2612 Isabella St · Houston, TX 77004

$359,000

5 bd · 2.0 ba · 2,608 sqft · MultiFamily public records · 58 Days on market

Built 1930 5,775 sqft lot $138/sqft · 25% below area Est $481k · 25% under

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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 +18.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +5.6/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 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 investment opportunity! No restrictions on AirBnB! Live on one side and lease out the other. This historic Washington Terrace duplex lies on the edge of Midtown and provides immediate access to Third Ward, the Medical Center, Downtown, and all major universities. 2612 is vacant and has been completely renovated with flooring, paint, kitchen,& bathrooms and features 2 bedrooms and 1.5 bathrooms. 2610 is a 2/1 with an upstairs bonus room that provides the opportunity to upgrade and add additional value to the home, but is in move in ready condition.Roof replaced in 2025 and landscaping was recently refreshed.Each side has its own private yard and washer/dryer in the unit.Walking distance to Emancipation Park, the Historic El Dorado Ballroom, and local bookstores, restaurants, and area amenities. Buyer to verify all MLS info.

Key facts

• Private yard
• Completely renovated
• 5,775 sq ft lot

Tags

• COMPLETELY RENOVATED
• PRIVATE YARD

What this means for you Summary

Snapshot

• This is a 2 × 2.0-bed/1.5-bath units multifamily listed at $359k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive. Per door: $157/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $359k).
• Recommended offer: $348k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: 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 soft (-0.3%/yr); 581 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $3,797/mo this rent would consume 64% of the median local household income ($71k/yr) (locally 3072% 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 $11k 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.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 20y 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 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $348,230 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 days. Have you received any prior offers? Is the seller open to a 3% 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.06% ✓
• Cap rate: 7.34%
• Cash-on-cash: 3.75%
• DSCR: 1.17
• GRM: 7.9

CMA / ARV

• ARV (median comp): $480,959
• List price: $359,000
• Delta: -25.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2421 Cleburne St	0.09mi	4/2.0 (-1)	2,547 (-2%)	14mo	$415,000	$163	75
2218 Arbor St	0.53mi	5/3.0	2,628 (+1%)	4mo	$420,000	$160	67
2318 Isabella St	0.17mi	4/1.0 (-1)	2,476 (-5%)	15mo	$490,000	$198	62
2907 Truxillo St	0.20mi	4/2.0 (-1)	2,712 (+4%)	21mo	$499,999	$184	61
2903 Wichita St	0.62mi	4/2.0 (-1)	2,660 (+2%)	14mo	$550,000	$207	51
2820 Blodgett St #3	0.40mi	4/1.0 (-1)	2,424 (-7%)	20mo	$350,000	$144	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -14.1%
• Equity multiple: 0.51×
• Total profit: $-49,119
• Equity at exit: $53,528

10-year hold

• IRR: -11.5%
• Equity multiple: 0.41×
• Total profit: $-59,279
• Equity at exit: $31,040

Cash invested: $100,520 (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 77004

• Rents YoY: -0.3%
• Active inventory: 581
• Price-to-rent: 15.8×

Monthly cashflow live

• Estimated rent: $3,797 high
• Mortgage (P&I): −$1,883
• Tax from tax record: −$653 /mo · $7,841/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$797
• Net cashflow: $314

Break-even live

Break-even rent $3,400

Max offer price $359,000

Occupancy floor 87%

Sensitivity live

Price	-10% $517	-5% $416	+0% $314	+5% $212	+10% $111
Rent	-10% $14	-5% $164	+0% $314	+5% $464	+10% $614
Rate	-1.0pp $495	-0.5pp $405	base $314	+0.5pp $221	+1.0pp $126

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

Units	Beds	Baths	Est. rent
▸ 2× units	2.0	1.5	$3,796
Total (2 units)			$3,797

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: $89,750
• Closing costs: $10,770
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2703 Blodgett St Unit 1047952P Houston, TX	1.0–5.0	1.5–5.5	2497	$13,847	$5.55	2d	2	0.34mi
3405 St Emanuel St Houston, TX	4.0	5.0	2388	$2,900	$1.21	44d	1	0.45mi
3213 Saint Emanuel St Houston, TX	4.0	3.5	2100	$3,300	$1.57	17d	1	0.51mi
3535 Wentworth St Houston, TX	4.0	3.0	2600	$2,650	$1.02	22d	1	0.95mi
3122 Lucinda St Houston, TX	5.0	5.0	1984	$999	$0.50	25d	1	1.09mi
3518 Dennis St Unit 1387517P Houston, TX	4.0	4.0	2271	$5,110	$2.25	14d	1	1.15mi
3719 Elgin St Houston, TX	1.0–5.0	1.0–5.0	1241	$1,899	$1.53	25d	14	1.17mi
5927 Almeda Rd Houston, TX	1.0–4.0	1.0–4.0	3055	$7,635	$2.50	0d	3	1.23mi
5927 Almeda Rd Houston, TX	2.0–4.0	2.5–4.0	3055	$7,635	$2.50	13d	2	1.23mi
5927 Almeda Rd Unit AHP3 Houston, TX	4.0	4.5	3055	$7,635	$2.50	4d	1	1.23mi
5927 Almeda Rd Houston, TX	4.0	4.0	3055	$7,635	$2.50	25d	1	1.23mi
5927 Almeda Rd Houston, TX	4.0	4.0	3055	$7,635	$2.50	44d	1	1.23mi
5933 Almeda Rd Unit 2-1405 Houston, TX	4.0	4.0	3055	$7,442	$2.44	44d	1	1.28mi
420 Hawthorne St Houston, TX	4.0	2.0	2230	$3,373	$1.51	44d	1	1.47mi

Listing history 45 events

1. 2026-06-18
   days on market $359,000 Pending 58 DOM
2. 2026-06-17
   statusdays on market $359,000 Pending 57 DOM
3. 2026-06-16
   days on market $359,000 Active 56 DOM
4. 2026-06-15
   days on market $359,000 Active 55 DOM
5. 2026-06-13
   days on market $359,000 Active 53 DOM
6. 2026-06-10
   days on market $359,000 Active 49 DOM
7. 2026-06-08
   days on market $359,000 Active 48 DOM
8. 2026-06-07
   days on market $359,000 Active 47 DOM
9. 2026-06-04
   days on market $359,000 Active 44 DOM
10. 2026-06-01
    days on market $359,000 Active 41 DOM
11. 2026-05-31
    days on market $359,000 Active 40 DOM
12. 2026-05-08
    historical $1,350
13. 2026-04-21
    listed $359,000 Active 857-char remark

    Show marketing remark (857 chars)

    Income producing investment opportunity! No restrictions on AirBnB! Live on one side and lease out the other. This historic Washington Terrace duplex lies on the edge of Midtown and provides immediate access to Third Ward, the Medical Center, Downtown, and all major universities. 2612 is vacant and has been completely renovated with flooring, paint, kitchen,& bathrooms and features 2 bedrooms and 1.5 bathrooms. 2610 is a 2/1 with an upstairs bonus room that provides the opportunity to upgrade and add additional value to the home, but is in move in ready condition.Roof replaced in 2025 and landscaping was recently refreshed.Each side has its own private yard and washer/dryer in the unit.Walking distance to Emancipation Park, the Historic El Dorado Ballroom, and local bookstores, restaurants, and area amenities. Buyer to verify all MLS info.

14. 2026-04-21
    historical

    Show marketing remark (857 chars)

    Income producing investment opportunity! No restrictions on AirBnB! Live on one side and lease out the other. This historic Washington Terrace duplex lies on the edge of Midtown and provides immediate access to Third Ward, the Medical Center, Downtown, and all major universities. 2612 is vacant and has been completely renovated with flooring, paint, kitchen,& bathrooms and features 2 bedrooms and 1.5 bathrooms. 2610 is a 2/1 with an upstairs bonus room that provides the opportunity to upgrade and add additional value to the home, but is in move in ready condition.Roof replaced in 2025 and landscaping was recently refreshed.Each side has its own private yard and washer/dryer in the unit.Walking distance to Emancipation Park, the Historic El Dorado Ballroom, and local bookstores, restaurants, and area amenities. Buyer to verify all MLS info.

15. 2026-03-26
    price $1,350
16. 2026-03-19
    price $1,375
17. 2026-03-12
    price $1,390
18. 2026-03-10
    listed $379,900 Active
19. 2026-03-10
    historical
20. 2026-03-05
    listed $1,450
21. 2025-11-03
    listed $385,000 Active
22. 2025-02-28
    historical $1,350
23. 2025-01-27
    listed $1,350
24. 2024-12-01
    historical $1,395
25. 2024-08-16
    listed $1,395
26. 2014-01-10
    historical
27. 2014-01-07
    soldstatus Sold
28. 2013-12-20
    status Pending
29. 2013-12-19
    status Pending, Continue to Show
30. 2013-12-04
    status Option Pending
31. 2013-11-12
    price $164,000
32. 2013-10-10
    listed $169,000 Active
33. 2011-11-18
    historical
34. 2010-07-08
    historical
35. 2009-11-17
    listed $149,000
36. 2008-09-03
    listed $149,900
37. 2008-08-21
    historical
38. 2007-10-17
    listed $169,900
39. 2006-09-19
    historical
40. 2006-09-08
    listed $144,990
41. 2006-09-08
    historical
42. 2006-04-12
    listed $140,000
43. 2006-01-12
    soldstatus
44. 2005-12-13
    soldstatus
45. 1988-10-27
    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: $7,841 · $653/mo
• Projected year-2 tax: $7,841 · $653/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) · 70% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,564
• − Mortgage interest: −$20,110
• − Property taxes: −$7,841
• − Insurance: −$1,795
• − Repairs & maintenance: −$3,645
• − Management: −$3,645
• − Depreciation: −$10,444
• Taxable loss: −$1,915
• Est. tax savings @ 24.0%: +$460
• After-tax cash flow: $4,228/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): 35,997
• Household income: $71,199
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 3072.0

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 0.68)
• Race & ethnicity: Black 48% White 27% Hispanic / Latino 13% Two or more races 11% Asian 8%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 82% English-only · Spanish 10% Chinese 2% Other Indo-European 2%

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: ▼ -139.34%
• Current HPI: 199.6066
• Rent YoY: ▼ -0.32%
• 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

-99.0% since first listed

34 events — show timeline

• 2026-05-08 Rental Removed $1,350 HARMLS
• 2026-04-21 Listing Removed — HARMLS
• 2026-04-21 Listed $359,000 HARMLS
• 2026-03-26 Price Changed $1,350 HARMLS
• 2026-03-19 Price Changed $1,375 HARMLS
• 2026-03-12 Price Changed $1,390 HARMLS
• 2026-03-10 Listing Removed — HARMLS
• 2026-03-10 Listed $379,900 HARMLS
• 2026-03-05 Listed for Rent $1,450 HARMLS
• 2025-11-03 Listed $385,000 HARMLS
• 2025-02-28 Rental Removed $1,350 Avail
• 2025-01-27 Listed for Rent $1,350 Avail
• 2024-12-01 Rental Removed $1,395 HARMLS
• 2024-08-16 Listed for Rent $1,395 HARMLS
• 2014-01-10 Listing Removed — HARMLS
• 2014-01-07 Sold (MLS) — HARMLS
• 2013-12-20 Pending — HARMLS
• 2013-12-19 Pending — HARMLS
• 2013-12-04 Pending — HARMLS
• 2013-11-12 Price Changed $164,000 HARMLS
• 2013-10-10 Listed $169,000 HARMLS
• 2011-11-18 Listing Removed — HARMLS
• 2010-07-08 Listing Removed — HARMLS
• 2009-11-17 Listed $149,000 HARMLS
• 2008-09-03 Listed $149,900 HARMLS
• 2008-08-21 Listing Removed — HARMLS
• 2007-10-17 Listed $169,900 HARMLS
• 2006-09-19 Listing Removed — HARMLS
• 2006-09-08 Listing Removed — HARMLS
• 2006-09-08 Listed $144,990 HARMLS
• 2006-04-12 Listed $140,000 HARMLS
• 2006-01-12 Sold (Public Records) — Public Records
• 2005-12-13 Sold (Public Records) — Public Records
• 1988-10-27 Sold (Public Records) — Public Records

Property tax history

+8.7%/yr

Latest (2025): $7,841 · +2.9% YoY. Source: county tax records.