6712 Fulton St · Houston, TX 77022

$320,000

4 bd · 3.0 ba · 1,940 sqft · MultiFamily public records · 3 Days on market

Built 1939 5,866 sqft lot Est $285k · 12% 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 +21.3/30.0
• DSCR +6.8/10.0
• 1% rule +5.5/10.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

Opportunity awaits with this triplex in Houston's rapidly growing Near Northside area! Featuring three income-producing units, this property offers a mix of charm and functionality with wood, tile and vinyl plank flooring, central HVAC, and washer/dryer connections. The larger unit offers 2 bedrooms and 1 bath while the other 2 units are 1 bedroom and 1 bath. Situated on a 5,866 sq. ft. lot with convenient access to I-45, 610, Downtown Houston, Hardy Yards, and major employment centers, this property is ideally located for tenants seeking easy commuting options. Whether you're looking to expand your investment portfolio, live in one unit while generating rental income from the others, or ca

Key facts

• Central hvac
• Triplex
• 5,866 sq ft lot

Tags

• TRIPLEX
• INCOME PRODUCING UNITS
• WOOD TILE VINYL PLANK FLOORING
• CENTRAL HVAC
• WASHER DRYER CONNECTIONS
• CONVENIENT ACCESS TO I-45

Property features AI

Exterior

• Parking: Carport; Paved parking
• Security: Fire alarm
• Utilities: Electricity available; Natural gas available; Water available
• Home design: Residential income property; Built in 1939
• Construction: Vinyl siding; Composition roof
• Exterior features: Fire alarm

Interior

• Kitchen: Dishwasher
• Bedrooms: Three units total: one 2-bedroom unit, one 1-bedroom unit, and two 1-bedroom units (total of 3 units)
• Flooring: Carpet; Plank; Tile; Vinyl; Wood / Hardwood
• Bathrooms: One full bathroom (total)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Window treatments and coverings; Ceiling fans
• Laundry & utility: Washer hookup; Dryer hookup

What this means for you Summary

Snapshot

• This is a 1×2bd/1.0ba + 2×1bd/1.0ba units multifamily listed at $320k.

Deal economics

• At list price, monthly cash flow is $470 ($6k/yr) — positive. Per door: $157/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $320k).
• Cap rate 8.1% 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: Roosevelt El (math 32% / reading 37%, grade F, #1,995 of 4,322 statewide, top 50%, 421 students, 84% FRL); Burbank Middle (math 37% / reading 42%, grade F, #660 of 1,662 statewide, top 41%, 1,417 students, 96% FRL); Northside H S (math 15% / reading 26%, grade F, #1,389 of 1,632 statewide, top 86%, 1,168 students, 94% FRL) — zoned schools average 91% FRL vs 71% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.5%/yr); 285 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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).
• At $3,353/mo this rent would consume 76% of the median local household income ($53k/yr) (locally 1354% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 19y 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

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $320,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.05% ✓
• Cap rate: 8.06%
• Cash-on-cash: 6.30%
• DSCR: 1.28
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $285,180
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1411 E 36th St	0.41mi	3/1.0 (-1)	1,800 (-7%)	7mo	$199,000	$111	50
7206 Helmers St Unit A	0.67mi	3/1.0 (-1)	2,030 (+5%)	2mo	$299,000	$147	46

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

Projected returns pro-forma

-3.0% appreciation · 4.47% rent growth · sell at horizon

5-year hold

• IRR: -5.0%
• Equity multiple: 0.81×
• Total profit: $-16,832
• Equity at exit: $47,713

10-year hold

• IRR: 6.4%
• Equity multiple: 1.51×
• Total profit: $45,321
• Equity at exit: $27,668

Cash invested: $89,600 (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 77022

• Home prices YoY: -33.2%
• Rents YoY: 4.5%
• Active inventory: 285
• Price-to-rent: 22.2×

Monthly cashflow live

• Estimated rent: $3,353 high
• Mortgage (P&I): −$1,678
• Tax from tax record: −$367 /mo · $4,404/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$704
• Net cashflow: $470

Break-even live

Break-even rent $2,758

Max offer price $320,000

Occupancy floor 81%

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

Units	Beds	Baths	Est. rent
1× unit	2	1	$1,201
▸ 2× units	1	1	$2,152
Total (3 units)			$3,353

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
162 Wallace St Houston, TX	3.0	2.0	2542	$2,050	$0.81	44d	1	0.29mi
1420 E 31st St Houston, TX	3.0	2.5	1980	$2,600	$1.31	44d	1	0.46mi
1420 E 31st St Houston, TX	3.0	2.5	1790	$2,600	$1.45	24d	1	0.46mi
1204 E 29th St Houston, TX	3.0	2.5	2151	$8,750	$4.07	44d	1	0.70mi
1204 E 29th St Unit 1018984P Houston, TX	3.0	2.5	2142	$10,290	$4.80	44d	1	0.70mi
705 Link Rd Houston, TX	3.0	3.5	1850	$2,600	$1.41	8d	1	0.83mi
4132 Europa St Houston, TX	3.0	2.0	1259	$1,430	$1.14	13d	1	0.87mi
823 North Loop Unit A Houston, TX	3.0	2.0	1532	$2,500	$1.63	24d	1	0.90mi
1614 Northwood St Houston, TX	3.0	3.5	2300	$2,850	$1.24	44d	1	0.92mi
770 Strawberry Pines Ct Houston, TX	2.0–3.0	2.5	1422	$2,735	$1.92	1d	12	0.94mi
3514 Ajax St Unit 1047956P Houston, TX	3.0	2.5	1689	$3,114	$1.84	8d	1	0.99mi
538 E 38th St Houston, TX	3.0	2.5	1521	$2,300	$1.51	44d	1	1.13mi
4311 Busiek St Houston, TX	4.0	2.0	1890	$2,200	$1.16	44d	1	1.15mi
4605 Fisk St Houston, TX	3.0	2.0	1628	$3,000	$1.84	44d	1	1.20mi
1141 Louise St Houston, TX	4.0	4.0	2228	$4,000	$1.80	44d	1	1.27mi
1416 Fairbanks St Houston, TX	4.0	3.5	1888	$1,899	$1.01	8d	1	1.35mi
8502 N Main St Houston, TX	3.0	2.0	1514	$1,685	$1.11	21d	1	1.38mi
210 E 28th St Houston, TX	3.0	3.5	2448	$3,100	$1.27	44d	1	1.47mi

Listing history 4 events

1. 2026-06-18
   days on market $320,000 Active 3 DOM
2. 2026-06-17
   days on market $320,000 Active 2 DOM
3. 2026-06-16
   remarks 699-char remark
4. 2026-06-16
   listed $320,000 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: $4,404 · $367/mo
• Projected year-2 tax: $5,856 · $488/mo
• Expected delta: +$1,452/yr (+$121/mo · 33.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (shaded) · 18% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,236
• − Mortgage interest: −$17,925
• − Property taxes: −$4,404
• − Insurance: −$1,600
• − Repairs & maintenance: −$3,219
• − Management: −$3,219
• − Depreciation: −$9,309
• Taxable income: $560
• Est. tax owed @ 24.0%: −$134
• After-tax cash flow: $5,510/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): 25,805
• Household income: $52,739
• Rent vs Own: 49.6% rent · 50.4% own
• Severe rent burden: 1354.0

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 24% Black 19% White 7% Native American 1%
• Hispanic origin (detail): Mexican 54%
• Common ancestry: Romanian 1% Portuguese 1%
• Foreign-born: 30% · Canada, Jamaica
• Languages at home: 40% English-only · Spanish 59%

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: ▼ -151.13%
• Current HPI: 304.3745
• Rent YoY: ▲ 4.47%
• 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

+113.5% since first listed

10 events — show timeline

• 2026-06-16 Listed $320,000 HARMLS
• 2026-06-16 Coming Soon $320,000 HARMLS
• 2015-04-14 Sold (Public Records) — Public Records
• 2008-08-14 Listing Removed — HARMLS
• 2008-01-10 Listed $117,777 HARMLS
• 2007-12-02 Listing Removed — HARMLS
• 2007-06-06 Listed $124,777 HARMLS
• 2007-05-12 Listing Removed — HARMLS
• 2007-03-04 Listed $149,900 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+2.8%/yr

Latest (2025): $4,404 · +1.6% YoY. Source: county tax records.