3612 Crane St · Houston, TX 77026

$90,000

1 bd · 1.0 ba · 728 sqft · MultiFamily public records · 189 Days on market

Built 1955 Est $120k · 25% under

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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 +18.8/30.0
• ARV discount +15.0/15.0
• Appreciation +6.9/10.0
• DSCR +5.9/10.0
• 1% rule +5.2/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Investors special, one bedroom one bath in Houston’s Kashmere Gardens. Home needs work, sold AS-IS. Sqft and lot size is approximate, buyer and buyer’s agent to verify.

Key facts

• Built 1955
• Listed 188 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $90k.

Deal economics

• At list price, monthly cash flow is $-336 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $31k (65.9% below list).
• Meets the 1% rule at list price ($919 rent vs $90k).
• Recommended offer: $31k (65.9% below list) — sets the bar for cash-flow.
• Cap rate 7.5% vs local median 3.1% 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 (+3.1%/yr); 445 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($622 loan paydown + $4k appreciation (3.9% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $30,668 (65.9% 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 189 days. Have you received any prior offers? Is the seller open to a 66% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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 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: 7.50%
• Cash-on-cash: 4.32%
• DSCR: 1.19
• GRM: 8.2

CMA / ARV

• ARV (median comp): $120,423
• List price: $90,000
• Delta: -25.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4611 W Hunting St	0.44mi	2/1.0 (+1)	720 (-1%)	2mo	$250,000	$347	71

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

Projected returns pro-forma

3.89% appreciation · 3.08% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.77×
• Total profit: $-5,867
• Equity at exit: $45,068

10-year hold

• IRR: 1.0%
• Equity multiple: 1.18×
• Total profit: $4,456
• Equity at exit: $73,267

Cash invested: $25,200 (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 77026

• Home prices YoY: 1.5%
• Rents YoY: 3.1%
• Active inventory: 445
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $919 high
• Mortgage (P&I): −$472
• Tax from tax record: −$126 /mo · $1,509/yr
• Insurance: −$38
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $-336

Break-even live

Break-even rent $1,344

Max offer price $30,668

Occupancy floor —

Sensitivity live

Price	-10% $-285	-5% $-310	+0% $-336	+5% $-361	+10% $-387
Rent	-10% $-408	-5% $-372	+0% $-336	+5% $-300	+10% $-263
Rate	-1.0pp $-291	-0.5pp $-313	base $-336	+0.5pp $-359	+1.0pp $-383

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3019 Florida St Houston, TX	2.0	1.0	576	$950	$1.65	44d	1	0.62mi
3813 Wipprecht St Houston, TX	2.0	1.0	750	$1,200	$1.60	25d	1	0.70mi
3814 Wipprecht St Unit 18B Houston, TX	1.0	1.0	750	$700	$0.93	16d	1	0.74mi
3806 Wipprecht St Houston, TX	1.0	1.0	750	$700	$0.93	14d	1	0.74mi
5006 Cavalcade St Apt 2 Houston, TX	1.0	1.0	541	$850	$1.57	44d	1	0.87mi
3502 Campbell St Houston, TX	2.0	1.0	725	$800	$1.10	44d	1	0.92mi
1710 Shelby St Houston, TX	2.0	1.0	688	$1,250	$1.82	44d	1	1.01mi
3919 Elysian St Unit 4 Houston, TX	1.0	1.0	650	$1,250	$1.92	44d	1	1.05mi
5430 Makeig St Houston, TX	2.0	1.0	749	$650	$0.87	25d	1	1.11mi
5436 Makeig St Houston, TX	2.0	1.0	749	$650	$0.87	25d	1	1.12mi
5117 Lavender St Houston, TX	2.0	1.0	740	$1,040	$1.41	8d	4	1.12mi
5117 Lavender St Houston, TX	2.0–3.0	1.0	780	$1,040	$1.33	20d	2	1.12mi
5117 Lavender St Houston, TX	2.0	1.0	740	$1,065	$1.44	16d	8	1.12mi
5462 Makeig St Houston, TX	2.0	1.0	749	$650	$0.87	25d	1	1.14mi
3031 Sumpter St Unit 50 Houston, TX	2.0	1.0	732	$1,200	$1.64	25d	1	1.15mi
3031 Sumpter St Houston, TX	1.0	1.0	502	$850	$1.69	25d	1	1.15mi
3031 Sumpter St Houston, TX	1.0	1.0	502	$850	$1.69	14d	1	1.15mi
1911 Benson St Unit 1 Houston, TX	1.0	1.0	460	$795	$1.73	19d	1	1.16mi
1911 Benson St Unit 4 Houston, TX	1.0	1.0	460	$795	$1.73	6d	1	1.16mi
1909 Benson St Houston, TX	1.0	1.0	460	$795	$1.73	19d	1	1.16mi
5504 Morwood St Houston, TX	2.0	1.0	749	$850	$1.13	25d	1	1.18mi
5510 Morwood St Houston, TX	2.0	1.0	749	$650	$0.87	25d	1	1.20mi
5514 Morgood St Houston, TX	2.0	1.0	749	$650	$0.87	44d	1	1.21mi
3816 Gano St Unit B Houston, TX	1.0	1.0	700	$1,150	$1.64	44d	1	1.25mi
2202 Solo St Houston, TX	2.0	1.0	620	$1,200	$1.94	44d	1	1.32mi
4903 Noble St Houston, TX	2.0	1.0	525	$1,200	$2.29	44d	1	1.33mi
3802 Dabney St Houston, TX	1.0–2.0	1.0	825	$990	$1.20	44d	2	1.46mi

Listing history 16 events

1. 2026-06-18
   days on market $90,000 Active 189 DOM
2. 2026-06-17
   days on market $90,000 Active 188 DOM
3. 2026-06-16
   days on market $90,000 Active 187 DOM
4. 2026-06-15
   days on market $90,000 Active 186 DOM
5. 2026-06-13
   days on market $90,000 Active 184 DOM
6. 2026-06-10
   days on market $90,000 Active 180 DOM
7. 2026-06-08
   days on market $90,000 Active 179 DOM
8. 2026-06-07
   days on market $90,000 Active 178 DOM
9. 2026-06-04
   days on market $90,000 Active 175 DOM
10. 2026-06-01
    days on market $90,000 Active 172 DOM
11. 2026-05-31
    days on market $90,000 Active 171 DOM
12. 2026-04-22
    status Active 180-char remark

    Show marketing remark (180 chars)

    Investors special, one bedroom one bath in Houston’s Kashmere Gardens. Home needs work, sold AS-IS. Sqft and lot size is approximate, buyer and buyer’s agent to verify.

13. 2026-02-03
    historical Active Under Contract 180-char remark

    Show marketing remark (180 chars)

    Investors special, one bedroom one bath in Houston’s Kashmere Gardens. Home needs work, sold AS-IS. Sqft and lot size is approximate, buyer and buyer’s agent to verify.

14. 2026-01-27
    price $90,000 180-char remark

    Show marketing remark (180 chars)

    Investors special, one bedroom one bath in Houston’s Kashmere Gardens. Home needs work, sold AS-IS. Sqft and lot size is approximate, buyer and buyer’s agent to verify.

15. 2025-12-11
    listed $85,000 Active 180-char remark

    Show marketing remark (180 chars)

    Investors special, one bedroom one bath in Houston’s Kashmere Gardens. Home needs work, sold AS-IS. Sqft and lot size is approximate, buyer and buyer’s agent to verify.

16. 1988-05-11
    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: $1,509 · $126/mo
• Projected year-2 tax: $1,647 · $137/mo
• Expected delta: +$138/yr (+$12/mo · 9.2%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 21% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,026
• − Mortgage interest: −$5,041
• − Property taxes: −$1,509
• − Insurance: −$5,568
• − Repairs & maintenance: −$882
• − Management: −$882
• − Depreciation: −$2,618
• Taxable loss: −$5,475
• Est. tax savings @ 24.0%: +$1,314
• After-tax cash flow: $-2,716/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): 21,981
• Household income: $39,211
• Rent vs Own: 56.3% rent · 43.7% own
• Severe rent burden: 1531.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 49% Hispanic / Latino 44% Two or more races 18% White 5% Native American 1%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 61% English-only · Spanish 39%

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: ▲ 3.89%
• Current HPI: 267.5995
• Rent YoY: ▲ 3.08%
• 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

+5.9% since first listed

5 events — show timeline

• 2026-04-22 Relisted — HARMLS
• 2026-02-03 Contingent — HARMLS
• 2026-01-27 Price Changed $90,000 HARMLS
• 2025-12-11 Listed $85,000 HARMLS
• 1988-05-11 Sold (Public Records) — Public Records

Property tax history

+8.7%/yr

Latest (2025): $1,509 · -23.3% YoY. Source: county tax records.