3917 Harrisburg Blvd · Houston, TX 77003

$259,000

None bd · None ba · 2,880 sqft · MultiFamily · 84 Days on market

Built 1935 Fair condition 4,067 sqft lot $90/sqft · 45% below area Est $475k · 45% under ↓ 20% since listing

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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 +19.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.2/10.0
• Livability +3.7/5.0
• Condition / age +2.2/5.0
• Rent growth +2.1/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

Perfect location minutes from Downtown! Several new developments are happening now in the East End! Get in now while prices are still reasonable! Large regional grocer recently announced a new anchor development nearby! Perfect set up for short term and or long term rentals, student housing… Or possible professional office; law office, cpa… many possibilities- work downstairs / live upstairs or rent 100-% Excellent investment opportunity for an owner occupant user or investor! Properly renovated multi family properties within the immediate area have consistently sold for over $200/SF! Big ARV potential! Ideal for an experienced buyer!

Key facts

• Spacious balcony
• Gated
• 4,067 sq ft lot

Tags

• SPACIOUS BALCONY
• FULLY FENCED PROPERTY
• GATED

What this means for you Summary

Snapshot

• This is a multifamily listed at $259k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $259k).
• Recommended offer: $243k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 3.0% 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: Lantrip El (math 19% / reading 28%, grade F, #3,247 of 4,322 statewide, top 76%, 519 students, 83% FRL); Navarro Middle (math 8% / reading 13%, grade F, #1,639 of 1,662 statewide, top 99%, 547 students, 98% FRL); Austin H S (math 9% / reading 18%, grade F, #1,530 of 1,632 statewide, top 94%, 1,448 students, 97% FRL) — zoned schools average 93% FRL vs 71% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 31% district-wide (-15 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 soft (-1.6%/yr); 315 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 81d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 38% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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

• It's been on market 84 days — a 6% lower offer ($243k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $116k (31%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $243,460 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% 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 1935 — 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: 1.02% ✓
• Cap rate: 7.63%
• Cash-on-cash: 4.76%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

• ARV (median comp): $475,108
• List price: $259,000
• Delta: -45.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4209 Walker St	0.22mi	8/4.0	2,822 (-2%)	19mo	$699,000	$248	70
134 N Milby St	0.37mi	2/1.0	2,995 (+4%)	9mo	$350,000	$117	68
4305 Polk St	0.44mi	9/1.0	2,874 (-0%)	18mo	$488,000	$170	64
15 Stiles St	0.67mi	3/2.0	2,936 (+2%)	3mo	$524,000	$178	63
118 N Hagerman St	0.54mi	5/3.0	2,519 (-12%)	5mo	$450,000	$179	49
102 S Lockwood Dr	0.50mi	1/1.0	3,180 (+10%)	13mo	$650,000	$204	48
320 York St	0.33mi	—/2.0	2,555 (-11%)	24mo	$749,777	$293	46
4337 Jefferson St	0.74mi	4/2.0	2,660 (-8%)	12mo	$475,000	$179	43

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.57×
• Total profit: $-31,304
• Equity at exit: $38,618

10-year hold

• IRR: -8.5%
• Equity multiple: 0.54×
• Total profit: $-33,278
• Equity at exit: $22,394

Cash invested: $72,520 (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 →

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

Active competition Active MLS

• For sale now: 14 active · 4 under contract
• Months of supply: 28.0 mo (4%/mo absorbed)
• Median asking: $624,944 ($202/sqft)
• Median days on market: 129 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -18.5% vs current asking $/sqft

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

ZIP-level market 77003

• Home prices YoY: -29.2%
• Rents YoY: -1.6%
• Active inventory: 315
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,630 high
• Mortgage (P&I): −$1,358
• Tax est. 1.5%: −$324 /mo · $3,885/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $288

Break-even live

Break-even rent $2,266

Max offer price $259,000

Occupancy floor 84%

Sensitivity live

Price	-10% $467	-5% $377	+0% $288	+5% $198	+10% $109
Rent	-10% $80	-5% $184	+0% $288	+5% $392	+10% $496
Rate	-1.0pp $418	-0.5pp $354	base $288	+0.5pp $221	+1.0pp $152

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: $64,750
• Closing costs: $7,770
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
224 Grace St #6 Houston, TX	2.0	1.0	—	$950	—	79d	1	0.10mi
220 Milby St Houston, TX	1.0	1.0	—	$1,175	—	165d	1	0.18mi
4203 Rusk St Unit 1 Houston, TX	1.0	1.0	—	$1,300	—	99d	1	0.18mi
807 Cullen Blvd Unit 2 Houston, TX	2.0	1.0	—	$1,195	—	165d	1	0.19mi
421 Sidney St Unit 1/2 Houston, TX	2.0	1.0	—	$1,200	—	128d	1	0.20mi
421 Sidney St Unit 1/2 Houston, TX	2.0	1.0	—	$1,200	—	165d	1	0.20mi
421 Sidney St Unit 1/2 Houston, TX	2.0	1.0	—	$1,200	—	148d	1	0.20mi
407 Sidney St Houston, TX	2.0	1.0	—	$2,000	—	184d	1	0.20mi
3626 Harrisburg Blvd #126 Houston, TX	1.0	1.0	716	$1,633	$2.28	0d	1	0.21mi
3626 Harrisburg Blvd Houston, TX	1.0	1.0	716	$962	$1.34	10d	1	0.21mi
3626 Harrisburg Blvd #230 Houston, TX	2.0	2.0	1029	$1,843	$1.79	0d	1	0.21mi
808 Oakhurst St Unit 2 Houston, TX	2.0	2.0	900	$1,500	$1.67	2d	1	0.21mi
808 Oakhurst St Unit 2 Houston, TX	2.0	2.0	1922	$1,500	$0.78	3d	1	0.21mi
214 Sidney St Unit 1/2 Houston, TX	—	1.0	—	$950	—	3d	1	0.21mi
115 Hunt St Houston, TX	1.0	1.0	—	$1,250	—	128d	1	0.21mi
4306 Wilmer St Unit 2 Houston, TX	1.0	1.0	—	$1,100	—	10d	1	0.22mi
4313 Harrisburg Blvd Unit 4 Houston, TX	1.0	1.0	—	$895	—	10d	1	0.22mi
309 Hutcheson St Unit 1 Houston, TX	—	1.0	—	$915	—	10d	1	0.23mi
309 Hutcheson St Unit 4 Houston, TX	1.0	1.0	—	$935	—	95d	1	0.23mi
309 Hutcheson St Unit 8 Houston, TX	1.0	1.0	—	$935	—	184d	1	0.23mi
3580 Harrisburg Blvd Houston, TX	2.0	2.0	1029	$1,242	$1.21	7d	1	0.24mi
3580 Harrisburg Blvd Houston, TX	1.0	1.0	716	$896	$1.25	10d	1	0.24mi
316 Eastwood St Unit 1 Houston, TX	1.0	1.0	—	$977	—	65d	1	0.25mi
4206 Walker St Unit B Houston, TX	2.0	1.0	—	$950	—	165d	1	0.25mi
4206 Walker St Unit B Houston, TX	2.0	1.0	—	$950	—	81d	1	0.25mi
3562 Harrisburg Blvd Unit 118 Houston, TX	1.0	1.0	683	$910	$1.33	114d	1	0.25mi
3562 Harrisburg Blvd Houston, TX	2.0	2.0	1029	$1,242	$1.21	10d	1	0.25mi
3562 Harrisburg Blvd Houston, TX	1.0	1.0	716	$962	$1.34	3d	1	0.25mi
104 Estelle St Houston, TX	2.0	2.5	—	$1,950	—	57d	1	0.26mi
104 Estelle St Houston, TX	2.0	2.5	—	$2,150	—	65d	1	0.26mi
3548 Harrisburg Blvd Houston, TX	1.0	1.0	722	$1,090	$1.51	77d	1	0.26mi
4105 McKinney St Unit B Houston, TX	1.0	1.0	—	$1,600	—	184d	1	0.26mi
4209 McKinney St Unit 2 Houston, TX	1.0	1.0	—	$2,500	—	184d	1	0.27mi
317 Eastwood St Unit C Houston, TX	1.0	1.0	—	$1,100	—	159d	1	0.27mi
3530 Harrisburg Blvd Houston, TX	2.0	2.0	1029	$1,678	$1.63	10d	1	0.28mi
4009 Lamar St Unit A Houston, TX	2.0	2.0	1368	$1,599	$1.17	115d	1	0.30mi
4009 Lamar St Unit B Houston, TX	1.0	1.0	613	$899	$1.47	80d	1	0.30mi
4009 Lamar St Unit C Houston, TX	1.0	1.0	613	$999	$1.63	156d	1	0.30mi
4219 Lamar St Unit 4219A Houston, TX	1.0	1.0	—	$799	—	10d	1	0.31mi
5 Hunt St Houston, TX	2.0	1.0	—	$1,250	—	99d	1	0.32mi

Property features AI

Finance

• Financial info: 4 total unitsLiving area of 2,880Lot area approximately 4,067 square feetAnnual tax amount: $6,350 (2025)

Exterior

• Security: Security gate
• Home design: Residential income propertyFaces southBuilt in 1935
• Construction: Cement siding
• Exterior features: Security gateBuilt-up roof

Interior

• Interior features: Seller disclosure available

Listing history 50 events

1. 2026-11-08
   days on market $259,000 Active 84 DOM
2. 2026-11-07
   days on market $259,000 Active 83 DOM
3. 2026-11-06
   days on market $259,000 Active 82 DOM
4. 2026-11-05
   days on market $259,000 Active 81 DOM
5. 2026-11-04
   days on market $259,000 Active 80 DOM
6. 2026-11-02
   days on market $259,000 Active 78 DOM
7. 2026-11-01
   days on market $259,000 Active 77 DOM
8. 2026-10-31
   days on market $259,000 Active 76 DOM
9. 2026-10-30
   days on market $259,000 Active 75 DOM
10. 2026-10-29
    days on market $259,000 Active 74 DOM
11. 2026-10-28
    days on market $259,000 Active 73 DOM
12. 2026-10-27
    days on market $259,000 Active 72 DOM
13. 2026-10-26
    days on market $259,000 Active 71 DOM
14. 2026-10-26
    days on market $259,000 Active 70 DOM
15. 2026-10-24
    days on market $259,000 Active 69 DOM
16. 2026-10-23
    days on market $259,000 Active 68 DOM
17. 2026-10-22
    days on market $259,000 Active 67 DOM
18. 2026-10-21
    days on market $259,000 Active 66 DOM
19. 2026-10-20
    days on market $259,000 Active 65 DOM
20. 2026-10-19
    days on market $259,000 Active 64 DOM
21. 2026-10-18
    days on market $259,000 Active 63 DOM
22. 2026-10-17
    days on market $259,000 Active 62 DOM
23. 2026-10-16
    days on market $259,000 Active 61 DOM
24. 2026-10-15
    days on market $259,000 Active 60 DOM
25. 2026-10-14
    days on market $259,000 Active 59 DOM
26. 2026-10-13
    days on market $259,000 Active 58 DOM
27. 2026-10-12
    days on market $259,000 Active 57 DOM
28. 2026-10-11
    days on market $259,000 Active 56 DOM
29. 2026-10-10
    days on market $259,000 Active 55 DOM
30. 2026-10-09
    days on market $259,000 Active 54 DOM
31. 2026-10-08
    days on market $259,000 Active 53 DOM
32. 2026-10-07
    days on market $259,000 Active 52 DOM
33. 2026-10-06
    days on market $259,000 Active 51 DOM
34. 2026-10-05
    days on market $259,000 Active 50 DOM
35. 2026-10-04
    days on market $259,000 Active 49 DOM
36. 2026-10-04
    days on market $259,000 Active 48 DOM
37. 2026-10-03
    pricestatus $259,000 Active 47 DOM
38. 2026-08-25
    status $299,900 Pending 47 DOM
39. 2026-08-25
    days on market $299,900 Active 47 DOM
40. 2026-08-24
    days on market $299,900 Active 46 DOM
41. 2026-08-23
    statusdays on market $299,900 Active 45 DOM
42. 2026-07-02
    status $299,900 Pending 44 DOM
43. 2026-07-01
    days on market $299,900 Active 44 DOM
44. 2026-06-30
    days on market $299,900 Active 43 DOM
45. 2026-06-29
    days on market $299,900 Active 42 DOM
46. 2026-06-28
    days on market $299,900 Active 41 DOM
47. 2026-06-27
    days on market $299,900 Active 40 DOM
48. 2026-06-26
    days on market $299,900 Active 39 DOM
49. 2026-06-24
    days on market $299,900 Active 37 DOM
50. 2026-06-22
    days on market $299,900 Active 35 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 25 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: $31,561
• − Mortgage interest: −$14,508
• − Property taxes: −$3,885
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,525
• − Management: −$2,525
• − Depreciation: −$7,535
• Taxable loss: −$712
• Est. tax savings @ 24.0%: +$171
• After-tax cash flow: $3,625/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 · 3 photos

Fair 45/100 Moderate rehab Est. rehab $72,000–$129,600 screening

This multi-family property requires significant exterior and interior repairs and updates to improve its condition and value. Potential buyers should consider the extensive work needed to bring it up to current standards.

Repairs flagged

• Major exterior siding — Significant wear and tear
• Major roof — Aged appearance
• Major flooring — Likely outdated and in need of replacement
• Major interior walls/paint — Likely outdated and in need of repainting
• Major systems — Likely outdated and in need of replacement

Value-add opportunities

• Both exterior siding — Enhances curb appeal and value ↑
• Both roof — Improves structural integrity and value ↑
• Both flooring — Enhances living space and value ↑
• Both interior walls/paint — Enhances living space and value ↑
• Both systems — Improves functionality and value ↑

ⓘ Rehab cost is a screening estimate — Moderate 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 16/100

Zoned Schools

Elementary Lantrip El F TX #3,247/4,322 Nat'l #31,549/41,679 Middle Navarro Middle F TX #1,639/1,662 Nat'l #13,275/14,009 High Austin H S F TX #1,530/1,632 Nat'l #15,655/17,239

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

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): 10,164
• Household income: $83,980
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 6% 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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 35% White 33% Black 21% Two or more races 20% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 24% Puerto Rican 2% Cuban 2%
• Languages at home: 69% English-only · Spanish 27% Korean 2% Other Asian/Pacific 1%

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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: ▼ -53.64%
• Current HPI: 130.0078
• Rent YoY: ▼ -1.65%
• Metro: Houston-The Woodlands-Sugar Land, TX
• 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

Finance

• Financial info: 4 total unitsLiving area of 2,880Lot area approximately 4,067 square feetAnnual tax amount: $6,350 (2025)

Exterior

• Security: Security gate
• Home design: Residential income propertyFaces southBuilt in 1935
• Construction: Cement siding
• Exterior features: Security gateBuilt-up roof

Interior

• Interior features: Seller disclosure available

Price history

-20.0% since first listed

5 events — show timeline

• 2026-07-01 Pending — HARMLS
• 2026-06-08 Price Changed $299,900 HARMLS
• 2026-06-02 Relisted — HARMLS
• 2026-05-31 Pending — HARMLS
• 2026-05-18 Listed $375,000 HARMLS