7410 Lindencrest St · Houston, TX 77061

$1,900,000

None bd · None ba · 13,000 sqft · MultiFamily · 1 Days on market

Built 1956 Poor condition 0.52 ac lot

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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 +20.4/30.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.4/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.4/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 20 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Exceptional investment opportunity in a prime Houston location featuring a well-maintained 20-unit multi-family apartment complex. Composed of multiple solid brick structures, this property offers a fantastic unit mix designed to maximize rental income and maintain high occupancy. The spacious interior layouts offer an efficient flow, bright living areas, comfortable bedrooms with ample closet space, and clean, practical finishes. Situated on an expansive 22,500 square foot lot, the exterior features manicured lawn space, clean concrete walkways, a tidy perimeter fence, and dedicated parking spaces for tenants. Strategically positioned with convenient, quick access to major Houston thorough

Key facts

• Ample closet space
• Bright living areas
• Manicured lawn space

Tags

• SOLID BRICK STRUCTURES
• EFFICIENT FLOW
• BRIGHT LIVING AREAS
• AMPLE CLOSET SPACE
• MANICURED LAWN SPACE
• CLEAN CONCRETE WALKWAYS

Property features AI

Finance

• Other: Seller disclosure available
• Financial info: Annual tax amount reported

Exterior

• Home design: Residential Income property; Originally built in 1956
• Construction: Built in 1956; Composition roof
• Exterior features: Composition roof; Lot about 22,500 square feet

Interior

• Heating & cooling: Central heating; Electric heating; Gas heating; Central air conditioning; Electric cooling; Window units
• Interior features: Residential income property with 20 total units; Building area approximately 13,000

What this means for you Summary

Snapshot

• This is a 20 × 2-bed/?-bath units multifamily listed at $1.90M. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $123/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $1.90M).
• Cap rate 7.8% 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: Garden Villas El (math 22% / reading 27%, grade F, #3,052 of 4,322 statewide, top 74%, 370 students, 91% FRL); Hartman Middle (math 15% / reading 23%, grade F, #1,466 of 1,662 statewide, top 89%, 904 students, 96% FRL); Sterling H S (math 16% / reading 27%, grade F, #1,377 of 1,632 statewide, top 85%, 1,421 students, 92% FRL) — zoned schools average 93% FRL vs 71% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.3%/yr); 48 active listings in the ZIP; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $19,734/mo this rent would consume 525% of the median local household income ($45k/yr) (locally 1546% 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 $13k of loan paydown is wiped out by about $57k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $1,900,000

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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.04% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.55%
• DSCR: 1.25
• GRM: 8.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.1%
• Equity multiple: 0.61×
• Total profit: $-208,777
• Equity at exit: $283,296

10-year hold

• IRR: -6.9%
• Equity multiple: 0.62×
• Total profit: $-202,391
• Equity at exit: $164,277

Cash invested: $532,000 (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 77061

• Home prices YoY: -19.7%
• Rents YoY: -0.3%
• Active inventory: 48
• Price-to-rent: 160.5×

Monthly cashflow live

• Estimated rent: $19,734 high
• Mortgage (P&I): −$9,964
• Tax est. 1.5%: −$2,375 /mo · $28,500/yr
• Insurance: −$792
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,144
• Net cashflow: $2,459

Break-even live

Break-even rent $16,621

Max offer price $1,900,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 20× units	2	—	$19,740
Total (20 units)			$19,734

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: $475,000
• Closing costs: $57,000
• Reserves months: —
• Total cash needed: —

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $1,900,000 Active 1 DOM

ⓘ 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 · 24 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: $236,808
• − Mortgage interest: −$106,430
• − Property taxes: −$28,500
• − Insurance: −$9,500
• − Repairs & maintenance: −$18,945
• − Management: −$18,945
• − Depreciation: −$55,273
• Taxable loss: −$784
• Est. tax savings @ 24.0%: +$188
• After-tax cash flow: $29,701/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 · 12 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates to bring it up to modern standards, significantly impacting its resale and rental value.

Repairs flagged

• Major roof — Significant damage and missing shingles
• Major exterior — Exposed brick, peeling paint
• Major flooring — Worn-out carpet
• Major interior walls — Painted walls with visible wear
• Major bathrooms — Basic fixtures, no updates
• Major systems — No visible HVAC or mechanical systems

Value-add opportunities

• Both roof replacement — Critical safety and aesthetic issue
• Both exterior renovation — Improves curb appeal and value
• Both flooring replacement — Enhances living experience and value
• Both interior wall paint — Freshens up the space and adds value
• Both bathroom updates — Modernizes the space and adds value
• Both HVAC installation — Improves comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage and missing shingles	Major	$15,000–50,000
exterior · Exposed brick, peeling paint	Major	$15,000–50,000
flooring · Worn-out carpet	Major	$15,000–50,000
interior walls · Painted walls with visible wear	Major	$15,000–50,000
bathrooms · Basic fixtures, no updates	Major	$15,000–50,000
systems · No visible HVAC or mechanical systems	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both roof replacement — Critical safety and aesthetic issue ↑
• Both exterior renovation — Improves curb appeal and value ↑
• Both flooring replacement — Enhances living experience and value ↑
• Both interior wall paint — Freshens up the space and adds value ↑
• Both bathroom updates — Modernizes the space and adds value ↑
• Both HVAC installation — Improves comfort and energy efficiency ↑

ⓘ 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): 24,004
• Household income: $45,115
• Rent vs Own: 62.1% rent · 37.9% own
• Severe rent burden: 1546.0

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 Hispanic (64%)
• Race & ethnicity: Hispanic / Latino 64% Black 21% Two or more races 20% White 7% Asian 6% Native American 3%
• Hispanic origin (detail): Mexican 42% Puerto Rican 2% Cuban 2%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 37% · Canada, Vietnam
• Languages at home: 35% English-only · Spanish 58% Vietnamese 6% French/Haitian/Cajun 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: ▼ -74.75%
• Current HPI: 303.8705
• Rent YoY: ▼ -0.30%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-18 Listed $1,900,000 HARMLS
• 2026-06-18 Coming Soon $1,900,000 HARMLS