4511 Reed Rd · Houston, TX 77051

$469,850

6 bd · 4.0 ba · 2,912 sqft · MultiFamily public records · 29 Days on market

Built 2022 Good condition 5,050 sqft lot $161/sqft · at area comps Est $469k · at est.

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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 +12.0/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +4.0/10.0
• Condition / age +4.0/5.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• DSCR +3.5/10.0
• Schools +2.7/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Discover 4511 Reed Rd, Houston, TX 77051, a well-maintained duplex offering exceptional space and versatility. Each unit features four generously sized bedrooms, three full bathrooms, and functional layouts designed for comfortable living. The kitchens are equipped with granite countertops, stainless steel appliances, and ample cabinetry, blending style and practicality. With a total of 2,985 square feet of living space situated on a 5,050-square-foot lot, this property is ideal for investors or homeowners seeking rental income potential. Conveniently located near major highways, schools, and local amenities, this duplex combines convenience with opportunity. With Double parking for each si

Key facts

• Ample cabinetry
• Double parking
• Local amenities

Tags

• GRANITE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• AMPLE CABINETRY
• DOUBLE PARKING
• DIVIDING FENCE BACK YARD
• LOCAL AMENITIES

Property features AI

Exterior

• Security: Fire alarm
• Utilities: Has heating and cooling
• Home design: Residential income property; Faces south; Built in 2022
• Construction: Composition roof
• Exterior features: Patio; Partial fencing; Cleared lot; Near public transit

Interior

• Kitchen: Dishwasher; Garbage disposal; Microwave; Refrigerator; ENERGY STAR qualified appliances
• Bedrooms: Two 4-bedroom units
• Flooring: Laminate; Carpet
• Bathrooms: 6 full bathrooms (total)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Granite counters; Window treatments / coverings; Ceiling fan(s); Programmable thermostat; Fire alarm
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 2 × 4-bed/3.0-bath units multifamily listed at $470k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-115 ($-1k/yr) — negative. Per door: $-57/mo.
• To cash-flow at today's rent, offer at most $450k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $422k (10.2% below list).
• Recommended offer: $422k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: Bastian El (math 17% / reading 17%, grade F, #3,836 of 4,322 statewide, top 91%, 648 students, 99% FRL); Attucks Middle (math 15% / reading 22%, grade F, #1,478 of 1,662 statewide, top 90%, 439 students, 98% FRL); Worthing H S (math 22% / reading 21%, grade F, #1,377 of 1,632 statewide, top 85%, 827 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 19% at this address vs 31% district-wide (-12 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 fast (+4.8%/yr); 321 active listings in the ZIP; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $4,220/mo this rent would consume 135% of the median local household income ($37k/yr) (locally 1446% 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 $50k of equity ($3k loan paydown + $47k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$81k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($463k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 6y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $422,000 (10.2% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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: 0.90% ✗
• Cap rate: 6.00%
• Cash-on-cash: -1.05%
• DSCR: 0.95
• GRM: 9.3

CMA / ARV

• ARV (median comp): $469,363
• List price: $469,850
• Delta: 2.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4614 Galesburg St Unit A/B	0.51mi	6/2.0	3,140 (+8%)	17mo	$539,000	$172	41
3614 Dawson Ln Unit A/B	0.70mi	6/2.0	2,848 (-2%)	18mo	$420,000	$147	40
9204 Jutland Rd Unit A/B	0.65mi	6/3.0	2,594 (-11%)	14mo	$530,000	$204	36
4131 Mallow St Unit A-B	0.41mi	6/2.0	2,500 (-14%)	17mo	$490,000	$196	35
9208 Jutland St Unit A/B	0.65mi	6/3.0	2,593 (-11%)	15mo	$530,000	$204	34
9212 Jutland	0.65mi	6/3.0	2,594 (-11%)	17mo	$530,000	$204	33
9315 Ashville Dr Unit A/B	0.73mi	6/3.0	2,648 (-9%)	16mo	$535,500	$202	33
4133 Mallow St Unit A-B	0.40mi	5/3.0 (-1)	2,500 (-14%)	19mo	$479,900	$192	33
8449 Jutland Rd Unit A/B	0.72mi	6/2.0	3,189 (+10%)	20mo	$548,800	$172	26

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 · 4.77% rent growth · sell at horizon

5-year hold

• IRR: 24.2%
• Equity multiple: 2.95×
• Total profit: $256,422
• Equity at exit: $423,278

10-year hold

• IRR: 21.9%
• Equity multiple: 6.91×
• Total profit: $777,915
• Equity at exit: $912,815

Cash invested: $131,558 (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 77051

• Home prices YoY: 9.7%
• Rents YoY: 4.8%
• Active inventory: 321
• Price-to-rent: 18.6×

Monthly cashflow live

• Estimated rent: $4,220 high
• Mortgage (P&I): −$2,464
• Tax from tax record: −$789 /mo · $9,466/yr
• Insurance: −$196
• HOA: −$0
• Vacancy / Maint / Mgmt: −$886
• Net cashflow: $-115

Break-even live

Break-even rent $4,365

Max offer price $449,586

Occupancy floor 98%

Sensitivity live

Price	-10% $151	-5% $18	+0% $-115	+5% $-248	+10% $-381
Rent	-10% $-448	-5% $-281	+0% $-115	+5% $52	+10% $219
Rate	-1.0pp $122	-0.5pp $5	base $-115	+0.5pp $-236	+1.0pp $-360

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	4	3	$4,220
Total (2 units)			$4,220

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: $117,462
• Closing costs: $14,096
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-17
   days on market $469,850 Active 29 DOM
2. 2026-06-16
   days on market $469,850 Active 28 DOM
3. 2026-06-15
   days on market $469,850 Active 27 DOM
4. 2026-06-13
   days on market $469,850 Active 25 DOM
5. 2026-06-10
   days on market $469,850 Active 21 DOM
6. 2026-06-08
   days on market $469,850 Active 20 DOM
7. 2026-06-07
   days on market $469,850 Active 19 DOM
8. 2026-06-04
   days on market $469,850 Active 16 DOM
9. 2026-06-01
   days on market $469,850 Active 13 DOM
10. 2026-05-31
    days on market $469,850 Active 12 DOM
11. 2026-05-19
    listed $469,850 Active 738-char remark
12. 2026-05-14
    historical
13. 2026-05-01
    historical $2,199
14. 2026-04-04
    price $479,850
15. 2026-02-21
    price $2,199
16. 2026-02-20
    listed $2,300
17. 2026-02-13
    price $488,497
18. 2026-01-17
    listed $498,500 Active
19. 2025-09-07
    historical $2,195
20. 2025-07-15
    price $2,195
21. 2025-07-08
    listed $2,300
22. 2025-07-08
    historical $2,300
23. 2025-07-01
    listed $2,300
24. 2025-06-30
    historical $2,300
25. 2025-06-20
    listed $2,300
26. 2025-05-31
    historical
27. 2025-05-19
    price $529,000
28. 2025-03-25
    price $547,857
29. 2025-03-25
    listed $457,856 Active
30. 2025-03-25
    historical
31. 2025-03-25
    historical
32. 2025-03-25
    historical
33. 2023-10-30
    soldstatus Sold
34. 2023-10-08
    status Pending
35. 2023-09-26
    status Option Pending
36. 2023-09-15
    listed $480,000 Active
37. 2023-09-11
    historical
38. 2023-09-05
    price $480,000
39. 2023-09-05
    status Active
40. 2023-07-21
    historical
41. 2023-07-07
    status Active
42. 2023-07-05
    status Pending
43. 2023-06-27
    status Option Pending
44. 2023-06-20
    price $440,000
45. 2023-06-04
    price $450,000
46. 2023-05-18
    price $465,000
47. 2023-05-18
    status Active
48. 2023-05-14
    status Pending
49. 2023-05-03
    status Option Pending
50. 2023-04-29
    price $489,000

ⓘ 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: $9,466 · $789/mo
• Projected year-2 tax: $9,466 · $789/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $50,640
• − Mortgage interest: −$26,319
• − Property taxes: −$9,466
• − Insurance: −$2,349
• − Repairs & maintenance: −$4,051
• − Management: −$4,051
• − Depreciation: −$13,668
• Taxable loss: −$9,264
• Est. tax savings @ 24.0%: +$2,223
• After-tax cash flow: $847/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.

Condition & rehab AI · 6 photos

Good 80/100 Cosmetic rehab

This well-maintained and modern two-unit property is ready for immediate occupancy and offers excellent potential for rental income or resale.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhances curb appeal and adds value to the property.
• Resale Kitchen appliances maintenance — Keeps the kitchen in top condition for potential buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value to the property. ↑
• Resale Kitchen appliances maintenance — Keeps the kitchen in top condition for potential buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 19,795
• Household income: $37,415
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 1446.0

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 Black (77%)
• Race & ethnicity: Black 77% Hispanic / Latino 16% Two or more races 11% White 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 10%

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: ▲ 16.02%
• Current HPI: 180.4283
• Rent YoY: ▲ 4.77%
• 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

+531.9% since first listed

52 events — show timeline

• 2026-06-14 Listing Removed — HARMLS
• 2026-05-19 Listed $469,850 HARMLS
• 2026-05-14 Listing Removed — HARMLS
• 2026-05-01 Rental Removed $2,199 HARMLS
• 2026-04-04 Price Changed $479,850 HARMLS
• 2026-02-21 Price Changed $2,199 HARMLS
• 2026-02-20 Listed for Rent $2,300 HARMLS
• 2026-02-13 Price Changed $488,497 HARMLS
• 2026-01-17 Listed $498,500 HARMLS
• 2025-09-07 Rental Removed $2,195 HARMLS
• 2025-07-15 Price Changed $2,195 HARMLS
• 2025-07-08 Listed for Rent $2,300 HARMLS
• 2025-07-08 Rental Removed $2,300 APPFOLIO
• 2025-07-01 Listed for Rent $2,300 APPFOLIO
• 2025-06-30 Rental Removed $2,300 HARMLS
• 2025-06-20 Listed for Rent $2,300 HARMLS
• 2025-05-31 Listing Removed — HARMLS
• 2025-05-19 Price Changed $529,000 HARMLS
• 2025-03-25 Price Changed $547,857 HARMLS
• 2025-03-25 Listed $457,856 HARMLS
• 2025-03-25 Coming Soon — HARMLS
• 2025-03-25 Listing Removed — HARMLS
• 2025-03-25 Coming Soon — HARMLS
• 2023-10-30 Sold (MLS) — HARMLS
• 2023-10-08 Pending — HARMLS
• 2023-09-26 Pending — HARMLS
• 2023-09-15 Listed $480,000 HARMLS
• 2023-09-11 Listing Removed — HARMLS
• 2023-09-05 Price Changed $480,000 HARMLS
• 2023-09-05 Relisted — HARMLS
• 2023-07-21 Listing Removed — HARMLS
• 2023-07-07 Relisted — HARMLS
• 2023-07-05 Pending — HARMLS
• 2023-06-27 Pending — HARMLS
• 2023-06-20 Price Changed $440,000 HARMLS
• 2023-06-04 Price Changed $450,000 HARMLS
• 2023-05-18 Price Changed $465,000 HARMLS
• 2023-05-18 Relisted — HARMLS
• 2023-05-14 Pending — HARMLS
• 2023-05-03 Pending — HARMLS
• 2023-04-29 Price Changed $489,000 HARMLS
• 2023-04-07 Price Changed $500,000 HARMLS
• 2023-03-31 Price Changed $515,000 HARMLS
• 2023-03-17 Price Changed $530,000 HARMLS
• 2022-09-20 Listed $540,000 HARMLS
• 2021-04-21 Sold (Public Records) — Public Records
• 2021-04-21 Sold (MLS) — HARMLS
• 2021-04-20 Pending — HARMLS
• 2021-01-04 Price Changed $64,000 HARMLS
• 2020-12-14 Price Changed $69,450 HARMLS
• 2020-11-17 Listed $74,350 HARMLS
• 2020-07-29 Sold (Public Records) — Public Records

Property tax history

+11.1%/yr

Latest (2025): $9,466 · +2.2% YoY. Source: county tax records.