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Owner Contacts

$518,000

NAL Estimated Property Value

309 Fargo St, Houston, TX, 77006

Off Market

Commercial

2 Beds

2 Bath

1,936 Sq Ft

$221.59 / sqft

Built in 1920

Highlights

Interior

Bedrooms 2

Bathrooms Full 2

Indoor Fireplace

Garage Available

Heating

AppliancesRange, Refrigerator

FlooringWood, Hardwood

Exterior

Lot Size4,848 sqft

Building Information

Year Built1920

Stories2

Garage Spaces4

Land Information

APN0140540000007

SubdivisionFairview

Land UseResidential

Legal DescriptionTRS 7 & 8 BLK 2 FAIRVIEW

Census Tract410502

Assessed Land Value$494,700

Assessed Improvement Value$15,300

Assessment Year2025

About this property

Terrific Opportunity to build new—another duplex or single-family home. Priced for land. Corner lot. Possible restoration of this old Victorian duplex - House while needing repairs, renovation, and updates offers old house charm. Upstairs and downstairs units have vastly different floor plans. Last rents upstairs - 1000 + bills; current rent downstairs 950 + bills. There is a large garage-needs repairs also but large. Corner Lot boasts easy access to Montrose’s great restaurant's, downtown, Medical Center. Property on a block with bungalows on south side and townhomes on north side. Commercial across Morgan, side street. Montrose is busy with activity - exciting new developments on Allen Parkway and W. Dallas. Appointment required to go on lot.

Investor Tools

$518,000

Estimated Property Value

$323,066Estimated Mortgage Balance

$194,934Estimated Equity

52% equity

Estimated Cap Rate

View Rate

Estimated ARV (After-Repair Value)

Calculate ARV

Rent-to-Value Ratio: 0.72%

Rent Estimate

$3,108 /month

Positive

Cash Flow Estimate:

$1,036 /month

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Financing Details

Estimated Taxes & Insurance

HOA Fees

Interest Rate Assumption

$1,018/month

No HOA

5.947%

Tax Information

Annual Taxes

Assessed Value

Assessment Year

Assessed Land

Assessed Improvement

Market Value

Tax Delinquent

$9,625

$510,000

2025

$494,700

$15,300

$510,000

Yes (2023)

Tax History

Year

Tax Paid

Assessed Value

2024

$9,625

$510,000

Mortgage Details

Lender

Loan Type

Loan Amount

Assumable

Position

Origination Date

Maturity Date

Relative Lending Llc

Purchase Money Mortgage

$360,000

First

Jan 4, 2021

N/A

Equity Summary

Est. Mortgage Balance

Est. Equity

Equity %

LTV

Est. Monthly Payment

$323,066

$354,934

52%

62%

$2,159/mo

Rental Potential

Est. Monthly Rent

Est. Monthly Expenses

Est. Cash Flow

Gross Yield

$1,960/mo

$2,159/mo

$-199/mo

4.5%

Learn About the Market: Opportunity in Houston

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