6723 London St · Houston, TX 77021

$73,000

2 bd · 1.0 ba · 1,538 sqft · SingleFamily public records · 162 Days on market

Built 1950 7,501 sqft lot $47/sqft · 71% below area ↓ 5% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this stunning 2-bedroom, 1 -bathroom home, perfectly situated in a desirable neighborhood. Outside, enjoy the beautifully yard perfect for entertaining. With convenient access to schools, shopping, and parks, this home is the perfect blend of comfort and style. To help visualize this home’s floor plan and to highlight its potential, virtual furnishings may have been added to photos found in this listing. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

Key facts

• 7,501 sq ft lot
• Built 1950
• Listed 161 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $73k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $73k).
• Recommended offer: $64k (12.0% below list) — sets the bar for market timing.
• Cap rate 23.1% 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: schools D, 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.
• Market conditions: Rents rising (+2.2%/yr); 471 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $2,046/mo this rent would consume 54% of the median local household income ($46k/yr) (locally 2532% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $505 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $20k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 162 days — a 12% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $28k (28%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1950 — 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 $64,240 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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?
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 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: 2.80% ✓
• Cap rate: 23.08%
• Cash-on-cash: 59.96%
• DSCR: 3.67
• GRM: 3.0

CMA / ARV

• ARV (median comp): $253,997
• List price: $73,000
• Delta: -71.26%
• 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
6625 Goforth St	0.22mi	3/1.0 (+1)	1,489 (-3%)	4mo	$142,000	$95	76
6832 Goforth St	0.25mi	3/1.0 (+1)	1,392 (-10%)	5mo	$98,000	$70	63
6906 England St	0.37mi	3/2.5 (+1)	1,600 (+4%)	4mo	$309,900	$194	61
6908 England St	0.38mi	3/2.5 (+1)	1,600 (+4%)	5mo	$309,900	$194	60
4211 Faulkner St	0.46mi	3/2.5 (+1)	1,610 (+5%)	3mo	$274,900	$171	57
6419 Madrid St	0.41mi	3/2.5 (+1)	1,693 (+10%)	3mo	$329,900	$195	50
7117 England St Unit C	0.50mi	3/2.5 (+1)	1,700 (+10%)	1mo	$340,000	$200	48
6614 Sherwood Dr	0.51mi	3/2.0 (+1)	1,701 (+11%)	5mo	$149,900	$88	46
7131 Eastwood St Unit C	0.45mi	3/2.5 (+1)	1,700 (+10%)	6mo	$320,000	$188	46
7117 England St Unit A	0.49mi	3/2.5 (+1)	1,700 (+10%)	5mo	$359,900	$212	44
7117 England St Unit B	0.49mi	3/2.5 (+1)	1,700 (+10%)	5mo	$359,900	$212	44
6401 Goforth St	0.38mi	3/2.5 (+1)	1,767 (+15%)	4mo	$339,000	$192	43

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 2.17% rent growth · sell at horizon

5-year hold

• IRR: 57.7%
• Equity multiple: 3.53×
• Total profit: $51,612
• Equity at exit: $10,885

10-year hold

• IRR: 62.3%
• Equity multiple: 6.98×
• Total profit: $122,217
• Equity at exit: $6,312

Cash invested: $20,440 (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 77021

• Home prices YoY: -23.6%
• Rents YoY: 2.2%
• Active inventory: 471
• Price-to-rent: 3.0×

Monthly cashflow live

• Estimated rent: $2,046 high
• Mortgage (P&I): −$383
• Tax from tax record: −$182 /mo · $2,184/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$430
• Net cashflow: $1,021

Break-even live

Break-even rent $753

Max offer price $73,000

Occupancy floor 45%

Sensitivity live

Price	-10% $1,063	-5% $1,042	+0% $1,021	+5% $1,001	+10% $980
Rent	-10% $860	-5% $941	+0% $1,021	+5% $1,102	+10% $1,183
Rate	-1.0pp $1,058	-0.5pp $1,040	base $1,021	+0.5pp $1,002	+1.0pp $983

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: $18,250
• Closing costs: $2,190
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6731 New York St Houston, TX	3.0	3.0	2211	$2,100	$0.95	44d	1	0.04mi
4705 Idaho St Houston, TX	3.0	2.5	1664	$2,500	$1.50	18d	1	0.20mi
6926 Paris St Houston, TX	3.0	2.0	1276	$1,900	$1.49	0d	1	0.22mi
6928 Paris St Houston, TX	3.0	2.0	1276	$1,900	$1.49	0d	1	0.23mi
6532 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	19d	1	0.34mi
6528 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	0d	1	0.35mi
6528 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	44d	1	0.35mi
6809 Conley St Houston, TX	3.0	4.0	1921	$2,600	$1.35	44d	1	0.38mi
4515 Dewberry St Houston, TX	1.0	1.0	1400	$664	$0.47	21d	1	0.49mi
7032 Conley St Houston, TX	3.0	2.0	1220	$2,850	$2.34	44d	1	0.50mi
7321 Conley St Unit B Houston, TX	3.0	2.0	1501	$2,025	$1.35	21d	1	0.73mi
7321 Conley St Unit A Houston, TX	3.0	2.5	1869	$2,025	$1.08	21d	1	0.73mi
5813 England St Unit A Houston, TX	3.0	2.5	1473	$2,195	$1.49	5d	1	0.84mi
7358 Guadalcanal Rd Houston, TX	3.0	3.0	1768	$2,195	$1.24	44d	1	0.84mi
3731 Alsace St Unit 1560804P Houston, TX	3.0	2.0	2002	$3,387	$1.69	4d	1	0.88mi
5317 Chennault Rd Unit A Houston, TX	3.0	2.5	1608	$1,849	$1.15	0d	1	0.92mi
3846 Seabrook St Houston, TX	3.0	3.5	1833	$2,300	$1.25	44d	1	0.92mi
4530 Mayflower St Houston, TX	3.0	2.0	1302	$1,800	$1.38	44d	1	0.98mi
5116 Griggs Rd Houston, TX	3.0	2.0	1131	$1,316	$1.16	44d	1	1.03mi
3732 Seabrook St Houston, TX	3.0	2.5	1727	$2,350	$1.36	25d	1	1.03mi
3615 Dreyfus St Houston, TX	3.0	3.0	2011	$2,800	$1.39	44d	1	1.05mi
3655 Seabrook St Unit 6 Houston, TX	2.0	1.0	1600	$1,000	$0.62	44d	1	1.06mi
5154 Griggs Rd Unit CAVE Houston, TX	2.0	2.0	1322	$1,420	$1.07	4d	1	1.06mi
7710 Darnay Dr Houston, TX	3.0	3.0	1635	$2,095	$1.28	44d	1	1.14mi
4943 Culmore Dr Houston, TX	1.0	1.0	1700	$651	$0.38	6d	1	1.19mi
3560 Dixie Dr Unit 2165 Houston, TX	2.0	2.0	1322	$1,394	$1.05	0d	1	1.21mi
3560 Dixie Dr Apt 422 Houston, TX	2.0	2.0	1322	$1,410	$1.07	8d	1	1.21mi
3560 Dixie Dr Unit 2162 Houston, TX	2.0	2.0	1322	$1,410	$1.07	6d	1	1.21mi
3560 Dixie Dr Unit 3597 Houston, TX	2.0	2.0	1322	$1,434	$1.08	12d	1	1.21mi
3560 Dixie Dr Unit 3617 Houston, TX	2.0	2.0	1322	$1,435	$1.09	44d	1	1.21mi
4609 Bricker St Unit C Houston, TX	2.0	1.5	1100	$3,200	$2.91	14d	1	1.21mi
4609 Bricker St Unit B Houston, TX	3.0	2.5	1300	$3,500	$2.69	14d	1	1.21mi
4609 Bricker St Unit ABC Houston, TX	3.0	2.5	1375	$3,500	$2.55	12d	1	1.21mi
4613 Bricker St Unit B Houston, TX	3.0	2.5	1600	$2,300	$1.44	44d	1	1.22mi
3644 Griggs Rd Unit 1047940P Houston, TX	3.0	2.5	1399	$2,161	$1.54	3d	1	1.22mi
5835 Southmont St Houston, TX	3.0	2.0	1200	$1,700	$1.42	44d	1	1.26mi
5514 Griggs Rd Unit 2187 Houston, TX	2.0	2.0	1322	$1,174	$0.89	0d	1	1.26mi
5514 Griggs Rd Unit 422 Houston, TX	2.0	2.0	1322	$1,190	$0.90	8d	1	1.26mi
5514 Griggs Rd Unit 5571 Houston, TX	2.0	2.0	1322	$1,214	$0.92	12d	1	1.26mi
5514 Griggs Rd Unit 2165 Houston, TX	2.0	2.0	1322	$1,215	$0.92	0d	1	1.26mi

Listing history 18 events

1. 2026-06-21
   statusdays on market $73,000 Pending 162 DOM
2. 2026-06-18
   days on market $73,000 Active 159 DOM
3. 2026-06-17
   days on market $73,000 Active 158 DOM
4. 2026-06-16
   days on market $73,000 Active 157 DOM
5. 2026-06-15
   days on market $73,000 Active 156 DOM
6. 2026-06-13
   days on market $73,000 Active 154 DOM
7. 2026-06-10
   days on market $73,000 Active 150 DOM
8. 2026-06-08
   days on market $73,000 Active 149 DOM
9. 2026-06-07
   pricedays on market $73,000 Active 148 DOM
10. 2026-06-04
    days on market $78,000 Active 145 DOM
11. 2026-06-01
    days on market $78,000 Active 142 DOM
12. 2026-05-31
    days on market $78,000 Active 141 DOM
13. 2026-05-11
    status Active 568-char remark

    Show marketing remark (568 chars)

    Welcome to this stunning 2-bedroom, 1 -bathroom home, perfectly situated in a desirable neighborhood. Outside, enjoy the beautifully yard perfect for entertaining. With convenient access to schools, shopping, and parks, this home is the perfect blend of comfort and style. To help visualize this home’s floor plan and to highlight its potential, virtual furnishings may have been added to photos found in this listing. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

14. 2026-04-17
    status Pending 568-char remark

    Show marketing remark (568 chars)

    Welcome to this stunning 2-bedroom, 1 -bathroom home, perfectly situated in a desirable neighborhood. Outside, enjoy the beautifully yard perfect for entertaining. With convenient access to schools, shopping, and parks, this home is the perfect blend of comfort and style. To help visualize this home’s floor plan and to highlight its potential, virtual furnishings may have been added to photos found in this listing. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

15. 2026-04-10
    status Pending 568-char remark

    Show marketing remark (568 chars)

    Welcome to this stunning 2-bedroom, 1 -bathroom home, perfectly situated in a desirable neighborhood. Outside, enjoy the beautifully yard perfect for entertaining. With convenient access to schools, shopping, and parks, this home is the perfect blend of comfort and style. To help visualize this home’s floor plan and to highlight its potential, virtual furnishings may have been added to photos found in this listing. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

16. 2026-01-21
    price $95,950 568-char remark

    Show marketing remark (568 chars)

    Welcome to this stunning 2-bedroom, 1 -bathroom home, perfectly situated in a desirable neighborhood. Outside, enjoy the beautifully yard perfect for entertaining. With convenient access to schools, shopping, and parks, this home is the perfect blend of comfort and style. To help visualize this home’s floor plan and to highlight its potential, virtual furnishings may have been added to photos found in this listing. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

17. 2025-12-17
    listed $101,000 Active 568-char remark

    Show marketing remark (568 chars)

    Welcome to this stunning 2-bedroom, 1 -bathroom home, perfectly situated in a desirable neighborhood. Outside, enjoy the beautifully yard perfect for entertaining. With convenient access to schools, shopping, and parks, this home is the perfect blend of comfort and style. To help visualize this home’s floor plan and to highlight its potential, virtual furnishings may have been added to photos found in this listing. To help visualize this homes floor plan and to highlight its potential virtual furnishings may have been added to photos found in this listing.

18. 1989-05-08
    soldstatus

ⓘ 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: $2,184 · $182/mo
• Projected year-2 tax: $2,184 · $182/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $24,555
• − Mortgage interest: −$4,089
• − Property taxes: −$2,184
• − Insurance: −$365
• − Repairs & maintenance: −$1,964
• − Management: −$1,964
• − Depreciation: −$2,124
• Taxable income: $11,865
• Est. tax owed @ 24.0%: −$2,848
• After-tax cash flow: $9,409/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): 26,153
• Household income: $45,574
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 2532.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 62% Hispanic / Latino 22% Two or more races 12% White 10% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 77% English-only · Spanish 19% French/Haitian/Cajun 1% Other Indo-European 1%

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: ▼ -71.22%
• Current HPI: 230.2869
• Rent YoY: ▲ 2.17%
• 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

-5.0% since first listed

6 events — show timeline

• 2026-05-11 Relisted — HARMLS
• 2026-04-17 Pending — HARMLS
• 2026-04-10 Pending — HARMLS
• 2026-01-21 Price Changed $95,950 HARMLS
• 2025-12-17 Listed $101,000 HARMLS
• 1989-05-08 Sold (Public Records) — Public Records

Property tax history

+7.3%/yr

Latest (2025): $2,184 · +11.7% YoY. Source: county tax records.