7954 Booker St · Houston, TX 77028

$140,000

3 bd · 2.0 ba · 1,584 sqft · SingleFamily public records · 83 Days on market

Built 1975 8,581 sqft lot $88/sqft · 39% below area Est $230k · 39% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Appreciation +7.6/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0

Listing remarks MLS

Property being sold at lot value only. no sd required. Existing structure has no contributory value. Great opportunity for redevelopment/new construction. Please contact co-listing agent for any questions.

Key facts

• 8,581 sq ft lot
• Built 1975
• Listed 83 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $548 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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: 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 (-1.6%/yr); 353 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $2,016/mo this rent would consume 63% of the median local household income ($38k/yr) (locally 1177% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $8k of equity ($968 loan paydown + $7k appreciation (5.2% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.2% appreciation + 0.0% rent growth), your $39k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y 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

• 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 $131,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.44% ✓
• Cap rate: 10.99%
• Cash-on-cash: 16.77%
• DSCR: 1.75
• GRM: 5.8

CMA / ARV

• ARV (median comp): $230,229
• List price: $140,000
• Delta: -39.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7986 Angus St	0.36mi	3/2.0	1,466 (-7%)	0mo	$235,000	$160	71
5803 Haight St Unit A	0.52mi	3/2.5	1,627 (+3%)	0mo	$282,000	$173	69
5803 Haight St Unit B	0.52mi	3/2.5	1,627 (+3%)	1mo	$274,000	$168	69
7941 Attwater St	0.48mi	3/2.5	1,614 (+2%)	5mo	$235,000	$146	68
7963 Miley St	0.55mi	3/2.0	1,550 (-2%)	4mo	$285,000	$184	68
5915 Haight St	0.61mi	3/2.5	1,627 (+3%)	2mo	$282,000	$173	63
7714 N Howton St	0.69mi	3/2.0	1,615 (+2%)	4mo	$270,000	$167	61
5505 Bacher St	0.32mi	4/2.5 (+1)	1,726 (+9%)	6mo	$265,000	$154	58
6109 Haight St	0.75mi	3/2.5	1,627 (+3%)	5mo	$282,000	$173	54
7819 Angus St	0.42mi	3/2.5	1,791 (+13%)	3mo	$284,900	$159	54
5907 Wedgefield St	0.69mi	3/2.0	1,428 (-10%)	3mo	$229,500	$161	49
8114 Jeffery St	0.60mi	3/2.5	1,784 (+13%)	4mo	$275,000	$154	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.25% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 26.0%
• Equity multiple: 2.61×
• Total profit: $63,294
• Equity at exit: $81,428

10-year hold

• IRR: 23.4%
• Equity multiple: 4.84×
• Total profit: $150,337
• Equity at exit: $142,294

Cash invested: $39,200 (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 77028

• Home prices YoY: 2.0%
• Rents YoY: -1.6%
• Active inventory: 353
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $2,016 high
• Mortgage (P&I): −$734
• Tax from tax record: −$253 /mo · $3,032/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $548

Break-even live

Break-even rent $1,323

Max offer price $140,000

Occupancy floor 68%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7956 Bonaire St Unit B Houston, TX	3.0	2.5	1498	$2,150	$1.44	44d	1	0.13mi
7956 Bonaire St Unit A Houston, TX	3.0	2.5	1498	$2,100	$1.40	44d	1	0.13mi
5415 Bacher St Unit A Houston, TX	3.0	2.5	1540	$2,350	$1.53	44d	1	0.28mi
5415 Bacher St Unit A Houston, TX	3.0	2.5	1540	$2,350	$1.53	24d	1	0.28mi
8161 Tate St Houston, TX	3.0	3.0	2184	$1,850	$0.85	44d	1	0.32mi
7839 Sandy St Houston, TX	3.0	2.0	1300	$1,595	$1.23	5d	1	0.40mi
5426 E Houston Rd Unit A Houston, TX	3.0	2.5	1608	$1,695	$1.05	15d	1	0.77mi
8117 Saint Louis St Houston, TX	3.0	2.0	1090	$1,335	$1.22	22d	1	0.78mi
8119 Saint Louis St Houston, TX	3.0	2.0	1090	$1,349	$1.24	44d	1	0.78mi
8135 Chateau St Houston, TX	3.0	3.0	1610	$1,645	$1.02	11d	1	0.84mi
8158 Sunbury St Houston, TX	3.0	2.5	1300	$1,525	$1.17	24d	1	0.91mi
7426 Miley St Houston, TX	4.0	2.0	2095	$1,650	$0.79	24d	1	0.92mi
7966 Henson St Unit B Houston, TX	3.0	2.0	1608	$1,410	$0.88	44d	1	0.97mi
7947 Henson St Houston, TX	3.0	2.0	1090	$1,349	$1.24	5d	1	1.00mi
7945 Henson St Houston, TX	3.0	2.0	1300	$1,699	$1.31	5d	1	1.00mi
7830 Nashville St Houston, TX	3.0	2.0	1175	$1,800	$1.53	8d	1	1.04mi
7973 Ritz St Houston, TX	3.0	2.0	1076	$2,250	$2.09	8d	1	1.21mi

Listing history 19 events

1. 2026-06-18
   days on market $140,000 Active 83 DOM
2. 2026-06-17
   days on market $140,000 Active 82 DOM
3. 2026-06-16
   days on market $140,000 Active 81 DOM
4. 2026-06-15
   days on market $140,000 Active 80 DOM
5. 2026-06-13
   days on market $140,000 Active 78 DOM
6. 2026-06-10
   days on market $140,000 Active 74 DOM
7. 2026-06-08
   days on market $140,000 Active 73 DOM
8. 2026-06-07
   days on market $140,000 Active 72 DOM
9. 2026-06-04
   days on market $140,000 Active 69 DOM
10. 2026-06-01
    days on market $140,000 Active 66 DOM
11. 2026-05-31
    days on market $140,000 Active 65 DOM
12. 2026-03-27
    listed $140,000 Active 205-char remark

    Show marketing remark (205 chars)

    Property being sold at lot value only. no sd required. Existing structure has no contributory value. Great opportunity for redevelopment/new construction. Please contact co-listing agent for any questions.

13. 2007-05-04
    soldstatus
14. 2007-05-04
    soldstatus
15. 2002-12-24
    historical
16. 2002-06-15
    listed $75,000
17. 2002-05-05
    historical
18. 2001-11-05
    listed $75,000
19. 1988-03-21
    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: $3,032 · $253/mo
• Projected year-2 tax: $3,032 · $253/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,197
• − Mortgage interest: −$7,842
• − Property taxes: −$3,032
• − Insurance: −$700
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − Depreciation: −$4,073
• Taxable income: $4,679
• Est. tax owed @ 24.0%: −$1,123
• After-tax cash flow: $5,451/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): 19,109
• Household income: $38,357
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1177.0

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: Majority Black (57%)
• Race & ethnicity: Black 57% Hispanic / Latino 41% Two or more races 15% White 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 13% · Canada
• Languages at home: 61% English-only · Spanish 38%

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: ▲ 5.25%
• Current HPI: 267.7798
• Rent YoY: ▼ -1.55%
• 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

+86.7% since first listed

8 events — show timeline

• 2026-03-27 Listed $140,000 HARMLS
• 2007-05-04 Sold (Public Records) — Public Records
• 2007-05-04 Sold (Public Records) — Public Records
• 2002-12-24 Listing Removed — HARMLS
• 2002-06-15 Listed $75,000 HARMLS
• 2002-05-05 Listing Removed — HARMLS
• 2001-11-05 Listed $75,000 HARMLS
• 1988-03-21 Sold (Public Records) — Public Records

Property tax history

+0.3%/yr

Latest (2025): $3,032 · +11.7% YoY. Source: county tax records.