149 Georgia St · Houston, TX 77029

$194,000

4 bd · 2.0 ba · 1,470 sqft · MultiFamily public records · 20 Days on market

Built 1960 6,541 sqft lot Est $298k · 35% 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 +16.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +5.0/10.0
• 1% rule +4.7/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Solid Investment Opportunity in the Heart of Clinton Park! Discover 149 Georgia St—a rare find featuring two spacious 2-bedroom, 1-bathroom units. Perfect for the savvy investor looking for a "plug and play" property, both units are already tenant-occupied. Property has newer double-pane windows, water heaters are less than 6 yrs old and sits on a generous lot with quick access to I-10, 610 and the Houston Ship Channel. With the 77029 area seeing steady appreciation and infrastructure growth, makes for a great investment opportunity.

Key facts

• Generous lot
• Double-pane windows
• 6,541 sq ft lot

Tags

• DOUBLE-PANE WINDOWS
• GENEROUS LOT

Property features AI

Exterior

• Utilities: Electricity available; Natural gas available; Water available
• Home design: Residential income property; Built in 1960
• Construction: Composition roofing
• Exterior features: Composition roof; Lot approximately 6,541 square feet

Interior

• Bedrooms: 2 total units (multi-unit property)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Seller disclosure available

🏷️ Possibly a rental listed for sale. The $194,000 price doesn't fit this home's estimated sale value (~$298,410) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $194k.

Deal economics

• At list price, monthly cash flow is $104 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $188k (3.0% below list).
• Recommended offer: $188k (3.0% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Pleasantville El (math 8% / reading 22%, grade F, #4,021 of 4,322 statewide, top 94%, 233 students, 97% FRL); Holland Middle (math 10% / reading 16%, grade F, #1,609 of 1,662 statewide, top 97%, 644 students, 98% FRL) — zoned schools average 97% 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: 153 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $21k of equity ($1k loan paydown + $19k 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 + 3.0% rent growth), your $54k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $188,218 (3.0% below list)

Questions for the listing agent

1. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.97% ✗
• Cap rate: 6.94%
• Cash-on-cash: 2.31%
• DSCR: 1.10
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $298,410
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 Owens St	0.07mi	4/1.0	1,668 (+14%)	20mo	$338,000	$203	54

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 3.07×
• Total profit: $112,363
• Equity at exit: $174,771

10-year hold

• IRR: 22.8%
• Equity multiple: 7.00×
• Total profit: $325,767
• Equity at exit: $376,899

Cash invested: $54,320 (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 77029

• Home prices YoY: 7.2%
• Active inventory: 153
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,882 high
• Mortgage (P&I): −$1,017
• Tax from tax record: −$284 /mo · $3,412/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$395
• Net cashflow: $104

Break-even live

Break-even rent $1,750

Max offer price $194,000

Occupancy floor 89%

Sensitivity live

Price	-10% $214	-5% $159	+0% $104	+5% $50	+10% $-5
Rent	-10% $-44	-5% $30	+0% $104	+5% $179	+10% $253
Rate	-1.0pp $202	-0.5pp $154	base $104	+0.5pp $54	+1.0pp $3

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: $48,500
• Closing costs: $5,820
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
253 N Carolina St Houston, TX	4.0	2.0	1560	$1,600	$1.03	8d	1	0.17mi
205 Bolden St Unit A Houston, TX	3.0	2.0	1200	$2,500	$2.08	44d	1	0.21mi
403 Armstrong St Houston, TX	3.0	2.0	909	$1,435	$1.58	6d	1	0.45mi
423 Armstrong St Houston, TX	3.0	2.0	1090	$1,515	$1.39	2d	1	0.50mi
311 Massachusetts St Unit A Houston, TX	3.0	2.0	1184	$1,700	$1.44	13d	1	0.55mi
9821 Turnbow St Unit C Houston, TX	3.0	2.0	1140	$1,720	$1.51	44d	1	0.77mi
2216 3rd St Galena Park, TX	3.0	2.0	1500	$1,400	$0.93	44d	1	0.94mi
9710 Tuffly St Houston, TX	3.0	2.0	1275	$1,795	$1.41	25d	1	1.01mi
9709 Cargill St Houston, TX	3.0	2.0	1184	$2,300	$1.94	44d	1	1.22mi
8534 Fillmore St Houston, TX	3.0	1.0	965	$1,600	$1.66	44d	1	1.42mi

Listing history 26 events

1. 2026-06-18
   days on market $194,000 Active 20 DOM
2. 2026-06-17
   days on market $194,000 Active 19 DOM
3. 2026-06-16
   days on market $194,000 Active 18 DOM
4. 2026-06-15
   days on market $194,000 Active 17 DOM
5. 2026-06-13
   days on market $194,000 Active 15 DOM
6. 2026-06-09
   days on market $194,000 Active 11 DOM
7. 2026-06-08
   days on market $194,000 Active 10 DOM
8. 2026-06-07
   days on market $194,000 Active 9 DOM
9. 2026-06-04
   days on market $194,000 Active 6 DOM
10. 2026-06-03
    days on market $194,000 Active 5 DOM
11. 2026-06-02
    days on market $194,000 Active 4 DOM
12. 2026-06-01
    days on market $194,000 Active 3 DOM
13. 2026-05-31
    days on market $194,000 Active 2 DOM
14. 2026-05-11
    listed $230,000 Active 481-char remark
15. 2026-05-11
    historical
16. 2026-05-11
    listed $23,000
17. 2013-08-14
    soldstatus
18. 2013-08-13
    soldstatus Sold
19. 2013-07-28
    status Pending
20. 2013-07-13
    price $42,500
21. 2013-06-10
    price $49,777
22. 2013-05-26
    price $52,500
23. 2013-05-13
    listed $62,000 Active
24. 2006-04-03
    soldstatus
25. 2005-05-06
    soldstatus
26. 1988-01-02
    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: $3,412 · $284/mo
• Projected year-2 tax: $3,550 · $296/mo
• Expected delta: +$139/yr (+$12/mo · 4.1%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 21 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: $22,586
• − Mortgage interest: −$10,867
• − Property taxes: −$3,412
• − Insurance: −$970
• − Repairs & maintenance: −$1,807
• − Management: −$1,807
• − Depreciation: −$5,644
• Taxable loss: −$1,920
• Est. tax savings @ 24.0%: +$461
• After-tax cash flow: $1,714/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): 16,154
• Household income: $48,279
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 457.0

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 Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 32% Black 22% White 5%
• Hispanic origin (detail): Mexican 66%
• Foreign-born: 31% · Canada
• Languages at home: 39% English-only · Spanish 61%

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: ▲ 18.53%
• Current HPI: 276.1811
• Rent YoY: —
• 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

+212.9% since first listed

17 events — show timeline

• 2026-05-29 Listing Removed — HARMLS
• 2026-05-29 Listed $194,000 HARMLS
• 2026-05-23 Listing Removed — HARMLS
• 2026-05-23 Listed $215,000 HARMLS
• 2026-05-11 Listing Removed — HARMLS
• 2026-05-11 Listed $23,000 HARMLS
• 2026-05-11 Listed $230,000 HARMLS
• 2013-08-14 Sold (Public Records) — Public Records
• 2013-08-13 Sold (MLS) — HARMLS
• 2013-07-28 Pending — HARMLS
• 2013-07-13 Price Changed $42,500 HARMLS
• 2013-06-10 Price Changed $49,777 HARMLS
• 2013-05-26 Price Changed $52,500 HARMLS
• 2013-05-13 Listed $62,000 HARMLS
• 2006-04-03 Sold (Public Records) — Public Records
• 2005-05-06 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+5.7%/yr

Latest (2025): $3,412 · +9.3% YoY. Source: county tax records.