2305 Elysian St · Houston, TX 77026

$138,000

3 bd · 1.0 ba · 1,049 sqft · SingleFamily public records · 25 Days on market

Built 1941 3,998 sqft lot $132/sqft · 39% below area Est $226k · 39% under ↓ 48% 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 +24.3/30.0
• ARV discount +15.0/15.0
• 1% rule +8.2/10.0
• DSCR +7.8/10.0
• Appreciation +6.9/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks

Strictly sold at LOT VALUE. INNER CITY GEM SUPER CLOSE TO THE HEART OF DOWNTOWN, WASHINGTON HEIGHTS, AND GREATER HEIGHTS. This is a 1940s charm that requires renovation to be restored to its original beauty. The home sits on a 4,000 square foot lot that is not located in a flood plain.

Key facts

• Heart of downtown
• Requires renovation
• Inner city gem

Tags

• INNER CITY GEM
• HEART OF DOWNTOWN
• REQUIRES RENOVATION
• NOT LOCATED IN FLOOD PLAIN

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 1941
• Construction: Block and slab foundation; Construction materials: Unknown
• Exterior features: Cleared lot

Interior

• Bedrooms: Primary bedroom on the third floor (8x10); Bedroom on the second floor (8x10); Bedroom on the first floor (8x10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Electric cooling; Gas cooling
• Interior features: 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $138k.

Deal economics

• At list price, monthly cash flow is $277 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $136k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% 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: 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: Marshall Middle (math 14% / reading 22%, grade F, #1,491 of 1,662 statewide, top 91%, 607 students, 97% FRL); Northside H S (math 15% / reading 26%, grade F, #1,389 of 1,632 statewide, top 86%, 1,168 students, 94% FRL) — zoned schools average 95% FRL vs 71% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.1%/yr); 448 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $6k of equity ($954 loan paydown + $5k appreciation (3.9% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.9% appreciation + 3.1% rent growth), your $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1941 — 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 $135,930 (1.5% below list)

Questions for the listing agent

1. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 1.32% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.61%
• DSCR: 1.38
• GRM: 6.3

CMA / ARV

• ARV (median comp): $225,680
• List price: $138,000
• Delta: -37.97%
• 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
2112 Terry St	0.18mi	3/1.0	1,132 (+8%)	2mo	$119,500	$106	77
1912 Semmes St	0.30mi	2/1.0 (-1)	1,104 (+5%)	2mo	$65,000	$59	70
2604 Cochran St	0.35mi	2/1.0 (-1)	1,048 (-0%)	12mo	$305,000	$291	68
1409 Morris St	0.20mi	3/3.0	1,148 (+9%)	0mo	$315,000	$274	67
1816 Mckee St	0.33mi	3/1.0	1,170 (+12%)	5mo	$200,000	$171	62
3411 Terry St	0.65mi	3/1.0	1,078 (+3%)	6mo	$250,000	$232	60
2711 Maury St	0.23mi	2/2.5 (-1)	1,118 (+7%)	11mo	$209,950	$188	58
2602 Atlantic St	0.74mi	2/1.0 (-1)	1,108 (+6%)	4mo	$95,000	$86	48
3406 Gano St	0.67mi	4/2.0 (+1)	1,117 (+6%)	2mo	$199,000	$178	47
2710 Stevens St	0.58mi	3/2.0	1,168 (+11%)	7mo	$203,900	$175	44
2309 Chestnut St	0.67mi	2/1.0 (-1)	1,192 (+14%)	3mo	$225,000	$189	38
3053 Noble St	0.73mi	2/1.0 (-1)	1,200 (+14%)	1mo	$64,497	$54	36

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

Projected returns pro-forma

3.89% appreciation · 3.08% rent growth · sell at horizon

5-year hold

• IRR: 17.8%
• Equity multiple: 2.07×
• Total profit: $41,217
• Equity at exit: $69,105

10-year hold

• IRR: 18.7%
• Equity multiple: 3.96×
• Total profit: $114,519
• Equity at exit: $112,343

Cash invested: $38,640 (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 77026

• Home prices YoY: 1.5%
• Rents YoY: 3.1%
• Active inventory: 448
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,815 high
• Mortgage (P&I): −$724
• Tax from tax record: −$375 /mo · $4,505/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $277

Break-even live

Break-even rent $1,464

Max offer price $138,000

Occupancy floor 80%

Sensitivity live

Price	-10% $355	-5% $316	+0% $277	+5% $238	+10% $199
Rent	-10% $134	-5% $206	+0% $277	+5% $349	+10% $421
Rate	-1.0pp $347	-0.5pp $312	base $277	+0.5pp $242	+1.0pp $205

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: $34,500
• Closing costs: $4,140
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2209 Gano St Unit 3 Houston, TX	2.0	1.0	700	$1,200	$1.71	44d	1	0.25mi
2209 Gano St Unit 4 Houston, TX	2.0	1.0	700	$1,250	$1.79	44d	1	0.25mi
1714 Mary St Houston, TX	2.0	2.0	1100	$2,400	$2.18	44d	1	0.49mi
1550 Burnett St Houston, TX	1.0–2.0	1.0–2.0	877	$2,108	$2.40	0d	37	0.68mi
1550 Leona St Houston, TX	1.0–2.0	1.0–2.0	835	$1,905	$2.28	2d	19	0.69mi
1550 Leona St Unit 1587 Houston, TX	2.0	2.0	1131	$1,942	$1.72	44d	1	0.73mi
1250 Leona St Houston, TX	2.0	1.0–2.0	885	$1,990	$2.25	0d	14	0.76mi
2016 N Main St Houston, TX	2.0	2.0	1169	$2,200	$1.88	44d	1	0.76mi
3031 Sumpter St Unit 50 Houston, TX	2.0	1.0	732	$1,200	$1.64	25d	1	0.77mi
2310 N Main St Houston, TX	2.0	2.0	997	$1,687	$1.69	44d	1	0.78mi
1514 Everett St Houston, TX	2.0	1.0	970	$1,840	$1.90	20d	1	0.78mi
1725 N Main St Houston, TX	2.0	2.0	988	$2,263	$2.29	44d	1	0.82mi
412 Paschall St Unit 1316398P Houston, TX	3.0	2.0	1130	$4,840	$4.28	13d	1	0.85mi
1625 N Main St Houston, TX	3.0	1.0–3.0	994	$2,354	$2.37	0d	41	0.86mi
914 Bunton St Houston, TX	3.0	2.0	1389	$1,950	$1.40	44d	1	0.87mi
2623 Keene St Houston, TX	2.0	1.0–2.0	965	$3,280	$3.40	17d	44	0.91mi
3502 Campbell St Houston, TX	2.0	1.0	725	$800	$1.10	44d	1	0.97mi
207 Carl St Houston, TX	2.0	2.0	1230	$2,250	$1.83	44d	1	0.98mi
3300 Lyons Ave Unit 304 Houston, TX	4.0	2.0	1393	$1,460	$1.05	44d	1	1.00mi
200 Hogan St Houston, TX	2.0	2.0	1058	$1,904	$1.80	13d	1	1.03mi
306 North St Houston, TX	2.0	1.0	950	$1,150	$1.21	44d	1	1.06mi
1513 Cage St Houston, TX	3.0	2.0	1467	$1,550	$1.06	44d	1	1.10mi
650 McKee St Apt 425 Houston, TX	2.0	2.0	966	$1,674	$1.73	0d	1	1.16mi
650 McKee St Unit 3174 Houston, TX	3.0	2.0	1136	$2,114	$1.86	11d	1	1.16mi
650 McKee St Unit 2174 Houston, TX	2.0	2.0	966	$1,714	$1.77	11d	1	1.16mi
650 McKee St Apt 422 Houston, TX	2.0	2.0	966	$1,690	$1.75	8d	1	1.16mi
650 McKee St Unit 2148 Houston, TX	2.0	2.0	966	$1,715	$1.78	0d	1	1.16mi
650 McKee St Unit 3112 Houston, TX	3.0	2.0	1136	$2,074	$1.83	0d	1	1.16mi
650 McKee St Unit 683 Houston, TX	3.0	2.0	1136	$2,125	$1.87	44d	1	1.16mi
650 McKee St Unit 424 Houston, TX	2.0	2.0	966	$1,690	$1.75	6d	1	1.16mi
650 McKee St Unit 687 Houston, TX	2.0	2.0	966	$1,715	$1.78	44d	1	1.16mi
3730 Lyons Ave Unit 216 Houston, TX	3.0	2.0	1107	$1,300	$1.17	44d	1	1.24mi
6 N Main St Houston, TX	2.0	2.0	1248	$2,453	$1.97	21d	1	1.27mi
6 N Main St Houston, TX	2.0	2.0	1248	$2,453	$1.97	44d	1	1.27mi
91 Jensen Dr Houston, TX	3.0	1.0–2.5	970	$3,420	$3.52	0d	69	1.41mi
91 Jensen Dr Houston, TX	2.0	1.0–2.0	872	$3,094	$3.55	21d	16	1.41mi
1499 Crockett St Houston, TX	2.0	2.0	1062	$2,424	$2.28	25d	1	1.44mi
915 Franklin St Unit ID51118 Houston, TX	2.0	2.0	1342	$2,000	$1.49	44d	1	1.44mi
915 Franklin St Unit 3-324 Houston, TX	2.0	2.0	1158	$2,498	$2.16	44d	1	1.44mi
915 Franklin St Unit 312202 Houston, TX	2.0	2.0	1398	$1,987	$1.42	44d	1	1.44mi

Listing history 50 events

1. 2026-06-21
   days on market $138,000 Active 25 DOM
2. 2026-06-18
   days on market $138,000 Active 22 DOM
3. 2026-06-17
   days on market $138,000 Active 21 DOM
4. 2026-06-16
   days on market $138,000 Active 20 DOM
5. 2026-06-15
   days on market $138,000 Active 19 DOM
6. 2026-06-13
   days on market $138,000 Active 17 DOM
7. 2026-06-09
   days on market $138,000 Active 13 DOM
8. 2026-06-08
   days on market $138,000 Active 12 DOM
9. 2026-06-07
   days on market $138,000 Active 11 DOM
10. 2026-06-04
    days on market $138,000 Active 8 DOM
11. 2026-06-03
    days on market $138,000 Active 7 DOM
12. 2026-06-02
    days on market $138,000 Active 6 DOM
13. 2026-06-01
    days on market $138,000 Active 5 DOM
14. 2026-05-31
    days on market $138,000 Active 4 DOM
15. 2026-05-17
    historical
16. 2026-02-01
    price $140,000
17. 2026-01-17
    listed $150,000 Active
18. 2026-01-04
    historical
19. 2025-12-09
    price $175,000
20. 2025-10-26
    listed $180,000 Active
21. 2025-10-21
    historical
22. 2025-10-05
    price $160,000
23. 2025-09-05
    price $173,000
24. 2025-08-29
    price $176,000
25. 2025-08-24
    price $181,700
26. 2025-08-11
    price $193,000
27. 2025-07-21
    price $195,000
28. 2025-07-16
    price $198,000
29. 2025-07-12
    price $199,000
30. 2025-07-05
    price $200,000
31. 2025-07-03
    price $203,500
32. 2025-06-30
    price $208,500
33. 2025-06-27
    price $209,500
34. 2025-06-19
    price $210,500
35. 2025-06-17
    price $211,500
36. 2025-06-08
    price $212,500
37. 2025-05-31
    price $213,033
38. 2025-05-23
    price $213,533
39. 2025-05-10
    price $214,000
40. 2025-05-02
    listed $217,000 Active
41. 2025-05-02
    historical
42. 2025-04-29
    price $219,599
43. 2025-04-26
    price $220,000
44. 2025-04-20
    price $230,000
45. 2025-04-05
    price $235,000
46. 2025-03-26
    price $240,000
47. 2025-03-20
    price $245,000
48. 2025-03-11
    price $255,000
49. 2025-03-01
    listed $265,000 Active
50. 2025-02-27
    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: $4,505 · $375/mo
• Projected year-2 tax: $4,505 · $375/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) · 20% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,781
• − Mortgage interest: −$7,730
• − Property taxes: −$4,505
• − Insurance: −$690
• − Repairs & maintenance: −$1,742
• − Management: −$1,742
• − Depreciation: −$4,015
• Taxable income: $1,357
• Est. tax owed @ 24.0%: −$326
• After-tax cash flow: $3,002/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): 21,981
• Household income: $39,211
• Rent vs Own: 56.3% rent · 43.7% own
• Severe rent burden: 1531.0

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 0.56)
• Race & ethnicity: Black 49% Hispanic / Latino 44% Two or more races 18% White 5% Native American 1%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 61% English-only · Spanish 39%

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: ▲ 3.89%
• Current HPI: 267.5995
• Rent YoY: ▲ 3.08%
• 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

-47.9% since first listed

41 events — show timeline

• 2026-05-27 Listed $138,000 HARMLS
• 2026-05-17 Listing Removed — HARMLS
• 2026-02-01 Price Changed $140,000 HARMLS
• 2026-01-17 Listed $150,000 HARMLS
• 2026-01-04 Listing Removed — HARMLS
• 2025-12-09 Price Changed $175,000 HARMLS
• 2025-10-26 Listed $180,000 HARMLS
• 2025-10-21 Listing Removed — HARMLS
• 2025-10-05 Price Changed $160,000 HARMLS
• 2025-09-05 Price Changed $173,000 HARMLS
• 2025-08-29 Price Changed $176,000 HARMLS
• 2025-08-24 Price Changed $181,700 HARMLS
• 2025-08-11 Price Changed $193,000 HARMLS
• 2025-07-21 Price Changed $195,000 HARMLS
• 2025-07-16 Price Changed $198,000 HARMLS
• 2025-07-12 Price Changed $199,000 HARMLS
• 2025-07-05 Price Changed $200,000 HARMLS
• 2025-07-03 Price Changed $203,500 HARMLS
• 2025-06-30 Price Changed $208,500 HARMLS
• 2025-06-27 Price Changed $209,500 HARMLS
• 2025-06-19 Price Changed $210,500 HARMLS
• 2025-06-17 Price Changed $211,500 HARMLS
• 2025-06-08 Price Changed $212,500 HARMLS
• 2025-05-31 Price Changed $213,033 HARMLS
• 2025-05-23 Price Changed $213,533 HARMLS
• 2025-05-10 Price Changed $214,000 HARMLS
• 2025-05-02 Listing Removed — HARMLS
• 2025-05-02 Listed $217,000 HARMLS
• 2025-04-29 Price Changed $219,599 HARMLS
• 2025-04-26 Price Changed $220,000 HARMLS
• 2025-04-20 Price Changed $230,000 HARMLS
• 2025-04-05 Price Changed $235,000 HARMLS
• 2025-03-26 Price Changed $240,000 HARMLS
• 2025-03-20 Price Changed $245,000 HARMLS
• 2025-03-11 Price Changed $255,000 HARMLS
• 2025-03-01 Listed $265,000 HARMLS
• 2025-02-27 Sold (Public Records) — Public Records
• 2025-02-12 Sold (Public Records) — Public Records
• 2025-02-11 Sold (Public Records) — Public Records
• 2025-02-06 Sold (Public Records) — Public Records
• 1989-05-11 Sold (Public Records) — Public Records

Property tax history

+11.7%/yr

Latest (2025): $4,505 · +0.5% YoY. Source: county tax records.