8361 Tate St · Houston, TX 77028

$240,000

3 bd · 2.0 ba · 1,830 sqft · SingleFamily public records · 114 Days on market

Built 2023 Good condition 2,252 sqft lot $131/sqft · 5% below area Est $253k · 5% under ↓ 6% since listing

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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 +9.8/15.0
• Cash flow +7.7/30.0
• Appreciation +7.6/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• 1% rule +3.0/10.0
• Schools +2.7/10.0
• Rent growth +2.1/5.0
• DSCR +1.8/10.0

Listing remarks MLS

Welcome to this contemporary two story home built in 2023 on a corner lot in Queensland Estates, offering modern finishes, a functional layout, and low maintenance living. This thoughtfully designed home features 3 bedrooms, 2 full baths, and 1 half bath. The open concept first floor showcases durable waterproof vinyl plank flooring, a spacious living area, and a well appointed kitchen with solid wood cabinetry, quartz countertops, stainless steel gas range, and walk in pantry. All bedrooms are located upstairs for added privacy, including a generous 12 x 15 primary suite with walk in closet and ensuite bath featuring a frameless glass shower and quartz vanity, while the secondary bedrooms share a full bath. Energy efficient features include Low E windows, reflective roof, blown insulation, Energy Star appliances, and HVAC rated over 13 SEER. Currently tenant occupied, this property offers immediate rental income and a strong long term hold opportunity for investors.

Key facts

• Solid wood cabinetry
• Modern finishes
• Functional layout

Tags

• CORNER LOT
• MODERN FINISHES
• FUNCTIONAL LAYOUT
• LOW MAINTENANCE LIVING
• WELL APPOINTED KITCHEN
• SOLID WOOD CABINETRY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $240k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-278 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $191k (20.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (20.1% below list).
• Recommended offer: $191k (20.5% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 3.2% 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: Elmore El (math 12% / reading 14%, grade F, #4,152 of 4,322 statewide, top 96%, 532 students, 99% FRL); Key Middle (math 10% / reading 20%, grade F, #1,569 of 1,662 statewide, top 95%, 615 students, 100% FRL); Kashmere H S (math 14% / reading 22%, grade F, #1,445 of 1,632 statewide, top 89%, 725 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 31% district-wide (-16 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 (-1.6%/yr); 355 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $1,919/mo this rent would consume 60% of the median local household income ($38k/yr) (locally 1177% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $14k of equity ($2k loan paydown + $13k appreciation (5.2% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $190,806 (20.5% 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 114 days. Have you received any prior offers? Is the seller open to a 20% 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: 0.80% ✗
• Cap rate: 4.90%
• Cash-on-cash: -4.97%
• DSCR: 0.78
• GRM: 10.4

CMA / ARV

• ARV (median comp): $252,699
• List price: $240,000
• Delta: -5.03%
• 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
5503 Bacher St	0.35mi	4/2.5 (+1)	1,860 (+2%)	1mo	$265,000	$142	73
8125 Kenton St	0.54mi	3/2.0	1,871 (+2%)	10mo	$275,000	$147	63
5505 Bacher St	0.35mi	4/2.5 (+1)	1,726 (-6%)	6mo	$265,000	$154	62
8114 Jeffery St	0.63mi	3/2.5	1,784 (-2%)	4mo	$275,000	$154	61
5803 Haight St Unit A	0.41mi	3/2.5	1,627 (-11%)	0mo	$282,000	$173	60
5803 Haight St Unit B	0.41mi	3/2.5	1,627 (-11%)	1mo	$274,000	$168	60
7969 Rand St	0.64mi	3/2.0	1,750 (-4%)	6mo	$255,000	$146	58
5915 Haight St	0.50mi	3/2.5	1,627 (-11%)	2mo	$282,000	$173	55
5812 Bacher St	0.46mi	3/2.5	1,627 (-11%)	8mo	$274,000	$168	51
5814 Bacher St	0.46mi	3/2.5	1,627 (-11%)	8mo	$274,000	$168	51
6111 Haight St	0.65mi	3/2.5	1,627 (-11%)	3mo	$274,000	$168	46
6109 Haight St	0.65mi	3/2.5	1,627 (-11%)	5mo	$282,000	$173	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.25% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 8.2%
• Equity multiple: 1.53×
• Total profit: $35,441
• Equity at exit: $139,591

10-year hold

• IRR: 9.0%
• Equity multiple: 2.66×
• Total profit: $111,572
• Equity at exit: $243,933

Cash invested: $67,200 (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 77028

• Home prices YoY: 2.0%
• Rents YoY: -1.6%
• Active inventory: 355
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,919 high
• Mortgage (P&I): −$1,259
• Tax from tax record: −$436 /mo · $5,227/yr
• Insurance: −$100
• HOA: −$0
• Vacancy / Maint / Mgmt: −$403
• Net cashflow: $-278

Break-even live

Break-even rent $2,271

Max offer price $190,806

Occupancy floor —

Sensitivity live

Price	-10% $-143	-5% $-211	+0% $-278	+5% $-346	+10% $-414
Rent	-10% $-430	-5% $-354	+0% $-278	+5% $-203	+10% $-127
Rate	-1.0pp $-158	-0.5pp $-217	base $-278	+0.5pp $-341	+1.0pp $-404

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: $60,000
• Closing costs: $7,200
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5217 E Houston Rd Unit A Houston, TX	3.0	2.5	1608	$1,700	$1.06	0d	1	0.16mi
5426 E Houston Rd Unit A Houston, TX	3.0	2.5	1608	$1,675	$1.04	1d	1	0.17mi
8161 Tate St Houston, TX	3.0	3.0	2184	$1,850	$0.85	45d	1	0.29mi
5415 Bacher St Unit A Houston, TX	3.0	2.5	1540	$2,350	$1.53	45d	1	0.34mi
5415 Bacher St Unit A Houston, TX	3.0	2.5	1540	$2,350	$1.53	26d	1	0.34mi
7956 Bonaire St Unit A Houston, TX	3.0	2.5	1498	$2,050	$1.37	1d	1	0.63mi
7956 Bonaire St Unit B Houston, TX	3.0	2.5	1498	$2,150	$1.44	45d	1	0.63mi
8135 Chateau St Houston, TX	3.0	3.0	1610	$1,645	$1.02	12d	1	0.81mi
7839 Sandy St Houston, TX	3.0	2.0	1300	$1,575	$1.21	1d	1	0.85mi
8158 Sunbury St Houston, TX	3.0	2.5	1300	$1,525	$1.17	26d	1	0.87mi
7966 Henson St Unit B Houston, TX	3.0	2.0	1608	$1,410	$0.88	45d	1	1.08mi
7945 Henson St Houston, TX	3.0	2.0	1300	$1,665	$1.28	1d	1	1.12mi
7426 Miley St Houston, TX	4.0	2.0	2095	$1,650	$0.79	26d	1	1.43mi

Listing history 16 events

1. 2026-06-21
   days on market $240,000 Active 114 DOM
2. 2026-06-18
   days on market $240,000 Active 111 DOM
3. 2026-06-17
   days on market $240,000 Active 110 DOM
4. 2026-06-16
   days on market $240,000 Active 109 DOM
5. 2026-06-15
   days on market $240,000 Active 108 DOM
6. 2026-06-13
   days on market $240,000 Active 106 DOM
7. 2026-06-10
   days on market $240,000 Active 102 DOM
8. 2026-06-08
   days on market $240,000 Active 101 DOM
9. 2026-06-07
   days on market $240,000 Active 100 DOM
10. 2026-06-04
    days on market $240,000 Active 97 DOM
11. 2026-06-01
    days on market $240,000 Active 94 DOM
12. 2026-05-31
    days on market $240,000 Active 93 DOM
13. 2026-04-09
    price $240,000 981-char remark

    Show marketing remark (981 chars)

    Welcome to this contemporary two story home built in 2023 on a corner lot in Queensland Estates, offering modern finishes, a functional layout, and low maintenance living. This thoughtfully designed home features 3 bedrooms, 2 full baths, and 1 half bath. The open concept first floor showcases durable waterproof vinyl plank flooring, a spacious living area, and a well appointed kitchen with solid wood cabinetry, quartz countertops, stainless steel gas range, and walk in pantry. All bedrooms are located upstairs for added privacy, including a generous 12 x 15 primary suite with walk in closet and ensuite bath featuring a frameless glass shower and quartz vanity, while the secondary bedrooms share a full bath. Energy efficient features include Low E windows, reflective roof, blown insulation, Energy Star appliances, and HVAC rated over 13 SEER. Currently tenant occupied, this property offers immediate rental income and a strong long term hold opportunity for investors.

14. 2026-03-18
    price $250,000 981-char remark

    Show marketing remark (981 chars)

    Welcome to this contemporary two story home built in 2023 on a corner lot in Queensland Estates, offering modern finishes, a functional layout, and low maintenance living. This thoughtfully designed home features 3 bedrooms, 2 full baths, and 1 half bath. The open concept first floor showcases durable waterproof vinyl plank flooring, a spacious living area, and a well appointed kitchen with solid wood cabinetry, quartz countertops, stainless steel gas range, and walk in pantry. All bedrooms are located upstairs for added privacy, including a generous 12 x 15 primary suite with walk in closet and ensuite bath featuring a frameless glass shower and quartz vanity, while the secondary bedrooms share a full bath. Energy efficient features include Low E windows, reflective roof, blown insulation, Energy Star appliances, and HVAC rated over 13 SEER. Currently tenant occupied, this property offers immediate rental income and a strong long term hold opportunity for investors.

15. 2026-02-27
    listed $255,000 Active 981-char remark

    Show marketing remark (981 chars)

    Welcome to this contemporary two story home built in 2023 on a corner lot in Queensland Estates, offering modern finishes, a functional layout, and low maintenance living. This thoughtfully designed home features 3 bedrooms, 2 full baths, and 1 half bath. The open concept first floor showcases durable waterproof vinyl plank flooring, a spacious living area, and a well appointed kitchen with solid wood cabinetry, quartz countertops, stainless steel gas range, and walk in pantry. All bedrooms are located upstairs for added privacy, including a generous 12 x 15 primary suite with walk in closet and ensuite bath featuring a frameless glass shower and quartz vanity, while the secondary bedrooms share a full bath. Energy efficient features include Low E windows, reflective roof, blown insulation, Energy Star appliances, and HVAC rated over 13 SEER. Currently tenant occupied, this property offers immediate rental income and a strong long term hold opportunity for investors.

16. 2023-07-17
    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: $5,227 · $436/mo
• Projected year-2 tax: $5,227 · $436/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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥110°F today · 20 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: $23,023
• − Mortgage interest: −$13,444
• − Property taxes: −$5,227
• − Insurance: −$1,200
• − Repairs & maintenance: −$1,842
• − Management: −$1,842
• − Depreciation: −$6,982
• Taxable loss: −$7,513
• Est. tax savings @ 24.0%: +$1,803
• After-tax cash flow: $-1,539/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

Good 80/100 None rehab

This contemporary two-story home built in 2023 is in excellent condition with modern finishes and low maintenance living. It features a spacious kitchen, two bathrooms, and hardwood flooring in the living areas. The home is move-in ready and would benefit from a fresh coat of paint and hardwood flooring in the bedrooms.

Value-add opportunities

• Resale Painting the interior walls — Neutral paint can be refreshed to match current trends
• Rental Replace carpet with hardwood flooring in bedrooms — Hardwood flooring is more durable and easier to clean
• Both Install smart home devices — Smart home devices can increase convenience and property value

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the interior walls — Neutral paint can be refreshed to match current trends ↑
• Rental Replace carpet with hardwood flooring in bedrooms — Hardwood flooring is more durable and easier to clean ↑
• Both Install smart home devices — Smart home devices can increase convenience and property 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): 19,109
• Household income: $38,357
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1177.0

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: Majority Black (57%)
• Race & ethnicity: Black 57% Hispanic / Latino 41% Two or more races 15% White 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 13% · Canada
• Languages at home: 61% English-only · Spanish 38%

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: ▲ 5.25%
• Current HPI: 267.7798
• Rent YoY: ▼ -1.55%
• 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

-5.9% since first listed

4 events — show timeline

• 2026-04-09 Price Changed $240,000 HARMLS
• 2026-03-18 Price Changed $250,000 HARMLS
• 2026-02-27 Listed $255,000 HARMLS
• 2023-07-17 Sold (Public Records) — Public Records

Property tax history

+208.6%/yr

Latest (2025): $5,227 · -7.9% YoY. Source: county tax records.