21155 Gosling Rd #40 · Houston, TX 77388

$699,900

12 bd · 10.0 ba · 6,604 sqft · MultiFamily public records · 62 Days on market

Built 2019 Excellent condition 2,700 sqft lot Garage $106/sqft · 16% below area Est $835k · 16% under $1600/mo HOA · 88% 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 +14.8/15.0
• Cash flow +6.0/30.0
• 1% rule +5.4/10.0
• Schools +4.8/10.0
• Condition / age +4.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• DSCR +0.4/10.0
• 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

Located in a high-growth area of Spring/Klein, this fourplex built in 2019 offers INMEDIATE CASH FLOW and excellent long-term stability for investors. Each modern townhome-style unit includes 3 bedrooms, 2.5 baths, a private garage, granite countertops, stainless-steel appliances, and durable LVP flooring in wet areas—low-maintenance features that attract tenants and keep expenses down. All four units are currently rented with a strong rent history. The HOA covers exterior maintenance, insurance, water, sewer, and trash, simplifying ownership and improving returns.

Key facts

• Private garage
• Strong rent history
• Granite countertops

Tags

• PRIVATE GARAGE
• GRANITE COUNTERTOPS
• STAINLESS-STEEL APPLIANCES
• DURABLE LVP FLOORING
• STRONG RENT HISTORY
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 4 × 3.0-bed/2.5-bath units multifamily listed at $700k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-1k ($-16k/yr) — negative. Per door: $-335/mo.
• To cash-flow at today's rent, offer at most $463k (33.8% below list).
• Meets the 1% rule at list price ($7k rent vs $700k).
• Recommended offer: $463k (33.8% below list) — sets the bar for cash-flow.
• Cap rate 4.0% vs local median 3.0% 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 Oak H S (math 47% / reading 60%, grade C-, #428 of 1,632 statewide, top 27%, 3,621 students, 38% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: 638 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 62 days — a 6% lower offer ($658k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; HOA is 22% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $463,275 (33.8% 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 62 days. Have you received any prior offers? Is the seller open to a 34% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
6. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 1.04% ✓
• Cap rate: 4.00%
• Cash-on-cash: -8.20%
• DSCR: 0.64
• GRM: 8.0

CMA / ARV

• ARV (median comp): $835,024
• List price: $699,900
• Delta: -16.18%
• Verdict: UNDERPRICED
• Comps: 13 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	0.00mi	12/8.0	6,604 (0%)	24mo	$790,000	$120	72
21155 Gosling Rd Unit 6 A-D	0.12mi	12/8.0	6,752 (+2%)	21mo	$780,000	$116	65
21155 Gosling Rd Unit 25 A-D	0.12mi	12/2.0	6,604 (0%)	34mo	$750,000	$114	54
21155 Gosling Rd Unit 24 A-D	0.12mi	12/2.0	6,604 (0%)	34mo	$779,900	$118	54
21155 Gosling Rd Unit 42A-D	0.12mi	12/2.0	6,752 (+2%)	38mo	$835,000	$124	51

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: -30.4%
• Equity multiple: -0.01×
• Total profit: $-197,227
• Equity at exit: $104,357

10-year hold

• IRR: -30.9%
• Equity multiple: -0.41×
• Total profit: $-275,505
• Equity at exit: $60,515

Cash invested: $195,972 (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: 5 active
• Median asking: $699,900 ($106/sqft)
• Median days on market: 80 d
• This list price: 40% of active listings are priced below it
• ARV vs active asking: +19.3% 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: 638
• Price-to-rent: 32.0×

Monthly cashflow live

• Estimated rent: $7,288 high
• Mortgage (P&I): −$3,670
• Tax from tax record: −$1,535 /mo · $18,420/yr
• Insurance: −$292
• HOA: −$1,600
• Vacancy / Maint / Mgmt: −$1,530
• Net cashflow: $-1,339

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

Units	Beds	Baths	Est. rent
▸ 4× units	3	2.5	$7,288
Total (4 units)			$7,288

Break-even live

Break-even rent $8,984

Max offer price $463,275

Occupancy floor —

Sensitivity live

Price	-10% $-943	-5% $-1,141	+0% $-1,339	+5% $-1,538	+10% $-1,736
Rent	-10% $-1,915	-5% $-1,627	+0% $-1,339	+5% $-1,052	+10% $-764
Rate	-1.0pp $-987	-0.5pp $-1,161	base $-1,339	+0.5pp $-1,521	+1.0pp $-1,705

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: $174,975
• Closing costs: $20,997
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 31 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	144d	6	0.15mi
5907 Wrest Point Ct Spring, TX	4.0	2.5	2587	$5,500	$2.13	184d	1	0.30mi
21423 Snow Goose Ct Spring, TX	3.0	2.0	2222	$1,786	$0.80	85d	1	0.48mi
5015 Cupids Bower Ct Spring, TX	4.0	2.5	2353	$2,225	$0.95	2d	1	0.65mi
20263 Eden Pines Spring, TX	4.0	2.5	2706	$2,445	$0.90	56d	1	0.66mi
21831 Catoosa Dr Spring, TX	4.0	2.5	2287	$2,100	$0.92	107d	1	0.67mi
21831 Catoosa Dr Spring, TX	4.0	2.5	2287	$2,100	$0.92	1d	1	0.67mi
20935 Clovermeadow Spring, TX	4.0	2.5	2509	$2,221	$0.89	127d	1	0.70mi
5022 Camberleigh Ln Spring, TX	4.0	2.0	2079	$2,050	$0.99	10d	1	0.72mi
6110 Wilcox Point Dr Spring, TX	3.0	2.5	2429	$2,245	$0.92	184d	1	0.74mi
21334 Bella Luna Ct Spring, TX	4.0	2.5	2562	$2,210	$0.86	151d	1	0.93mi
6439 Lily Hollow Ct Spring, TX	4.0	2.5	2570	$2,125	$0.83	81d	1	0.96mi
21415 Flower Valley Cir Spring, TX	4.0	2.5	3500	$2,395	$0.68	184d	1	0.99mi
6519 Bluestone Springs Ln Spring, TX	3.0	2.5	1829	$2,050	$1.12	23d	1	1.01mi
6519 Bluestone Springs Ln Spring, TX	3.0	2.5	1829	$2,050	$1.12	21d	1	1.01mi
6535 Fairbrook Park Ln Spring, TX	4.0	2.5	2231	$2,250	$1.01	184d	1	1.03mi
6506 Rose Willow Ln Spring, TX	4.0	2.5	2540	$2,450	$0.96	108d	1	1.03mi
6411 Sparrows Glen Ln Spring, TX	3.0	2.5	2390	$2,223	$0.93	184d	1	1.05mi
22418 Bridgestone Ridge Dr Spring, TX	4.0	3.5	2932	$2,695	$0.92	165d	1	1.08mi
22418 Bridgestone Ridge Dr Spring, TX	4.0	3.5	2932	$2,395	$0.82	114d	1	1.08mi
6626 Winter Mountain Ln Spring, TX	3.0	2.5	2207	$1,961	$0.89	69d	1	1.12mi
4614 Bridgestone Path Dr Spring, TX	4.0	2.5	2450	$2,325	$0.95	158d	1	1.14mi
21406 Sunrise Brook Ln Spring, TX	4.0	2.5	2724	$2,280	$0.84	77d	1	1.22mi
19727 Glenfinch Ln Spring, TX	4.0	2.5	2029	$2,150	$1.06	65d	1	1.30mi
4403 Pineville Ln Spring, TX	4.0	2.0	1914	$1,931	$1.01	57d	1	1.33mi
21902 Blossom Grove Ln Spring, TX	4.0	2.0	1931	$2,180	$1.13	57d	1	1.34mi
4310 Stallion Brook Ln Spring, TX	4.0	2.0	2096	$2,175	$1.04	161d	1	1.35mi
5006 Sawmill Timber Dr Spring, TX	4.0	3.0	3142	$3,500	$1.11	80d	1	1.37mi
5519 Rivertree Ln Spring, TX	4.0	2.0	2003	$2,165	$1.08	0d	1	1.44mi
4511 Spinks Creek Ln Spring, TX	4.0	3.0	1998	$1,397	$0.70	10d	1	1.44mi
4511 Spinks Creek Ln Spring, TX	4.0	3.0	1998	$1,397	$0.70	13d	1	1.44mi

Property features AI

Finance

• Financial info: Property listed as multi-unit with 4 total units
• HOA & community: Association: Goodwin & CoAssociation amenities include dog park, playground, and parkMonthly association fee of $1,600 covering common areas, insurance, structure maintenance, recreation facilities, sewer, trash, and water

Exterior

• Parking: Garage with garage door opener
• Utilities: Electricity availableWater available
• Home design: Residential income propertyBuilt in 2019
• Construction: Composition roofBuilt in 2019
• Exterior features: PlaygroundDog parkPark

Interior

• Kitchen: DishwasherMicrowaveRefrigerator
• Flooring: CarpetPlankVinyl
• Bathrooms: 8 full bathrooms
• Heating & cooling: Central heating (electric)Central air (electric)
• Interior features: Granite counters
• Laundry & utility: Washer hookupDryer hookup

HOA detail $1,600/mo · $19,200/yr

• Likely covers: watersewertrashexterior maint.

Listing history 50 events

1. 2026-11-08
   days on market $699,900 Active 62 DOM
2. 2026-11-07
   days on market $699,900 Active 61 DOM
3. 2026-11-06
   days on market $699,900 Active 60 DOM
4. 2026-11-05
   days on market $699,900 Active 59 DOM
5. 2026-11-04
   days on market $699,900 Active 58 DOM
6. 2026-11-02
   days on market $699,900 Active 56 DOM
7. 2026-11-01
   days on market $699,900 Active 55 DOM
8. 2026-10-31
   days on market $699,900 Active 54 DOM
9. 2026-10-30
   days on market $699,900 Active 53 DOM
10. 2026-10-29
    days on market $699,900 Active 52 DOM
11. 2026-10-28
    days on market $699,900 Active 51 DOM
12. 2026-10-27
    days on market $699,900 Active 50 DOM
13. 2026-10-26
    days on market $699,900 Active 49 DOM
14. 2026-10-26
    days on market $699,900 Active 48 DOM
15. 2026-10-24
    days on market $699,900 Active 47 DOM
16. 2026-10-23
    days on market $699,900 Active 46 DOM
17. 2026-10-22
    days on market $699,900 Active 45 DOM
18. 2026-10-21
    days on market $699,900 Active 44 DOM
19. 2026-10-20
    days on market $699,900 Active 43 DOM
20. 2026-10-19
    days on market $699,900 Active 42 DOM
21. 2026-10-18
    days on market $699,900 Active 41 DOM
22. 2026-10-17
    days on market $699,900 Active 40 DOM
23. 2026-10-16
    days on market $699,900 Active 39 DOM
24. 2026-10-15
    days on market $699,900 Active 38 DOM
25. 2026-10-14
    days on market $699,900 Active 37 DOM
26. 2026-10-13
    days on market $699,900 Active 36 DOM
27. 2026-10-12
    days on market $699,900 Active 35 DOM
28. 2026-10-11
    days on market $699,900 Active 34 DOM
29. 2026-10-10
    days on market $699,900 Active 33 DOM
30. 2026-10-09
    days on market $699,900 Active 32 DOM
31. 2026-10-08
    days on market $699,900 Active 31 DOM
32. 2026-10-07
    days on market $699,900 Active 30 DOM
33. 2026-10-06
    days on market $699,900 Active 29 DOM
34. 2026-10-05
    days on market $699,900 Active 28 DOM
35. 2026-10-04
    days on market $699,900 Active 27 DOM
36. 2026-10-04
    days on market $699,900 Active 26 DOM
37. 2026-10-02
    days on market $699,900 Active 25 DOM
38. 2026-10-01
    days on market $699,900 Active 24 DOM
39. 2026-09-30
    days on market $699,900 Active 23 DOM
40. 2026-09-29
    days on market $699,900 Active 22 DOM
41. 2026-09-28
    days on market $699,900 Active 21 DOM
42. 2026-09-27
    days on market $699,900 Active 20 DOM
43. 2026-09-26
    days on market $699,900 Active 19 DOM
44. 2026-09-25
    days on market $699,900 Active 18 DOM
45. 2026-09-24
    days on market $699,900 Active 17 DOM
46. 2026-09-23
    days on market $699,900 Active 16 DOM
47. 2026-09-22
    days on market $699,900 Active 15 DOM
48. 2026-09-21
    days on market $699,900 Active 14 DOM
49. 2026-09-20
    days on market $699,900 Active 13 DOM
50. 2026-09-19
    days on market $699,900 Active 12 DOM

ⓘ 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: $18,420 · $1,535/mo
• Projected year-2 tax: $18,420 · $1,535/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 3/10 Moderate FEMA zone X (unshaded) · 6% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 22 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: $87,456
• − Mortgage interest: −$39,205
• − Property taxes: −$18,420
• − Insurance: −$3,500
• − Repairs & maintenance: −$6,996
• − Management: −$6,996
• − HOA: −$19,200
• − Depreciation: −$20,361
• Taxable loss: −$27,223
• Est. tax savings @ 24.0%: +$6,533
• After-tax cash flow: $-9,540/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 · 12 photos

Excellent 95/100 None rehab

This fully leased fourplex in a high-growth area of Spring/Klein is in excellent condition with modern features and low-maintenance amenities, making it an attractive investment for both resale and rental.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Painting exterior and interior walls — Fresh paint can improve the home's appearance and add value for both resale and rental. ↑

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%
• 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

• Financial info: Property listed as multi-unit with 4 total units
• HOA & community: Association: Goodwin & CoAssociation amenities include dog park, playground, and parkMonthly association fee of $1,600 covering common areas, insurance, structure maintenance, recreation facilities, sewer, trash, and water

Exterior

• Parking: Garage with garage door opener
• Utilities: Electricity availableWater available
• Home design: Residential income propertyBuilt in 2019
• Construction: Composition roofBuilt in 2019
• Exterior features: PlaygroundDog parkPark

Interior

• Kitchen: DishwasherMicrowaveRefrigerator
• Flooring: CarpetPlankVinyl
• Bathrooms: 8 full bathrooms
• Heating & cooling: Central heating (electric)Central air (electric)
• Interior features: Granite counters
• Laundry & utility: Washer hookupDryer hookup

Price history

2 events — show timeline

• 2026-09-07 Listed $699,900 HARMLS
• 2022-07-13 Sold (Public Records) — Public Records

Property tax history

+0.8%/yr

Latest (2026): $18,420 · +3.9% YoY. Source: county tax records.