8424 Cannon St · Houston, TX 77051

$314,900

4 bd · 2.0 ba · 1,800 sqft · MultiFamily public records · 10 Days on market

Built 2016 5,830 sqft lot $175/sqft · 13% below area Est $362k · 13% under ↓ 13% since listing

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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).

• ARV discount +13.3/15.0
• Cash flow +10.1/30.0
• Appreciation +10.0/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• 1% rule +3.5/10.0
• DSCR +2.9/10.0
• 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

Investors welcome. This low-maintenance duplex, just 15 minutes from downtown, is 9 years new and already generating income. Both units are occupied at $1,200 per month, providing immediate cash flow, Both units feature two comfortable bedrooms with ceiling fans, a well-appointed bathroom with ample cabinet storage, and convenient washer and dryer connections. With modern systems, practical finishes, and a prime location close to city amenities, this property is an ideal addition to any portfolio or a smart first investment.

Key facts

• Immediate cash flow
• Practical finishes
• Modern systems

Tags

• LOW MAINTENANCE DUPLEX
• PRIME LOCATION
• IMMEDIATE CASH FLOW
• MODERN SYSTEMS
• PRACTICAL FINISHES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $315k.

Deal economics

• At list price, monthly cash flow is $-187 ($-2k/yr) — negative. Per door: $-93/mo.
• To cash-flow at today's rent, offer at most $282k (10.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $269k (14.5% below list).
• Recommended offer: $269k (14.5% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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: schools D, 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.
• Market conditions: Rents rising fast (+4.8%/yr); 312 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 $2,691/mo this rent would consume 86% of the median local household income ($37k/yr) (locally 1446% 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 $34k of equity ($2k loan paydown + $31k 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 ~$54k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $45k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $269,100 (14.5% 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. 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. 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: 0.85% ✗
• Cap rate: 5.58%
• Cash-on-cash: -2.54%
• DSCR: 0.89
• GRM: 9.8

CMA / ARV

• ARV (median comp): $361,810
• List price: $314,900
• Delta: -10.20%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8150 Bassett St	0.36mi	3/2.0 (-1)	1,958 (+9%)	1mo	$305,000	$156	63

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 · 4.77% rent growth · sell at horizon

5-year hold

• IRR: 23.1%
• Equity multiple: 2.87×
• Total profit: $164,605
• Equity at exit: $283,687

10-year hold

• IRR: 21.0%
• Equity multiple: 6.73×
• Total profit: $504,974
• Equity at exit: $611,781

Cash invested: $88,172 (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 77051

• Home prices YoY: 9.7%
• Rents YoY: 4.8%
• Active inventory: 312
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $2,691 high
• Mortgage (P&I): −$1,651
• Tax from tax record: −$530 /mo · $6,362/yr
• Insurance: −$131
• HOA: −$0
• Vacancy / Maint / Mgmt: −$565
• Net cashflow: $-187

Break-even live

Break-even rent $2,927

Max offer price $281,896

Occupancy floor —

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,692
Total (2 units)			$2,691

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: $78,725
• Closing costs: $9,447
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8328 Corinth St Unit B Houston, TX	3.0	2.5	1500	$2,800	$1.87	20d	1	0.35mi
3620 Du Bois St Unit 1302349P Houston, TX	3.0	2.5	1797	$2,945	$1.64	3d	1	0.42mi
8010 Livingston St Houston, TX	3.0	2.0	1400	$1,800	$1.29	43d	1	0.46mi
4117 Shelby Cir Unit 1230900P Houston, TX	4.0	2.0	1367	$5,355	$3.92	2d	1	0.65mi
7806 Comal St Unit B Houston, TX	3.0	2.5	1800	$2,200	$1.22	43d	1	0.66mi
4406 Sterling St Houston, TX	3.0	2.5	1840	$1,999	$1.09	17d	1	0.92mi
8181 El Mundo St Houston, TX	1.0–3.0	1.0–2.5	1356	$2,262	$1.67	2d	47	0.97mi
8181 El Mundo St Houston, TX	1.0–3.0	1.0–2.0	1241	$2,041	$1.64	24d	18	0.97mi
4514 Galesburg St Unit B Houston, TX	3.0	2.5	1680	$3,500	$2.08	24d	1	1.09mi
7507 Springhill St Houston, TX	3.0	3.5	2000	$4,500	$2.25	43d	1	1.13mi
9610 Buffum St Houston, TX	3.0	3.0	1605	$1,799	$1.12	43d	1	1.13mi
4526 Knoxville St Unit A Houston, TX	3.0	2.5	1474	$1,775	$1.20	15d	1	1.14mi
3710 Rockingham St Houston, TX	3.0	2.0	1890	$1,700	$0.90	43d	1	1.16mi
2700 Holly Hall St Unit 2733 Houston, TX	3.0	2.0	1943	$2,006	$1.03	3d	1	1.17mi
3732 Seabrook St Houston, TX	3.0	2.5	1727	$2,350	$1.36	24d	1	1.17mi
4601 White Rock St Unit A Houston, TX	3.0	2.5	1700	$2,500	$1.47	43d	1	1.19mi
3846 Seabrook St Houston, TX	3.0	3.5	1833	$2,300	$1.25	43d	1	1.20mi
4609 Bricker St Unit B Houston, TX	3.0	2.5	1300	$3,500	$2.69	12d	1	1.24mi
4609 Bricker St Unit ABC Houston, TX	3.0	2.5	1375	$3,500	$2.55	11d	1	1.24mi
4613 Bricker St Unit B Houston, TX	3.0	2.5	1600	$2,300	$1.44	43d	1	1.26mi
4530 Mayflower St Houston, TX	3.0	2.0	1302	$1,800	$1.38	43d	1	1.27mi
4538 Clover St Houston, TX	4.0	2.0	1768	$1,595	$0.90	43d	1	1.28mi
9606 Ashville Dr Unit B Houston, TX	3.0	2.0	1610	$1,570	$0.98	43d	1	1.28mi
7321 Conley St Unit B Houston, TX	3.0	2.0	1501	$2,025	$1.35	20d	1	1.31mi
7321 Conley St Unit A Houston, TX	3.0	2.5	1869	$2,025	$1.08	20d	1	1.31mi
3402 Nathaniel Brown St Unit B Houston, TX	3.0	2.5	1885	$2,025	$1.07	43d	1	1.32mi
8107 Calhoun Rd Houston, TX	3.0	2.5	1304	$2,250	$1.73	24d	1	1.34mi
7379 Ardmore St Unit 1303 Houston, TX	3.0	2.0	1442	$1,967	$1.36	43d	1	1.36mi
7379 Ardmore St Unit 1303 Houston, TX	3.0	2.0	1442	$1,967	$1.36	22d	1	1.36mi
3615 Dreyfus St Houston, TX	3.0	3.0	2011	$2,800	$1.39	43d	1	1.36mi
4835 Sunflower St Unit 1546466P Houston, TX	3.0	2.0	1883	$4,516	$2.40	15d	1	1.38mi
7373 Ardmore St Houston, TX	1.0–3.0	1.0–2.0	1095	$1,887	$1.72	4d	24	1.38mi

Listing history 24 events

1. 2026-06-18
   days on market $314,900 Active 10 DOM
2. 2026-06-17
   days on market $314,900 Active 9 DOM
3. 2026-06-16
   days on market $314,900 Active 8 DOM
4. 2026-06-15
   days on market $314,900 Active 7 DOM
5. 2026-06-13
   days on market $314,900 Active 5 DOM
6. 2026-06-08
   pricestatusdays on marketlisting id $314,900 Active 1 DOM
7. 2026-03-05
   price $324,900 530-char remark

   Show marketing remark (530 chars)

   Investors welcome. This low-maintenance duplex, just 15 minutes from downtown, is 9 years new and already generating income. Both units are occupied at $1,200 per month, providing immediate cash flow, Both units feature two comfortable bedrooms with ceiling fans, a well-appointed bathroom with ample cabinet storage, and convenient washer and dryer connections. With modern systems, practical finishes, and a prime location close to city amenities, this property is an ideal addition to any portfolio or a smart first investment.

8. 2026-03-05
   listed $359,900 Active 530-char remark

   Show marketing remark (530 chars)

   Investors welcome. This low-maintenance duplex, just 15 minutes from downtown, is 9 years new and already generating income. Both units are occupied at $1,200 per month, providing immediate cash flow, Both units feature two comfortable bedrooms with ceiling fans, a well-appointed bathroom with ample cabinet storage, and convenient washer and dryer connections. With modern systems, practical finishes, and a prime location close to city amenities, this property is an ideal addition to any portfolio or a smart first investment.

9. 2026-03-05
   historical

   Show marketing remark (530 chars)

   Investors welcome. This low-maintenance duplex, just 15 minutes from downtown, is 9 years new and already generating income. Both units are occupied at $1,200 per month, providing immediate cash flow, Both units feature two comfortable bedrooms with ceiling fans, a well-appointed bathroom with ample cabinet storage, and convenient washer and dryer connections. With modern systems, practical finishes, and a prime location close to city amenities, this property is an ideal addition to any portfolio or a smart first investment.

10. 2026-02-17
    listed $359,900 Active
11. 2026-02-05
    historical
12. 2026-01-06
    price $360,000
13. 2025-10-31
    listed $400,000 Active
14. 2024-11-04
    historical $1,200
15. 2024-10-19
    listed $1,200
16. 2023-03-01
    soldstatus Sold
17. 2023-03-01
    soldstatus
18. 2023-01-30
    status Pending
19. 2023-01-24
    status Option Pending
20. 2023-01-03
    price $335,000
21. 2022-12-19
    price $350,000
22. 2022-11-20
    listed $375,000 Active
23. 2021-09-15
    soldstatus
24. 1989-06-13
    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: $6,362 · $530/mo
• Projected year-2 tax: $6,362 · $530/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 6/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 23 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: $32,292
• − Mortgage interest: −$17,639
• − Property taxes: −$6,362
• − Insurance: −$1,574
• − Repairs & maintenance: −$2,583
• − Management: −$2,583
• − Depreciation: −$9,161
• Taxable loss: −$7,611
• Est. tax savings @ 24.0%: +$1,827
• After-tax cash flow: $-415/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): 19,795
• Household income: $37,415
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 1446.0

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 Black (77%)
• Race & ethnicity: Black 77% Hispanic / Latino 16% Two or more races 11% White 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 10%

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: ▲ 16.02%
• Current HPI: 180.4283
• Rent YoY: ▲ 4.77%
• 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

-13.4% since first listed

18 events — show timeline

• 2026-03-05 Price Changed $324,900 HARMLS
• 2026-03-05 Listing Removed — HARMLS
• 2026-03-05 Listed $359,900 HARMLS
• 2026-02-17 Listed $359,900 HARMLS
• 2026-02-05 Listing Removed — HARMLS
• 2026-01-06 Price Changed $360,000 HARMLS
• 2025-10-31 Listed $400,000 HARMLS
• 2024-11-04 Rental Removed $1,200 RENTALBEAST
• 2024-10-19 Listed for Rent $1,200 RENTALBEAST
• 2023-03-01 Sold (Public Records) — Public Records
• 2023-03-01 Sold (MLS) — HARMLS
• 2023-01-30 Pending — HARMLS
• 2023-01-24 Pending — HARMLS
• 2023-01-03 Price Changed $335,000 HARMLS
• 2022-12-19 Price Changed $350,000 HARMLS
• 2022-11-20 Listed $375,000 HARMLS
• 2021-09-15 Sold (Public Records) — Public Records
• 1989-06-13 Sold (Public Records) — Public Records

Property tax history

+19.4%/yr

Latest (2025): $6,362 · -0.3% YoY. Source: county tax records.