312 Waco St · South Houston, TX 77587

$99,000

2 bd · 1.0 ba · 880 sqft · SingleFamily public records · 120 Days on market

Built 1950 7,000 sqft lot $112/sqft · 39% below area Est $162k · 39% under ↓ 6% since listing

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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 +20.6/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +6.1/10.0
• Livability +3.1/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor and builder opportunity! This corner lot offers excellent potential for redevelopment or future use. The property is being sold at LOT VALUE only and presents a prime opportunity in an established area. DO NOT disturb the occupant. Ideal for buyers looking to capitalize on location and lot positioning.

Key facts

• Established area
• Lot positioning
• Corner lot

Tags

• CORNER LOT
• REDEVELOPMENT POTENTIAL
• ESTABLISHED AREA
• LOT POSITIONING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $90k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 2.1% in South 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 61/100 on livability (#1,034 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Pasadena ISD (suburban): math 29% / reading 32% proficiency, ranked #612 of 826 in TX (top 74%) — 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: 40 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k 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 120 days — a 9% lower offer ($90k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $90,090 (9.0% below list)

Questions for the listing agent

1. It's been on market 120 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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 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: 1.11% ✓
• Cap rate: 7.90%
• Cash-on-cash: 5.73%
• DSCR: 1.25
• GRM: 7.5

CMA / ARV

• ARV (median comp): $162,349
• List price: $99,000
• Delta: -39.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
909 Virginia St	0.48mi	2/1.0	1,008 (+14%)	2mo	$120,000	$119	52
5514 Cripple Brook Ct	0.65mi	2/1.5	904 (+3%)	15mo	$150,000	$166	50
5503 Brookglen Dr	0.68mi	2/1.0	1,000 (+14%)	15mo	$129,000	$129	33

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.4%
• Equity multiple: 0.73×
• Total profit: $-7,564
• Equity at exit: $14,761

10-year hold

• IRR: 2.3%
• Equity multiple: 1.16×
• Total profit: $4,469
• Equity at exit: $8,560

Cash invested: $27,720 (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 77587

• Home prices YoY: -8.8%
• Active inventory: 40
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,102 high
• Mortgage (P&I): −$519
• Tax from tax record: −$178 /mo · $2,131/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $132

Break-even live

Break-even rent $934

Max offer price $99,000

Occupancy floor 83%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6043 Bonn Echo Ln Houston, TX	2.0	2.0	900	$1,165	$1.29	44d	1	0.50mi
8800 Gulf Fwy Houston, TX	1.0–2.0	1.0	750	$1,348	$1.80	1d	6	0.71mi
8625 Winkler Dr Houston, TX	1.0–2.0	1.0	701	$1,310	$1.87	15d	17	0.72mi
8625 Winkler Dr Houston, TX	1.0–2.0	1.0	701	$1,310	$1.87	1d	16	0.72mi
8625 Winkler Dr Houston, TX	1.0	1.0	616	$885	$1.44	17d	1	0.72mi
8625 Winkler Dr Unit 8646 Houston, TX	1.0	1.0	616	$923	$1.50	14d	1	0.74mi
8625 Winkler Dr Unit 2-2125 Houston, TX	2.0	1.0	787	$1,082	$1.37	24d	1	0.74mi
8625 Winkler Dr Unit 8699 Houston, TX	1.0	1.0	616	$927	$1.50	11d	1	0.74mi
8625 Winkler Dr Unit 422 Houston, TX	2.0	2.0	787	$1,096	$1.39	11d	1	0.74mi
9313 Tallyho Rd Houston, TX	1.0–2.0	1.0–2.0	845	$1,328	$1.57	21d	6	0.75mi
5535 Timber Creek Place Dr Houston, TX	1.0–2.0	1.0–2.0	757	$1,214	$1.60	3d	18	0.90mi
8535 Winkler Dr Houston, TX	2.0	1.0	874	$900	$1.03	44d	1	0.90mi
4800 Allendale Rd Unit 1047 Houston, TX	1.0	1.0	1003	$1,044	$1.04	11d	1	0.96mi
4800 Allendale Rd Unit 4821 Houston, TX	1.0	1.0	1003	$1,043	$1.04	11d	1	0.98mi
4800 Allendale Rd Unit 4851 Houston, TX	1.0	1.0	1003	$1,019	$1.02	44d	1	0.98mi
4800 Allendale Rd Unit 1187 Houston, TX	1.0	1.0	1003	$1,001	$1.00	3d	1	0.98mi
4800 Allendale Rd Apt 321 Houston, TX	1.0	1.0	1003	$1,004	$1.00	8d	1	0.98mi
4800 Allendale Rd Unit 4821 Houston, TX	1.0	1.0	1003	$1,039	$1.04	14d	1	0.98mi
4800 Allendale Rd Unit 1162 Houston, TX	1.0	1.0	1003	$1,004	$1.00	5d	1	0.98mi
4800 Allendale Rd Houston, TX	1.0	1.0	1003	$1,043	$1.04	18d	1	0.98mi
8445 Winkler Dr Houston, TX	1.0	1.0	704	$800	$1.14	24d	1	1.00mi
4807 Allendale Rd Houston, TX	1.0	1.0	600	$775	$1.29	44d	1	1.03mi
1901 Forest Oaks Dr Houston, TX	1.0	1.0	1003	$1,029	$1.03	24d	1	1.18mi
5401 Allendale Rd Unit SLAG Houston, TX	1.0	1.0	779	$1,325	$1.70	3d	1	1.24mi
5401 Allendale Rd Houston, TX	1.0	2.0	779	$1,325	$1.70	44d	1	1.24mi
7950 Bellfort St Houston, TX	1.0–2.0	1.0–2.0	796	$1,142	$1.43	2d	15	1.26mi
8335 Bonner Dr Houston, TX	1.0	1.0	700	$950	$1.36	44d	1	1.37mi
1223 Shawnee St Houston, TX	3.0	1.0	1101	$1,695	$1.54	44d	1	1.48mi

Listing history 4 events

1. 2026-05-31
   days on market $99,000 Active 120 DOM
2. 2026-03-28
   price $99,000 312-char remark

   Show marketing remark (312 chars)

   Investor and builder opportunity! This corner lot offers excellent potential for redevelopment or future use. The property is being sold at LOT VALUE only and presents a prime opportunity in an established area. DO NOT disturb the occupant. Ideal for buyers looking to capitalize on location and lot positioning.

3. 2026-01-31
   listed $105,000 Active 312-char remark

   Show marketing remark (312 chars)

   Investor and builder opportunity! This corner lot offers excellent potential for redevelopment or future use. The property is being sold at LOT VALUE only and presents a prime opportunity in an established area. DO NOT disturb the occupant. Ideal for buyers looking to capitalize on location and lot positioning.

4. 1998-01-01
   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: $2,131 · $178/mo
• Projected year-2 tax: $2,131 · $178/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 6/10 Major FEMA zone X (shaded) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥109°F today · 20 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,220
• − Mortgage interest: −$5,546
• − Property taxes: −$2,131
• − Insurance: −$495
• − Repairs & maintenance: −$1,058
• − Management: −$1,058
• − Depreciation: −$2,880
• Taxable income: $54
• Est. tax owed @ 24.0%: −$13
• After-tax cash flow: $1,575/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: Pasadena ISD
• NCES district ID: 4834320
• Math proficiency: 29% ▼ -17.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $45,163
• Composite: 26.15/100
• National rank: #7275
• State rank: #612 of 826 in TX

Livability — South Houston

• Score: 61/100
• State rank: #1034
• US rank: #18442

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety C User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Houston, TX
• City population: 16,058
• Population (ZIP): 16,058

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: Predominantly Hispanic (91%)
• Race & ethnicity: Hispanic / Latino 91% Two or more races 47% White 5% Black 2% Asian 2%
• Hispanic origin (detail): Mexican 82% Cuban 1%
• Common ancestry: Italian 1%
• Foreign-born: 31% · Canada
• Languages at home: 26% English-only · Spanish 72% 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: ▼ -27.05%
• Current HPI: 281.8014
• Rent YoY: —
• Metro: —
• 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

-5.7% since first listed

3 events — show timeline

• 2026-03-28 Price Changed $99,000 HARMLS
• 2026-01-31 Listed $105,000 HARMLS
• 1998-01-01 Sold (Public Records) — Public Records

Property tax history

+4.1%/yr

Latest (2025): $2,131 · +8.6% YoY. Source: county tax records.