2324 Cedar Dr · La Marque, TX 77568

$425,000

20 bd · 4.0 ba · 2,842 sqft · MultiFamily public records · 65 Days on market

Built 1950 9,000 sqft lot $150/sqft · 40% above area Est $303k · 40% over

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Why this score? — see what drove the C+ 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
• Rent growth +3.5/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +0.0/15.0
• 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 MLS

If you are a first time investor or a seasoned investor this is an exceptional opportunity to own a well maintained fourplex. This income-producing property offers immediate returns with long-term growth potential.

Key facts

• 9,000 sq ft lot
• Built 1950
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 4 × 5-bed/1.0-bath units multifamily listed at $425k.

Deal economics

• At list price, monthly cash flow is $3k ($42k/yr) — positive. Per door: $870/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $425k).
• Recommended offer: $400k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.3% vs local median 5.6% in La Marque — 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 59/100 on livability (#1,136 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, schools F, crime F.
• Texas City ISD (suburban): math 28% / reading 29% proficiency, ranked #655 of 826 in TX (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+4.0%/yr); 654 active listings in the ZIP; 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).
• At $8,386/mo this rent would consume 135% of the median local household income ($75k/yr) (locally 700% 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 $13k of value loss. Plan a longer hold.
• Galveston County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $119k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 23y 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: flood insurance adds $66/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $399,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 F-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. 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.
11. 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.
12. 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: 1.97% ✓
• Cap rate: 16.31%
• Cash-on-cash: 35.78%
• DSCR: 2.59
• GRM: 4.2

CMA / ARV

• ARV (median comp): $303,170
• List price: $425,000
• Delta: 40.19%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.95% rent growth · sell at horizon

5-year hold

• IRR: 31.8%
• Equity multiple: 2.35×
• Total profit: $161,199
• Equity at exit: $63,369

10-year hold

• IRR: 39.5%
• Equity multiple: 4.87×
• Total profit: $460,754
• Equity at exit: $36,746

Cash invested: $119,000 (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 77568

• Home prices YoY: -22.7%
• Rents YoY: 4.0%
• Active inventory: 654
• Price-to-rent: 16.9×

Monthly cashflow live

• Estimated rent: $8,386 medium
• Mortgage (P&I): −$2,229
• Tax from tax record: −$671 /mo · $8,057/yr
• Insurance: −$177
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,761
• Net cashflow: $3,481

Break-even live

Break-even rent $3,979

Max offer price $425,000

Occupancy floor 53%

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

Units	Beds	Baths	Est. rent
▸ 4× units	5	1	$8,384
Total (4 units)			$8,386

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $425,000 Active 65 DOM
2. 2026-06-17
   days on market $425,000 Active 64 DOM
3. 2026-06-16
   days on market $425,000 Active 63 DOM
4. 2026-06-15
   days on market $425,000 Active 62 DOM
5. 2026-06-13
   days on market $425,000 Active 60 DOM
6. 2026-06-09
   days on market $425,000 Active 56 DOM
7. 2026-06-08
   days on market $425,000 Active 55 DOM
8. 2026-06-07
   days on market $425,000 Active 54 DOM
9. 2026-06-04
   days on market $425,000 Active 51 DOM
10. 2026-06-03
    days on market $425,000 Active 50 DOM
11. 2026-06-02
    days on market $425,000 Active 49 DOM
12. 2026-06-01
    days on market $425,000 Active 48 DOM
13. 2026-05-31
    days on market $425,000 Active 47 DOM
14. 2026-04-14
    listed $425,000 Active 214-char remark

    Show marketing remark (214 chars)

    If you are a first time investor or a seasoned investor this is an exceptional opportunity to own a well maintained fourplex. This income-producing property offers immediate returns with long-term growth potential.

15. 2023-10-02
    soldstatus
16. 2023-09-29
    soldstatus Sold 603-char remark

    Show marketing remark (603 chars)

    This is an excellent opportunity to purchase a turnkey, fully rented, recently remodeled/upgraded, cash flowing property in the fast-growing City of La Marque. With extremely close proximity to both Kemah and Galveston, La Marque is uniquely positioned to continue to experience excellent growth and development. Current total rent is $3,800 with very low maintenance on account of the recent full remodel, making this an excellent opportunity for any buy-and-hold investor, or house hacker. The property will qualify for FHA 1 to 4-unit loan with rental income. Excellent deal for any serious investor!

17. 2023-09-02
    status Pending 603-char remark

    Show marketing remark (603 chars)

    This is an excellent opportunity to purchase a turnkey, fully rented, recently remodeled/upgraded, cash flowing property in the fast-growing City of La Marque. With extremely close proximity to both Kemah and Galveston, La Marque is uniquely positioned to continue to experience excellent growth and development. Current total rent is $3,800 with very low maintenance on account of the recent full remodel, making this an excellent opportunity for any buy-and-hold investor, or house hacker. The property will qualify for FHA 1 to 4-unit loan with rental income. Excellent deal for any serious investor!

18. 2023-06-28
    listed $420,000 Active 603-char remark

    Show marketing remark (603 chars)

    This is an excellent opportunity to purchase a turnkey, fully rented, recently remodeled/upgraded, cash flowing property in the fast-growing City of La Marque. With extremely close proximity to both Kemah and Galveston, La Marque is uniquely positioned to continue to experience excellent growth and development. Current total rent is $3,800 with very low maintenance on account of the recent full remodel, making this an excellent opportunity for any buy-and-hold investor, or house hacker. The property will qualify for FHA 1 to 4-unit loan with rental income. Excellent deal for any serious investor!

19. 2023-01-18
    soldstatus
20. 2022-06-21
    soldstatus
21. 2021-10-02
    historical
22. 2021-09-20
    price $221,000
23. 2021-09-20
    status Active
24. 2021-09-12
    status Option Pending
25. 2021-09-02
    listed $235,000 Active
26. 2017-06-21
    soldstatus
27. 2017-06-19
    soldstatus Sold
28. 2017-04-28
    status Pending
29. 2017-04-17
    status Option Pending
30. 2017-04-12
    listed $182,000 Active
31. 2016-06-06
    soldstatus
32. 2016-06-03
    soldstatus Sold
33. 2016-05-30
    status Pending
34. 2016-05-20
    status Option Pending
35. 2016-02-18
    price $125,000
36. 2016-01-08
    status Active
37. 2016-01-08
    status Pending
38. 2015-12-21
    status Option Pending
39. 2015-11-19
    listed $131,000 Active
40. 2013-04-16
    soldstatus
41. 2013-03-28
    soldstatus
42. 2013-03-11
    historical
43. 2012-08-09
    listed $109,900
44. 2011-09-06
    historical
45. 2010-04-08
    listed $119,000
46. 2010-03-31
    historical
47. 2009-10-01
    listed $129,500
48. 2009-09-30
    historical
49. 2008-10-01
    listed $135,000
50. 2007-05-18
    historical

ⓘ 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: $8,057 · $671/mo
• Projected year-2 tax: $8,057 · $671/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 7/10 Severe FEMA zone X (shaded) · 59% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥110°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $100,632
• − Mortgage interest: −$23,807
• − Property taxes: −$8,057
• − Insurance: −$2,922
• − Repairs & maintenance: −$8,051
• − Management: −$8,051
• − Depreciation: −$12,364
• Taxable income: $37,381
• Est. tax owed @ 24.0%: −$8,972
• After-tax cash flow: $32,804/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: Texas City ISD
• NCES district ID: 4842510
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 29% ▼ -4.00%
• Median HH income: $44,875
• Composite: 24.47/100
• National rank: #7664
• State rank: #655 of 826 in TX

Livability — La Marque

• Score: 59/100
• State rank: #1136
• US rank: #20037

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D Housing A+ Health & safety F User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: La Marque, TX
• County: Galveston County · 357,330 people
• City population: 23,083
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 23,083
• Household income: $74,694
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 700.0

Population outlook (Galveston County) Hauer SSP2

• Today (2025): 390,640 people
• By 2030: 425,226 · +8.9%
• By 2040: 493,765 · +26.4%
• By 2050: 559,698 · +43.3%
• By 2075: 719,260 · +84.1%
• By 2100: 819,628 · +109.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.71)
• Race & ethnicity: White 37% Hispanic / Latino 29% Black 26% Two or more races 17% Asian 3%
• Hispanic origin (detail): Mexican 22% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Italian 1% Serbian 1%
• Foreign-born: 8% · Canada
• Languages at home: 77% English-only · Spanish 21% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Galveston

• 2024 margin: Strong R (+27.4) · D 35.7% · R 63.1% · Other 1.2%
• 2008→2024 swing: -7.9pp toward R · 2008: -19.5pp · 2024: -27.4pp
• All cycles: 2024: R+27.4 2020: R+22.6 2016: R+22.6 2012: R+26.9 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -69.39%
• Current HPI: 236.0239
• Rent YoY: ▲ 3.95%
• 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

+269.6% since first listed

42 events — show timeline

• 2026-04-14 Listed $425,000 HARMLS
• 2023-10-02 Sold (Public Records) — Public Records
• 2023-09-29 Sold (MLS) — HARMLS
• 2023-09-02 Pending — HARMLS
• 2023-06-28 Listed $420,000 HARMLS
• 2023-01-18 Sold (Public Records) — Public Records
• 2022-06-21 Sold (Public Records) — Public Records
• 2021-10-02 Listing Removed — HARMLS
• 2021-09-20 Price Changed $221,000 HARMLS
• 2021-09-20 Relisted — HARMLS
• 2021-09-12 Pending — HARMLS
• 2021-09-02 Listed $235,000 HARMLS
• 2017-06-21 Sold (Public Records) — Public Records
• 2017-06-19 Sold (MLS) — HARMLS
• 2017-04-28 Pending — HARMLS
• 2017-04-17 Pending — HARMLS
• 2017-04-12 Listed $182,000 HARMLS
• 2016-06-06 Sold (Public Records) — Public Records
• 2016-06-03 Sold (MLS) — HARMLS
• 2016-05-30 Pending — HARMLS
• 2016-05-20 Pending — HARMLS
• 2016-02-18 Price Changed $125,000 HARMLS
• 2016-01-08 Relisted — HARMLS
• 2016-01-08 Pending — HARMLS
• 2015-12-21 Pending — HARMLS
• 2015-11-19 Listed $131,000 HARMLS
• 2013-04-16 Sold (Public Records) — Public Records
• 2013-03-28 Sold (MLS) — HARMLS
• 2013-03-11 Listing Removed — HARMLS
• 2012-08-09 Listed $109,900 HARMLS
• 2011-09-06 Listing Removed — HARMLS
• 2010-04-08 Listed $119,000 HARMLS
• 2010-03-31 Listing Removed — HARMLS
• 2009-10-01 Listed $129,500 HARMLS
• 2009-09-30 Listing Removed — HARMLS
• 2008-10-01 Listed $135,000 HARMLS
• 2007-05-18 Listing Removed — HARMLS
• 2006-08-12 Listed $134,000 HARMLS
• 2003-09-23 Sold (Public Records) — Public Records
• 2003-07-24 Listing Removed — HARMLS
• 2003-01-24 Listed $115,000 HARMLS
• 2001-04-17 Sold (Public Records) — Public Records

Property tax history

+11.7%/yr

Latest (2025): $8,057 · -1.7% YoY. Source: county tax records.