4610 Market St · Houston, TX 77020

$149,900

3 bd · 2.0 ba · 1,600 sqft · Land · 878 Days on market

Built 1949 Poor condition 1,999 sqft lot $94/sqft · 57% below area ↓ 57% since listing

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Why this score? — see what drove the B+ 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
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Schools +1.4/10.0
• Condition / age +1.0/5.0

Listing remarks MLS

Great Property for Barber Shop with apartment Above.

Key facts

• Apartment above
• Barber shop space
• 1,999 sq ft lot

Tags

• BARBER SHOP SPACE
• APARTMENT ABOVE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $150k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $888 ($11k/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 13.4% 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: Henderson N El (math 12% / reading 8%, grade F, #4,259 of 4,322 statewide, top 99%, 227 students, 100% FRL); Mcreynolds Middle (math 10% / reading 17%, grade F, #1,602 of 1,662 statewide, top 97%, 398 students, 98% 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 98% FRL vs 71% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 14% at this address vs 31% district-wide (-17 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); 465 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 68% of comp listings sitting > 30 days — soft ceiling on asking rent; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

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 878 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $75k (33%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 878 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1949 — 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. 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 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: 1.62% ✓
• Cap rate: 13.40%
• Cash-on-cash: 25.39%
• DSCR: 2.13
• GRM: 5.1

CMA / ARV

• ARV (median comp): $350,877
• List price: $149,900
• Delta: -57.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
633 Press St	0.46mi	3/2.5	1,648 (+3%)	1mo	$314,900	$191	71
3212 Retta St	1.26mi	3/2.5	1,600 (0%)	0mo	$265,000	$166	63
3107 Stonewall St	0.87mi	3/2.5	1,645 (+3%)	1mo	$349,900	$213	58
1806 Yates St	0.37mi	3/2.5	2,000 (+25%)	1mo	$374,900	$187	55
210 Grove St	0.91mi	3/2.5	1,688 (+6%)	1mo	$330,000	$195	53
4024 Lila St	1.09mi	3/2.5	1,498 (-6%)	0mo	$290,000	$194	52
2811 Amboy St	0.97mi	3/2.0	1,444 (-10%)	1mo	$185,000	$128	48
1917 West St	1.41mi	3/2.5	1,750 (+9%)	1mo	$387,000	$221	46
3409 Providence St	0.70mi	2/2.0 (-1)	1,410 (-12%)	1mo	$179,900	$128	42
2506 Noble St	1.36mi	3/2.5	1,944 (+22%)	0mo	$344,900	$177	38
2524 Sam Wilson St	1.05mi	3/2.5	1,309 (-18%)	1mo	$225,000	$172	37
407 N Nagle Street St Unit B	1.46mi	3/3.5	1,835 (+15%)	1mo	$361,350	$197	34

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: 44.2%
• Equity multiple: 4.37×
• Total profit: $141,382
• Equity at exit: $135,042

10-year hold

• IRR: 38.7%
• Equity multiple: 10.02×
• Total profit: $378,680
• Equity at exit: $291,223

Cash invested: $41,972 (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 →

Active competition Active MLS

• For sale now: 1 active · 1 under contract
• Median asking: $316,643 ($205/sqft)
• Median days on market: 35 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +7.2% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77020

• Home prices YoY: 29.1%
• Rents YoY: 4.3%
• Active inventory: 465
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,435 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $888

Break-even live

Break-even rent $1,311

Max offer price $149,900

Occupancy floor 59%

Sensitivity live

Price	-10% $992	-5% $940	+0% $888	+5% $836	+10% $784
Rent	-10% $696	-5% $792	+0% $888	+5% $984	+10% $1,080
Rate	-1.0pp $963	-0.5pp $926	base $888	+0.5pp $849	+1.0pp $810

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: $37,475
• Closing costs: $4,497
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4612 Market St Houston, TX	3.0	2.0	1420	$2,300	$1.62	11d	1	0.03mi
1222 Upton St Houston, TX	3.0	4.0	2055	$2,600	$1.27	139d	1	0.07mi
4706 Market St Houston, TX	3.0	2.5	1955	$2,900	$1.48	2d	1	0.09mi
4706 Market St Houston, TX	3.0	3.0	1955	$2,900	$1.48	88d	1	0.09mi
4502 Buck St Houston, TX	2.0	2.5	1892	$2,300	$1.22	54d	1	0.22mi
4300 Lyons Ave Unit 304 Houston, TX	4.0	2.0	1544	$1,460	$0.95	10d	1	0.26mi
4045 Buck St Houston, TX	3.0	3.5	2151	$2,799	$1.30	35d	1	0.40mi
4039 Buck St Houston, TX	3.0	3.5	2051	$2,699	$1.32	11d	1	0.40mi
4037 Buck St Houston, TX	3.0	3.5	2051	$2,599	$1.27	10d	1	0.41mi
4109 Hare St Unit 1019559P Houston, TX	4.0	2.5	1905	$6,852	$3.60	103d	1	0.42mi
4109 Hare St Unit A Houston, TX	4.0	2.5	1913	$6,950	$3.63	139d	1	0.42mi
4712 Rawley St Unit a Houston, TX	3.0	2.0	1501	$1,695	$1.13	3d	1	0.42mi
4712 Rawley St Unit B Houston, TX	3.0	2.5	1501	$1,670	$1.11	3d	1	0.42mi
3730 Lyons Ave Unit 216 Houston, TX	3.0	2.0	1107	$1,300	$1.17	139d	1	0.52mi
5217 Noble St Houston, TX	3.0	2.5	1897	$2,750	$1.45	139d	1	0.65mi
1907 Chew St Houston, TX	3.0	2.0	1524	$1,575	$1.03	69d	1	0.66mi
2006 Worms St Houston, TX	3.0	2.5	1344	$1,400	$1.04	49d	1	0.66mi
1513 Cage St Houston, TX	3.0	2.0	1467	$1,550	$1.06	139d	1	0.69mi
3419 Gillespie St Houston, TX	3.0	3.5	2168	$2,300	$1.06	139d	1	0.76mi
3410 Baer St Houston, TX	3.0	4.0	2040	$3,500	$1.72	139d	1	0.76mi
2105 Sam Wilson St Houston, TX	3.0	2.5	1416	$6,750	$4.77	139d	1	0.76mi
5605 Mulvey St Unit 1019610P Houston, TX	3.0	2.0	1410	$3,595	$2.55	0d	1	0.76mi
2310 Erastus St Unit B Houston, TX	2.0	2.5	1351	$3,200	$2.37	20d	1	0.78mi
3300 Lyons Ave Unit 304 Houston, TX	4.0	2.0	1393	$1,460	$1.05	139d	1	0.79mi
1303 Bayou St Unit C Houston, TX	3.0	3.0	1869	$3,200	$1.71	139d	1	0.83mi
1307 Bayou St Unit B Houston, TX	3.0	3.0	1814	$2,400	$1.32	103d	1	0.84mi
308 Grove St Houston, TX	3.0	3.0	1701	$2,350	$1.38	103d	1	0.89mi
1023 Hahlo St Houston, TX	4.0	2.0	1434	$1,675	$1.17	63d	1	0.91mi
319 Grove St Houston, TX	3.0	2.0	1511	$2,345	$1.55	10d	1	0.92mi
2407 Pannell St Houston, TX	3.0	1.0	1706	$2,275	$1.33	77d	1	0.94mi
611 Sydnor St Houston, TX	3.0	4.0	2157	$2,400	$1.11	139d	1	0.96mi
4509 Courtney St Houston, TX	4.0	1.0	1456	$1,150	$0.79	117d	1	0.97mi
2905 Baer St Unit 1047953P Houston, TX	3.0	2.0	1991	$2,794	$1.40	0d	1	1.04mi
417 Meadow St Houston, TX	3.0	2.0	2210	$2,574	$1.16	0d	1	1.06mi
2801 Providence St Houston, TX	3.0	3.0	1492	$1,600	$1.07	45d	1	1.07mi
2908 Cline St Houston, TX	3.0	3.0	1726	$3,200	$1.85	45d	1	1.08mi
2708 Sam Wilson St Houston, TX	2.0	2.0	1700	$1,750	$1.03	38d	1	1.12mi
800 Middle St Houston, TX	2.0–4.0	2.0	1103	$1,610	$1.46	0d	1	1.18mi
2769 Freund St Houston, TX	3.0	3.5	1928	$2,850	$1.48	54d	1	1.27mi
3503 Wyrick St Houston, TX	3.0	2.5	1746	$2,850	$1.63	139d	1	1.35mi

Listing history 50 events

1. 2026-09-23
   days on market $149,900 Active 878 DOM
2. 2026-09-22
   days on market $149,900 Active 877 DOM
3. 2026-09-21
   days on market $149,900 Active 876 DOM
4. 2026-09-20
   days on market $149,900 Active 875 DOM
5. 2026-09-19
   days on market $149,900 Active 874 DOM
6. 2026-09-16
   days on market $149,900 Active 871 DOM
7. 2026-09-15
   days on market $149,900 Active 870 DOM
8. 2026-09-14
   days on market $149,900 Active 869 DOM
9. 2026-09-13
   days on market $149,900 Active 868 DOM
10. 2026-09-12
    days on market $149,900 Active 867 DOM
11. 2026-09-05
    days on market $149,900 Active 860 DOM
12. 2026-09-04
    days on market $149,900 Active 859 DOM
13. 2026-09-03
    days on market $149,900 Active 858 DOM
14. 2026-08-31
    days on market $149,900 Active 855 DOM
15. 2026-08-29
    days on market $149,900 Active 853 DOM
16. 2026-08-28
    days on market $149,900 Active 852 DOM
17. 2026-08-27
    days on market $149,900 Active 851 DOM
18. 2026-08-25
    days on market $149,900 Active 849 DOM
19. 2026-08-24
    days on market $149,900 Active 848 DOM
20. 2026-08-23
    days on market $149,900 Active 847 DOM
21. 2026-08-22
    days on market $149,900 Active 846 DOM
22. 2026-08-21
    days on market $149,900 Active 845 DOM
23. 2026-08-20
    days on market $149,900 Active 844 DOM
24. 2026-08-19
    days on market $149,900 Active 843 DOM
25. 2026-08-18
    days on market $149,900 Active 842 DOM
26. 2026-08-17
    days on market $149,900 Active 841 DOM
27. 2026-08-16
    days on market $149,900 Active 840 DOM
28. 2026-08-15
    days on market $149,900 Active 839 DOM
29. 2026-08-14
    days on market $149,900 Active 838 DOM
30. 2026-08-13
    days on market $149,900 Active 837 DOM
31. 2026-08-12
    days on market $149,900 Active 836 DOM
32. 2026-08-11
    days on market $149,900 Active 835 DOM
33. 2026-08-10
    days on market $149,900 Active 834 DOM
34. 2026-08-09
    days on market $149,900 Active 833 DOM
35. 2026-08-08
    days on market $149,900 Active 832 DOM
36. 2026-08-06
    days on market $149,900 Active 830 DOM
37. 2026-08-05
    days on market $149,900 Active 829 DOM
38. 2026-08-04
    days on market $149,900 Active 828 DOM
39. 2026-08-03
    days on market $149,900 Active 827 DOM
40. 2026-07-31
    days on market $149,900 Active 824 DOM
41. 2026-07-30
    days on market $149,900 Active 823 DOM
42. 2026-07-30
    days on market $149,900 Active 822 DOM
43. 2026-07-28
    days on market $149,900 Active 821 DOM
44. 2026-07-26
    days on market $149,900 Active 819 DOM
45. 2026-07-23
    days on market $149,900 Active 816 DOM
46. 2026-07-22
    days on market $149,900 Active 815 DOM
47. 2026-07-21
    days on market $149,900 Active 814 DOM
48. 2026-07-20
    days on market $149,900 Active 813 DOM
49. 2026-07-18
    days on market $149,900 Active 811 DOM
50. 2026-07-18
    days on market $149,900 Active 810 DOM

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

Taxation est. · year 1

• Rental income: $29,224
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$2,338
• − Management: −$2,338
• − Depreciation: −$4,361
• Taxable income: $8,792
• Est. tax owed @ 24.0%: −$2,110
• After-tax cash flow: $8,545/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.

Condition & rehab AI · 10 photos

Poor 20/100 Extensive rehab Est. rehab $80,000–$144,000 screening

This property requires extensive repairs and updates to bring it up to a livable condition. The exterior and interior are in poor condition, and the property is in need of new siding, roof, flooring, paint, kitchen appliances, and bathroom fixtures.

Repairs flagged

• Major Siding — The siding is visibly weathered and in poor condition.
• Major Roof — The roof cannot be inspected from the exterior, but the condition of the exterior suggests it may need repair.
• Major Flooring — The carpet is worn out and in need of replacement.
• Major Paint — The paint is peeling and in poor condition.
• Major Kitchen — The kitchen cabinets and appliances are outdated and in need of replacement.
• Major Bathrooms — The bathrooms have old fixtures and missing or broken tiles.

Value-add opportunities

• Both New siding and roof — New siding and roof will improve the curb appeal and increase the property's value. ↑
• Both New flooring and paint — New flooring and paint will improve the interior condition and increase the property's value. ↑
• Both New kitchen appliances and cabinets — New kitchen appliances and cabinets will improve the functionality and increase the property's value. ↑
• Both New bathroom fixtures — New bathroom fixtures will improve the functionality and increase the property's value. ↑

ⓘ Rehab cost is a screening estimate — Extensive scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 14/100

Zoned Schools

Elementary Henderson N El F TX #4,259/4,322 Nat'l #39,071/41,679 Middle Mcreynolds Middle F TX #1,602/1,662 Nat'l #12,913/14,009 High Wheatley H S F TX #1,445/1,632 Nat'l #14,759/17,239

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

B Composite livability gradescore 74/100

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 · 5,571,493 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: 16% of renters

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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%

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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%

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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

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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

-57.2% since first listed

8 events — show timeline

• 2025-09-22 Price Changed $149,900 HARMLS
• 2024-09-25 Price Changed $175,000 HARMLS
• 2024-06-13 Price Changed $199,000 HARMLS
• 2024-04-28 Listed $225,000 HARMLS
• 2024-04-23 Listing Removed — HARMLS
• 2024-03-05 Price Changed $225,000 HARMLS
• 2023-08-18 Price Changed $299,000 HARMLS
• 2023-04-09 Listed $350,000 HARMLS