817 Church St · Crosby, TX 77532

$249,000

4 bd · 2.0 ba · 2,136 sqft · MultiFamily public records · 115 Days on market

Built 1950 5,979 sqft lot $117/sqft · 11% above area Est $225k · 11% over

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Why this score? — see what drove the C+ 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.9/5.0
• ARV discount +2.7/15.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Income producing Duplex located in Old Town Crosby across from fairgrounds. The front unit is a 3/1, The back unit is a 2/1.  The owner pays water approximately $100. per month. Being sold "as is" The Photos are of the 2/1 unit

Key facts

• Front unit
• Back unit
• Old town crosby

Tags

• INCOME PRODUCING DUPLEX
• OLD TOWN CROSBY
• ACROSS FROM FAIRGROUNDS
• FRONT UNIT
• BACK UNIT

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $249k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $640/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $249k).
• Recommended offer: $227k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.5% vs local median 4.8% in Crosby — 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 59/100 on livability (#1,121 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: schools D, amenities F, commute F.
• Crosby ISD (rural): math 39% / reading 40% proficiency, ranked #369 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.5%/yr); 1188 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,755/mo this rent would consume 49% of the median local household income ($92k/yr) (locally 382% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 1.5% rent growth), your $70k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($227k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y ago 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 1950 — 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 $226,590 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.51% ✓
• Cap rate: 12.46%
• Cash-on-cash: 22.03%
• DSCR: 1.98
• GRM: 5.5

CMA / ARV

• ARV (median comp): $225,000
• List price: $249,000
• Delta: 10.67%
• Verdict: OVERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.48% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.51×
• Total profit: $35,550
• Equity at exit: $37,127

10-year hold

• IRR: 20.7%
• Equity multiple: 2.63×
• Total profit: $113,555
• Equity at exit: $21,529

Cash invested: $69,720 (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 77532

• Home prices YoY: -28.6%
• Rents YoY: 1.5%
• Active inventory: 1188
• Price-to-rent: 11.1×

Monthly cashflow live

• Estimated rent: $3,755 medium
• Mortgage (P&I): −$1,306
• Tax from tax record: −$277 /mo · $3,324/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$789
• Net cashflow: $1,280

Break-even live

Break-even rent $2,135

Max offer price $249,000

Occupancy floor 61%

Sensitivity live

Price	-10% $1,421	-5% $1,350	+0% $1,280	+5% $1,209	+10% $1,139
Rent	-10% $983	-5% $1,132	+0% $1,280	+5% $1,428	+10% $1,577
Rate	-1.0pp $1,405	-0.5pp $1,343	base $1,280	+0.5pp $1,215	+1.0pp $1,150

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$3,754
Total (2 units)			$3,755

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: $62,250
• Closing costs: $7,470
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6006 Lovage Ave Crosby, TX	4.0	2.5	2261	$2,055	$0.91	21d	1	0.74mi
15722 E Astern Dr Crosby, TX	3.0	2.0	1996	$1,896	$0.95	13d	1	1.20mi

Listing history 20 events

1. 2026-06-04
   days on market $249,000 Active 115 DOM
2. 2026-06-03
   days on market $249,000 Active 114 DOM
3. 2026-06-02
   days on market $249,000 Active 113 DOM
4. 2026-06-01
   days on market $249,000 Active 112 DOM
5. 2026-05-31
   days on market $249,000 Active 111 DOM
6. 2026-03-24
   status Active 247-char remark

   Show marketing remark (247 chars)

   Income producing Duplex located in Old Town Crosby across from fairgrounds. The front unit is a 3/1, The back unit is a 2/1.  The owner pays water approximately $100. per month. Being sold "as is" The Photos are of the 2/1 unit

7. 2026-03-24
   price $249,000 247-char remark

   Show marketing remark (247 chars)

   Income producing Duplex located in Old Town Crosby across from fairgrounds. The front unit is a 3/1, The back unit is a 2/1.  The owner pays water approximately $100. per month. Being sold "as is" The Photos are of the 2/1 unit

8. 2026-03-20
   historical 247-char remark

   Show marketing remark (247 chars)

   Income producing Duplex located in Old Town Crosby across from fairgrounds. The front unit is a 3/1, The back unit is a 2/1.  The owner pays water approximately $100. per month. Being sold "as is" The Photos are of the 2/1 unit

9. 2026-02-05
   listed $260,000 Active 247-char remark

   Show marketing remark (247 chars)

   Income producing Duplex located in Old Town Crosby across from fairgrounds. The front unit is a 3/1, The back unit is a 2/1.  The owner pays water approximately $100. per month. Being sold "as is" The Photos are of the 2/1 unit

10. 2025-06-15
    historical
11. 2025-03-30
    price $229,000
12. 2025-01-21
    price $225,000
13. 2024-12-26
    listed $250,000 Active
14. 2009-08-28
    soldstatus
15. 2009-07-23
    historical
16. 2009-06-12
    listed $44,900
17. 2009-06-10
    historical
18. 2008-10-03
    listed $59,900
19. 2005-10-20
    soldstatus
20. 2001-06-01
    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: $3,324 · $277/mo
• Projected year-2 tax: $4,557 · $380/mo
• Expected delta: +$1,233/yr (+$103/mo · 37.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°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: $45,060
• − Mortgage interest: −$13,948
• − Property taxes: −$3,324
• − Insurance: −$1,245
• − Repairs & maintenance: −$3,605
• − Management: −$3,605
• − Depreciation: −$7,244
• Taxable income: $12,090
• Est. tax owed @ 24.0%: −$2,902
• After-tax cash flow: $12,458/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: Crosby ISD
• NCES district ID: 4815750
• Math proficiency: 39% ▼ -13.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $61,079
• Composite: 35.14/100
• National rank: #5012
• State rank: #369 of 826 in TX

Livability — Crosby

• Score: 59/100
• State rank: #1121
• US rank: #19783

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment F Housing A Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Crosby, TX
• County: Harris County · 4,702,590 people
• City population: 33,780
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 33,780
• Household income: $92,201
• Rent vs Own: 13.9% rent · 86.1% own
• Severe rent burden: 382.0

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 0.60)
• Race & ethnicity: White 54% Hispanic / Latino 31% Two or more races 16% Black 9%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 4% Romanian 3% Italian 2%
• Foreign-born: 10% · Canada
• Languages at home: 78% English-only · Spanish 21%

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: ▼ -105.63%
• Current HPI: 264.0126
• Rent YoY: ▲ 1.48%
• 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

+315.7% since first listed

15 events — show timeline

• 2026-03-24 Relisted — HARMLS
• 2026-03-24 Price Changed $249,000 HARMLS
• 2026-03-20 Listing Removed — HARMLS
• 2026-02-05 Listed $260,000 HARMLS
• 2025-06-15 Listing Removed — HARMLS
• 2025-03-30 Price Changed $229,000 HARMLS
• 2025-01-21 Price Changed $225,000 HARMLS
• 2024-12-26 Listed $250,000 HARMLS
• 2009-08-28 Sold (MLS) — HARMLS
• 2009-07-23 Listing Removed — HARMLS
• 2009-06-12 Listed $44,900 HARMLS
• 2009-06-10 Listing Removed — HARMLS
• 2008-10-03 Listed $59,900 HARMLS
• 2005-10-20 Sold (Public Records) — Public Records
• 2001-06-01 Sold (Public Records) — Public Records

Property tax history

+7.3%/yr

Latest (2025): $3,324 · -2.6% YoY. Source: county tax records.