2005 Worms St · Houston, TX 77020

$150,000

2 bd · 1.0 ba · 1,318 sqft · SingleFamily public records · 260 Days on market

Built 2007 5,248 sqft lot Est $239k · 37% under ↓ 29% since listing

---

Why this score? — see what drove the A- 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 +27.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.7/10.0
• 1% rule +8.5/10.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks

Charming 4-Bedroom Home in Greater Fifth Ward Welcome to 2005 Worms St—a delightful 4-bedroom, 2-bathroom single-family home nestled in Houston’s historic Greater Fifth Ward. Built in 2007, this 1,318 sq ft residence offers a spacious layout on a generous 5,227 sq ft lot. The home features durable concrete block construction with a slab foundation, ensuring longevity and low maintenance. Inside, enjoy the comfort of central air conditioning and heating, providing year-round climate control. The property’s ample lot size presents opportunities for outdoor activities, gardening, or future expansions. Located just minutes from downtown Houston, residents benefit from easy

Key facts

• 5,248 sq ft lot
• 2 garage spots
• Built 2007

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $451 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 3.1% 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: Fleming Middle (math 10% / reading 15%, grade F, #1,616 of 1,662 statewide, top 97%, 384 students, 97% FRL); Wheatley H S (math 17% / reading 19%, grade F, #1,445 of 1,632 statewide, top 89%, 643 students, 95% FRL) — zoned schools average 96% FRL vs 71% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 31% district-wide (-16 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 (+4.3%/yr); 337 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $2,020/mo this rent would consume 48% of the median local household income ($50k/yr) (locally 969% 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 $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 4.3% rent growth), your $42k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, 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 260 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $132,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 260 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.35% ✓
• Cap rate: 9.90%
• Cash-on-cash: 12.88%
• DSCR: 1.57
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $238,558
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2004 Worms St	0.03mi	2/2.0	1,344 (+2%)	1mo	$259,000	$193	90
1811 Pannell St Unit C	0.14mi	2/2.0	1,381 (+5%)	7mo	$275,000	$199	76
2405 Pannell St	0.28mi	3/1.5 (+1)	1,230 (-7%)	3mo	$99,500	$81	66
3053 Noble St	0.44mi	2/1.0	1,200 (-9%)	1mo	$64,497	$54	64
4214 Quitman St	0.32mi	3/2.0 (+1)	1,128 (-14%)	0mo	$174,999	$155	52
4034 Wylie St	0.56mi	3/2.0 (+1)	1,246 (-6%)	6mo	$194,000	$156	51
4803 Farmer St	0.68mi	2/1.0	1,200 (-9%)	7mo	$140,000	$117	47
3706 Lucille St	0.64mi	3/2.0 (+1)	1,231 (-7%)	7mo	$249,900	$203	44
2111 Davis St	0.70mi	3/2.0 (+1)	1,243 (-6%)	6mo	$175,000	$141	44
2006 Stevens St	0.72mi	3/2.0 (+1)	1,243 (-6%)	6mo	$225,000	$181	43
2710 Jensen Creek Ln	0.73mi	3/2.5 (+1)	1,508 (+14%)	0mo	$299,900	$199	31
3107 Amboy St	0.75mi	3/2.0 (+1)	1,503 (+14%)	6mo	$280,000	$186	28

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 · 4.27% rent growth · sell at horizon

5-year hold

• IRR: 34.4%
• Equity multiple: 3.69×
• Total profit: $113,120
• Equity at exit: $135,132

10-year hold

• IRR: 30.1%
• Equity multiple: 8.53×
• Total profit: $316,317
• Equity at exit: $291,417

Cash invested: $42,000 (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 77020

• Home prices YoY: 29.1%
• Rents YoY: 4.3%
• Active inventory: 337
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $2,020 high
• Mortgage (P&I): −$787
• Tax from tax record: −$296 /mo · $3,549/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$424
• Net cashflow: $451

Break-even live

Break-even rent $1,449

Max offer price $150,000

Occupancy floor 73%

Sensitivity live

Price	-10% $536	-5% $493	+0% $451	+5% $408	+10% $366
Rent	-10% $291	-5% $371	+0% $451	+5% $531	+10% $610
Rate	-1.0pp $526	-0.5pp $489	base $451	+0.5pp $412	+1.0pp $372

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3730 Lyons Ave Unit 216 Houston, TX	3.0	2.0	1107	$1,300	$1.17	44d	1	0.30mi
1513 Cage St Houston, TX	3.0	2.0	1467	$1,550	$1.06	44d	1	0.41mi
4712 Rawley St Unit B Houston, TX	3.0	2.5	1501	$2,045	$1.36	21d	1	0.59mi
4712 Rawley St Unit a Houston, TX	3.0	2.0	1501	$2,070	$1.38	21d	1	0.59mi
1307 Bayou St Unit B Houston, TX	3.0	3.0	1814	$2,400	$1.32	8d	1	0.61mi
1303 Bayou St Unit C Houston, TX	3.0	3.0	1869	$3,200	$1.71	44d	1	0.62mi
1714 Mary St Houston, TX	2.0	2.0	1100	$2,400	$2.18	44d	1	0.89mi
308 Grove St Houston, TX	3.0	3.0	1701	$2,350	$1.38	8d	1	1.01mi
5605 Mulvey St Unit 1019610P Houston, TX	3.0	2.5	1410	$4,931	$3.50	0d	1	1.05mi
2105 Sam Wilson St Houston, TX	3.0	2.5	1416	$6,750	$4.77	44d	1	1.05mi
3503 Wyrick St Houston, TX	3.0	2.5	1746	$2,850	$1.63	44d	1	1.13mi
2704 Sam Wilson St Unit 1391353P Houston, TX	2.0	2.0	1001	$2,082	$2.08	0d	1	1.17mi
1556 Leona St Houston, TX	1.0	1.0	905	$1,505	$1.66	44d	1	1.25mi
1550 Leona St Houston, TX	1.0–2.0	1.0–2.0	835	$1,905	$2.28	2d	19	1.31mi
1550 Leona St Unit 1587 Houston, TX	2.0	2.0	1131	$1,942	$1.72	44d	1	1.36mi
800 Middle St Houston, TX	1.0–4.0	1.0–2.0	1003	$1,320	$1.32	6d	1	1.38mi
91 Jensen Dr Houston, TX	2.0	1.0–2.0	872	$3,094	$3.55	21d	16	1.40mi
91 Jensen Dr Houston, TX	3.0	1.0–2.5	970	$2,713	$2.80	2d	69	1.40mi
1550 Burnett St Houston, TX	1.0–2.0	1.0–2.0	877	$2,108	$2.40	0d	37	1.44mi
1250 Leona St Houston, TX	2.0	1.0–2.0	885	$1,990	$2.25	0d	14	1.45mi
2706 Cochran St Houston, TX	3.0	3.5	1791	$2,700	$1.51	20d	1	1.50mi

Listing history 9 events

1. 2026-02-27
   status Pending
2. 2026-02-27
   status Pending
3. 2026-02-15
   status Pending
4. 2026-02-06
   status Pending
5. 2026-01-28
   price $150,000
6. 2025-10-31
   price $189,500
7. 2025-08-22
   price $200,000
8. 2025-05-30
   listed $210,000 Active
9. 2025-05-30
   historical $210,000

ⓘ 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: $3,549 · $296/mo
• Projected year-2 tax: $3,549 · $296/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 · 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: $24,239
• − Mortgage interest: −$8,402
• − Property taxes: −$3,549
• − Insurance: −$750
• − Repairs & maintenance: −$1,939
• − Management: −$1,939
• − Depreciation: −$4,364
• Taxable income: $3,296
• Est. tax owed @ 24.0%: −$791
• After-tax cash flow: $4,619/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): 23,686
• Household income: $50,119
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 969.0

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 (69%)
• Race & ethnicity: Hispanic / Latino 69% Black 24% Two or more races 22% White 5% Asian 1%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Swiss 1%
• Foreign-born: 23% · Canada
• Languages at home: 39% English-only · Spanish 59% Other Indo-European 1%

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: ▲ 55.64%
• Current HPI: 246.5578
• Rent YoY: ▲ 4.27%
• 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

-28.6% since first listed

9 events — show timeline

• 2026-02-27 Pending — HARMLS
• 2026-02-27 Pending — HARMLS
• 2026-02-15 Pending — HARMLS
• 2026-02-06 Pending — HARMLS
• 2026-01-28 Price Changed $150,000 HARMLS
• 2025-10-31 Price Changed $189,500 HARMLS
• 2025-08-22 Price Changed $200,000 HARMLS
• 2025-05-30 Listed $210,000 HARMLS
• 2025-05-30 Coming Soon $210,000 HARMLS

Property tax history

+2.6%/yr

Latest (2025): $3,549 · +11.7% YoY. Source: county tax records.