4409 Brady St · Houston, TX 77011

$239,900

3 bd · 1.0 ba · 1,170 sqft · MultiFamily public records · 109 Days on market

Built 1935 5,000 sqft lot $205/sqft · 23% below area Est $312k · 23% under ↓ 19% since listing

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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 +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +5.6/30.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.0/10.0
• Rent growth +1.8/5.0
• DSCR +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Conveniently located just minutes from downtown, this 3-bedroom, 1-bathroom home showcases a new HVAC system, updated kitchen with modern appliances, and fresh paint. The property also features new flooring, updated windows, French doors, and an additional room. Built in 1935 on a 5000 square foot corner lot, this charming residence offers a cozy retreat with numerous upgrades. Perfect for those seeking a delightful and convenient home. Contact us today to schedule a showing!

Key facts

• Fresh paint
• Updated windows
• Modern appliances

Tags

• NEW HVAC SYSTEM
• UPDATED KITCHEN
• MODERN APPLIANCES
• FRESH PAINT
• NEW FLOORING
• UPDATED WINDOWS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $240k.

Deal economics

• At list price, monthly cash flow is $-502 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (36.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (30.1% below list).
• Recommended offer: $151k (36.9% below list) — sets the bar for cash-flow.

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: Lantrip El (math 19% / reading 28%, grade F, #3,247 of 4,322 statewide, top 76%, 519 students, 83% FRL); Navarro Middle (math 8% / reading 13%, grade F, #1,639 of 1,662 statewide, top 99%, 547 students, 98% FRL); Austin H S (math 9% / reading 18%, grade F, #1,530 of 1,632 statewide, top 94%, 1,448 students, 97% FRL) — zoned schools average 93% FRL vs 71% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 31% district-wide (-15 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 soft (-2.9%/yr); 161 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 40% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $26k of equity ($2k loan paydown + $24k 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 ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 4 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: 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $151,261 (36.9% 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 109 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 0.70% ✗
• Cap rate: 3.78%
• Cash-on-cash: -8.96%
• DSCR: 0.60
• GRM: 11.9

CMA / ARV

• ARV (median comp): $312,006
• List price: $239,900
• Delta: -23.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 17.2%
• Equity multiple: 2.40×
• Total profit: $93,913
• Equity at exit: $216,121

10-year hold

• IRR: 15.7%
• Equity multiple: 5.36×
• Total profit: $293,149
• Equity at exit: $466,073

Cash invested: $67,172 (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 77011

• Home prices YoY: 30.1%
• Rents YoY: -2.9%
• Active inventory: 161
• Price-to-rent: 11.9×

Monthly cashflow live

• Estimated rent: $1,677 high
• Mortgage (P&I): −$1,258
• Tax from tax record: −$468 /mo · $5,620/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-502

Break-even live

Break-even rent $2,312

Max offer price $151,261

Occupancy floor —

Sensitivity live

Price	-10% $-366	-5% $-434	+0% $-502	+5% $-570	+10% $-638
Rent	-10% $-634	-5% $-568	+0% $-502	+5% $-436	+10% $-369
Rate	-1.0pp $-381	-0.5pp $-441	base $-502	+0.5pp $-564	+1.0pp $-627

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: $59,975
• Closing costs: $7,197
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2 Jenkins St Houston, TX	3.0	2.0	1242	$2,250	$1.81	45d	1	0.13mi
132 N Estelle St Unit 1526930P Houston, TX	2.0	1.0	1076	$1,760	$1.64	9d	1	0.23mi
146 N Milby St Unit 2 Houston, TX	3.0	1.0	1000	$1,375	$1.38	26d	1	0.40mi
4405 Woodside St Unit 1 Houston, TX	2.0	1.0	700	$1,175	$1.68	45d	1	0.59mi
4405 Woodside St Unit 2 Houston, TX	2.0	1.0	750	$1,000	$1.33	45d	1	0.59mi
4405 Woodside St #4 Houston, TX	2.0	1.0	750	$1,250	$1.67	45d	1	0.59mi
4411 Dallas St Houston, TX	2.0	1.0–2.0	734	$2,000	$2.72	1d	14	0.65mi
3530 Harrisburg Blvd Houston, TX	2.0	2.0	1029	$1,678	$1.63	45d	1	0.69mi
4009 Lamar St Unit A Houston, TX	2.0	2.0	1368	$1,699	$1.24	1d	1	0.70mi
5601 Canal St Unit 5658 Houston, TX	2.0	2.0	943	$1,564	$1.66	12d	1	0.72mi
5601 Canal St Unit 424 Houston, TX	2.0	2.0	943	$1,540	$1.63	9d	1	0.73mi
5601 Canal St Unit 2174 Houston, TX	2.0	2.0	943	$1,565	$1.66	0d	1	0.73mi
5601 Canal St Unit 2148 Houston, TX	2.0	2.0	943	$1,524	$1.62	0d	1	0.74mi
4720 Polk St Houston, TX	2.0	1.0	950	$860	$0.91	45d	1	0.77mi
4445 Bell St Unit b Houston, TX	2.0	1.0	920	$1,295	$1.41	18d	1	0.82mi
4952 Polk St Unit 1531100P Houston, TX	1.0–2.0	1.0–2.0	1258	$2,285	$1.82	0d	2	0.83mi
5121 Polk St Unit 1 Houston, TX	2.0	1.0	1300	$1,600	$1.23	26d	1	0.91mi
4309 Pease St Houston, TX	2.0	1.0	700	$1,100	$1.57	45d	1	0.96mi
99 N Delano St Houston, TX	2.0	2.0	1052	$1,311	$1.25	26d	1	0.99mi
800 Middle St Houston, TX	1.0–4.0	1.0–2.0	1003	$1,593	$1.59	7d	1	1.00mi
2806 Commerce St Houston, TX	2.0	2.0	1014	$1,250	$1.23	24d	1	1.00mi
2806 Commerce St Houston, TX	2.0	2.0	1014	$1,250	$1.23	20d	1	1.00mi
6403 Avenue C Unit 1019625P Houston, TX	2.0–8.0	1.0–4.0	1232	$3,836	$3.11	0d	2	1.16mi
5238 Pease St Houston, TX	2.0	1.0	750	$1,350	$1.80	45d	1	1.18mi
2404 Navigation Blvd Unit 424 Houston, TX	2.0	2.0	1309	$2,296	$1.75	7d	1	1.22mi
2404 Navigation Blvd Unit 2441 Houston, TX	2.0	2.0	1309	$2,280	$1.74	0d	1	1.22mi
2404 Navigation Blvd Unit 2187 Houston, TX	2.0	2.0	1309	$2,321	$1.77	0d	1	1.22mi
2404 Navigation Blvd Unit 422 Houston, TX	2.0	2.0	1309	$2,296	$1.75	9d	1	1.22mi
1907 Cullen Blvd Houston, TX	2.0	2.0	950	$1,509	$1.59	20d	1	1.24mi
1907 Cullen Blvd Houston, TX	2.0	2.0	950	$1,509	$1.59	22d	1	1.24mi
2424 Capitol St Houston, TX	2.0	2.0	1210	$1,634	$1.35	45d	1	1.35mi
3448 Coyle St Unit 2162 Houston, TX	2.0	2.0	1024	$944	$0.92	6d	1	1.36mi
3448 Coyle St Unit 510 Houston, TX	3.0	2.0	1151	$1,215	$1.06	18d	1	1.36mi
3448 Coyle St Unit 3174 Houston, TX	3.0	2.0	1151	$1,199	$1.04	0d	1	1.36mi
3448 Coyle St Unit 2174 Houston, TX	2.0	2.0	1024	$928	$0.91	0d	1	1.36mi
3448 Coyle St Unit 421 Houston, TX	2.0	2.0	1024	$944	$0.92	9d	1	1.36mi
2315 Navigation Blvd Houston, TX	1.0–2.0	1.0–2.5	943	$3,500	$3.71	0d	62	1.36mi
2104 Canal St Unit 2165 Houston, TX	2.0	2.0	1052	$1,269	$1.21	0d	1	1.39mi
2104 Canal St Unit 2162 Houston, TX	2.0	2.0	1052	$1,244	$1.18	7d	1	1.39mi
2104 Canal St Unit 2112 Houston, TX	2.0	2.0	1052	$1,228	$1.17	0d	1	1.39mi

Listing history 23 events

1. 2026-06-21
   days on market $239,900 Active 109 DOM
2. 2026-06-18
   days on market $239,900 Active 106 DOM
3. 2026-06-17
   days on market $239,900 Active 105 DOM
4. 2026-06-16
   days on market $239,900 Active 104 DOM
5. 2026-06-15
   days on market $239,900 Active 103 DOM
6. 2026-06-13
   days on market $239,900 Active 101 DOM
7. 2026-06-10
   days on market $239,900 Active 97 DOM
8. 2026-06-08
   days on market $239,900 Active 96 DOM
9. 2026-06-07
   days on market $239,900 Active 95 DOM
10. 2026-06-04
    days on market $239,900 Active 92 DOM
11. 2026-06-01
    days on market $239,900 Active 89 DOM
12. 2026-05-31
    days on market $239,900 Active 88 DOM
13. 2026-03-04
    listed $239,900 Active 480-char remark

    Show marketing remark (480 chars)

    Conveniently located just minutes from downtown, this 3-bedroom, 1-bathroom home showcases a new HVAC system, updated kitchen with modern appliances, and fresh paint. The property also features new flooring, updated windows, French doors, and an additional room. Built in 1935 on a 5000 square foot corner lot, this charming residence offers a cozy retreat with numerous upgrades. Perfect for those seeking a delightful and convenient home. Contact us today to schedule a showing!

14. 2026-03-03
    historical
15. 2026-02-19
    status Active
16. 2026-02-12
    status Pending
17. 2025-09-09
    listed $298,000 Active
18. 2025-08-31
    historical
19. 2025-06-27
    status Active
20. 2025-06-25
    historical
21. 2025-06-11
    historical
22. 2006-03-30
    soldstatus
23. 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: $5,620 · $468/mo
• Projected year-2 tax: $5,620 · $468/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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,120
• − Mortgage interest: −$13,438
• − Property taxes: −$5,620
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − Depreciation: −$6,979
• Taxable loss: −$10,335
• Est. tax savings @ 24.0%: +$2,481
• After-tax cash flow: $-3,541/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): 14,940
• Household income: $50,133
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 655.0

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 Hispanic (88%)
• Race & ethnicity: Hispanic / Latino 88% Two or more races 29% White 7% Black 3%
• Hispanic origin (detail): Mexican 81%
• Foreign-born: 33% · Canada
• Languages at home: 24% English-only · Spanish 76%

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: ▲ 68.18%
• Current HPI: 295.1198
• Rent YoY: ▼ -2.93%
• 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

-19.5% since first listed

11 events — show timeline

• 2026-03-04 Listed $239,900 HARMLS
• 2026-03-03 Listing Removed — HARMLS
• 2026-02-19 Relisted — HARMLS
• 2026-02-12 Pending — HARMLS
• 2025-09-09 Listed $298,000 HARMLS
• 2025-08-31 Listing Removed — HARMLS
• 2025-06-27 Relisted — HARMLS
• 2025-06-25 Listing Removed — HARMLS
• 2025-06-11 Coming Soon — HARMLS
• 2006-03-30 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+10.2%/yr

Latest (2025): $5,620 · +1.5% YoY. Source: county tax records.