2406 Delano St · Houston, TX 77004

$143,000

2 bd · 1.0 ba · 782 sqft · SingleFamily public records · 139 Days on market

Built 1930 3,572 sqft lot $183/sqft · 21% below area Est $182k · 21% under ↓ 5% 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 +15.1/30.0
• ARV discount +15.0/15.0
• 1% rule +4.9/10.0
• DSCR +4.6/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Houston is growing with plenty to do! This small-size lot offers excellent visibility and is surrounded by multiple new developments. Located near the University of Houston, Southern University, Toyota Center, George R. Brown Convention Center, Discovery Green Park, and The Medical Center, this property is just minutes from Downtown. Amenities - including Emancipation Avenue and the Recreation Center are within walking distance. The lot is ideal for buyers looking to. build. a custom home, as there are no deed restrictions or zoning, and water utilities are already connected. Investors will find a strong opportunity to capitalize on this growing area with improving. infrastructure. Elementary schools are just a block away, and Midtown—with convenient stores and local restaurants—is across the bridge. Enjoy. local parks and bike- friendly routes right outside your door. This is the perfect spot for someone looking to relocate and build their dream home in a thriving, vibrant Houston neighborhood. This property is a teardown. This version emphasizes: Buyer and Investor readiness Lifestyle convenience (parks, biking, restaurants) Investment potential.

Key facts

• Near toyota center
• 3,572 sq ft lot
• Built 1930

Tags

• NEAR UNIVERSITY OF HOUSTON
• NEAR TOYOTA CENTER
• NEAR DISCOVERY GREEN PARK
• NEAR THE MEDICAL CENTER
• MINUTES FROM DOWNTOWN
• WALKING DISTANCE TO AMENITIES

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $143k.

Deal economics

• At list price, monthly cash flow is $48 ($576/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (1.2% below list).
• Recommended offer: $126k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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 soft (-0.3%/yr); 581 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $989 of loan paydown is wiped out by about $4k 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 139 days — a 12% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 6y ago 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

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; 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 $125,840 (12.0% below list)

Questions for the listing agent

1. It's been on market 139 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 1930 — 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: 0.99% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.44%
• DSCR: 1.06
• GRM: 8.4

CMA / ARV

• ARV (median comp): $181,632
• List price: $143,000
• Delta: -21.27%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3229 Mcgowen St	0.32mi	2/1.0	882 (+13%)	7mo	$169,000	$192	58
3210 Dennis St	0.32mi	2/1.0	892 (+14%)	8mo	$185,000	$207	55
3246 Beulah St	0.51mi	2/2.0	800 (+2%)	23mo	$219,000	$274	49
3029 Beulah St	0.44mi	2/2.0	860 (+10%)	17mo	$205,000	$238	44

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -17.7%
• Equity multiple: 0.40×
• Total profit: $-24,183
• Equity at exit: $21,322

10-year hold

• IRR: -17.5%
• Equity multiple: 0.18×
• Total profit: $-32,830
• Equity at exit: $12,364

Cash invested: $40,040 (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 77004

• Rents YoY: -0.3%
• Active inventory: 581
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,412 high
• Mortgage (P&I): −$750
• Tax from tax record: −$258 /mo · $3,097/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $48

Break-even live

Break-even rent $1,351

Max offer price $143,000

Occupancy floor 92%

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: $35,750
• Closing costs: $4,290
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2675 Gray St Houston, TX	1.0–2.0	1.0–2.0	838	$1,057	$1.26	43d	6	0.15mi
2411 Bastrop St Unit 2 Houston, TX	2.0	1.0	650	$900	$1.38	22d	1	0.25mi
2407 Bastrop St Unit 1 R M Houston, TX	2.0	1.0	650	$1,000	$1.54	43d	1	0.26mi
1887 Ennis St Houston, TX	1.0	1.0	652	$1,089	$1.67	24d	2	0.35mi
2202 Hutchins St Houston, TX	2.0	2.0	887	$1,500	$1.69	43d	1	0.35mi
3122 Leeland St Houston, TX	1.0	1.0	617	$960	$1.56	43d	1	0.48mi
2425 Bell St Houston, TX	2.0	1.0–2.0	860	$2,806	$3.26	2d	76	0.58mi
2301 Chenevert St Houston, TX	1.0	1.0	799	$1,680	$2.10	43d	1	0.58mi
2301 Chenevert St Houston, TX	2.0	2.0	1029	$1,900	$1.85	24d	1	0.58mi
3448 Coyle St Unit 2174 Houston, TX	2.0	2.0	1024	$936	$0.91	3d	1	0.60mi
3448 Coyle St Unit 321 Houston, TX	1.0	1.0	713	$877	$1.23	7d	1	0.60mi
3448 Coyle St Unit 3499 Houston, TX	1.0	1.0	713	$907	$1.27	43d	1	0.60mi
3448 Coyle St Unit 2162 Houston, TX	2.0	2.0	1024	$944	$0.92	5d	1	0.60mi
3448 Coyle St Unit 1162 Houston, TX	1.0	1.0	713	$877	$1.23	5d	1	0.60mi
3448 Coyle St Unit 3469 Houston, TX	1.0	1.0	713	$874	$1.23	3d	1	0.60mi
3448 Coyle St Unit 3469 Houston, TX	1.0	1.0	713	$912	$1.28	15d	1	0.60mi
3448 Coyle St Unit 421 Houston, TX	2.0	2.0	1024	$944	$0.92	7d	1	0.60mi
2216 Chenevert St Houston, TX	1.0–2.0	1.5–2.5	1380	$2,800	$2.03	24d	3	0.60mi
2216 Chenevert St Unit 1256832P Houston, TX	1.0	1.5	1097	$4,034	$3.68	3d	1	0.60mi
3448 Coyle St Houston, TX	1.0	1.0	713	$866	$1.21	12d	1	0.60mi
1920 Hamilton St Houston, TX	2.0	2.0	1117	$2,160	$1.93	43d	1	0.61mi
1800 Saint Joseph Pkwy Unit 1815 Houston, TX	1.0	1.0	760	$1,519	$2.00	15d	1	0.61mi
1800 St Joseph Pkwy Houston, TX	1.0–2.0	1.0–2.0	950	$1,900	$2.00	7d	3	0.61mi
1800 Saint Joseph Pkwy Houston, TX	2.0	2.0	1029	$1,900	$1.85	43d	1	0.61mi
1800 Saint Joseph Pkwy Unit 1815 Houston, TX	1.0	1.0	783	$1,415	$1.81	10d	1	0.61mi
1800 Saint Joseph Pkwy Unit 1837 Houston, TX	2.0	2.0	1117	$1,769	$1.58	10d	1	0.61mi
1800 Saint Joseph Pkwy Unit 2187 Houston, TX	2.0	2.0	1117	$1,780	$1.59	5d	1	0.61mi
1800 Saint Joseph Pkwy Unit 1187 Houston, TX	1.0	1.0	783	$1,373	$1.75	3d	1	0.61mi
1800 Saint Joseph Pkwy Unit 2165 Houston, TX	2.0	2.0	1117	$1,737	$1.56	3d	1	0.61mi
1309 Ennis St Houston, TX	1.0	1.0	764	$986	$1.29	43d	1	0.66mi
2402 Berry St Unit 7 Houston, TX	1.0	1.0	700	$1,850	$2.64	43d	1	0.69mi
2340 Polk St Unit EEL1 Houston, TX	2.0	2.0	1053	$1,775	$1.69	43d	1	0.69mi
2401 Crawford St Unit A210 Houston, TX	2.0	2.5	963	$2,800	$2.91	24d	1	0.70mi
3270 Reeves St Unit 3274 Houston, TX	2.0	1.0	1044	$875	$0.84	24d	1	0.70mi
3339 Simmons St Houston, TX	2.0	1.0	697	$1,000	$1.43	43d	1	0.71mi
3315 Reeves St Unit 3 Houston, TX	2.0	1.0	657	$800	$1.22	5d	1	0.71mi
3210 Winbern St Unit B Houston, TX	2.0	1.0	1000	$1,095	$1.09	20d	1	0.79mi
3122 Lucinda St Houston, TX	2.0	1.0	591	$855	$1.45	22d	1	0.81mi
3122 Lucinda St Houston, TX	2.0	1.0	591	$855	$1.45	43d	1	0.81mi
2117 Austin St Houston, TX	1.0	1.0	735	$1,425	$1.94	43d	1	0.81mi

Listing history 50 events

1. 2026-06-18
   days on market $143,000 Active 139 DOM
2. 2026-06-17
   days on market $143,000 Active 138 DOM
3. 2026-06-16
   days on market $143,000 Active 137 DOM
4. 2026-06-15
   days on market $143,000 Active 136 DOM
5. 2026-06-13
   days on market $143,000 Active 134 DOM
6. 2026-06-10
   days on market $143,000 Active 130 DOM
7. 2026-06-08
   days on market $143,000 Active 129 DOM
8. 2026-06-07
   days on market $143,000 Active 128 DOM
9. 2026-06-04
   days on market $143,000 Active 125 DOM
10. 2026-06-01
    days on market $143,000 Active 122 DOM
11. 2026-05-31
    days on market $143,000 Active 121 DOM
12. 2026-04-06
    price $143,000 1434-char remark

    Show marketing remark (1434 chars)

    Houston is growing with plenty to do! This small-size lot offers excellent visibility and is surrounded by multiple new developments. Located near the University of Houston, Southern University, Toyota Center, George R. Brown Convention Center, Discovery Green Park, and The Medical Center, this property is just minutes from Downtown. Amenities - including Emancipation Avenue and the Recreation Center are within walking distance. The lot is ideal for buyers looking to. build. a custom home, as there are no deed restrictions or zoning, and water utilities are already connected. Investors will find a strong opportunity to capitalize on this growing area with improving. infrastructure. Elementary schools are just a block away, and Midtown—with convenient stores and local restaurants—is across the bridge. Enjoy. local parks and bike- friendly routes right outside your door. This is the perfect spot for someone looking to relocate and build their dream home in a thriving, vibrant Houston neighborhood. This property is a teardown. This version emphasizes: Buyer and Investor readiness Lifestyle convenience (parks, biking, restaurants) Investment potential.

13. 2026-01-25
    listed $150,000 Active 1434-char remark

    Show marketing remark (1434 chars)

    Houston is growing with plenty to do! This small-size lot offers excellent visibility and is surrounded by multiple new developments. Located near the University of Houston, Southern University, Toyota Center, George R. Brown Convention Center, Discovery Green Park, and The Medical Center, this property is just minutes from Downtown. Amenities - including Emancipation Avenue and the Recreation Center are within walking distance. The lot is ideal for buyers looking to. build. a custom home, as there are no deed restrictions or zoning, and water utilities are already connected. Investors will find a strong opportunity to capitalize on this growing area with improving. infrastructure. Elementary schools are just a block away, and Midtown—with convenient stores and local restaurants—is across the bridge. Enjoy. local parks and bike- friendly routes right outside your door. This is the perfect spot for someone looking to relocate and build their dream home in a thriving, vibrant Houston neighborhood. This property is a teardown. This version emphasizes: Buyer and Investor readiness Lifestyle convenience (parks, biking, restaurants) Investment potential.

14. 2026-01-09
    historical
15. 2025-10-20
    price $175,000
16. 2025-04-18
    price $199,000
17. 2025-04-17
    listed $19,900 Active
18. 2025-04-04
    historical
19. 2025-01-24
    price $150,000
20. 2025-01-13
    listed $180,000 Active
21. 2024-12-31
    historical
22. 2024-08-20
    price $180,000
23. 2024-05-08
    listed $199,000 Active
24. 2023-12-25
    historical
25. 2023-02-16
    price $190,000
26. 2023-02-16
    price $250,000
27. 2023-02-15
    listed $210,000 Active
28. 2023-01-31
    historical
29. 2023-01-25
    listed $199,999 Active
30. 2022-12-31
    historical
31. 2022-11-18
    price $119,000
32. 2022-08-10
    listed $128,500 Active
33. 2022-07-08
    status Pending
34. 2022-07-05
    historical
35. 2022-05-25
    status Active
36. 2022-05-13
    status Pending
37. 2022-05-11
    status Option Pending
38. 2022-05-01
    listed $129,900 Active
39. 2022-04-30
    historical
40. 2022-01-20
    price $130,000
41. 2022-01-20
    status Active
42. 2022-01-17
    historical
43. 2021-09-17
    listed $139,000 Active
44. 2021-08-31
    historical
45. 2021-07-03
    price $145,000
46. 2021-05-11
    price $147,900
47. 2021-03-26
    listed $150,000 Active
48. 2021-03-24
    soldstatus
49. 2020-12-30
    soldstatus Sold
50. 2020-10-28
    historical

ⓘ 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: $3,097 · $258/mo
• Projected year-2 tax: $3,097 · $258/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 6/10 Major FEMA zone X (unshaded) · 72% 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: $16,946
• − Mortgage interest: −$8,010
• − Property taxes: −$3,097
• − Insurance: −$715
• − Repairs & maintenance: −$1,356
• − Management: −$1,356
• − Depreciation: −$4,160
• Taxable loss: −$1,748
• Est. tax savings @ 24.0%: +$420
• After-tax cash flow: $996/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): 35,997
• Household income: $71,199
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 3072.0

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 0.68)
• Race & ethnicity: Black 48% White 27% Hispanic / Latino 13% Two or more races 11% Asian 8%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 82% English-only · Spanish 10% Chinese 2% Other Indo-European 2%

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: ▼ -139.34%
• Current HPI: 199.6066
• Rent YoY: ▼ -0.32%
• 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

-4.7% since first listed

44 events — show timeline

• 2026-04-06 Price Changed $143,000 NTREIS
• 2026-01-25 Listed $150,000 NTREIS
• 2026-01-09 Listing Removed — HARMLS
• 2025-10-20 Price Changed $175,000 HARMLS
• 2025-04-18 Price Changed $199,000 HARMLS
• 2025-04-17 Listed $19,900 HARMLS
• 2025-04-04 Listing Removed — HARMLS
• 2025-01-24 Price Changed $150,000 HARMLS
• 2025-01-13 Listed $180,000 HARMLS
• 2024-12-31 Listing Removed — HARMLS
• 2024-08-20 Price Changed $180,000 HARMLS
• 2024-05-08 Listed $199,000 HARMLS
• 2023-12-25 Listing Removed — HARMLS
• 2023-02-16 Price Changed $190,000 HARMLS
• 2023-02-16 Price Changed $250,000 HARMLS
• 2023-02-15 Listed $210,000 HARMLS
• 2023-01-31 Listing Removed — HARMLS
• 2023-01-25 Listed $199,999 HARMLS
• 2022-12-31 Listing Removed — HARMLS
• 2022-11-18 Price Changed $119,000 HARMLS
• 2022-08-10 Listed $128,500 HARMLS
• 2022-07-08 Pending — HARMLS
• 2022-07-05 Listing Removed — HARMLS
• 2022-05-25 Relisted — HARMLS
• 2022-05-13 Pending — HARMLS
• 2022-05-11 Pending — HARMLS
• 2022-05-01 Listed $129,900 HARMLS
• 2022-04-30 Listing Removed — HARMLS
• 2022-01-20 Price Changed $130,000 HARMLS
• 2022-01-20 Relisted — HARMLS
• 2022-01-17 Listing Removed — HARMLS
• 2021-09-17 Listed $139,000 HARMLS
• 2021-08-31 Listing Removed — HARMLS
• 2021-07-03 Price Changed $145,000 HARMLS
• 2021-05-11 Price Changed $147,900 HARMLS
• 2021-03-26 Listed $150,000 HARMLS
• 2021-03-24 Sold (Public Records) — Public Records
• 2020-12-30 Sold (MLS) — HARMLS
• 2020-10-28 Listed $99,000 HARMLS
• 2020-10-28 Listing Removed — HARMLS
• 2020-08-05 Price Changed $115,000 HARMLS
• 2020-06-23 Price Changed $135,000 HARMLS
• 2020-05-28 Listed $150,000 HARMLS
• 1995-01-01 Sold (Public Records) — Public Records

Property tax history

+9.7%/yr

Latest (2025): $3,097 · +3.0% YoY. Source: county tax records.