8205 Carver Rd · Houston, TX 77088

$460,000

6 bd · 5.0 ba · 2,984 sqft · MultiFamily public records · 42 Days on market

Built 2024 7,300 sqft lot $154/sqft · at area comps Est $468k · at est.

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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).

• Cash flow +13.9/30.0
• ARV discount +8.3/15.0
• DSCR +4.2/10.0
• Livability +3.7/5.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

Prime Investment Opportunity: Partially Developed Lot with Unfinished Duplex Welcome to a remarkable real estate opportunity located in the heart of [Neighborhood/City], perfect for investors or builders ready to complete a promising project. This partially developed lot features an unfinished duplex, offering the chance to customize and complete the build to your specifications. This lot offers a head start on a lucrative investment, with much of the initial groundwork already completed. Whether you’re looking to finish and rent out both units or sell for a profit, this property holds immense potential. Don’t miss out on this rare opportunity to invest in a developing area with promising returns. Don't miss your opportunity to view and explore the possibilities that await you with this partially developed lot and unfinished duplex!

Key facts

• 7,300 sq ft lot
• Garage
• Built 2024

Property features AI

Finance

• Other: Owner is listing agent

Exterior

• Parking: Garage with garage door opener
• Home design: Residential income property; Built in 2024
• Construction: Cement siding; Composition roof; Approximately 2,984 total building area
• Exterior features: 7300 sq ft lot

Interior

• Kitchen: Dishwasher; Disposal; Microwave
• Bedrooms: Two total residential units
• Flooring: Laminate flooring; Carpet
• Bathrooms: Four full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Dishwasher; Disposal; Microwave

What this means for you Summary

Snapshot

• This is a 2 × 3.0-bed/2.5-bath units multifamily listed at $460k.

Deal economics

• At list price, monthly cash flow is $47 ($567/yr) — positive. Per door: $24/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $392k (14.7% below list).
• Recommended offer: $392k (14.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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.
• Aldine ISD (suburban): math 16% / reading 21% proficiency, ranked #790 of 826 in TX (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Anderson Academy (math 18% / reading 16%, grade F, #3,836 of 4,322 statewide, top 91%, 677 students, 94% FRL); Drew Academy (math 14% / reading 28%, grade F, #1,387 of 1,662 statewide, top 85%, 382 students, 91% FRL); Carver H S For Applied Tech/Engineering/Arts (math 25% / reading 32%, grade F, #1,157 of 1,632 statewide, top 72%, 755 students, 86% FRL).
• Market conditions: Rents soft (-1.0%/yr); 471 active listings in the ZIP; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,923/mo this rent would consume 87% of the median local household income ($54k/yr) (locally 2294% 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

• It's been on market 42 days — a 3% lower offer ($446k) is reasonable based on typical stale-listing flexibility.
• 7 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

• Climate carrying-cost: major flood risk; 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 $392,300 (14.7% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 15% 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. 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: 0.85% ✗
• Cap rate: 6.42%
• Cash-on-cash: 0.44%
• DSCR: 1.02
• GRM: 9.8

CMA / ARV

• ARV (median comp): $468,333
• List price: $460,000
• Delta: -1.78%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8021 Carver Rd	0.11mi	6/4.0	2,640 (-12%)	8mo	$469,777	$178	66
8215 Moon Beam St	0.07mi	6/2.0	3,055 (+2%)	20mo	$534,900	$175	64
7517 Hezekiah Ln	0.40mi	6/3.0	3,056 (+2%)	15mo	$539,000	$176	57
8418 Observatory St	0.18mi	6/2.0	2,774 (-7%)	19mo	$485,000	$175	52
2206 Dolly Wright St	0.58mi	6/3.0	2,774 (-7%)	16mo	$490,000	$177	40
2009 Wavell St	0.64mi	5/2.0 (-1)	3,200 (+7%)	23mo	$493,900	$154	22

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: -18.9%
• Equity multiple: 0.36×
• Total profit: $-83,044
• Equity at exit: $68,587

10-year hold

• IRR: -18.7%
• Equity multiple: 0.12×
• Total profit: $-112,943
• Equity at exit: $39,772

Cash invested: $128,800 (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 77088

• Home prices YoY: -23.2%
• Rents YoY: -1.0%
• Active inventory: 471
• Price-to-rent: 19.5×

Monthly cashflow live

• Estimated rent: $3,923 high
• Mortgage (P&I): −$2,412
• Tax from tax record: −$448 /mo · $5,375/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$824
• Net cashflow: $47

Break-even live

Break-even rent $3,863

Max offer price $460,000

Occupancy floor 94%

Sensitivity live

Price	-10% $308	-5% $177	+0% $47	+5% $-83	+10% $-213
Rent	-10% $-263	-5% $-108	+0% $47	+5% $202	+10% $357
Rate	-1.0pp $279	-0.5pp $164	base $47	+0.5pp $-72	+1.0pp $-193

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

Units	Beds	Baths	Est. rent
▸ 2× units	3.0	2.5	$3,922
Total (2 units)			$3,923

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: $115,000
• Closing costs: $13,800
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-13
   statusdays on market $460,000 Pending 42 DOM
2. 2026-06-09
   days on market $460,000 Active 41 DOM
3. 2026-06-08
   days on market $460,000 Active 40 DOM
4. 2026-06-07
   days on market $460,000 Active 39 DOM
5. 2026-06-04
   days on market $460,000 Active 36 DOM
6. 2026-06-03
   days on market $460,000 Active 35 DOM
7. 2026-06-02
   days on market $460,000 Active 34 DOM
8. 2026-06-01
   days on market $460,000 Active 33 DOM
9. 2026-05-31
   days on market $460,000 Active 32 DOM
10. 2026-04-29
    listed $460,000 Active 392-char remark
11. 2026-04-04
    historical $1,850
12. 2026-04-02
    listed $1,850
13. 2026-04-01
    historical $1,850
14. 2026-03-25
    historical $1,850
15. 2026-03-14
    listed $1,850
16. 2026-02-17
    price $1,850
17. 2026-01-30
    price $1,900
18. 2026-01-01
    historical $2,000
19. 2025-12-25
    listed $2,000
20. 2025-12-12
    price $2,000
21. 2025-12-02
    listed $2,200
22. 2024-08-08
    soldstatus
23. 2024-08-05
    soldstatus Sold 859-char remark

    Show marketing remark (859 chars)

    Prime Investment Opportunity: Partially Developed Lot with Unfinished Duplex Welcome to a remarkable real estate opportunity located in the heart of [Neighborhood/City], perfect for investors or builders ready to complete a promising project. This partially developed lot features an unfinished duplex, offering the chance to customize and complete the build to your specifications. This lot offers a head start on a lucrative investment, with much of the initial groundwork already completed. Whether you’re looking to finish and rent out both units or sell for a profit, this property holds immense potential. Don’t miss out on this rare opportunity to invest in a developing area with promising returns. Don't miss your opportunity to view and explore the possibilities that await you with this partially developed lot and unfinished duplex!

24. 2024-08-05
    soldstatus

    Show marketing remark (859 chars)

    Prime Investment Opportunity: Partially Developed Lot with Unfinished Duplex Welcome to a remarkable real estate opportunity located in the heart of [Neighborhood/City], perfect for investors or builders ready to complete a promising project. This partially developed lot features an unfinished duplex, offering the chance to customize and complete the build to your specifications. This lot offers a head start on a lucrative investment, with much of the initial groundwork already completed. Whether you’re looking to finish and rent out both units or sell for a profit, this property holds immense potential. Don’t miss out on this rare opportunity to invest in a developing area with promising returns. Don't miss your opportunity to view and explore the possibilities that await you with this partially developed lot and unfinished duplex!

25. 2024-07-26
    status Pending 859-char remark

    Show marketing remark (859 chars)

    Prime Investment Opportunity: Partially Developed Lot with Unfinished Duplex Welcome to a remarkable real estate opportunity located in the heart of [Neighborhood/City], perfect for investors or builders ready to complete a promising project. This partially developed lot features an unfinished duplex, offering the chance to customize and complete the build to your specifications. This lot offers a head start on a lucrative investment, with much of the initial groundwork already completed. Whether you’re looking to finish and rent out both units or sell for a profit, this property holds immense potential. Don’t miss out on this rare opportunity to invest in a developing area with promising returns. Don't miss your opportunity to view and explore the possibilities that await you with this partially developed lot and unfinished duplex!

26. 2024-07-26
    listed $160,000 Active 859-char remark

    Show marketing remark (859 chars)

    Prime Investment Opportunity: Partially Developed Lot with Unfinished Duplex Welcome to a remarkable real estate opportunity located in the heart of [Neighborhood/City], perfect for investors or builders ready to complete a promising project. This partially developed lot features an unfinished duplex, offering the chance to customize and complete the build to your specifications. This lot offers a head start on a lucrative investment, with much of the initial groundwork already completed. Whether you’re looking to finish and rent out both units or sell for a profit, this property holds immense potential. Don’t miss out on this rare opportunity to invest in a developing area with promising returns. Don't miss your opportunity to view and explore the possibilities that await you with this partially developed lot and unfinished duplex!

27. 2019-11-18
    soldstatus
28. 2019-11-04
    soldstatus Sold

    Show marketing remark (105 chars)

    Beautiful lot for building your dream home. Great price for location. Nice homes nearby. Won't last long.

29. 2019-10-28
    status Pending

    Show marketing remark (105 chars)

    Beautiful lot for building your dream home. Great price for location. Nice homes nearby. Won't last long.

30. 2019-04-30
    listed $35,000 Active

    Show marketing remark (105 chars)

    Beautiful lot for building your dream home. Great price for location. Nice homes nearby. Won't last long.

31. 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: $5,375 · $448/mo
• Projected year-2 tax: $8,418 · $702/mo
• Expected delta: +$3,043/yr (+$254/mo · 56.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% 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 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $47,076
• − Mortgage interest: −$25,767
• − Property taxes: −$5,375
• − Insurance: −$2,300
• − Repairs & maintenance: −$3,766
• − Management: −$3,766
• − Depreciation: −$13,382
• Taxable loss: −$7,280
• Est. tax savings @ 24.0%: +$1,747
• After-tax cash flow: $2,315/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: Aldine ISD
• NCES district ID: 4807710
• Math proficiency: 16% ▼ -23.00%
• Reading proficiency: 21% ▼ -11.00%
• Median HH income: $37,081
• Composite: 15.42/100
• National rank: #9317
• State rank: #790 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): 57,047
• Household income: $54,411
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 2294.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 52% Black 37% Two or more races 18% White 6% Asian 4%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Lithuanian 1%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 49% English-only · Spanish 47% Vietnamese 3%

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: ▼ -98.37%
• Current HPI: 325.0499
• Rent YoY: ▼ -1.01%
• 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

+1214.3% since first listed

23 events — show timeline

• 2026-06-11 Pending — HARMLS
• 2026-04-29 Listed $460,000 HARMLS
• 2026-04-04 Rental Removed $1,850 SHOWMOJO
• 2026-04-02 Listed for Rent $1,850 SHOWMOJO
• 2026-04-01 Rental Removed $1,850 HARMLS
• 2026-03-25 Rental Removed $1,850 SHOWMOJO
• 2026-03-14 Listed for Rent $1,850 SHOWMOJO
• 2026-02-17 Price Changed $1,850 HARMLS
• 2026-01-30 Price Changed $1,900 HARMLS
• 2026-01-01 Rental Removed $2,000 SHOWMOJO
• 2025-12-25 Listed for Rent $2,000 SHOWMOJO
• 2025-12-12 Price Changed $2,000 HARMLS
• 2025-12-02 Listed for Rent $2,200 HARMLS
• 2024-08-08 Sold (Public Records) — Public Records
• 2024-08-05 Sold (Public Records) — Public Records
• 2024-08-05 Sold (MLS) — HARMLS
• 2024-07-26 Pending — HARMLS
• 2024-07-26 Listed $160,000 HARMLS
• 2019-11-18 Sold (Public Records) — Public Records
• 2019-11-04 Sold (MLS) — HARMLS
• 2019-10-28 Pending — HARMLS
• 2019-04-30 Listed $35,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+28.8%/yr

Latest (2025): $5,375 · +3.5% YoY. Source: county tax records.