6406 Calhoun Rd · Houston, TX 77021

$260,000

3 bd · 2.5 ba · 1,453 sqft · SingleFamily · 101 Days on market

Built 2026 Good condition $179/sqft · 9% below area Est $284k · 9% under $5/mo HOA

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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 +11.3/15.0
• Cash flow +7.3/30.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Schools +2.7/10.0
• 1% rule +2.1/10.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

New Construction! Wonderful 2-story, 3-bedroom, 2 1/2 bath home with a covered front porch. Open-concept floor plan with luxury vinyl plank flooring throughout the 1st floor. The kitchen features painted shaker-style cabinetry, stainless steel appliances, tile backsplash, an undermount sink & an island with seating space. The primary suite has a dual-sink vanity & walk-in closet. Fenced front and back yard. Ideally located with easy access to the Med Center, Museum District, downtown & much more. This home is Energy Star Certified & has a 10-year warranty!

Key facts

• Covered front porch
• Undermount sink
• Tile backsplash

Tags

• COVERED FRONT PORCH
• OPEN-CONCEPT FLOOR PLAN
• PAINTED SHAKER-STYLE CABINETRY
• STAINLESS STEEL APPLIANCES
• TILE BACKSPLASH
• UNDERMOUNT SINK

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-343 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $210k (19.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (29.0% below list).
• Recommended offer: $185k (29.0% below list) — sets the bar for 1% rule.
• Cap rate 4.7% 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 rising (+2.2%/yr); 467 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); 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).
• At $1,847/mo this rent would consume 49% of the median local household income ($46k/yr) (locally 2532% 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 $2k of loan paydown is wiped out by about $8k 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 101 days — a 9% lower offer ($237k) is reasonable based on typical stale-listing flexibility.

Recommended offer $184,681 (29.0% 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 101 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.71% ✗
• Cap rate: 4.71%
• Cash-on-cash: -5.65%
• DSCR: 0.75
• GRM: 11.7

CMA / ARV

• ARV (median comp): $284,309
• List price: $260,000
• Delta: -8.55%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6326 Calhoun Rd	0.03mi	3/2.5	1,453 (0%)	7mo	$299,000	$206	93
4715 Ward St	0.40mi	3/2.5	1,454 (+0%)	7mo	$230,000	$158	76
6625 Goforth St	0.40mi	3/1.0	1,489 (+2%)	4mo	$142,000	$95	68
4902 Winfree Dr	0.66mi	3/2.0	1,511 (+4%)	2mo	$169,500	$112	59
4826 Culmore Dr	0.69mi	3/2.0	1,501 (+3%)	3mo	$279,000	$186	58
6832 Goforth St	0.56mi	3/1.0	1,392 (-4%)	5mo	$98,000	$70	56
5126 Hull St	0.51mi	3/2.0	1,306 (-10%)	3mo	$220,000	$168	55
5210 Enyart St	0.62mi	3/2.5	1,587 (+9%)	5mo	$239,999	$151	52
5006 Idaho St	0.55mi	4/2.0 (+1)	1,308 (-10%)	3mo	$225,000	$172	48
6906 England St	0.68mi	3/2.5	1,600 (+10%)	4mo	$309,900	$194	48
6908 England St	0.68mi	3/2.5	1,600 (+10%)	5mo	$309,900	$194	47
4611 Idaho St	0.48mi	4/2.0 (+1)	1,640 (+13%)	4mo	$257,000	$157	46

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 · 2.17% rent growth · sell at horizon

5-year hold

• IRR: -26.9%
• Equity multiple: 0.10×
• Total profit: $-65,464
• Equity at exit: $38,767

10-year hold

• IRR: -27.5%
• Equity multiple: -0.25×
• Total profit: $-91,168
• Equity at exit: $22,480

Cash invested: $72,800 (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 77021

• Home prices YoY: -23.6%
• Rents YoY: 2.2%
• Active inventory: 467
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,847 high
• Mortgage (P&I): −$1,363
• Tax est. 1.5%: −$325 /mo · $3,900/yr
• Insurance: −$108
• HOA: −$5
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $-343

Break-even live

Break-even rent $2,281

Max offer price $210,393

Occupancy floor —

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6532 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	18d	1	0.24mi
6528 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	43d	1	0.24mi
4705 Idaho St Houston, TX	3.0	2.5	1664	$2,500	$1.50	17d	1	0.48mi
5918 Schroeder Rd Houston, TX	1.0–2.0	1.0	850	$1,000	$1.18	43d	1	0.49mi
5924 Schroeder Rd Houston, TX	2.0	1.0	900	$895	$0.99	43d	1	0.49mi
5924 Schroeder Rd Houston, TX	2.0	1.0	900	$895	$0.99	22d	1	0.49mi
5123 Dewberry St Houston, TX	4.0	2.0	1391	$2,400	$1.73	43d	1	0.60mi
5813 England St Unit A Houston, TX	3.0	2.5	1473	$2,195	$1.49	4d	1	0.60mi
5116 Griggs Rd Houston, TX	3.0	2.0	1131	$1,316	$1.16	43d	1	0.74mi
5154 Griggs Rd Unit CAVE Houston, TX	2.0	2.0	1322	$1,420	$1.07	3d	1	0.78mi
7032 Conley St Houston, TX	3.0	2.0	1220	$2,850	$2.34	43d	1	0.78mi
4907 Culmore Dr Houston, TX	4.0	2.0	1800	$2,700	$1.50	16d	1	0.79mi
4942 Bataan Rd Unit 77033 Houston, TX	4.0	2.0	1350	$1,800	$1.33	43d	1	0.83mi
4722 Old Spanish Trl Unit B301 Houston, TX	2.0	2.0	1027	$1,695	$1.65	44d	1	0.92mi
5317 Chennault Rd Unit A Houston, TX	3.0	2.5	1608	$1,999	$1.24	43d	1	0.96mi
4907 Marietta Ln Unit 1494902P Houston, TX	3.0	2.0	1593	$3,278	$2.06	13d	1	0.97mi
5610 Royal Palms St Houston, TX	2.0	1.0	900	$950	$1.06	24d	1	1.03mi
5537 Bataan Rd Houston, TX	2.0	1.0	880	$1,300	$1.48	43d	1	1.04mi
7321 Conley St Unit B Houston, TX	3.0	2.0	1501	$2,025	$1.35	20d	1	1.05mi
7321 Conley St Unit A Houston, TX	3.0	2.5	1869	$2,025	$1.08	20d	1	1.05mi
5514 Griggs Rd Unit 2162 Houston, TX	2.0	2.0	1322	$1,190	$0.90	5d	1	1.05mi
5514 Griggs Rd Unit 422 Houston, TX	2.0	2.0	1322	$1,190	$0.90	7d	1	1.05mi
5514 Griggs Rd Unit 5571 Houston, TX	2.0	2.0	1322	$1,214	$0.92	10d	1	1.05mi
5514 Griggs Rd Unit 2187 Houston, TX	2.0	2.0	1322	$1,182	$0.89	2d	1	1.05mi
5514 Griggs Rd Houston, TX	2.0	2.0	1322	$1,210	$0.92	43d	1	1.06mi
5514 Griggs Rd Unit 2047 Houston, TX	2.0	2.0	1322	$1,214	$0.92	3d	1	1.07mi
5514 Griggs Rd Unit 2047 Houston, TX	2.0	2.0	1322	$1,225	$0.93	11d	1	1.07mi
7358 Guadalcanal Rd Houston, TX	3.0	3.0	1768	$2,195	$1.24	43d	1	1.08mi
3644 Griggs Rd Unit 1047940P Houston, TX	3.0	2.5	1399	$2,161	$1.54	2d	1	1.10mi
5520 Griggs Rd Houston, TX	2.0	2.0	1322	$1,241	$0.94	43d	1	1.13mi
5520 Griggs Rd Houston, TX	2.0	2.0	1322	$1,241	$0.94	22d	1	1.13mi
5101 Martin Luther King Blvd Unit MO54 Houston, TX	2.0	2.0	1322	$1,210	$0.92	12d	1	1.17mi
5835 Southmont St Houston, TX	3.0	2.0	1200	$1,700	$1.42	43d	1	1.18mi
3560 Dixie Dr Unit 3617 Houston, TX	2.0	2.0	1322	$1,435	$1.09	43d	1	1.18mi
3560 Dixie Dr Unit 3597 Houston, TX	2.0	2.0	1322	$1,434	$1.08	10d	1	1.18mi
3560 Dixie Dr Unit 2162 Houston, TX	2.0	2.0	1322	$1,410	$1.07	5d	1	1.18mi
3560 Dixie Dr Apt 422 Houston, TX	2.0	2.0	1322	$1,410	$1.07	7d	1	1.18mi
3560 Dixie Dr Unit 2165 Houston, TX	2.0	2.0	1322	$1,402	$1.06	2d	1	1.18mi
3846 Seabrook St Houston, TX	3.0	3.5	1833	$2,300	$1.25	43d	1	1.21mi
4977 Martin Luther King Blvd Houston, TX	4.0	4.0	1396	$870	$0.62	24d	1	1.22mi

HOA detail

• Monthly dues: $5 · $60/yr

Listing history 12 events

1. 2026-06-18
   days on market $260,000 Active 101 DOM
2. 2026-06-17
   days on market $260,000 Active 100 DOM
3. 2026-06-16
   days on market $260,000 Active 99 DOM
4. 2026-06-15
   days on market $260,000 Active 98 DOM
5. 2026-06-13
   days on market $260,000 Active 96 DOM
6. 2026-06-10
   days on market $260,000 Active 92 DOM
7. 2026-06-08
   days on market $260,000 Active 91 DOM
8. 2026-06-07
   days on market $260,000 Active 90 DOM
9. 2026-06-04
   days on market $260,000 Active 87 DOM
10. 2026-06-01
    days on market $260,000 Active 84 DOM
11. 2026-05-31
    days on market $260,000 Active 83 DOM
12. 2026-03-09
    listed $260,000 Active 578-char remark

    Show marketing remark (578 chars)

    New Construction! Wonderful 2-story, 3-bedroom, 2 1/2 bath home with a covered front porch. Open-concept floor plan with luxury vinyl plank flooring throughout the 1st floor. The kitchen features painted shaker-style cabinetry, stainless steel appliances, tile backsplash, an undermount sink & an island with seating space. The primary suite has a dual-sink vanity & walk-in closet. Fenced front and back yard. Ideally located with easy access to the Med Center, Museum District, downtown & much more. This home is Energy Star Certified & has a 10-year warranty!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,162
• − Mortgage interest: −$14,564
• − Property taxes: −$3,900
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,773
• − Management: −$1,773
• − HOA: −$60
• − Depreciation: −$7,564
• Taxable loss: −$8,772
• Est. tax savings @ 24.0%: +$2,105
• After-tax cash flow: $-2,009/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 · 1 photo

Good 80/100 None rehab

This Energy Star Certified home is in excellent condition with no visible repairs needed. It offers a good return on investment with updates that can significantly increase its value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Replace front door — Improves curb appeal and can increase both resale and rental value.
• Both Upgrade landscaping — Enhances curb appeal and can increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Replace front door — Improves curb appeal and can increase both resale and rental value. ↑
• Both Upgrade landscaping — Enhances curb appeal and can increase both resale and rental value. ↑

ⓘ 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): 26,153
• Household income: $45,574
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 2532.0

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 0.55)
• Race & ethnicity: Black 62% Hispanic / Latino 22% Two or more races 12% White 10% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 77% English-only · Spanish 19% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -71.22%
• Current HPI: 230.2869
• Rent YoY: ▲ 2.17%
• 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

1 event — show timeline

• 2026-03-09 Listed $260,000 HARMLS