328 Malone St · Houston, TX 77007

$489,000

3 bd · 3.5 ba · 2,338 sqft · Townhouse public records · 85 Days on market

Built 2003 1,406 sqft lot $209/sqft · at area comps Est $496k · at est.

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Why this score? — see what drove the D- 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 +12.6/30.0
• ARV discount +8.2/15.0
• 1% rule +4.0/10.0
• DSCR +3.7/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience the epitome of urban living in this charming single-family residence nestled in the vibrant heart of Rice Military, mere blocks away from the lush expanse of Memorial Park. Situated within walking distance of the lively Washington Ave, this home is perfectly tailored to those who lead an active lifestyle, with countless restaurants and nightlife destinations just minutes away. Step inside and be greeted by an exceptional open floor plan that offers both style and functionality. This thoughtfully designed home features 3 bedrooms, with a Master Suite that boasts his and her closets, a spacious Whirlpool tub, and a separate shower. As you enjoy your morning coffee, the breakfast room's balcony provides a picturesque view of the neighborhood's vibrant surroundings. This property is an opportunity to embrace city living at its finest. Don't miss your chance to see it for yourself – schedule a viewing today!

Key facts

• Open floor plan
• 1,406 sq ft lot
• 2 garage spots

Tags

• OPEN FLOOR PLAN
• BREAKFAST ROOM BALCONY

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath townhouse listed at $489k.

Deal economics

• At list price, monthly cash flow is $-67 ($-799/yr) — negative.
• To cash-flow at today's rent, offer at most $477k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $440k (10.1% below list).
• Recommended offer: $440k (10.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% 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.
• 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 (-0.8%/yr); 646 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 36% of the median local income ($145k/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 $3k of loan paydown is wiped out by about $15k 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 85 days — a 6% lower offer ($460k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 14y ago; this cycle's ask is 15181% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• 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 $439,671 (10.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 85 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.90% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.58%
• DSCR: 0.97
• GRM: 9.3

CMA / ARV

• ARV (median comp): $496,324
• List price: $489,000
• Delta: -1.48%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5618 Lacy St	0.09mi	3/3.5	2,400 (+3%)	1mo	$609,000	$254	91
5208 Blossom St #5	0.33mi	3/3.5	2,340 (+0%)	0mo	$435,000	$186	84
409 Detering St	0.16mi	3/3.5	2,462 (+5%)	1mo	$494,000	$201	83
5811 Rose St	0.23mi	3/2.5	2,477 (+6%)	0mo	$735,000	$297	75
910 Malone St #104	0.29mi	2/2.5 (-1)	2,312 (-1%)	1mo	$499,900	$216	75
1361 Moy St	0.61mi	3/3.5	2,275 (-3%)	1mo	$450,000	$198	66
408 Parker St	0.67mi	3/3.5	2,197 (-6%)	0mo	$415,000	$189	58
6302 Prague St	0.73mi	3/3.5	2,205 (-6%)	1mo	$749,999	$340	56
6227 Haskell St	0.53mi	2/2.5 (-1)	2,488 (+6%)	0mo	$749,000	$301	55
6501 Rodrigo St	0.72mi	3/3.5	2,569 (+10%)	1mo	$840,000	$327	49
918 Cohn St	0.35mi	2/2.0 (-1)	2,022 (-14%)	1mo	$420,000	$208	49
5003 Blossom St	0.46mi	2/2.0 (-1)	2,002 (-14%)	1mo	$399,000	$199	42

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: -20.8%
• Equity multiple: 0.30×
• Total profit: $-96,202
• Equity at exit: $72,911

10-year hold

• IRR: -23.5%
• Equity multiple: -0.01×
• Total profit: $-138,359
• Equity at exit: $42,280

Cash invested: $136,920 (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 77007

• Rents YoY: -0.8%
• Active inventory: 646
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $4,397 high
• Mortgage (P&I): −$2,564
• Tax from tax record: −$772 /mo · $9,263/yr
• Insurance: −$204
• HOA: −$0
• Vacancy / Maint / Mgmt: −$923
• Net cashflow: $-67

Break-even live

Break-even rent $4,481

Max offer price $477,232

Occupancy floor 97%

Sensitivity live

Price	-10% $210	-5% $72	+0% $-67	+5% $-205	+10% $-343
Rent	-10% $-414	-5% $-240	+0% $-67	+5% $107	+10% $281
Rate	-1.0pp $180	-0.5pp $58	base $-67	+0.5pp $-193	+1.0pp $-322

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: $122,250
• Closing costs: $14,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
920 Westcott St Houston, TX	1.0–2.0	1.0–2.0	1175	$3,306	$2.81	0d	25	0.37mi
929 Westcott St Houston, TX	1.0–3.0	1.0–3.0	1375	$9,263	$6.74	0d	21	0.39mi
5201 Memorial Dr Houston, TX	1.0–2.0	1.0–2.5	1071	$3,361	$3.14	0d	17	0.41mi
5237 Center St Houston, TX	3.0	3.0	2284	$2,995	$1.31	44d	1	0.42mi
5305 Nett St Unit A Houston, TX	3.0	3.5	2104	$2,950	$1.40	25d	1	0.43mi
5610 Schuler St Houston, TX	3.0	3.5	2614	$3,111	$1.19	6d	1	0.46mi
5811 Maxie St Houston, TX	3.0	3.5	2226	$3,000	$1.35	44d	1	0.55mi
4608 Nett St Houston, TX	3.0	4.0	2261	$3,750	$1.66	44d	1	0.79mi
4917 Nolda St Houston, TX	3.0	3.5	1764	$5,000	$2.83	25d	1	0.83mi
2103 Radcliffe St Unit 1225772P Houston, TX	3.0	2.0	1797	$4,729	$2.63	8d	1	0.87mi
4444 Center St Houston, TX	3.0	3.0	2121	$3,200	$1.51	44d	1	0.88mi
707 Marston St Unit 510 Houston, TX	3.0	2.0	2310	$12,520	$5.42	0d	1	0.91mi
4307 Feagan St Unit A Houston, TX	3.0	4.0	2412	$3,590	$1.49	0d	1	0.92mi
913 Thompson St #913 Houston, TX	4.0	3.5	3200	$8,500	$2.66	25d	1	0.93mi
915 Thompson St Unit 915 Houston, TX	4.0	3.5	3200	$8,500	$2.66	25d	1	0.93mi
2210 Radcliffe St Houston, TX	3.0	3.5	2066	$2,716	$1.31	8d	1	0.93mi
911 Thompson St #911 Houston, TX	4.0	3.5	3200	$8,500	$2.66	25d	1	0.93mi
917 Thompson St Unit 917 Houston, TX	4.0	3.5	3200	$8,000	$2.50	25d	1	0.94mi
4508 Maxie St Unit B Houston, TX	3.0	1.0	1700	$3,003	$1.77	15d	1	0.94mi
5336 Darling St Unit 1225767P Houston, TX	3.0	3.0	2292	$5,997	$2.62	0d	1	0.97mi
5108 Larkin St Houston, TX	3.0	3.5	2108	$2,850	$1.35	45d	1	0.99mi
4510 Inker St Houston, TX	4.0	4.0	2293	$4,500	$1.96	44d	1	1.01mi
1027 Gross St Houston, TX	4.0	3.5	3035	$5,800	$1.91	44d	1	1.01mi
5235 Petty St Unit B Houston, TX	3.0	2.5	2532	$3,000	$1.18	44d	1	1.02mi
5620 Petty St Houston, TX	4.0	3.5	2891	$8,750	$3.03	44d	1	1.04mi
5620 Petty St Unit 1019538P Houston, TX	4.0	3.5	2884	$16,259	$5.64	22d	1	1.04mi
5732 Darling St Unit 1056419P Houston, TX	3.0	3.5	2400	$7,771	$3.24	44d	1	1.05mi
1221 Bonner St Houston, TX	3.0	3.5	2252	$3,200	$1.42	44d	1	1.05mi
1201 McDuffie St Houston, TX	2.0	2.5	1600	$2,800	$1.75	17d	2	1.06mi
4311 Marina St Houston, TX	3.0	4.0	2328	$3,599	$1.55	44d	1	1.08mi
5530 Kiam St Houston, TX	4.0	2.5	2688	$9,750	$3.63	44d	1	1.08mi
5530 Kiam St Unit 1019540P Houston, TX	4.0	2.5	2680	$15,799	$5.90	44d	1	1.08mi
5427 Kansas St Houston, TX	3.0	4.0	2156	$2,700	$1.25	44d	1	1.08mi
543 T C Jester Blvd Unit 1225766P Houston, TX	3.0	3.5	2389	$5,557	$2.33	0d	1	1.09mi
1958 W Gray St Unit 3165 Houston, TX	3.0	2.0	3206	$15,056	$4.70	0d	1	1.12mi
1958 W Gray St Unit 1991 Houston, TX	3.0	2.0	3206	$15,050	$4.69	11d	1	1.12mi
3333 Allen Pkwy Unit 1000 Houston, TX	2.0	2.5	1860	$4,500	$2.42	44d	1	1.17mi
1951 W Bell St Houston, TX	3.0	2.0	1800	$2,400	$1.33	15d	1	1.23mi
1951 W Bell St Houston, TX	3.0	2.0	1800	$2,400	$1.33	44d	1	1.23mi
716 Waugh Dr Houston, TX	1.0–3.0	1.0–2.5	1130	$4,080	$3.61	0d	24	1.34mi

Listing history 36 events

1. 2026-06-04
   days on market $489,000 Active 85 DOM
2. 2026-06-01
   days on market $489,000 Active 82 DOM
3. 2026-05-31
   days on market $489,000 Active 81 DOM
4. 2026-04-01
   historical $3,200
5. 2026-03-30
   listed $3,200
6. 2026-03-14
   listed $3,200
7. 2026-03-11
   listed $489,000 Active 935-char remark

   Show marketing remark (935 chars)

   Experience the epitome of urban living in this charming single-family residence nestled in the vibrant heart of Rice Military, mere blocks away from the lush expanse of Memorial Park. Situated within walking distance of the lively Washington Ave, this home is perfectly tailored to those who lead an active lifestyle, with countless restaurants and nightlife destinations just minutes away. Step inside and be greeted by an exceptional open floor plan that offers both style and functionality. This thoughtfully designed home features 3 bedrooms, with a Master Suite that boasts his and her closets, a spacious Whirlpool tub, and a separate shower. As you enjoy your morning coffee, the breakfast room's balcony provides a picturesque view of the neighborhood's vibrant surroundings. This property is an opportunity to embrace city living at its finest. Don't miss your chance to see it for yourself – schedule a viewing today!

8. 2026-01-09
   historical $3,200
9. 2026-01-08
   listed $3,200
10. 2026-01-07
    historical $3,200
11. 2026-01-01
    historical $3,200
12. 2025-11-21
    listed $3,200
13. 2025-11-19
    listed $3,200
14. 2025-11-18
    historical $3,300
15. 2025-11-17
    historical
16. 2025-07-08
    listed $3,300
17. 2025-06-30
    historical $3,300
18. 2025-06-11
    listed $488,000 Active
19. 2025-06-05
    listed $3,300
20. 2024-02-16
    historical $3,000
21. 2024-01-09
    price $3,000
22. 2023-11-14
    listed $3,300
23. 2023-10-13
    soldstatus
24. 2023-10-10
    soldstatus Sold
25. 2023-09-20
    status Pending
26. 2023-09-12
    status Option Pending
27. 2023-09-02
    listed $465,000 Active
28. 2023-09-02
    historical
29. 2023-09-02
    listed $465,000 Active
30. 2023-09-02
    historical
31. 2023-09-02
    listed $465,000 Active
32. 2012-08-06
    soldstatus
33. 2012-07-31
    soldstatus
34. 2012-06-16
    historical
35. 2012-02-07
    listed $329,900
36. 2007-07-16
    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: $9,263 · $772/mo
• Projected year-2 tax: $9,263 · $772/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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $52,761
• − Mortgage interest: −$27,392
• − Property taxes: −$9,263
• − Insurance: −$2,445
• − Repairs & maintenance: −$4,221
• − Management: −$4,221
• − Depreciation: −$14,225
• Taxable loss: −$9,006
• Est. tax savings @ 24.0%: +$2,161
• After-tax cash flow: $1,362/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): 47,808
• Household income: $144,911
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 1812.0

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 0.63)
• Race & ethnicity: White 57% Hispanic / Latino 17% Two or more races 13% Asian 11% Black 9%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 3% Romanian 3% Italian 3%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 12% Other Indo-European 4% Chinese 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: ▼ -219.42%
• Current HPI: 159.8157
• Rent YoY: ▼ -0.83%
• 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

-99.0% since first listed

33 events — show timeline

• 2026-04-01 Rental Removed $3,200 SHOWMOJO
• 2026-03-30 Listed for Rent $3,200 HARMLS
• 2026-03-14 Listed for Rent $3,200 SHOWMOJO
• 2026-03-11 Listed $489,000 HARMLS
• 2026-01-09 Rental Removed $3,200 HARMLS
• 2026-01-08 Listed for Rent $3,200 HARMLS
• 2026-01-07 Rental Removed $3,200 HARMLS
• 2026-01-01 Rental Removed $3,200 SHOWMOJO
• 2025-11-21 Listed for Rent $3,200 SHOWMOJO
• 2025-11-19 Listed for Rent $3,200 HARMLS
• 2025-11-18 Rental Removed $3,300 HARMLS
• 2025-11-17 Listing Removed — HARMLS
• 2025-07-08 Listed for Rent $3,300 HARMLS
• 2025-06-30 Rental Removed $3,300 HARMLS
• 2025-06-11 Listed $488,000 HARMLS
• 2025-06-05 Listed for Rent $3,300 HARMLS
• 2024-02-16 Rental Removed $3,000 HARMLS
• 2024-01-09 Price Changed $3,000 HARMLS
• 2023-11-14 Listed for Rent $3,300 HARMLS
• 2023-10-13 Sold (Public Records) — Public Records
• 2023-10-10 Sold (MLS) — HARMLS
• 2023-09-20 Pending — HARMLS
• 2023-09-12 Pending — HARMLS
• 2023-09-02 Listed $465,000 HARMLS
• 2023-09-02 Listing Removed — HARMLS
• 2023-09-02 Listed $465,000 HARMLS
• 2023-09-02 Listing Removed — HARMLS
• 2023-09-02 Listed $465,000 HARMLS
• 2012-08-06 Sold (Public Records) — Public Records
• 2012-07-31 Sold (MLS) — HARMLS
• 2012-06-16 Listing Removed — HARMLS
• 2012-02-07 Listed $329,900 HARMLS
• 2007-07-16 Sold (Public Records) — Public Records

Property tax history

+4.1%/yr

Latest (2025): $9,263 · -2.7% YoY. Source: county tax records.