7928 Buchanan St · Houston, TX 77029

$289,000

10 bd · 6.0 ba · 3,106 sqft · MultiFamily public records · 87 Days on market

Built 1940 Fair condition 6,900 sqft lot $93/sqft · 48% below area Est $558k · 48% under

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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 +29.1/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.7/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Triplex located just 5.5 miles from East Downtown Houston, fully occupied with all units currently leased. Features a well-balanced unit mix of two 2-bedroom, 1-bath units and one 3-bedroom, 1-bath unit. Situated on a spacious lot with room for thoughtful updates over time. Conveniently positioned with easy access to major highways, and nearby city amenities.

Key facts

• Spacious lot
• 6,900 sq ft lot
• Built 1940

Tags

• SPACIOUS LOT
• EASY ACCESS TO MAJOR HIGHWAYS
• NEARBY CITY AMENITIES

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 1×3bd/1ba units multifamily listed at $289k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $932 ($11k/yr) — positive. Per door: $311/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $289k).
• Recommended offer: $272k (6.0% below list) — sets the bar for market timing.

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: Port Houston El (math 22% / reading 22%, grade F, #3,333 of 4,322 statewide, top 80%, 278 students, 99% FRL); Holland Middle (math 10% / reading 16%, grade F, #1,609 of 1,662 statewide, top 97%, 644 students, 98% FRL); Furr H S (math 8% / reading 25%, grade F, #1,497 of 1,632 statewide, top 92%, 1,173 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 31% district-wide (-14 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: 220 active listings in the ZIP; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $31k of equity ($2k loan paydown + $29k 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 + 3.0% rent growth), your $81k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$50k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 87 days — a 6% lower offer ($272k) is reasonable based on typical stale-listing flexibility.
• 2 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

• Watch-outs: flood insurance adds $66/mo; 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $271,660 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 10.44%
• Cash-on-cash: 14.81%
• DSCR: 1.66
• GRM: 6.1

CMA / ARV

• ARV (median comp): $557,895
• List price: $289,000
• Delta: -48.20%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
812 Maltby St	1.35mi	10/—	3,612 (+16%)	0mo	$299,900	$83	40
8114 Stedman St	0.43mi	8/1.0 (-2)	3,398 (+9%)	15mo	$329,000	$97	31
6603 Avenue J	1.55mi	8/5.0 (-2)	2,760 (-11%)	50mo	$424,900	$154	12
265 Owens St	1.99mi	10/4.0	2,244 (-28%)	26mo	$195,000	$87	12
17 Norwood St	2.01mi	8/4.0 (-2)	3,708 (+19%)	31mo	$550,000	$148	2
205 Bolden St	2.05mi	9/2.0 (-1)	2,434 (-22%)	22mo	$405,000	$166	2
9806 & 9808 Nedwald St	1.93mi	12/2.0 (+2)	2,547 (-18%)	27mo	$430,000	$169	0
9734 Pelsey	1.89mi	9/2.0 (-1)	2,434 (-22%)	30mo	$405,000	$166	0
7301 Sherman St #6	1.56mi	8/1.0 (-2)	3,725 (+20%)	33mo	$430,000	$115	0
114 De Haven St	1.98mi	9/2.0 (-1)	2,434 (-22%)	37mo	$395,000	$162	0

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 34.5%
• Equity multiple: 3.68×
• Total profit: $216,937
• Equity at exit: $260,354

10-year hold

• IRR: 29.7%
• Equity multiple: 8.32×
• Total profit: $592,519
• Equity at exit: $561,463

Cash invested: $80,920 (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 77029

• Home prices YoY: 7.2%
• Active inventory: 220
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $3,954 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$489 /mo · $5,871/yr
• Insurance: −$120
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$830
• Net cashflow: $932

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,564
1× unit	3	1	$1,390
Total (3 units)			$3,954

Break-even live

Break-even rent $2,774

Max offer price $289,000

Occupancy floor 71%

Sensitivity live

Price	-10% $1,096	-5% $1,014	+0% $932	+5% $850	+10% $768
Rent	-10% $620	-5% $776	+0% $932	+5% $1,088	+10% $1,244
Rate	-1.0pp $1,078	-0.5pp $1,006	base $932	+0.5pp $857	+1.0pp $781

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: $72,250
• Closing costs: $8,670
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7900 Lane St Unit A Houston, TX	2.0	2.0	—	$1,450	—	35d	1	0.18mi
7900 Lane St Unit B Houston, TX	3.0	2.5	—	$1,750	—	35d	1	0.18mi
2203 Pearl St Houston, TX	3.0	2.0	1298	$1,570	$1.21	109d	1	0.32mi
8221 Flaxman St Unit A Houston, TX	3.0	2.0	—	$1,800	—	120d	1	0.33mi
8004 Mendez St Houston, TX	2.0	2.0	—	$1,700	—	139d	1	0.42mi
8004 Mendez St Houston, TX	2.0	2.0	—	$1,650	—	0d	1	0.42mi
8502 Richcroft St Houston, TX	3.0	2.0	1704	$1,595	$0.94	5d	1	0.69mi
1503 Teanaway Ln Houston, TX	2.0	1.0	—	$1,350	—	90d	1	0.76mi
8534 Fillmore St Houston, TX	3.0	1.0	965	$1,600	$1.66	139d	1	0.78mi
7046 Avenue U Unit A Houston, TX	1.0	1.0	350	$800	$2.29	139d	1	0.87mi
7046 Avenue U Unit D Houston, TX	1.0	1.0	318	$850	$2.67	65d	1	0.87mi
7046 Avenue U Unit C Houston, TX	1.0	1.0	350	$775	$2.21	69d	1	0.87mi
7046 Avenue U Houston, TX	1.0	1.0	350	$850	$2.43	139d	1	0.87mi
8618 Flossie Mae St Houston, TX	3.0	1.0	—	$1,499	—	139d	1	0.92mi
7209 Karnes St Houston, TX	3.0	1.0	—	$1,350	—	10d	1	0.93mi
7001 Avenue P Unit P Houston, TX	1.0	1.0	—	$1,100	—	11d	1	1.04mi
8710 Josie St Houston, TX	3.0	1.0	1000	$1,090	$1.09	94d	1	1.07mi
8710 Josie St Houston, TX	3.0	1.0	—	$1,090	—	103d	1	1.07mi
6835 Avenue Q Unit B Houston, TX	3.0	2.0	—	$1,700	—	33d	1	1.08mi
7436 Abilene St Houston, TX	2.0	1.0	—	$1,200	—	139d	1	1.10mi
7033 Avenue N Houston, TX	2.0	1.5	—	$2,000	—	120d	1	1.10mi
7033 Avenue N Houston, TX	3.0	2.0	—	$1,750	—	139d	1	1.10mi
8726 Josie St Houston, TX	3.0	1.0	950	$1,000	$1.05	139d	1	1.11mi
7010 Corsicana St Unit B Houston, TX	1.0	1.0	—	$1,200	—	71d	1	1.11mi
1403 70th St #4 Houston, TX	1.0	1.0	—	$1,100	—	11d	1	1.12mi
1307 71st St Unit A Houston, TX	3.0	3.5	—	$2,300	—	107d	1	1.12mi
7002 Corsicana St Unit A Houston, TX	1.0	1.0	—	$1,100	—	90d	1	1.12mi
6637 Avenue T Unit T Houston, TX	3.0	2.0	—	$1,500	—	115d	1	1.13mi
7314 Navigation Blvd Unit A Houston, TX	1.0	1.0	—	$1,200	—	139d	1	1.13mi
7312 Navigation Blvd Unit B Houston, TX	2.0	1.0	—	$1,400	—	120d	1	1.13mi
6812 Avenue Q Unit C Houston, TX	1.0	1.0	—	$695	—	68d	1	1.14mi
6812 Avenue Q Unit C Houston, TX	1.0	1.0	—	$750	—	85d	1	1.14mi
6905 Palestine St Unit C Houston, TX	1.0	1.0	—	$700	—	28d	1	1.14mi
6905 Palestine St Unit C Houston, TX	1.0	1.0	—	$695	—	5d	1	1.14mi
7301 Avenue L Unit L Houston, TX	2.0	1.0	—	$995	—	11d	1	1.15mi
7301 Avenue L Unit L Houston, TX	2.0	1.0	—	$1,145	—	20d	1	1.15mi
7409 Avenue L Unit C Houston, TX	1.0	1.0	—	$850	—	109d	1	1.16mi
7409 Avenue L Unit C Houston, TX	1.0	1.0	—	$850	—	139d	1	1.16mi
7409 Avenue L Unit C Houston, TX	1.0	1.0	—	$850	—	77d	1	1.16mi
7409 Avenue L Unit C Houston, TX	1.0	1.0	—	$800	—	6d	1	1.16mi

Listing history 23 events

1. 2026-06-18
   days on market $289,000 Active 87 DOM
2. 2026-06-17
   days on market $289,000 Active 86 DOM
3. 2026-06-16
   days on market $289,000 Active 85 DOM
4. 2026-06-15
   days on market $289,000 Active 84 DOM
5. 2026-06-13
   days on market $289,000 Active 82 DOM
6. 2026-06-10
   days on market $289,000 Active 78 DOM
7. 2026-06-08
   days on market $289,000 Active 77 DOM
8. 2026-06-07
   days on market $289,000 Active 76 DOM
9. 2026-06-04
   days on market $289,000 Active 73 DOM
10. 2026-06-02
    price $289,000 Active 70 DOM
11. 2026-06-01
    days on market $299,000 Active 70 DOM
12. 2026-05-31
    days on market $299,000 Active 69 DOM
13. 2026-03-23
    listed $299,000 Active 361-char remark

    Show marketing remark (361 chars)

    Triplex located just 5.5 miles from East Downtown Houston, fully occupied with all units currently leased. Features a well-balanced unit mix of two 2-bedroom, 1-bath units and one 3-bedroom, 1-bath unit. Situated on a spacious lot with room for thoughtful updates over time. Conveniently positioned with easy access to major highways, and nearby city amenities.

14. 2013-11-26
    soldstatus
15. 2013-11-22
    soldstatus Sold
16. 2013-10-01
    status Pending
17. 2013-09-23
    status Pending, Continue to Show
18. 2013-09-22
    status Option Pending
19. 2013-08-13
    status Pending
20. 2013-08-06
    status Pending, Continue to Show
21. 2013-07-07
    status Option Pending
22. 2013-03-21
    listed $40,000 Active
23. 1994-08-16
    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: $5,871 · $489/mo
• Projected year-2 tax: $5,871 · $489/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,448
• − Mortgage interest: −$16,188
• − Property taxes: −$5,871
• − Insurance: −$2,242
• − Repairs & maintenance: −$3,796
• − Management: −$3,796
• − Depreciation: −$8,407
• Taxable income: $7,147
• Est. tax owed @ 24.0%: −$1,715
• After-tax cash flow: $9,469/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 · 9 photos

Fair 45/100 Moderate rehab Est. rehab $77,650–$139,770 screening

A fair condition triplex with moderate rehab needs, including clutter removal and paint touch-up. The property is fully occupied and located in a convenient location.

Repairs flagged

• Minor Kitchen appliances — Visible clutter
• Minor Interior walls — Paint appears worn

Value-add opportunities

• Both Clutter removal — Improves aesthetics and functionality ↑
• Both Paint touch-up — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping — Improves curb appeal and enhances property value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 17/100

Zoned Schools

Elementary Port Houston El F TX #3,333/4,322 Nat'l #32,000/41,679 Middle Holland Middle F TX #1,609/1,662 Nat'l #12,966/14,009 High Furr H S F TX #1,497/1,632 Nat'l #15,176/17,239

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

B Composite livability gradescore 74/100

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 · 5,571,493 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 16,154
• Household income: $48,279
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 21% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 32% Black 22% White 5%
• Hispanic origin (detail): Mexican 66%
• Foreign-born: 31% · Canada
• Languages at home: 39% English-only · Spanish 61%

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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: ▲ 18.53%
• Current HPI: 276.1811
• Rent YoY: —
• Metro: Houston-The Woodlands-Sugar Land, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

+647.5% since first listed

11 events — show timeline

• 2026-03-23 Listed $299,000 HARMLS
• 2013-11-26 Sold (Public Records) — Public Records
• 2013-11-22 Sold (MLS) — HARMLS
• 2013-10-01 Pending — HARMLS
• 2013-09-23 Pending — HARMLS
• 2013-09-22 Pending — HARMLS
• 2013-08-13 Pending — HARMLS
• 2013-08-06 Pending — HARMLS
• 2013-07-07 Pending — HARMLS
• 2013-03-21 Listed $40,000 HARMLS
• 1994-08-16 Sold (Public Records) — Public Records

Property tax history

+11.5%/yr

Latest (2025): $5,871 · +1.6% YoY. Source: county tax records.