4020 Sayers St · Houston, TX 77026

$275,000

4 bd · 2.0 ba · 1,404 sqft · MultiFamily public records · 78 Days on market

Built 1930 10,000 sqft lot $196/sqft · 43% above area Est $192k · 43% over ↓ 21% since listing

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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
• DSCR +10.0/10.0
• 1% rule +8.8/10.0
• Appreciation +6.9/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This well-maintained four-unit property in the growing Kashmere Gardens neighborhood offers an excellent opportunity for both owner-occupants and investors. Each unit features an open-concept layout with 2 bedrooms and 1 bathroom, providing functional and comfortable living spaces. The flexible setup allows you to live in one unit while generating rental income from the others. Currently, 3 of the 4 units are already rented out, providing immediate income potential. With easy access to I-610, I-10, and U.S. 59/I-69, the property offers convenient access to downtown Houston and nearby dining, shopping, and entertainment options. Local parks, schools, and grocery stores enhance everyday convenience. With ongoing revitalization in the area and consistent rental demand, this property represents a promising investment opportunity. Whether you're looking to offset living expenses or expand your portfolio, this property is worth considering. Contact us today for more information.

Key facts

• Easy access to i-610
• Easy access to i-10
• Local parks

Tags

• OPEN-CONCEPT LAYOUT
• IMMEDIATE INCOME POTENTIAL
• EASY ACCESS TO I-610
• EASY ACCESS TO I-10
• EASY ACCESS TO U.S. 59/I-69
• LOCAL PARKS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $275k.

Deal economics

• At list price, monthly cash flow is $676 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $275k).
• Recommended offer: $258k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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 (+3.1%/yr); 445 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 77% 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 $3,785/mo this rent would consume 116% of the median local household income ($39k/yr) (locally 1531% 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 $13k of equity ($2k loan paydown + $11k appreciation (3.9% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.9% appreciation + 3.1% rent growth), your $77k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 78 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago; this cycle's ask has dropped $25k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $258,499 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 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 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.38% ✓
• Cap rate: 11.11%
• Cash-on-cash: 17.19%
• DSCR: 1.76
• GRM: 6.1

CMA / ARV

• ARV (median comp): $192,444
• List price: $275,000
• Delta: 42.90%
• Verdict: OVERPRICED
• Comps: 10 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3109 Memel St	0.53mi	4/1.0	1,416 (+1%)	17mo	$185,000	$131	56

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

Projected returns pro-forma

3.89% appreciation · 3.08% rent growth · sell at horizon

5-year hold

• IRR: 19.6%
• Equity multiple: 2.17×
• Total profit: $90,037
• Equity at exit: $137,709

10-year hold

• IRR: 20.2%
• Equity multiple: 4.19×
• Total profit: $245,324
• Equity at exit: $223,872

Cash invested: $77,000 (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 77026

• Home prices YoY: 1.5%
• Rents YoY: 3.1%
• Active inventory: 445
• Price-to-rent: 24.2×

Monthly cashflow live

• Estimated rent: $3,785 medium
• Mortgage (P&I): −$1,442
• Tax from tax record: −$331 /mo · $3,966/yr
• Insurance: −$115
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$795
• Net cashflow: $676

Break-even live

Break-even rent $2,929

Max offer price $275,000

Occupancy floor 77%

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,784
Total (4 units)			$3,785

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3503 Wyrick St Houston, TX	3.0	2.5	1746	$2,850	$1.63	43d	1	0.78mi
4509 Courtney St Houston, TX	4.0	1.0	1456	$1,150	$0.79	22d	1	0.79mi
5414 Pardee St Houston, TX	3.0	2.0	1100	$1,500	$1.36	43d	1	1.07mi
2516 Ivy St Houston, TX	3.0	1.0	1200	$1,500	$1.25	43d	1	1.12mi
3910 Woolworth St Houston, TX	3.0	2.0	1150	$1,750	$1.52	43d	1	1.18mi
5124 Gold St Unit B Houston, TX	3.0	2.5	1650	$1,895	$1.15	43d	1	1.21mi
4030 Reid St Houston, TX	3.0	2.0	1680	$2,000	$1.19	43d	1	1.24mi
1524 Evelyn St Houston, TX	3.0	2.5	1804	$2,800	$1.55	43d	1	1.35mi
4712 Rawley St Unit B Houston, TX	3.0	2.5	1501	$2,045	$1.36	20d	1	1.35mi
4712 Rawley St Unit a Houston, TX	3.0	2.0	1501	$2,070	$1.38	20d	1	1.35mi
3730 Lyons Ave Unit 216 Houston, TX	3.0	2.0	1107	$1,300	$1.17	43d	1	1.47mi
4300 Lyons Ave Unit 304 Houston, TX	4.0	2.0	1393	$1,460	$1.05	43d	1	1.48mi
3107 Melbourne St Houston, TX	3.0	1.0	956	$1,500	$1.57	43d	1	1.50mi

Listing history 26 events

1. 2026-06-18
   days on market $275,000 Active 78 DOM
2. 2026-06-17
   days on market $275,000 Active 77 DOM
3. 2026-06-16
   days on market $275,000 Active 76 DOM
4. 2026-06-15
   days on market $275,000 Active 75 DOM
5. 2026-06-13
   days on market $275,000 Active 73 DOM
6. 2026-06-10
   days on market $275,000 Active 69 DOM
7. 2026-06-08
   days on market $275,000 Active 68 DOM
8. 2026-06-07
   days on market $275,000 Active 67 DOM
9. 2026-06-04
   days on market $275,000 Active 64 DOM
10. 2026-06-01
    days on market $275,000 Active 61 DOM
11. 2026-05-31
    days on market $275,000 Active 60 DOM
12. 2026-05-01
    price $275,000 987-char remark

    Show marketing remark (987 chars)

    This well-maintained four-unit property in the growing Kashmere Gardens neighborhood offers an excellent opportunity for both owner-occupants and investors. Each unit features an open-concept layout with 2 bedrooms and 1 bathroom, providing functional and comfortable living spaces. The flexible setup allows you to live in one unit while generating rental income from the others. Currently, 3 of the 4 units are already rented out, providing immediate income potential. With easy access to I-610, I-10, and U.S. 59/I-69, the property offers convenient access to downtown Houston and nearby dining, shopping, and entertainment options. Local parks, schools, and grocery stores enhance everyday convenience. With ongoing revitalization in the area and consistent rental demand, this property represents a promising investment opportunity. Whether you're looking to offset living expenses or expand your portfolio, this property is worth considering. Contact us today for more information.

13. 2026-04-01
    listed $300,000 Active 987-char remark

    Show marketing remark (987 chars)

    This well-maintained four-unit property in the growing Kashmere Gardens neighborhood offers an excellent opportunity for both owner-occupants and investors. Each unit features an open-concept layout with 2 bedrooms and 1 bathroom, providing functional and comfortable living spaces. The flexible setup allows you to live in one unit while generating rental income from the others. Currently, 3 of the 4 units are already rented out, providing immediate income potential. With easy access to I-610, I-10, and U.S. 59/I-69, the property offers convenient access to downtown Houston and nearby dining, shopping, and entertainment options. Local parks, schools, and grocery stores enhance everyday convenience. With ongoing revitalization in the area and consistent rental demand, this property represents a promising investment opportunity. Whether you're looking to offset living expenses or expand your portfolio, this property is worth considering. Contact us today for more information.

14. 2023-07-19
    soldstatus
15. 2023-07-12
    soldstatus Sold 386-char remark

    Show marketing remark (386 chars)

    Four-unit property located in the growing downtown Houston area. Tenants pay all their own utilities. Cash flowing investment property with low maintenance. Rent roll and taxes in the attachments. All units are 2 bedrooms and 1 bath each. Also for sale are the houses next to this four-unit, total of 7 units can be a package deal. 4010 Sayers and 4014 Sayers listed on Har.com

16. 2023-06-05
    status Pending 386-char remark

    Show marketing remark (386 chars)

    Four-unit property located in the growing downtown Houston area. Tenants pay all their own utilities. Cash flowing investment property with low maintenance. Rent roll and taxes in the attachments. All units are 2 bedrooms and 1 bath each. Also for sale are the houses next to this four-unit, total of 7 units can be a package deal. 4010 Sayers and 4014 Sayers listed on Har.com

17. 2023-05-25
    status Option Pending 386-char remark

    Show marketing remark (386 chars)

    Four-unit property located in the growing downtown Houston area. Tenants pay all their own utilities. Cash flowing investment property with low maintenance. Rent roll and taxes in the attachments. All units are 2 bedrooms and 1 bath each. Also for sale are the houses next to this four-unit, total of 7 units can be a package deal. 4010 Sayers and 4014 Sayers listed on Har.com

18. 2023-05-15
    price $265,000 386-char remark

    Show marketing remark (386 chars)

    Four-unit property located in the growing downtown Houston area. Tenants pay all their own utilities. Cash flowing investment property with low maintenance. Rent roll and taxes in the attachments. All units are 2 bedrooms and 1 bath each. Also for sale are the houses next to this four-unit, total of 7 units can be a package deal. 4010 Sayers and 4014 Sayers listed on Har.com

19. 2023-04-21
    price $275,000 386-char remark

    Show marketing remark (386 chars)

    Four-unit property located in the growing downtown Houston area. Tenants pay all their own utilities. Cash flowing investment property with low maintenance. Rent roll and taxes in the attachments. All units are 2 bedrooms and 1 bath each. Also for sale are the houses next to this four-unit, total of 7 units can be a package deal. 4010 Sayers and 4014 Sayers listed on Har.com

20. 2023-03-06
    price $300,000 386-char remark

    Show marketing remark (386 chars)

    Four-unit property located in the growing downtown Houston area. Tenants pay all their own utilities. Cash flowing investment property with low maintenance. Rent roll and taxes in the attachments. All units are 2 bedrooms and 1 bath each. Also for sale are the houses next to this four-unit, total of 7 units can be a package deal. 4010 Sayers and 4014 Sayers listed on Har.com

21. 2023-02-21
    price $310,000 386-char remark

    Show marketing remark (386 chars)

    Four-unit property located in the growing downtown Houston area. Tenants pay all their own utilities. Cash flowing investment property with low maintenance. Rent roll and taxes in the attachments. All units are 2 bedrooms and 1 bath each. Also for sale are the houses next to this four-unit, total of 7 units can be a package deal. 4010 Sayers and 4014 Sayers listed on Har.com

22. 2023-02-15
    price $320,000 386-char remark

    Show marketing remark (386 chars)

    Four-unit property located in the growing downtown Houston area. Tenants pay all their own utilities. Cash flowing investment property with low maintenance. Rent roll and taxes in the attachments. All units are 2 bedrooms and 1 bath each. Also for sale are the houses next to this four-unit, total of 7 units can be a package deal. 4010 Sayers and 4014 Sayers listed on Har.com

23. 2023-01-13
    price $330,000 386-char remark

    Show marketing remark (386 chars)

    Four-unit property located in the growing downtown Houston area. Tenants pay all their own utilities. Cash flowing investment property with low maintenance. Rent roll and taxes in the attachments. All units are 2 bedrooms and 1 bath each. Also for sale are the houses next to this four-unit, total of 7 units can be a package deal. 4010 Sayers and 4014 Sayers listed on Har.com

24. 2023-01-09
    listed $350,000 Active 386-char remark

    Show marketing remark (386 chars)

    Four-unit property located in the growing downtown Houston area. Tenants pay all their own utilities. Cash flowing investment property with low maintenance. Rent roll and taxes in the attachments. All units are 2 bedrooms and 1 bath each. Also for sale are the houses next to this four-unit, total of 7 units can be a package deal. 4010 Sayers and 4014 Sayers listed on Har.com

25. 2021-02-26
    soldstatus
26. 1999-06-29
    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: $3,966 · $331/mo
• Projected year-2 tax: $5,032 · $419/mo
• Expected delta: +$1,066/yr (+$89/mo · 26.9%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone AE · 21% 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $45,420
• − Mortgage interest: −$15,404
• − Property taxes: −$3,966
• − Insurance: −$6,494
• − Repairs & maintenance: −$3,634
• − Management: −$3,634
• − Depreciation: −$8,000
• Taxable income: $4,289
• Est. tax owed @ 24.0%: −$1,029
• After-tax cash flow: $7,087/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): 21,981
• Household income: $39,211
• Rent vs Own: 56.3% rent · 43.7% own
• Severe rent burden: 1531.0

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 0.56)
• Race & ethnicity: Black 49% Hispanic / Latino 44% Two or more races 18% White 5% Native American 1%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 61% English-only · Spanish 39%

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: ▲ 3.89%
• Current HPI: 267.5995
• Rent YoY: ▲ 3.08%
• 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

-21.4% since first listed

15 events — show timeline

• 2026-05-01 Price Changed $275,000 HARMLS
• 2026-04-01 Listed $300,000 HARMLS
• 2023-07-19 Sold (Public Records) — Public Records
• 2023-07-12 Sold (MLS) — HARMLS
• 2023-06-05 Pending — HARMLS
• 2023-05-25 Pending — HARMLS
• 2023-05-15 Price Changed $265,000 HARMLS
• 2023-04-21 Price Changed $275,000 HARMLS
• 2023-03-06 Price Changed $300,000 HARMLS
• 2023-02-21 Price Changed $310,000 HARMLS
• 2023-02-15 Price Changed $320,000 HARMLS
• 2023-01-13 Price Changed $330,000 HARMLS
• 2023-01-09 Listed $350,000 HARMLS
• 2021-02-26 Sold (Public Records) — Public Records
• 1999-06-29 Sold (Public Records) — Public Records

Property tax history

+5.4%/yr

Latest (2025): $3,966 · -3.2% YoY. Source: county tax records.