3225 Dennis St · Houston, TX 77004

$299,900

4 bd · 1.0 ba · 924 sqft · SingleFamily public records · 9 Days on market

Built 2005 2,435 sqft lot Est $215k · 39% over

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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 +25.9/30.0
• DSCR +8.7/10.0
• 1% rule +6.6/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

GREAT LOCATION, PRICE TO SELL, Lot:5000/SQ 50x100, Constant growth, Rapidly evolving neighborhood, Third ward area is called "Economic Corridor", Walking distance to U of H, TSU. Few mins away from Downtown, Midtown, Texas Medical Center, Hobby International Airport, EADO, Museum District, Herman Park, Close to MAJOR FREEWAYS I-45, I59/69 & 288. DUPLEX, 1 bedroom, 1 bath. Long term tenants, Each unit pays $500/Month. Low operating expenses, Great INVESTMENT opportunity, located in the heart of THE 3RD WARD, Great Location for Student Housing or AIR BnB, INCOME PRODUCTING PROPERTY & SELLING FOR LOT VALUE. All new construction & Development in the area. Fastest growing area in Houston, Selling As-Is. NO HOA.

Key facts

• Historic third ward
• No shared bathrooms
• 2,435 sq ft lot

Tags

• FIRST-FLOOR LIVING AREA
• HIGH-STANDARD FINISHES
• NO SHARED BATHROOMS
• MINUTES FROM DOWNTOWN
• HISTORIC THIRD WARD

Property features AI

Exterior

• Parking: Attached 2-car garage; Attached carport; Detached carport
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 2005; Slab foundation
• Construction: Composition roof
• Exterior features: Fenced backyard; Asphalt road access; Lot features: Other

Interior

• Kitchen: Microwave; Quartz counters
• Bedrooms: Primary bedroom on second floor (about 12x14); Two additional bedrooms on second floor (each about 10x12)
• Flooring: Tile; Vinyl
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Quartz counters; 5 total rooms
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $733 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $300k).
• Cap rate 9.2% 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: 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: Blackshear El (math 27% / reading 32%, grade F, #2,525 of 4,322 statewide, top 62%, 308 students, 99% FRL); Cullen Middle (math 6% / reading 14%, grade F, #1,641 of 1,662 statewide, top 99%, 324 students, 100% FRL); Yates H S (math 12% / reading 23%, grade F, #1,451 of 1,632 statewide, top 89%, 851 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 19% at this address vs 31% district-wide (-12 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.3%/yr); 586 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,474/mo this rent would consume 59% of the median local household income ($71k/yr) (locally 3072% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 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: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $299,900

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.16% ✓
• Cap rate: 9.23%
• Cash-on-cash: 10.47%
• DSCR: 1.47
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $215,292
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3216 Dennis St	0.05mi	3/2.0 (-1)	1,008 (+9%)	8mo	$185,000	$184	67
3423 Beulah St	0.33mi	3/1.5 (-1)	1,008 (+9%)	9mo	$235,000	$233	55
2705 Winbern St	0.70mi	3/2.0 (-1)	1,028 (+11%)	13mo	$274,500	$267	29

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.86×
• Total profit: $-12,084
• Equity at exit: $44,716

10-year hold

• IRR: 2.0%
• Equity multiple: 1.12×
• Total profit: $10,302
• Equity at exit: $25,930

Cash invested: $83,972 (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 77004

• Rents YoY: -0.3%
• Active inventory: 586
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,474 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$314 /mo · $3,763/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$729
• Net cashflow: $733

Break-even live

Break-even rent $2,546

Max offer price $299,900

Occupancy floor 74%

Sensitivity live

Price	-10% $903	-5% $818	+0% $733	+5% $648	+10% $563
Rent	-10% $458	-5% $596	+0% $733	+5% $870	+10% $1,007
Rate	-1.0pp $884	-0.5pp $809	base $733	+0.5pp $655	+1.0pp $576

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3719 Elgin St Houston, TX	1.0–5.0	1.0–5.0	1241	$1,636	$1.32	25d	14	0.55mi
2111 Austin St Houston, TX	3.0	1.0–2.0	985	$3,095	$3.14	6d	25	1.20mi
808 Crawford St Houston, TX	1.0–3.0	1.0–3.5	1740	$12,645	$7.27	0d	29	1.48mi

Listing history 7 events

1. 2026-06-21
   days on market $299,900 Active 9 DOM
2. 2026-06-18
   days on market $299,900 Active 6 DOM
3. 2026-06-17
   days on market $299,900 Active 5 DOM
4. 2026-06-16
   days on market $299,900 Active 4 DOM
5. 2026-06-15
   days on market $299,900 Active 3 DOM
6. 2026-06-13
   remarks 391-char remark
7. 2026-06-13
   listed $299,900 Active 1 DOM

ⓘ 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: $3,763 · $314/mo
• Projected year-2 tax: $5,488 · $457/mo
• Expected delta: +$1,725/yr (+$144/mo · 45.8%)

ⓘ 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 (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 23 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: $41,683
• − Mortgage interest: −$16,799
• − Property taxes: −$3,763
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,335
• − Management: −$3,335
• − Depreciation: −$8,724
• Taxable income: $4,228
• Est. tax owed @ 24.0%: −$1,015
• After-tax cash flow: $7,780/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): 35,997
• Household income: $71,199
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 3072.0

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 0.68)
• Race & ethnicity: Black 48% White 27% Hispanic / Latino 13% Two or more races 11% Asian 8%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 82% English-only · Spanish 10% Chinese 2% Other Indo-European 2%

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: ▼ -139.34%
• Current HPI: 199.6066
• Rent YoY: ▼ -0.32%
• 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

+566.4% since first listed

18 events — show timeline

• 2026-06-12 Listed $299,900 HARMLS
• 2024-06-28 Sold (MLS) — HARMLS
• 2024-06-09 Pending — HARMLS
• 2024-05-29 Pending — HARMLS
• 2024-04-10 Relisted — HARMLS
• 2024-02-22 Listing Removed — HARMLS
• 2024-01-25 Listed $199,888 HARMLS
• 2023-06-30 Listing Removed — HARMLS
• 2023-06-14 Relisted — HARMLS
• 2023-06-05 Pending — HARMLS
• 2023-05-30 Pending — HARMLS
• 2023-04-28 Price Changed $257,000 HARMLS
• 2023-03-22 Listed $239,000 HARMLS
• 2020-12-31 Listing Removed — HARMLS
• 2020-09-18 Listed $217,700 HARMLS
• 2013-11-26 Sold (MLS) — HARMLS
• 2013-11-19 Pending — HARMLS
• 2013-05-04 Listed $45,000 HARMLS

Property tax history

+11.2%/yr

Latest (2024): $3,763 · +18.0% YoY. Source: county tax records.