21155 Gosling Rd #37 · Houston, TX 77388

$709,900

12 bd · 10.0 ba · 6,604 sqft · MultiFamily · 80 Days on market

Built 2019 Excellent condition 2,700 sqft lot Garage $107/sqft · 16% below area Est $850k · 16% under $1600/mo HOA · 85% of rent

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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).

• ARV discount +14.9/15.0
• Cash flow +8.8/30.0
• 1% rule +5.5/10.0
• Schools +4.8/10.0
• Condition / age +4.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• DSCR +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

INVESTER SPECIAL! Back on the market. Appraisal done recently to show value. Multi-family 4 plex. .. each of the 4 units features 3 bedrooms, 2.5 bathrooms, 1 car attached garage, 1 car parking pad, including two master suites in each unit. Located right across the street from H. E. B. on the corner of 2920 and Gosling Road. This unit has been upgraded to include granite countertops in the kitchen/bathrooms, LVT flooring, ceiling fans, canned lighting throughout the unit, and stainless steel appliances. This project is located within a high growth area and zoned to great Klein ISD schools which should make for an easy lease up.

Key facts

• Multi family 4 plex
• Ceiling fans
• Granite countertops

Tags

• MULTI FAMILY 4 PLEX
• GRANITE COUNTERTOPS
• LVT FLOORING
• CEILING FANS
• CANNED LIGHTING
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 4 × 3.0-bed/2.5-bath units multifamily listed at $710k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-590 ($-7k/yr) — negative. Per door: $-148/mo.
• To cash-flow at today's rent, offer at most $624k (12.0% below list).
• Meets the 1% rule at list price ($7k rent vs $710k).
• Recommended offer: $624k (12.0% below list) — sets the bar for cash-flow.
• Cap rate 5.3% 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: crime F.
• Klein ISD (suburban): math 41% / reading 48% proficiency, ranked #213 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Mueller El (math 40% / reading 40%, grade F, #1,514 of 4,322 statewide, top 36%, 626 students, 45% FRL); Krimmel Intermed (math 51% / reading 52%, grade C, #318 of 1,662 statewide, top 20%, 1,294 students, 42% FRL); Klein H S (math 58% / reading 67%, grade B-, #234 of 1,632 statewide, top 14%, 3,352 students, 45% FRL).
• Market conditions: 466 active listings in the ZIP; solid renter incomes; 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 $5k of loan paydown is wiped out by about $21k 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 80 days — a 6% lower offer ($667k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y 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: HOA is 21% of rent.
• 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 $624,462 (12.0% 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 80 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.05% ✓
• Cap rate: 5.29%
• Cash-on-cash: -3.56%
• DSCR: 0.84
• GRM: 7.9

CMA / ARV

• ARV (median comp): $849,973
• List price: $709,900
• Delta: -17.66%
• Verdict: UNDERPRICED
• Comps: 15 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21155 Gosling Rd Unit 23a-d	0.06mi	12/8.0	6,604 (0%)	21mo	$790,000	$120	71
21155 Gosling Rd Unit 6 A-D	0.10mi	12/8.0	6,752 (+2%)	18mo	$780,000	$116	69
21155 Gosling Rd Unit 25 A-D	0.10mi	12/2.0	6,604 (0%)	31mo	$750,000	$114	56
21155 Gosling Rd Unit 24 A-D	0.10mi	12/2.0	6,604 (0%)	32mo	$779,900	$118	56
21155 Gosling Rd Unit 42A-D	0.10mi	12/2.0	6,752 (+2%)	35mo	$835,000	$124	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -22.1%
• Equity multiple: 0.24×
• Total profit: $-151,543
• Equity at exit: $105,848

10-year hold

• IRR: -15.6%
• Equity multiple: 0.11×
• Total profit: $-175,931
• Equity at exit: $61,379

Cash invested: $198,772 (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 →

Active competition Active MLS

• For sale now: 3 active
• Median asking: $714,900 ($108/sqft)
• Median days on market: 121 d
• This list price: 33% of active listings are priced below it
• ARV vs active asking: +18.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77388

• Home prices YoY: -34.8%
• Active inventory: 466
• Price-to-rent: 31.6×

Monthly cashflow live

• Estimated rent: $7,488 high
• Mortgage (P&I): −$3,723
• Tax est. 1.5%: −$887 /mo · $10,648/yr
• Insurance: −$296
• HOA: −$1,600
• Vacancy / Maint / Mgmt: −$1,572
• Net cashflow: $-590

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	2.5	$7,488
Total (4 units)			$7,488

Break-even live

Break-even rent $8,235

Max offer price $624,462

Occupancy floor —

Sensitivity live

Price	-10% $-100	-5% $-345	+0% $-590	+5% $-836	+10% $-1,081
Rent	-10% $-1,182	-5% $-886	+0% $-590	+5% $-295	+10% $1
Rate	-1.0pp $-233	-0.5pp $-410	base $-590	+0.5pp $-774	+1.0pp $-962

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: $177,475
• Closing costs: $21,297
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21155 Gosling Rd Spring, TX	3.0	2.0–2.5	2700	$1,725	$0.64	52d	6	0.10mi
5907 Wrest Point Ct Spring, TX	4.0	2.5	2587	$5,500	$2.13	93d	1	0.38mi
5022 Camberleigh Ln Spring, TX	4.0	2.0	2079	$2,210	$1.06	4d	1	0.63mi
20935 Clovermeadow Spring, TX	4.0	2.5	2509	$2,221	$0.89	36d	1	0.72mi
21831 Catoosa Dr Spring, TX	4.0	2.5	2287	$2,100	$0.92	15d	1	0.76mi
6110 Wilcox Point Dr Spring, TX	3.0	2.5	2429	$2,245	$0.92	93d	1	0.83mi
21334 Bella Luna Ct Spring, TX	4.0	2.5	2562	$2,210	$0.86	60d	1	1.01mi
22418 Bridgestone Ridge Dr Spring, TX	4.0	3.5	2932	$2,395	$0.82	23d	1	1.05mi
22418 Bridgestone Ridge Dr Spring, TX	4.0	3.5	2932	$2,695	$0.92	73d	1	1.05mi
21415 Flower Valley Cir Spring, TX	4.0	2.5	3500	$2,395	$0.68	93d	1	1.05mi
6506 Rose Willow Ln Spring, TX	4.0	2.5	2540	$2,450	$0.96	16d	1	1.07mi
6535 Fairbrook Park Ln Spring, TX	4.0	2.5	2231	$2,250	$1.01	93d	1	1.08mi
6411 Sparrows Glen Ln Spring, TX	3.0	2.5	2390	$2,223	$0.93	93d	1	1.08mi
4614 Bridgestone Path Dr Spring, TX	4.0	2.5	2450	$2,325	$0.95	66d	1	1.10mi
6626 Winter Mountain Ln Spring, TX	3.0	2.5	2207	$2,146	$0.97	0d	1	1.17mi
4310 Stallion Brook Ln Spring, TX	4.0	2.0	2096	$2,175	$1.04	70d	1	1.27mi
21902 Blossom Grove Ln Spring, TX	4.0	2.0	1931	$2,400	$1.24	1d	1	1.43mi

Property features AI

Finance

• Other: Property listed as multi-unit with 4 total unitsTotal building area approximately 6,604 (unit count: 4)Lot area approximately 2,700 square feet
• HOA & community: Association managed by GOODWIN MANAGEMENT INCMonthly association fee of $1,600Association covers clubhouse, insurance, sewer, trash, and waterAssociation provides trash service

Exterior

• Parking: Garage with garage door opener
• Security: Security gateFire alarm
• Utilities: Electricity availableNatural gas availableWater available
• Home design: Residential income propertyBuilt in 2019
• Construction: Composition roof
• Exterior features: Security gateFire alarm

Interior

• Kitchen: DishwasherGarbage disposalMicrowave
• Bedrooms: Unit bedroom configuration includes 3-bedroom units
• Flooring: CarpetEngineered hardwood
• Bathrooms: Eight full bathrooms
• Heating & cooling: Central heating (gas)Central air conditioning (electric)Attic fan
• Interior features: Granite countersCeiling fansVentilation for improved indoor air quality

Listing history 32 events

1. 2026-06-28
   days on market $709,900 Active 80 DOM
2. 2026-06-27
   days on market $709,900 Active 79 DOM
3. 2026-06-26
   days on market $709,900 Active 78 DOM
4. 2026-06-24
   days on market $709,900 Active 76 DOM
5. 2026-06-22
   days on market $709,900 Active 74 DOM
6. 2026-06-21
   days on market $709,900 Active 73 DOM
7. 2026-06-18
   days on market $709,900 Active 70 DOM
8. 2026-06-17
   days on market $709,900 Active 69 DOM
9. 2026-06-16
   days on market $709,900 Active 68 DOM
10. 2026-06-15
    days on market $709,900 Active 67 DOM
11. 2026-06-13
    days on market $709,900 Active 65 DOM
12. 2026-06-09
    days on market $709,900 Active 61 DOM
13. 2026-06-08
    days on market $709,900 Active 60 DOM
14. 2026-06-07
    days on market $709,900 Active 59 DOM
15. 2026-06-04
    days on market $709,900 Active 56 DOM
16. 2026-06-03
    days on market $709,900 Active 55 DOM
17. 2026-06-02
    days on market $709,900 Active 54 DOM
18. 2026-06-01
    days on market $709,900 Active 53 DOM
19. 2026-05-31
    days on market $709,900 Active 52 DOM
20. 2026-04-09
    listed $709,900 Active 952-char remark
21. 2026-04-08
    historical
22. 2026-02-16
    status Active
23. 2026-02-06
    historical Active Under Contract
24. 2025-06-14
    listed $739,900 Active
25. 2025-05-31
    historical
26. 2025-01-31
    listed $725,000 Active
27. 2024-03-12
    historical
28. 2024-03-09
    listed $845,900 Active
29. 2020-12-30
    soldstatus Sold
30. 2020-12-24
    status Pending
31. 2020-12-16
    status Option Pending
32. 2020-11-28
    listed $730,000 Active

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $89,856
• − Mortgage interest: −$39,765
• − Property taxes: −$10,648
• − Insurance: −$3,550
• − Repairs & maintenance: −$7,188
• − Management: −$7,188
• − HOA: −$19,200
• − Depreciation: −$20,652
• Taxable loss: −$18,336
• Est. tax savings @ 24.0%: +$4,401
• After-tax cash flow: $-2,685/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.

Condition & rehab AI · 11 photos

Excellent 95/100 None rehab

This multi-family property is in excellent condition with no visible repairs needed. Upgrades in landscaping and interior painting would further enhance its value.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both Painting exterior and interior — Fresh paint can improve curb appeal and interior aesthetics ↑
• Both Upgrading window treatments — Enhances curb appeal and interior aesthetics ↑
• Both Adding smart home features — Improves convenience and adds value ↑
• Both Upgrading lighting fixtures — Enhances curb appeal and interior aesthetics ↑

F Composite school gradezoned avg 48/100

Zoned Schools

Elementary Mueller El F TX #1,514/4,322 Nat'l #19,354/41,679 Middle Krimmel Intermed C TX #318/1,662 Nat'l #3,192/14,009 High Klein Oak H S C- TX #428/1,632 Nat'l #4,818/17,239

Schools (NCES district)

• District: Klein ISD
• NCES district ID: 4825740
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $78,288
• Composite: 40.91/100
• National rank: #3615
• State rank: #213 of 826 in TX

B Composite livability gradescore 74/100

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 · 5,571,493 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 53,425
• Household income: $102,323
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.70)
• Race & ethnicity: White 45% Hispanic / Latino 25% Black 18% Two or more races 12% Asian 8%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 1%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 74% English-only · Spanish 18% Other Indo-European 2% Other Asian/Pacific 1%

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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: ▼ -121.68%
• Current HPI: 228.128
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

Property features AI

Finance

• Other: Property listed as multi-unit with 4 total unitsTotal building area approximately 6,604 (unit count: 4)Lot area approximately 2,700 square feet
• HOA & community: Association managed by GOODWIN MANAGEMENT INCMonthly association fee of $1,600Association covers clubhouse, insurance, sewer, trash, and waterAssociation provides trash service

Exterior

• Parking: Garage with garage door opener
• Security: Security gateFire alarm
• Utilities: Electricity availableNatural gas availableWater available
• Home design: Residential income propertyBuilt in 2019
• Construction: Composition roof
• Exterior features: Security gateFire alarm

Interior

• Kitchen: DishwasherGarbage disposalMicrowave
• Bedrooms: Unit bedroom configuration includes 3-bedroom units
• Flooring: CarpetEngineered hardwood
• Bathrooms: Eight full bathrooms
• Heating & cooling: Central heating (gas)Central air conditioning (electric)Attic fan
• Interior features: Granite countersCeiling fansVentilation for improved indoor air quality

Price history

+1.4% since first listed

12 events — show timeline

• 2026-04-08 Listing Removed — HARMLS
• 2026-02-16 Relisted — HARMLS
• 2026-02-06 Contingent — HARMLS
• 2025-06-14 Listed $739,900 HARMLS
• 2025-05-31 Listing Removed — HARMLS
• 2025-01-31 Listed $725,000 HARMLS
• 2024-03-12 Listing Removed — HARMLS
• 2024-03-09 Listed $845,900 HARMLS
• 2020-12-30 Sold (MLS) — HARMLS
• 2020-12-24 Pending — HARMLS
• 2020-12-16 Pending — HARMLS
• 2020-11-28 Listed $730,000 HARMLS