904 Beverly Ave Ave #6 · Pasadena, TX 77506

$490,000

12 bd · 6.0 ba · 1,840 sqft · MultiFamily public records · 91 Days on market

Built 1957 0.25 ac lot $266/sqft · 75% above area Est $559k · 12% under

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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 +24.6/30.0
• ARV discount +13.0/15.0
• DSCR +7.9/10.0
• 1% rule +6.8/10.0
• Livability +3.3/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 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 MLS

Major Price Improvement - 6-unit multi-family property in Pasadena- Now Priced to sell at $539,000.00 Reduced to attract serious investors.Excellent rental mix with 2buildings, @ Approx $89K per unit. Each two 1BD/1BA upstairs units and one 2BD/1BA downstairs (possibility to increase to 8 units) Extensive upgrades completed in 2024–2025 include new central A/C systems,roof, fencing,electrical panels and boxes,sewer meters, & much more, see upgrade list for details. A rear utility room with W/D hookups, large backyard for future expansion. Located near schools, shopping, major hwys, industrial job centers for strong rental demand. Sold AS-IS. Buyers to verify condition, zoning, rental potential, and development opportunities. (seller has done extensive upgrades)! Property is 904 Beverly Ave & 1009 Witter St.(3 units ea) . 904 Beverly (office) previously leased as a studio. Currently vacant - needs make ready for added income as your 7th unit !!

Key facts

• New fencing
• Two buildings
• New roof

Tags

• MULTI-FAMILY PROPERTY
• TWO BUILDINGS
• NEW CENTRAL A/C SYSTEMS
• NEW ROOF
• NEW FENCING
• NEW ELECTRICAL PANELS

What this means for you Summary

Snapshot

• This is a 6 × 2-bed/1.0-bath units multifamily listed at $490k.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive. Per door: $169/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $490k).
• Recommended offer: $446k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.5% in Pasadena — 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 66/100 on livability (#600 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, employment D+, crime F.
• Pasadena ISD (suburban): math 29% / reading 32% proficiency, ranked #612 of 826 in TX (top 74%) — 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: 104 active listings in the ZIP; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $15k 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 91 days — a 9% lower offer ($446k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $110k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — 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 $445,900 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 days. Have you received any prior offers? Is the seller open to a 9% 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. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.18% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.87%
• DSCR: 1.39
• GRM: 7.1

CMA / ARV

• ARV (median comp): $558,771
• List price: $490,000
• Delta: -12.31%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.8%
• Equity multiple: 0.89×
• Total profit: $-14,603
• Equity at exit: $73,061

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $71,235
• Equity at exit: $42,366

Cash invested: $137,200 (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 77506

• Home prices YoY: -15.5%
• Active inventory: 104
• Price-to-rent: 42.4×

Monthly cashflow live

• Estimated rent: $5,772 medium
• Mortgage (P&I): −$2,570
• Tax from tax record: −$772 /mo · $9,259/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,212
• Net cashflow: $1,014

Break-even live

Break-even rent $4,488

Max offer price $490,000

Occupancy floor 77%

Sensitivity live

Price	-10% $1,292	-5% $1,153	+0% $1,014	+5% $876	+10% $737
Rent	-10% $558	-5% $786	+0% $1,014	+5% $1,242	+10% $1,470
Rate	-1.0pp $1,261	-0.5pp $1,139	base $1,014	+0.5pp $888	+1.0pp $758

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$5,772
Total (6 units)			$5,772

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: $122,500
• Closing costs: $14,700
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-05-31
   days on market $490,000 Active 91 DOM
2. 2026-05-18
   price $490,000 978-char remark

   Show marketing remark (978 chars)

   Major Price Improvement - 6-unit multi-family property in Pasadena- Now Priced to sell at $539,000.00 Reduced to attract serious investors.Excellent rental mix with 2buildings, @ Approx $89K per unit. Each two 1BD/1BA upstairs units and one 2BD/1BA downstairs (possibility to increase to 8 units) Extensive upgrades completed in 2024–2025 include new central A/C systems,roof, fencing,electrical panels and boxes,sewer meters, & much more, see upgrade list for details. A rear utility room with W/D hookups, large backyard for future expansion. Located near schools, shopping, major hwys, industrial job centers for strong rental demand. Sold AS-IS. Buyers to verify condition, zoning, rental potential, and development opportunities. (seller has done extensive upgrades)! Property is 904 Beverly Ave & 1009 Witter St.(3 units ea) . 904 Beverly (office) previously leased as a studio. Currently vacant - needs make ready for added income as your 7th unit !!

3. 2026-03-16
   price $539,900 978-char remark

   Show marketing remark (978 chars)

   Major Price Improvement - 6-unit multi-family property in Pasadena- Now Priced to sell at $539,000.00 Reduced to attract serious investors.Excellent rental mix with 2buildings, @ Approx $89K per unit. Each two 1BD/1BA upstairs units and one 2BD/1BA downstairs (possibility to increase to 8 units) Extensive upgrades completed in 2024–2025 include new central A/C systems,roof, fencing,electrical panels and boxes,sewer meters, & much more, see upgrade list for details. A rear utility room with W/D hookups, large backyard for future expansion. Located near schools, shopping, major hwys, industrial job centers for strong rental demand. Sold AS-IS. Buyers to verify condition, zoning, rental potential, and development opportunities. (seller has done extensive upgrades)! Property is 904 Beverly Ave & 1009 Witter St.(3 units ea) . 904 Beverly (office) previously leased as a studio. Currently vacant - needs make ready for added income as your 7th unit !!

4. 2026-03-01
   listed $600,000 Active 978-char remark

   Show marketing remark (978 chars)

   Major Price Improvement - 6-unit multi-family property in Pasadena- Now Priced to sell at $539,000.00 Reduced to attract serious investors.Excellent rental mix with 2buildings, @ Approx $89K per unit. Each two 1BD/1BA upstairs units and one 2BD/1BA downstairs (possibility to increase to 8 units) Extensive upgrades completed in 2024–2025 include new central A/C systems,roof, fencing,electrical panels and boxes,sewer meters, & much more, see upgrade list for details. A rear utility room with W/D hookups, large backyard for future expansion. Located near schools, shopping, major hwys, industrial job centers for strong rental demand. Sold AS-IS. Buyers to verify condition, zoning, rental potential, and development opportunities. (seller has done extensive upgrades)! Property is 904 Beverly Ave & 1009 Witter St.(3 units ea) . 904 Beverly (office) previously leased as a studio. Currently vacant - needs make ready for added income as your 7th unit !!

5. 2022-09-06
   soldstatus Sold 536-char remark

   Show marketing remark (536 chars)

   6 units with the potential to make this into 8 units by converting the two existing storage units into additional units. Currently configured as 2 buildings, each with 3 units (plus 1 storage/garage sized unit) on an 11,040 sq. ft. lot. Owner is going to finish repainting the outside of the buildings prior to closing. Other than that, property is being sold completely as-is. All units are currently tenant occupied. Rent Roll & survey are attached in the listing. *Additional 6 units for sale down the road at 1012 Ann St.

6. 2022-09-06
   soldstatus

   Show marketing remark (536 chars)

   6 units with the potential to make this into 8 units by converting the two existing storage units into additional units. Currently configured as 2 buildings, each with 3 units (plus 1 storage/garage sized unit) on an 11,040 sq. ft. lot. Owner is going to finish repainting the outside of the buildings prior to closing. Other than that, property is being sold completely as-is. All units are currently tenant occupied. Rent Roll & survey are attached in the listing. *Additional 6 units for sale down the road at 1012 Ann St.

7. 2022-07-29
   status Pending 536-char remark

   Show marketing remark (536 chars)

   6 units with the potential to make this into 8 units by converting the two existing storage units into additional units. Currently configured as 2 buildings, each with 3 units (plus 1 storage/garage sized unit) on an 11,040 sq. ft. lot. Owner is going to finish repainting the outside of the buildings prior to closing. Other than that, property is being sold completely as-is. All units are currently tenant occupied. Rent Roll & survey are attached in the listing. *Additional 6 units for sale down the road at 1012 Ann St.

8. 2022-07-20
   status Option Pending 536-char remark

   Show marketing remark (536 chars)

   6 units with the potential to make this into 8 units by converting the two existing storage units into additional units. Currently configured as 2 buildings, each with 3 units (plus 1 storage/garage sized unit) on an 11,040 sq. ft. lot. Owner is going to finish repainting the outside of the buildings prior to closing. Other than that, property is being sold completely as-is. All units are currently tenant occupied. Rent Roll & survey are attached in the listing. *Additional 6 units for sale down the road at 1012 Ann St.

9. 2022-06-20
   price $445,000 536-char remark

   Show marketing remark (536 chars)

   6 units with the potential to make this into 8 units by converting the two existing storage units into additional units. Currently configured as 2 buildings, each with 3 units (plus 1 storage/garage sized unit) on an 11,040 sq. ft. lot. Owner is going to finish repainting the outside of the buildings prior to closing. Other than that, property is being sold completely as-is. All units are currently tenant occupied. Rent Roll & survey are attached in the listing. *Additional 6 units for sale down the road at 1012 Ann St.

10. 2022-06-20
    status Active 536-char remark

    Show marketing remark (536 chars)

    6 units with the potential to make this into 8 units by converting the two existing storage units into additional units. Currently configured as 2 buildings, each with 3 units (plus 1 storage/garage sized unit) on an 11,040 sq. ft. lot. Owner is going to finish repainting the outside of the buildings prior to closing. Other than that, property is being sold completely as-is. All units are currently tenant occupied. Rent Roll & survey are attached in the listing. *Additional 6 units for sale down the road at 1012 Ann St.

11. 2022-06-15
    status Option Pending 536-char remark

    Show marketing remark (536 chars)

    6 units with the potential to make this into 8 units by converting the two existing storage units into additional units. Currently configured as 2 buildings, each with 3 units (plus 1 storage/garage sized unit) on an 11,040 sq. ft. lot. Owner is going to finish repainting the outside of the buildings prior to closing. Other than that, property is being sold completely as-is. All units are currently tenant occupied. Rent Roll & survey are attached in the listing. *Additional 6 units for sale down the road at 1012 Ann St.

12. 2022-06-06
    price $455,000 536-char remark

    Show marketing remark (536 chars)

    6 units with the potential to make this into 8 units by converting the two existing storage units into additional units. Currently configured as 2 buildings, each with 3 units (plus 1 storage/garage sized unit) on an 11,040 sq. ft. lot. Owner is going to finish repainting the outside of the buildings prior to closing. Other than that, property is being sold completely as-is. All units are currently tenant occupied. Rent Roll & survey are attached in the listing. *Additional 6 units for sale down the road at 1012 Ann St.

13. 2022-04-28
    listed $475,000 Active 536-char remark

    Show marketing remark (536 chars)

    6 units with the potential to make this into 8 units by converting the two existing storage units into additional units. Currently configured as 2 buildings, each with 3 units (plus 1 storage/garage sized unit) on an 11,040 sq. ft. lot. Owner is going to finish repainting the outside of the buildings prior to closing. Other than that, property is being sold completely as-is. All units are currently tenant occupied. Rent Roll & survey are attached in the listing. *Additional 6 units for sale down the road at 1012 Ann St.

14. 1998-07-30
    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: $9,259 · $772/mo
• Projected year-2 tax: $9,259 · $772/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 1/10 Low FEMA zone X (unshaded) · 0% 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: $69,264
• − Mortgage interest: −$27,448
• − Property taxes: −$9,259
• − Insurance: −$2,450
• − Repairs & maintenance: −$5,541
• − Management: −$5,541
• − Depreciation: −$14,255
• Taxable income: $4,770
• Est. tax owed @ 24.0%: −$1,145
• After-tax cash flow: $11,029/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: Pasadena ISD
• NCES district ID: 4834320
• Math proficiency: 29% ▼ -17.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $45,163
• Composite: 26.15/100
• National rank: #7275
• State rank: #612 of 826 in TX

Livability — Pasadena

• Score: 66/100
• State rank: #600
• US rank: #11438

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D+ Housing A+ Health & safety B- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pasadena, TX
• City population: 109,190
• Population (ZIP): 35,243

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: Predominantly Hispanic (89%)
• Race & ethnicity: Hispanic / Latino 89% Two or more races 36% White 9% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 77%
• Common ancestry: Italian 1%
• Foreign-born: 39% · Canada
• Languages at home: 30% English-only · Spanish 69%

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: ▼ -57.82%
• Current HPI: 315.9695
• Rent YoY: —
• Metro: —
• 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

+3.2% since first listed

13 events — show timeline

• 2026-05-18 Price Changed $490,000 HARMLS
• 2026-03-16 Price Changed $539,900 HARMLS
• 2026-03-01 Listed $600,000 HARMLS
• 2022-09-06 Sold (Public Records) — Public Records
• 2022-09-06 Sold (MLS) — HARMLS
• 2022-07-29 Pending — HARMLS
• 2022-07-20 Pending — HARMLS
• 2022-06-20 Price Changed $445,000 HARMLS
• 2022-06-20 Relisted — HARMLS
• 2022-06-15 Pending — HARMLS
• 2022-06-06 Price Changed $455,000 HARMLS
• 2022-04-28 Listed $475,000 HARMLS
• 1998-07-30 Sold (Public Records) — Public Records

Property tax history

+8.6%/yr

Latest (2025): $9,259 · -10.5% YoY. Source: county tax records.