8826 Richland Dr · Houston, TX 77078

$120,000

3 bd · 1.0 ba · 1,472 sqft · SingleFamily public records · 8 Days on market

Built 1940 7,644 sqft lot Est $203k · 41% under

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Why this score? — see what drove the A- 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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Appreciation +6.2/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

4-Bedroom 2-Bathroom 1-Story Home Ready For You Sits On A Large Lot With 2-Driveways.

Key facts

• 7,644 sq ft lot
• Built 1940
• Listed 7 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property; Faces north; Entry on slab foundation
• Construction: Built in 1940; Wood siding; Composition roof; Slab foundation
• Exterior features: Subdivision setting; Asphalt and concrete road surfaces

Interior

• Kitchen: Free-standing range; Gas oven; Gas range; Oven
• Bedrooms: First-floor bedroom (12 x 11); Up to 4 possible bedrooms
• Flooring: Tile; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Window-unit heating; Window-unit cooling
• Interior features: Ceiling fans

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $494 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Cap rate 11.2% 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: Key Middle (math 10% / reading 20%, grade F, #1,569 of 1,662 statewide, top 95%, 615 students, 100% FRL); Kashmere H S (math 14% / reading 22%, grade F, #1,445 of 1,632 statewide, top 89%, 725 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 31% district-wide (-14 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: 129 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $1,743/mo this rent would consume 53% of the median local household income ($39k/yr) (locally 780% 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 $4k of equity ($830 loan paydown + $3k appreciation (2.5% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.5% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1940 — 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 $120,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.45% ✓
• Cap rate: 11.23%
• Cash-on-cash: 17.64%
• DSCR: 1.78
• GRM: 5.7

CMA / ARV

• ARV (on-the-fly): $203,136
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8913 Linda Vista Rd	0.12mi	3/1.0	1,266 (-14%)	4mo	$175,000	$138	68
9219 Linda Vista Rd	0.51mi	3/1.5	1,335 (-9%)	1mo	$210,000	$157	58
9006 Homewood Ln	0.33mi	3/1.0	1,300 (-12%)	14mo	$175,000	$135	53
9242 Richland Dr	0.57mi	3/2.0	1,550 (+5%)	16mo	$224,900	$145	47
8902 Chatwood Dr	0.35mi	4/3.0 (+1)	1,368 (-7%)	16mo	$260,000	$190	46
9206 Woodlyn Rd	0.58mi	4/1.5 (+1)	1,578 (+7%)	11mo	$145,000	$92	45
9314 Laura Koppe Rd	0.72mi	3/2.0	1,399 (-5%)	11mo	$166,900	$119	45
9013 Burl St	0.60mi	4/2.0 (+1)	1,597 (+8%)	7mo	$145,000	$91	43
8646 Fringewood Dr	0.58mi	3/2.0	1,600 (+9%)	16mo	$293,000	$183	41
8413 Darlington Dr	0.73mi	4/3.0 (+1)	1,564 (+6%)	2mo	$150,000	$96	41
9206 Richland Dr	0.46mi	3/1.5	1,298 (-12%)	22mo	$220,000	$169	39
9238 Forest View St	0.73mi	4/2.0 (+1)	1,666 (+13%)	17mo	$200,000	$120	21

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

Projected returns pro-forma

2.5% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.0%
• Equity multiple: 2.27×
• Total profit: $42,809
• Equity at exit: $50,591

10-year hold

• IRR: 24.4%
• Equity multiple: 4.35×
• Total profit: $112,426
• Equity at exit: $75,445

Cash invested: $33,600 (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 77078

• Home prices YoY: 0.8%
• Active inventory: 129
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,743 high
• Mortgage (P&I): −$629
• Tax from tax record: −$204 /mo · $2,443/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $494

Break-even live

Break-even rent $1,118

Max offer price $120,000

Occupancy floor 67%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8638 Doris Oaks Cir Houston, TX	3.0	3.0	1777	$1,975	$1.11	44d	1	0.22mi
8602 Wilkins Oaks Dr Houston, TX	3.0	2.0	1307	$1,775	$1.36	44d	1	0.31mi
8631 Homewood Ln Unit B Houston, TX	3.0	3.0	1500	$1,850	$1.23	44d	1	0.40mi
8631 Homewood Ln Unit A Houston, TX	3.0	2.5	1500	$1,850	$1.23	44d	1	0.40mi
8627 Homewood Ln Unit B Houston, TX	3.0	2.5	1500	$1,850	$1.23	44d	1	0.41mi
8625 Homewood Ln Unit B Houston, TX	3.0	3.0	1500	$1,850	$1.23	44d	1	0.41mi
8623 Homewood Unit A Houston, TX	3.0	2.5	1150	$1,850	$1.61	44d	1	0.42mi
8623 Homewood Ln Unit B Houston, TX	3.0	2.5	1150	$1,850	$1.61	19d	1	0.42mi
9133 Woodlyn Rd Houston, TX	3.0	1.0	1073	$1,495	$1.39	3d	1	0.44mi
9137 Woodlyn Rd Houston, TX	3.0	1.0	1568	$1,550	$0.99	21d	1	0.45mi
8711 Southwark St Unit A Houston, TX	3.0	2.0	1150	$1,750	$1.52	44d	1	0.62mi
7600 E Houston Rd Houston, TX	1.0–3.0	1.0–2.0	1017	$1,436	$1.41	14d	8	0.63mi
9222 Hillis St Houston, TX	3.0	2.0	1498	$1,850	$1.23	44d	1	0.74mi
9110 Tidwell Rd Houston, TX	2.0	2.0	987	$1,200	$1.22	24d	1	0.80mi
9110 Tidwell Rd Houston, TX	2.0	2.0	987	$1,185	$1.20	44d	1	0.80mi
8309 Carolwood Dr Houston, TX	3.0	1.0	938	$1,350	$1.44	44d	1	0.83mi
8238 Homewood Ln Houston, TX	3.0	2.0	1696	$1,695	$1.00	24d	1	0.90mi
8216 Richland Dr Unit B Houston, TX	3.0	2.0	1150	$1,750	$1.52	44d	1	0.91mi
8213 Linda Vista Rd Houston, TX	3.0	2.0	1298	$1,625	$1.25	24d	1	0.92mi
9526 Balsam Ln Houston, TX	3.0	1.5	1533	$1,475	$0.96	5d	1	0.96mi
8113 Denton St Houston, TX	3.0	2.0	1150	$1,750	$1.52	44d	1	0.98mi
8203 Woodlyn Rd Unit C Houston, TX	3.0	2.5	1650	$1,650	$1.00	8d	1	0.99mi
8350 Tidwell Rd Unit A Houston, TX	3.0	2.0	980	$975	$0.99	44d	1	1.04mi
8346 Tidwell Rd Unit B Houston, TX	3.0	2.0	980	$1,000	$1.02	44d	1	1.04mi
9702 Hillis St Houston, TX	3.0	2.0	1612	$1,550	$0.96	44d	1	1.10mi
9399 Tidwell Rd Houston, TX	3.0	2.0	1031	$1,107	$1.07	24d	1	1.12mi
9700 Mesa Dr Houston, TX	1.0–3.0	1.0–2.0	784	$989	$1.26	2d	8	1.13mi
8102 Crestview Dr Unit B Houston, TX	3.0	2.5	1600	$1,900	$1.19	44d	1	1.15mi
8102 Crestview Dr Unit A Houston, TX	3.0	2.5	1800	$1,900	$1.06	22d	1	1.15mi
9393 Tidwell Rd Houston, TX	3.0–4.0	2.0	1135	$1,244	$1.10	2d	10	1.21mi
8235 Locksley Rd Unit A Houston, TX	3.0	2.5	1608	$1,525	$0.95	8d	1	1.31mi
8006 Lynette St Houston, TX	3.0	1.0	1400	$1,475	$1.05	24d	1	1.34mi
7914 Laura Koppe Rd Houston, TX	3.0	2.0	1400	$1,850	$1.32	44d	1	1.36mi
9943 Valley Wind Dr Houston, TX	3.0	2.0	1319	$1,595	$1.21	2d	1	1.44mi
7973 Ritz St Houston, TX	3.0	2.0	1076	$2,250	$2.09	8d	1	1.48mi
8158 Sunbury St Houston, TX	3.0	2.5	1300	$1,525	$1.17	24d	1	1.50mi

Listing history 7 events

1. 2026-06-09
   days on market $120,000 Active 8 DOM
2. 2026-06-08
   days on market $120,000 Active 7 DOM
3. 2026-06-07
   days on market $120,000 Active 6 DOM
4. 2026-06-04
   days on market $120,000 Active 3 DOM
5. 2026-06-03
   days on market $120,000 Active 2 DOM
6. 2026-06-02
   remarks 85-char remark
7. 2026-06-02
   listed $120,000 Active 1 DOM

ⓘ 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: $2,443 · $204/mo
• Projected year-2 tax: $2,443 · $204/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°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: $20,914
• − Mortgage interest: −$6,722
• − Property taxes: −$2,443
• − Insurance: −$600
• − Repairs & maintenance: −$1,673
• − Management: −$1,673
• − Depreciation: −$3,491
• Taxable income: $4,311
• Est. tax owed @ 24.0%: −$1,035
• After-tax cash flow: $4,892/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): 14,247
• Household income: $39,093
• Rent vs Own: 43.8% rent · 56.2% own
• Severe rent burden: 780.0

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

• Race & ethnicity: Black 49% Hispanic / Latino 46% Two or more races 15% White 5%
• Hispanic origin (detail): Mexican 36% Cuban 1%
• Common ancestry: Italian 1% Hispanic 1%
• Foreign-born: 24% · Canada
• Languages at home: 59% English-only · Spanish 41%

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: ▲ 2.50%
• Current HPI: 307.0842
• Rent YoY: —
• 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

6 events — show timeline

• 2026-06-01 Listed $120,000 HARMLS
• 2015-08-27 Sold (Public Records) — Public Records
• 2013-09-09 Sold (Public Records) — Public Records
• 2009-06-24 Sold (Public Records) — Public Records
• 2008-07-24 Sold (Public Records) — Public Records
• 1988-11-04 Sold (Public Records) — Public Records

Property tax history

+8.6%/yr

Latest (2025): $2,443 · +0.3% YoY. Source: county tax records.