5829 Goforth St · Houston, TX 77021

$139,497

3 bd · 2.0 ba · 1,450 sqft · MultiFamily public records · 45 Days on market

Built 1940 5,000 sqft lot $96/sqft · 56% below area

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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 +23.8/30.0
• 1% rule +8.8/10.0
• DSCR +7.7/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• 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: 1 unit. estimate disagrees with records

Listing remarks

Investor special. A recent rental so make ready should not be too much. Nice inner city dwelling with new developments all around. Close to downtown and most major Houston attractions. 3 bedroom home that is spacious. Make your appointment today

Key facts

• New developments
• Inner city dwelling
• Close to downtown

Tags

• INNER CITY DWELLING
• NEW DEVELOPMENTS
• CLOSE TO DOWNTOWN
• MAJOR HOUSTON ATTRACTIONS

Property features AI

Exterior

• Parking: Attached garage (2 spaces)
• Utilities: Public water
• Home design: Residential property; One- to two-story entry (story count not specified)
• Construction: Cement siding exterior; Composition roof; Built in 1940; Slab foundation
• Exterior features: Subdivision lot

Interior

• Bedrooms: Primary bedroom on the first floor (approx. 12x10); Bedroom on the first floor (approx. 11x10); Bedroom on the first floor (approx. 10x10)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $139k.

Deal economics

• At list price, monthly cash flow is $268 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $139k).
• Recommended offer: $135k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: 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 14% at this address vs 31% district-wide (-17 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 rising (+2.2%/yr); 471 active listings in the ZIP; 40 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).
• At $1,925/mo this rent would consume 51% of the median local household income ($46k/yr) (locally 2532% 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 $965 of loan paydown is wiped out by about $4k 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 45 days — a 3% lower offer ($135k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1940 — 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 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $135,312 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.38% ✓
• Cap rate: 8.60%
• Cash-on-cash: 8.23%
• DSCR: 1.37
• GRM: 6.0

CMA / ARV

• ARV (median comp): $314,061
• List price: $139,497
• Delta: -55.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.17% rent growth · sell at horizon

5-year hold

• IRR: -4.8%
• Equity multiple: 0.82×
• Total profit: $-6,924
• Equity at exit: $20,799

10-year hold

• IRR: 3.8%
• Equity multiple: 1.27×
• Total profit: $10,352
• Equity at exit: $12,061

Cash invested: $39,059 (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 77021

• Home prices YoY: -23.6%
• Rents YoY: 2.2%
• Active inventory: 471
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,925 high
• Mortgage (P&I): −$732
• Tax from tax record: −$463 /mo · $5,562/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $268

Break-even live

Break-even rent $1,586

Max offer price $139,497

Occupancy floor 81%

Sensitivity live

Price	-10% $347	-5% $307	+0% $268	+5% $229	+10% $189
Rent	-10% $116	-5% $192	+0% $268	+5% $344	+10% $420
Rate	-1.0pp $338	-0.5pp $303	base $268	+0.5pp $232	+1.0pp $195

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: $34,874
• Closing costs: $4,185
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5813 England St Unit A Houston, TX	3.0	2.5	1473	$2,195	$1.49	5d	1	0.12mi
6109 Wayland St Houston, TX	4.0	2.0	1600	$1,595	$1.00	0d	1	0.52mi
4722 Old Spanish Trl Unit B301 Houston, TX	2.0	2.0	1027	$1,695	$1.65	45d	1	0.62mi
5924 Schroeder Rd Houston, TX	2.0	1.0	900	$895	$0.99	44d	1	0.62mi
5924 Schroeder Rd Houston, TX	2.0	1.0	900	$895	$0.99	23d	1	0.62mi
4907 Culmore Dr Houston, TX	4.0	2.0	1800	$2,700	$1.50	17d	1	0.62mi
5918 Schroeder Rd Houston, TX	1.0–2.0	1.0	850	$1,000	$1.18	44d	1	0.62mi
3644 Griggs Rd Unit 1047940P Houston, TX	3.0	2.5	1399	$2,161	$1.54	3d	1	0.72mi
6528 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	0d	1	0.72mi
6528 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	44d	1	0.72mi
6532 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	19d	1	0.73mi
4907 Marietta Ln Unit 1494902P Houston, TX	3.0	2.0	1593	$3,278	$2.06	15d	1	0.78mi
5116 Griggs Rd Houston, TX	3.0	2.0	1131	$1,316	$1.16	44d	1	0.85mi
5123 Dewberry St Houston, TX	4.0	2.0	1391	$2,400	$1.73	44d	1	0.87mi
5154 Griggs Rd Unit CAVE Houston, TX	2.0	2.0	1322	$1,420	$1.07	4d	1	0.89mi
3560 Dixie Dr Unit 2165 Houston, TX	2.0	2.0	1322	$1,394	$1.05	0d	1	0.91mi
3560 Dixie Dr Unit 2162 Houston, TX	2.0	2.0	1322	$1,410	$1.07	6d	1	0.91mi
3560 Dixie Dr Apt 422 Houston, TX	2.0	2.0	1322	$1,410	$1.07	8d	1	0.91mi
3560 Dixie Dr Unit 3597 Houston, TX	2.0	2.0	1322	$1,434	$1.08	12d	1	0.91mi
3560 Dixie Dr Unit 3617 Houston, TX	2.0	2.0	1322	$1,435	$1.09	44d	1	0.91mi
4705 Idaho St Houston, TX	3.0	2.5	1664	$2,500	$1.50	18d	1	0.95mi
6926 Paris St Houston, TX	3.0	2.0	1276	$1,900	$1.49	0d	1	0.98mi
6928 Paris St Houston, TX	3.0	2.0	1276	$1,900	$1.49	0d	1	0.99mi
4465 N MacGregor Way Houston, TX	4.0	4.0	1366	$940	$0.69	25d	1	1.01mi
6334 Culberson St Houston, TX	3.0	3.5	1822	$2,311	$1.27	3d	1	1.02mi
6336 Culberson St Houston, TX	3.0	3.5	1822	$2,361	$1.30	6d	1	1.02mi
3426 Tampa St Unit 4272026 Houston, TX	2.0	1.5	1046	$1,500	$1.43	44d	1	1.03mi
4977 Martin Luther King Blvd Houston, TX	4.0	4.0	1396	$870	$0.62	25d	1	1.04mi
5101 Martin Luther King Blvd Unit MO54 Houston, TX	2.0	2.0	1322	$1,210	$0.92	13d	1	1.05mi
7032 Conley St Houston, TX	3.0	2.0	1220	$2,850	$2.34	44d	1	1.06mi
5610 Royal Palms St Houston, TX	2.0	1.0	900	$950	$1.06	25d	1	1.15mi
6735 Peerless St Unit CUNIT A Houston, TX	3.0	3.5	1732	$2,649	$1.53	17d	1	1.23mi
6737 Peerless St Unit A Houston, TX	3.0	3.5	1732	$2,649	$1.53	17d	1	1.23mi
6735c Peerless St Houston, TX	3.0	3.5	1732	$2,599	$1.50	0d	1	1.24mi
5514 Griggs Rd Unit 2047 Houston, TX	2.0	2.0	1322	$1,214	$0.92	4d	1	1.26mi
5514 Griggs Rd Unit 2047 Houston, TX	2.0	2.0	1322	$1,225	$0.93	12d	1	1.26mi
5514 Griggs Rd Houston, TX	2.0	2.0	1322	$1,210	$0.92	44d	1	1.27mi
5514 Griggs Rd Unit 2187 Houston, TX	2.0	2.0	1322	$1,174	$0.89	0d	1	1.27mi
5514 Griggs Rd Unit 2162 Houston, TX	2.0	2.0	1322	$1,190	$0.90	6d	1	1.27mi
5514 Griggs Rd Unit 5571 Houston, TX	2.0	2.0	1322	$1,214	$0.92	12d	1	1.27mi

Listing history 28 events

1. 2026-06-21
   days on market $139,497 Active 45 DOM
2. 2026-06-18
   days on market $139,497 Active 42 DOM
3. 2026-06-17
   days on market $139,497 Active 41 DOM
4. 2026-06-16
   days on market $139,497 Active 40 DOM
5. 2026-06-15
   days on market $139,497 Active 39 DOM
6. 2026-06-13
   pricedays on market $139,497 Active 37 DOM
7. 2026-06-10
   days on market $149,497 Active 33 DOM
8. 2026-06-08
   days on market $149,497 Active 32 DOM
9. 2026-06-07
   days on market $149,497 Active 31 DOM
10. 2026-06-04
    days on market $149,497 Active 28 DOM
11. 2026-06-01
    days on market $149,497 Active 25 DOM
12. 2026-05-31
    days on market $149,497 Active 24 DOM
13. 2026-05-07
    listed $159,497 Active 245-char remark
14. 2024-09-09
    historical
15. 2024-04-07
    listed $250,000 Active
16. 2012-10-16
    historical
17. 2010-02-04
    listed $45,000
18. 2010-01-01
    historical
19. 2009-07-05
    listed $57,000
20. 2009-03-01
    historical
21. 2008-10-08
    listed $64,990
22. 2008-09-12
    historical
23. 2007-12-19
    listed $68,844
24. 2007-09-01
    historical
25. 2006-11-01
    listed $95,000
26. 2005-05-14
    historical
27. 2004-08-14
    listed $65,000
28. 1994-07-25
    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: $5,562 · $463/mo
• Projected year-2 tax: $5,562 · $463/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 (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 25 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: $23,106
• − Mortgage interest: −$7,814
• − Property taxes: −$5,562
• − Insurance: −$697
• − Repairs & maintenance: −$1,848
• − Management: −$1,848
• − Depreciation: −$4,058
• Taxable income: $1,277
• Est. tax owed @ 24.0%: −$307
• After-tax cash flow: $2,909/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): 26,153
• Household income: $45,574
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 2532.0

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 0.55)
• Race & ethnicity: Black 62% Hispanic / Latino 22% Two or more races 12% White 10% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 77% English-only · Spanish 19% French/Haitian/Cajun 1% 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: ▼ -71.22%
• Current HPI: 230.2869
• Rent YoY: ▲ 2.17%
• 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

+114.6% since first listed

18 events — show timeline

• 2026-06-11 Price Changed $139,497 HARMLS
• 2026-05-27 Price Changed $149,497 HARMLS
• 2026-05-07 Listed $159,497 HARMLS
• 2024-09-09 Listing Removed — HARMLS
• 2024-04-07 Listed $250,000 HARMLS
• 2012-10-16 Listing Removed — HARMLS
• 2010-02-04 Listed $45,000 HARMLS
• 2010-01-01 Listing Removed — HARMLS
• 2009-07-05 Listed $57,000 HARMLS
• 2009-03-01 Listing Removed — HARMLS
• 2008-10-08 Listed $64,990 HARMLS
• 2008-09-12 Listing Removed — HARMLS
• 2007-12-19 Listed $68,844 HARMLS
• 2007-09-01 Listing Removed — HARMLS
• 2006-11-01 Listed $95,000 HARMLS
• 2005-05-14 Listing Removed — HARMLS
• 2004-08-14 Listed $65,000 HARMLS
• 1994-07-25 Sold (Public Records) — Public Records

Property tax history

+9.8%/yr

Latest (2025): $5,562 · -12.1% YoY. Source: county tax records.