2405 Mann St · Houston, TX 77093

$149,497

2 bd · 1.0 ba · 1,209 sqft · SingleFamily public records · 62 Days on market

Built 1947 0.34 ac lot $124/sqft · 46% below area Est $275k · 46% under ↓ 35% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +8.1/30.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• 1% rule +3.4/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

10 minutes to downtown, hot area. 16,652 SF lot with 111’ frontage on Mann St. The possibilities are endless with the vision Fresh remodel or add onto the land. Development all around the area

Key facts

• 0.34 acre lot
• Garage
• Built 1947

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $-145 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $124k (17.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (16.2% below list).
• Recommended offer: $124k (17.1% below list) — sets the bar for cash-flow.
• Cap rate 5.1% 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: 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 rising fast (+5.3%/yr); 148 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).
• This rent runs 32% of the median local income ($47k/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 $1k of loan paydown is wiped out by about $4k 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 62 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1947 — 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 $123,910 (17.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1947 — 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. 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?
9. 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.
10. 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.
11. 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: 0.84% ✗
• Cap rate: 5.13%
• Cash-on-cash: -4.15%
• DSCR: 0.82
• GRM: 9.9

CMA / ARV

• ARV (median comp): $274,574
• List price: $149,497
• Delta: -45.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2405 Mann St	0.00mi	2/1.0	1,209 (0%)	1mo	$149,497	$124	99
2612 Deams St	0.20mi	3/2.0 (+1)	1,218 (+1%)	0mo	$280,000	$230	80
2630 Keeland St	0.38mi	3/1.0 (+1)	1,200 (-1%)	5mo	$249,000	$208	72
7618 Schneider St	0.33mi	3/2.0 (+1)	1,176 (-3%)	12mo	$299,000	$254	61
8106 Schneider Sts	0.18mi	3/2.0 (+1)	1,325 (+10%)	12mo	$230,000	$174	57
1820 Eubanks St	0.22mi	3/2.0 (+1)	1,150 (-5%)	21mo	$220,000	$191	55
6903 Semmes St	0.70mi	3/1.0 (+1)	1,350 (+12%)	3mo	$399,900	$296	40
7110 Eugene St	0.60mi	3/1.0 (+1)	1,098 (-9%)	14mo	$190,777	$174	40
8802 Burden St	0.65mi	3/1.0 (+1)	1,287 (+6%)	18mo	$254,500	$198	39

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 · 5.31% rent growth · sell at horizon

5-year hold

• IRR: -20.4%
• Equity multiple: 0.27×
• Total profit: $-30,391
• Equity at exit: $22,290

10-year hold

• IRR: -8.7%
• Equity multiple: 0.40×
• Total profit: $-25,201
• Equity at exit: $12,926

Cash invested: $41,859 (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 77093

• Home prices YoY: -9.9%
• Rents YoY: 5.3%
• Active inventory: 148
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,252 high
• Mortgage (P&I): −$784
• Tax from tax record: −$288 /mo · $3,456/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $-145

Break-even live

Break-even rent $1,436

Max offer price $123,910

Occupancy floor —

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: $37,374
• Closing costs: $4,485
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7506 Jensen Dr Houston, TX	1.0–2.0	1.0–2.0	772	$1,160	$1.50	4d	12	0.48mi
7301 Jensen Dr Unit 50 Houston, TX	2.0	1.0	880	$999	$1.14	8d	1	0.55mi
7301 Jensen Dr Apt 12 Houston, TX	2.0	1.0	880	$930	$1.06	8d	1	0.55mi
7320 Jensen Dr Houston, TX	1.0–3.0	1.0–2.0	935	$1,010	$1.08	2d	5	0.58mi
6869 Arto St Houston, TX	1.0–2.0	1.0	900	$950	$1.06	17d	6	0.78mi
6918 Irvington Blvd Houston, TX	2.0	2.0	1100	$1,550	$1.41	44d	1	1.01mi
2110 Melbourne St Unit 3 Houston, TX	2.0	1.0	825	$1,350	$1.64	24d	1	1.06mi
3107 Melbourne St Houston, TX	3.0	1.0	956	$1,500	$1.57	44d	1	1.12mi
2006 Tidwell Rd Houston, TX	2.0	2.0	1035	$1,075	$1.04	44d	1	1.14mi
2530 Aldon St Unit 2530B Houston, TX	2.0	1.5	1100	$1,300	$1.18	44d	1	1.19mi
3810 Lynnfield St Houston, TX	3.0	2.0	1298	$1,599	$1.23	15d	1	1.20mi
3812 Lynnfield St Houston, TX	3.0	2.0	1298	$1,545	$1.19	5d	1	1.21mi
9100 Dodson St Unit 16 Houston, TX	2.0	1.0	850	$1,050	$1.24	44d	1	1.26mi
9100 Dodson St Unit 17 Houston, TX	2.0	1.0	850	$1,050	$1.24	24d	1	1.26mi
9100 Dodson St Unit 1 Houston, TX	2.0	1.0	850	$1,195	$1.41	5d	1	1.26mi
4326 Plaag St Unit B Houston, TX	3.0	2.5	1150	$1,595	$1.39	44d	1	1.29mi
534 Firnat St Houston, TX	3.0	2.0	1397	$1,900	$1.36	44d	1	1.36mi
534 Firnat St Unit NA Houston, TX	3.0	2.0	1397	$1,900	$1.36	24d	1	1.36mi
965 Tidwell Rd Houston, TX	3.0	2.0	1145	$1,309	$1.14	21d	1	1.36mi
965 Tidwell Rd Houston, TX	2.0	2.0	933	$1,109	$1.19	24d	1	1.36mi
8855 McGallion Rd Houston, TX	1.0–2.0	1.0–2.0	751	$1,303	$1.73	15d	16	1.37mi
8855 McGallion Rd Houston, TX	1.0–2.0	1.0–2.0	751	$1,303	$1.73	44d	6	1.37mi
4422 Weaver Rd Apt 707 Houston, TX	2.0	1.0	765	$1,110	$1.45	44d	1	1.38mi
8210 Bauman Rd Houston, TX	2.0	2.0	852	$1,190	$1.40	44d	1	1.40mi
4442 Weaver Rd Unit 707 Houston, TX	2.0	1.0	765	$1,110	$1.45	24d	1	1.45mi
819 Tidwell Rd #819 Houston, TX	2.0	1.5	1100	$1,300	$1.18	44d	1	1.45mi

Listing history 9 events

1. 2026-05-06
   status Pending 201-char remark

   Show marketing remark (201 chars)

   10 minutes to downtown, hot area. 16,652 SF lot with 111’ frontage on Mann St. The possibilities are endless with the vision Fresh remodel or add onto the land. Development all around the area

2. 2026-04-30
   price $149,497 201-char remark

   Show marketing remark (201 chars)

   10 minutes to downtown, hot area. 16,652 SF lot with 111’ frontage on Mann St. The possibilities are endless with the vision Fresh remodel or add onto the land. Development all around the area

3. 2026-04-16
   price $159,497 201-char remark

   Show marketing remark (201 chars)

   10 minutes to downtown, hot area. 16,652 SF lot with 111’ frontage on Mann St. The possibilities are endless with the vision Fresh remodel or add onto the land. Development all around the area

4. 2026-04-06
   price $179,497 201-char remark

   Show marketing remark (201 chars)

   10 minutes to downtown, hot area. 16,652 SF lot with 111’ frontage on Mann St. The possibilities are endless with the vision Fresh remodel or add onto the land. Development all around the area

5. 2026-03-23
   price $199,497 201-char remark

   Show marketing remark (201 chars)

   10 minutes to downtown, hot area. 16,652 SF lot with 111’ frontage on Mann St. The possibilities are endless with the vision Fresh remodel or add onto the land. Development all around the area

6. 2026-03-04
   listed $229,497 Active 201-char remark

   Show marketing remark (201 chars)

   10 minutes to downtown, hot area. 16,652 SF lot with 111’ frontage on Mann St. The possibilities are endless with the vision Fresh remodel or add onto the land. Development all around the area

7. 2018-09-21
   soldstatus
8. 2018-09-17
   soldstatus
9. 1988-01-02
   soldstatus

ⓘ 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: $3,456 · $288/mo
• Projected year-2 tax: $3,456 · $288/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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: $15,030
• − Mortgage interest: −$8,374
• − Property taxes: −$3,456
• − Insurance: −$747
• − Repairs & maintenance: −$1,202
• − Management: −$1,202
• − Depreciation: −$4,349
• Taxable loss: −$4,302
• Est. tax savings @ 24.0%: +$1,032
• After-tax cash flow: $-706/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): 46,407
• Household income: $46,766
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 1815.0

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 (82%)
• Race & ethnicity: Hispanic / Latino 82% Two or more races 24% Black 11% White 6% Native American 1%
• Hispanic origin (detail): Mexican 70%
• Foreign-born: 34% · Canada
• Languages at home: 30% English-only · Spanish 70%

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: ▼ -30.53%
• Current HPI: 277.4914
• Rent YoY: ▲ 5.31%
• 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

-34.9% since first listed

9 events — show timeline

• 2026-05-06 Pending — HARMLS
• 2026-04-30 Price Changed $149,497 HARMLS
• 2026-04-16 Price Changed $159,497 HARMLS
• 2026-04-06 Price Changed $179,497 HARMLS
• 2026-03-23 Price Changed $199,497 HARMLS
• 2026-03-04 Listed $229,497 HARMLS
• 2018-09-21 Sold (Public Records) — Public Records
• 2018-09-17 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+8.3%/yr

Latest (2025): $3,456 · +15.6% YoY. Source: county tax records.