3810 Cochran St · Houston, TX 77009

$275,000

4 bd · 2.0 ba · 1,600 sqft · MultiFamily public records · 15 Days on market

Built 1960 5,000 sqft lot Est $312k · 12% under

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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 +20.4/30.0
• ARV discount +12.8/15.0
• DSCR +6.5/10.0
• 1% rule +5.5/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Great Investor opportunity inside the Loop!Property is tenant occupied and leased for $650 a month. Please do not disturb tenants. Showings will be accompanied by the owner. Seller will sell adjacent duplexes with this Unit or individually.

Key facts

• Spacious yard
• Convenient access
• Curb appeal

Tags

• GRANITE COUNTERTOPS
• TILE AND WOOD FLOORING
• SPACIOUS YARD
• CURB APPEAL
• CONVENIENT ACCESS

Property features AI

Finance

• Financial info: Annual property tax (2025): $4,268

Exterior

• Home design: Residential income property; Built in 1960
• Construction: Composition roof; 1,600 total building area
• Exterior features: 5,000 square foot lot

Interior

• Bedrooms: 2 total units
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Seller disclosure available

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $360 ($4k/yr) — positive. Per door: $180/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $275k).
• Recommended offer: $271k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.9% 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: Marshall Middle (math 14% / reading 22%, grade F, #1,491 of 1,662 statewide, top 91%, 607 students, 97% FRL); Northside H S (math 15% / reading 26%, grade F, #1,389 of 1,632 statewide, top 86%, 1,168 students, 94% FRL) — zoned schools average 95% FRL vs 71% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 595 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 42% of the median local income ($83k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 15 days — a 2% lower offer ($271k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 $270,875 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.05% ✓
• Cap rate: 7.86%
• Cash-on-cash: 5.60%
• DSCR: 1.25
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $312,000
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1210 Shelby St	0.02mi	4/2.0	1,600 (0%)	3mo	$315,000	$197	97
3816 Cochran St	0.01mi	3/2.0 (-1)	1,624 (+2%)	10mo	$229,000	$141	84
3614 Billingsley St	0.36mi	3/2.0 (-1)	1,540 (-4%)	9mo	$300,000	$195	65
4512 Siegel St	0.75mi	3/3.0 (-1)	1,648 (+3%)	3mo	$195,000	$118	49

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 · 0.84% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.64×
• Total profit: $-27,740
• Equity at exit: $41,003

10-year hold

• IRR: -4.0%
• Equity multiple: 0.76×
• Total profit: $-18,548
• Equity at exit: $23,777

Cash invested: $77,000 (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 77009

• Rents YoY: 0.8%
• Active inventory: 595
• Price-to-rent: 15.9×

Monthly cashflow live

• Estimated rent: $2,883 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$361 /mo · $4,335/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$605
• Net cashflow: $360

Break-even live

Break-even rent $2,428

Max offer price $275,000

Occupancy floor 83%

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,882
Total (2 units)			$2,883

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
914 Bunton St Houston, TX	3.0	2.0	1389	$1,950	$1.40	43d	1	0.16mi
1039 Hillstar St Houston, TX	3.0	2.5	1780	$2,750	$1.54	12d	1	0.33mi
1524 Evelyn St Houston, TX	3.0	2.5	1804	$2,800	$1.55	43d	1	0.55mi
2706 Cochran St Houston, TX	3.0	3.5	1791	$2,700	$1.51	19d	1	0.62mi
2403 Everett St Unit A Houston, TX	3.0	3.5	2093	$2,800	$1.34	43d	1	0.95mi
2516 Ivy St Houston, TX	3.0	1.0	1200	$1,500	$1.25	43d	1	0.98mi
4605 Fisk St Houston, TX	3.0	2.0	1628	$3,000	$1.84	43d	1	1.01mi
5124 Gold St Unit B Houston, TX	3.0	2.5	1650	$1,895	$1.15	43d	1	1.01mi
1416 Fairbanks St Houston, TX	4.0	3.5	1888	$1,899	$1.01	7d	1	1.04mi
401 Walton St Houston, TX	3.0	2.0	2112	$2,500	$1.18	15d	1	1.23mi
412 Paschall St Unit 1316398P Houston, TX	3.0	2.0	1130	$4,840	$4.28	12d	1	1.27mi
410 James St Houston, TX	3.0	2.0	1602	$6,750	$4.21	43d	1	1.34mi
410 James St Unit 1031793P Houston, TX	3.0	2.0	1593	$7,554	$4.74	16d	1	1.34mi
1625 N Main St Houston, TX	3.0	1.0–3.0	994	$2,354	$2.37	3d	42	1.47mi

Listing history 31 events

1. 2026-06-18
   days on market $275,000 Active 15 DOM
2. 2026-06-17
   days on market $275,000 Active 14 DOM
3. 2026-06-16
   days on market $275,000 Active 13 DOM
4. 2026-06-15
   days on market $275,000 Active 12 DOM
5. 2026-06-13
   days on market $275,000 Active 10 DOM
6. 2026-06-09
   days on market $275,000 Active 6 DOM
7. 2026-06-08
   days on market $275,000 Active 5 DOM
8. 2026-06-07
   days on market $275,000 Active 4 DOM
9. 2026-06-04
   pricedays on marketlisting id $275,000 Active 1 DOM
10. 2026-06-01
    days on market $285,000 Active 65 DOM
11. 2026-05-31
    days on market $285,000 Active 64 DOM
12. 2026-05-20
    status Active
13. 2026-04-27
    status Pending
14. 2026-04-16
    status Pending
15. 2026-03-05
    price $285,000
16. 2026-03-04
    listed $285,000 Active
17. 2026-03-04
    historical
18. 2026-01-28
    price $255,000
19. 2026-01-23
    listed $285,000 Active
20. 2018-04-23
    soldstatus
21. 2015-05-27
    soldstatus
22. 2014-03-22
    soldstatus Sold 240-char remark

    Show marketing remark (240 chars)

    Great Investor opportunity inside the Loop!Property is tenant occupied and leased for $650 a month. Please do not disturb tenants. Showings will be accompanied by the owner. Seller will sell adjacent duplexes with this Unit or individually.

23. 2014-02-27
    status Pending, Continue to Show 240-char remark

    Show marketing remark (240 chars)

    Great Investor opportunity inside the Loop!Property is tenant occupied and leased for $650 a month. Please do not disturb tenants. Showings will be accompanied by the owner. Seller will sell adjacent duplexes with this Unit or individually.

24. 2014-02-25
    status Active 240-char remark

    Show marketing remark (240 chars)

    Great Investor opportunity inside the Loop!Property is tenant occupied and leased for $650 a month. Please do not disturb tenants. Showings will be accompanied by the owner. Seller will sell adjacent duplexes with this Unit or individually.

25. 2014-01-01
    status Pending 240-char remark

    Show marketing remark (240 chars)

    Great Investor opportunity inside the Loop!Property is tenant occupied and leased for $650 a month. Please do not disturb tenants. Showings will be accompanied by the owner. Seller will sell adjacent duplexes with this Unit or individually.

26. 2013-11-13
    status Pending, Continue to Show 240-char remark

    Show marketing remark (240 chars)

    Great Investor opportunity inside the Loop!Property is tenant occupied and leased for $650 a month. Please do not disturb tenants. Showings will be accompanied by the owner. Seller will sell adjacent duplexes with this Unit or individually.

27. 2013-10-30
    status Option Pending 240-char remark

    Show marketing remark (240 chars)

    Great Investor opportunity inside the Loop!Property is tenant occupied and leased for $650 a month. Please do not disturb tenants. Showings will be accompanied by the owner. Seller will sell adjacent duplexes with this Unit or individually.

28. 2013-07-29
    listed $125,000 Active 240-char remark

    Show marketing remark (240 chars)

    Great Investor opportunity inside the Loop!Property is tenant occupied and leased for $650 a month. Please do not disturb tenants. Showings will be accompanied by the owner. Seller will sell adjacent duplexes with this Unit or individually.

29. 2008-08-07
    soldstatus
30. 2007-02-06
    soldstatus
31. 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: $4,335 · $361/mo
• Projected year-2 tax: $5,032 · $419/mo
• Expected delta: +$697/yr (+$58/mo · 16.1%)

ⓘ 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 ≥109°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: $34,596
• − Mortgage interest: −$15,404
• − Property taxes: −$4,335
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,768
• − Management: −$2,768
• − Depreciation: −$8,000
• Taxable loss: −$54
• Est. tax savings @ 24.0%: +$13
• After-tax cash flow: $4,328/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): 35,769
• Household income: $83,148
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 994.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 53% White 33% Two or more races 22% Black 8% Asian 3%
• Hispanic origin (detail): Mexican 46%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 20% · Canada
• Languages at home: 55% English-only · Spanish 40% Other Indo-European 2% Other Asian/Pacific 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: ▼ -533.57%
• Current HPI: 219.5037
• Rent YoY: ▲ 0.84%
• 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

+128.0% since first listed

20 events — show timeline

• 2026-05-20 Relisted — HARMLS
• 2026-04-27 Pending — HARMLS
• 2026-04-16 Pending — HARMLS
• 2026-03-05 Price Changed $285,000 HARMLS
• 2026-03-04 Listing Removed — HARMLS
• 2026-03-04 Listed $285,000 HARMLS
• 2026-01-28 Price Changed $255,000 HARMLS
• 2026-01-23 Listed $285,000 HARMLS
• 2018-04-23 Sold (Public Records) — Public Records
• 2015-05-27 Sold (Public Records) — Public Records
• 2014-03-22 Sold (MLS) — HARMLS
• 2014-02-27 Pending — HARMLS
• 2014-02-25 Relisted — HARMLS
• 2014-01-01 Pending — HARMLS
• 2013-11-13 Pending — HARMLS
• 2013-10-30 Pending — HARMLS
• 2013-07-29 Listed $125,000 HARMLS
• 2008-08-07 Sold (Public Records) — Public Records
• 2007-02-06 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

-0.7%/yr

Latest (2025): $4,335 · -0.6% YoY. Source: county tax records.