335 Delaware St · Houston, TX 77029

$135,000

2 bd · 1.0 ba · 784 sqft · SingleFamily public records · 2 Days on market

Built 1940 5,000 sqft lot Est $141k · at est.

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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 +18.3/30.0
• Appreciation +10.0/10.0
• ARV discount +9.5/15.0
• DSCR +5.7/10.0
• 1% rule +4.7/10.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great investment opportunity or ideal setup for a large family seeking to have 2 homes together. This unique offering includes 335 Delaware St. and 705 Fidelity St. , Houston, TX 77029. The two houses are being sold together under one deed and one HCAD account number. Both houses have 2 bedrooms, 1 bathroom, and own separate power meter. Total living area of the 2 houses is 1684 sqft. Don't miss this opportunity!

Key facts

• 5,000 sq ft lot
• Built 1940

Property features AI

Finance

• Financial info: Lease considered

Exterior

• Utilities: Public water; Public sewer; Has electric cooling (window units)
• Home design: Residential property; Entry level: first floor
• Construction: Built in 1940; Brick, vinyl siding, and wood siding exterior; Slab foundation; Composition roof
• Exterior features: Subdivision lot

Interior

• Kitchen: Kitchen (first floor, approx. 11 x 10); Electric range
• Bedrooms: Primary bedroom (first floor, approx. 14 x 12); Bedroom (first floor, approx. 10 x 10); Total of 4 rooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Window cooling units
• Interior features: Electric range

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $123 ($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 $132k (2.5% below list).
• Recommended offer: $132k (2.5% 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.
• Galena Park ISD (suburban): math 32% / reading 33% proficiency, ranked #578 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Jacinto City El (math 31% / reading 32%, grade F, #2,396 of 4,322 statewide, top 56%, 714 students, 89% FRL); Galena Park Middle (math 28% / reading 31%, grade F, #1,077 of 1,662 statewide, top 66%, 943 students, 88% FRL); Galena Park H S (math 37% / reading 36%, grade F, #924 of 1,632 statewide, top 57%, 1,914 students, 87% FRL).
• Market conditions: 153 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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 $14k of equity ($933 loan paydown + $14k 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 $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.
• Current owner paid $9k; list at $135k implies a 1400% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,605 (2.5% below list)

Questions for the listing agent

1. Built in 1940 — 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 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: 0.97% ✗
• Cap rate: 7.39%
• Cash-on-cash: 3.90%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $141,120
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
421 De Haven St	0.12mi	2/1.0	768 (-2%)	4mo	$138,000	$180	87
411 Owens St	0.20mi	2/1.0	720 (-8%)	13mo	$100,000	$139	66
2105 12th St	0.73mi	2/1.5	810 (+3%)	9mo	$163,000	$201	51
1407 Craig Dr	0.56mi	2/1.0	872 (+11%)	10mo	$161,500	$185	47
153 De Haven St	0.30mi	2/1.0	880 (+12%)	23mo	$150,000	$170	46
2107 7th St	0.70mi	2/1.0	889 (+13%)	21mo	$140,000	$157	27

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: 27.1%
• Equity multiple: 3.15×
• Total profit: $81,361
• Equity at exit: $121,619

10-year hold

• IRR: 23.7%
• Equity multiple: 7.18×
• Total profit: $233,460
• Equity at exit: $262,275

Cash invested: $37,800 (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 77029

• Home prices YoY: 7.2%
• Active inventory: 153
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,316 high
• Mortgage (P&I): −$708
• Tax from tax record: −$153 /mo · $1,831/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $123

Break-even live

Break-even rent $1,161

Max offer price $135,000

Occupancy floor 86%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
335 Delaware St Houston, TX	2.0	1.0	784	$940	$1.20	13d	1	0.04mi
403 Armstrong St Houston, TX	3.0	2.0	909	$1,435	$1.58	5d	1	0.07mi
423 Armstrong St Houston, TX	3.0	2.0	1090	$1,515	$1.39	2d	1	0.09mi
9743 Veyblum St Unit B Houston, TX	3.0	2.0	872	$1,145	$1.31	5d	1	0.83mi
9713 Stedman St Unit b Houston, TX	3.0	2.0	872	$1,095	$1.26	44d	1	0.98mi
9806 Fillmore St Houston, TX	2.0	2.0	850	$1,850	$2.18	44d	1	1.42mi

Listing history 9 events

1. 2026-06-18
   days on market $135,000 Active 2 DOM
2. 2026-06-17
   remarks 416-char remark
3. 2026-06-17
   days on marketlisting id $135,000 Active 1 DOM
4. 2026-06-16
   days on market $135,000 Active 5 DOM
5. 2026-06-16
   remarks 368-char remark
6. 2026-06-15
   days on market $135,000 Active 4 DOM
7. 2026-06-13
   days on market $135,000 Active 2 DOM
8. 2026-06-13
   remarks 319-char remark
9. 2026-06-13
   listed $135,000 Active 1 DOM

ⓘ 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: $1,831 · $153/mo
• Projected year-2 tax: $2,470 · $206/mo
• Expected delta: +$639/yr (+$53/mo · 34.9%)

ⓘ 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) · 71% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 23 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: $15,793
• − Mortgage interest: −$7,562
• − Property taxes: −$1,831
• − Insurance: −$675
• − Repairs & maintenance: −$1,263
• − Management: −$1,263
• − Depreciation: −$3,927
• Taxable loss: −$730
• Est. tax savings @ 24.0%: +$175
• After-tax cash flow: $1,650/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: Galena Park ISD
• NCES district ID: 4820250
• Math proficiency: 32% ▼ -20.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $43,158
• Composite: 27.62/100
• National rank: #6927
• State rank: #578 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

+1400.0% since first listed

7 events — show timeline

• 2026-06-11 Listed $135,000 HARMLS
• 2026-06-11 Rental Removed $940 Avail
• 2026-06-05 Listed for Rent $940 Avail
• 2026-06-04 Rental Removed $940 HARMLS
• 2026-05-30 Listed for Rent $940 HARMLS
• 2025-04-09 Sold (Public Records) — Public Records
• 1988-01-18 Sold (Public Records) $9,000 Public Records

Property tax history

+6.2%/yr

Latest (2025): $1,831 · +1.9% YoY. Source: county tax records.