7337 Parkes St · Houston, TX 77088

$78,000

2 bd · 1.0 ba · 996 sqft · SingleFamily public records · 197 Days on market

Built 1950 5,035 sqft lot $78/sqft · 57% below area

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Why this score? — see what drove the B- 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Proof of funds must be submitted with all offers. Title open. May be sold with others, Ask about other homes in The White Portfolio. with MLS# 20740904, 25103302, 32779410, 32822403, 41976464, 49921589, 61829172, 61926388, 69519531, 72855195, 93291054, 2813307, 41322797, 26845286, 60423355

Key facts

• 5,035 sq ft lot
• Parking
• Built 1950

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $461 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $69k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.4% vs local median 3.1% 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.
• Aldine ISD (suburban): math 16% / reading 21% proficiency, ranked #790 of 826 in TX (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.0%/yr); 471 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 31% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $539 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 197 days — a 12% lower offer ($69k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $68,640 (12.0% below list)

Questions for the listing agent

1. It's been on market 197 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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 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: 1.81% ✓
• Cap rate: 13.39%
• Cash-on-cash: 25.34%
• DSCR: 2.13
• GRM: 4.6

CMA / ARV

• ARV (median comp): $182,621
• List price: $78,000
• Delta: -57.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7218 Tippett St	0.25mi	2/1.0	1,040 (+4%)	5mo	$99,995	$96	77
7331 Phillips St	0.05mi	2/1.0	848 (-15%)	0mo	$97,000	$114	72
2531 Walcott Ln	0.71mi	2/1.0	900 (-10%)	6mo	$165,000	$183	45
7816 Beckley St	0.36mi	3/2.0 (+1)	1,114 (+12%)	13mo	$207,000	$186	44
1028 N Victory Dr	0.69mi	3/2.0 (+1)	960 (-4%)	12mo	$200,000	$208	42
2438 Calvin St	0.61mi	3/1.0 (+1)	1,104 (+11%)	9mo	$144,000	$130	41
7111 Venus St	0.72mi	3/1.0 (+1)	1,035 (+4%)	16mo	$195,900	$189	41
2409 Areba St	0.61mi	3/1.0 (+1)	906 (-9%)	13mo	$135,000	$149	41
2249 Wilburforce St	0.72mi	2/1.0	888 (-11%)	22mo	$110,000	$124	30

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: 15.1%
• Equity multiple: 1.58×
• Total profit: $12,685
• Equity at exit: $11,630

10-year hold

• IRR: 21.2%
• Equity multiple: 2.52×
• Total profit: $33,236
• Equity at exit: $6,744

Cash invested: $21,840 (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 77088

• Home prices YoY: -23.2%
• Rents YoY: -1.0%
• Active inventory: 471
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,414 high
• Mortgage (P&I): −$409
• Tax from tax record: −$214 /mo · $2,570/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $461

Break-even live

Break-even rent $830

Max offer price $78,000

Occupancy floor 62%

Sensitivity live

Price	-10% $505	-5% $483	+0% $461	+5% $439	+10% $417
Rent	-10% $350	-5% $405	+0% $461	+5% $517	+10% $573
Rate	-1.0pp $500	-0.5pp $481	base $461	+0.5pp $441	+1.0pp $420

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1825 W Little York Rd Houston, TX	2.0	1.0	787	$880	$1.12	44d	1	0.29mi
2432 W Little York Rd Houston, TX	1.0	1.0	600	$995	$1.66	44d	1	0.61mi
8113 Hezekiah Ln Houston, TX	2.0	1.0	698	$1,000	$1.43	0d	1	0.64mi
1464 Ferguson Way Houston, TX	2.0	3.0	850	$1,850	$2.18	44d	1	0.81mi
2602 Dalview St Unit B Houston, TX	2.0	1.0	800	$1,400	$1.75	44d	1	0.93mi
1010 Junell St Unit A Houston, TX	3.0	2.0	1040	$1,550	$1.49	25d	1	0.95mi
7200 T C Jester Blvd Houston, TX	1.0–3.0	1.0–2.0	970	$1,188	$1.22	23d	9	1.10mi
7200 T C Jester Blvd Houston, TX	1.0–3.0	1.0–2.0	1102	$1,275	$1.16	3d	8	1.10mi
929 Marjorie St Unit 1060806P Houston, TX	3.0	2.0	1076	$3,091	$2.87	8d	1	1.18mi
1200 W Tidwell Rd Houston, TX	2.0–3.0	1.0–2.0	938	$1,050	$1.12	0d	11	1.44mi

Listing history 16 events

1. 2026-06-21
   days on market $78,000 Active 197 DOM
2. 2026-06-18
   days on market $78,000 Active 194 DOM
3. 2026-06-17
   days on market $78,000 Active 193 DOM
4. 2026-06-16
   days on market $78,000 Active 192 DOM
5. 2026-06-15
   days on market $78,000 Active 191 DOM
6. 2026-06-13
   days on market $78,000 Active 189 DOM
7. 2026-06-13
   days on market $78,000 Active 188 DOM
8. 2026-06-09
   days on market $78,000 Active 185 DOM
9. 2026-06-08
   days on market $78,000 Active 184 DOM
10. 2026-06-07
    days on market $78,000 Active 183 DOM
11. 2026-06-04
    days on market $78,000 Active 180 DOM
12. 2026-06-03
    days on market $78,000 Active 179 DOM
13. 2026-06-02
    days on market $78,000 Active 178 DOM
14. 2026-05-31
    days on market $78,000 Active 177 DOM
15. 2025-11-15
    listed $78,000 Active 290-char remark

    Show marketing remark (290 chars)

    Proof of funds must be submitted with all offers. Title open. May be sold with others, Ask about other homes in The White Portfolio. with MLS# 20740904, 25103302, 32779410, 32822403, 41976464, 49921589, 61829172, 61926388, 69519531, 72855195, 93291054, 2813307, 41322797, 26845286, 60423355

16. 1988-01-02
    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: $2,570 · $214/mo
• Projected year-2 tax: $2,570 · $214/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 1/10 Low FEMA zone X (unshaded) · 0% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,966
• − Mortgage interest: −$4,369
• − Property taxes: −$2,570
• − Insurance: −$390
• − Repairs & maintenance: −$1,357
• − Management: −$1,357
• − Depreciation: −$2,269
• Taxable income: $4,653
• Est. tax owed @ 24.0%: −$1,117
• After-tax cash flow: $4,418/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: Aldine ISD
• NCES district ID: 4807710
• Math proficiency: 16% ▼ -23.00%
• Reading proficiency: 21% ▼ -11.00%
• Median HH income: $37,081
• Composite: 15.42/100
• National rank: #9317
• State rank: #790 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): 57,047
• Household income: $54,411
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 2294.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 52% Black 37% Two or more races 18% White 6% Asian 4%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Lithuanian 1%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 49% English-only · Spanish 47% Vietnamese 3%

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: ▼ -98.37%
• Current HPI: 325.0499
• Rent YoY: ▼ -1.01%
• 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

2 events — show timeline

• 2025-11-15 Listed $78,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+8.3%/yr

Latest (2025): $2,570 · +6.0% YoY. Source: county tax records.