4340 Phlox St Unit A/B · Houston, TX 77051

$320,000

8 bd · 5.0 ba · 2,936 sqft · MultiFamily · 279 Days on market

Built 2007 Average condition 5,000 sqft lot $109/sqft · 31% below area Est $462k · 31% under ↓ 6% since listing

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Why this score? — see what drove the A 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.7/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Condition / age +2.8/5.0
• Schools +2.7/10.0

Multi-family units

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

Listing remarks MLS

This listing is for both sides A and B. Incredible opportunity for your investors to pick up this tenant occupied multi family in the up and coming area of Flower City. Duplex with two dwellings, each side is a 4 bedroom, 2.5 bath unit. Features private backyard, game room, and an efficient layout with front loading parking. Master bedroom, master bath and bath downstairs. All secondary bedrooms and bathrooms upstairs with game room/TV room. Please contact listing agent for rent docs and disclosures for updates. Separate utility meters. No showings without proof of funds/pre approval + presented offer terms.

Key facts

• Private backyard
• Game room
• Efficient layout

Tags

• PRIVATE BACKYARD
• GAME ROOM
• EFFICIENT LAYOUT
• FRONT LOADING PARKING
• SEPARATE UTILITY METERS

🏷️ Possibly a rental listed for sale. The $320,000 price doesn't fit this home's estimated sale value (~$461,814) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2 × 4.0-bed/2.5-bath units multifamily listed at $320k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $622/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $320k).
• Recommended offer: $282k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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 rising fast (+4.8%/yr); 312 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 $4,374/mo this rent would consume 140% of the median local household income ($37k/yr) (locally 1446% 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 $34k of equity ($2k loan paydown + $32k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 4.8% rent growth), your $90k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$55k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 279 days — a 12% lower offer ($282k) is reasonable based on typical stale-listing flexibility.
• 4 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $281,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 279 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.37% ✓
• Cap rate: 10.96%
• Cash-on-cash: 16.66%
• DSCR: 1.74
• GRM: 6.1

CMA / ARV

• ARV (median comp): $461,814
• List price: $320,000
• Delta: -30.71%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4353 Clover St	0.13mi	8/6.0	3,360 (+14%)	4mo	$570,000	$170	62
4505 Phlox St	0.18mi	8/6.0	3,360 (+14%)	6mo	$555,000	$165	58
9240 Culver Street St Unit A/B	0.40mi	8/2.0	2,860 (-3%)	16mo	$575,000	$201	52
4650 Phlox St	0.37mi	9/4.0 (+1)	3,186 (+8%)	14mo	$389,000	$122	48

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

Projected returns pro-forma

10.0% appreciation · 4.77% rent growth · sell at horizon

5-year hold

• IRR: 37.5%
• Equity multiple: 3.92×
• Total profit: $261,505
• Equity at exit: $288,281

10-year hold

• IRR: 33.0%
• Equity multiple: 9.09×
• Total profit: $725,198
• Equity at exit: $621,690

Cash invested: $89,600 (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 77051

• Home prices YoY: 9.7%
• Rents YoY: 4.8%
• Active inventory: 312
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $4,374 high
• Mortgage (P&I): −$1,678
• Tax est. 1.5%: −$400 /mo · $4,800/yr
• Insurance: −$133
• HOA: −$0
• Vacancy / Maint / Mgmt: −$919
• Net cashflow: $1,244

Break-even live

Break-even rent $2,799

Max offer price $320,000

Occupancy floor 67%

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

Units	Beds	Baths	Est. rent
▸ 2× units	4.0	2.5	$4,374
Total (2 units)			$4,374

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-03-30
   status Active 615-char remark

   Show marketing remark (615 chars)

   This listing is for both sides A and B. Incredible opportunity for your investors to pick up this tenant occupied multi family in the up and coming area of Flower City. Duplex with two dwellings, each side is a 4 bedroom, 2.5 bath unit. Features private backyard, game room, and an efficient layout with front loading parking. Master bedroom, master bath and bath downstairs. All secondary bedrooms and bathrooms upstairs with game room/TV room. Please contact listing agent for rent docs and disclosures for updates. Separate utility meters. No showings without proof of funds/pre approval + presented offer terms.

2. 2026-03-25
   status Pending 615-char remark

   Show marketing remark (615 chars)

   This listing is for both sides A and B. Incredible opportunity for your investors to pick up this tenant occupied multi family in the up and coming area of Flower City. Duplex with two dwellings, each side is a 4 bedroom, 2.5 bath unit. Features private backyard, game room, and an efficient layout with front loading parking. Master bedroom, master bath and bath downstairs. All secondary bedrooms and bathrooms upstairs with game room/TV room. Please contact listing agent for rent docs and disclosures for updates. Separate utility meters. No showings without proof of funds/pre approval + presented offer terms.

3. 2025-08-21
   listed $320,000 Active 615-char remark

   Show marketing remark (615 chars)

   This listing is for both sides A and B. Incredible opportunity for your investors to pick up this tenant occupied multi family in the up and coming area of Flower City. Duplex with two dwellings, each side is a 4 bedroom, 2.5 bath unit. Features private backyard, game room, and an efficient layout with front loading parking. Master bedroom, master bath and bath downstairs. All secondary bedrooms and bathrooms upstairs with game room/TV room. Please contact listing agent for rent docs and disclosures for updates. Separate utility meters. No showings without proof of funds/pre approval + presented offer terms.

4. 2025-08-21
   historical

   Show marketing remark (615 chars)

   This listing is for both sides A and B. Incredible opportunity for your investors to pick up this tenant occupied multi family in the up and coming area of Flower City. Duplex with two dwellings, each side is a 4 bedroom, 2.5 bath unit. Features private backyard, game room, and an efficient layout with front loading parking. Master bedroom, master bath and bath downstairs. All secondary bedrooms and bathrooms upstairs with game room/TV room. Please contact listing agent for rent docs and disclosures for updates. Separate utility meters. No showings without proof of funds/pre approval + presented offer terms.

5. 2025-07-31
   price $330,000
6. 2025-06-29
   listed $335,000 Active
7. 2025-06-29
   historical
8. 2025-05-07
   listed $340,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥109°F today · 21 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: $52,488
• − Mortgage interest: −$17,925
• − Property taxes: −$4,800
• − Insurance: −$1,600
• − Repairs & maintenance: −$4,199
• − Management: −$4,199
• − Depreciation: −$9,309
• Taxable income: $10,456
• Est. tax owed @ 24.0%: −$2,509
• After-tax cash flow: $12,419/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

Average 55/100 Moderate rehab

This multi-family property presents as needing moderate repairs and maintenance, with average condition overall. Painting and landscaping improvements can significantly enhance its resale and rental value.

Repairs flagged

• Minor Paint — Some areas appear slightly faded
• Minor Landscaping — Some areas appear slightly overgrown

Value-add opportunities

• Both Painting — Fresh paint can improve curb appeal and interior aesthetics
• Both Landscaping — Well-maintained landscaping can enhance curb appeal and property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Some areas appear slightly faded	Minor	$500–3,000
Landscaping · Some areas appear slightly overgrown	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Painting — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both Landscaping — Well-maintained landscaping can enhance curb appeal and property value ↑

ⓘ 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): 19,795
• Household income: $37,415
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 1446.0

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 Black (77%)
• Race & ethnicity: Black 77% Hispanic / Latino 16% Two or more races 11% White 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 10%

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: ▲ 16.02%
• Current HPI: 180.4283
• Rent YoY: ▲ 4.77%
• 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

-5.9% since first listed

8 events — show timeline

• 2026-03-30 Relisted — HARMLS
• 2026-03-25 Pending — HARMLS
• 2025-08-21 Listing Removed — HARMLS
• 2025-08-21 Listed $320,000 HARMLS
• 2025-07-31 Price Changed $330,000 HARMLS
• 2025-06-29 Listing Removed — HARMLS
• 2025-06-29 Listed $335,000 HARMLS
• 2025-05-07 Listed $340,000 HARMLS