2601 Lucinda St · Houston, TX 77004

$450,000

1 bd · 1.0 ba · 780 sqft · MultiFamily public records · 27 Days on market

Built 1940 5,000 sqft lot Est $346k · 30% over ↓ 23% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

6 Units (3 Duplexes) Unit mix = Units (1x1s) Shotgun style Each around 550 sf No Flood Zone Utilities & Amenities Electric/Gas separately Metered. Water, Gas & Electricity City Garbage Collection Located in Houston’s East End Minutes from Downtown, The East River Project, EADO, University of Houston, and much more Opportunity Zoned which yields more tax breaks to investors! Growing demand in the Real Estate market of this area The local apartment submarket indicates stable occupancy with increasing rental rates. New residential and commercial developments in the immediate area

Key facts

• Opportunity zoned
• No flood zone
• 5,000 sq ft lot

Tags

• NO FLOOD ZONE
• LOCATED IN HOUSTON'S EAST END
• OPPORTUNITY ZONED

Property features AI

Finance

• Other: Total building area 2,340
• Financial info: Six total units

Exterior

• Home design: Residential Income property; Originally built in 1940
• Construction: Built in 1940
• Exterior features: 5000 square foot lot; Composition roof

Interior

• Bedrooms: One bedroom units (each unit has 1 bedroom)
• Heating & cooling: Heating provided by window units; Window unit cooling
• Interior features: Residential income property configured as multi-unit

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $450k.

Deal economics

• At list price, monthly cash flow is $6k ($68k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $450k).
• Recommended offer: $443k (1.5% below list) — sets the bar for market timing.
• Cap rate 21.4% 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: Blackshear El (math 27% / reading 32%, grade F, #2,525 of 4,322 statewide, top 62%, 308 students, 99% 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 19% at this address vs 31% district-wide (-12 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 soft (-0.3%/yr); 586 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $14k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $126k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($443k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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 1940 — 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 $443,250 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 2.43% ✓
• Cap rate: 21.35%
• Cash-on-cash: 53.79%
• DSCR: 3.39
• GRM: 3.4

CMA / ARV

• ARV (on-the-fly): $346,320
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3417 Bremond St	0.23mi	2/1.0 (+1)	720 (-8%)	8mo	$319,999	$444	64

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: 48.5%
• Equity multiple: 3.02×
• Total profit: $254,837
• Equity at exit: $67,096

10-year hold

• IRR: 52.9%
• Equity multiple: 5.46×
• Total profit: $561,588
• Equity at exit: $38,908

Cash invested: $126,000 (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 77004

• Rents YoY: -0.3%
• Active inventory: 586
• Price-to-rent: 20.6×

Monthly cashflow live

• Estimated rent: $10,940 high
• Mortgage (P&I): −$2,360
• Tax from tax record: −$447 /mo · $5,367/yr
• Insurance: −$188
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,297
• Net cashflow: $5,648

Break-even live

Break-even rent $3,791

Max offer price $450,000

Occupancy floor 43%

Sensitivity live

Price	-10% $5,903	-5% $5,775	+0% $5,648	+5% $5,521	+10% $5,393
Rent	-10% $4,784	-5% $5,216	+0% $5,648	+5% $6,080	+10% $6,512
Rate	-1.0pp $5,875	-0.5pp $5,762	base $5,648	+0.5pp $5,531	+1.0pp $5,413

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

Units	Beds	Baths	Est. rent
▸ 6× units	3	1	$10,938
Total (6 units)			$10,940

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: $112,500
• Closing costs: $13,500
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3721 Tuam St Houston, TX	2.0	1.0	750	$900	$1.20	45d	1	0.14mi
3122 Lucinda St Houston, TX	2.0	1.0	591	$855	$1.45	45d	1	0.22mi
3122 Lucinda St Houston, TX	2.0	1.0	591	$855	$1.45	23d	1	0.22mi
3719 Elgin St Houston, TX	1.0–5.0	1.0–5.0	1241	$849	$0.68	25d	14	0.25mi
1907 Cullen Blvd Houston, TX	1.0	1.0	620	$1,449	$2.34	45d	1	0.36mi
1907 Cullen Blvd Houston, TX	2.0	2.0	950	$1,509	$1.59	21d	1	0.36mi
1907 Cullen Blvd Houston, TX	2.0	2.0	950	$1,509	$1.59	19d	1	0.36mi
1907 Cullen Blvd Houston, TX	1.0	1.0	620	$1,449	$2.34	18d	1	0.36mi
3448 Coyle St Unit 2174 Houston, TX	2.0	2.0	1024	$928	$0.91	0d	1	0.38mi
3448 Coyle St Unit 3469 Houston, TX	1.0	1.0	713	$912	$1.28	16d	1	0.38mi
3448 Coyle St Unit 3499 Houston, TX	1.0	1.0	713	$907	$1.27	45d	1	0.38mi
3448 Coyle St Unit 1162 Houston, TX	1.0	1.0	713	$877	$1.23	6d	1	0.38mi
3448 Coyle St Unit 2162 Houston, TX	2.0	2.0	1024	$944	$0.92	6d	1	0.38mi
3448 Coyle St Unit 321 Houston, TX	1.0	1.0	713	$877	$1.23	9d	1	0.38mi
3448 Coyle St Unit 421 Houston, TX	2.0	2.0	1024	$944	$0.92	9d	1	0.38mi
3448 Coyle St Unit 3469 Houston, TX	1.0	1.0	713	$866	$1.21	0d	1	0.38mi
3448 Coyle St Houston, TX	1.0	1.0	713	$866	$1.21	14d	1	0.40mi
3339 Simmons St Houston, TX	2.0	1.0	697	$1,000	$1.43	45d	1	0.53mi
3315 Reeves St Unit 3 Houston, TX	2.0	1.0	657	$800	$1.22	6d	1	0.61mi
1887 Ennis St Houston, TX	1.0	1.0	652	$1,089	$1.67	25d	2	0.63mi
4309 Pease St Houston, TX	2.0	1.0	700	$1,100	$1.57	45d	1	0.64mi
4320 Leeland St Unit 3 Houston, TX	1.0	1.0	630	$950	$1.51	45d	1	0.66mi
3122 Leeland St Houston, TX	1.0	1.0	617	$960	$1.56	45d	1	0.66mi
4320 Leeland St Unit 17 Houston, TX	1.0	1.0	630	$975	$1.55	45d	1	0.67mi
3270 Reeves St Unit 3274 Houston, TX	2.0	1.0	1044	$875	$0.84	25d	1	0.67mi
2675 Gray St Houston, TX	1.0–2.0	1.0–2.0	838	$868	$1.04	45d	6	0.78mi
4305 Polk St Unit 4307 Houston, TX	1.0	1.0	551	$975	$1.77	25d	1	0.82mi
3800 Canfield St Houston, TX	2.0	1.0	780	$1,050	$1.35	18d	1	0.85mi
3210 Winbern St Unit B Houston, TX	2.0	1.0	1000	$1,095	$1.09	22d	1	0.86mi
1309 Ennis St Houston, TX	1.0	1.0	764	$986	$1.29	45d	1	0.86mi
4445 Bell St Unit b Houston, TX	2.0	1.0	920	$1,295	$1.41	17d	1	0.86mi
4009 Lamar St Unit C Houston, TX	1.0	1.0	613	$999	$1.63	16d	1	0.87mi
4431 Clay St Unit B Houston, TX	1.0	1.0	600	$950	$1.58	25d	1	0.88mi
4411 Dallas St Houston, TX	2.0	1.0–2.0	734	$1,525	$2.08	0d	14	0.94mi
806 Sampson St Houston, TX	1.0	1.0	763	$1,650	$2.16	3d	18	0.96mi
4405 Woodside St Unit 1 Houston, TX	2.0	1.0	700	$1,175	$1.68	45d	1	0.98mi
4405 Woodside St Unit 2 Houston, TX	2.0	1.0	750	$1,000	$1.33	45d	1	0.98mi
4405 Woodside St #4 Houston, TX	2.0	1.0	750	$1,250	$1.67	45d	1	0.98mi
1425 Munger St Houston, TX	1.0	1.0	850	$2,500	$2.94	45d	1	0.99mi
4626 Bell St Houston, TX	1.0	1.0	690	$850	$1.23	45d	1	0.99mi

Listing history 29 events

1. 2026-06-21
   days on market $450,000 Active 27 DOM
2. 2026-06-18
   days on market $450,000 Active 24 DOM
3. 2026-06-17
   days on market $450,000 Active 23 DOM
4. 2026-06-16
   days on market $450,000 Active 22 DOM
5. 2026-06-15
   days on market $450,000 Active 21 DOM
6. 2026-06-13
   days on market $450,000 Active 19 DOM
7. 2026-06-09
   days on market $450,000 Active 15 DOM
8. 2026-06-08
   days on market $450,000 Active 14 DOM
9. 2026-06-07
   days on market $450,000 Active 13 DOM
10. 2026-06-04
    days on market $450,000 Active 10 DOM
11. 2026-06-03
    days on market $450,000 Active 9 DOM
12. 2026-06-02
    days on market $450,000 Active 8 DOM
13. 2026-06-01
    days on market $450,000 Active 7 DOM
14. 2026-05-31
    days on market $450,000 Active 6 DOM
15. 2026-05-25
    listed $450,000 Active
16. 2026-02-07
    historical
17. 2025-07-10
    price $449,000
18. 2025-04-09
    listed $489,000 Active
19. 2025-02-12
    status Pending
20. 2025-02-05
    status Option Pending
21. 2025-01-31
    historical
22. 2024-12-03
    listed $489,000 Active
23. 2024-11-30
    historical
24. 2024-09-27
    price $489,000
25. 2024-08-19
    price $539,000
26. 2024-06-27
    listed $585,000 Active
27. 2024-01-08
    soldstatus
28. 2024-01-08
    soldstatus
29. 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: $5,367 · $447/mo
• Projected year-2 tax: $8,235 · $686/mo
• Expected delta: +$2,868/yr (+$239/mo · 53.4%)

ⓘ 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) · 66% 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: $131,280
• − Mortgage interest: −$25,207
• − Property taxes: −$5,367
• − Insurance: −$2,250
• − Repairs & maintenance: −$10,502
• − Management: −$10,502
• − Depreciation: −$13,091
• Taxable income: $64,360
• Est. tax owed @ 24.0%: −$15,446
• After-tax cash flow: $52,329/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

-23.1% since first listed

15 events — show timeline

• 2026-05-25 Listed $450,000 HARMLS
• 2026-02-07 Listing Removed — HARMLS
• 2025-07-10 Price Changed $449,000 HARMLS
• 2025-04-09 Listed $489,000 HARMLS
• 2025-02-12 Pending — HARMLS
• 2025-02-05 Pending — HARMLS
• 2025-01-31 Listing Removed — HARMLS
• 2024-12-03 Listed $489,000 HARMLS
• 2024-11-30 Listing Removed — HARMLS
• 2024-09-27 Price Changed $489,000 HARMLS
• 2024-08-19 Price Changed $539,000 HARMLS
• 2024-06-27 Listed $585,000 HARMLS
• 2024-01-08 Sold (Public Records) — Public Records
• 2024-01-08 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+8.7%/yr

Latest (2025): $5,367 · +5.8% YoY. Source: county tax records.