3412 Rosedale St · Houston, TX 77004

$374,500

4 bd · 2.0 ba · 3,031 sqft · MultiFamily public records · 191 Days on market

Built 1945 6,900 sqft lot $124/sqft · 29% below area Est $526k · 29% under ↓ 12% since listing

---

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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.9/10.0
• 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: 2 units. confirmed

Listing remarks MLS

This impressive duplex features three well-appointed bedrooms on the lower level, complete with modern upgrades including central air conditioning, heating, and new windows. The upper unit boasts two bedrooms and a sunroom, offering potential to enhance its value, although it currently has three window AC units that need updating. Situated on a generous lot, this property is strategically located near downtown, the University of Houston, and Texas Southern University. It's also in proximity to the Museum District, the Medical Center, and Midtown, with excellent access to public transportation. This property represents a strong investment opportunity in an area that is on the rise, making it a prime candidate for Airbnb rentals. Additionally, the seller is actively addressing foundation repairs for the pier-and-beam system, ensuring the structure's integrity for years to come.

Key facts

• Generous lot
• Modern upgrades
• Foundation repairs

Tags

• CENTRAL AIR CONDITIONING
• MODERN UPGRADES
• NEW WINDOWS
• SUNROOM
• GENEROUS LOT
• FOUNDATION REPAIRS

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $374k.

Deal economics

• At list price, monthly cash flow is $822 ($10k/yr) — positive. Per door: $411/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $374k).
• Recommended offer: $330k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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 soft (-0.3%/yr); 586 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $4,462/mo this rent would consume 75% 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 $11k 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 191 days — a 12% lower offer ($330k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1945 — 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 $329,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 191 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. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.19% ✓
• Cap rate: 8.93%
• Cash-on-cash: 9.41%
• DSCR: 1.42
• GRM: 7.0

CMA / ARV

• ARV (median comp): $525,741
• List price: $374,500
• Delta: -28.77%
• 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
3404 Rosedale St	0.02mi	3/3.0 (-1)	3,470 (+14%)	7mo	$825,000	$238	60
2806 Rosewood St	0.62mi	3/2.0 (-1)	3,351 (+11%)	2mo	$624,900	$186	47
2903 Wichita St	0.55mi	4/2.0	2,660 (-12%)	14mo	$550,000	$207	42
2714 Palm St	0.64mi	4/1.0	3,396 (+12%)	15mo	$425,000	$125	34

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: -5.6%
• Equity multiple: 0.80×
• Total profit: $-21,261
• Equity at exit: $55,839

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-1,063
• Equity at exit: $32,380

Cash invested: $104,860 (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: 586
• Price-to-rent: 14.0×

Monthly cashflow live

• Estimated rent: $4,462 high
• Mortgage (P&I): −$1,964
• Tax from tax record: −$583 /mo · $6,994/yr
• Insurance: −$156
• HOA: −$0
• Vacancy / Maint / Mgmt: −$937
• Net cashflow: $822

Break-even live

Break-even rent $3,421

Max offer price $374,500

Occupancy floor 77%

Sensitivity live

Price	-10% $1,034	-5% $928	+0% $822	+5% $716	+10% $610
Rent	-10% $470	-5% $646	+0% $822	+5% $998	+10% $1,175
Rate	-1.0pp $1,011	-0.5pp $917	base $822	+0.5pp $725	+1.0pp $626

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$4,462
Total (2 units)			$4,462

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: $93,625
• Closing costs: $11,235
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3535 Wentworth St Houston, TX	4.0	3.0	2600	$2,650	$1.02	23d	1	0.29mi
2703 Blodgett St Unit 1047952P Houston, TX	1.0–5.0	1.5–5.5	2497	$14,025	$5.62	0d	2	0.65mi
5505 Zoemark Ln Houston, TX	3.0	3.5	2477	$2,850	$1.15	45d	1	0.70mi
3507 Canfield St Houston, TX	3.0	2.5	2200	$2,350	$1.07	25d	1	0.79mi
2403 Arbor St Houston, TX	3.0	2.5	2344	$2,800	$1.19	45d	1	0.82mi
5927 Almeda Rd Unit AHP3 Houston, TX	4.0	4.5	3055	$7,635	$2.50	5d	1	1.13mi
5927 Almeda Rd Houston, TX	1.0–4.0	1.0–4.0	3055	$7,635	$2.50	0d	4	1.14mi
5927 Almeda Rd Houston, TX	1.0–4.0	1.0–4.0	3055	$7,635	$2.50	0d	3	1.14mi
5927 Almeda Rd Houston, TX	2.0–4.0	2.5–4.0	3055	$7,635	$2.50	14d	2	1.14mi
5927 Almeda Rd Houston, TX	4.0	4.0	3055	$7,635	$2.50	45d	1	1.15mi
5927 Almeda Rd Houston, TX	4.0	4.0	3055	$7,635	$2.50	25d	1	1.15mi
6318 Grand Blvd Houston, TX	3.0	3.5	2325	$2,999	$1.29	5d	1	1.16mi
4135 DuPont St Houston, TX	3.0	4.0	2395	$2,499	$1.04	45d	1	1.16mi
1910 Oakdale St Unit A Houston, TX	3.0	3.5	2452	$3,890	$1.59	13d	1	1.16mi
5933 Almeda Rd Unit 2-1405 Houston, TX	4.0	4.0	3055	$7,442	$2.44	45d	1	1.19mi
1818 Prospect St Houston, TX	3.0	2.0	2923	$3,400	$1.16	5d	1	1.21mi
3405 St Emanuel St Houston, TX	4.0	5.0	2388	$2,900	$1.21	45d	1	1.26mi
3518 Dennis St Unit 1387517P Houston, TX	4.0	4.0	2271	$5,657	$2.49	0d	1	1.30mi
3213 Saint Emanuel St Houston, TX	4.0	3.5	2100	$3,300	$1.57	18d	1	1.31mi
4908 Crawford St Houston, TX	3.0	2.0	2526	$3,250	$1.29	45d	1	1.36mi
4606 Austin St Houston, TX	3.0	3.5	2950	$3,000	$1.02	45d	1	1.48mi

Listing history 16 events

1. 2026-06-21
   days on market $374,500 Active 191 DOM
2. 2026-06-18
   days on market $374,500 Active 188 DOM
3. 2026-06-17
   days on market $374,500 Active 187 DOM
4. 2026-06-16
   days on market $374,500 Active 186 DOM
5. 2026-06-15
   days on market $374,500 Active 185 DOM
6. 2026-06-13
   days on market $374,500 Active 183 DOM
7. 2026-06-10
   days on market $374,500 Active 179 DOM
8. 2026-06-08
   days on market $374,500 Active 178 DOM
9. 2026-06-07
   days on market $374,500 Active 177 DOM
10. 2026-06-04
    days on market $374,500 Active 174 DOM
11. 2026-06-01
    days on market $374,500 Active 171 DOM
12. 2026-05-31
    days on market $374,500 Active 170 DOM
13. 2026-04-15
    price $374,500 890-char remark

    Show marketing remark (890 chars)

    This impressive duplex features three well-appointed bedrooms on the lower level, complete with modern upgrades including central air conditioning, heating, and new windows. The upper unit boasts two bedrooms and a sunroom, offering potential to enhance its value, although it currently has three window AC units that need updating. Situated on a generous lot, this property is strategically located near downtown, the University of Houston, and Texas Southern University. It's also in proximity to the Museum District, the Medical Center, and Midtown, with excellent access to public transportation. This property represents a strong investment opportunity in an area that is on the rise, making it a prime candidate for Airbnb rentals. Additionally, the seller is actively addressing foundation repairs for the pier-and-beam system, ensuring the structure's integrity for years to come.

14. 2026-02-12
    price $399,000 890-char remark

    Show marketing remark (890 chars)

    This impressive duplex features three well-appointed bedrooms on the lower level, complete with modern upgrades including central air conditioning, heating, and new windows. The upper unit boasts two bedrooms and a sunroom, offering potential to enhance its value, although it currently has three window AC units that need updating. Situated on a generous lot, this property is strategically located near downtown, the University of Houston, and Texas Southern University. It's also in proximity to the Museum District, the Medical Center, and Midtown, with excellent access to public transportation. This property represents a strong investment opportunity in an area that is on the rise, making it a prime candidate for Airbnb rentals. Additionally, the seller is actively addressing foundation repairs for the pier-and-beam system, ensuring the structure's integrity for years to come.

15. 2025-12-12
    listed $425,000 Active 890-char remark

    Show marketing remark (890 chars)

    This impressive duplex features three well-appointed bedrooms on the lower level, complete with modern upgrades including central air conditioning, heating, and new windows. The upper unit boasts two bedrooms and a sunroom, offering potential to enhance its value, although it currently has three window AC units that need updating. Situated on a generous lot, this property is strategically located near downtown, the University of Houston, and Texas Southern University. It's also in proximity to the Museum District, the Medical Center, and Midtown, with excellent access to public transportation. This property represents a strong investment opportunity in an area that is on the rise, making it a prime candidate for Airbnb rentals. Additionally, the seller is actively addressing foundation repairs for the pier-and-beam system, ensuring the structure's integrity for years to come.

16. 1988-01-01
    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: $6,994 · $583/mo
• Projected year-2 tax: $6,994 · $583/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 · 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: $53,544
• − Mortgage interest: −$20,978
• − Property taxes: −$6,994
• − Insurance: −$1,872
• − Repairs & maintenance: −$4,284
• − Management: −$4,284
• − Depreciation: −$10,895
• Taxable income: $4,238
• Est. tax owed @ 24.0%: −$1,017
• After-tax cash flow: $8,849/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

-11.9% since first listed

4 events — show timeline

• 2026-04-15 Price Changed $374,500 HARMLS
• 2026-02-12 Price Changed $399,000 HARMLS
• 2025-12-12 Listed $425,000 HARMLS
• 1988-01-01 Sold (Public Records) — Public Records

Property tax history

+3.6%/yr

Latest (2025): $6,994 · +1.5% YoY. Source: county tax records.