4203 Allen St · Houston, TX 77007

$475,000

3 bd · 3.5 ba · 2,752 sqft · Townhouse public records · 12 Days on market

Built 2020 1,901 sqft lot Est $545k · 13% under $163/mo HOA · 3% of rent ↓ 3% 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 +18.6/30.0
• ARV discount +13.3/15.0
• 1% rule +6.5/10.0
• DSCR +5.8/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Last home left and we are throwing in all the furniture!! Close out pricing the time to buy is right now! Brand new Construction in the heart of Washington corridor. This beautiful 3 story showcases an open concept on the 2nd floor. Perfect for entertaining. Home features quartz countertops throughout. Custom cabinetry. GE appliances. All homes in the community open up to a private court yard

Key facts

• Upgraded doors
• Raised ceilings
• Corner patiohome

Tags

• CORNER PATIOHOME
• OPEN FLOORPLAN
• UPGRADED DOORS
• QUARTZ COUNTERTOPS
• RAISED CEILINGS
• ISLAND KITCHEN

Property features AI

Finance

• Financial info: Lease considered
• HOA & community: HOA managed by Houston HOA Management; Annual association fee; Association amenities include gated access; Association fee covers common areas and recreation facilities; Community features include curbs and gutters

Exterior

• Parking: Attached garage; 2 garage spaces; 2-car carport; Attached parking
• Security: Prewired for security; Security system owned; Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Residential property; 3 stories; Faces south; Full ownership; Entry level features distributed across multiple levels
• Construction: Built in 2020; Brick, cement siding, and stucco construction; Composition roof; Slab foundation; Built by Riverway Builders
• Exterior features: Balcony; Deck; Patio; Sprinkler/irrigation; Paved driveway; Backs to greenbelt/park; Side yard

Interior

• Kitchen: Kitchen on second level (20x12); Kitchen island; Pantry; Quartz counters; Gas cooktop; Gas oven; Gas range; Free-standing range; Convection oven; Oven; Microwave; Dishwasher; Disposal; Ice maker; Refrigerator; ENERGY STAR qualified appliances
• Bedrooms: Primary bedroom on third level (18x16); Bedroom on third level (16x12); Bedroom on first level (16x12); 3 possible bedrooms total
• Flooring: Carpet; Engineered hardwood; Laminate; Stone; Tile; Wood
• Bathrooms: 3 full bathrooms; 1 half bathroom; Primary bathroom on third level (14x12); Additional bathrooms on third, second, and first levels
• Heating & cooling: Central heating (gas, zoned); Central air conditioning (electric, zoned); Programmable thermostat
• Interior features: Breakfast bar; Balcony; Crown molding; Dry bar; Double vanity; High ceilings; Kitchen island; Kitchen/family room combo; Bath in primary bedroom; Pots & pan drawers; Pantry; Quartz counters; Soaking tub; Separate shower; Tub/shower; Wired for sound; Window treatments; Ceiling fan(s); Kitchen/dining combo; Living/dining room; Programmable thermostat; Insulated doors; Low emissivity windows; Window coverings; Convection oven; Dishwasher; Free-standing range; Gas cooktop; Disposal; Gas oven; Gas range; Ice maker; Microwave; Oven; ENERGY STAR qualified appliances; Refrigerator; Tankless water heater
• Laundry & utility: Utility room on third level (08x06); Tankless water heater

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath townhouse listed at $475k.

Deal economics

• At list price, monthly cash flow is $460 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $475k).
• Cap rate 7.5% 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: 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: Hogg Middle (math 44% / reading 48%, grade D+, #462 of 1,662 statewide, top 28%, 1,120 students, 52% FRL); Heights H S (math 27% / reading 57%, grade F, #730 of 1,632 statewide, top 47%, 2,476 students, 65% FRL).
• Zoned-school proficiency averages 44% at this address vs 31% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Houston ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-0.8%/yr); 646 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 51% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $5,485/mo this rent would consume 45% of the median local household income ($145k/yr) (locally 1812% 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 $14k 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 7y 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: property tax is 2.6% of price.
• 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 $475,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 7.45%
• Cash-on-cash: 4.15%
• DSCR: 1.18
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $544,896
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4022 Blossom St	0.30mi	3/3.5	2,631 (-4%)	5mo	$799,700	$304	75
4512 Inker St Unit A	0.35mi	4/3.5 (+1)	2,650 (-4%)	2mo	$525,000	$198	71
3934 Feagan St	0.41mi	4/3.5 (+1)	2,662 (-3%)	1mo	$525,000	$197	70
405 Reinerman St	0.72mi	3/3.5	2,714 (-1%)	3mo	$599,999	$221	62
414 Snover St	0.36mi	3/3.0	2,423 (-12%)	1mo	$539,900	$223	60
1317 Roy St	0.57mi	4/4.5 (+1)	2,776 (+1%)	3mo	$539,900	$194	60
3920 Blossom St	0.34mi	3/3.5	2,358 (-14%)	0mo	$449,000	$190	60
633 Hartman St	0.37mi	3/3.0	2,405 (-13%)	2mo	$399,000	$166	58
4301 Feagan St	0.41mi	3/3.5	2,400 (-13%)	4mo	$498,000	$208	56
5109 Feagan St	0.70mi	3/3.5	2,617 (-5%)	5mo	$564,999	$216	55
1511 Reinerman St	0.65mi	3/3.5	2,520 (-8%)	2mo	$439,000	$174	54
5208 Blossom St #5	0.71mi	3/3.5	2,340 (-15%)	0mo	$435,000	$186	42

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -13.7%
• Equity multiple: 0.52×
• Total profit: $-63,316
• Equity at exit: $70,824

10-year hold

• IRR: -11.6%
• Equity multiple: 0.42×
• Total profit: $-77,738
• Equity at exit: $41,069

Cash invested: $133,000 (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 77007

• Rents YoY: -0.8%
• Active inventory: 646
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $5,485 high
• Mortgage (P&I): −$2,491
• Tax from tax record: −$1,021 /mo · $12,258/yr
• Insurance: −$198
• HOA: −$163
• Vacancy / Maint / Mgmt: −$1,152
• Net cashflow: $460

Break-even live

Break-even rent $4,903

Max offer price $475,000

Occupancy floor 87%

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: $118,750
• Closing costs: $14,250
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1221 Bonner St Houston, TX	3.0	3.5	2252	$3,200	$1.42	43d	1	0.02mi
917 Thompson St Unit 917 Houston, TX	4.0	3.5	3200	$8,000	$2.50	24d	1	0.15mi
915 Thompson St Unit 915 Houston, TX	4.0	3.5	3200	$8,500	$2.66	24d	1	0.15mi
911 Thompson St #911 Houston, TX	4.0	3.5	3200	$8,500	$2.66	24d	1	0.16mi
913 Thompson St #913 Houston, TX	4.0	3.5	3200	$8,500	$2.66	24d	1	0.16mi
4444 Center St Houston, TX	3.0	3.0	2121	$3,200	$1.51	43d	1	0.17mi
4311 Marina St Houston, TX	3.0	4.0	2328	$3,599	$1.55	43d	1	0.27mi
4608 Nett St Houston, TX	3.0	4.0	2261	$3,750	$1.66	43d	1	0.29mi
4510 Inker St Houston, TX	4.0	4.0	2293	$4,500	$1.96	43d	1	0.34mi
5237 Center St Houston, TX	3.0	3.0	2284	$2,995	$1.31	43d	1	0.72mi
5305 Nett St Unit A Houston, TX	3.0	3.5	2104	$2,950	$1.40	24d	1	0.78mi
5108 Larkin St Houston, TX	3.0	3.5	2108	$2,850	$1.35	44d	1	0.79mi
3131 Memorial Ct Houston, TX	2.0	1.0–2.5	1336	$3,418	$2.56	2d	32	0.88mi
707 Marston St Unit 510 Houston, TX	3.0	2.0	2310	$12,482	$5.40	3d	1	0.88mi
5235 Petty St Unit B Houston, TX	3.0	2.5	2532	$3,000	$1.18	43d	1	0.95mi
5610 Schuler St Houston, TX	3.0	3.5	2614	$3,111	$1.19	5d	1	0.95mi
811 Buffalo Park Dr Unit 844 Houston, TX	3.0	2.0	3632	$14,913	$4.11	14d	1	0.96mi
811 Buffalo Park Dr Unit 3187 Houston, TX	3.0	2.0	3632	$15,392	$4.24	3d	1	0.96mi
811 Buffalo Park Dr Unit 510 Houston, TX	3.0	2.0	3632	$15,424	$4.25	11d	1	0.96mi
5336 Darling St Unit 1225767P Houston, TX	3.0	3.0	2292	$5,570	$2.43	7d	1	1.03mi
5811 Maxie St Houston, TX	3.0	3.5	2226	$3,000	$1.35	43d	1	1.08mi
1027 Gross St Houston, TX	4.0	3.5	3035	$5,800	$1.91	43d	1	1.08mi
2210 Radcliffe St Houston, TX	3.0	3.5	2066	$2,716	$1.31	7d	1	1.14mi
543 T C Jester Blvd Unit 1225766P Houston, TX	3.0	3.5	2389	$5,222	$2.19	16d	1	1.16mi
5427 Kansas St Houston, TX	3.0	4.0	2156	$2,700	$1.25	43d	1	1.19mi
710 Stanford St Houston, TX	3.0	4.0	2438	$3,490	$1.43	43d	1	1.22mi
929 Westcott St Houston, TX	1.0–3.0	1.0–3.0	1375	$9,263	$6.74	3d	22	1.24mi
1211 Marconi St Houston, TX	4.0	3.5	3020	$4,500	$1.49	43d	1	1.27mi
1118 Columbus St Unit A Houston, TX	3.0	3.5	2338	$3,000	$1.28	43d	1	1.28mi
1958 W Gray St Unit 1991 Houston, TX	3.0	2.0	3206	$15,050	$4.69	11d	1	1.29mi
1958 W Gray St Unit 3165 Houston, TX	3.0	2.0	3206	$15,018	$4.68	3d	1	1.29mi
5530 Kiam St Unit 1019540P Houston, TX	4.0	2.5	2680	$15,799	$5.90	43d	1	1.30mi
5530 Kiam St Houston, TX	4.0	2.5	2688	$9,750	$3.63	43d	1	1.30mi
5620 Petty St Houston, TX	4.0	3.5	2891	$8,750	$3.03	43d	1	1.35mi
5620 Petty St Unit 1019538P Houston, TX	4.0	3.5	2884	$16,259	$5.64	22d	1	1.35mi
1116 Woodland St Houston, TX	3.0	2.0	2400	$4,000	$1.67	43d	1	1.36mi
2018 Crockett St Unit 2018 Houston, TX	3.0	3.5	2514	$8,000	$3.18	43d	1	1.45mi
2018 Crockett St Unit 1029793P Houston, TX	3.0	3.5	2507	$6,482	$2.59	5d	1	1.45mi
5732 Darling St Unit 1056419P Houston, TX	3.0	3.5	2400	$7,771	$3.24	43d	1	1.48mi

HOA detail

• Monthly dues: $163 · $1,956/yr

Listing history 17 events

1. 2026-06-01
   days on market $475,000 Active 12 DOM
2. 2026-05-31
   days on market $475,000 Active 11 DOM
3. 2026-05-20
   listed $475,000 Active
4. 2023-05-10
   historical
5. 2023-04-14
   listed $550,000 Active
6. 2020-03-13
   soldstatus Sold 395-char remark

   Show marketing remark (395 chars)

   Last home left and we are throwing in all the furniture!! Close out pricing the time to buy is right now! Brand new Construction in the heart of Washington corridor. This beautiful 3 story showcases an open concept on the 2nd floor. Perfect for entertaining. Home features quartz countertops throughout. Custom cabinetry. GE appliances. All homes in the community open up to a private court yard

7. 2020-02-11
   status Pending 395-char remark

   Show marketing remark (395 chars)

   Last home left and we are throwing in all the furniture!! Close out pricing the time to buy is right now! Brand new Construction in the heart of Washington corridor. This beautiful 3 story showcases an open concept on the 2nd floor. Perfect for entertaining. Home features quartz countertops throughout. Custom cabinetry. GE appliances. All homes in the community open up to a private court yard

8. 2020-01-15
   price $439,999 395-char remark

   Show marketing remark (395 chars)

   Last home left and we are throwing in all the furniture!! Close out pricing the time to buy is right now! Brand new Construction in the heart of Washington corridor. This beautiful 3 story showcases an open concept on the 2nd floor. Perfect for entertaining. Home features quartz countertops throughout. Custom cabinetry. GE appliances. All homes in the community open up to a private court yard

9. 2020-01-10
   listed $449,999 Active 395-char remark

   Show marketing remark (395 chars)

   Last home left and we are throwing in all the furniture!! Close out pricing the time to buy is right now! Brand new Construction in the heart of Washington corridor. This beautiful 3 story showcases an open concept on the 2nd floor. Perfect for entertaining. Home features quartz countertops throughout. Custom cabinetry. GE appliances. All homes in the community open up to a private court yard

10. 2019-11-01
    historical
11. 2019-10-15
    price $429,999
12. 2019-10-03
    listed $439,999 Active
13. 2019-08-02
    historical
14. 2019-06-22
    price $469,000
15. 2019-04-08
    listed $489,000 Active
16. 2019-02-22
    historical
17. 2019-01-18
    listed $489,000 Active

ⓘ 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: $12,258 · $1,021/mo
• Projected year-2 tax: $12,258 · $1,021/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $65,820
• − Mortgage interest: −$26,607
• − Property taxes: −$12,258
• − Insurance: −$2,375
• − Repairs & maintenance: −$5,266
• − Management: −$5,266
• − HOA: −$1,956
• − Depreciation: −$13,818
• Taxable loss: −$1,726
• Est. tax savings @ 24.0%: +$414
• After-tax cash flow: $5,931/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): 47,808
• Household income: $144,911
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 1812.0

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: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 57% Hispanic / Latino 17% Two or more races 13% Asian 11% Black 9%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 3% Romanian 3% Italian 3%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 12% Other Indo-European 4% Chinese 2%

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: ▼ -219.42%
• Current HPI: 159.8157
• Rent YoY: ▼ -0.83%
• 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

-2.9% since first listed

15 events — show timeline

• 2026-05-20 Listed $475,000 HARMLS
• 2023-05-10 Listing Removed — HARMLS
• 2023-04-14 Listed $550,000 HARMLS
• 2020-03-13 Sold (MLS) — HARMLS
• 2020-02-11 Pending — HARMLS
• 2020-01-15 Price Changed $439,999 HARMLS
• 2020-01-10 Listed $449,999 HARMLS
• 2019-11-01 Listing Removed — HARMLS
• 2019-10-15 Price Changed $429,999 HARMLS
• 2019-10-03 Listed $439,999 HARMLS
• 2019-08-02 Listing Removed — HARMLS
• 2019-06-22 Price Changed $469,000 HARMLS
• 2019-04-08 Listed $489,000 HARMLS
• 2019-02-22 Listing Removed — HARMLS
• 2019-01-18 Listed $489,000 HARMLS

Property tax history

+25.5%/yr

Latest (2025): $12,258 · -5.1% YoY. Source: county tax records.