5050 Nassau Rd · Houston, TX 77021

$140,000

3 bd · 1.0 ba · 1,140 sqft · SingleFamily public records · 369 Days on market

Built 1947 6,838 sqft lot $123/sqft · 27% below area Est $193k · 27% under ↓ 22% since listing

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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).

• Cash flow +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.3/10.0
• DSCR +4.6/10.0
• 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

Ideal property for gut renovation or even new construction. Currently a 3 bedroom and 2 bathroom home in need of restoration. In its current state, the footprint can be enlarged to include all the modern necessities! The neighborhood is established and brand new construction nearby. Property is being sold as-is. Close proximity to Texas Medical Center Helix Park and Levit Green. Quick commute to NRG, the Museum District and Downtown Houston.

Key facts

• Quick commute to nrg
• Gut renovation
• New construction

Tags

• GUT RENOVATION
• NEW CONSTRUCTION
• ESTABLISHED NEIGHBORHOOD
• QUICK COMMUTE TO NRG

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $44 ($524/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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); 467 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 38% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 369 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $40k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $123,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 369 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 1947 — 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: 1.03% ✓
• Cap rate: 6.67%
• Cash-on-cash: 1.34%
• DSCR: 1.06
• GRM: 8.1

CMA / ARV

• ARV (median comp): $192,832
• List price: $140,000
• Delta: -27.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5063 Nassau Rd	0.04mi	3/2.0	1,092 (-4%)	10mo	$222,900	$204	78
5107 Dickens Rd	0.06mi	3/1.0	1,064 (-7%)	10mo	$159,000	$149	78
5034 Nassau Rd	0.04mi	2/1.0 (-1)	1,049 (-8%)	13mo	$100,000	$95	68
4915 Dickens Rd	0.18mi	3/1.5	1,201 (+5%)	22mo	$209,000	$174	62
5023 Nassau Rd	0.09mi	2/1.0 (-1)	1,001 (-12%)	14mo	$125,000	$125	59
6112 Pineway Blvd	0.55mi	3/1.0	1,233 (+8%)	5mo	$175,000	$142	56
5026 Marietta Ln	0.24mi	4/1.0 (+1)	1,212 (+6%)	21mo	$179,900	$148	56
4826 Ventura Ln	0.46mi	3/2.0	1,268 (+11%)	2mo	$259,900	$205	54
5518 Nassau Rd	0.41mi	3/2.0	1,279 (+12%)	4mo	$145,000	$113	53
4731 Marietta Ln	0.64mi	2/1.0 (-1)	1,260 (+10%)	14mo	$205,000	$163	36
3603 Lazywood Ln	0.65mi	3/1.0	1,039 (-9%)	24mo	$194,900	$188	35

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: -15.1%
• Equity multiple: 0.46×
• Total profit: $-20,999
• Equity at exit: $20,874

10-year hold

• IRR: -8.1%
• Equity multiple: 0.51×
• Total profit: $-19,115
• Equity at exit: $12,105

Cash invested: $39,200 (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: 467
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,440 high
• Mortgage (P&I): −$734
• Tax from tax record: −$302 /mo · $3,618/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $44

Break-even live

Break-even rent $1,385

Max offer price $140,000

Occupancy floor 92%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5101 Martin Luther King Blvd Unit MO54 Houston, TX	2.0	2.0	1322	$1,210	$0.92	12d	1	0.13mi
4977 Martin Luther King Blvd Houston, TX	4.0	4.0	1396	$870	$0.62	24d	1	0.21mi
5610 Royal Palms St Houston, TX	2.0	1.0	900	$950	$1.06	24d	1	0.51mi
5154 Griggs Rd Unit CAVE Houston, TX	2.0	2.0	1322	$1,420	$1.07	3d	1	0.57mi
5116 Griggs Rd Houston, TX	3.0	2.0	1131	$1,316	$1.16	43d	1	0.60mi
4722 Old Spanish Trl Unit B301 Houston, TX	2.0	2.0	1027	$1,695	$1.65	44d	1	0.64mi
5520 Griggs Rd Houston, TX	2.0	2.0	1322	$1,241	$0.94	43d	1	0.68mi
5520 Griggs Rd Houston, TX	2.0	2.0	1322	$1,241	$0.94	22d	1	0.68mi
5514 Griggs Rd Unit 2047 Houston, TX	2.0	2.0	1322	$1,214	$0.92	3d	1	0.69mi
5514 Griggs Rd Unit 2047 Houston, TX	2.0	2.0	1322	$1,225	$0.93	11d	1	0.69mi
5514 Griggs Rd Houston, TX	2.0	2.0	1322	$1,210	$0.92	43d	1	0.75mi
5514 Griggs Rd Unit 422 Houston, TX	2.0	2.0	1322	$1,190	$0.90	7d	1	0.77mi
5514 Griggs Rd Unit 5571 Houston, TX	2.0	2.0	1322	$1,214	$0.92	11d	1	0.77mi
5514 Griggs Rd Unit 2187 Houston, TX	2.0	2.0	1322	$1,182	$0.89	3d	1	0.77mi
5514 Griggs Rd Unit 2162 Houston, TX	2.0	2.0	1322	$1,190	$0.90	5d	1	0.77mi
5924 Schroeder Rd Houston, TX	2.0	1.0	900	$895	$0.99	22d	1	0.79mi
5924 Schroeder Rd Houston, TX	2.0	1.0	900	$895	$0.99	43d	1	0.79mi
5918 Schroeder Rd Houston, TX	1.0–2.0	1.0	850	$1,000	$1.18	43d	1	0.80mi
4465 N MacGregor Way Houston, TX	4.0	4.0	1366	$940	$0.69	24d	1	0.82mi
5123 Dewberry St Houston, TX	4.0	2.0	1391	$2,400	$1.73	43d	1	0.88mi
2801 Carrolton St Houston, TX	1.0–2.0	1.0	650	$899	$1.38	1d	4	0.90mi
2801 Carrolton St Houston, TX	1.0–2.0	1.0	650	$849	$1.31	43d	2	0.90mi
3852 Telephone Rd Houston, TX	1.0–3.0	1.0–2.0	911	$1,640	$1.80	2d	19	1.21mi
2606 Beatty St Unit 224 Houston, TX	2.0	1.5	700	$950	$1.36	24d	1	1.24mi
5813 England St Unit A Houston, TX	3.0	2.5	1473	$2,195	$1.49	4d	1	1.24mi
2606 Beatty St Houston, TX	2.0	1.0	700	$950	$1.36	24d	1	1.25mi
6528 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	43d	1	1.28mi
5835 Southmont St Houston, TX	3.0	2.0	1200	$1,700	$1.42	43d	1	1.28mi
6532 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	18d	1	1.29mi
5532 Eskridge St Houston, TX	2.0	1.0	885	$899	$1.02	43d	1	1.29mi
5532 Eskridge St Houston, TX	2.0	1.0	810	$899	$1.11	15d	1	1.29mi
5537 Bataan Rd Houston, TX	2.0	1.0	880	$1,300	$1.48	43d	1	1.40mi
3810 Weslow St Unit B Houston, TX	2.0	1.0	924	$1,149	$1.24	7d	1	1.48mi
3810 Weslow St Houston, TX	2.0	1.0	924	$1,449	$1.57	43d	1	1.48mi

Listing history 18 events

1. 2026-06-18
   days on market $140,000 Active 369 DOM
2. 2026-06-17
   days on market $140,000 Active 368 DOM
3. 2026-06-16
   days on market $140,000 Active 367 DOM
4. 2026-06-15
   days on market $140,000 Active 366 DOM
5. 2026-06-13
   days on market $140,000 Active 364 DOM
6. 2026-06-10
   days on market $140,000 Active 360 DOM
7. 2026-06-08
   days on market $140,000 Active 359 DOM
8. 2026-06-07
   days on market $140,000 Active 358 DOM
9. 2026-06-04
   days on market $140,000 Active 355 DOM
10. 2026-06-01
    days on market $140,000 Active 352 DOM
11. 2026-05-31
    days on market $140,000 Active 351 DOM
12. 2025-12-14
    status Active 445-char remark

    Show marketing remark (445 chars)

    Ideal property for gut renovation or even new construction. Currently a 3 bedroom and 2 bathroom home in need of restoration. In its current state, the footprint can be enlarged to include all the modern necessities! The neighborhood is established and brand new construction nearby. Property is being sold as-is. Close proximity to Texas Medical Center Helix Park and Levit Green. Quick commute to NRG, the Museum District and Downtown Houston.

13. 2025-12-14
    price $140,000 445-char remark

    Show marketing remark (445 chars)

    Ideal property for gut renovation or even new construction. Currently a 3 bedroom and 2 bathroom home in need of restoration. In its current state, the footprint can be enlarged to include all the modern necessities! The neighborhood is established and brand new construction nearby. Property is being sold as-is. Close proximity to Texas Medical Center Helix Park and Levit Green. Quick commute to NRG, the Museum District and Downtown Houston.

14. 2025-12-12
    historical 445-char remark

    Show marketing remark (445 chars)

    Ideal property for gut renovation or even new construction. Currently a 3 bedroom and 2 bathroom home in need of restoration. In its current state, the footprint can be enlarged to include all the modern necessities! The neighborhood is established and brand new construction nearby. Property is being sold as-is. Close proximity to Texas Medical Center Helix Park and Levit Green. Quick commute to NRG, the Museum District and Downtown Houston.

15. 2025-08-28
    price $160,000 445-char remark

    Show marketing remark (445 chars)

    Ideal property for gut renovation or even new construction. Currently a 3 bedroom and 2 bathroom home in need of restoration. In its current state, the footprint can be enlarged to include all the modern necessities! The neighborhood is established and brand new construction nearby. Property is being sold as-is. Close proximity to Texas Medical Center Helix Park and Levit Green. Quick commute to NRG, the Museum District and Downtown Houston.

16. 2025-06-13
    listed $180,000 Active 445-char remark

    Show marketing remark (445 chars)

    Ideal property for gut renovation or even new construction. Currently a 3 bedroom and 2 bathroom home in need of restoration. In its current state, the footprint can be enlarged to include all the modern necessities! The neighborhood is established and brand new construction nearby. Property is being sold as-is. Close proximity to Texas Medical Center Helix Park and Levit Green. Quick commute to NRG, the Museum District and Downtown Houston.

17. 2019-07-01
    soldstatus
18. 1988-01-02
    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: $3,618 · $302/mo
• Projected year-2 tax: $3,618 · $302/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 6/10 Major FEMA zone X (unshaded) · 74% 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: $17,281
• − Mortgage interest: −$7,842
• − Property taxes: −$3,618
• − Insurance: −$700
• − Repairs & maintenance: −$1,382
• − Management: −$1,382
• − Depreciation: −$4,073
• Taxable loss: −$1,717
• Est. tax savings @ 24.0%: +$412
• After-tax cash flow: $936/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

-22.2% since first listed

7 events — show timeline

• 2025-12-14 Relisted — HARMLS
• 2025-12-14 Price Changed $140,000 HARMLS
• 2025-12-12 Listing Removed — HARMLS
• 2025-08-28 Price Changed $160,000 HARMLS
• 2025-06-13 Listed $180,000 HARMLS
• 2019-07-01 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+6.7%/yr

Latest (2025): $3,618 · -4.3% YoY. Source: county tax records.