789 Fortune St Unit A-B · Houston, TX 77088

$419,750

6 bd · 6.0 ba · 2,656 sqft · MultiFamily · 6 Days on market

Built 2026 Good condition 3,600 sqft lot ↓ 3% since listing

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Why this score? — see what drove the B 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks

New construction duplex featuring two spacious 3-bedroom, 2.5-bath, two-story units with modern finishes, open-concept floor plans, and LVP flooring throughout. The kitchens feature quartz countertops and stainless steel appliances, seamlessly connecting to the main living areas for easy everyday living and entertaining. Each unit includes a private yard, plus an upstairs primary suite with an en-suite bath and a large closet. An excellent opportunity for investors seeking strong rental potential or owner-occupants looking to house hack by living in one unit and renting the other. Conveniently located in an up-and-coming area near Oak Forest and The Heights, with easy access to major highwa

Key facts

• Large closet
• Private yard
• En-suite bath

Tags

• NEW CONSTRUCTION DUPLEX
• PRIVATE YARD
• UPSTAIRS PRIMARY SUITE
• EN-SUITE BATH
• LARGE CLOSET
• EASY ACCESS TO MAJOR HIGHWAYS

Property features AI

Exterior

• Security: Fire alarm
• Home design: Residential income property; New construction (2026); Faces east
• Construction: Built in 2026; Cement siding; Wood siding; Composition roof; New construction by Mazan Real Estate Group
• Exterior features: Fire alarm

Interior

• Kitchen: Dishwasher; Disposal; Microwave
• Bedrooms: Property contains 2 total units
• Flooring: Plank flooring; Tile flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Quartz countertops; Low emissivity windows

🏗️ New construction. The $419,750 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $222,291.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/3.0-bath units multifamily listed at $420k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive. Per door: $761/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 $387k (7.8% below list).
• Recommended offer: $387k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 14.5% 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: Osborne El (math 12% / reading 12%, grade F, #4,207 of 4,322 statewide, top 98%, 315 students, 99% FRL); Williams Middle (math 9% / reading 15%, grade F, #1,623 of 1,662 statewide, top 98%, 411 students, 98% FRL); Washington B T H S (math 27% / reading 25%, grade F, #1,234 of 1,632 statewide, top 76%, 878 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 31% district-wide (-14 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 soft (-1.0%/yr); 471 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,871/mo this rent would consume 85% of the median local household income ($54k/yr) (locally 2294% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $62k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk; 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 $387,100 (7.8% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.74% ✓
• Cap rate: 14.51%
• Cash-on-cash: 29.34%
• DSCR: 2.31
• GRM: 4.8

CMA / ARV

• ARV (median comp): $222,291
• List price: $419,750
• Delta: 95.42%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
918 Saint Clair St	0.31mi	6/3.0	2,798 (+5%)	16mo	$515,000	$184	51
805 Granville Dr	0.72mi	6/3.0	2,798 (+5%)	13mo	$525,000	$188	35
1086 Marjorie St Unit A/B	0.74mi	6/2.0	2,380 (-10%)	18mo	$415,000	$174	17

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 20.3%
• Equity multiple: 1.80×
• Total profit: $49,623
• Equity at exit: $33,144

10-year hold

• IRR: 26.5%
• Equity multiple: 3.00×
• Total profit: $124,419
• Equity at exit: $19,220

Cash invested: $62,242 (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 77088

• Home prices YoY: -23.2%
• Rents YoY: -1.0%
• Active inventory: 471
• Price-to-rent: 18.1×

Monthly cashflow live

• Estimated rent: $3,871 high
• Mortgage (P&I): −$1,166
• Tax est. 1.5%: −$278 /mo · $3,334/yr
• Insurance: −$93
• HOA: −$0
• Vacancy / Maint / Mgmt: −$813
• Net cashflow: $1,522

Break-even live

Break-even rent $1,945

Max offer price $222,291

Occupancy floor 56%

Sensitivity live

Price	-10% $1,676	-5% $1,599	+0% $1,522	+5% $1,445	+10% $1,368
Rent	-10% $1,216	-5% $1,369	+0% $1,522	+5% $1,675	+10% $1,828
Rate	-1.0pp $1,634	-0.5pp $1,578	base $1,522	+0.5pp $1,464	+1.0pp $1,406

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	3	$3,872
Total (2 units)			$3,871

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: $55,573
• Closing costs: $6,669
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7314 Werner St Houston, TX	5.0	3.0	2000	$1,950	$0.97	45d	1	1.41mi

Listing history 13 events

1. 2026-06-21
   days on market $419,750 Active 6 DOM
2. 2026-06-18
   days on market $419,750 Active 3 DOM
3. 2026-06-17
   days on market $419,750 Active 2 DOM
4. 2026-06-16
   pricedays on marketlisting id $419,750 Active 1 DOM
5. 2026-06-15
   days on market $434,400 Active 49 DOM
6. 2026-06-13
   days on market $434,400 Active 47 DOM
7. 2026-06-10
   days on market $434,400 Active 43 DOM
8. 2026-06-08
   days on market $434,400 Active 42 DOM
9. 2026-06-07
   days on market $434,400 Active 41 DOM
10. 2026-06-04
    days on market $434,400 Active 38 DOM
11. 2026-06-01
    days on market $434,400 Active 35 DOM
12. 2026-05-31
    days on market $434,400 Active 34 DOM
13. 2026-04-27
    listed $434,400 Active 813-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,452
• − Mortgage interest: −$12,452
• − Property taxes: −$3,334
• − Insurance: −$1,111
• − Repairs & maintenance: −$3,716
• − Management: −$3,716
• − Depreciation: −$6,467
• Taxable income: $15,655
• Est. tax owed @ 24.0%: −$3,757
• After-tax cash flow: $14,505/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.

Condition & rehab AI · 6 photos

Good 80/100 None rehab

This newly constructed duplex is in excellent condition with modern finishes and ample space. It offers a great opportunity for investors or owner-occupants looking to house hack.

Value-add opportunities

• Both Landscaping and curb appeal — Enhances curb appeal and could attract more renters
• Both Add smart home features — Improves convenience and could increase rental rates

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and curb appeal — Enhances curb appeal and could attract more renters ↑
• Both Add smart home features — Improves convenience and could increase rental rates ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 57,047
• Household income: $54,411
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 2294.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 52% Black 37% Two or more races 18% White 6% Asian 4%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Lithuanian 1%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 49% English-only · Spanish 47% Vietnamese 3%

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: ▼ -98.37%
• Current HPI: 325.0499
• Rent YoY: ▼ -1.01%
• 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

-3.4% since first listed

3 events — show timeline

• 2026-06-15 Listed $419,750 HARMLS
• 2026-06-15 Listing Removed — HARMLS
• 2026-04-27 Listed $434,400 HARMLS