What is wrong in the sentence is the first word of it. We can assume that "there" is misspelled, and in its place should be 1) the possessive pronoun "their" or 2) the definite article "the", or we can assume that 3) the expletive word "there" should actually be there and the sentence, therefore, is only missing the verb "to be" and a relative pronoun like "that" in order to include an adjective clause in the sentence. For example.
1) Their houses could have been painted years ago with paint containing lead.
2) The houses could have been painted years ago with paint containing lead.
3) There are houses that could have been painted years ago with paint containing lead.
The clause underlined is the adjective clause.
