8219 Corinth St · Houston, TX 77051

$425,000

8 bd · 4.0 ba · 3,000 sqft · MultiFamily · 61 Days on market

Built 1965 Fair condition 5,200 sqft lot $142/sqft · 27% below area Est $581k · 27% under ↓ 6% since listing

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Why this score? — see what drove the A- 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 +27.7/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.8/10.0
• 1% rule +7.6/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.2/5.0

Multi-family units

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

Listing remarks MLS

Investor Opportunity – Fully occupied 4-Unit Multifamily near UH/TSU & Texas Medical Center in Houston’s revitalizing 77011 corridor, offering immediate rental income with strong value-add potential through rent alignment and long-term appreciation. Situated on a corner lot in an area experiencing ongoing development and investment, each unit features a functional 2-bedroom, 1-bath layout (~750 SF), providing consistent tenant demand in an area with proximity to major employment and education hubs including UH/TSU, Texas Medical Center, Downtown Houston and NRG Stadium.

Key facts

• 4-unit multifamily
• Functional layout
• Ongoing development

Tags

• 4-UNIT MULTIFAMILY
• CORNER LOT
• IMMEDIATE RENTAL INCOME
• STRONG VALUE-ADD POTENTIAL
• ONGOING DEVELOPMENT
• FUNCTIONAL LAYOUT

🏷️ Possibly a rental listed for sale. The $425,000 price doesn't fit this home's estimated sale value (~$581,455) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 4 × 2-bed/1-bath units multifamily listed at $425k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $321/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $425k).
• Recommended offer: $400k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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: 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; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $5,343/mo this rent would consume 171% 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 $45k of equity ($3k loan paydown + $42k 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 $119k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$73k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($400k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $399,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
5. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.26% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.95%
• DSCR: 1.58
• GRM: 6.6

CMA / ARV

• ARV (median comp): $581,455
• List price: $425,000
• Delta: -26.91%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7906 Brandon St	0.30mi	8/6.0	3,200 (+7%)	9mo	$575,000	$180	60
4216 Sterling St Unit A/B	0.44mi	8/—	3,406 (+14%)	21mo	$560,000	$164	39

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: 34.6%
• Equity multiple: 3.71×
• Total profit: $323,001
• Equity at exit: $382,874

10-year hold

• IRR: 30.5%
• Equity multiple: 8.63×
• Total profit: $908,156
• Equity at exit: $825,682

Cash invested: $119,000 (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 77051

• Home prices YoY: 9.7%
• Rents YoY: 4.8%
• Active inventory: 312
• Price-to-rent: 26.5×

Monthly cashflow live

• Estimated rent: $5,343 high
• Mortgage (P&I): −$2,229
• Tax est. 1.5%: −$531 /mo · $6,375/yr
• Insurance: −$177
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,122
• Net cashflow: $1,284

Break-even live

Break-even rent $3,718

Max offer price $425,000

Occupancy floor 71%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$5,344
Total (4 units)			$5,343

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-18
   days on market $425,000 Active 61 DOM
2. 2026-06-17
   days on market $425,000 Active 60 DOM
3. 2026-06-16
   days on market $425,000 Active 59 DOM
4. 2026-06-15
   days on market $425,000 Active 58 DOM
5. 2026-06-13
   days on market $425,000 Active 56 DOM
6. 2026-06-10
   days on market $425,000 Active 52 DOM
7. 2026-06-08
   days on market $425,000 Active 51 DOM
8. 2026-06-07
   days on market $425,000 Active 50 DOM
9. 2026-06-04
   days on market $425,000 Active 47 DOM
10. 2026-06-01
    days on market $425,000 Active 44 DOM
11. 2026-05-31
    days on market $425,000 Active 43 DOM
12. 2026-05-01
    price $425,000 596-char remark

    Show marketing remark (596 chars)

    Investor Opportunity – Fully occupied 4-Unit Multifamily near UH/TSU & Texas Medical Center in Houston’s revitalizing 77011 corridor, offering immediate rental income with strong value-add potential through rent alignment and long-term appreciation. Situated on a corner lot in an area experiencing ongoing development and investment, each unit features a functional 2-bedroom, 1-bath layout (~750 SF), providing consistent tenant demand in an area with proximity to major employment and education hubs including UH/TSU, Texas Medical Center, Downtown Houston and NRG Stadium.

13. 2026-04-18
    listed $449,900 Active 596-char remark

    Show marketing remark (596 chars)

    Investor Opportunity – Fully occupied 4-Unit Multifamily near UH/TSU & Texas Medical Center in Houston’s revitalizing 77011 corridor, offering immediate rental income with strong value-add potential through rent alignment and long-term appreciation. Situated on a corner lot in an area experiencing ongoing development and investment, each unit features a functional 2-bedroom, 1-bath layout (~750 SF), providing consistent tenant demand in an area with proximity to major employment and education hubs including UH/TSU, Texas Medical Center, Downtown Houston and NRG Stadium.

14. 2026-04-18
    historical

    Show marketing remark (596 chars)

    Investor Opportunity – Fully occupied 4-Unit Multifamily near UH/TSU & Texas Medical Center in Houston’s revitalizing 77011 corridor, offering immediate rental income with strong value-add potential through rent alignment and long-term appreciation. Situated on a corner lot in an area experiencing ongoing development and investment, each unit features a functional 2-bedroom, 1-bath layout (~750 SF), providing consistent tenant demand in an area with proximity to major employment and education hubs including UH/TSU, Texas Medical Center, Downtown Houston and NRG Stadium.

15. 2026-01-24
    listed $449,900 Active

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $64,116
• − Mortgage interest: −$23,807
• − Property taxes: −$6,375
• − Insurance: −$2,125
• − Repairs & maintenance: −$5,129
• − Management: −$5,129
• − Depreciation: −$12,364
• Taxable income: $9,187
• Est. tax owed @ 24.0%: −$2,205
• After-tax cash flow: $13,202/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 · 10 photos

Fair 45/100 Moderate rehab

This 4-unit multifamily property requires moderate repairs and updates to improve its condition and value. Painting, updating bathrooms, and landscaping would significantly enhance its curb appeal and attract more tenants.

Repairs flagged

• Moderate countertops — worn and need replacement
• Moderate bathroom fixtures — dated and need updating
• Moderate paint — scuff marks and need touch-up

Value-add opportunities

• Both painting and updating bathrooms — enhances curb appeal and interior aesthetics
• Both landscaping and curb appeal improvements — enhances curb appeal and makes the property more attractive
• Both upgrading countertops and fixtures — improves functionality and aesthetics, attracting more tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
countertops · worn and need replacement	Moderate	$3,000–15,000
bathroom fixtures · dated and need updating	Moderate	$3,000–15,000
paint · scuff marks and need touch-up	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both painting and updating bathrooms — enhances curb appeal and interior aesthetics ↑
• Both landscaping and curb appeal improvements — enhances curb appeal and makes the property more attractive ↑
• Both upgrading countertops and fixtures — improves functionality and aesthetics, attracting more tenants ↑

ⓘ 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): 19,795
• 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

-5.5% since first listed

4 events — show timeline

• 2026-05-01 Price Changed $425,000 HARMLS
• 2026-04-18 Listing Removed — HARMLS
• 2026-04-18 Listed $449,900 HARMLS
• 2026-01-24 Listed $449,900 HARMLS