6406 Cobalt St · Houston, TX 77016

$185,000

3 bd · 1.0 ba · 910 sqft · SingleFamily public records · 117 Days on market

Built 1960 6,821 sqft lot Est $142k · 30% over

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Why this score? — see what drove the D 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 +14.0/30.0
• Appreciation +9.3/10.0
• DSCR +4.2/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Unlock the potential of this property in a prime location! Situated on a generous lot, this home offers endless possibilities for the savvy investor or visionary buyer. Whether you’re looking to renovate, expand, or reimagine, the footprint provides the perfect canvas for your next project. The surrounding neighborhood has been experiencing steady growth, making this an ideal time to maximize value. With its strong bones, sizable yard, and desirable street presence, 6406 Cobalt Street is ready for transformation. Bring your creativity and see the opportunity this property has to offer.

Key facts

• New ac unit
• Renovated home
• New flooring

Tags

• RENOVATED HOME
• NEW ROOF
• NEW AC UNIT
• NEW FLOORING
• YARD SPACE

Property features AI

Exterior

• Parking: Attached garage (2 spaces); Attached carport; Converted garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Single-story (all main rooms listed on first level); Built in 1960; Slab foundation; Facing direction not specified
• Construction: Stone and vinyl siding exterior; Composition roof
• Exterior features: Subdivision lot; Concrete road surface

Interior

• Kitchen: Gas cooktop; Gas oven
• Bedrooms: Four primary bedrooms on the first floor
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (electric and gas); Central electric air conditioning
• Interior features: Washer hookup and both electric and gas dryer hookups; Gas cooktop and gas oven
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $-42 ($-507/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (4.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $164k (11.6% below list).
• Recommended offer: $164k (11.6% below list) — sets the bar for 1% rule.

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: Forest Brook Middle (math 12% / reading 14%, grade F, #1,609 of 1,662 statewide, top 97%, 613 students, 98% FRL); North Forest H S (math 13% / reading 18%, grade F, #1,505 of 1,632 statewide, top 92%, 974 students, 97% FRL) — zoned schools average 98% FRL vs 71% district-wide (27 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 flat; 372 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (8.7% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (8.7% appreciation + 0.4% rent growth), your $52k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 117 days — a 9% lower offer ($168k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $12k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $163,549 (11.6% 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. It's been on market 117 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
10. 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.
11. 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.
12. 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: 0.88% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.56%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $141,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6618 Hopper Rd	0.45mi	3/1.0	929 (+2%)	5mo	$169,000	$182	71
6534 Mohawk St	0.52mi	3/1.0	936 (+3%)	5mo	$110,000	$118	67
6535 Mohawk St	0.50mi	3/1.0	936 (+3%)	9mo	$118,000	$126	65
6315 Mardale Dr	0.61mi	3/1.0	894 (-2%)	5mo	$110,000	$123	65
6406 Guadalupe St	0.16mi	3/1.0	1,036 (+14%)	6mo	$165,000	$159	64
11058 Vailview Dr	0.56mi	3/1.0	954 (+5%)	4mo	$140,000	$147	62
11075 Spottswood Dr	0.47mi	3/1.5	995 (+9%)	4mo	$155,000	$156	57
11063 Vailview Dr	0.53mi	3/1.0	980 (+8%)	8mo	$159,900	$163	56
11115 Burningbush Ln	0.70mi	3/1.5	984 (+8%)	3mo	$170,000	$173	49
6038 Guadalupe St	0.37mi	3/2.0	1,046 (+15%)	9mo	$195,000	$186	46
11059 Vailview Dr	0.54mi	4/1.5 (+1)	1,025 (+13%)	4mo	$159,000	$155	44
6723 Leedale St	0.68mi	4/1.5 (+1)	1,025 (+13%)	3mo	$120,000	$117	38

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

Projected returns pro-forma

8.65% appreciation · 0.44% rent growth · sell at horizon

5-year hold

• IRR: 19.8%
• Equity multiple: 2.49×
• Total profit: $77,215
• Equity at exit: $148,791

10-year hold

• IRR: 17.6%
• Equity multiple: 5.23×
• Total profit: $219,110
• Equity at exit: $303,575

Cash invested: $51,800 (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 77016

• Home prices YoY: 2.8%
• Rents YoY: 0.4%
• Active inventory: 372
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,635 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$221 /mo · $2,647/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $-42

Break-even live

Break-even rent $1,689

Max offer price $177,533

Occupancy floor 98%

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11435 Raincove Dr Unit A Houston, TX	3.0	1.0	1000	$1,345	$1.34	4d	1	0.38mi
6822 Leedale St Houston, TX	3.0	1.0	978	$1,500	$1.53	43d	1	0.73mi
8003 Alpine Bearberry Dr Houston, TX	3.0–4.0	2.0–2.5	1696	$2,000	$1.18	7d	1	1.35mi

Listing history 21 events

1. 2026-06-18
   days on market $185,000 Active 117 DOM
2. 2026-06-17
   days on market $185,000 Active 116 DOM
3. 2026-06-16
   days on market $185,000 Active 115 DOM
4. 2026-06-15
   days on market $185,000 Active 114 DOM
5. 2026-06-13
   pricedays on market $185,000 Active 112 DOM
6. 2026-06-10
   days on market $190,000 Active 108 DOM
7. 2026-06-08
   days on market $190,000 Active 107 DOM
8. 2026-06-07
   days on market $190,000 Active 106 DOM
9. 2026-06-04
   days on market $190,000 Active 103 DOM
10. 2026-06-01
    days on market $190,000 Active 100 DOM
11. 2026-05-31
    days on market $190,000 Active 99 DOM
12. 2026-05-18
    status Active
13. 2026-03-31
    status Pending
14. 2026-03-09
    price $190,000
15. 2026-01-03
    listed $197,000 Active
16. 2025-09-29
    soldstatus
17. 2025-09-25
    soldstatus Closed 599-char remark

    Show marketing remark (599 chars)

    Unlock the potential of this property in a prime location! Situated on a generous lot, this home offers endless possibilities for the savvy investor or visionary buyer. Whether you’re looking to renovate, expand, or reimagine, the footprint provides the perfect canvas for your next project. The surrounding neighborhood has been experiencing steady growth, making this an ideal time to maximize value. With its strong bones, sizable yard, and desirable street presence, 6406 Cobalt Street is ready for transformation. Bring your creativity and see the opportunity this property has to offer.

18. 2025-09-03
    status Pending 599-char remark

    Show marketing remark (599 chars)

    Unlock the potential of this property in a prime location! Situated on a generous lot, this home offers endless possibilities for the savvy investor or visionary buyer. Whether you’re looking to renovate, expand, or reimagine, the footprint provides the perfect canvas for your next project. The surrounding neighborhood has been experiencing steady growth, making this an ideal time to maximize value. With its strong bones, sizable yard, and desirable street presence, 6406 Cobalt Street is ready for transformation. Bring your creativity and see the opportunity this property has to offer.

19. 2025-08-28
    listed $115,000 Active 599-char remark

    Show marketing remark (599 chars)

    Unlock the potential of this property in a prime location! Situated on a generous lot, this home offers endless possibilities for the savvy investor or visionary buyer. Whether you’re looking to renovate, expand, or reimagine, the footprint provides the perfect canvas for your next project. The surrounding neighborhood has been experiencing steady growth, making this an ideal time to maximize value. With its strong bones, sizable yard, and desirable street presence, 6406 Cobalt Street is ready for transformation. Bring your creativity and see the opportunity this property has to offer.

20. 2006-01-27
    soldstatus
21. 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: $2,647 · $221/mo
• Projected year-2 tax: $3,386 · $282/mo
• Expected delta: +$738/yr (+$62/mo · 27.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,626
• − Mortgage interest: −$10,363
• − Property taxes: −$2,647
• − Insurance: −$1,722
• − Repairs & maintenance: −$1,570
• − Management: −$1,570
• − Depreciation: −$5,382
• Taxable loss: −$3,629
• Est. tax savings @ 24.0%: +$871
• After-tax cash flow: $364/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): 29,841
• Household income: $47,677
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 1297.0

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: Majority Black (56%)
• Race & ethnicity: Black 56% Hispanic / Latino 42% Two or more races 28%
• Hispanic origin (detail): Mexican 34%
• Foreign-born: 18% · Canada
• Languages at home: 61% English-only · Spanish 37%

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: ▲ 8.65%
• Current HPI: 315.6765
• Rent YoY: ▲ 0.44%
• 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

+65.2% since first listed

10 events — show timeline

• 2026-05-18 Relisted — HARMLS
• 2026-03-31 Pending — HARMLS
• 2026-03-09 Price Changed $190,000 HARMLS
• 2026-01-03 Listed $197,000 HARMLS
• 2025-09-29 Sold (Public Records) — Public Records
• 2025-09-25 Sold (MLS) — HARMLS
• 2025-09-03 Pending — HARMLS
• 2025-08-28 Listed $115,000 HARMLS
• 2006-01-27 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+8.9%/yr

Latest (2025): $2,647 · -9.7% YoY. Source: county tax records.