4505 Maggie St Unit A · Houston, TX 77051

$479,000

8 bd · 5.0 ba · 3,656 sqft · MultiFamily public records · 83 Days on market

Built 2006 8,250 sqft lot $131/sqft · at area comps Est $474k · at est.

---

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 +14.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.0/15.0
• DSCR +4.5/10.0
• 1% rule +4.3/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

RARE duplex find next to Downtown, NRG Stadium, the Medical Center, and Pearland Town Center, with easy access to 610 and 288. Each unit offers an impressive layout featuring 4 bedrooms and 3 full bathrooms, with two bedrooms upstairs in the main living area and two bedrooms downstairs. Designed for both comfort and functionality, each unit includes a dedicated dining room, an additional sitting area or office space, large closets, extra storage, and a downstairs laundry area. Both units also feature attached two-car garages and the property is secured with a gated entrance for added privacy. This is a fantastic opportunity for investors or owner-occupants alike. Don’t miss your chance to own a versatile income-producing property in a prime location! Both units are occupied long term with guaranteed government paid housing. Tenant covers all utilities. Rents are below market and have potential to increase. 1 HVAC unit has been replaced in 2023.

Key facts

• Extra storage
• Gated entrance
• Large closets

Tags

• GATED ENTRANCE
• DEDICATED DINING ROOM
• DOWNSTAIRS LAUNDRY AREA
• LARGE CLOSETS
• EXTRA STORAGE
• IMPRESSIVE LAYOUT

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.5-bath units multifamily listed at $479k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/yr) — positive. Per door: $59/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $444k (7.2% below list).
• Recommended offer: $444k (7.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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 (+4.8%/yr); 312 active listings in the ZIP; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $4,445/mo this rent would consume 143% 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 $51k of equity ($3k loan paydown + $48k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 4.8% rent growth), your $134k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$82k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($450k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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 $59k; list at $479k implies a 706% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $444,500 (7.2% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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: 0.93% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.06%
• DSCR: 1.05
• GRM: 9.0

CMA / ARV

• ARV (median comp): $474,128
• List price: $479,000
• Delta: 1.03%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4640 Knoxville St Unit A	0.26mi	8/4.0	3,824 (+5%)	6mo	$399,000	$104	71
4353 Clover St	0.18mi	8/6.0	3,360 (-8%)	4mo	$570,000	$170	70
4505 Phlox St	0.22mi	8/6.0	3,360 (-8%)	6mo	$555,000	$165	67
4629 Phlox St Unit A/B	0.26mi	8/2.0	3,824 (+5%)	19mo	$399,000	$104	52
4216 Sterling St Unit A/B	0.52mi	8/—	3,406 (-7%)	21mo	$560,000	$164	47
8665 Duane St Unit A/B	0.28mi	8/2.0	3,400 (-7%)	23mo	$540,000	$159	44
4650 Phlox St	0.31mi	9/4.0 (+1)	3,186 (-13%)	14mo	$389,000	$122	44

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

Projected returns pro-forma

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

5-year hold

• IRR: 25.7%
• Equity multiple: 3.06×
• Total profit: $276,578
• Equity at exit: $431,521

10-year hold

• IRR: 23.1%
• Equity multiple: 7.16×
• Total profit: $826,356
• Equity at exit: $930,592

Cash invested: $134,120 (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: 18.0×

Monthly cashflow live

• Estimated rent: $4,445 high
• Mortgage (P&I): −$2,512
• Tax from tax record: −$682 /mo · $8,182/yr
• Insurance: −$200
• HOA: −$0
• Vacancy / Maint / Mgmt: −$933
• Net cashflow: $118

Break-even live

Break-even rent $4,295

Max offer price $479,000

Occupancy floor 92%

Sensitivity live

Price	-10% $389	-5% $254	+0% $118	+5% $-17	+10% $-153
Rent	-10% $-233	-5% $-57	+0% $118	+5% $294	+10% $469
Rate	-1.0pp $359	-0.5pp $240	base $118	+0.5pp $-6	+1.0pp $-132

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1.5	$4,446
Total (2 units)			$4,445

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: $119,750
• Closing costs: $14,370
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-18
   days on market $479,000 Active 83 DOM
2. 2026-06-17
   days on market $479,000 Active 82 DOM
3. 2026-06-16
   days on market $479,000 Active 81 DOM
4. 2026-06-15
   days on market $479,000 Active 80 DOM
5. 2026-06-13
   days on market $479,000 Active 78 DOM
6. 2026-06-10
   days on market $479,000 Active 74 DOM
7. 2026-06-08
   days on market $479,000 Active 73 DOM
8. 2026-06-07
   days on market $479,000 Active 72 DOM
9. 2026-06-04
   days on market $479,000 Active 69 DOM
10. 2026-06-01
    days on market $479,000 Active 66 DOM
11. 2026-05-31
    days on market $479,000 Active 65 DOM
12. 2026-04-16
    price $479,000 964-char remark

    Show marketing remark (964 chars)

    RARE duplex find next to Downtown, NRG Stadium, the Medical Center, and Pearland Town Center, with easy access to 610 and 288. Each unit offers an impressive layout featuring 4 bedrooms and 3 full bathrooms, with two bedrooms upstairs in the main living area and two bedrooms downstairs. Designed for both comfort and functionality, each unit includes a dedicated dining room, an additional sitting area or office space, large closets, extra storage, and a downstairs laundry area. Both units also feature attached two-car garages and the property is secured with a gated entrance for added privacy. This is a fantastic opportunity for investors or owner-occupants alike. Don’t miss your chance to own a versatile income-producing property in a prime location! Both units are occupied long term with guaranteed government paid housing. Tenant covers all utilities. Rents are below market and have potential to increase. 1 HVAC unit has been replaced in 2023.

13. 2026-03-27
    listed $499,900 Active 964-char remark

    Show marketing remark (964 chars)

    RARE duplex find next to Downtown, NRG Stadium, the Medical Center, and Pearland Town Center, with easy access to 610 and 288. Each unit offers an impressive layout featuring 4 bedrooms and 3 full bathrooms, with two bedrooms upstairs in the main living area and two bedrooms downstairs. Designed for both comfort and functionality, each unit includes a dedicated dining room, an additional sitting area or office space, large closets, extra storage, and a downstairs laundry area. Both units also feature attached two-car garages and the property is secured with a gated entrance for added privacy. This is a fantastic opportunity for investors or owner-occupants alike. Don’t miss your chance to own a versatile income-producing property in a prime location! Both units are occupied long term with guaranteed government paid housing. Tenant covers all utilities. Rents are below market and have potential to increase. 1 HVAC unit has been replaced in 2023.

14. 2024-07-22
    historical $2,000
15. 2024-06-25
    listed $2,000
16. 2024-06-20
    historical $2,200
17. 2024-05-04
    price $2,200
18. 2024-03-12
    price $2,350
19. 2024-02-02
    price $2,400
20. 2024-01-23
    price $2,500
21. 2024-01-09
    listed $2,600
22. 2023-09-01
    soldstatus
23. 2023-08-25
    soldstatus
24. 2011-12-06
    soldstatus $59,407
25. 2005-01-18
    soldstatus
26. 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: $8,182 · $682/mo
• Projected year-2 tax: $8,766 · $730/mo
• Expected delta: +$584/yr (+$49/mo · 7.1%)

ⓘ 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 · 22 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: $53,340
• − Mortgage interest: −$26,831
• − Property taxes: −$8,182
• − Insurance: −$2,395
• − Repairs & maintenance: −$4,267
• − Management: −$4,267
• − Depreciation: −$13,935
• Taxable loss: −$6,537
• Est. tax savings @ 24.0%: +$1,569
• After-tax cash flow: $2,987/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

+706.3% since first listed

15 events — show timeline

• 2026-04-16 Price Changed $479,000 HARMLS
• 2026-03-27 Listed $499,900 HARMLS
• 2024-07-22 Rental Removed $2,000 HARMLS
• 2024-06-25 Listed for Rent $2,000 HARMLS
• 2024-06-20 Rental Removed $2,200 HARMLS
• 2024-05-04 Price Changed $2,200 HARMLS
• 2024-03-12 Price Changed $2,350 HARMLS
• 2024-02-02 Price Changed $2,400 HARMLS
• 2024-01-23 Price Changed $2,500 HARMLS
• 2024-01-09 Listed for Rent $2,600 HARMLS
• 2023-09-01 Sold (Public Records) — Public Records
• 2023-08-25 Sold (Public Records) — Public Records
• 2011-12-06 Sold (Public Records) $59,407 Public Records
• 2005-01-18 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+1.7%/yr

Latest (2025): $8,182 · +1.4% YoY. Source: county tax records.