4502 Aledo St · Houston, TX 77051

$519,000

2 bd · 1.0 ba · 708 sqft · MultiFamily public records · 37 Days on market

Built 2026 5,200 sqft lot

---

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).

• Appreciation +10.0/10.0
• Cash flow +8.5/30.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.6/10.0

Multi-family units

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

Listing remarks

New Under Construction Duplex Estimated Completion: Summer 2026 Experience modern urban living with built-in investment potential in this beautifully designed new construction duplex, ideally located just minutes from Downtown Houston and the Texas Medical Center. Each thoughtfully crafted unit features 3 spacious bedrooms, 2.5 bathrooms, a private entrance, open-concept living spaces, and sleek contemporary finishes designed for both comfort and style. Whether you’re looking to house hack, accommodate multi-generational living, or generate immediate rental income, this property offers exceptional flexibility and long-term value. Live in one unit and lease the other — all whi

Key facts

• New construction
• Private entrance
• 5,200 sq ft lot

Tags

• PRIVATE ENTRANCE
• OPEN-CONCEPT FLOOR PLAN
• CONTEMPORARY FINISHES
• NEW CONSTRUCTION

Property features AI

Exterior

• Utilities: Has heating and cooling
• Home design: Residential income property; New construction (2026)
• Construction: Built in 2026; Cement siding; Composition roof
• Exterior features: 5,200 square foot lot

Interior

• Bedrooms: Unit 1 includes 3 bedrooms; Total of 2 units
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central air conditioning (electric)
• Interior features: Residential income property with two units; Under construction (new construction)

🏗️ New construction. The $519,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $452,965.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.5-bath units multifamily listed at $519k.

Deal economics

• At list price, monthly cash flow is $-397 ($-5k/yr) — negative. Per door: $-198/mo.
• To cash-flow at today's rent, offer at most $383k (26.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $298k (42.7% below list).
• Recommended offer: $298k (42.7% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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: 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: Attucks Middle (math 15% / reading 22%, grade F, #1,478 of 1,662 statewide, top 90%, 439 students, 98% FRL); Worthing H S (math 22% / reading 21%, grade F, #1,377 of 1,632 statewide, top 85%, 827 students, 96% FRL) — zoned schools average 97% FRL vs 71% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.8%/yr); 312 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 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).
• At $2,976/mo this rent would consume 95% of the median local household income ($37k/yr) (locally 1446% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $48k of equity ($3k loan paydown + $45k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$78k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($503k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 12y 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.
• Current owner paid $52k; list at $519k implies a 889% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate 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 $297,600 (42.7% 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 37 days. Have you received any prior offers? Is the seller open to a 43% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 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: 0.66% ✗
• Cap rate: 5.24%
• Cash-on-cash: -3.75%
• DSCR: 0.83
• GRM: 12.7

CMA / ARV

• ARV (median comp): $452,965
• List price: $519,000
• Delta: 14.58%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 4.77% rent growth · sell at horizon

5-year hold

• IRR: 22.1%
• Equity multiple: 2.79×
• Total profit: $226,645
• Equity at exit: $408,067

10-year hold

• IRR: 20.2%
• Equity multiple: 6.51×
• Total profit: $698,675
• Equity at exit: $880,012

Cash invested: $126,830 (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 77051

• Home prices YoY: 9.7%
• Rents YoY: 4.8%
• Active inventory: 312
• Price-to-rent: 29.1×

Monthly cashflow live

• Estimated rent: $2,976 medium
• Mortgage (P&I): −$2,375
• Tax from tax record: −$183 /mo · $2,201/yr
• Insurance: −$189
• HOA: −$0
• Vacancy / Maint / Mgmt: −$625
• Net cashflow: $-397

Break-even live

Break-even rent $3,478

Max offer price $382,919

Occupancy floor —

Sensitivity live

Price	-10% $-140	-5% $-268	+0% $-397	+5% $-525	+10% $-653
Rent	-10% $-632	-5% $-514	+0% $-397	+5% $-279	+10% $-161
Rate	-1.0pp $-168	-0.5pp $-281	base $-397	+0.5pp $-514	+1.0pp $-633

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$2,976
Total (2 units)			$2,976

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: $113,241
• Closing costs: $13,589
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4207 Phlox St Unit 1 BEDROOM 4 Houston, TX	1.0	1.0	650	$660	$1.02	44d	1	0.60mi
4207 Phlox St Houston, TX	2.0	1.0	736	$962	$1.31	0d	2	0.60mi
4205 Phlox St Unit 2 BEDROOM 6 Houston, TX	2.0	1.0	736	$860	$1.17	18d	1	0.61mi
1600 Jester St Houston, TX	1.0	1.0	641	$1,195	$1.86	0d	3	0.90mi
5042 Mallow St Houston, TX	2.0	1.0	672	$995	$1.48	6d	1	0.95mi
4205 Grassmere St Houston, TX	1.0	1.0	680	$800	$1.18	44d	1	1.00mi
5010 Carmen St Houston, TX	2.0	1.0	672	$1,095	$1.63	44d	1	1.00mi
4923 Paula St Apt 2 Houston, TX	2.0	1.0	672	$1,095	$1.63	3d	1	1.02mi
4112 Grassmere St Houston, TX	2.0	1.0	711	$700	$0.98	11d	1	1.05mi
5038 Carmen St Apt 1 Houston, TX	2.0	1.0	672	$1,095	$1.63	3d	1	1.05mi
7316 La Salette St Houston, TX	2.0	1.0	513	$1,100	$2.14	25d	1	1.36mi

Listing history 30 events

1. 2026-06-18
   days on market $519,000 Active 37 DOM
2. 2026-06-17
   days on market $519,000 Active 36 DOM
3. 2026-06-16
   days on market $519,000 Active 35 DOM
4. 2026-06-15
   days on market $519,000 Active 34 DOM
5. 2026-06-13
   days on market $519,000 Active 32 DOM
6. 2026-06-10
   days on market $519,000 Active 28 DOM
7. 2026-06-08
   days on market $519,000 Active 27 DOM
8. 2026-06-07
   days on market $519,000 Active 26 DOM
9. 2026-06-04
   days on market $519,000 Active 23 DOM
10. 2026-06-01
    days on market $519,000 Active 20 DOM
11. 2026-05-31
    days on market $519,000 Active 19 DOM
12. 2026-05-12
    listed $519,000 Active 1000-char remark
13. 2026-05-12
    historical
14. 2026-05-12
    listed $519,000 Active
15. 2025-09-30
    soldstatus
16. 2025-08-28
    soldstatus
17. 2018-08-27
    soldstatus
18. 2018-08-24
    soldstatus Sold
19. 2018-08-02
    status Pending
20. 2018-07-25
    status Option Pending
21. 2018-03-01
    listed $55,000 Active
22. 2015-04-10
    historical
23. 2014-10-20
    price $46,200
24. 2014-03-18
    listed $38,500 Active
25. 2013-03-01
    soldstatus
26. 2006-05-23
    soldstatus $52,457
27. 2006-01-31
    soldstatus
28. 2004-07-02
    soldstatus
29. 2002-05-21
    soldstatus
30. 1995-01-02
    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: $2,201 · $183/mo
• Projected year-2 tax: $9,498 · $791/mo
• Expected delta: +$7,297/yr (+$608/mo · 331.5%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 51% 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: $35,712
• − Mortgage interest: −$25,373
• − Property taxes: −$2,201
• − Insurance: −$2,265
• − Repairs & maintenance: −$2,857
• − Management: −$2,857
• − Depreciation: −$13,177
• Taxable loss: −$13,018
• Est. tax savings @ 24.0%: +$3,124
• After-tax cash flow: $-1,634/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): 19,795
• Household income: $37,415
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 1446.0

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 Black (77%)
• Race & ethnicity: Black 77% Hispanic / Latino 16% Two or more races 11% White 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 10%

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: ▲ 16.02%
• Current HPI: 180.4283
• Rent YoY: ▲ 4.77%
• 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

+889.4% since first listed

19 events — show timeline

• 2026-05-12 Listed $519,000 HARMLS
• 2026-05-12 Listing Removed — HARMLS
• 2026-05-12 Listed $519,000 HARMLS
• 2025-09-30 Sold (Public Records) — Public Records
• 2025-08-28 Sold (Public Records) — Public Records
• 2018-08-27 Sold (Public Records) — Public Records
• 2018-08-24 Sold (MLS) — HARMLS
• 2018-08-02 Pending — HARMLS
• 2018-07-25 Pending — HARMLS
• 2018-03-01 Listed $55,000 HARMLS
• 2015-04-10 Listing Removed — HARMLS
• 2014-10-20 Price Changed $46,200 HARMLS
• 2014-03-18 Listed $38,500 HARMLS
• 2013-03-01 Sold (Public Records) — Public Records
• 2006-05-23 Sold (Public Records) $52,457 Public Records
• 2006-01-31 Sold (Public Records) — Public Records
• 2004-07-02 Sold (Public Records) — Public Records
• 2002-05-21 Sold (Public Records) — Public Records
• 1995-01-02 Sold (Public Records) — Public Records

Property tax history

+8.4%/yr

Latest (2025): $2,201 · +21.9% YoY. Source: county tax records.