6648 Avenue C · Houston, TX 77011

$350,000

3 bd · 1.0 ba · 3,343 sqft · MultiFamily · 284 Days on market

Built 1949 Fair condition 6,500 sqft lot $105/sqft · 23% below area Est $457k · 23% under ↓ 44% 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 +25.9/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.7/10.0
• 1% rule +6.9/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.2/5.0
• Rent growth +1.8/5.0

Multi-family units

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

Listing remarks MLS

Discover an outstanding mixed-use investment opportunity in Houston’s thriving East End. This property offers unmatched visibility and accessibility with a total of 230 ft of frontage on three different streets, including a traffic count of 2,588 vehicles daily along 67th Street (Cesar Chavez Blvd.) (Tx-Dot, 2021). Located in Opportunity Zone #48201310900, it presents significant tax advantages for investors while sitting in a neighborhood experiencing rapid growth and redevelopment. The site features three residential units alongside a small retail shop, making it ideal for a mixed-use developer or investor seeking both immediate rental income and long-term value. The flexible layout supports a variety of uses, from live/work configurations to multi-tenant leasing, or even future redevelopment into a larger residential or commercial project.

Key facts

• Flexible layout
• Small retail shop
• Variety of uses

Tags

• TOTAL OF 230 FT OF FRONTAGE
• THREE DIFFERENT STREETS
• THREE RESIDENTIAL UNITS
• SMALL RETAIL SHOP
• FLEXIBLE LAYOUT
• VARIETY OF USES

🏷️ Possibly a rental listed for sale. The $350,000 price doesn't fit this home's estimated sale value (~$456,535) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath multifamily listed at $350k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $858 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $350k).
• Recommended offer: $308k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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 soft (-2.9%/yr); 161 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $4,148/mo this rent would consume 99% of the median local household income ($50k/yr) (locally 655% 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 $37k of equity ($2k loan paydown + $35k 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 + 0.0% rent growth), your $98k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 284 days — a 12% lower offer ($308k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 4y ago; this cycle's ask has dropped $80k (19%) 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 $308,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 284 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 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: 1.19% ✓
• Cap rate: 9.24%
• Cash-on-cash: 10.51%
• DSCR: 1.47
• GRM: 7.0

CMA / ARV

• ARV (median comp): $456,535
• List price: $350,000
• Delta: -23.34%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6607 Avenue O	0.64mi	3/2.0	3,000 (-10%)	8mo	$450,000	$150	43
7044 Avenue E	0.52mi	2/1.0 (-1)	2,900 (-13%)	9mo	$415,000	$143	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 30.7%
• Equity multiple: 3.38×
• Total profit: $233,182
• Equity at exit: $315,308

10-year hold

• IRR: 25.7%
• Equity multiple: 7.35×
• Total profit: $622,059
• Equity at exit: $679,973

Cash invested: $98,000 (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 77011

• Home prices YoY: 30.1%
• Rents YoY: -2.9%
• Active inventory: 161
• Price-to-rent: 21.1×

Monthly cashflow live

• Estimated rent: $4,148 high
• Mortgage (P&I): −$1,835
• Tax est. 1.5%: −$438 /mo · $5,250/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$871
• Net cashflow: $858

Break-even live

Break-even rent $3,062

Max offer price $350,000

Occupancy floor 74%

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

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$4,149
Total (3 units)			$4,148

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: $87,500
• Closing costs: $10,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
207 Edgewood St Houston, TX	3.0	4.0	2577	$3,250	$1.26	43d	1	0.92mi

Listing history 32 events

1. 2026-06-18
   price $350,000 Active 284 DOM
2. 2026-06-18
   days on market $390,000 Active 284 DOM
3. 2026-06-17
   days on market $390,000 Active 283 DOM
4. 2026-06-16
   days on market $390,000 Active 282 DOM
5. 2026-06-15
   days on market $390,000 Active 281 DOM
6. 2026-06-13
   days on market $390,000 Active 279 DOM
7. 2026-06-10
   days on market $390,000 Active 275 DOM
8. 2026-06-08
   days on market $390,000 Active 274 DOM
9. 2026-06-07
   days on market $390,000 Active 273 DOM
10. 2026-06-04
    days on market $390,000 Active 270 DOM
11. 2026-06-01
    days on market $390,000 Active 267 DOM
12. 2026-05-31
    days on market $390,000 Active 266 DOM
13. 2026-04-14
    price $390,000 864-char remark

    Show marketing remark (864 chars)

    Discover an outstanding mixed-use investment opportunity in Houston’s thriving East End. This property offers unmatched visibility and accessibility with a total of 230 ft of frontage on three different streets, including a traffic count of 2,588 vehicles daily along 67th Street (Cesar Chavez Blvd.) (Tx-Dot, 2021). Located in Opportunity Zone #48201310900, it presents significant tax advantages for investors while sitting in a neighborhood experiencing rapid growth and redevelopment. The site features three residential units alongside a small retail shop, making it ideal for a mixed-use developer or investor seeking both immediate rental income and long-term value. The flexible layout supports a variety of uses, from live/work configurations to multi-tenant leasing, or even future redevelopment into a larger residential or commercial project.

14. 2025-09-07
    listed $430,000 Active 864-char remark

    Show marketing remark (864 chars)

    Discover an outstanding mixed-use investment opportunity in Houston’s thriving East End. This property offers unmatched visibility and accessibility with a total of 230 ft of frontage on three different streets, including a traffic count of 2,588 vehicles daily along 67th Street (Cesar Chavez Blvd.) (Tx-Dot, 2021). Located in Opportunity Zone #48201310900, it presents significant tax advantages for investors while sitting in a neighborhood experiencing rapid growth and redevelopment. The site features three residential units alongside a small retail shop, making it ideal for a mixed-use developer or investor seeking both immediate rental income and long-term value. The flexible layout supports a variety of uses, from live/work configurations to multi-tenant leasing, or even future redevelopment into a larger residential or commercial project.

15. 2025-02-03
    historical
16. 2024-11-03
    price $470,000
17. 2024-09-16
    price $499,000
18. 2024-08-28
    price $520,000
19. 2024-08-04
    status Active
20. 2024-08-04
    price $520,000
21. 2024-08-04
    historical
22. 2024-08-04
    price $540,000
23. 2024-07-28
    listed $560,000 Active
24. 2024-07-06
    historical
25. 2022-08-11
    historical
26. 2022-06-17
    listed $580,000 Active
27. 2022-06-16
    historical
28. 2022-06-04
    price $649,000
29. 2022-06-04
    status Active
30. 2022-06-01
    status Pending
31. 2022-05-23
    status Option Pending
32. 2022-05-05
    listed $700,000 Active

ⓘ 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: $49,776
• − Mortgage interest: −$19,605
• − Property taxes: −$5,250
• − Insurance: −$1,750
• − Repairs & maintenance: −$3,982
• − Management: −$3,982
• − Depreciation: −$10,182
• Taxable income: $5,025
• Est. tax owed @ 24.0%: −$1,206
• After-tax cash flow: $9,092/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 · 6 photos

Fair 45/100 Moderate rehab

This multi-family property in Houston's East End requires moderate repairs and updates to its exterior and interior to improve its condition and value. The home's location and mixed-use potential make it a promising investment opportunity.

Repairs flagged

• Moderate Exterior siding — Weathered and stained, indicating wear and tear.
• Moderate Interior walls — Signs of wear and may need repainting.
• Moderate Kitchen cabinets — Dated and may need updating.
• Moderate Bathroom fixtures — Dated and may need updating.
• Moderate Hardwood flooring — Worn and may need refinishing.
• Moderate Landscaping — Overgrown and may need trimming and maintenance.

Value-add opportunities

• Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and appeal.
• Resale Update kitchen cabinets and appliances — Modernizing the kitchen can attract more buyers and increase the home's value.
• Resale Update bathroom fixtures and tiling — Fresh and updated bathrooms can significantly enhance the home's appeal and value.
• Resale Refinish hardwood flooring — Refinished hardwood flooring can add value and appeal to potential buyers.
• Both Trim and maintain landscaping — A well-maintained and attractive exterior can improve curb appeal and attract more potential buyers or renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered and stained, indicating wear and tear.	Moderate	$3,000–15,000
Interior walls · Signs of wear and may need repainting.	Moderate	$3,000–15,000
Kitchen cabinets · Dated and may need updating.	Moderate	$3,000–15,000
Bathroom fixtures · Dated and may need updating.	Moderate	$3,000–15,000
Hardwood flooring · Worn and may need refinishing.	Moderate	$3,000–15,000
Landscaping · Overgrown and may need trimming and maintenance.	Moderate	$3,000–15,000
Total estimated repair cost · 6 items		$18,000–90,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint can make a significant difference in the home's appearance and appeal. ↑
• Resale Update kitchen cabinets and appliances — Modernizing the kitchen can attract more buyers and increase the home's value. ↑
• Resale Update bathroom fixtures and tiling — Fresh and updated bathrooms can significantly enhance the home's appeal and value. ↑
• Resale Refinish hardwood flooring — Refinished hardwood flooring can add value and appeal to potential buyers. ↑
• Both Trim and maintain landscaping — A well-maintained and attractive exterior can improve curb appeal and attract more potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 14,940
• Household income: $50,133
• Rent vs Own: 47.8% rent · 52.2% own
• Severe rent burden: 655.0

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 (88%)
• Race & ethnicity: Hispanic / Latino 88% Two or more races 29% White 7% Black 3%
• Hispanic origin (detail): Mexican 81%
• Foreign-born: 33% · Canada
• Languages at home: 24% English-only · Spanish 76%

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: ▲ 68.18%
• Current HPI: 295.1198
• Rent YoY: ▼ -2.93%
• 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

-44.3% since first listed

20 events — show timeline

• 2026-04-14 Price Changed $390,000 HARMLS
• 2025-09-07 Listed $430,000 HARMLS
• 2025-02-03 Listing Removed — HARMLS
• 2024-11-03 Price Changed $470,000 HARMLS
• 2024-09-16 Price Changed $499,000 HARMLS
• 2024-08-28 Price Changed $520,000 HARMLS
• 2024-08-04 Relisted — HARMLS
• 2024-08-04 Price Changed $520,000 HARMLS
• 2024-08-04 Price Changed $540,000 HARMLS
• 2024-08-04 Listing Removed — HARMLS
• 2024-07-28 Listed $560,000 HARMLS
• 2024-07-06 Coming Soon — HARMLS
• 2022-08-11 Listing Removed — HARMLS
• 2022-06-17 Listed $580,000 HARMLS
• 2022-06-16 Listing Removed — HARMLS
• 2022-06-04 Price Changed $649,000 HARMLS
• 2022-06-04 Relisted — HARMLS
• 2022-06-01 Pending — HARMLS
• 2022-05-23 Pending — HARMLS
• 2022-05-05 Listed $700,000 HARMLS