6617 Bacher St · Houston, TX 77028

$365,000

6 bd · 4.0 ba · 2,300 sqft · MultiFamily · 49 Days on market

Built 2023 Good condition $159/sqft · 7% below area Est $393k · 7% under ↓ 6% since listing

---

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 +15.9/30.0
• ARV discount +10.7/15.0
• Appreciation +7.6/10.0
• DSCR +4.9/10.0
• 1% rule +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.1/5.0

Multi-family units

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

Listing remarks MLS

Excellent investment opportunity featuring a well-maintained duplex, each unit offering 3 bedrooms, 2 bathrooms, and approximately 1,150 square feet of living space. Both units showcase laminate flooring throughout, a well-appointed kitchen with granite countertops, and ample cabinetry for storage. The bedrooms are generously sized, with the primary suite including a large walk-in closet. Each unit also includes electric washer and dryer connections, with appliances available upon request. Unit A is currently occupied by a tenant at $1,700 per month, providing immediate rental income. Unit B is vacant and has a rental potential of $1,800 per month. This property offers strong cash flow potential in a desirable rental market, making it ideal for investors seeking a turnkey opportunity.

Key facts

• Built 2023
• Listed 48 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $365k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $171 ($2k/yr) — positive. Per door: $86/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 $341k (6.6% below list).
• Recommended offer: $341k (6.6% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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 soft (-1.6%/yr); 354 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,410/mo this rent would consume 107% of the median local household income ($38k/yr) (locally 1177% 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 $22k of equity ($3k loan paydown + $19k appreciation (5.2% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.2% appreciation + 0.0% rent growth), your $102k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $341,000 (6.6% below list)

Questions for the listing agent

1. It's been on market 49 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. 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 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: 6.86%
• Cash-on-cash: 2.01%
• DSCR: 1.09
• GRM: 8.9

CMA / ARV

• ARV (median comp): $392,777
• List price: $365,000
• Delta: -7.07%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8049 Ritz St Unit A	0.27mi	6/2.0	2,212 (-4%)	19mo	$375,000	$170	57
8202 Furray Rd	0.46mi	6/—	2,436 (+6%)	20mo	$374,900	$154	52
6112 Fairchild St	0.59mi	6/2.0	2,452 (+7%)	14mo	$412,000	$168	42
6916 Tommye St Unit A-B	0.24mi	6/2.0	2,628 (+14%)	20mo	$430,000	$164	40
7815 Joy St	0.59mi	6/2.0	2,577 (+12%)	12mo	$399,900	$155	34
7709 St Louis St	0.61mi	6/2.0	2,545 (+11%)	18mo	$405,500	$159	31

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

Projected returns pro-forma

5.25% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 13.8%
• Equity multiple: 1.88×
• Total profit: $90,233
• Equity at exit: $212,295

10-year hold

• IRR: 13.4%
• Equity multiple: 3.39×
• Total profit: $244,058
• Equity at exit: $370,982

Cash invested: $102,200 (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 77028

• Home prices YoY: 2.0%
• Rents YoY: -1.6%
• Active inventory: 354
• Price-to-rent: 17.8×

Monthly cashflow live

• Estimated rent: $3,410 high
• Mortgage (P&I): −$1,914
• Tax est. 1.5%: −$456 /mo · $5,475/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$716
• Net cashflow: $171

Break-even live

Break-even rent $3,193

Max offer price $365,000

Occupancy floor 90%

Sensitivity live

Price	-10% $424	-5% $298	+0% $171	+5% $45	+10% $-81
Rent	-10% $-98	-5% $37	+0% $171	+5% $306	+10% $441
Rate	-1.0pp $355	-0.5pp $264	base $171	+0.5pp $77	+1.0pp $-19

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,410
Total (2 units)			$3,410

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8117 Richland Dr Houston, TX	5.0	2.0	1671	$1,983	$1.19	3d	1	1.06mi

Listing history 10 events

1. 2026-05-01
   price $365,000 795-char remark

   Show marketing remark (795 chars)

   Excellent investment opportunity featuring a well-maintained duplex, each unit offering 3 bedrooms, 2 bathrooms, and approximately 1,150 square feet of living space. Both units showcase laminate flooring throughout, a well-appointed kitchen with granite countertops, and ample cabinetry for storage. The bedrooms are generously sized, with the primary suite including a large walk-in closet. Each unit also includes electric washer and dryer connections, with appliances available upon request. Unit A is currently occupied by a tenant at $1,700 per month, providing immediate rental income. Unit B is vacant and has a rental potential of $1,800 per month. This property offers strong cash flow potential in a desirable rental market, making it ideal for investors seeking a turnkey opportunity.

2. 2026-04-07
   listed $385,000 Active 795-char remark

   Show marketing remark (795 chars)

   Excellent investment opportunity featuring a well-maintained duplex, each unit offering 3 bedrooms, 2 bathrooms, and approximately 1,150 square feet of living space. Both units showcase laminate flooring throughout, a well-appointed kitchen with granite countertops, and ample cabinetry for storage. The bedrooms are generously sized, with the primary suite including a large walk-in closet. Each unit also includes electric washer and dryer connections, with appliances available upon request. Unit A is currently occupied by a tenant at $1,700 per month, providing immediate rental income. Unit B is vacant and has a rental potential of $1,800 per month. This property offers strong cash flow potential in a desirable rental market, making it ideal for investors seeking a turnkey opportunity.

3. 2026-03-14
   listed
4. 2026-02-02
   historical
5. 2025-11-19
   historical
6. 2025-08-06
   listed $435,000 Active
7. 2025-07-08
   listed
8. 2023-08-03
   soldstatus Sold
9. 2023-07-17
   status Pending, Continue to Show
10. 2023-07-06
    listed $389,000 Active

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

Taxation est. · year 1

• Rental income: $40,920
• − Mortgage interest: −$20,446
• − Property taxes: −$5,475
• − Insurance: −$1,825
• − Repairs & maintenance: −$3,274
• − Management: −$3,274
• − Depreciation: −$10,618
• Taxable loss: −$3,991
• Est. tax savings @ 24.0%: +$958
• After-tax cash flow: $3,015/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 · 3 photos

Good 80/100 Cosmetic rehab

This well-maintained, move-in-ready duplex offers a good investment opportunity with immediate rental income and strong cash flow potential.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace ceiling fan with energy-efficient model — Modern fan improves air circulation and reduces energy consumption
• Both Install smart thermostat — Saves energy and provides comfort control

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace ceiling fan with energy-efficient model — Modern fan improves air circulation and reduces energy consumption ↑
• Both Install smart thermostat — Saves energy and provides comfort control ↑

ⓘ 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): 19,109
• Household income: $38,357
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1177.0

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: Majority Black (57%)
• Race & ethnicity: Black 57% Hispanic / Latino 41% Two or more races 15% White 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 13% · Canada
• Languages at home: 61% English-only · Spanish 38%

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: ▲ 5.25%
• Current HPI: 267.7798
• Rent YoY: ▼ -1.55%
• 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

-6.2% since first listed

10 events — show timeline

• 2026-05-01 Price Changed $365,000 HARMLS
• 2026-04-07 Listed $385,000 HARMLS
• 2026-03-14 Listed for Rent — HARMLS
• 2026-02-02 Rental Removed — HARMLS
• 2025-11-19 Listing Removed — HARMLS
• 2025-08-06 Listed $435,000 HARMLS
• 2025-07-08 Listed for Rent — HARMLS
• 2023-08-03 Sold (MLS) — HARMLS
• 2023-07-17 Pending — HARMLS
• 2023-07-06 Listed $389,000 HARMLS