2404 Russell St · Houston, TX 77026

$69,500

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 31 Days on market

Built 1940 5,998 sqft lot $76/sqft · 34% below area Est $106k · 34% under ↓ 44% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +6.9/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks

Investor special in the rapidly developing Fifth Ward area! This property is being sold as-is and will require significant repairs and renovation. Great opportunity for an investor, builder, or buyer looking for a full rehab project or redevelopment opportunity. Situated on a 6,000 sq ft lot with convenient access to Downtown Houston, I-10, and major freeways. Property also features a large 4-car carport, offering ample covered parking or workspace potential, as well as an approximately 8x8 storage shed in the backyard for additional storage or project use. Bring your vision and contractor. No repairs will be made by seller.

Key facts

• 5,998 sq ft lot
• Built 1940
• Listed 31 days

Property features AI

Finance

• Other: Total living area approximately 912; Lot approximately 6,000 sq ft (0.1377 acres)
• Financial info: Lease not considered

Exterior

• Utilities: Public sewer
• Home design: Residential property; Single-story (first-floor living); Built in 1940
• Construction: Block foundation; Composition roof; Construction materials: Unknown
• Exterior features: Located in a subdivision

Interior

• Bedrooms: Three first-floor bedrooms (approx. 10x11, 10x11, 11x12)
• Bathrooms: One full bathroom (first floor, approx. 5x8)
• Heating & cooling: Central heating (gas); Central cooling (gas)
• Interior features: Seller disclosure available

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $67k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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: 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: Fleming Middle (math 10% / reading 15%, grade F, #1,616 of 1,662 statewide, top 97%, 384 students, 97% FRL); Wheatley H S (math 17% / reading 19%, grade F, #1,445 of 1,632 statewide, top 89%, 643 students, 95% FRL) — zoned schools average 96% FRL vs 71% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 31% district-wide (-16 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 rising (+3.1%/yr); 445 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $3k of equity ($481 loan paydown + $3k appreciation (3.9% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.9% appreciation + 3.1% rent growth), your $19k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 10, 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 31 days — a 3% lower offer ($67k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $67,415 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.54% ✓
• Cap rate: 11.32%
• Cash-on-cash: 17.94%
• DSCR: 1.80
• GRM: 5.4

CMA / ARV

• ARV (median comp): $105,727
• List price: $69,500
• Delta: -34.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2315 Bringhurst St	0.22mi	2/1.0	930 (+2%)	12mo	$59,000	$63	76
2235 Hutton St	0.12mi	2/2.0	840 (-8%)	9mo	$72,000	$86	70
2112 Des Chaumes St	0.48mi	2/2.5	955 (+5%)	1mo	$239,900	$251	63
2116 Des Chaumes St	0.48mi	2/2.5	955 (+5%)	5mo	$240,000	$251	60
3208 Sumpter St	0.49mi	2/1.0	799 (-12%)	1mo	$147,000	$184	56
4313 Engleford St	0.67mi	3/1.0 (+1)	900 (-1%)	11mo	$139,900	$155	53
2114 Des Chaumes St	0.48mi	2/2.5	1,000 (+10%)	10mo	$235,000	$235	48
1618 Capron St	0.52mi	3/1.0 (+1)	990 (+9%)	12mo	$120,000	$121	47
3011 Retta St	0.54mi	3/1.0 (+1)	792 (-13%)	6mo	$85,000	$107	43
4314 Rawley St	0.42mi	3/1.0 (+1)	1,048 (+15%)	9mo	$195,900	$187	43
3117 Solo St	0.70mi	2/1.0	1,003 (+10%)	11mo	$110,000	$110	42
4415 Lyons Ave	0.62mi	2/2.0	1,032 (+13%)	13mo	$215,000	$208	34

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: 26.3%
• Equity multiple: 2.56×
• Total profit: $30,387
• Equity at exit: $34,803

10-year hold

• IRR: 26.3%
• Equity multiple: 5.03×
• Total profit: $78,457
• Equity at exit: $56,579

Cash invested: $19,460 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,073 high
• Mortgage (P&I): −$364
• Tax from tax record: −$163 /mo · $1,961/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $291

Break-even live

Break-even rent $705

Max offer price $69,500

Occupancy floor 68%

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: $17,375
• Closing costs: $2,085
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3502 Campbell St Houston, TX	2.0	1.0	725	$800	$1.10	43d	1	0.25mi
3019 Florida St Houston, TX	2.0	1.0	576	$950	$1.65	43d	1	0.54mi
3031 Sumpter St Unit 50 Houston, TX	2.0	1.0	732	$1,200	$1.64	24d	1	0.55mi
3730 Lyons Ave Unit 216 Houston, TX	3.0	2.0	1107	$1,300	$1.17	43d	1	0.58mi
2202 Solo St Houston, TX	2.0	1.0	620	$1,200	$1.94	43d	1	0.65mi
4903 Noble St Houston, TX	2.0	1.0	525	$1,200	$2.29	43d	1	0.66mi
3805 Wipprecht St Houston, TX	2.0	1.0	768	$1,100	$1.43	18d	1	0.87mi
3813 Wipprecht St Houston, TX	2.0	1.0	750	$1,200	$1.60	24d	1	0.89mi
3806 Wipprecht St Houston, TX	1.0	1.0	750	$700	$0.93	13d	1	0.91mi
3814 Wipprecht St Unit 18B Houston, TX	1.0	1.0	750	$700	$0.93	15d	1	0.92mi
4203 Hirsch Rd Unit 5 Houston, TX	2.0	1.0	758	$950	$1.25	43d	1	1.00mi
2704 Sam Wilson St Unit 1391353P Houston, TX	2.0	2.0	1001	$1,916	$1.91	7d	1	1.03mi
1714 Mary St Houston, TX	2.0	2.0	1100	$2,400	$2.18	43d	1	1.04mi
5504 Morwood St Houston, TX	2.0	1.0	749	$850	$1.13	24d	1	1.12mi
5510 Morwood St Houston, TX	2.0	1.0	749	$650	$0.87	24d	1	1.14mi
5408 Market St Unit 5408-1 Houston, TX	2.0	1.0	730	$900	$1.23	5d	1	1.16mi
5514 Morgood St Houston, TX	2.0	1.0	749	$650	$0.87	43d	1	1.16mi
4111 Cavalcade St Unit 5 Houston, TX	2.0	1.0	757	$825	$1.09	43d	1	1.16mi
5436 Makeig St Houston, TX	2.0	1.0	749	$650	$0.87	24d	1	1.19mi
5430 Makeig St Houston, TX	2.0	1.0	749	$650	$0.87	24d	1	1.21mi
5462 Makeig St Houston, TX	2.0	1.0	749	$650	$0.87	24d	1	1.23mi
5006 Cavalcade St Apt 2 Houston, TX	1.0	1.0	541	$850	$1.57	43d	1	1.27mi
4249 Clinton Dr Houston, TX	1.0	1.0	692	$1,950	$2.82	2d	1	1.29mi
5506 Crane St Apt 2 Houston, TX	2.0	1.0	800	$750	$0.94	43d	1	1.31mi
1519 McKee St Unit 5 Houston, TX	1.0	1.0	650	$1,200	$1.85	14d	1	1.42mi
1556 Leona St Houston, TX	1.0	1.0	905	$1,505	$1.66	43d	1	1.42mi
1710 Shelby St Houston, TX	2.0	1.0	688	$1,250	$1.82	43d	1	1.43mi
2209 Gano St Unit 4 Houston, TX	2.0	1.0	700	$1,250	$1.79	43d	1	1.45mi
2209 Gano St Unit 3 Houston, TX	2.0	1.0	700	$1,200	$1.71	43d	1	1.45mi
3802 Dabney St Houston, TX	1.0–2.0	1.0	825	$990	$1.20	43d	2	1.47mi
3802 Dabney St Houston, TX	2.0	1.0	910	$875	$0.96	2d	1	1.47mi
1550 Leona St Houston, TX	1.0–2.0	1.0–2.0	835	$1,905	$2.28	1d	19	1.49mi
3822 Dabney St Unit 2 BEDROOM 3 Houston, TX	2.0	1.0	756	$985	$1.30	43d	1	1.49mi

Listing history 17 events

1. 2026-06-18
   days on market $69,500 Active 31 DOM
2. 2026-06-18
   price $69,500 Active 30 DOM
3. 2026-06-17
   days on market $79,990 Active 30 DOM
4. 2026-06-16
   days on market $79,990 Active 29 DOM
5. 2026-06-15
   days on market $79,990 Active 28 DOM
6. 2026-06-13
   days on market $79,990 Active 26 DOM
7. 2026-06-10
   days on market $79,990 Active 22 DOM
8. 2026-06-08
   days on market $79,990 Active 21 DOM
9. 2026-06-07
   days on market $79,990 Active 20 DOM
10. 2026-06-04
    days on market $79,990 Active 17 DOM
11. 2026-06-01
    days on market $79,990 Active 14 DOM
12. 2026-05-31
    remarks 632-char remark
13. 2026-05-31
    days on market $79,990 Active 13 DOM
14. 2026-05-18
    listed $89,900 Active 532-char remark
15. 2026-05-18
    price $89,900 532-char remark
16. 2026-05-11
    historical $125,000 532-char remark
17. 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: $1,961 · $163/mo
• Projected year-2 tax: $1,961 · $163/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 (shaded) · 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,876
• − Mortgage interest: −$3,893
• − Property taxes: −$1,961
• − Insurance: −$348
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$2,022
• Taxable income: $2,593
• Est. tax owed @ 24.0%: −$622
• After-tax cash flow: $2,868/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

-44.4% since first listed

6 events — show timeline

• 2026-06-18 Price Changed $69,500 HARMLS
• 2026-05-28 Price Changed $79,990 HARMLS
• 2026-05-18 Listed $89,900 HARMLS
• 2026-05-18 Price Changed $89,900 HARMLS
• 2026-05-11 Coming Soon $125,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+5.9%/yr

Latest (2025): $1,961 · +1.6% YoY. Source: county tax records.