4013 Falls St · Houston, TX 77026

$2,200

6 bd · 4.0 ba · 2,451 sqft · MultiFamily public records · 4 Days on market

Built 2024 5,000 sqft lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• Appreciation +6.9/10.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

Introducing a brand-new beautifully designed modern three-bedroom, two-bath duplex located just about 8 mins from Downtown Houston. Perfectly blending luxury with ease, this multiunit home features elegant black marble tile flooring throughout with a nice touch of sleek black granite countertops. The living area is enhanced with decorative wall paneling, creating a stylish and inviting space. The master bedroom includes a spacious walk-in closet and a stunning ensuite bathroom with both a walk-in shower and separate tub for ultimate relaxation. Other features include: washer/dryer connections, built-in security system and all kitchen appliances. This duplex combines comfort, style and convenience, making it an ideal place to call home.

Key facts

• Walk-in closet
• Modern duplex
• Ensuite bathroom

Tags

• MODERN DUPLEX
• BLACK MARBLE TILE FLOORING
• BLACK GRANITE COUNTERTOPS
• DECORATIVE WALL PANELING
• WALK-IN CLOSET
• ENSUITE BATHROOM

Property features AI

Finance

• Other: Two total units
• Financial info: Property type: Residential Income; Tax information available (tax amounts excluded)
• HOA & community: HOA details not provided

Exterior

• Parking: Parking details not provided
• Security: Security details not provided
• Utilities: Utilities details not provided
• Home design: Residential income property; Built in 2024
• Construction: Composition roof; Total building area approximately 2,451
• Exterior features: 5,000 sq ft lot

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Information not provided
• Flooring: Flooring details not provided
• Bathrooms: 4 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Two-unit residential income property
• Laundry & utility: Laundry and utility details not provided

🏷️ Possibly a rental listed for sale. The $2,200 price doesn't fit this home's estimated sale value (~$264,708) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $2k.

Deal economics

• At list price, monthly cash flow is $1k ($17k/yr) — positive. Per door: $704/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $2k).
• Cap rate 1006.8% 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: 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 (+3.1%/yr); 448 active listings in the ZIP; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $2,341/mo this rent would consume 72% 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 $101 of equity ($15 loan paydown + $86 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 $616 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 9 sale attempts since 10y 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: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $2,200

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 106.41% ✓
• Cap rate: 1006.76%
• Cash-on-cash: 3573.09%
• DSCR: 159.98
• GRM: 0.1

CMA / ARV

• ARV (on-the-fly): $264,708
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2915 Crane St Unit A-B	0.50mi	6/4.0	2,780 (+13%)	7mo	$299,000	$108	49
2917 Crane St St Unit C-D	0.49mi	6/4.0	2,780 (+13%)	7mo	$299,000	$108	49

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: —
• Equity multiple: 147.93×
• Total profit: $90,510
• Equity at exit: $1,102

10-year hold

• IRR: —
• Equity multiple: 320.99×
• Total profit: $197,113
• Equity at exit: $1,791

Cash invested: $616 (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: 0.2×

Monthly cashflow live

• Estimated rent: $2,341 high
• Mortgage (P&I): −$12
• Tax est. 1.5%: −$3 /mo · $33/yr
• Insurance: −$1
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$492
• Net cashflow: $1,408

Break-even live

Break-even rent $559

Max offer price $2,200

Occupancy floor 35%

Sensitivity live

Price	-10% $1,409	-5% $1,408	+0% $1,408	+5% $1,407	+10% $1,406
Rent	-10% $1,223	-5% $1,315	+0% $1,408	+5% $1,500	+10% $1,593
Rate	-1.0pp $1,409	-0.5pp $1,408	base $1,408	+0.5pp $1,407	+1.0pp $1,406

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$2,342
Total (2 units)			$2,341

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: $550
• Closing costs: $66
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-06-15
   days on market $2,200 Active 4 DOM
2. 2026-06-13
   remarks 699-char remark
3. 2026-06-13
   listed $2,200 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,092
• − Mortgage interest: −$123
• − Property taxes: −$33
• − Insurance: −$5,130
• − Repairs & maintenance: −$2,247
• − Management: −$2,247
• − Depreciation: −$64
• Taxable income: $18,248
• Est. tax owed @ 24.0%: −$4,379
• After-tax cash flow: $12,512/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

-85.3% since first listed

32 events — show timeline

• 2026-06-11 Listed $2,200 HARMLS
• 2025-03-21 Rental Removed $1,925 HARMLS
• 2025-03-12 Listed for Rent $1,925 HARMLS
• 2024-12-11 Sold (Public Records) — Public Records
• 2024-12-10 Sold (MLS) — HARMLS
• 2024-11-11 Pending — HARMLS
• 2024-11-04 Pending — HARMLS
• 2024-10-31 Listed $420,000 HARMLS
• 2023-11-01 Sold (Public Records) — Public Records
• 2023-10-23 Sold (Public Records) — Public Records
• 2023-10-11 Listing Removed — HARMLS
• 2023-08-30 Listed $75,000 HARMLS
• 2020-07-21 Sold (Public Records) — Public Records
• 2020-07-17 Sold (MLS) — HARMLS
• 2020-06-29 Pending — HARMLS
• 2020-03-31 Relisted — HARMLS
• 2020-02-25 Pending — HARMLS
• 2020-02-13 Pending — HARMLS
• 2020-01-12 Listed $34,900 HARMLS
• 2019-05-31 Listing Removed — HARMLS
• 2018-08-07 Listed $29,995 HARMLS
• 2017-06-20 Listing Removed — HARMLS
• 2017-06-07 Listed $19,900 HARMLS
• 2016-10-14 Sold (Public Records) — Public Records
• 2016-10-12 Sold (Public Records) — Public Records
• 2016-10-11 Sold (MLS) — HARMLS
• 2016-09-02 Pending — HARMLS
• 2016-08-06 Price Changed $9,998 HARMLS
• 2016-07-23 Price Changed $13,995 HARMLS
• 2016-05-26 Listed $14,995 HARMLS
• 2012-04-20 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+21.3%/yr

Latest (2025): $7,084 · +560.5% YoY. Source: county tax records.