1061 - 1059 South Ln Unit A/B A/B · Houston, TX 77088

$199,800

None bd · None ba · 4,934 sqft · MultiFamily · 14 Days on market

Poor condition 7,200 sqft lot

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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 +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.2/5.0
• Condition / age +1.0/5.0
• 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

BEAUTIFUL LOT for a Beautiful Fourplex (lot only) PRICE INCLUDES ALL PLANS AND PERMITS CITY-APPROVED READY TO GO, BE YOUR OWN BUILDER, KEEP THE EQUITY, one unit to live in and 3 for rental income, or expand your investments with 4 rental incomes. Great for savvy or beginner investor. Two units 1st floor, Two Units 2nd floor, Building cost estimate available SAVE TIME AND MONEY! buy it today and break ground tomorrow! bring your builder or a preferred builder is ready to go, architecturally design to maximize space and minimize building cost. Many new builds in the area, this area has much potential. Envision the possibilities and investment potential. Lot value with all plans and permits in

Key facts

• Lot 60x120
• City approved
• 7,200 sq ft lot

Tags

• CITY APPROVED
• ALL PLANS AND PERMITS
• BUILDING COST ESTIMATE
• LOT IS CLEAR AND CLEAN
• LOT 60X120

Property features AI

Finance

• Financial info: Property configured as a 4-unit income property

Exterior

• Utilities: Cable available; Electricity available; Water available
• Home design: Residential income property; Total building area approximately 4,934
• Construction: Shingle roof; Wood elements in roof construction
• Exterior features: Cleared lot; Lot dimensions approximately 60 x 120

Interior

• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Satellite dish

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/2.0-bath units multifamily listed at $200k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $4k ($51k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $200k).
• Cap rate 31.8% 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.
• 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.
• Zoned schools: Williams Middle (math 9% / reading 15%, grade F, #1,623 of 1,662 statewide, top 98%, 411 students, 98% FRL); Washington B T H S (math 27% / reading 25%, grade F, #1,234 of 1,632 statewide, top 76%, 878 students, 96% FRL) — zoned schools average 97% FRL vs 71% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 19% at this address vs 31% district-wide (-12 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.0%/yr); 468 active listings in the ZIP; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $7,127/mo this rent would consume 157% of the median local household income ($54k/yr) (locally 2294% 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 $1k of loan paydown is wiped out by about $6k 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 $56k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

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 $199,800

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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 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: 3.57% ✓
• Cap rate: 31.82%
• Cash-on-cash: 91.15%
• DSCR: 5.06
• GRM: 2.3

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: 88.5%
• Equity multiple: 4.89×
• Total profit: $217,501
• Equity at exit: $29,791

10-year hold

• IRR: 90.8%
• Equity multiple: 9.18×
• Total profit: $457,629
• Equity at exit: $17,275

Cash invested: $55,944 (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 77088

• Home prices YoY: -23.2%
• Rents YoY: -1.0%
• Active inventory: 468
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $7,127 high
• Mortgage (P&I): −$1,048
• Tax est. 1.5%: −$250 /mo · $2,997/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,497
• Net cashflow: $4,250

Break-even live

Break-even rent $1,748

Max offer price $199,800

Occupancy floor 35%

Sensitivity live

Price	-10% $4,388	-5% $4,319	+0% $4,250	+5% $4,181	+10% $4,111
Rent	-10% $3,687	-5% $3,968	+0% $4,250	+5% $4,531	+10% $4,813
Rate	-1.0pp $4,350	-0.5pp $4,300	base $4,250	+0.5pp $4,198	+1.0pp $4,145

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	2	$7,128
Total (4 units)			$7,127

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: $49,950
• Closing costs: $5,994
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $199,800 Active 14 DOM
2. 2026-06-17
   days on market $199,800 Active 13 DOM
3. 2026-06-16
   days on market $199,800 Active 12 DOM
4. 2026-06-15
   days on market $199,800 Active 11 DOM
5. 2026-06-13
   days on market $199,800 Active 9 DOM
6. 2026-06-09
   days on market $199,800 Active 5 DOM
7. 2026-06-08
   days on market $199,800 Active 4 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   listed $199,800 Active 3 DOM

ⓘ 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 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $85,524
• − Mortgage interest: −$11,192
• − Property taxes: −$2,997
• − Insurance: −$999
• − Repairs & maintenance: −$6,842
• − Management: −$6,842
• − Depreciation: −$5,812
• Taxable income: $50,840
• Est. tax owed @ 24.0%: −$12,202
• After-tax cash flow: $38,793/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 · 2 photos

Poor 20/100 Extensive rehab

This multi-family property requires extensive repairs and updates to its roof, exterior, flooring, interior walls, windows, HVAC, and landscaping. Significant investment is needed to bring the property up to a livable and marketable condition.

Repairs flagged

• Major roof — No visible roof in the satellite image.
• Major exterior — No visible exterior in the satellite image.
• Major flooring — No visible flooring in the satellite image.
• Major interior walls/paint — No visible interior walls or paint in the satellite image.
• Major windows — No visible windows in the satellite image.
• Major foundation/structure — No visible foundation or structure in the satellite image.
• Major HVAC/mechanicals — No visible HVAC or mechanicals in the satellite image.
• Major landscaping/curb appeal — No visible landscaping or curb appeal in the satellite image.

Value-add opportunities

• Both roof replacement — A new roof would significantly improve the home's appearance and functionality.
• Both exterior painting and siding repair — A fresh coat of paint and repair of siding would enhance curb appeal and value.
• Both flooring replacement — New flooring would improve the home's aesthetic and functionality.
• Both interior painting and repairs — Fresh paint and repairs to interior walls would improve the home's appearance and value.
• Both window replacement — New windows would improve energy efficiency and curb appeal.
• Both HVAC system upgrade — An upgraded HVAC system would improve comfort and energy efficiency.
• Both landscaping and curb appeal improvements — Landscaping and curb appeal improvements would enhance the home's overall appearance and value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · No visible roof in the satellite image.	Major	$15,000–50,000
exterior · No visible exterior in the satellite image.	Major	$15,000–50,000
flooring · No visible flooring in the satellite image.	Major	$15,000–50,000
interior walls/paint · No visible interior walls or paint in the satellite image.	Major	$15,000–50,000
windows · No visible windows in the satellite image.	Major	$15,000–50,000
foundation/structure · No visible foundation or structure in the satellite image.	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC or mechanicals in the satellite image.	Major	$15,000–50,000
landscaping/curb appeal · No visible landscaping or curb appeal in the satellite image.	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Both roof replacement — A new roof would significantly improve the home's appearance and functionality. ↑
• Both exterior painting and siding repair — A fresh coat of paint and repair of siding would enhance curb appeal and value. ↑
• Both flooring replacement — New flooring would improve the home's aesthetic and functionality. ↑
• Both interior painting and repairs — Fresh paint and repairs to interior walls would improve the home's appearance and value. ↑
• Both window replacement — New windows would improve energy efficiency and curb appeal. ↑
• Both HVAC system upgrade — An upgraded HVAC system would improve comfort and energy efficiency. ↑
• Both landscaping and curb appeal improvements — Landscaping and curb appeal improvements would enhance the home's overall appearance and value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 57,047
• Household income: $54,411
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 2294.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 52% Black 37% Two or more races 18% White 6% Asian 4%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Lithuanian 1%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 49% English-only · Spanish 47% Vietnamese 3%

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: ▼ -98.37%
• Current HPI: 325.0499
• Rent YoY: ▼ -1.01%
• 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

1 event — show timeline

• 2026-06-04 Listed $199,800 HARMLS