3721 Tuam St #4 · Houston, TX 77004

$390,000

8 bd · None ba · 2,668 sqft · MultiFamily public records · 36 Days on market

Built 1952 5,000 sqft lot $146/sqft · 15% below area Est $457k · 15% under

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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 +28.0/30.0
• ARV discount +14.1/15.0
• DSCR +10.0/10.0
• 1% rule +7.4/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• 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

4plex that has 2 units ready for lease and 2 units yet to be completed. Each unit has the same dimensions, 2bdrm 1bath 650SF. Parking is directly in front of the building and can fit three cars, maybe 4 small. Owner has owned this for 14 years and is interested in selling because he is moving on to larger properties. There will be negotiable items like window units and appliances, however there are two down units that are illustrated in the photos that will require work.

Key facts

• 5,000 sq ft lot
• Built 1952
• Listed 35 days

Property features AI

Finance

• Financial info: Annual taxes reported for 2025

Exterior

• Home design: Residential Income property
• Construction: Built in 1952; Composition roof
• Exterior features: 5,000 square foot lot

Interior

• Bedrooms: Unit 1 has 2 bedrooms; Total of 4 units on the property
• Heating & cooling: Window units for cooling; Window unit heating
• Interior features: Residential income property with multiple units

What this means for you Summary

Snapshot

• This is a 8-bed/?-bath multifamily listed at $390k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $390k).
• Recommended offer: $378k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: 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); 581 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $4,843/mo this rent would consume 82% 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 $3k of loan paydown is wiped out by about $12k 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 36 days — a 3% lower offer ($378k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 19y 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 1952 — 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 $378,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.24% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.40%
• DSCR: 1.60
• GRM: 6.7

CMA / ARV

• ARV (median comp): $457,352
• List price: $390,000
• Delta: -14.73%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-3,915
• Equity at exit: $58,150

10-year hold

• IRR: 5.2%
• Equity multiple: 1.33×
• Total profit: $36,518
• Equity at exit: $33,720

Cash invested: $109,200 (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: 581
• Price-to-rent: 26.8×

Monthly cashflow live

• Estimated rent: $4,843 high
• Mortgage (P&I): −$2,045
• Tax from tax record: −$399 /mo · $4,789/yr
• Insurance: −$162
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,017
• Net cashflow: $1,153

Break-even live

Break-even rent $3,384

Max offer price $390,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$4,844
Total (4 units)			$4,843

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: $97,500
• Closing costs: $11,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3512 Canfield St Houston, TX	8.0	9.0	3500	$950	$0.27	7d	1	0.56mi

Listing history 15 events

1. 2026-06-18
   days on market $390,000 Active 36 DOM
2. 2026-06-17
   days on market $390,000 Active 35 DOM
3. 2026-06-16
   days on market $390,000 Active 34 DOM
4. 2026-06-15
   days on market $390,000 Active 33 DOM
5. 2026-06-13
   days on market $390,000 Active 31 DOM
6. 2026-06-10
   days on market $390,000 Active 27 DOM
7. 2026-06-08
   days on market $390,000 Active 26 DOM
8. 2026-06-07
   days on market $390,000 Active 25 DOM
9. 2026-06-04
   days on market $390,000 Active 22 DOM
10. 2026-06-01
    days on market $390,000 Active 19 DOM
11. 2026-05-31
    days on market $390,000 Active 18 DOM
12. 2026-05-13
    listed $390,000 Active 481-char remark
13. 2007-08-20
    historical
14. 2007-05-29
    listed $159,900
15. 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: $4,789 · $399/mo
• Projected year-2 tax: $7,137 · $595/mo
• Expected delta: +$2,348/yr (+$196/mo · 49.0%)

ⓘ 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 ≥109°F today · 24 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: $58,116
• − Mortgage interest: −$21,846
• − Property taxes: −$4,789
• − Insurance: −$2,748
• − Repairs & maintenance: −$4,649
• − Management: −$4,649
• − Depreciation: −$11,345
• Taxable income: $8,089
• Est. tax owed @ 24.0%: −$1,941
• After-tax cash flow: $11,891/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

+143.9% since first listed

4 events — show timeline

• 2026-05-13 Listed $390,000 HARMLS
• 2007-08-20 Listing Removed — HARMLS
• 2007-05-29 Listed $159,900 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+8.6%/yr

Latest (2025): $4,789 · -6.6% YoY. Source: county tax records.