4011 Elmwood St · Houston, TX 77051

$265,900

3 bd · 2.5 ba · 1,773 sqft · SingleFamily public records · 32 Days on market

Built 2023 Good condition 2,500 sqft lot

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Why this score? — see what drove the C- 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 +14.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +4.3/10.0
• DSCR +4.3/10.0
• Condition / age +4.0/5.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0

Listing remarks

Modern new construction two-story home featuring 3 bedrooms and 2.5 bathrooms, located just minutes from the heart of downtown. This thoughtfully designed home offers an open-concept layout with high ceilings, abundant natural light, and stylish contemporary finishes throughout. The spacious kitchen features sleek cabinetry, quartz countertops, stainless steel appliances, and a large island that flows seamlessly into the living and dining areas—perfect for entertaining. Upstairs you'll find generously sized bedrooms, including a private primary suite with a beautifully designed bathroom. Additional highlights include modern flooring, designer lighting, and a convenient one-car garage.

Key facts

• Quartz countertops
• Spacious kitchen
• Large island

Tags

• OPEN-CONCEPT LAYOUT
• SPACIOUS KITCHEN
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• LARGE ISLAND
• PRIVATE PRIMARY SUITE

Property features AI

Exterior

• Parking: Attached garage (1 car); Driveway
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Residential property; New construction (2023); Slab foundation; Composition roof
• Construction: Cement siding and wood siding; Built in 2023; Slab foundation; Composition roof
• Exterior features: Fenced backyard; Front porch

Interior

• Kitchen: Dishwasher; Disposal; Gas oven; Gas range; Microwave
• Bedrooms: Primary bedroom on first floor (approx. 10'8" x 13'); Bedroom on second floor (approx. 14' x 9'8"); Bedroom on second floor (approx. 11' x 12')
• Flooring: Laminate; Tile
• Bathrooms: Two full bathrooms; One half bathroom; Primary bathroom on first floor (approx. 10' x 8')
• Heating & cooling: Central heating (gas); Central air (electric)
• Interior features: High ceilings; Ceiling fan(s); Double vanity; Bath in primary bedroom; Separate shower; Kitchen/family room combo; Kitchen/dining combo; Self-closing cabinet doors and drawers; Programmable thermostat
• Laundry & utility: Washer hookup; Electric dryer hookup

🏗️ New construction. The $265,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $253,762.

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $266k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $39 ($467/yr) — positive.
• To cash-flow at today's rent, offer at most $261k (2.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (10.8% below list).
• Recommended offer: $237k (10.8% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 3.1% 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: Bastian El (math 17% / reading 17%, grade F, #3,836 of 4,322 statewide, top 91%, 648 students, 99% FRL); Attucks Middle (math 15% / reading 22%, grade F, #1,478 of 1,662 statewide, top 90%, 439 students, 98% FRL); Worthing H S (math 22% / reading 21%, grade F, #1,377 of 1,632 statewide, top 85%, 827 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 19% at this address vs 31% district-wide (-12 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 rising fast (+4.8%/yr); 321 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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).

Forward outlook

• In year one you build about $27k of equity ($2k loan paydown + $25k 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 $71k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $237,080 (10.8% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
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: 0.93% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 8.9

CMA / ARV

• ARV (median comp): $253,762
• List price: $265,900
• Delta: 4.78%
• 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
9007 Comal St	0.48mi	3/2.5	1,703 (-4%)	4mo	$289,000	$170	68
4357 Maggie St	0.51mi	4/3.0 (+1)	1,781 (+0%)	3mo	$239,950	$135	66
8815 Edgar St	0.46mi	3/2.5	1,620 (-9%)	5mo	$299,990	$185	60
8817 Edgar St	0.46mi	3/2.5	1,620 (-9%)	6mo	$299,990	$185	59
8819 Edgar St	0.47mi	3/2.5	1,620 (-9%)	7mo	$299,990	$185	58
4425 Elmwood St	0.38mi	3/2.5	1,995 (+12%)	4mo	$310,000	$155	58
4418 Rosemont St	0.32mi	4/3.5 (+1)	1,961 (+11%)	1mo	$250,000	$127	58
4427 Elmwood St	0.39mi	3/2.5	1,995 (+12%)	4mo	$310,000	$155	58
4338 Larkspur St	0.56mi	3/2.5	1,958 (+10%)	4mo	$230,000	$117	53
8813 Edgar St	0.46mi	3/2.5	2,000 (+13%)	7mo	$365,000	$183	52
9003 Comal St	0.46mi	3/3.5	2,012 (+14%)	2mo	$339,900	$169	50
9001 Comal St	0.46mi	3/3.5	2,012 (+14%)	7mo	$349,990	$174	46

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: 25.4%
• Equity multiple: 3.04×
• Total profit: $145,064
• Equity at exit: $228,609

10-year hold

• IRR: 22.9%
• Equity multiple: 7.12×
• Total profit: $434,779
• Equity at exit: $493,004

Cash invested: $71,053 (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: 321
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,371 high
• Mortgage (P&I): −$1,331
• Tax from tax record: −$398 /mo · $4,771/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $39

Break-even live

Break-even rent $2,322

Max offer price $253,762

Occupancy floor 93%

Sensitivity live

Price	-10% $183	-5% $111	+0% $39	+5% $-33	+10% $-105
Rent	-10% $-148	-5% $-55	+0% $39	+5% $133	+10% $226
Rate	-1.0pp $167	-0.5pp $103	base $39	+0.5pp $-27	+1.0pp $-94

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: $63,441
• Closing costs: $7,613
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4117 Shelby Cir Unit 1230900P Houston, TX	4.0	2.0	1367	$5,253	$3.84	1d	1	0.18mi
4406 Sterling St Houston, TX	3.0	2.5	1840	$1,999	$1.09	19d	1	0.32mi
8328 Corinth St Unit B Houston, TX	3.0	2.5	1500	$2,800	$1.87	22d	1	0.33mi
3620 Du Bois St Unit 1302349P Houston, TX	3.0	2.5	1797	$2,945	$1.64	5d	1	0.37mi
4514 Galesburg St Unit B Houston, TX	3.0	2.5	1680	$3,500	$2.08	26d	1	0.47mi
4526 Knoxville St Unit A Houston, TX	3.0	2.5	1474	$1,775	$1.20	17d	1	0.53mi
8606 Lee Otis St Houston, TX	4.0	2.5	1869	$1,975	$1.06	1d	1	0.55mi
8010 Livingston St Houston, TX	3.0	2.0	1400	$1,800	$1.29	46d	1	0.59mi
4601 White Rock St Unit A Houston, TX	3.0	2.5	1700	$2,500	$1.47	46d	1	0.63mi
4609 Bricker St Unit ABC Houston, TX	3.0	2.5	1375	$3,500	$2.55	13d	1	0.71mi
4609 Bricker St Unit B Houston, TX	3.0	2.5	1300	$3,500	$2.69	15d	1	0.71mi
7806 Comal St Unit B Houston, TX	3.0	2.5	1800	$2,200	$1.22	46d	1	0.71mi
4613 Bricker St Unit B Houston, TX	3.0	2.5	1600	$2,300	$1.44	46d	1	0.72mi
4538 Clover St Houston, TX	4.0	2.0	1768	$1,595	$0.90	46d	1	0.72mi
8107 Calhoun Rd Houston, TX	3.0	2.5	1304	$2,250	$1.73	26d	1	0.78mi
4835 Sunflower St Unit 1546466P Houston, TX	3.0	2.0	1883	$4,516	$2.40	17d	1	0.79mi
4530 Mayflower St Houston, TX	3.0	2.0	1302	$1,800	$1.38	46d	1	0.83mi
3710 Rockingham St Houston, TX	3.0	2.0	1890	$1,700	$0.90	46d	1	0.94mi
4723 Mallow St Houston, TX	3.0	2.5	1472	$1,850	$1.26	7d	1	0.95mi
2889 Reed Rd Houston, TX	1.0–2.0	1.0–2.0	997	$1,648	$1.65	5d	2	1.03mi
7321 Conley St Unit B Houston, TX	3.0	2.0	1501	$2,025	$1.35	23d	1	1.09mi
7321 Conley St Unit A Houston, TX	3.0	2.5	1869	$2,025	$1.08	23d	1	1.09mi
3846 Seabrook St Houston, TX	3.0	3.5	1833	$2,300	$1.25	46d	1	1.14mi
9606 Ashville Dr Unit B Houston, TX	3.0	2.0	1610	$1,570	$0.98	46d	1	1.15mi
3732 Seabrook St Houston, TX	3.0	2.5	1727	$2,350	$1.36	26d	1	1.18mi
7710 Darnay Dr Houston, TX	3.0	3.0	1635	$2,095	$1.28	46d	1	1.22mi
3655 Seabrook St Unit 6 Houston, TX	2.0	1.0	1600	$1,000	$0.62	46d	1	1.23mi
9610 Buffum St Houston, TX	3.0	3.0	1605	$1,799	$1.12	46d	1	1.27mi
5036 Mallow St Houston, TX	3.0	3.0	1472	$2,050	$1.39	46d	1	1.33mi
7507 Springhill St Houston, TX	3.0	3.5	2000	$4,500	$2.25	46d	1	1.33mi
4918 Wilmington St Unit A Houston, TX	3.0	3.0	1300	$2,100	$1.62	46d	1	1.34mi
5222 Northridge Dr Houston, TX	4.0	2.0	1300	$1,850	$1.42	26d	1	1.35mi
7358 Guadalcanal Rd Houston, TX	3.0	3.0	1768	$2,195	$1.24	46d	1	1.36mi
5201 Kenilwood Dr Unit B Houston, TX	3.0	2.0	2442	$1,725	$0.71	16d	1	1.41mi
3615 Dreyfus St Houston, TX	3.0	3.0	2011	$2,800	$1.39	46d	1	1.43mi
8181 El Mundo St Houston, TX	1.0–3.0	1.0–2.5	1356	$2,262	$1.67	1d	48	1.44mi
8181 El Mundo St Houston, TX	1.0–3.0	1.0–2.0	1241	$2,041	$1.64	26d	18	1.44mi
4921a Pederson St Unit A Houston, TX	3.0	2.0	1765	$2,150	$1.22	15d	1	1.44mi
5012 Higgins St Unit B Houston, TX	3.0	2.5	1611	$1,650	$1.02	26d	1	1.49mi

Listing history 16 events

1. 2026-06-21
   days on market $265,900 Active 32 DOM
2. 2026-06-18
   days on market $265,900 Active 29 DOM
3. 2026-06-17
   days on market $265,900 Active 28 DOM
4. 2026-06-16
   days on market $265,900 Active 27 DOM
5. 2026-06-15
   days on market $265,900 Active 26 DOM
6. 2026-06-13
   days on market $265,900 Active 24 DOM
7. 2026-06-10
   days on market $265,900 Active 20 DOM
8. 2026-06-08
   days on market $265,900 Active 19 DOM
9. 2026-06-07
   days on market $265,900 Active 18 DOM
10. 2026-06-04
    days on market $265,900 Active 15 DOM
11. 2026-06-01
    days on market $265,900 Active 12 DOM
12. 2026-05-31
    days on market $265,900 Active 11 DOM
13. 2026-05-15
    historical
14. 2026-03-05
    listed $265,900 Active
15. 2021-12-27
    soldstatus
16. 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: $4,771 · $398/mo
• Projected year-2 tax: $4,866 · $405/mo
• Expected delta: +$95/yr (+$8/mo · 2.0%)

ⓘ 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) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 23 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: $28,450
• − Mortgage interest: −$14,215
• − Property taxes: −$4,771
• − Insurance: −$1,269
• − Repairs & maintenance: −$2,276
• − Management: −$2,276
• − Depreciation: −$7,382
• Taxable loss: −$3,739
• Est. tax savings @ 24.0%: +$897
• After-tax cash flow: $1,364/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 · 13 photos

Good 80/100 Cosmetic rehab

This modern two-story home is in good condition with a good condition score of 80. It features a well-maintained kitchen, bathrooms, and exterior. The home is move-in ready with minor cosmetic updates needed for the exterior siding and gutters.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value.
• Rental Replace or clean gutters — Clean gutters improve drainage and reduce maintenance costs for tenants.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Rental Replace or clean gutters — Clean gutters improve drainage and reduce maintenance costs for tenants. ↑

ⓘ 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): 19,795
• 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

+0.0% since first listed

5 events — show timeline

• 2026-05-20 Listed $265,900 HARMLS
• 2026-05-15 Listing Removed — HARMLS
• 2026-03-05 Listed $265,900 HARMLS
• 2021-12-27 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+159.2%/yr

Latest (2025): $4,771 · -1.0% YoY. Source: county tax records.