6604 Conley St · Houston, TX 77021

$89,882

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 51 Days on market

Built 1950 5,148 sqft lot $94/sqft · 43% below area Est $158k · 43% under ↓ 18% 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 +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• 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

This area is going through a major transformation. Lots of new and remodeled homes going up in the area. This is a great project for a landlord or someone who wants to fix up a place for themselves and get in at a great price. Close proximity to downtown as well as the airport and major universities. Schools close by as well as shopping etc. Check out the virtual walkthrough! No wholesalers!!!

Key facts

• Shopping close by
• Schools close by
• 5,148 sq ft lot

Tags

• CLOSE PROXIMITY TO DOWNTOWN
• CLOSE PROXIMITY TO AIRPORT
• SCHOOLS CLOSE BY
• SHOPPING CLOSE BY

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property; Single-story (first-floor living); Built in 1950; Entry level on first floor
• Construction: Cement siding; Composition roof; Pillar/post/pier foundation
• Exterior features: Subdivision lot

Interior

• Bedrooms: Three bedrooms on the first floor (each about 10x10), including a primary bedroom
• Bathrooms: One full bathroom
• Heating & cooling: Window unit cooling; Window unit heating
• Interior features: 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.6% 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: Cullen Middle (math 6% / reading 14%, grade F, #1,641 of 1,662 statewide, top 99%, 324 students, 100% FRL); Yates H S (math 12% / reading 23%, grade F, #1,451 of 1,632 statewide, top 89%, 851 students, 96% 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 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 rising (+2.2%/yr); 471 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 35% 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 $622 of loan paydown is wiped out by about $3k 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 $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

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 $87,185 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.49% ✓
• Cap rate: 10.62%
• Cash-on-cash: 15.46%
• DSCR: 1.69
• GRM: 5.6

CMA / ARV

• ARV (median comp): $157,705
• List price: $89,882
• Delta: -43.01%
• 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
6741 Goforth St	0.25mi	3/2.0	976 (+2%)	8mo	$139,000	$142	74
3731 Alberta St	0.40mi	3/1.0	1,002 (+4%)	7mo	$110,000	$110	69
6719 Goforth St	0.23mi	3/1.0	1,075 (+12%)	3mo	$130,000	$121	67
6418 Calhoun Rd	0.52mi	2/1.5 (-1)	945 (-2%)	2mo	$190,000	$201	64
6103 Sherwood Dr	0.44mi	3/1.0	1,056 (+10%)	1mo	$115,000	$109	62
4407 Alice St	0.42mi	2/1.0 (-1)	896 (-7%)	5mo	$95,000	$106	60
6427 Paris St	0.49mi	3/2.0	1,089 (+13%)	0mo	$205,000	$188	50
6320 Paris St	0.51mi	3/2.0	1,089 (+13%)	0mo	$230,000	$211	50
4523 Keystone St	0.61mi	3/2.0	1,073 (+12%)	4mo	$195,000	$182	44
4613 Kingsbury St	0.75mi	2/1.0 (-1)	1,036 (+8%)	6mo	$105,000	$101	42
3631 Wyoming St	0.55mi	4/2.0 (+1)	1,090 (+14%)	5mo	$265,000	$243	39
4521 Kingsbury St	0.65mi	3/2.0	1,100 (+15%)	7mo	$214,900	$195	36

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: 5.2%
• Equity multiple: 1.20×
• Total profit: $5,069
• Equity at exit: $13,402

10-year hold

• IRR: 13.9%
• Equity multiple: 2.07×
• Total profit: $26,897
• Equity at exit: $7,771

Cash invested: $25,167 (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: 5.6×

Monthly cashflow live

• Estimated rent: $1,337 high
• Mortgage (P&I): −$471
• Tax from tax record: −$223 /mo · $2,677/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $324

Break-even live

Break-even rent $926

Max offer price $89,882

Occupancy floor 71%

Sensitivity live

Price	-10% $375	-5% $350	+0% $324	+5% $299	+10% $273
Rent	-10% $219	-5% $271	+0% $324	+5% $377	+10% $430
Rate	-1.0pp $370	-0.5pp $347	base $324	+0.5pp $301	+1.0pp $277

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: $22,470
• Closing costs: $2,696
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6420 Conley St Unit 7 Houston, TX	2.0	1.0	652	$975	$1.50	44d	1	0.10mi
4007 Corder St Houston, TX	2.0	1.0	814	$885	$1.09	25d	1	0.62mi
3603 Alice St Houston, TX	2.0	1.0	850	$1,000	$1.18	5d	1	0.66mi
3603 Alice St Unit 15 Houston, TX	2.0	1.0	850	$999	$1.18	8d	1	0.68mi
6215 Tierwester St Houston, TX	1.0–2.0	1.0	650	$900	$1.38	25d	3	0.80mi
6811 Del Rio St Houston, TX	2.0	1.0	588	$999	$1.70	16d	1	0.89mi
6811 Del Rio St Houston, TX	2.0	1.0	598	$999	$1.67	44d	1	0.89mi
5918 Schroeder Rd Houston, TX	1.0–2.0	1.0	850	$1,000	$1.18	44d	1	0.95mi
5924 Schroeder Rd Houston, TX	2.0	1.0	900	$895	$0.99	23d	1	0.95mi
5924 Schroeder Rd Houston, TX	2.0	1.0	900	$895	$0.99	44d	1	0.95mi
3426 Tampa St Unit 4272026 Houston, TX	2.0	1.5	1046	$1,500	$1.43	44d	1	0.98mi
3360 Alice St Unit 2292 Houston, TX	2.0	2.0	945	$998	$1.06	45d	1	1.15mi
3360 Alice St Unit 2162 Houston, TX	2.0	2.0	968	$1,323	$1.37	8d	1	1.15mi
3360 Alice St Unit 3387 Houston, TX	2.0	2.0	968	$1,307	$1.35	0d	1	1.15mi
3360 Alice St Unit 2174 Houston, TX	2.0	2.0	945	$991	$1.05	15d	1	1.15mi
3360 Alice St Unit 2174 Houston, TX	2.0	2.0	968	$1,348	$1.39	0d	1	1.15mi
3360 Alice St Unit 2047 Houston, TX	2.0	2.0	968	$1,347	$1.39	4d	1	1.16mi
4722 Old Spanish Trl Unit B301 Houston, TX	2.0	2.0	1027	$1,695	$1.65	45d	1	1.20mi
3716 Southmore Blvd Houston, TX	2.0	1.0	850	$1,000	$1.18	44d	1	1.22mi
3620 Southmore Blvd Houston, TX	2.0	1.0	780	$1,100	$1.41	15d	1	1.28mi
7812 Tierwester St Houston, TX	2.0	1.0	800	$950	$1.19	17d	2	1.29mi
7823 Gladstone St Houston, TX	2.0	2.0	850	$1,600	$1.88	44d	1	1.33mi
7826 Gladstone St Houston, TX	2.0	1.0	760	$1,250	$1.64	0d	1	1.35mi
7110 Ardmore St Houston, TX	2.0	1.0–2.0	831	$2,390	$2.87	0d	17	1.40mi
4615 Redbud St Unit b Houston, TX	3.0	2.0	872	$1,149	$1.32	25d	1	1.41mi
7818 Calhoun Rd Unit 8 Houston, TX	2.0	1.0	800	$1,200	$1.50	44d	1	1.42mi
7373 Ardmore St Houston, TX	1.0–3.0	1.0–2.0	1095	$1,887	$1.72	5d	24	1.44mi
5537 Bataan Rd Houston, TX	2.0	1.0	880	$1,300	$1.48	44d	1	1.45mi
4609 Bricker St Unit C Houston, TX	2.0	1.5	1100	$3,200	$2.91	14d	1	1.46mi

Listing history 16 events

1. 2026-06-21
   days on market $89,882 Active 51 DOM
2. 2026-06-18
   days on market $89,882 Active 48 DOM
3. 2026-06-17
   days on market $89,882 Active 47 DOM
4. 2026-06-16
   days on market $89,882 Active 46 DOM
5. 2026-06-15
   days on market $89,882 Active 45 DOM
6. 2026-06-13
   days on market $89,882 Active 43 DOM
7. 2026-06-10
   days on market $89,882 Active 39 DOM
8. 2026-06-08
   days on market $89,882 Active 38 DOM
9. 2026-06-07
   days on market $89,882 Active 37 DOM
10. 2026-06-04
    days on market $89,882 Active 34 DOM
11. 2026-06-01
    days on market $89,882 Active 31 DOM
12. 2026-05-31
    days on market $89,882 Active 30 DOM
13. 2026-05-12
    price $99,882 397-char remark
14. 2026-05-01
    listed $109,882 Active 397-char remark
15. 2026-05-01
    soldstatus
16. 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: $2,677 · $223/mo
• Projected year-2 tax: $2,677 · $223/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 1/10 Low FEMA zone X (unshaded) · 0% 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: $16,042
• − Mortgage interest: −$5,035
• − Property taxes: −$2,677
• − Insurance: −$449
• − Repairs & maintenance: −$1,283
• − Management: −$1,283
• − Depreciation: −$2,615
• Taxable income: $2,700
• Est. tax owed @ 24.0%: −$648
• After-tax cash flow: $3,243/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

-18.2% since first listed

5 events — show timeline

• 2026-05-28 Price Changed $89,882 HARMLS
• 2026-05-12 Price Changed $99,882 HARMLS
• 2026-05-01 Sold (Public Records) — Public Records
• 2026-05-01 Listed $109,882 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+5.6%/yr

Latest (2025): $2,677 · -3.9% YoY. Source: county tax records.