335 Delaware St · Houston, TX 77029

$135,000

2 bd · 1.0 ba · 1,684 sqft · MultiFamily public records · 64 Days on market

Built 1940 Good condition 5,000 sqft lot $80/sqft · 61% below area

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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 +28.7/30.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Schools +3.2/10.0
• Rent growth +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
• Listed 63 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $450 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $127k (6.0% below list) — sets the bar for market timing.

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: 220 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 63d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $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 ~2 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

• It's been on market 64 days — a 6% lower offer ($127k) is reasonable based on typical stale-listing flexibility.
• 4 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 $126,900 (6.0% below list)

Questions for the listing agent

1. It's been on market 64 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.28% ✓
• Cap rate: 10.29%
• Cash-on-cash: 14.28%
• DSCR: 1.64
• GRM: 6.5

CMA / ARV

• ARV (median comp): $345,700
• List price: $135,000
• Delta: -60.95%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
149 Georgia St	0.41mi	2/1.0	1,470 (-13%)	3mo	$194,000	$132	57
408 Armstrong St Unit A B	0.13mi	3/2.0 (+1)	2,014 (+20%)	21mo	$400,000	$199	42
408 Armstrong St Unit C D	0.13mi	3/2.0 (+1)	2,014 (+20%)	22mo	$400,000	$199	42
9804 Pelsey St Unit A-B	0.59mi	3/2.0 (+1)	2,014 (+20%)	11mo	$375,000	$186	30
9806 Pelsey St Unit A-B	0.59mi	3/2.0 (+1)	2,014 (+20%)	13mo	$375,000	$186	28

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: 34.8%
• Equity multiple: 3.70×
• Total profit: $102,195
• Equity at exit: $121,619

10-year hold

• IRR: 30.0%
• Equity multiple: 8.37×
• Total profit: $278,447
• 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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 1 active · 1 under contract
• Months of supply: 2.0 mo (50%/mo absorbed)
• Median asking: $360,000 ($179/sqft)
• Median days on market: 6 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +14.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77029

• Home prices YoY: 7.2%
• Active inventory: 220
• Price-to-rent: 13.0×

Monthly cashflow live

• Estimated rent: $1,730 high
• Mortgage (P&I): −$708
• Tax from tax record: −$153 /mo · $1,831/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$363
• Net cashflow: $450

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,730
Total (2 units)			$1,730

Break-even live

Break-even rent $1,161

Max offer price $135,000

Occupancy floor 69%

Sensitivity live

Price	-10% $526	-5% $488	+0% $450	+5% $412	+10% $373
Rent	-10% $313	-5% $382	+0% $450	+5% $518	+10% $587
Rate	-1.0pp $518	-0.5pp $484	base $450	+0.5pp $415	+1.0pp $379

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
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
335 Delaware St Houston, TX	2.0	1.0	882	$790	$0.90	31d	1	0.04mi
335 Delaware St Houston, TX	2.0	1.0	784	$940	$1.20	108d	1	0.04mi
705 Fidelity St Houston, TX	2.0	1.0	860	$890	$1.03	59d	1	0.05mi
403 Armstrong St Houston, TX	3.0	2.0	909	$1,149	$1.26	38d	1	0.07mi
423 Armstrong St Houston, TX	3.0	2.0	1090	$1,365	$1.25	62d	1	0.09mi
229 De Haven St Unit B Houston, TX	3.0	2.0	980	$1,199	$1.22	45d	1	0.25mi
9839 Racine St Houston, TX	3.0	2.0	768	$1,100	$1.43	45d	1	0.74mi
9743 Veyblum St Unit B Houston, TX	3.0	2.0	872	$1,145	$1.31	101d	1	0.83mi
9713 Stedman St Unit b Houston, TX	3.0	2.0	872	$1,095	$1.26	139d	1	0.98mi
1303 9th St Galena Park, TX	1.0	1.0	552	$850	$1.54	63d	1	1.31mi
9312 Manchester St Houston, TX	3.0	2.0	900	$1,750	$1.94	60d	1	1.42mi
9806 Fillmore St Houston, TX	2.0	2.0	850	$1,850	$2.18	139d	1	1.42mi

Property features AI

Exterior

• Utilities: Has cooling (window units)
• Home design: Residential income propertyTwo total units
• Construction: Built in 1940Brick, vinyl siding, and wood siding exterior
• Exterior features: Composition roofLot is 5,000 square feet

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Window cooling units
• Interior features: Seller disclosure available

Listing history 50 events

1. 2026-08-19
   days on market $135,000 Active 64 DOM
2. 2026-08-18
   days on market $135,000 Active 63 DOM
3. 2026-08-17
   days on market $135,000 Active 62 DOM
4. 2026-08-16
   days on market $135,000 Active 61 DOM
5. 2026-08-15
   days on market $135,000 Active 60 DOM
6. 2026-08-14
   days on market $135,000 Active 59 DOM
7. 2026-08-13
   days on market $135,000 Active 58 DOM
8. 2026-08-12
   days on market $135,000 Active 57 DOM
9. 2026-08-11
   days on market $135,000 Active 56 DOM
10. 2026-08-10
    days on market $135,000 Active 55 DOM
11. 2026-08-09
    days on market $135,000 Active 54 DOM
12. 2026-08-08
    days on market $135,000 Active 53 DOM
13. 2026-08-06
    days on market $135,000 Active 51 DOM
14. 2026-08-05
    days on market $135,000 Active 50 DOM
15. 2026-08-04
    days on market $135,000 Active 49 DOM
16. 2026-08-03
    days on market $135,000 Active 48 DOM
17. 2026-07-31
    days on market $135,000 Active 45 DOM
18. 2026-07-30
    days on market $135,000 Active 43 DOM
19. 2026-07-28
    days on market $135,000 Active 42 DOM
20. 2026-07-26
    days on market $135,000 Active 40 DOM
21. 2026-07-24
    days on market $135,000 Active 38 DOM
22. 2026-07-23
    days on market $135,000 Active 37 DOM
23. 2026-07-22
    days on market $135,000 Active 36 DOM
24. 2026-07-21
    days on market $135,000 Active 35 DOM
25. 2026-07-20
    days on market $135,000 Active 34 DOM
26. 2026-07-18
    days on market $135,000 Active 32 DOM
27. 2026-07-18
    days on market $135,000 Active 31 DOM
28. 2026-07-16
    days on market $135,000 Active 30 DOM
29. 2026-07-15
    days on market $135,000 Active 29 DOM
30. 2026-07-14
    days on market $135,000 Active 28 DOM
31. 2026-07-13
    days on market $135,000 Active 27 DOM
32. 2026-07-13
    days on market $135,000 Active 26 DOM
33. 2026-07-11
    days on market $135,000 Active 25 DOM
34. 2026-07-10
    days on market $135,000 Active 24 DOM
35. 2026-07-09
    days on market $135,000 Active 23 DOM
36. 2026-07-07
    days on market $135,000 Active 21 DOM
37. 2026-07-06
    days on market $135,000 Active 20 DOM
38. 2026-07-06
    days on market $135,000 Active 19 DOM
39. 2026-07-05
    days on market $135,000 Active 18 DOM
40. 2026-07-03
    days on market $135,000 Active 17 DOM
41. 2026-07-02
    days on market $135,000 Active 16 DOM
42. 2026-07-01
    days on market $135,000 Active 15 DOM
43. 2026-06-30
    days on market $135,000 Active 14 DOM
44. 2026-06-29
    days on market $135,000 Active 13 DOM
45. 2026-06-28
    days on market $135,000 Active 12 DOM
46. 2026-06-27
    days on market $135,000 Active 11 DOM
47. 2026-06-26
    days on market $135,000 Active 10 DOM
48. 2026-06-24
    days on market $135,000 Active 8 DOM
49. 2026-06-22
    days on market $135,000 Active 6 DOM
50. 2026-06-21
    days on market $135,000 Active 5 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) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $20,760
• − Mortgage interest: −$7,562
• − Property taxes: −$1,831
• − Insurance: −$675
• − Repairs & maintenance: −$1,661
• − Management: −$1,661
• − Depreciation: −$3,927
• Taxable income: $3,443
• Est. tax owed @ 24.0%: −$826
• After-tax cash flow: $4,573/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 · 8 photos

Good 75/100 Cosmetic rehab Est. rehab $8,420–$25,260 screening

This property is in good condition with minimal maintenance required. It offers a good investment opportunity with potential for both resale and rental value through simple exterior updates.

Components & finishes AI

Roof asphalt shingle · good Flooring laminate

Deferred maintenance Est. $2,500–$10,000 screening

• Minor Roof (roof) — No visible signs of damage or wear
• Minor Windows (windows) — No visible signs of damage or wear
• Minor Electrical (electrical) — No visible signs of damage or wear
• Minor Plumbing (plumbing) — No visible signs of damage or wear
• Minor Exterior (exterior) — No visible signs of damage or wear

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean gutters — Improves drainage and can prevent water damage, increasing both resale and rental value. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 32/100

Zoned Schools

Elementary Jacinto City El F TX #2,396/4,322 Nat'l #25,956/41,679 Middle Galena Park Middle F TX #1,077/1,662 Nat'l #9,020/14,009 High Galena Park H S F TX #924/1,632 Nat'l #9,347/17,239

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

B Composite livability gradescore 74/100

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 · 5,571,493 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: 21% of renters

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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%

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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%

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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: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

Property features AI

Exterior

• Utilities: Has cooling (window units)
• Home design: Residential income propertyTwo total units
• Construction: Built in 1940Brick, vinyl siding, and wood siding exterior
• Exterior features: Composition roofLot is 5,000 square feet

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Window cooling units
• Interior features: Seller disclosure available

Price history

+1400.0% since first listed

9 events — show timeline

• 2026-06-16 Listed $135,000 HARMLS
• 2026-06-16 Listing Removed — HARMLS
• 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.