7993 Attwater St · Houston, TX 77028

$395,000

6 bd · 4.0 ba · 2,044 sqft · MultiFamily · 134 Days on market

Built 2024 Good condition 4,082 sqft lot $193/sqft · at area comps Est $389k · at est. ↓ 6% since listing

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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 +13.7/30.0
• Appreciation +7.6/10.0
• ARV discount +6.8/15.0
• DSCR +4.2/10.0
• Condition / age +4.0/5.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.1/5.0

Multi-family units

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

Listing remarks MLS

Reduced price for a quick sale !! Beautiful newly built duplex is a great opportunity for both investors and homeowners, Each unit has 3 bedrooms and 2 bathrooms with modern vinyl laminate flooring throughout, The duplex sits on a 4,082 SQFT lot and features an open floor plan, modern finishes, and lots of natural light, making each unit feel bright and comfortable. This property is perfect if you want to live in one unit and rent the other, or if you're looking for a full rental investment. It's move-in ready and available for immediate occupancy or tenants. Located in a growing area, this brand-new duplex offers flexibility and strong future potential. A clean, modern property ready to start generating value. Call today for more details.

Key facts

• 4,082 sq ft lot
• Built 2024
• Listed 134 days

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $395k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $31 ($376/yr) — positive. Per door: $16/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 $350k (11.5% below list).
• Recommended offer: $348k (12.0% below list) — sets the bar for market timing.
• 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: 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); 353 active listings in the ZIP; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,495/mo this rent would consume 109% 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 $23k of equity ($3k loan paydown + $21k 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 $111k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 134 days — a 12% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $30k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $347,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% 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. 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. 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?
9. 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.
10. 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.
11. 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: 0.88% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.34%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (median comp): $388,978
• List price: $395,000
• Delta: 1.55%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8049 Ritz St Unit A	0.73mi	6/2.0	2,212 (+8%)	19mo	$375,000	$170	28

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: 12.5%
• Equity multiple: 1.80×
• Total profit: $88,393
• Equity at exit: $229,743

10-year hold

• IRR: 12.4%
• Equity multiple: 3.22×
• Total profit: $245,606
• Equity at exit: $401,474

Cash invested: $110,600 (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 77028

• Home prices YoY: 2.0%
• Rents YoY: -1.6%
• Active inventory: 353
• Price-to-rent: 18.8×

Monthly cashflow live

• Estimated rent: $3,495 high
• Mortgage (P&I): −$2,071
• Tax est. 1.5%: −$494 /mo · $5,925/yr
• Insurance: −$165
• HOA: −$0
• Vacancy / Maint / Mgmt: −$734
• Net cashflow: $31

Break-even live

Break-even rent $3,455

Max offer price $395,000

Occupancy floor 94%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,496
Total (2 units)			$3,495

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: $98,750
• Closing costs: $11,850
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $395,000 Active 134 DOM
2. 2026-06-17
   days on market $395,000 Active 133 DOM
3. 2026-06-16
   days on market $395,000 Active 132 DOM
4. 2026-06-15
   days on market $395,000 Active 131 DOM
5. 2026-06-13
   days on market $395,000 Active 129 DOM
6. 2026-06-10
   days on market $395,000 Active 125 DOM
7. 2026-06-08
   days on market $395,000 Active 124 DOM
8. 2026-06-07
   days on market $395,000 Active 123 DOM
9. 2026-06-04
   days on market $395,000 Active 120 DOM
10. 2026-06-01
    days on market $395,000 Active 117 DOM
11. 2026-05-31
    days on market $395,000 Active 116 DOM
12. 2026-03-08
    price $395,000 753-char remark

    Show marketing remark (753 chars)

    Reduced price for a quick sale !! Beautiful newly built duplex is a great opportunity for both investors and homeowners, Each unit has 3 bedrooms and 2 bathrooms with modern vinyl laminate flooring throughout, The duplex sits on a 4,082 SQFT lot and features an open floor plan, modern finishes, and lots of natural light, making each unit feel bright and comfortable. This property is perfect if you want to live in one unit and rent the other, or if you're looking for a full rental investment. It's move-in ready and available for immediate occupancy or tenants. Located in a growing area, this brand-new duplex offers flexibility and strong future potential. A clean, modern property ready to start generating value. Call today for more details.

13. 2026-03-04
    price $405,000 753-char remark

    Show marketing remark (753 chars)

    Reduced price for a quick sale !! Beautiful newly built duplex is a great opportunity for both investors and homeowners, Each unit has 3 bedrooms and 2 bathrooms with modern vinyl laminate flooring throughout, The duplex sits on a 4,082 SQFT lot and features an open floor plan, modern finishes, and lots of natural light, making each unit feel bright and comfortable. This property is perfect if you want to live in one unit and rent the other, or if you're looking for a full rental investment. It's move-in ready and available for immediate occupancy or tenants. Located in a growing area, this brand-new duplex offers flexibility and strong future potential. A clean, modern property ready to start generating value. Call today for more details.

14. 2026-02-22
    price $415,000 753-char remark

    Show marketing remark (753 chars)

    Reduced price for a quick sale !! Beautiful newly built duplex is a great opportunity for both investors and homeowners, Each unit has 3 bedrooms and 2 bathrooms with modern vinyl laminate flooring throughout, The duplex sits on a 4,082 SQFT lot and features an open floor plan, modern finishes, and lots of natural light, making each unit feel bright and comfortable. This property is perfect if you want to live in one unit and rent the other, or if you're looking for a full rental investment. It's move-in ready and available for immediate occupancy or tenants. Located in a growing area, this brand-new duplex offers flexibility and strong future potential. A clean, modern property ready to start generating value. Call today for more details.

15. 2026-02-04
    listed $425,000 Active 753-char remark

    Show marketing remark (753 chars)

    Reduced price for a quick sale !! Beautiful newly built duplex is a great opportunity for both investors and homeowners, Each unit has 3 bedrooms and 2 bathrooms with modern vinyl laminate flooring throughout, The duplex sits on a 4,082 SQFT lot and features an open floor plan, modern finishes, and lots of natural light, making each unit feel bright and comfortable. This property is perfect if you want to live in one unit and rent the other, or if you're looking for a full rental investment. It's move-in ready and available for immediate occupancy or tenants. Located in a growing area, this brand-new duplex offers flexibility and strong future potential. A clean, modern property ready to start generating value. Call today for more details.

16. 2025-12-01
    historical
17. 2025-10-20
    price $410,000
18. 2025-07-17
    listed $415,000 Active
19. 2025-06-13
    historical
20. 2025-06-02
    listed $420,000 Active
21. 2025-06-02
    historical
22. 2025-06-01
    status Active
23. 2025-06-01
    historical
24. 2025-03-05
    listed $420,000 Active
25. 2025-03-01
    historical
26. 2025-02-28
    historical
27. 2025-02-28
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥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: $41,940
• − Mortgage interest: −$22,126
• − Property taxes: −$5,925
• − Insurance: −$1,975
• − Repairs & maintenance: −$3,355
• − Management: −$3,355
• − Depreciation: −$11,491
• Taxable loss: −$6,287
• Est. tax savings @ 24.0%: +$1,509
• After-tax cash flow: $1,885/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This move-in ready, newly built duplex is in excellent condition with modern finishes and ample natural light, making it an attractive investment opportunity.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental.
• Both Painting exterior and interior — Fresh paint can make the home more appealing and increase its value.
• Both Landscaping and curb appeal — Improves the home's curb appeal and can attract more potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Painting exterior and interior — Fresh paint can make the home more appealing and increase its value. ↑
• Both Landscaping and curb appeal — Improves the home's curb appeal and can attract more potential buyers or renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-6.0% since first listed

16 events — show timeline

• 2026-03-08 Price Changed $395,000 HARMLS
• 2026-03-04 Price Changed $405,000 HARMLS
• 2026-02-22 Price Changed $415,000 HARMLS
• 2026-02-04 Listed $425,000 HARMLS
• 2025-12-01 Listing Removed — HARMLS
• 2025-10-20 Price Changed $410,000 HARMLS
• 2025-07-17 Listed $415,000 HARMLS
• 2025-06-13 Listing Removed — HARMLS
• 2025-06-02 Listing Removed — HARMLS
• 2025-06-02 Listed $420,000 HARMLS
• 2025-06-01 Relisted — HARMLS
• 2025-06-01 Listing Removed — HARMLS
• 2025-03-05 Listed $420,000 HARMLS
• 2025-03-01 Coming Soon — HARMLS
• 2025-02-28 Coming Soon — HARMLS
• 2025-02-28 Listing Removed — HARMLS