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4818 Paula St Duplex
D Composite 44.54
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 +15.0/15.0
  • Cash flow +10.7/30.0
  • Condition / age +4.8/5.0
  • Livability +3.7/5.0
  • 1% rule +3.1/10.0
  • DSCR +3.1/10.0
  • Rent growth +2.5/5.0
  • Schools +1.6/10.0
  • Appreciation +0.0/10.0

$405,000

4818 Paula St · Houston, TX 77033
6 bd · 4.0 ba · 2,458 sqft · MultiFamily · 19 Days on market
Built 2021 Excellent condition 7,068 sqft lot $165/sqft · 19% below area Est $502k · 19% under

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

This modern one-story duplex was designed with luxury in mind to attract and maintain tenants. Open floor plans keep you engage with others which makes it ideal for entertaining. Each unit has 3 bedrooms and two bathrooms. Primary bedrooms baths features glass enclosed showers and separate soaking tubs. High ceilings, recessed lighting, lots of kitchen cabinets, and more! Come see how this area of Paula St/Sunnyside is experiencing rapid growth. Both units are leased. Call for more details. Traditional front porch/deck for that early morning cup of coffee. Short commute times to Medical Center, downtown, Pearland or Clear Lake. Private backyard for entertaining. No HOA.

Key facts

  • Short commute times
  • Private backyard
  • Open floor plans

Tags

OPEN FLOOR PLANSGLASS ENCLOSED SHOWERSSEPARATE SOAKING TUBSTRADITIONAL FRONT PORCHPRIVATE BACKYARDSHORT COMMUTE TIMES

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 2 × 3-bed/2.0-bath units multifamily listed at $405k. Condition is rated excellent.

Deal economics

  • At list price, monthly cash flow is $-192 ($-2k/yr) — negative. Per door: $-96/mo.
  • To cash-flow at today's rent, offer at most $377k (6.9% below list).
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $330k (18.5% below list).
  • Recommended offer: $330k (18.5% below list) — sets the bar for 1% rule.
  • Cap rate 5.7% 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: Woodson School (math 17% / reading 22%, grade F, #3,583 of 4,322 statewide, top 86%, 572 students, 99% FRL); Thomas Middle (math 3% / reading 13%, grade F, #1,654 of 1,662 statewide, top 100%, 526 students, 98% FRL); Sterling H S (math 16% / reading 27%, grade F, #1,377 of 1,632 statewide, top 85%, 1,421 students, 92% FRL) — zoned schools average 96% FRL vs 71% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
  • Zoned-school proficiency averages 16% at this address vs 31% district-wide (-15 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
  • Market conditions: 426 active listings in the ZIP; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
  • At $1,650/mo per unit this rent would consume 52% of the median local household income ($38k/yr) (locally 19% 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 $12k 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 19 days — a 2% lower offer ($399k) is reasonable based on typical stale-listing flexibility.
  • 4 sale attempts since 6y 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

  • Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
Recommended offer $330,000 (18.5% 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. 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. 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 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
0.81%
Cap rate
5.72%
Cash-on-cash
-2.03%
DSCR
0.91
GRM
10.2

CMA / ARV

ARV (median comp)
$501,603
List price
$405,000
Delta
-19.26%
Verdict
UNDERPRICED
Comps
20 within 1.0 mi
Show comp detail 7 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
9204 Jutland Rd Unit A/B 0.28mi 6/3.0 2,594 (+6%) 15mo $530,000 $204 61
9208 Jutland St Unit A/B 0.27mi 6/3.0 2,593 (+6%) 17mo $530,000 $204 60
9212 Jutland 0.26mi 6/3.0 2,594 (+6%) 18mo $530,000 $204 60
4645 Larkspur St 0.55mi 6/— 2,300 (-6%) 17mo $449,900 $196 49
4131 Mallow St Unit A-B 0.96mi 6/2.0 2,500 (+2%) 19mo $490,000 $196 38
4133 Mallow St Unit A-B 0.96mi 5/3.0 (-1) 2,500 (+2%) 21mo $479,900 $192 36
3614 Dawson Ln Unit A/B 1.12mi 6/2.0 2,848 (+16%) 20mo $420,000 $147 15

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
-19.6%
Equity multiple
0.31×
Total profit
$-77,798
Equity at exit
$60,387
10-year hold
IRR
-12.4%
Equity multiple
0.27×
Total profit
$-83,277
Equity at exit
$35,017

Cash invested: $113,400 (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.

Active competition Active MLS

For sale now
15 active · 6 under contract
Median asking
$479,900 ($185/sqft)
Median days on market
73 d
This list price
13% of active listings are priced below it
ARV vs active asking
+10.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77033

Home prices YoY
-16.3%
Active inventory
426
Price-to-rent
20.5×

Monthly cashflow live

Estimated rent
$3,300 high interval (Pro) →
Mortgage (P&I)
$2,124
Tax est. 1.5%
$506 /mo · $6,075/yr
Insurance
$169
HOA
$0
Vacancy / Maint / Mgmt
$693
Net cashflow
$-192

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

UnitsBedsBathsEst. rent
Total (2 units) $3,300

Break-even live

Break-even rent $3,543
Max offer price $377,237
Occupancy floor

Sensitivity live

Price -10% $88 -5% $-52 +0% $-192 +5% $-332 +10% $-472
Rent -10% $-453 -5% $-322 +0% $-192 +5% $-62 +10% $69
Rate -1.0pp $12 -0.5pp $-89 base $-192 +0.5pp $-297 +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
$101,250
Closing costs
$12,150
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
4818 Paula St Unit A Houston, TX 3.0 2.0 $1,650 93d 1 0.03mi
4805 Paula St Houston, TX 3.0 2.5 $2,195 34d 1 0.03mi
4805 Paula St Unit B Houston, TX 3.0 2.5 $2,399 93d 1 0.03mi
4810 Wilmington St Unit A Houston, TX 3.0 2.0 $1,650 32d 1 0.05mi
4810 Wilmington St Unit A Houston, TX 3.0 2.0 1165 $1,650 $1.42 93d 1 0.05mi
4814 Wilmington St Unit A Houston, TX 3.0 3.0 $1,850 16d 1 0.05mi
4834 Higgins St Unit B Houston, TX 3.0 2.0 $3,500 73d 1 0.08mi
4834 Higgins St Unit A Houston, TX 3.0 2.0 $1,850 37d 1 0.08mi
4837 Paula St Unit A Houston, TX 3.0 2.0 $1,700 21d 1 0.09mi
4902 Higgins St Unit B Houston, TX 3.0 2.0 $3,500 93d 1 0.10mi
9313 Coffee St Houston, TX 4.0 2.0 $1,600 57d 1 0.11mi
4918 Wilmington St Unit A Houston, TX 3.0 3.0 1300 $2,100 $1.62 93d 1 0.14mi
4801 Wenda St Unit B Houston, TX 3.0 2.0 $1,792 73d 1 0.14mi
9320 Coffee St Unit B Houston, TX 3.0 2.5 $2,350 93d 1 0.15mi
4804 Carmen St Unit B Houston, TX 3.0 2.5 $2,000 93d 1 0.15mi
4923 Paula St Apt 2 Houston, TX 2.0 1.0 672 $1,095 $1.63 52d 1 0.15mi
4923 Paula St Apt 2 Houston, TX 2.0 1.0 672 $1,095 $1.63 43d 1 0.15mi
4732 Carmen St Unit B Houston, TX 3.0 2.5 $1,949 25d 1 0.16mi
4921a Pederson St Unit A Houston, TX 3.0 2.0 1765 $2,150 $1.22 62d 1 0.17mi
4720 Carmen St Unit A Houston, TX 2.0 1.0 $825 25d 1 0.19mi
4718 Carmen St Unit B Houston, TX 2.0 1.0 $795 2d 1 0.20mi
9311 Jutland Rd Houston, TX 3.0 2.5 $2,000 70d 1 0.24mi
9309 Jutland Rd Houston, TX 3.0 2.5 $2,000 73d 1 0.24mi
9307 Jutland Rd Houston, TX 3.0 2.5 $2,000 9d 1 0.24mi
5012 Higgins St Unit B Houston, TX 3.0 2.5 1611 $1,650 $1.02 73d 1 0.25mi
5010 Carmen St Houston, TX 2.0 1.0 672 $1,095 $1.63 93d 1 0.27mi
9106 Coffee St Unit A Houston, TX 3.0 3.0 $2,300 29d 1 0.31mi
5038 Carmen St Apt 1 Houston, TX 2.0 1.0 672 $1,095 $1.63 43d 1 0.31mi
5038 Carmen St Apt 1 Houston, TX 2.0 1.0 672 $1,095 $1.63 52d 1 0.31mi
4753 Mallow St Unit c Houston, TX 2.0 1.0 $900 0d 1 0.35mi
4710 Mallow St Unit B Houston, TX 2.0 2.5 $1,850 30d 1 0.35mi
4710 Mallow St Unit B Houston, TX 2.0 2.5 $2,050 71d 1 0.35mi
4903 Mallow St Unit A Houston, TX 2.0 2.5 $2,350 93d 1 0.36mi
4723 Mallow St Unit B Houston, TX 3.0 2.5 $1,850 16d 1 0.37mi
4723 Mallow St Unit B Houston, TX 3.0 2.5 1472 $1,850 $1.26 42d 1 0.37mi
4713 Mallow St Apt C Houston, TX 2.0 2.5 $1,875 1d 1 0.38mi
5101 Rue St Unit B Houston, TX 3.0 2.0 $1,625 93d 1 0.39mi
4834 Clover St Houston, TX 3.0 2.0 $1,700 93d 1 0.39mi
4661 Phlox St Unit A Houston, TX 3.0 3.5 $3,000 7d 1 0.39mi
5122 Higgins St Houston, TX 3.0 2.0 $1,600 47d 1 0.39mi

Property features AI

Finance

Other
Financial info
HOA & community

Exterior

Parking
Security
Fire alarm
Utilities
Cable availableElectricity availableNatural gas availableWater available
Home design
Residential income propertyBuilt in 2021
Construction
Cement sidingComposition roofBuilding area approximately 2,458
Exterior features
Partial fencingSubdivision lot

Interior

Kitchen
DishwasherDisposalMicrowave
Bedrooms
Unit 1: 3 bedroomsTwo total dwelling units
Flooring
PlankTileVinyl
Bathrooms
2 full bathrooms
Heating & cooling
Central heating (gas)Central air conditioningElectric cooling
Interior features
Window treatmentsWindow coverings
Laundry & utility
Washer hookupDryer hookup

Listing history 50 events

  1. 2026-08-08
    days on market $405,000 Active 19 DOM
  2. 2026-08-06
    days on market $405,000 Active 17 DOM
  3. 2026-08-05
    days on market $405,000 Active 16 DOM
  4. 2026-08-04
    days on market $405,000 Active 15 DOM
  5. 2026-08-03
    days on market $405,000 Active 14 DOM
  6. 2026-07-31
    days on market $405,000 Active 11 DOM
  7. 2026-07-30
    days on market $405,000 Active 10 DOM
  8. 2026-07-30
    days on market $405,000 Active 9 DOM
  9. 2026-07-28
    days on market $405,000 Active 8 DOM
  10. 2026-07-26
    days on market $405,000 Active 6 DOM
  11. 2026-07-24
    days on market $405,000 Active 4 DOM
  12. 2026-07-23
    days on market $405,000 Active 3 DOM
  13. 2026-07-22
    days on market $405,000 Active 2 DOM
  14. 2026-07-21
    remarks 679-char remark
  15. 2026-07-21
    days on marketlisting id $405,000 Active 1 DOM
  16. 2026-07-18
    days on market $405,000 Active 111 DOM
  17. 2026-07-18
    days on market $405,000 Active 110 DOM
  18. 2026-07-16
    days on market $405,000 Active 109 DOM
  19. 2026-07-15
    days on market $405,000 Active 108 DOM
  20. 2026-07-14
    days on market $405,000 Active 107 DOM
  21. 2026-07-13
    days on market $405,000 Active 106 DOM
  22. 2026-07-11
    days on market $405,000 Active 104 DOM
  23. 2026-07-10
    days on market $405,000 Active 103 DOM
  24. 2026-07-09
    days on market $405,000 Active 102 DOM
  25. 2026-07-08
    price $405,000 Active 100 DOM
  26. 2026-07-07
    days on market $414,000 Active 100 DOM
  27. 2026-07-06
    days on market $414,000 Active 99 DOM
  28. 2026-07-06
    days on market $414,000 Active 98 DOM
  29. 2026-07-05
    days on market $414,000 Active 97 DOM
  30. 2026-07-03
    days on market $414,000 Active 96 DOM
  31. 2026-07-02
    days on market $414,000 Active 95 DOM
  32. 2026-07-01
    days on market $414,000 Active 94 DOM
  33. 2026-06-30
    days on market $414,000 Active 93 DOM
  34. 2026-06-30
    days on market $414,000 Active 92 DOM
  35. 2026-06-28
    days on market $414,000 Active 91 DOM
  36. 2026-06-27
    days on market $414,000 Active 90 DOM
  37. 2026-06-26
    days on market $414,000 Active 89 DOM
  38. 2026-06-24
    days on market $414,000 Active 87 DOM
  39. 2026-06-22
    days on market $414,000 Active 85 DOM
  40. 2026-06-21
    days on market $414,000 Active 84 DOM
  41. 2026-06-18
    days on market $414,000 Active 81 DOM
  42. 2026-06-18
    days on market $414,000 Active 80 DOM
  43. 2026-06-13
    days on market $414,000 Active 79 DOM
  44. 2026-06-10
    days on market $414,000 Active 75 DOM
  45. 2026-06-08
    days on market $414,000 Active 74 DOM
  46. 2026-06-07
    days on market $414,000 Active 73 DOM
  47. 2026-06-04
    days on market $414,000 Active 70 DOM
  48. 2026-06-01
    remarks 641-char remark
  49. 2026-06-01
    pricedays on market $414,000 Active 67 DOM
  50. 2026-05-31
    days on market $415,000 Active 66 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 3/10 Moderate FEMA zone X (shaded) · 12% chance over 30 yrs
  • 🔥 Wildfire 1/10 Low
  • 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 23 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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$39,600
− Mortgage interest
−$22,686
− Property taxes
−$6,075
− Insurance
−$2,025
− Repairs & maintenance
−$3,168
− Management
−$3,168
− Depreciation
−$11,782
Taxable loss
−$9,304
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$2,233
After-tax cash flow
$-69/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 · 14 photos

Excellent 95/100 None rehab

This multi-family property is in excellent condition with modern amenities and a well-maintained exterior. Minor updates to the exterior and interior paint could further enhance its appeal.

Value-add opportunities

  • Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics, attracting more potential buyers or renters.
  • Both Landscaping improvements — Well-maintained landscaping can improve the home's curb appeal and add value for both resale and rental.
F Composite school gradezoned avg 16/100

Zoned Schools

Elementary Woodson School F TX #3,583/4,322 Nat'l #33,738/41,679 Middle Thomas Middle F TX #1,654/1,662 Nat'l #13,582/14,009 High Sterling H S F TX #1,377/1,632 Nat'l #13,899/17,239

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
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)
29,154
Household income
$38,071
Rent vs Own
41.0% rent · 59.0% own
Severe rent burden
19% of renters

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 (55%)
Race & ethnicity
Black 55% Hispanic / Latino 43% Two or more races 17% Native American 1%
Hispanic origin (detail)
Mexican 35%
Common ancestry
Lithuanian 1%
Foreign-born
18% · Canada
Languages at home
61% English-only · Spanish 39%

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

Price history

+800.0% since first listed
9 events — show timeline
  • 2026-07-20 Listed $405,000 HARMLS
  • 2026-07-18 Listing Removed HARMLS
  • 2026-07-07 Price Changed $405,000 HARMLS
  • 2026-06-17 Relisted HARMLS
  • 2026-06-14 Listing Removed HARMLS
  • 2026-06-01 Price Changed $414,000 HARMLS
  • 2026-03-26 Listed $415,000 HARMLS
  • 2020-07-18 Listing Removed HARMLS
  • 2020-03-21 Listed $45,000 HARMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…