14506 Corpus Christi Street St #4 · Cloverleaf, TX 77015

$224,900

16 bd · None ba · 2,440 sqft · MultiFamily public records · 189 Days on market

Built 1982 5,610 sqft lot $92/sqft · 6% below area Est $240k · 6% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +10.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.2/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Opportunity knocks in East Houston with this flexible multi-unit property featuring four units each with 1 bedroom and 1 bathroom. Features include large living room, adjacent kitchen/ breakfast area and private bedroom with full bath. Ready for renovation, the space is a blank slate ready for your creative touch.

Key facts

• Private bedroom
• Large living room
• 5,610 sq ft lot

Tags

• LARGE LIVING ROOM
• PRIVATE BEDROOM

What this means for you Summary

Snapshot

• This is a 4 × 1-bed/1-bath units multifamily listed at $225k.

Deal economics

• At list price, monthly cash flow is $892 ($11k/yr) — positive. Per door: $223/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $225k).
• Recommended offer: $198k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% vs local median 3.9% in Cloverleaf — 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 63/100 on livability (#886 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime F, amenities F.
• Galena Park ISD (suburban): math 32% / reading 33% proficiency, ranked #578 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.8%/yr); 162 active listings in the ZIP; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,424/mo this rent would consume 71% of the median local household income ($58k/yr) (locally 1816% 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 $2k of loan paydown is wiped out by about $7k 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 189 days — a 12% lower offer ($198k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 19y ago; this cycle's ask has dropped $15k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% 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 $197,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
9. 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.
10. 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.
11. 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: 1.52% ✓
• Cap rate: 11.05%
• Cash-on-cash: 17.01%
• DSCR: 1.76
• GRM: 5.5

CMA / ARV

• ARV (median comp): $239,583
• List price: $224,900
• Delta: -6.13%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 4.5%
• Equity multiple: 1.17×
• Total profit: $10,570
• Equity at exit: $33,533

10-year hold

• IRR: 10.7%
• Equity multiple: 1.71×
• Total profit: $44,466
• Equity at exit: $19,445

Cash invested: $62,972 (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 77015

• Home prices YoY: -10.8%
• Rents YoY: -0.8%
• Active inventory: 162
• Price-to-rent: 21.9×

Monthly cashflow live

• Estimated rent: $3,424 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$539 /mo · $6,473/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$719
• Net cashflow: $892

Break-even live

Break-even rent $2,294

Max offer price $224,900

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$3,424
Total (4 units)			$3,424

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-05-06
   status Pending 315-char remark

   Show marketing remark (315 chars)

   Opportunity knocks in East Houston with this flexible multi-unit property featuring four units each with 1 bedroom and 1 bathroom. Features include large living room, adjacent kitchen/ breakfast area and private bedroom with full bath. Ready for renovation, the space is a blank slate ready for your creative touch.

2. 2026-04-01
   price $224,900 315-char remark

   Show marketing remark (315 chars)

   Opportunity knocks in East Houston with this flexible multi-unit property featuring four units each with 1 bedroom and 1 bathroom. Features include large living room, adjacent kitchen/ breakfast area and private bedroom with full bath. Ready for renovation, the space is a blank slate ready for your creative touch.

3. 2026-03-19
   status Active 315-char remark

   Show marketing remark (315 chars)

   Opportunity knocks in East Houston with this flexible multi-unit property featuring four units each with 1 bedroom and 1 bathroom. Features include large living room, adjacent kitchen/ breakfast area and private bedroom with full bath. Ready for renovation, the space is a blank slate ready for your creative touch.

4. 2026-03-02
   status Pending 315-char remark

   Show marketing remark (315 chars)

   Opportunity knocks in East Houston with this flexible multi-unit property featuring four units each with 1 bedroom and 1 bathroom. Features include large living room, adjacent kitchen/ breakfast area and private bedroom with full bath. Ready for renovation, the space is a blank slate ready for your creative touch.

5. 2025-12-16
   status Active 315-char remark

   Show marketing remark (315 chars)

   Opportunity knocks in East Houston with this flexible multi-unit property featuring four units each with 1 bedroom and 1 bathroom. Features include large living room, adjacent kitchen/ breakfast area and private bedroom with full bath. Ready for renovation, the space is a blank slate ready for your creative touch.

6. 2025-11-28
   status Pending 315-char remark

   Show marketing remark (315 chars)

   Opportunity knocks in East Houston with this flexible multi-unit property featuring four units each with 1 bedroom and 1 bathroom. Features include large living room, adjacent kitchen/ breakfast area and private bedroom with full bath. Ready for renovation, the space is a blank slate ready for your creative touch.

7. 2025-10-27
   status Active 315-char remark

   Show marketing remark (315 chars)

   Opportunity knocks in East Houston with this flexible multi-unit property featuring four units each with 1 bedroom and 1 bathroom. Features include large living room, adjacent kitchen/ breakfast area and private bedroom with full bath. Ready for renovation, the space is a blank slate ready for your creative touch.

8. 2025-10-06
   status Pending 315-char remark

   Show marketing remark (315 chars)

   Opportunity knocks in East Houston with this flexible multi-unit property featuring four units each with 1 bedroom and 1 bathroom. Features include large living room, adjacent kitchen/ breakfast area and private bedroom with full bath. Ready for renovation, the space is a blank slate ready for your creative touch.

9. 2025-09-02
   listed $239,900 Active 315-char remark

   Show marketing remark (315 chars)

   Opportunity knocks in East Houston with this flexible multi-unit property featuring four units each with 1 bedroom and 1 bathroom. Features include large living room, adjacent kitchen/ breakfast area and private bedroom with full bath. Ready for renovation, the space is a blank slate ready for your creative touch.

10. 2014-03-01
    historical
11. 2014-02-27
    soldstatus
12. 2013-03-01
    listed $125,000 Active
13. 2011-07-20
    soldstatus
14. 2011-05-02
    historical
15. 2011-01-05
    listed $125,000
16. 2011-01-02
    historical
17. 2010-09-10
    listed $122,000
18. 2010-05-09
    historical
19. 2010-02-08
    listed $144,500
20. 2009-12-30
    historical
21. 2009-09-24
    listed $144,500
22. 2007-04-09
    historical
23. 2007-02-06
    listed $129,500
24. 2006-08-31
    soldstatus
25. 1990-07-23
    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: $6,473 · $539/mo
• Projected year-2 tax: $6,473 · $539/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $41,088
• − Mortgage interest: −$12,598
• − Property taxes: −$6,473
• − Insurance: −$1,124
• − Repairs & maintenance: −$3,287
• − Management: −$3,287
• − Depreciation: −$6,543
• Taxable income: $7,775
• Est. tax owed @ 24.0%: −$1,866
• After-tax cash flow: $8,843/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: Galena Park ISD
• NCES district ID: 4820250
• Math proficiency: 32% ▼ -20.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $43,158
• Composite: 27.62/100
• National rank: #6927
• State rank: #578 of 826 in TX

Livability — Cloverleaf

• Score: 63/100
• State rank: #886
• US rank: #15938

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cloverleaf, TX
• County: Harris County · 4,702,590 people
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 58,415
• Household income: $57,753
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1816.0

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 Hispanic (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 54% Black 14% White 6% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 60% Cuban 2%
• Foreign-born: 33% · Canada, Vietnam
• Languages at home: 31% English-only · Spanish 68% Vietnamese 1%

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: ▼ -36.47%
• Current HPI: 300.1821
• 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

+73.7% since first listed

25 events — show timeline

• 2026-05-06 Pending — HARMLS
• 2026-04-01 Price Changed $224,900 HARMLS
• 2026-03-19 Relisted — HARMLS
• 2026-03-02 Pending — HARMLS
• 2025-12-16 Relisted — HARMLS
• 2025-11-28 Pending — HARMLS
• 2025-10-27 Relisted — HARMLS
• 2025-10-06 Pending — HARMLS
• 2025-09-02 Listed $239,900 HARMLS
• 2014-03-01 Listing Removed — HARMLS
• 2014-02-27 Sold (Public Records) — Public Records
• 2013-03-01 Listed $125,000 HARMLS
• 2011-07-20 Sold (Public Records) — Public Records
• 2011-05-02 Listing Removed — HARMLS
• 2011-01-05 Listed $125,000 HARMLS
• 2011-01-02 Listing Removed — HARMLS
• 2010-09-10 Listed $122,000 HARMLS
• 2010-05-09 Listing Removed — HARMLS
• 2010-02-08 Listed $144,500 HARMLS
• 2009-12-30 Listing Removed — HARMLS
• 2009-09-24 Listed $144,500 HARMLS
• 2007-04-09 Listing Removed — HARMLS
• 2007-02-06 Listed $129,500 HARMLS
• 2006-08-31 Sold (Public Records) — Public Records
• 1990-07-23 Sold (Public Records) — Public Records

Property tax history

+8.5%/yr

Latest (2025): $6,473 · +1.2% YoY. Source: county tax records.