $5,741 · +1.5% YoY. Source: county tax records.