9309 Cathedral Dr · Houston, TX 77051

$180,000

3 bd · 1.0 ba · 1,292 sqft · SingleFamily public records · 90 Days on market

Built 1950 5,501 sqft lot $139/sqft · at area comps Est $172k · at est. ↓ 4% since listing

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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 +23.3/30.0
• Appreciation +10.0/10.0
• DSCR +7.5/10.0
• 1% rule +5.8/10.0
• ARV discount +5.5/15.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Doll of a house in a well established neighborhood. No HOA. The home features three large bedrooms and two full bathrooms. The garage has been converted into a den or could be used as a forth bedroom. Lush landscaping front and back with a shed in the backyard. Backyard is fenced with a covered patio. Home has been in the same family for fifty plus years and has been very well maintained. Carport has recessed lighting. Home has a semi-open plan. Kitchen has granite counters and tile flooring. There are original hardwood floors underneath the carpet in this home. The primary bath is large with a walk in shower. The home is freshly painted and ready for move in. Square footage differs from CAD data. Depending on tastes, with a few updates this home will shine like the diamond that it is. Please call for an appointment to tour this classic home.

Key facts

• Converted garage
• Covered patio
• Lush landscaping

Tags

• WELL ESTABLISHED NEIGHBORHOOD
• NO HOA
• CONVERTED GARAGE
• LUSH LANDSCAPING
• FENCED BACKYARD
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $328 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: schools D, 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.
• Market conditions: Rents rising fast (+4.8%/yr); 312 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $1,949/mo this rent would consume 62% of the median local household income ($37k/yr) (locally 1446% 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 $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 4.8% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $169,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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 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: 1.08% ✓
• Cap rate: 8.48%
• Cash-on-cash: 7.81%
• DSCR: 1.35
• GRM: 7.7

CMA / ARV

• ARV (median comp): $172,252
• List price: $180,000
• Delta: 4.50%
• 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
9321 Cathedral Dr	0.03mi	3/1.0	1,204 (-7%)	4mo	$159,000	$132	84
9506 Sierra Dr	0.22mi	4/2.0 (+1)	1,316 (+2%)	3mo	$160,000	$122	76
10209 Cathedral Dr	0.59mi	3/1.5	1,244 (-4%)	3mo	$180,000	$145	62
10014 Sierra Dr	0.48mi	4/2.0 (+1)	1,243 (-4%)	2mo	$185,000	$149	61
3034 Corksie St	0.60mi	3/2.0	1,225 (-5%)	0mo	$219,900	$180	59
10006 Chesterfield Dr	0.49mi	3/1.0	1,170 (-9%)	3mo	$125,000	$107	59
10205 Sierra Dr	0.58mi	3/1.0	1,151 (-11%)	3mo	$120,000	$104	52
2818 Milton Lodge Ln	0.69mi	3/2.5	1,384 (+7%)	2mo	$279,990	$202	49
10108 Penryn Forest Trl	0.68mi	3/2.5	1,384 (+7%)	2mo	$279,990	$202	48
10204 Penryn Forest Trl	0.72mi	3/2.5	1,384 (+7%)	1mo	$284,990	$206	48
2814 Milton Lodge Ln	0.69mi	3/2.5	1,384 (+7%)	3mo	$279,990	$202	47
10305 Penryn Forest Trl	0.73mi	3/2.5	1,384 (+7%)	3mo	$279,990	$202	45

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

Projected returns pro-forma

10.0% appreciation · 4.77% rent growth · sell at horizon

5-year hold

• IRR: 30.7%
• Equity multiple: 3.43×
• Total profit: $122,472
• Equity at exit: $162,158

10-year hold

• IRR: 27.1%
• Equity multiple: 7.98×
• Total profit: $351,944
• Equity at exit: $349,700

Cash invested: $50,400 (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 77051

• Home prices YoY: 9.7%
• Rents YoY: 4.8%
• Active inventory: 312
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,949 high
• Mortgage (P&I): −$944
• Tax from tax record: −$192 /mo · $2,308/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $328

Break-even live

Break-even rent $1,533

Max offer price $180,000

Occupancy floor 78%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9606 Ashville Dr Unit B Houston, TX	3.0	2.0	1610	$1,570	$0.98	43d	1	0.33mi
9610 Buffum St Houston, TX	3.0	3.0	1605	$1,799	$1.12	43d	1	0.36mi
2910 Reed Rd Houston, TX	1.0–3.0	1.0–2.0	967	$1,280	$1.32	1d	5	0.44mi
2889 Reed Rd Houston, TX	1.0–2.0	1.0–2.0	997	$1,648	$1.65	2d	2	0.52mi
2725 Reed Rd Houston, TX	1.0–3.0	1.0–2.5	911	$975	$1.07	43d	1	0.66mi
10510 Cathedral Dr Houston, TX	3.0	1.0	887	$1,300	$1.47	43d	1	0.72mi
10514 Wellesley Terrace Trl Houston, TX	3.0	3.0	1843	$2,300	$1.25	18d	1	0.88mi
2937 Amherst Meadow Ln Unit NA Houston, TX	3.0	2.5	1820	$2,400	$1.32	4d	1	0.89mi
2937 Amherst Meadow Ln Houston, TX	3.0	2.5	1820	$2,450	$1.35	22d	1	0.89mi
3137 W Bellfort Ave Houston, TX	2.0	2.0	1164	$1,802	$1.55	43d	1	0.91mi
10415 Lancaster Ln Houston, TX	3.0–4.0	2.5	1937	$2,525	$1.30	20d	1	0.96mi
4538 Clover St Houston, TX	4.0	2.0	1768	$1,595	$0.90	43d	1	1.02mi
8328 Corinth St Unit B Houston, TX	3.0	2.5	1500	$2,800	$1.87	20d	1	1.05mi
4117 Shelby Cir Unit 1230900P Houston, TX	4.0	2.0	1367	$5,355	$3.92	2d	1	1.13mi
4514 Galesburg St Unit B Houston, TX	3.0	2.5	1680	$3,500	$2.08	24d	1	1.15mi
4526 Knoxville St Unit A Houston, TX	3.0	2.5	1474	$1,775	$1.20	14d	1	1.15mi
3620 Du Bois St Unit 1302349P Houston, TX	3.0	2.5	1797	$2,945	$1.64	3d	1	1.16mi
4406 Sterling St Houston, TX	3.0	2.5	1840	$1,999	$1.09	16d	1	1.18mi
4723 Mallow St Houston, TX	3.0	2.5	1472	$1,850	$1.26	5d	1	1.29mi
8010 Livingston St Houston, TX	3.0	2.0	1400	$1,800	$1.29	43d	1	1.33mi
8521 Dosia St Houston, TX	3.0	2.0	1028	$1,665	$1.62	12d	1	1.34mi
4810 Wilmington St Unit A Houston, TX	3.0	2.0	1165	$1,650	$1.42	43d	1	1.38mi

Listing history 12 events

1. 2026-06-15
   status $180,000 Pending 90 DOM
2. 2026-06-15
   days on market $180,000 Active 90 DOM
3. 2026-06-13
   days on market $180,000 Active 88 DOM
4. 2026-06-10
   days on market $180,000 Active 84 DOM
5. 2026-06-08
   days on market $180,000 Active 83 DOM
6. 2026-06-07
   days on market $180,000 Active 82 DOM
7. 2026-06-04
   days on market $180,000 Active 79 DOM
8. 2026-06-01
   days on market $180,000 Active 76 DOM
9. 2026-05-31
   days on market $180,000 Active 75 DOM
10. 2026-05-10
    price $180,000 854-char remark

    Show marketing remark (854 chars)

    Doll of a house in a well established neighborhood. No HOA. The home features three large bedrooms and two full bathrooms. The garage has been converted into a den or could be used as a forth bedroom. Lush landscaping front and back with a shed in the backyard. Backyard is fenced with a covered patio. Home has been in the same family for fifty plus years and has been very well maintained. Carport has recessed lighting. Home has a semi-open plan. Kitchen has granite counters and tile flooring. There are original hardwood floors underneath the carpet in this home. The primary bath is large with a walk in shower. The home is freshly painted and ready for move in. Square footage differs from CAD data. Depending on tastes, with a few updates this home will shine like the diamond that it is. Please call for an appointment to tour this classic home.

11. 2026-03-17
    listed $187,500 Active 854-char remark

    Show marketing remark (854 chars)

    Doll of a house in a well established neighborhood. No HOA. The home features three large bedrooms and two full bathrooms. The garage has been converted into a den or could be used as a forth bedroom. Lush landscaping front and back with a shed in the backyard. Backyard is fenced with a covered patio. Home has been in the same family for fifty plus years and has been very well maintained. Carport has recessed lighting. Home has a semi-open plan. Kitchen has granite counters and tile flooring. There are original hardwood floors underneath the carpet in this home. The primary bath is large with a walk in shower. The home is freshly painted and ready for move in. Square footage differs from CAD data. Depending on tastes, with a few updates this home will shine like the diamond that it is. Please call for an appointment to tour this classic home.

12. 1988-01-02
    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: $2,308 · $192/mo
• Projected year-2 tax: $3,294 · $274/mo
• Expected delta: +$986/yr (+$82/mo · 42.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,383
• − Mortgage interest: −$10,083
• − Property taxes: −$2,308
• − Insurance: −$900
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − Depreciation: −$5,236
• Taxable income: $1,115
• Est. tax owed @ 24.0%: −$268
• After-tax cash flow: $3,670/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: 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): 19,795
• Household income: $37,415
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 1446.0

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: Predominantly Black (77%)
• Race & ethnicity: Black 77% Hispanic / Latino 16% Two or more races 11% White 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 10%

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: ▲ 16.02%
• Current HPI: 180.4283
• Rent YoY: ▲ 4.77%
• 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

-4.0% since first listed

3 events — show timeline

• 2026-05-10 Price Changed $180,000 HARMLS
• 2026-03-17 Listed $187,500 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+1.9%/yr

Latest (2025): $2,308 · +11.7% YoY. Source: county tax records.