2824 Randolph Rd #14 · Pasadena, TX 77503

$54,989

3 bd · 2.0 ba · 1,200 sqft · MultiFamily public records · 36 Days on market

Built 1956 0.95 ac lot

---

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 +3.3/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +0.1/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Welcome home to comfort and convenience! This manufactured home offers a warm and inviting layout and a space that feels both cozy and functional. Enjoy the ease of living in a well-maintained community. Whether you’re looking for a place to settle in or simply want something comfortable and affordable in a great location, this home offers a wonderful opportunity. Home is situated on a leased lot within a mobile home community; land is not included.

Key facts

• 0.95 acre lot
• Built 1956
• Listed 36 days

Property features AI

Exterior

• Utilities: Public sewer
• Home design: Residential property; Built in 1956
• Construction: Living area 840; Building area total 840
• Exterior features: Lot nearly 1 acre (0.95 acres); Lot features: Other

Interior

• Bedrooms: Primary bedroom (first floor); Additional bedrooms on the first floor
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: 4 total rooms; Living room on the first floor

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $55k.

Deal economics

• At list price, monthly cash flow is $685 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.2% vs local median 3.4% in Pasadena — 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 66/100 on livability (#600 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Pasadena ISD (suburban): math 29% / reading 32% proficiency, ranked #612 of 826 in TX (top 74%) — 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: Golden Acres El (math 17% / reading 22%, grade F, #3,583 of 4,322 statewide, top 86%, 382 students, 90% FRL); Carter Lomax Middle (math 32% / reading 39%, grade F, #827 of 1,662 statewide, top 51%, 632 students, 74% FRL).
• Market conditions: Rents falling (-9.4%/yr); 77 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 3 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

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $53,339 (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 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 2.45% ✓
• Cap rate: 21.24%
• Cash-on-cash: 53.37%
• DSCR: 3.37
• GRM: 3.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 48.0%
• Equity multiple: 3.00×
• Total profit: $30,772
• Equity at exit: $8,199

10-year hold

• IRR: 52.4%
• Equity multiple: 5.40×
• Total profit: $67,771
• Equity at exit: $4,754

Cash invested: $15,397 (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 77503

• Home prices YoY: -13.7%
• Rents YoY: -9.4%
• Active inventory: 77
• Price-to-rent: 3.4×

Monthly cashflow live

• Estimated rent: $1,348 high
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $825/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $685

Break-even live

Break-even rent $481

Max offer price $54,989

Occupancy floor 44%

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: $13,747
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2824 Randolph Rd Unit 12 Pasadena, TX	3.0	2.0	840	$1,095	$1.30	43d	1	0.03mi
6565 Spencer Hwy Unit 6622 Pasadena, TX	2.0	2.0	858	$1,087	$1.27	2d	1	0.54mi
6565 Spencer Hwy Unit 6598 Pasadena, TX	3.0	2.0	1200	$1,602	$1.33	2d	1	0.54mi
6565 Spencer Hwy Unit 2162 Pasadena, TX	2.0	2.0	858	$1,095	$1.28	4d	1	0.54mi
6571 Spencer Hwy Pasadena, TX	2.0	2.0	870	$1,110	$1.28	43d	1	0.61mi
4311 Glenwood Ave Deer Park, TX	2.0	2.0	1028	$1,001	$0.97	43d	1	0.88mi
800 W Pasadena Blvd Deer Park, TX	3.0	1.0–2.0	965	$2,510	$2.60	1d	22	1.12mi
7201 Spencer Hwy Pasadena, TX	1.0–3.0	1.0–2.0	925	$1,600	$1.73	43d	18	1.14mi
7335 Carrie Ln Deer Park, TX	2.0	1.0	870	$900	$1.03	43d	1	1.19mi
500 W Pasadena Blvd Deer Park, TX	2.0–4.0	2.0–3.0	1300	$2,030	$1.56	1d	25	1.34mi
510 W Pasadena Blvd Deer Park, TX	2.0	2.0	1125	$1,476	$1.31	43d	1	1.35mi
1516 Sam Houston Pkwy Pasadena, TX	1.0–3.0	1.0–2.0	943	$1,600	$1.70	43d	1	1.35mi
407 McDermott St Deer Park, TX	2.0	2.0	1025	$1,220	$1.19	43d	1	1.36mi
401 McDermott St Deer Park, TX	1.0–2.0	1.0–2.0	940	$1,585	$1.69	5d	13	1.38mi
401 W Pasadena Blvd Deer Park, TX	1.0–3.0	1.0–2.0	1038	$2,090	$2.01	1d	21	1.42mi
6066 Fairmont Pkwy Pasadena, TX	2.0	2.0	1060	$1,540	$1.45	43d	1	1.43mi
3506 Red Bluff Rd Pasadena, TX	2.0	1.0	936	$976	$1.04	43d	1	1.44mi
3500 Red Bluff Rd Pasadena, TX	1.0–3.0	1.0–2.0	936	$1,699	$1.82	1d	81	1.48mi

Listing history 20 events

1. 2026-06-18
   days on market $54,989 Active 36 DOM
2. 2026-06-17
   days on market $54,989 Active 35 DOM
3. 2026-06-16
   days on market $54,989 Active 34 DOM
4. 2026-06-15
   days on market $54,989 Active 33 DOM
5. 2026-06-13
   days on market $54,989 Active 31 DOM
6. 2026-06-09
   days on market $54,989 Active 27 DOM
7. 2026-06-08
   days on market $54,989 Active 26 DOM
8. 2026-06-07
   days on market $54,989 Active 25 DOM
9. 2026-06-04
   days on market $54,989 Active 22 DOM
10. 2026-06-03
    days on market $54,989 Active 21 DOM
11. 2026-06-02
    days on market $54,989 Active 20 DOM
12. 2026-06-01
    days on market $54,989 Active 19 DOM
13. 2026-05-31
    days on market $54,989 Active 18 DOM
14. 2026-05-13
    listed $54,989 Active 459-char remark
15. 2026-01-20
    listed $1,095
16. 2026-01-15
    historical $450
17. 2025-02-25
    listed $450
18. 2023-11-03
    soldstatus
19. 2015-12-04
    soldstatus
20. 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.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $16,174
• − Mortgage interest: −$3,080
• − Property taxes: −$825
• − Insurance: −$275
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$1,600
• Taxable income: $7,806
• Est. tax owed @ 24.0%: −$1,873
• After-tax cash flow: $6,344/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: Pasadena ISD
• NCES district ID: 4834320
• Math proficiency: 29% ▼ -17.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $45,163
• Composite: 26.15/100
• National rank: #7275
• State rank: #612 of 826 in TX

Livability — Pasadena

• Score: 66/100
• State rank: #600
• US rank: #11438

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D+ Housing A+ Health & safety B- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pasadena, TX
• County: Harris County · 4,702,590 people
• City population: 109,190
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 23,866
• Household income: $66,797
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1101.0

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 Hispanic (75%)
• Race & ethnicity: Hispanic / Latino 75% Two or more races 34% White 20% Native American 2% Black 2%
• Hispanic origin (detail): Mexican 62% Puerto Rican 3%
• Common ancestry: Italian 3% Romanian 1% Lithuanian 1%
• Foreign-born: 25% · Canada
• Languages at home: 50% English-only · Spanish 49%

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: ▼ -46.01%
• Current HPI: 288.9079
• Rent YoY: ▼ -9.41%
• 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

+4921.8% since first listed

7 events — show timeline

• 2026-05-13 Listed $54,989 HARMLS
• 2026-01-20 Listed for Rent $1,095 BUILDIUM
• 2026-01-15 Rental Removed $450 BUILDIUM
• 2025-02-25 Listed for Rent $450 BUILDIUM
• 2023-11-03 Sold (Public Records) — Public Records
• 2015-12-04 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+5.5%/yr

Latest (2025): $7,022 · +3.2% YoY. Source: county tax records.