7438 Bywood St · Houston, TX 77028

$159,900

3 bd · 1.0 ba · 832 sqft · SingleFamily public records · 35 Days on market

Built 1942 7,801 sqft lot $192/sqft · 29% above area Est $124k · 29% over

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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 +20.1/30.0
• Appreciation +7.6/10.0
• DSCR +6.4/10.0
• 1% rule +5.8/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Charming home with excellent potential for homeowners or investors! This property has been undergoing updates and already features several recent improvements, including a new roof, new water heater, central A/C system, and a new front fence for added privacy. Home offers a spacious layout and large yard with room for outdoor enjoyment or future improvements. Property has also undergone recent tree removal and yard clean-up improvements. Property may still need some TLC in areas such as the bathroom, paint, and flooring, making it a great opportunity to personalize and add value. Price reflects current condition and potential. Gas system has undergone an approved City of Houston inspection. Conveniently located with easy access to 610, major roads, shopping, and schools. Ideal opportunity for investors, rental portfolio buyers, or homeowners ready to customize a property to their style. Schedule your showing with your REALTOR® today!

Key facts

• New water heater
• Large yard
• New front fence

Tags

• NEW ROOF
• NEW WATER HEATER
• CENTRAL A/C SYSTEM
• NEW FRONT FENCE
• LARGE YARD
• RECENT TREE REMOVAL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% 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: 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 soft (-1.6%/yr); 354 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $1,719/mo this rent would consume 54% of the median local household income ($38k/yr) (locally 1177% 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 $9k of equity ($1k loan paydown + $8k appreciation (5.2% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.2% appreciation + 0.0% rent growth), your $45k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 6y ago; this cycle's ask is 13281% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1942 — 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 $155,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1942 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.08% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.32%
• DSCR: 1.24
• GRM: 7.7

CMA / ARV

• ARV (median comp): $123,730
• List price: $159,900
• Delta: 29.23%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7516 Weyburn St	0.12mi	3/1.0	888 (+7%)	15mo	$98,000	$110	70
7605 Delavan Dr	0.35mi	2/1.0 (-1)	806 (-3%)	10mo	$144,900	$180	65
7828 Homewood Ln	0.64mi	3/1.0	925 (+11%)	4mo	$140,000	$151	48
7934 Laura Koppe Rd	0.74mi	3/2.0	775 (-7%)	12mo	$145,000	$187	40
6916 Orville St	0.61mi	2/1.0 (-1)	928 (+12%)	13mo	$154,999	$167	37

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

Projected returns pro-forma

5.25% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 16.5%
• Equity multiple: 2.04×
• Total profit: $46,754
• Equity at exit: $93,002

10-year hold

• IRR: 15.5%
• Equity multiple: 3.70×
• Total profit: $120,911
• Equity at exit: $162,521

Cash invested: $44,772 (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 77028

• Home prices YoY: 2.0%
• Rents YoY: -1.6%
• Active inventory: 354
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,719 high
• Mortgage (P&I): −$839
• Tax from tax record: −$255 /mo · $3,058/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $198

Break-even live

Break-even rent $1,468

Max offer price $159,900

Occupancy floor 83%

Sensitivity live

Price	-10% $289	-5% $244	+0% $198	+5% $153	+10% $108
Rent	-10% $63	-5% $130	+0% $198	+5% $266	+10% $334
Rate	-1.0pp $279	-0.5pp $239	base $198	+0.5pp $157	+1.0pp $115

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8015 Elbert St Unit A Houston, TX	2.0	2.0	1021	$1,650	$1.62	8d	1	0.13mi
7973 Ritz St Houston, TX	3.0	2.0	1076	$2,250	$2.09	8d	1	1.06mi
7201 Hallshire Dr Houston, TX	2.0	1.0	985	$740	$0.75	44d	1	1.07mi
7201 Hallshire Dr Unit 235 Houston, TX	3.0	1.0	1100	$850	$0.77	44d	1	1.07mi
7201 Hallshire Dr Unit 222 Houston, TX	2.0	1.0	985	$700	$0.71	44d	1	1.07mi
9550 N Wayside Dr Houston, TX	1.0–3.0	1.0–2.0	896	$1,399	$1.56	2d	5	1.15mi
7947 Henson St Houston, TX	3.0	2.0	1090	$1,349	$1.24	6d	1	1.20mi
8309 Carolwood Dr Houston, TX	3.0	1.0	938	$1,350	$1.44	44d	1	1.22mi
7252 Parker Rd Houston, TX	3.0	1.0	916	$1,650	$1.80	44d	1	1.46mi

Listing history 42 events

1. 2026-06-21
   days on market $159,900 Active 35 DOM
2. 2026-06-18
   days on market $159,900 Active 32 DOM
3. 2026-06-17
   days on market $159,900 Active 31 DOM
4. 2026-06-16
   days on market $159,900 Active 30 DOM
5. 2026-06-15
   days on market $159,900 Active 29 DOM
6. 2026-06-13
   days on market $159,900 Active 27 DOM
7. 2026-06-10
   days on market $159,900 Active 23 DOM
8. 2026-06-08
   days on market $159,900 Active 22 DOM
9. 2026-06-07
   days on market $159,900 Active 21 DOM
10. 2026-06-04
    days on market $159,900 Active 18 DOM
11. 2026-06-01
    days on market $159,900 Active 15 DOM
12. 2026-05-31
    days on market $159,900 Active 14 DOM
13. 2026-05-17
    listed $1,195

    Show marketing remark (957 chars)

    Charming home with excellent potential for homeowners or investors! This property has been undergoing updates and already features several recent improvements, including a new roof, new water heater, central A/C system, and a new front fence for added privacy. Home offers a spacious layout and large yard with room for outdoor enjoyment or future improvements. Property has also undergone recent tree removal and yard clean-up improvements. Property may still need some TLC in areas such as the bathroom, paint, and flooring, making it a great opportunity to personalize and add value. Price reflects current condition and potential. Gas system has undergone an approved City of Houston inspection. Conveniently located with easy access to 610, major roads, shopping, and schools. Ideal opportunity for investors, rental portfolio buyers, or homeowners ready to customize a property to their style. Schedule your showing with your REALTOR® today!

14. 2026-05-17
    listed $159,900 Active 957-char remark

    Show marketing remark (957 chars)

    Charming home with excellent potential for homeowners or investors! This property has been undergoing updates and already features several recent improvements, including a new roof, new water heater, central A/C system, and a new front fence for added privacy. Home offers a spacious layout and large yard with room for outdoor enjoyment or future improvements. Property has also undergone recent tree removal and yard clean-up improvements. Property may still need some TLC in areas such as the bathroom, paint, and flooring, making it a great opportunity to personalize and add value. Price reflects current condition and potential. Gas system has undergone an approved City of Houston inspection. Conveniently located with easy access to 610, major roads, shopping, and schools. Ideal opportunity for investors, rental portfolio buyers, or homeowners ready to customize a property to their style. Schedule your showing with your REALTOR® today!

15. 2026-05-02
    historical
16. 2026-02-16
    listed $159,900 Active
17. 2025-07-07
    historical
18. 2025-06-30
    historical $1,350
19. 2025-06-25
    listed $165,000 Active
20. 2025-06-21
    listed $1,350
21. 2021-05-20
    soldstatus
22. 2021-05-18
    soldstatus Sold
23. 2021-05-08
    status Option Pending
24. 2021-05-08
    status Pending
25. 2021-05-02
    listed $119,999 Active
26. 2021-04-05
    historical
27. 2021-02-10
    price $130,000
28. 2021-02-08
    status Active
29. 2021-01-29
    status Option Pending
30. 2020-12-08
    price $127,900
31. 2020-09-30
    listed $130,000 Active
32. 2020-07-08
    historical
33. 2020-06-12
    price $128,999
34. 2020-04-27
    price $131,000
35. 2020-04-18
    price $132,000
36. 2020-04-14
    price $133,000
37. 2020-04-06
    price $135,000
38. 2020-03-16
    price $137,000
39. 2020-03-03
    listed $142,000 Active
40. 2019-12-31
    soldstatus
41. 2016-05-19
    soldstatus
42. 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: $3,058 · $255/mo
• Projected year-2 tax: $3,058 · $255/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 ≥111°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: $20,633
• − Mortgage interest: −$8,957
• − Property taxes: −$3,058
• − Insurance: −$800
• − Repairs & maintenance: −$1,651
• − Management: −$1,651
• − Depreciation: −$4,652
• Taxable loss: −$134
• Est. tax savings @ 24.0%: +$32
• After-tax cash flow: $2,412/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): 19,109
• Household income: $38,357
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1177.0

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: Majority Black (57%)
• Race & ethnicity: Black 57% Hispanic / Latino 41% Two or more races 15% White 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 13% · Canada
• Languages at home: 61% English-only · Spanish 38%

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: ▲ 5.25%
• Current HPI: 267.7798
• Rent YoY: ▼ -1.55%
• 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

-99.2% since first listed

30 events — show timeline

• 2026-05-17 Listed for Rent $1,195 HARMLS
• 2026-05-17 Listed $159,900 HARMLS
• 2026-05-02 Listing Removed — HARMLS
• 2026-02-16 Listed $159,900 HARMLS
• 2025-07-07 Listing Removed — HARMLS
• 2025-06-30 Rental Removed $1,350 HARMLS
• 2025-06-25 Listed $165,000 HARMLS
• 2025-06-21 Listed for Rent $1,350 HARMLS
• 2021-05-20 Sold (Public Records) — Public Records
• 2021-05-18 Sold (MLS) — HARMLS
• 2021-05-08 Pending — HARMLS
• 2021-05-08 Pending — HARMLS
• 2021-05-02 Listed $119,999 HARMLS
• 2021-04-05 Listing Removed — HARMLS
• 2021-02-10 Price Changed $130,000 HARMLS
• 2021-02-08 Relisted — HARMLS
• 2021-01-29 Pending — HARMLS
• 2020-12-08 Price Changed $127,900 HARMLS
• 2020-09-30 Listed $130,000 HARMLS
• 2020-07-08 Listing Removed — HARMLS
• 2020-06-12 Price Changed $128,999 HARMLS
• 2020-04-27 Price Changed $131,000 HARMLS
• 2020-04-18 Price Changed $132,000 HARMLS
• 2020-04-14 Price Changed $133,000 HARMLS
• 2020-04-06 Price Changed $135,000 HARMLS
• 2020-03-16 Price Changed $137,000 HARMLS
• 2020-03-03 Listed $142,000 HARMLS
• 2019-12-31 Sold (Public Records) — Public Records
• 2016-05-19 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+5.5%/yr

Latest (2025): $3,058 · -1.3% YoY. Source: county tax records.