615 Mcintosh St · Houston, TX 77009

$280,000

3 bd · 1.0 ba · 2,166 sqft · SingleFamily public records · 332 Days on market

Built 1929 4,848 sqft lot $129/sqft · 44% below area ↓ 46% since listing

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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 +20.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +6.4/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor's dream! Main house plus a 2-bedroom apartment in back. No HOA! This 1929 property in revitalizing Northside Village (2166 sq ft main house) offers immense potential. Renovate & rent, flip, or hold. Prime location near downtown. Don't miss this opportunity! Selling as-is. Hablamos Espanol.

Key facts

• 2-bedroom apartment
• 4,848 sq ft lot
• Built 1929

Tags

• 2-BEDROOM APARTMENT
• PRIME LOCATION NEAR DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $280k).
• Recommended offer: $246k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 flat; 595 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 59% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,196/mo this rent would consume 46% of the median local household income ($83k/yr) (locally 994% 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 $8k 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 332 days — a 12% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 332 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.14% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.66%
• DSCR: 1.25
• GRM: 7.3

CMA / ARV

• ARV (median comp): $860,544
• List price: $280,000
• Delta: -67.46%
• 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
2405 Freeman St	0.20mi	3/2.5	2,336 (+8%)	2mo	$425,000	$182	70
717 Morris St	0.21mi	3/3.5	2,091 (-4%)	6mo	$439,900	$210	69
711 Boundary St	0.10mi	3/3.5	2,447 (+13%)	1mo	$439,000	$179	63
824 Morris St	0.26mi	3/3.5	1,975 (-9%)	2mo	$438,000	$222	62
3006 Houston Ave	0.42mi	3/2.5	1,994 (-8%)	2mo	$995,000	$499	59
3820 Weems St Unit B	0.64mi	3/2.5	2,189 (+1%)	7mo	$425,000	$194	57
713 James St	0.56mi	3/2.5	2,087 (-4%)	7mo	$399,900	$192	56
3622 Moore St	0.68mi	3/1.5	1,977 (-9%)	3mo	$335,000	$169	49
414 Woodland St	0.65mi	3/2.0	2,365 (+9%)	3mo	$1,100,000	$465	48
1920 Fulton St	0.62mi	4/2.0 (+1)	1,915 (-12%)	2mo	$399,000	$208	41
518 Byrne St	0.74mi	4/2.5 (+1)	2,344 (+8%)	2mo	$1,220,000	$520	39
1110 Hogan St	0.70mi	3/3.5	2,005 (-7%)	10mo	$425,000	$212	36

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 · 0.84% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.64×
• Total profit: $-28,440
• Equity at exit: $41,749

10-year hold

• IRR: -4.4%
• Equity multiple: 0.74×
• Total profit: $-20,417
• Equity at exit: $24,209

Cash invested: $78,400 (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 77009

• Rents YoY: 0.8%
• Active inventory: 595
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $3,196 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$570 /mo · $6,843/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$671
• Net cashflow: $370

Break-even live

Break-even rent $2,728

Max offer price $280,000

Occupancy floor 83%

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2403 Everett St Unit A Houston, TX	3.0	3.5	2093	$2,800	$1.34	43d	1	0.19mi
2706 Cochran St Houston, TX	3.0	3.5	1791	$2,700	$1.51	19d	1	0.55mi
410 James St Houston, TX	3.0	2.0	1602	$6,750	$4.21	43d	1	0.58mi
410 James St Unit 1031793P Houston, TX	3.0	2.0	1593	$7,554	$4.74	16d	1	0.58mi
1625 N Main St Houston, TX	3.0	1.0–3.0	994	$2,354	$2.37	3d	42	0.79mi
2114 Sabine St Unit 1257735P Houston, TX	3.0	3.5	2594	$6,588	$2.54	43d	1	0.89mi
2114 Sabine St Houston, TX	3.0	4.0	2020	$3,200	$1.58	43d	1	0.89mi
1510 Crockett St Houston, TX	2.0	3.0	1912	$2,800	$1.46	43d	1	0.89mi
1512 Crockett St Unit A Houston, TX	2.0	2.5	1808	$2,800	$1.55	43d	1	0.89mi
401 Walton St Houston, TX	3.0	2.0	2112	$2,500	$1.18	15d	1	0.94mi
825 Usener St Houston, TX	2.0	1.0–2.0	1050	$2,925	$2.79	1d	27	1.04mi
1039 Hillstar St Houston, TX	3.0	2.5	1780	$2,750	$1.54	12d	1	1.07mi
2018 Crockett St Unit 1029793P Houston, TX	3.0	3.5	2507	$6,482	$2.59	5d	1	1.13mi
2018 Crockett St Unit 2018 Houston, TX	3.0	3.5	2514	$8,000	$3.18	43d	1	1.13mi
4605 Fisk St Houston, TX	3.0	2.0	1628	$3,000	$1.84	43d	1	1.21mi
1116 Woodland St Houston, TX	3.0	2.0	2400	$4,000	$1.67	43d	1	1.31mi
1524 Evelyn St Houston, TX	3.0	2.5	1804	$2,800	$1.55	43d	1	1.41mi

Listing history 26 events

1. 2026-06-18
   days on market $280,000 Active 332 DOM
2. 2026-06-17
   days on market $280,000 Active 331 DOM
3. 2026-06-16
   days on market $280,000 Active 330 DOM
4. 2026-06-15
   days on market $280,000 Active 329 DOM
5. 2026-06-13
   days on market $280,000 Active 327 DOM
6. 2026-06-10
   days on market $280,000 Active 323 DOM
7. 2026-06-08
   days on market $280,000 Active 322 DOM
8. 2026-06-07
   days on market $280,000 Active 321 DOM
9. 2026-06-04
   days on market $280,000 Active 318 DOM
10. 2026-06-01
    days on market $280,000 Active 315 DOM
11. 2026-05-31
    days on market $280,000 Active 314 DOM
12. 2025-09-16
    price $280,000 303-char remark

    Show marketing remark (303 chars)

    Investor's dream! Main house plus a 2-bedroom apartment in back. No HOA! This 1929 property in revitalizing Northside Village (2166 sq ft main house) offers immense potential. Renovate & rent, flip, or hold. Prime location near downtown. Don't miss this opportunity! Selling as-is. Hablamos Espanol.

13. 2025-07-21
    listed $300,000 Active 303-char remark

    Show marketing remark (303 chars)

    Investor's dream! Main house plus a 2-bedroom apartment in back. No HOA! This 1929 property in revitalizing Northside Village (2166 sq ft main house) offers immense potential. Renovate & rent, flip, or hold. Prime location near downtown. Don't miss this opportunity! Selling as-is. Hablamos Espanol.

14. 2025-02-06
    historical
15. 2024-09-20
    price $310,000
16. 2024-07-23
    listed $365,000 Active
17. 2024-03-26
    historical
18. 2024-03-23
    status Active
19. 2024-03-20
    status Option Pending
20. 2023-11-01
    price $420,000
21. 2023-10-14
    listed $485,000 Active
22. 2023-08-01
    historical
23. 2023-06-23
    price $485,000
24. 2023-05-05
    price $495,000
25. 2023-03-10
    listed $515,000 Active
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: $6,843 · $570/mo
• Projected year-2 tax: $6,843 · $570/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 5/10 Major FEMA zone X (shaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 21 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: $38,354
• − Mortgage interest: −$15,684
• − Property taxes: −$6,843
• − Insurance: −$1,400
• − Repairs & maintenance: −$3,068
• − Management: −$3,068
• − Depreciation: −$8,145
• Taxable income: $145
• Est. tax owed @ 24.0%: −$35
• After-tax cash flow: $4,402/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): 35,769
• Household income: $83,148
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 994.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 53% White 33% Two or more races 22% Black 8% Asian 3%
• Hispanic origin (detail): Mexican 46%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 20% · Canada
• Languages at home: 55% English-only · Spanish 40% Other Indo-European 2% Other Asian/Pacific 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: ▼ -533.57%
• Current HPI: 219.5037
• Rent YoY: ▲ 0.84%
• 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

-45.6% since first listed

15 events — show timeline

• 2025-09-16 Price Changed $280,000 HARMLS
• 2025-07-21 Listed $300,000 HARMLS
• 2025-02-06 Listing Removed — HARMLS
• 2024-09-20 Price Changed $310,000 HARMLS
• 2024-07-23 Listed $365,000 HARMLS
• 2024-03-26 Listing Removed — HARMLS
• 2024-03-23 Relisted — HARMLS
• 2024-03-20 Pending — HARMLS
• 2023-11-01 Price Changed $420,000 HARMLS
• 2023-10-14 Listed $485,000 HARMLS
• 2023-08-01 Listing Removed — HARMLS
• 2023-06-23 Price Changed $485,000 HARMLS
• 2023-05-05 Price Changed $495,000 HARMLS
• 2023-03-10 Listed $515,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+6.3%/yr

Latest (2025): $6,843 · +11.7% YoY. Source: county tax records.