2428 Harrington St · Houston, TX 77026

$325,000

3 bd · 3.5 ba · 1,743 sqft · SingleFamily public records · 76 Days on market

Built 2025 Excellent condition 1,938 sqft lot $186/sqft · 13% below area Est $358k · 9% under $100/mo HOA · 4% of rent

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Why this score? — see what drove the D 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).

• ARV discount +11.6/15.0
• Cash flow +6.9/30.0
• Appreciation +6.9/10.0
• Condition / age +4.8/5.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Schools +2.7/10.0
• 1% rule +2.5/10.0
• DSCR +1.1/10.0

Listing remarks MLS

CASH COW INVESTMENT OPPORTUNITY! Welcome to CARR CITY VIEWS! NINE Gorgeous BRAND NEW freestanding homes in a fully gated community located in NORTH DOWNTOWN w/ 3 bedrooms, 3.5 baths. The 2-story floor plan offers a backyard just off the living room, luxury vinyl plank flooring, and OVERSIZED windows throughout! Perfect for entertaining, the gourmet kitchen features stainless steel appliances, quartz countertops, stylish two-tone cabinetry, elegant champagne bronze finishes, and a stunning farmhouse sink. Upstairs boasts a spacious owner’s suite with BIG WINDOWS, a walk-in closet, and an ensuite owner’s bathroom with a soaking tub and upgraded double vanity. Secondary bedrooms also on the 3rd floor WITH bathrooms. Minutes from DOWNTOWN HOUSTON, EAST RIVER, and major dining and entertainment! HOME IS OCCUPIED @ $2,850/MONTH WITH ATLAS MANAGEMENT! ALL APPLIANCES INCLUDED! CALL NOW FOR A PRIVATE TOUR!

Key facts

• 1,938 sq ft lot
• 2 garage spots
• Built 2025

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $325k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-487 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (26.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (24.7% below list).
• Recommended offer: $239k (26.5% below list) — sets the bar for cash-flow.
• Cap rate 4.5% 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: Sherman El (math 22% / reading 22%, grade F, #3,333 of 4,322 statewide, top 80%, 528 students, 99% FRL); Fleming Middle (math 10% / reading 15%, grade F, #1,616 of 1,662 statewide, top 97%, 384 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 97% FRL vs 71% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 18% at this address vs 31% district-wide (-13 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 (+3.1%/yr); 448 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• At $2,447/mo this rent would consume 75% of the median local household income ($39k/yr) (locally 1531% 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 $15k of equity ($2k loan paydown + $13k appreciation (3.9% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($306k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $238,970 (26.5% 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. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
9. 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.
10. 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.
11. 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: 0.75% ✗
• Cap rate: 4.49%
• Cash-on-cash: -6.42%
• DSCR: 0.71
• GRM: 11.1

CMA / ARV

• ARV (median comp): $357,717
• List price: $325,000
• Delta: -9.15%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1913 West St	0.21mi	3/2.5	1,750 (+0%)	0mo	$387,000	$221	85
1715 Mary St	0.11mi	3/3.5	1,877 (+8%)	2mo	$369,900	$197	80
2814 Mills St	0.25mi	3/3.5	1,972 (+13%)	1mo	$389,900	$198	66
2812 Mills St	0.25mi	3/3.5	1,972 (+13%)	1mo	$369,900	$188	66
711 Schwartz St	0.64mi	3/3.5	1,692 (-3%)	2mo	$309,000	$183	64
3605 New Orleans St	0.70mi	3/2.5	1,884 (+8%)	1mo	$374,900	$199	49
3409 Stonewall St	0.63mi	3/2.5	1,969 (+13%)	1mo	$349,900	$178	44
3415 Stonewall St	0.64mi	3/2.5	1,969 (+13%)	1mo	$369,000	$187	44
3209 Baer St Unit A	0.74mi	3/3.5	1,990 (+14%)	1mo	$464,900	$234	41
3209 Baer St Unit B	0.74mi	3/3.5	1,996 (+14%)	1mo	$464,900	$233	40
2710 Jensen Creek Ln	0.71mi	3/2.5	1,508 (-14%)	0mo	$299,900	$199	40
1619 Chapman St	0.52mi	2/1.5 (-1)	1,976 (+13%)	1mo	$299,000	$151	40

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: 4.4%
• Equity multiple: 1.26×
• Total profit: $24,091
• Equity at exit: $162,747

10-year hold

• IRR: 7.3%
• Equity multiple: 2.22×
• Total profit: $111,172
• Equity at exit: $264,576

Cash invested: $91,000 (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: 11.1×

Monthly cashflow live

• Estimated rent: $2,447 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$480 /mo · $5,765/yr
• Insurance: −$135
• HOA: −$100
• Vacancy / Maint / Mgmt: −$514
• Net cashflow: $-487

Break-even live

Break-even rent $3,063

Max offer price $238,970

Occupancy floor —

Sensitivity live

Price	-10% $-303	-5% $-395	+0% $-487	+5% $-579	+10% $-671
Rent	-10% $-680	-5% $-584	+0% $-487	+5% $-390	+10% $-294
Rate	-1.0pp $-323	-0.5pp $-404	base $-487	+0.5pp $-571	+1.0pp $-657

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: $81,250
• Closing costs: $9,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1714 Mary St Houston, TX	2.0	2.0	1100	$2,400	$2.18	45d	1	0.12mi
1307 Bayou St Unit B Houston, TX	3.0	3.0	1814	$2,400	$1.32	9d	1	0.48mi
1550 Leona St Houston, TX	1.0–2.0	1.0–2.0	835	$1,905	$2.28	3d	19	0.49mi
1303 Bayou St Unit C Houston, TX	3.0	3.0	1869	$3,200	$1.71	45d	1	0.49mi
3300 Lyons Ave Unit 304 Houston, TX	4.0	2.0	1393	$1,460	$1.05	45d	1	0.49mi
1550 Leona St Unit 1587 Houston, TX	2.0	2.0	1131	$1,942	$1.72	45d	1	0.54mi
1513 Cage St Houston, TX	3.0	2.0	1467	$1,550	$1.06	45d	1	0.59mi
1550 Burnett St Houston, TX	1.0–2.0	1.0–2.0	877	$2,108	$2.40	0d	36	0.61mi
2905 Baer St Unit 1047953P Houston, TX	3.0	2.5	1991	$2,922	$1.47	0d	1	0.61mi
1250 Leona St Houston, TX	2.0	1.0–2.0	885	$1,990	$2.25	0d	15	0.62mi
611 Sydnor St Houston, TX	3.0	4.0	2157	$2,400	$1.11	45d	1	0.69mi
3730 Lyons Ave Unit 216 Houston, TX	3.0	2.0	1107	$1,300	$1.17	45d	1	0.77mi
650 McKee St Unit 3112 Houston, TX	3.0	2.0	1136	$2,074	$1.83	0d	1	0.78mi
650 McKee St Unit 683 Houston, TX	3.0	2.0	1136	$2,125	$1.87	45d	1	0.78mi
650 McKee St Unit 3174 Houston, TX	3.0	2.0	1136	$2,114	$1.86	12d	1	0.78mi
3410 Baer St Houston, TX	3.0	4.0	2040	$3,500	$1.72	45d	1	0.82mi
3419 Gillespie St Houston, TX	3.0	3.5	2168	$2,300	$1.06	45d	1	0.84mi
308 Grove St Houston, TX	3.0	3.0	1701	$2,350	$1.38	9d	1	0.88mi
91 Jensen Dr Houston, TX	2.0	1.0–2.0	872	$3,094	$3.55	22d	16	0.88mi
91 Jensen Dr Houston, TX	3.0	1.0–2.5	970	$3,420	$3.52	0d	67	0.88mi
2706 Cochran St Houston, TX	3.0	3.5	1791	$2,700	$1.51	21d	1	0.96mi
1625 N Main St Houston, TX	3.0	1.0–3.0	994	$2,354	$2.37	0d	41	0.96mi
4109 Hare St Unit A Houston, TX	4.0	2.5	1913	$6,950	$3.63	45d	1	1.02mi
4109 Hare St Unit 1019559P Houston, TX	4.0	2.5	1905	$6,852	$3.60	9d	1	1.02mi
2115 Runnels St Houston, TX	2.0	2.0	1053	$1,775	$1.69	45d	1	1.04mi
2115 Runnels St Unit 3187 Houston, TX	3.0	2.0	1839	$3,005	$1.63	0d	1	1.05mi
2115 Runnels St Unit 2148 Houston, TX	3.0	2.0	1839	$3,045	$1.66	13d	1	1.05mi
2115 Runnels St Unit 3174 Houston, TX	3.0	2.0	1839	$3,056	$1.66	13d	1	1.05mi
2115 Runnels St Unit 3174 Houston, TX	3.0	2.0	1839	$3,056	$1.66	0d	1	1.05mi
2016 N Main St Houston, TX	2.0	2.0	1169	$2,200	$1.88	45d	1	1.05mi
6 N Main St Houston, TX	2.0	2.0	1248	$2,453	$1.97	45d	1	1.08mi
6 N Main St Houston, TX	2.0	2.0	1248	$2,453	$1.97	22d	1	1.08mi
4300 Lyons Ave Unit 304 Houston, TX	4.0	2.0	1393	$1,460	$1.05	45d	1	1.09mi
410 James St Unit 1031793P Houston, TX	3.0	2.0	1593	$5,668	$3.56	0d	1	1.10mi
410 James St Houston, TX	3.0	2.0	1602	$6,750	$4.21	45d	1	1.10mi
412 Paschall St Unit 1316398P Houston, TX	3.0	2.0	1130	$4,840	$4.28	14d	1	1.14mi
2315 Navigation Blvd Houston, TX	1.0–2.0	1.0–2.5	943	$3,500	$3.71	0d	62	1.15mi
800 Middle St Houston, TX	1.0–4.0	1.0–2.0	1003	$1,593	$1.59	7d	1	1.16mi
10 Crawford St Houston, TX	2.0	1.0–2.0	813	$2,265	$2.79	4d	168	1.16mi
15 N Chenevert St Houston, TX	2.0	1.0–2.0	1351	$4,000	$2.96	0d	16	1.17mi

HOA detail

• Monthly dues: $100 · $1,200/yr
• Likely covers: security

Listing history 13 events

1. 2026-06-21
   days on market $325,000 Active 76 DOM
2. 2026-06-18
   days on market $325,000 Active 73 DOM
3. 2026-06-17
   days on market $325,000 Active 72 DOM
4. 2026-06-16
   days on market $325,000 Active 71 DOM
5. 2026-06-15
   days on market $325,000 Active 70 DOM
6. 2026-06-13
   days on market $325,000 Active 68 DOM
7. 2026-06-10
   days on market $325,000 Active 64 DOM
8. 2026-06-08
   days on market $325,000 Active 63 DOM
9. 2026-06-07
   days on market $325,000 Active 62 DOM
10. 2026-06-04
    days on market $325,000 Active 59 DOM
11. 2026-06-01
    days on market $325,000 Active 56 DOM
12. 2026-05-31
    days on market $325,000 Active 55 DOM
13. 2026-04-06
    listed $325,000 Active 922-char remark

    Show marketing remark (922 chars)

    CASH COW INVESTMENT OPPORTUNITY! Welcome to CARR CITY VIEWS! NINE Gorgeous BRAND NEW freestanding homes in a fully gated community located in NORTH DOWNTOWN w/ 3 bedrooms, 3.5 baths. The 2-story floor plan offers a backyard just off the living room, luxury vinyl plank flooring, and OVERSIZED windows throughout! Perfect for entertaining, the gourmet kitchen features stainless steel appliances, quartz countertops, stylish two-tone cabinetry, elegant champagne bronze finishes, and a stunning farmhouse sink. Upstairs boasts a spacious owner’s suite with BIG WINDOWS, a walk-in closet, and an ensuite owner’s bathroom with a soaking tub and upgraded double vanity. Secondary bedrooms also on the 3rd floor WITH bathrooms. Minutes from DOWNTOWN HOUSTON, EAST RIVER, and major dining and entertainment! HOME IS OCCUPIED @ $2,850/MONTH WITH ATLAS MANAGEMENT! ALL APPLIANCES INCLUDED! CALL NOW FOR A PRIVATE TOUR!

ⓘ 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: $5,765 · $480/mo
• Projected year-2 tax: $5,948 · $496/mo
• Expected delta: +$183/yr (+$15/mo · 3.2%)

ⓘ 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) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 21 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: $29,364
• − Mortgage interest: −$18,205
• − Property taxes: −$5,765
• − Insurance: −$1,625
• − Repairs & maintenance: −$2,349
• − Management: −$2,349
• − HOA: −$1,200
• − Depreciation: −$9,455
• Taxable loss: −$11,583
• Est. tax savings @ 24.0%: +$2,780
• After-tax cash flow: $-3,064/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 · 3 photos

Excellent 95/100 None rehab

This brand-new single-family home in a fully gated community offers modern amenities and a move-in-ready condition, making it an excellent investment opportunity.

Value-add opportunities

• Both Landscaping improvements — Enhanced curb appeal and increased property value.
• Both Add smart home features — Modernizes the home and attracts tech-savvy buyers/renters.
• Both Install smart thermostat — Saves energy and appeals to eco-conscious buyers/renters.
• Both Add smart lighting system — Enhances home's ambiance and energy efficiency.
• Both Install smart security system — Enhances safety and attracts buyers/renters who value security.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhanced curb appeal and increased property value. ↑
• Both Add smart home features — Modernizes the home and attracts tech-savvy buyers/renters. ↑
• Both Install smart thermostat — Saves energy and appeals to eco-conscious buyers/renters. ↑
• Both Add smart lighting system — Enhances home's ambiance and energy efficiency. ↑
• Both Install smart security system — Enhances safety and attracts buyers/renters who value security. ↑

ⓘ 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): 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

1 event — show timeline

• 2026-04-06 Listed $325,000 HARMLS

Property tax history

+226.8%/yr

Latest (2025): $5,765 · +928.4% YoY. Source: county tax records.