6309 Sandra St · Houston, TX 77028

$328,999

6 bd · 4.0 ba · 2,301 sqft · MultiFamily public records · 82 Days on market

Built 2024 Good condition 3,791 sqft lot $143/sqft · 18% below area Est $399k · 18% 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).

• ARV discount +15.0/15.0
• Cash flow +12.7/30.0
• Appreciation +7.6/10.0
• 1% rule +4.6/10.0
• Condition / age +4.0/5.0
• DSCR +3.8/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.1/5.0

Multi-family units

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

Listing remarks MLS

Modern 2024-built duplex in Houston’s northeast corridor, with both units currently tenant occupied. Ideal for an investors seeking immediate cash flow. Each mirrored unit offers 3 spacious stories, 3 bedrooms, 2 full baths, and a full kitchen with a contemporary layout. Priced competitively to move, don’t miss this turnkey opportunity to add a fresh, income-generating asset to your portfolio.

Key facts

• 3,791 sq ft lot
• Built 2024
• Listed 82 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $329k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-34 ($-405/yr) — negative. Per door: $-17/mo.
• To cash-flow at today's rent, offer at most $323k (1.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $316k (4.1% below list).
• Recommended offer: $309k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.2% 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 soft (-1.6%/yr); 353 active listings in the ZIP; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,155/mo this rent would consume 99% of the median local household income ($38k/yr) (locally 1177% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $20k of equity ($2k loan paydown + $17k appreciation (5.2% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.2% appreciation + 0.0% rent growth), your $92k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $21k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $309,259 (6.0% 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 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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 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: 0.96% ✗
• Cap rate: 6.17%
• Cash-on-cash: -0.44%
• DSCR: 0.98
• GRM: 8.7

CMA / ARV

• ARV (median comp): $399,174
• List price: $328,999
• Delta: -17.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7311 Sandra St	0.60mi	6/2.0	2,463 (+7%)	16mo	$419,000	$170	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.25% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 11.7%
• Equity multiple: 1.75×
• Total profit: $69,257
• Equity at exit: $191,355

10-year hold

• IRR: 11.7%
• Equity multiple: 3.10×
• Total profit: $193,740
• Equity at exit: $334,391

Cash invested: $92,120 (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 77028

• Home prices YoY: 2.0%
• Rents YoY: -1.6%
• Active inventory: 353
• Price-to-rent: 17.4×

Monthly cashflow live

• Estimated rent: $3,155 high
• Mortgage (P&I): −$1,725
• Tax from tax record: −$664 /mo · $7,966/yr
• Insurance: −$137
• HOA: −$0
• Vacancy / Maint / Mgmt: −$663
• Net cashflow: $-34

Break-even live

Break-even rent $3,198

Max offer price $323,034

Occupancy floor 96%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,154
Total (2 units)			$3,155

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-17
   days on market $328,999 Pending 82 DOM
2. 2026-06-16
   days on market $328,999 Pending 81 DOM
3. 2026-06-15
   days on market $328,999 Pending 80 DOM
4. 2026-06-13
   statusdays on market $328,999 Pending 78 DOM
5. 2026-06-10
   days on market $328,999 Active 74 DOM
6. 2026-06-08
   days on market $328,999 Active 73 DOM
7. 2026-06-07
   days on market $328,999 Active 72 DOM
8. 2026-06-04
   days on market $328,999 Active 69 DOM
9. 2026-06-01
   days on market $328,999 Active 66 DOM
10. 2026-05-31
    days on market $328,999 Active 65 DOM
11. 2026-04-29
    price $328,999 408-char remark

    Show marketing remark (408 chars)

    Modern 2024-built duplex in Houston’s northeast corridor, with both units currently tenant occupied. Ideal for an investors seeking immediate cash flow. Each mirrored unit offers 3 spacious stories, 3 bedrooms, 2 full baths, and a full kitchen with a contemporary layout. Priced competitively to move, don’t miss this turnkey opportunity to add a fresh, income-generating asset to your portfolio.

12. 2026-03-27
    listed $349,999 Active 408-char remark

    Show marketing remark (408 chars)

    Modern 2024-built duplex in Houston’s northeast corridor, with both units currently tenant occupied. Ideal for an investors seeking immediate cash flow. Each mirrored unit offers 3 spacious stories, 3 bedrooms, 2 full baths, and a full kitchen with a contemporary layout. Priced competitively to move, don’t miss this turnkey opportunity to add a fresh, income-generating asset to your portfolio.

13. 2026-03-19
    historical
14. 2026-01-20
    historical $1,350
15. 2026-01-19
    listed $1,350
16. 2025-12-10
    historical $1,550
17. 2025-12-02
    price $1,550
18. 2025-11-03
    listed $349,999 Active
19. 2025-09-28
    listed $1,500
20. 2024-07-01
    soldstatus
21. 2024-03-22
    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: $7,966 · $664/mo
• Projected year-2 tax: $7,966 · $664/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $37,860
• − Mortgage interest: −$18,429
• − Property taxes: −$7,966
• − Insurance: −$1,645
• − Repairs & maintenance: −$3,029
• − Management: −$3,029
• − Depreciation: −$9,571
• Taxable loss: −$5,808
• Est. tax savings @ 24.0%: +$1,394
• After-tax cash flow: $989/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 · 6 photos

Good 80/100 Cosmetic rehab

This modern 2024-built duplex is in excellent condition with a good condition score of 80. It is currently tenant occupied and ready for immediate cash flow. The property has a good foundation and structure, and the interior and exterior are well-maintained. The highest-ROI updates to increase its value include painting, landscaping, adding smart home features, and upgrading kitchen appliances.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value.
• Both Adding smart home features — Smart home features can attract tech-savvy buyers and renters.
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more appealing to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value. ↑
• Both Adding smart home features — Smart home features can attract tech-savvy buyers and renters. ↑
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more appealing to potential buyers and renters. ↑

ⓘ 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): 19,109
• Household income: $38,357
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1177.0

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: Majority Black (57%)
• Race & ethnicity: Black 57% Hispanic / Latino 41% Two or more races 15% White 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 13% · Canada
• Languages at home: 61% English-only · Spanish 38%

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: ▲ 5.25%
• Current HPI: 267.7798
• Rent YoY: ▼ -1.55%
• 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

+21833.3% since first listed

11 events — show timeline

• 2026-04-29 Price Changed $328,999 HARMLS
• 2026-03-27 Listed $349,999 HARMLS
• 2026-03-19 Listing Removed — HARMLS
• 2026-01-20 Rental Removed $1,350 HARMLS
• 2026-01-19 Listed for Rent $1,350 HARMLS
• 2025-12-10 Rental Removed $1,550 HARMLS
• 2025-12-02 Price Changed $1,550 HARMLS
• 2025-11-03 Listed $349,999 HARMLS
• 2025-09-28 Listed for Rent $1,500 HARMLS
• 2024-07-01 Sold (Public Records) — Public Records
• 2024-03-22 Sold (Public Records) — Public Records

Property tax history

+1139.8%/yr

Latest (2025): $7,966 · +1139.8% YoY. Source: county tax records.