2503 Milwaukee St · Houston, TX 77026

$95,000

2 bd · 1.0 ba · 948 sqft · SingleFamily public records · 54 Days on market

Built 1935 6,298 sqft lot $100/sqft · 44% below area Est $169k · 44% under

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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 +26.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.8/10.0
• 1% rule +7.9/10.0
• 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 MLS

Charming 2-bedroom, 1-bath home offering 948 sq ft of comfortable living space. The property features a remodeled kitchen and updated plumbing, providing a solid foundation for both homeowners and investors. HVAC system is approximately 10 years old. This home presents a great opportunity with strong rental potential and room for additional value through light cosmetic updates. Conveniently located with easy access to major roads, shopping, and local amenities. Property is being sold as-is.

Key facts

• Remodeled kitchen
• Local amenities
• Updated plumbing

Tags

• REMODELED KITCHEN
• UPDATED PLUMBING
• STRONG RENTAL POTENTIAL
• EASY ACCESS TO MAJOR ROADS
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: Ross El (math 22% / reading 27%, grade F, #3,052 of 4,322 statewide, top 74%, 271 students, 95% FRL); Key Middle (math 10% / reading 20%, grade F, #1,569 of 1,662 statewide, top 95%, 615 students, 100% 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 96% FRL vs 71% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+3.1%/yr); 448 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals lingering (median 46d 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).
• This rent runs 38% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($657 loan paydown + $4k 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 $27k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 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 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.29% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.88%
• DSCR: 1.48
• GRM: 6.4

CMA / ARV

• ARV (median comp): $169,034
• List price: $95,000
• Delta: -43.80%
• 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
5710 Cherry St	0.16mi	2/1.0	1,039 (+10%)	1mo	$159,000	$153	76
1715 Woodard St	0.27mi	2/1.0	841 (-11%)	15mo	$200,000	$238	56
1110 English St	0.62mi	2/1.0	900 (-5%)	11mo	$234,980	$261	54
5610 Chapman St	0.46mi	2/2.0	1,013 (+7%)	14mo	$350,000	$346	52
1017 Canadian St	0.72mi	2/1.0	856 (-10%)	3mo	$230,000	$269	48
1908 Melbourne St	0.50mi	3/1.0 (+1)	902 (-5%)	19mo	$129,900	$144	48
5619 Chapman St	0.48mi	3/1.0 (+1)	1,020 (+8%)	17mo	$167,000	$164	46
4600 Terry St	0.66mi	2/1.0	1,008 (+6%)	17mo	$214,900	$213	45
1308 Tarley St	0.49mi	2/1.0	812 (-14%)	13mo	$150,000	$185	42
3012 Melbourne St	0.63mi	3/1.0 (+1)	1,075 (+13%)	4mo	$169,000	$157	40
2908 Woodard St	0.38mi	3/1.0 (+1)	1,074 (+13%)	24mo	$70,000	$65	35

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: 19.8%
• Equity multiple: 2.19×
• Total profit: $31,530
• Equity at exit: $47,572

10-year hold

• IRR: 20.4%
• Equity multiple: 4.22×
• Total profit: $85,529
• Equity at exit: $77,338

Cash invested: $26,600 (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: 6.4×

Monthly cashflow live

• Estimated rent: $1,229 high
• Mortgage (P&I): −$498
• Tax from tax record: −$192 /mo · $2,305/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $241

Break-even live

Break-even rent $924

Max offer price $95,000

Occupancy floor 75%

Sensitivity live

Price	-10% $295	-5% $268	+0% $241	+5% $214	+10% $187
Rent	-10% $144	-5% $193	+0% $241	+5% $290	+10% $338
Rate	-1.0pp $289	-0.5pp $265	base $241	+0.5pp $217	+1.0pp $191

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2110 Melbourne St Unit 3 Houston, TX	2.0	1.0	825	$1,350	$1.64	26d	1	0.46mi
3107 Melbourne St Houston, TX	3.0	1.0	956	$1,500	$1.57	45d	1	0.66mi
6869 Arto St Houston, TX	1.0–2.0	1.0	900	$950	$1.06	18d	6	0.80mi
3919 Elysian St Unit 4 Houston, TX	1.0	1.0	650	$1,250	$1.92	45d	1	0.97mi
814 Frawley St Houston, TX	1.0	1.0	525	$1,029	$1.96	45d	1	1.01mi
1710 Shelby St Houston, TX	2.0	1.0	688	$1,250	$1.82	45d	1	1.01mi
7301 Jensen Dr Apt 12 Houston, TX	2.0	1.0	880	$930	$1.06	9d	1	1.07mi
7301 Jensen Dr Unit 50 Houston, TX	2.0	1.0	880	$999	$1.14	9d	1	1.07mi
3816 Gano St Unit B Houston, TX	1.0	1.0	700	$1,150	$1.64	45d	1	1.11mi
7320 Jensen Dr Houston, TX	1.0–3.0	1.0–2.0	935	$1,010	$1.08	3d	5	1.13mi
4111 Cavalcade St Unit 5 Houston, TX	2.0	1.0	757	$825	$1.09	45d	1	1.19mi
6918 Irvington Blvd Houston, TX	2.0	2.0	1100	$1,550	$1.41	45d	1	1.20mi
7506 Jensen Dr Houston, TX	1.0–2.0	1.0–2.0	801	$1,285	$1.60	0d	18	1.23mi
4203 Hirsch Rd Unit 13 Houston, TX	2.0	1.0	758	$975	$1.29	0d	1	1.37mi
4203 Hirsch Rd Unit 5 Houston, TX	2.0	1.0	758	$950	$1.25	45d	1	1.37mi
207 Lindale St Unit 1316403P Houston, TX	2.0	1.0	1119	$3,187	$2.85	1d	1	1.50mi

Listing history 9 events

1. 2026-06-10
   days on market $95,000 Active 54 DOM
2. 2026-06-08
   days on market $95,000 Active 53 DOM
3. 2026-06-07
   days on market $95,000 Active 52 DOM
4. 2026-06-04
   days on market $95,000 Active 49 DOM
5. 2026-06-01
   days on market $95,000 Active 46 DOM
6. 2026-05-31
   days on market $95,000 Active 45 DOM
7. 2026-04-16
   listed $95,000 Active 501-char remark

   Show marketing remark (501 chars)

   Charming 2-bedroom, 1-bath home offering 948 sq ft of comfortable living space. The property features a remodeled kitchen and updated plumbing, providing a solid foundation for both homeowners and investors. HVAC system is approximately 10 years old. This home presents a great opportunity with strong rental potential and room for additional value through light cosmetic updates. Conveniently located with easy access to major roads, shopping, and local amenities. Property is being sold as-is.

8. 2001-01-01
   soldstatus
9. 1996-09-03
   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: $2,305 · $192/mo
• Projected year-2 tax: $2,305 · $192/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 · 23 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: $14,750
• − Mortgage interest: −$5,321
• − Property taxes: −$2,305
• − Insurance: −$475
• − Repairs & maintenance: −$1,180
• − Management: −$1,180
• − Depreciation: −$2,764
• Taxable income: $1,524
• Est. tax owed @ 24.0%: −$366
• After-tax cash flow: $2,528/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

3 events — show timeline

• 2026-04-16 Listed $95,000 HARMLS
• 2001-01-01 Sold (Public Records) — Public Records
• 1996-09-03 Sold (Public Records) — Public Records

Property tax history

+12.4%/yr

Latest (2025): $2,305 · +21.9% YoY. Source: county tax records.