3817 Palm St · Houston, TX 77004

$488,000

5 bd · 3.5 ba · 3,044 sqft · SingleFamily public records · 83 Days on market

Built 1950 6,952 sqft lot $160/sqft · at area comps Est $513k · 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 +16.2/30.0
• ARV discount +9.7/15.0
• DSCR +5.0/10.0
• 1% rule +4.8/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A spacious modern house located in the heart of the city. This 5-bedroom, 3.5-bathroom home is a gem. It has a custom kitchen, quartz countertops, stunning back-splash, and sleek cabinets. The center island is large enough to entertain while you cook on the stainless steel appliances! Wooden floors, tile, carpet, plumbing fixtures. With two master bedrooms — one upstairs and one downstairs — the layout offers several options. 4 bedrooms up. This home is located minutes from the Texas Medical Center, Downtown, and major freeways, walking distance to the University of Houston, TSU, and the light rail. It is a must-see!

Key facts

• Custom kitchen
• Quartz countertops
• Two master bedrooms

Tags

• CUSTOM KITCHEN
• QUARTZ COUNTERTOPS
• STUNNING BACK-SPLASH
• STAINLESS STEEL APPLIANCES
• TWO MASTER BEDROOMS
• WALKING DISTANCE TO TSU

What this means for you Summary

Snapshot

• This is a 5-bed/3.5-bath single-family listed at $488k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $480k (1.6% below list).
• Recommended offer: $459k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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: 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: Lockhart El (math 12% / reading 27%, grade F, #3,583 of 4,322 statewide, top 86%, 379 students, 92% FRL); Cullen Middle (math 6% / reading 14%, grade F, #1,641 of 1,662 statewide, top 99%, 324 students, 100% FRL); Yates H S (math 12% / reading 23%, grade F, #1,451 of 1,632 statewide, top 89%, 851 students, 96% FRL) — zoned schools average 96% FRL vs 71% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 31% district-wide (-15 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.3%/yr); 585 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $4,802/mo this rent would consume 81% of the median local household income ($71k/yr) (locally 3072% 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 $15k 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 83 days — a 6% lower offer ($459k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 15y 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: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $458,720 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.98% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.27%
• DSCR: 1.10
• GRM: 8.5

CMA / ARV

• ARV (median comp): $512,591
• List price: $488,000
• Delta: -4.80%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3918 Fernwood Dr	0.51mi	4/3.5 (-1)	3,092 (+2%)	4mo	$400,000	$129	65
3915 Southmore Cir	0.23mi	4/2.0 (-1)	2,844 (-7%)	8mo	$485,000	$171	60
5730 Cullen Blvd	0.58mi	4/4.5 (-1)	2,976 (-2%)	2mo	$645,000	$217	59
4010 Roseneath Dr	0.45mi	4/3.0 (-1)	2,972 (-2%)	16mo	$599,900	$202	54
3403 Rosedale St	0.55mi	6/4.0 (+1)	3,228 (+6%)	12mo	$359,995	$112	47
3314 Arbor St	0.69mi	4/4.0 (-1)	2,892 (-5%)	7mo	$715,000	$247	47
4385 Fiesta Ln	0.62mi	4/3.0 (-1)	2,912 (-4%)	13mo	$565,000	$194	46
3614 Cleburne St	0.59mi	6/4.5 (+1)	3,218 (+6%)	17mo	$600,000	$186	40
4515 N Roseneath Dr	0.64mi	4/3.0 (-1)	3,203 (+5%)	17mo	$450,000	$140	40
3316 Binz St	0.74mi	4/3.5 (-1)	3,480 (+14%)	1mo	$840,000	$241	36
3316 Arbor	0.67mi	4/3.5 (-1)	3,407 (+12%)	12mo	$750,000	$220	34
3707 Wheeler St	0.50mi	4/3.5 (-1)	2,681 (-12%)	24mo	$567,900	$212	32

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: -16.3%
• Equity multiple: 0.44×
• Total profit: $-76,513
• Equity at exit: $72,762

10-year hold

• IRR: -14.8%
• Equity multiple: 0.27×
• Total profit: $-99,109
• Equity at exit: $42,193

Cash invested: $136,640 (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 77004

• Rents YoY: -0.3%
• Active inventory: 585
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $4,802 medium
• Mortgage (P&I): −$2,559
• Tax from tax record: −$772 /mo · $9,269/yr
• Insurance: −$203
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,008
• Net cashflow: $259

Break-even live

Break-even rent $4,475

Max offer price $488,000

Occupancy floor 90%

Sensitivity live

Price	-10% $535	-5% $397	+0% $259	+5% $120	+10% $-18
Rent	-10% $-121	-5% $69	+0% $259	+5% $448	+10% $638
Rate	-1.0pp $504	-0.5pp $383	base $259	+0.5pp $132	+1.0pp $3

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: $122,000
• Closing costs: $14,640
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3535 Wentworth St Houston, TX	4.0	3.0	2600	$2,650	$1.02	23d	1	0.34mi
2703 Blodgett St Unit 1047952P Houston, TX	1.0–5.0	1.5–5.5	2497	$15,247	$6.11	0d	2	1.19mi
3518 Dennis St Unit 1387517P Houston, TX	4.0	4.0	2271	$5,657	$2.49	0d	1	1.32mi

Listing history 39 events

1. 2026-06-21
   days on market $488,000 Active 83 DOM
2. 2026-06-18
   days on market $488,000 Active 80 DOM
3. 2026-06-17
   days on market $488,000 Active 79 DOM
4. 2026-06-16
   days on market $488,000 Active 78 DOM
5. 2026-06-15
   days on market $488,000 Active 77 DOM
6. 2026-06-13
   days on market $488,000 Active 75 DOM
7. 2026-06-10
   days on market $488,000 Active 71 DOM
8. 2026-06-08
   days on market $488,000 Active 70 DOM
9. 2026-06-07
   days on market $488,000 Active 69 DOM
10. 2026-06-04
    days on market $488,000 Active 66 DOM
11. 2026-06-01
    days on market $488,000 Active 63 DOM
12. 2026-05-31
    days on market $488,000 Active 62 DOM
13. 2026-04-23
    price $488,000 636-char remark

    Show marketing remark (636 chars)

    A spacious modern house located in the heart of the city. This 5-bedroom, 3.5-bathroom home is a gem. It has a custom kitchen, quartz countertops, stunning back-splash, and sleek cabinets. The center island is large enough to entertain while you cook on the stainless steel appliances! Wooden floors, tile, carpet, plumbing fixtures. With two master bedrooms — one upstairs and one downstairs — the layout offers several options. 4 bedrooms up. This home is located minutes from the Texas Medical Center, Downtown, and major freeways, walking distance to the University of Houston, TSU, and the light rail. It is a must-see!

14. 2026-03-30
    listed $499,000 Active 636-char remark

    Show marketing remark (636 chars)

    A spacious modern house located in the heart of the city. This 5-bedroom, 3.5-bathroom home is a gem. It has a custom kitchen, quartz countertops, stunning back-splash, and sleek cabinets. The center island is large enough to entertain while you cook on the stainless steel appliances! Wooden floors, tile, carpet, plumbing fixtures. With two master bedrooms — one upstairs and one downstairs — the layout offers several options. 4 bedrooms up. This home is located minutes from the Texas Medical Center, Downtown, and major freeways, walking distance to the University of Houston, TSU, and the light rail. It is a must-see!

15. 2019-06-24
    soldstatus
16. 2019-06-21
    soldstatus Sold 705-char remark

    Show marketing remark (705 chars)

    Spacious modern house located in the heart of the city. This turnkey home has been equipped with a custom kitchen sure to impress any chef. Modern Quartz counter-tops are offset by a stunning back-splash, which serve as a perfect backdrop to the new sleek cabinets. The center island is large enough to entertain while you cook on the new stainless steel appliances! Wooden floors, tile, carpet, plumbing fixtures, and paint throughout the home update this downtown gem. And with two master bedrooms--1 up and 1 down--the layout gives you several options. This home is located minutes from Texas Medical Center, Downtown, and major freeways, walking distance to UofH, TSU and light rail. It is a must-see!

17. 2019-06-03
    status Pending 705-char remark

    Show marketing remark (705 chars)

    Spacious modern house located in the heart of the city. This turnkey home has been equipped with a custom kitchen sure to impress any chef. Modern Quartz counter-tops are offset by a stunning back-splash, which serve as a perfect backdrop to the new sleek cabinets. The center island is large enough to entertain while you cook on the new stainless steel appliances! Wooden floors, tile, carpet, plumbing fixtures, and paint throughout the home update this downtown gem. And with two master bedrooms--1 up and 1 down--the layout gives you several options. This home is located minutes from Texas Medical Center, Downtown, and major freeways, walking distance to UofH, TSU and light rail. It is a must-see!

18. 2019-05-03
    status Active 705-char remark

    Show marketing remark (705 chars)

    Spacious modern house located in the heart of the city. This turnkey home has been equipped with a custom kitchen sure to impress any chef. Modern Quartz counter-tops are offset by a stunning back-splash, which serve as a perfect backdrop to the new sleek cabinets. The center island is large enough to entertain while you cook on the new stainless steel appliances! Wooden floors, tile, carpet, plumbing fixtures, and paint throughout the home update this downtown gem. And with two master bedrooms--1 up and 1 down--the layout gives you several options. This home is located minutes from Texas Medical Center, Downtown, and major freeways, walking distance to UofH, TSU and light rail. It is a must-see!

19. 2019-04-26
    status Option Pending 705-char remark

    Show marketing remark (705 chars)

    Spacious modern house located in the heart of the city. This turnkey home has been equipped with a custom kitchen sure to impress any chef. Modern Quartz counter-tops are offset by a stunning back-splash, which serve as a perfect backdrop to the new sleek cabinets. The center island is large enough to entertain while you cook on the new stainless steel appliances! Wooden floors, tile, carpet, plumbing fixtures, and paint throughout the home update this downtown gem. And with two master bedrooms--1 up and 1 down--the layout gives you several options. This home is located minutes from Texas Medical Center, Downtown, and major freeways, walking distance to UofH, TSU and light rail. It is a must-see!

20. 2019-04-22
    status Active 705-char remark

    Show marketing remark (705 chars)

    Spacious modern house located in the heart of the city. This turnkey home has been equipped with a custom kitchen sure to impress any chef. Modern Quartz counter-tops are offset by a stunning back-splash, which serve as a perfect backdrop to the new sleek cabinets. The center island is large enough to entertain while you cook on the new stainless steel appliances! Wooden floors, tile, carpet, plumbing fixtures, and paint throughout the home update this downtown gem. And with two master bedrooms--1 up and 1 down--the layout gives you several options. This home is located minutes from Texas Medical Center, Downtown, and major freeways, walking distance to UofH, TSU and light rail. It is a must-see!

21. 2019-04-10
    status Option Pending 705-char remark

    Show marketing remark (705 chars)

    Spacious modern house located in the heart of the city. This turnkey home has been equipped with a custom kitchen sure to impress any chef. Modern Quartz counter-tops are offset by a stunning back-splash, which serve as a perfect backdrop to the new sleek cabinets. The center island is large enough to entertain while you cook on the new stainless steel appliances! Wooden floors, tile, carpet, plumbing fixtures, and paint throughout the home update this downtown gem. And with two master bedrooms--1 up and 1 down--the layout gives you several options. This home is located minutes from Texas Medical Center, Downtown, and major freeways, walking distance to UofH, TSU and light rail. It is a must-see!

22. 2019-04-05
    listed $399,000 Active 705-char remark

    Show marketing remark (705 chars)

    Spacious modern house located in the heart of the city. This turnkey home has been equipped with a custom kitchen sure to impress any chef. Modern Quartz counter-tops are offset by a stunning back-splash, which serve as a perfect backdrop to the new sleek cabinets. The center island is large enough to entertain while you cook on the new stainless steel appliances! Wooden floors, tile, carpet, plumbing fixtures, and paint throughout the home update this downtown gem. And with two master bedrooms--1 up and 1 down--the layout gives you several options. This home is located minutes from Texas Medical Center, Downtown, and major freeways, walking distance to UofH, TSU and light rail. It is a must-see!

23. 2018-07-22
    historical
24. 2018-05-25
    listed $435,000 Active
25. 2017-02-03
    soldstatus
26. 2013-03-22
    soldstatus Sold
27. 2013-03-04
    status Pending
28. 2013-02-07
    status Active
29. 2013-02-03
    status Pending
30. 2013-01-04
    price $159,500
31. 2013-01-02
    price $162,000
32. 2012-12-24
    price $169,900
33. 2012-09-17
    soldstatus
34. 2012-08-22
    soldstatus
35. 2012-07-30
    listed $179,999 Active
36. 2012-07-10
    historical
37. 2011-10-18
    listed $225,000
38. 2006-02-23
    soldstatus
39. 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: $9,269 · $772/mo
• Projected year-2 tax: $9,269 · $772/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 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 25 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: $57,621
• − Mortgage interest: −$27,336
• − Property taxes: −$9,269
• − Insurance: −$2,440
• − Repairs & maintenance: −$4,610
• − Management: −$4,610
• − Depreciation: −$14,196
• Taxable loss: −$4,839
• Est. tax savings @ 24.0%: +$1,161
• After-tax cash flow: $4,263/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): 35,997
• Household income: $71,199
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 3072.0

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 0.68)
• Race & ethnicity: Black 48% White 27% Hispanic / Latino 13% Two or more races 11% Asian 8%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 82% English-only · Spanish 10% Chinese 2% Other Indo-European 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: ▼ -139.34%
• Current HPI: 199.6066
• Rent YoY: ▼ -0.32%
• 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

+116.9% since first listed

27 events — show timeline

• 2026-04-23 Price Changed $488,000 HARMLS
• 2026-03-30 Listed $499,000 HARMLS
• 2019-06-24 Sold (Public Records) — Public Records
• 2019-06-21 Sold (MLS) — HARMLS
• 2019-06-03 Pending — HARMLS
• 2019-05-03 Relisted — HARMLS
• 2019-04-26 Pending — HARMLS
• 2019-04-22 Relisted — HARMLS
• 2019-04-10 Pending — HARMLS
• 2019-04-05 Listed $399,000 HARMLS
• 2018-07-22 Listing Removed — HARMLS
• 2018-05-25 Listed $435,000 HARMLS
• 2017-02-03 Sold (Public Records) — Public Records
• 2013-03-22 Sold (MLS) — HARMLS
• 2013-03-04 Pending — HARMLS
• 2013-02-07 Relisted — HARMLS
• 2013-02-03 Pending — HARMLS
• 2013-01-04 Price Changed $159,500 HARMLS
• 2013-01-02 Price Changed $162,000 HARMLS
• 2012-12-24 Price Changed $169,900 HARMLS
• 2012-09-17 Sold (Public Records) — Public Records
• 2012-08-22 Sold (Public Records) — Public Records
• 2012-07-30 Listed $179,999 HARMLS
• 2012-07-10 Listing Removed — HARMLS
• 2011-10-18 Listed $225,000 HARMLS
• 2006-02-23 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+6.0%/yr

Latest (2025): $9,269 · -6.7% YoY. Source: county tax records.