7575 Katy Fwy · Houston, TX 77024

$175,000

2 bd · 1.0 ba · 898 sqft · MultiFamily · 21 Days on market

Built 1972 Good condition

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Why this score? — see what drove the D+ 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 +8.6/30.0
• Appreciation +8.5/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Condition / age +4.0/5.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• 1% rule +2.7/10.0
• DSCR +2.4/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Great investment opportunity! Gated complex, prime location, zoned for Spring Branch schools including Memorial HS, easy access to major freeways. 2 BR / 1 BATH ground floor unit with pool-view covered patio and in-unit washer/dryer. Total renovation in 2020 including new plumbing, electrical, flooring, bath, kitchen and appliances. New AC in 2024. Long term tenant in place. Good cash flow. Email or text for further information.

Key facts

• Gated complex
• Total renovation
• New plumbing

Tags

• GATED COMPLEX
• PRIME LOCATION
• POOL-VIEW COVERED PATIO
• TOTAL RENOVATION
• NEW PLUMBING
• NEW ELECTRICAL

Property features AI

Exterior

• Home design: Built in 1972
• Construction: Living area of 898
• Exterior features: Located in the Westside subdivision

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-217 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $144k (17.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $134k (23.4% below list).
• Recommended offer: $134k (23.4% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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.
• Spring Branch ISD (urban): math 47% / reading 46% proficiency, ranked #215 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Hunters Creek El (math 76% / reading 66%, grade A-, #128 of 4,322 statewide, top 3%, 604 students, 18% FRL); Spring Branch Middle (math 55% / reading 49%, grade C+, #301 of 1,662 statewide, top 19%, 1,074 students, 39% FRL); Memorial H S (math 73% / reading 85%, grade A-, #50 of 1,632 statewide, top 3%, 2,555 students, 16% FRL) — zoned schools average 24% FRL vs 54% district-wide (30 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 67% at this address vs 46% district-wide (+21 pts) — the actual schools serving this property are materially stronger than the Spring Branch ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.0%/yr); 313 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (6.9% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $134,043 (23.4% 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. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.77% ✗
• Cap rate: 5.26%
• Cash-on-cash: -3.68%
• DSCR: 0.84
• GRM: 10.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.92% appreciation · 4.96% rent growth · sell at horizon

5-year hold

• IRR: 14.1%
• Equity multiple: 2.00×
• Total profit: $49,200
• Equity at exit: $120,366

10-year hold

• IRR: 14.8%
• Equity multiple: 4.26×
• Total profit: $159,581
• Equity at exit: $227,825

Cash invested: $49,000 (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 77024

• Home prices YoY: 2.8%
• Rents YoY: 5.0%
• Active inventory: 313
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $1,340 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $-217

Break-even live

Break-even rent $1,615

Max offer price $143,614

Occupancy floor —

Sensitivity live

Price	-10% $-96	-5% $-156	+0% $-217	+5% $-277	+10% $-338
Rent	-10% $-323	-5% $-270	+0% $-217	+5% $-164	+10% $-111
Rate	-1.0pp $-129	-0.5pp $-172	base $-217	+0.5pp $-262	+1.0pp $-308

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 Silber Rd Houston, TX	1.0	1.0	650	$949	$1.46	14d	1	0.32mi
915 Silber Rd Unit 966 Houston, TX	1.0	1.0	650	$990	$1.52	45d	1	0.33mi
915 Silber Rd Unit 2187 Houston, TX	2.0	2.0	750	$1,099	$1.47	0d	1	0.33mi
915 Silber Rd Unit 936 Houston, TX	1.0	1.0	650	$995	$1.53	15d	1	0.33mi
915 Silber Rd Unit 972 Houston, TX	2.0	2.0	750	$1,139	$1.52	12d	1	0.33mi
915 Silber Rd Unit 989 Houston, TX	1.0	1.0	650	$999	$1.54	12d	1	0.33mi
915 Silber Rd Unit 1162 Houston, TX	1.0	1.0	650	$960	$1.48	7d	1	0.33mi
915 Silber Rd Unit 2162 Houston, TX	2.0	2.0	750	$1,115	$1.49	6d	1	0.33mi
915 Silber Rd Unit 1165 Houston, TX	1.0	1.0	650	$949	$1.46	0d	1	0.33mi
915 Silber Rd Unit 2165 Houston, TX	2.0	2.0	750	$1,140	$1.52	0d	1	0.33mi
415 Silber Rd Houston, TX	2.0	1.0	750	$1,200	$1.60	26d	1	0.33mi
415 Silber Rd Houston, TX	1.0	1.0	720	$1,149	$1.60	26d	1	0.33mi
415 Silber Rd Houston, TX	2.0	1.0	750	$1,200	$1.60	45d	1	0.33mi
7777 Katy Fwy Houston, TX	1.0–2.0	1.0–2.0	1049	$1,928	$1.84	0d	47	0.47mi
1255 N Post Oak Rd Houston, TX	1.0–2.0	1.0–2.0	1065	$1,892	$1.78	0d	22	0.49mi
1148 Silber Rd Houston, TX	1.0–2.0	1.0–2.0	935	$2,235	$2.39	3d	52	0.62mi
1300 N Post Oak Rd Houston, TX	1.0	1.0	717	$1,517	$2.11	3d	18	0.80mi
6003 Westview Dr Houston, TX	1.0	1.0	625	$1,495	$2.39	23d	1	0.83mi
1000 Antoine Dr Houston, TX	1.0	1.0	725	$1,290	$1.78	13d	1	0.84mi
1370 Afton St Unit 790 Houston, TX	2.0	2.0	1049	$1,097	$1.05	26d	1	0.85mi
1370 Afton St Unit 2165 Houston, TX	2.0	2.0	1100	$1,273	$1.16	0d	1	0.85mi
1370 Afton St Unit 1427 Houston, TX	2.0	2.0	1100	$1,313	$1.19	12d	1	0.85mi
1370 Afton St Unit 421 Houston, TX	2.0	2.0	1100	$1,289	$1.17	7d	1	0.85mi
1370 Afton St Unit 1421 Houston, TX	1.0	1.0	700	$814	$1.16	45d	1	0.85mi
1370 Afton St Unit 620 Houston, TX	2.0	1.5	900	$1,124	$1.25	26d	1	0.85mi
1370 Afton St Unit 1162 Houston, TX	1.0	1.0	700	$884	$1.26	7d	1	0.85mi
1370 Afton St Unit 1165 Houston, TX	1.0	1.0	700	$873	$1.25	0d	1	0.85mi
1370 Afton St Unit 2187 Houston, TX	2.0	2.0	1100	$1,314	$1.19	0d	1	0.85mi
1370 Afton St Unit 1391 Houston, TX	1.0	1.0	700	$819	$1.17	16d	1	0.85mi
1370 Afton St Unit 1444 Houston, TX	1.0	1.0	700	$923	$1.32	12d	1	0.85mi
1370 Afton St Houston, TX	1.0	1.0	700	$814	$1.16	15d	1	0.86mi
722 International Blvd Houston, TX	1.0–3.0	1.0–3.5	1530	$2,035	$1.33	0d	30	0.90mi
7106 Old Katy Rd Houston, TX	1.0	1.0	690	$1,494	$2.17	45d	1	0.92mi
731 International Blvd Unit 100 Houston, TX	2.0	2.0	960	$1,325	$1.38	45d	1	0.93mi
7105 Old Katy Rd Houston, TX	1.0–2.0	1.0–2.0	907	$2,197	$2.42	1d	44	0.95mi
6 Westview Dr Houston, TX	1.0	1.0	700	$968	$1.38	15d	1	0.96mi
6 Westview Dr Houston, TX	2.0	1.0	900	$1,182	$1.31	26d	1	0.96mi
6 Westview Dr Houston, TX	1.0	1.0	700	$968	$1.38	26d	1	0.96mi
3939 W 12th St Houston, TX	2.0	1.0–2.0	889	$2,775	$3.12	3d	19	0.98mi
7111 Old Katy Rd Houston, TX	2.0	1.0	1012	$1,575	$1.56	45d	1	1.05mi

Listing history 14 events

1. 2026-06-16
   days on market $175,000 Active 21 DOM
2. 2026-06-15
   days on market $175,000 Active 20 DOM
3. 2026-06-13
   days on market $175,000 Active 18 DOM
4. 2026-06-09
   days on market $175,000 Active 14 DOM
5. 2026-06-08
   days on market $175,000 Active 13 DOM
6. 2026-06-07
   days on market $175,000 Active 12 DOM
7. 2026-06-04
   days on market $175,000 Active 9 DOM
8. 2026-06-03
   days on market $175,000 Active 8 DOM
9. 2026-06-02
   days on market $175,000 Active 7 DOM
10. 2026-06-01
    days on market $175,000 Active 6 DOM
11. 2026-05-31
    days on market $175,000 Active 5 DOM
12. 2026-05-26
    listed $175,000 Active
13. 2025-08-07
    historical $1,500
14. 2025-07-26
    listed $1,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,085
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$1,672
• − Repairs & maintenance: −$1,287
• − Management: −$1,287
• − Depreciation: −$5,091
• Taxable loss: −$5,680
• Est. tax savings @ 24.0%: +$1,363
• After-tax cash flow: $-1,240/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 · 1 photo

Good 80/100 Cosmetic rehab

This multi-family unit is in excellent condition with recent renovations, including a new AC in 2024. It offers a prime location and is ready for immediate rental or resale.

Value-add opportunities

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics
• Rental Replace pool filter — Clean pool water improves tenant satisfaction
• Resale Upgrade kitchen appliances — Modern appliances attract more buyers

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Rental Replace pool filter — Clean pool water improves tenant satisfaction ↑
• Resale Upgrade kitchen appliances — Modern appliances attract more buyers ↑

ⓘ 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: Spring Branch ISD
• NCES district ID: 4841100
• Math proficiency: 47% ▼ -4.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $60,311
• Composite: 40.88/100
• National rank: #3624
• State rank: #215 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): 38,288
• Household income: $136,149
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 1144.0

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: Predominantly White (67%)
• Race & ethnicity: White 67% Asian 14% Hispanic / Latino 12% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 4% Slovak 3% Italian 3%
• Foreign-born: 21% · Canada, China, South Korea
• Languages at home: 70% English-only · Spanish 11% Other Indo-European 4% Chinese 4%

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: ▲ 6.92%
• Current HPI: 256.8342
• Rent YoY: ▲ 4.96%
• 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

+11566.7% since first listed

3 events — show timeline

• 2026-05-26 Listed $175,000 FSBO.com
• 2025-08-07 Rental Removed $1,500 SHOWMOJO
• 2025-07-26 Listed for Rent $1,500 SHOWMOJO