3600 Rockingham St · Houston, TX 77051

$90,000

2 bd · 1.0 ba · 1,187 sqft · SingleFamily public records · 214 Days on market

Built 1910 7,000 sqft lot $76/sqft · 49% below area Est $176k · 49% under ↓ 9% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

3bed 1bath 1-story home located in Carolina Gardens ready for you. May be sold with others, Ask about other homes in The White Portfolio. with MLS# 28606985, 49915652, 64295644, 79580837

Key facts

• 7,000 sq ft lot
• Parking
• Built 1910

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $348 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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: 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 fast (+4.8%/yr); 312 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 44% of the median local income ($37k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $10k of equity ($622 loan paydown + $9k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 4.8% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 214 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; built in 1910 — 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 $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 214 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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: 1.51% ✓
• Cap rate: 10.94%
• Cash-on-cash: 16.59%
• DSCR: 1.74
• GRM: 5.5

CMA / ARV

• ARV (median comp): $176,431
• List price: $90,000
• Delta: -48.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9501 Chesterfield Dr	0.14mi	3/1.0 (+1)	1,152 (-3%)	8mo	$112,000	$97	77
9321 Cathedral Dr	0.29mi	3/1.0 (+1)	1,204 (+1%)	4mo	$159,000	$132	76
10006 Chesterfield Dr	0.37mi	3/1.0 (+1)	1,170 (-1%)	3mo	$125,000	$107	73
10205 Sierra Dr	0.49mi	3/1.0 (+1)	1,151 (-3%)	3mo	$120,000	$104	65
9333 Fairland Dr	0.19mi	3/1.0 (+1)	1,080 (-9%)	8mo	$170,000	$157	64
10010 Fairland Dr	0.39mi	3/1.0 (+1)	1,148 (-3%)	10mo	$72,000	$63	63
10209 Cathedral Dr	0.52mi	3/1.5 (+1)	1,244 (+5%)	3mo	$180,000	$145	58
3034 Corksie St	0.64mi	3/2.0 (+1)	1,225 (+3%)	0mo	$219,900	$180	56
3138 Sunbeam St	0.48mi	3/1.0 (+1)	1,091 (-8%)	7mo	$109,900	$101	53
3030 Corksie St	0.65mi	3/1.5 (+1)	1,214 (+2%)	7mo	$149,250	$123	53
3334 Dulcrest St	0.73mi	3/1.0 (+1)	1,122 (-6%)	3mo	$90,000	$80	49
4210 Larkspur St	0.55mi	3/2.0 (+1)	1,281 (+8%)	5mo	$199,000	$155	48

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

Projected returns pro-forma

10.0% appreciation · 4.77% rent growth · sell at horizon

5-year hold

• IRR: 37.6%
• Equity multiple: 3.93×
• Total profit: $73,755
• Equity at exit: $81,079

10-year hold

• IRR: 33.1%
• Equity multiple: 9.15×
• Total profit: $205,294
• Equity at exit: $174,850

Cash invested: $25,200 (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 77051

• Home prices YoY: 9.7%
• Rents YoY: 4.8%
• Active inventory: 312
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,361 high
• Mortgage (P&I): −$472
• Tax from tax record: −$217 /mo · $2,607/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $348

Break-even live

Break-even rent $920

Max offer price $90,000

Occupancy floor 69%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9414 Heno St Unit 13 Houston, TX	2.0	1.0	824	$900	$1.09	24d	1	0.18mi
4112 Grassmere St Houston, TX	2.0	1.0	711	$700	$0.98	10d	1	0.27mi
4205 Grassmere St Houston, TX	2.0	1.0	824	$900	$1.09	24d	1	0.31mi
4205 Phlox St Unit 2 BEDROOM 6 Houston, TX	2.0	1.0	736	$860	$1.17	17d	1	0.46mi
4207 Phlox St Houston, TX	2.0	1.0	736	$962	$1.31	1d	1	0.48mi
4326 Larkspur St Unit 3 Houston, TX	2.0	1.0	800	$1,200	$1.50	16d	1	0.61mi
2910 Reed Rd Houston, TX	1.0–3.0	1.0–2.0	967	$1,088	$1.12	1d	5	0.69mi
10510 Cathedral Dr Houston, TX	3.0	1.0	887	$1,300	$1.47	43d	1	0.70mi
2889 Reed Rd Houston, TX	1.0–2.0	1.0–2.0	997	$1,648	$1.65	2d	2	0.76mi
2725 Reed Rd Houston, TX	1.0–3.0	1.0–2.5	911	$862	$0.95	43d	1	0.90mi
4526 Knoxville St Unit A Houston, TX	3.0	2.5	1474	$1,775	$1.20	14d	1	1.00mi
4723 Mallow St Houston, TX	3.0	2.5	1472	$1,850	$1.26	5d	1	1.08mi
3137 W Bellfort Ave Houston, TX	2.0	2.0	1164	$1,802	$1.55	43d	1	1.09mi
8328 Corinth St Unit B Houston, TX	3.0	2.5	1500	$2,800	$1.87	20d	1	1.10mi
4410 Bellfort Ave Unit 4404 8 Houston, TX	2.0	1.0	812	$999	$1.23	7d	1	1.14mi
4810 Wilmington St Unit A Houston, TX	3.0	2.0	1165	$1,650	$1.42	43d	1	1.14mi
8521 Dosia St Houston, TX	3.0	2.0	1028	$1,665	$1.62	12d	1	1.22mi
4918 Wilmington St Unit A Houston, TX	3.0	3.0	1300	$2,100	$1.62	43d	1	1.27mi
4322 Groton Dr Houston, TX	3.0	1.0	858	$1,395	$1.63	43d	1	1.30mi
8010 Livingston St Houston, TX	3.0	2.0	1400	$1,800	$1.29	43d	1	1.39mi
5036 Mallow St Houston, TX	3.0	3.0	1472	$2,050	$1.39	43d	1	1.48mi

Listing history 14 events

1. 2026-06-18
   days on market $90,000 Active 214 DOM
2. 2026-06-17
   days on market $90,000 Active 213 DOM
3. 2026-06-16
   days on market $90,000 Active 212 DOM
4. 2026-06-15
   days on market $90,000 Active 211 DOM
5. 2026-06-13
   days on market $90,000 Active 209 DOM
6. 2026-06-10
   days on market $90,000 Active 205 DOM
7. 2026-06-08
   days on market $90,000 Active 204 DOM
8. 2026-06-07
   days on market $90,000 Active 203 DOM
9. 2026-06-04
   days on market $90,000 Active 200 DOM
10. 2026-05-31
    days on market $90,000 Active 197 DOM
11. 2026-03-23
    price $90,000 186-char remark

    Show marketing remark (186 chars)

    3bed 1bath 1-story home located in Carolina Gardens ready for you. May be sold with others, Ask about other homes in The White Portfolio. with MLS# 28606985, 49915652, 64295644, 79580837

12. 2025-11-15
    listed $99,000 Active 186-char remark

    Show marketing remark (186 chars)

    3bed 1bath 1-story home located in Carolina Gardens ready for you. May be sold with others, Ask about other homes in The White Portfolio. with MLS# 28606985, 49915652, 64295644, 79580837

13. 2025-04-11
    soldstatus
14. 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: $2,607 · $217/mo
• Projected year-2 tax: $2,607 · $217/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,330
• − Mortgage interest: −$5,041
• − Property taxes: −$2,607
• − Insurance: −$450
• − Repairs & maintenance: −$1,306
• − Management: −$1,306
• − Depreciation: −$2,618
• Taxable income: $3,001
• Est. tax owed @ 24.0%: −$720
• After-tax cash flow: $3,460/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): 19,795
• Household income: $37,415
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 1446.0

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: Predominantly Black (77%)
• Race & ethnicity: Black 77% Hispanic / Latino 16% Two or more races 11% White 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 10%

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: ▲ 16.02%
• Current HPI: 180.4283
• Rent YoY: ▲ 4.77%
• 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

-9.1% since first listed

4 events — show timeline

• 2026-03-23 Price Changed $90,000 HARMLS
• 2025-11-15 Listed $99,000 HARMLS
• 2025-04-11 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+6.0%/yr

Latest (2025): $2,607 · -5.1% YoY. Source: county tax records.