6930 A/B & 6934 A/B Paris St · Houston, TX 77021

$800,000

12 bd · 7.5 ba · 5,980 sqft · MultiFamily · 299 Days on market

Built 2006 Fair condition 10,000 sqft lot $134/sqft · at area comps Est $830k · at est.

---

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).

• Cash flow +13.5/30.0
• ARV discount +9.1/15.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Schools +2.7/10.0
• Condition / age +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: 3 units. confirmed

Listing remarks MLS

Opportunity to owe 2 consecutive duplexes total of 4 units. Owners retired n will move out of state 4 bedrooms/2 and half baths each unit. 6930 unit A 1500 per months, long term 10 years tenants. Unit B 1500 new lease 3/2026 6934 unit A 1500 new contract 3/2026, Unit B 1500 new lease 3/2026. No hoa, no maintenance, tenants pay electric n water , no gas. Properties taxes are 6500 each building per year. Insurance fire hurricane 2000 per year each with Sagesure. Showing once contract approved. Pls do not disturb tenants. Thx. New roofs in 2020.. all new AC systems each unit upgraded to 4 tons year by year 1 vacant unit to show, all units r identical.

Key facts

• 0.23 acre lot
• Built 2006
• Listed 298 days

What this means for you Summary

Snapshot

• This is a 3 × 4-bed/?-bath units multifamily listed at $800k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $29 ($348/yr) — positive. Per door: $10/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 $704k (12.1% below list).
• Recommended offer: $704k (12.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: Hartsfield El (math 27% / reading 22%, grade F, #3,052 of 4,322 statewide, top 74%, 303 students, 98% FRL); Cullen Middle (math 6% / reading 14%, grade F, #1,641 of 1,662 statewide, top 99%, 324 students, 100% FRL); Yates H S (math 12% / reading 23%, grade F, #1,451 of 1,632 statewide, top 89%, 851 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 rising (+2.2%/yr); 472 active listings in the ZIP; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $7,035/mo this rent would consume 185% of the median local household income ($46k/yr) (locally 2532% 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 $6k of loan paydown is wiped out by about $24k 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.

Negotiation context

• It's been on market 299 days — a 12% lower offer ($704k) is reasonable based on typical stale-listing flexibility.
• 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: 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 $703,500 (12.1% below list)

Questions for the listing agent

1. It's been on market 299 days. Have you received any prior offers? Is the seller open to a 12% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.88% ✗
• Cap rate: 6.34%
• Cash-on-cash: 0.16%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (median comp): $829,717
• List price: $800,000
• Delta: -3.58%
• Verdict: FAIR
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6532 & 6528 Weston St	0.49mi	12/3.0	5,364 (-10%)	15mo	$1,050,000	$196	30

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 · 2.17% rent growth · sell at horizon

5-year hold

• IRR: -17.0%
• Equity multiple: 0.40×
• Total profit: $-133,507
• Equity at exit: $119,283

10-year hold

• IRR: -10.4%
• Equity multiple: 0.39×
• Total profit: $-136,958
• Equity at exit: $69,169

Cash invested: $224,000 (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 77021

• Home prices YoY: -23.6%
• Rents YoY: 2.2%
• Active inventory: 472
• Price-to-rent: 28.4×

Monthly cashflow live

• Estimated rent: $7,035 high
• Mortgage (P&I): −$4,195
• Tax est. 1.5%: −$1,000 /mo · $12,000/yr
• Insurance: −$333
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,477
• Net cashflow: $29

Break-even live

Break-even rent $6,998

Max offer price $800,000

Occupancy floor 95%

Sensitivity live

Price	-10% $582	-5% $305	+0% $29	+5% $-247	+10% $-524
Rent	-10% $-527	-5% $-249	+0% $29	+5% $307	+10% $585
Rate	-1.0pp $432	-0.5pp $233	base $29	+0.5pp $-178	+1.0pp $-389

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

Units	Beds	Baths	Est. rent
▸ 3× units	4	—	$7,035
Total (3 units)			$7,035

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: $200,000
• Closing costs: $24,000
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-04
   days on market $800,000 Active 299 DOM
2. 2026-06-01
   days on market $800,000 Active 296 DOM
3. 2026-05-31
   days on market $800,000 Active 295 DOM
4. 2025-09-05
   status Active 669-char remark

   Show marketing remark (669 chars)

   Opportunity to owe 2 consecutive duplexes total of 4 units. Owners retired n will move out of state 4 bedrooms/2 and half baths each unit. 6930 unit A 1500 per months, long term 10 years tenants. Unit B 1500 new lease 3/2026 6934 unit A 1500 new contract 3/2026, Unit B 1500 new lease 3/2026. No hoa, no maintenance, tenants pay electric n water , no gas. Properties taxes are 6500 each building per year. Insurance fire hurricane 2000 per year each with Sagesure. Showing once contract approved. Pls do not disturb tenants. Thx. New roofs in 2020.. all new AC systems each unit upgraded to 4 tons year by year 1 vacant unit to show, all units r identical.

5. 2025-03-03
   historical 669-char remark

   Show marketing remark (669 chars)

   Opportunity to owe 2 consecutive duplexes total of 4 units. Owners retired n will move out of state 4 bedrooms/2 and half baths each unit. 6930 unit A 1500 per months, long term 10 years tenants. Unit B 1500 new lease 3/2026 6934 unit A 1500 new contract 3/2026, Unit B 1500 new lease 3/2026. No hoa, no maintenance, tenants pay electric n water , no gas. Properties taxes are 6500 each building per year. Insurance fire hurricane 2000 per year each with Sagesure. Showing once contract approved. Pls do not disturb tenants. Thx. New roofs in 2020.. all new AC systems each unit upgraded to 4 tons year by year 1 vacant unit to show, all units r identical.

6. 2025-02-04
   listed $800,000 Active 669-char remark

   Show marketing remark (669 chars)

   Opportunity to owe 2 consecutive duplexes total of 4 units. Owners retired n will move out of state 4 bedrooms/2 and half baths each unit. 6930 unit A 1500 per months, long term 10 years tenants. Unit B 1500 new lease 3/2026 6934 unit A 1500 new contract 3/2026, Unit B 1500 new lease 3/2026. No hoa, no maintenance, tenants pay electric n water , no gas. Properties taxes are 6500 each building per year. Insurance fire hurricane 2000 per year each with Sagesure. Showing once contract approved. Pls do not disturb tenants. Thx. New roofs in 2020.. all new AC systems each unit upgraded to 4 tons year by year 1 vacant unit to show, all units r identical.

7. 2023-07-14
   historical

ⓘ 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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $84,420
• − Mortgage interest: −$44,812
• − Property taxes: −$12,000
• − Insurance: −$4,000
• − Repairs & maintenance: −$6,754
• − Management: −$6,754
• − Depreciation: −$23,273
• Taxable loss: −$13,172
• Est. tax savings @ 24.0%: +$3,161
• After-tax cash flow: $3,510/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 · 13 photos

Fair 45/100 Moderate rehab

The property is in fair condition with some minor repairs and maintenance needed. Painting and landscaping improvements can significantly increase its value.

Repairs flagged

• Minor Paint — Paint appears to be in good condition with no visible damage.
• Minor Landscaping — Basic landscaping with a wooden fence and some grass.

Value-add opportunities

• Both Painting the exterior and interior — Painting can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters.
• Both Landscaping improvements — Improving the landscaping can enhance the curb appeal and make the property more attractive to potential buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears to be in good condition with no visible damage.	Minor	$500–3,000
Landscaping · Basic landscaping with a wooden fence and some grass.	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting the exterior and interior — Painting can enhance the curb appeal and interior aesthetics, making the property more attractive to potential buyers and renters. ↑
• Both Landscaping improvements — Improving the landscaping can enhance the curb appeal and make the property more attractive to potential buyers and renters. ↑

ⓘ 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): 26,153
• Household income: $45,574
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 2532.0

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 0.55)
• Race & ethnicity: Black 62% Hispanic / Latino 22% Two or more races 12% White 10% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 77% English-only · Spanish 19% French/Haitian/Cajun 1% Other Indo-European 1%

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: ▼ -71.22%
• Current HPI: 230.2869
• Rent YoY: ▲ 2.17%
• 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

4 events — show timeline

• 2025-09-05 Relisted — HARMLS
• 2025-03-03 Listing Removed — HARMLS
• 2025-02-04 Listed $800,000 HARMLS
• 2023-07-14 Rental Removed — HARMLS