7703 Saint Louis St · Houston, TX 77028

$449,000

6 bd · 5.0 ba · 3,360 sqft · MultiFamily public records · 110 Days on market

Built 2020 6,526 sqft lot $134/sqft · at area comps Est $462k · at est.

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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).

• ARV discount +8.7/15.0
• Cash flow +7.9/30.0
• Appreciation +7.6/10.0
• Livability +3.7/5.0
• 1% rule +3.1/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• DSCR +2.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

ATTENTION INVESTORS!!! Great investment opportunity with strong income potential! This well-maintained duplex features two units, each offering 3 bedrooms and 2 full bathrooms. Each unit boasts a modern kitchen with a large island, breakfast bar, and ample cabinetry, perfect for everyday living and entertaining. Upstairs, you’ll find three spacious bedrooms with cozy carpet and generous closet space, ideal for families, guests, or a home office setup. Step outside to a private fenced backyard with a covered patio, perfect for outdoor activities and family gatherings. Conveniently located just minutes from Minute Maid Park, Downtown Houston, the George R. Brown Convention Center. Easy access to all major freeways I-45, 59 and Beltway 8 Toll Road. Unit A is tenant occupied with lease through 4/30/2027 at $1500/month. Unit B is tenant occupied with lease through 2/28/2027 at $1500/month. Please do not Disturb tenants

Key facts

• Covered patio
• Large island
• Modern kitchen

Tags

• MODERN KITCHEN
• LARGE ISLAND
• PRIVATE FENCED BACKYARD
• COVERED PATIO
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $449k.

Deal economics

• At list price, monthly cash flow is $-470 ($-6k/yr) — negative. Per door: $-235/mo.
• To cash-flow at today's rent, offer at most $366k (18.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $362k (19.5% below list).
• Recommended offer: $362k (19.5% below list) — sets the bar for 1% rule.
• Cap rate 5.0% 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: Elmore El (math 12% / reading 14%, grade F, #4,152 of 4,322 statewide, top 96%, 532 students, 99% FRL); Key Middle (math 10% / reading 20%, grade F, #1,569 of 1,662 statewide, top 95%, 615 students, 100% FRL); Kashmere H S (math 14% / reading 22%, grade F, #1,445 of 1,632 statewide, top 89%, 725 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 15% at this address vs 31% district-wide (-16 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 (-1.6%/yr); 355 active listings in the ZIP; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,616/mo this rent would consume 113% of the median local household income ($38k/yr) (locally 1177% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $27k of equity ($3k loan paydown + $24k appreciation (5.2% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($409k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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

• 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 $361,600 (19.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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. 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?
10. 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.
11. 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.
12. 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: 0.81% ✗
• Cap rate: 5.04%
• Cash-on-cash: -4.49%
• DSCR: 0.80
• GRM: 10.3

CMA / ARV

• ARV (median comp): $461,725
• List price: $449,000
• Delta: -2.76%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7980 Angus St	0.49mi	6/6.0	3,210 (-4%)	9mo	$499,900	$156	58
6813 Parkhurst Dr	0.31mi	6/2.0	2,875 (-14%)	14mo	$480,000	$167	38
7918 Ritz St	0.48mi	6/2.0	2,875 (-14%)	13mo	$480,000	$167	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.25% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 8.6%
• Equity multiple: 1.55×
• Total profit: $69,440
• Equity at exit: $261,151

10-year hold

• IRR: 9.3%
• Equity multiple: 2.71×
• Total profit: $215,251
• Equity at exit: $456,359

Cash invested: $125,720 (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 77028

• Home prices YoY: 2.0%
• Rents YoY: -1.6%
• Active inventory: 355
• Price-to-rent: 20.7×

Monthly cashflow live

• Estimated rent: $3,616 high
• Mortgage (P&I): −$2,355
• Tax from tax record: −$785 /mo · $9,422/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$759
• Net cashflow: $-470

Break-even live

Break-even rent $4,211

Max offer price $365,931

Occupancy floor —

Sensitivity live

Price	-10% $-216	-5% $-343	+0% $-470	+5% $-597	+10% $-724
Rent	-10% $-756	-5% $-613	+0% $-470	+5% $-327	+10% $-185
Rate	-1.0pp $-244	-0.5pp $-356	base $-470	+0.5pp $-587	+1.0pp $-705

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,616
Total (2 units)			$3,616

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-10
   days on market $449,000 Active 110 DOM
2. 2026-06-08
   days on market $449,000 Active 109 DOM
3. 2026-06-07
   days on market $449,000 Active 108 DOM
4. 2026-06-04
   days on market $449,000 Active 105 DOM
5. 2026-06-01
   days on market $449,000 Active 102 DOM
6. 2026-05-31
   days on market $449,000 Active 101 DOM
7. 2026-05-06
   price $449,000 933-char remark

   Show marketing remark (933 chars)

   ATTENTION INVESTORS!!! Great investment opportunity with strong income potential! This well-maintained duplex features two units, each offering 3 bedrooms and 2 full bathrooms. Each unit boasts a modern kitchen with a large island, breakfast bar, and ample cabinetry, perfect for everyday living and entertaining. Upstairs, you’ll find three spacious bedrooms with cozy carpet and generous closet space, ideal for families, guests, or a home office setup. Step outside to a private fenced backyard with a covered patio, perfect for outdoor activities and family gatherings. Conveniently located just minutes from Minute Maid Park, Downtown Houston, the George R. Brown Convention Center. Easy access to all major freeways I-45, 59 and Beltway 8 Toll Road. Unit A is tenant occupied with lease through 4/30/2027 at $1500/month. Unit B is tenant occupied with lease through 2/28/2027 at $1500/month. Please do not Disturb tenants

8. 2026-02-19
   listed $455,000 Active 933-char remark

   Show marketing remark (933 chars)

   ATTENTION INVESTORS!!! Great investment opportunity with strong income potential! This well-maintained duplex features two units, each offering 3 bedrooms and 2 full bathrooms. Each unit boasts a modern kitchen with a large island, breakfast bar, and ample cabinetry, perfect for everyday living and entertaining. Upstairs, you’ll find three spacious bedrooms with cozy carpet and generous closet space, ideal for families, guests, or a home office setup. Step outside to a private fenced backyard with a covered patio, perfect for outdoor activities and family gatherings. Conveniently located just minutes from Minute Maid Park, Downtown Houston, the George R. Brown Convention Center. Easy access to all major freeways I-45, 59 and Beltway 8 Toll Road. Unit A is tenant occupied with lease through 4/30/2027 at $1500/month. Unit B is tenant occupied with lease through 2/28/2027 at $1500/month. Please do not Disturb tenants

9. 2024-02-01
   historical $1,495
10. 2023-12-15
    price $1,495
11. 2023-11-17
    price $1,550
12. 2023-11-16
    listed $1,500
13. 2021-03-02
    soldstatus
14. 2020-05-11
    soldstatus
15. 2020-04-09
    soldstatus
16. 2000-03-31
    soldstatus
17. 1991-10-23
    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: $9,422 · $785/mo
• Projected year-2 tax: $9,422 · $785/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 ≥111°F today · 24 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: $43,392
• − Mortgage interest: −$25,151
• − Property taxes: −$9,422
• − Insurance: −$2,245
• − Repairs & maintenance: −$3,471
• − Management: −$3,471
• − Depreciation: −$13,062
• Taxable loss: −$13,431
• Est. tax savings @ 24.0%: +$3,223
• After-tax cash flow: $-2,419/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): 19,109
• Household income: $38,357
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1177.0

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 Black (57%)
• Race & ethnicity: Black 57% Hispanic / Latino 41% Two or more races 15% White 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 13% · Canada
• Languages at home: 61% English-only · Spanish 38%

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: ▲ 5.25%
• Current HPI: 267.7798
• Rent YoY: ▼ -1.55%
• 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

+29833.3% since first listed

11 events — show timeline

• 2026-05-06 Price Changed $449,000 HARMLS
• 2026-02-19 Listed $455,000 HARMLS
• 2024-02-01 Rental Removed $1,495 APPFOLIO
• 2023-12-15 Price Changed $1,495 APPFOLIO
• 2023-11-17 Price Changed $1,550 APPFOLIO
• 2023-11-16 Listed for Rent $1,500 APPFOLIO
• 2021-03-02 Sold (Public Records) — Public Records
• 2020-05-11 Sold (Public Records) — Public Records
• 2020-04-09 Sold (Public Records) — Public Records
• 2000-03-31 Sold (Public Records) — Public Records
• 1991-10-23 Sold (Public Records) — Public Records

Property tax history

+30.3%/yr

Latest (2025): $9,422 · +14.5% YoY. Source: county tax records.