528 Hahlo St · Houston, TX 77020

$349,900

3 bd · 2.0 ba · 1,392 sqft · MultiFamily public records · 109 Days on market

Built 1935 6,250 sqft lot $251/sqft · 82% above area Est $418k · 16% 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 +14.9/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.9/10.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Multi-family units

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

Listing remarks MLS

Well-maintained fourplex investment opportunity featuring two 2-bedroom/1-bath units and two 1-bedroom/1-bath units. Strong income-producing property with a proven history of being consistently rented. Renovated in 2018, offering updated interiors and systems designed for low-maintenance ownership. Ideal for investors seeking immediate cash flow and long-term appreciation.Rents below market rate, room to increase.

Key facts

• Renovated in 2018
• Updated interiors
• 6,250 sq ft lot

Tags

• RENOVATED IN 2018
• UPDATED INTERIORS
• LOW MAINTENANCE OWNERSHIP

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 2×1bd/1ba units multifamily listed at $350k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive. Per door: $365/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Recommended offer: $318k (9.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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: Eliot El (math 29% / reading 33%, grade F, #2,429 of 4,322 statewide, top 57%, 551 students, 95% FRL); Mcreynolds Middle (math 10% / reading 17%, grade F, #1,602 of 1,662 statewide, top 97%, 398 students, 98% FRL); Wheatley H S (math 17% / reading 19%, grade F, #1,445 of 1,632 statewide, top 89%, 643 students, 95% FRL) — zoned schools average 96% FRL vs 71% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.3%/yr); 339 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $37k of equity ($2k loan paydown + $35k 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 + 4.3% rent growth), your $98k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$60k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($318k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y ago 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

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• 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 $318,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% 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. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.39% ✓
• Cap rate: 11.30%
• Cash-on-cash: 17.88%
• DSCR: 1.80
• GRM: 6.0

CMA / ARV

• ARV (median comp): $418,497
• List price: $349,900
• Delta: -16.39%
• Verdict: UNDERPRICED
• Comps: 12 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5005 New Orleans St	0.62mi	4/2.0 (+1)	1,400 (+1%)	18mo	$169,000	$121	50
7107 Brownwood St	0.67mi	4/2.0 (+1)	1,340 (-4%)	18mo	$150,000	$112	42

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 · 4.27% rent growth · sell at horizon

5-year hold

• IRR: 38.2%
• Equity multiple: 3.96×
• Total profit: $289,909
• Equity at exit: $315,218

10-year hold

• IRR: 33.4%
• Equity multiple: 9.11×
• Total profit: $794,168
• Equity at exit: $679,779

Cash invested: $97,972 (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 77020

• Home prices YoY: 29.1%
• Rents YoY: 4.3%
• Active inventory: 339
• Price-to-rent: 22.5×

Monthly cashflow live

• Estimated rent: $4,867 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$404 /mo · $4,850/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,022
• Net cashflow: $1,460

Break-even live

Break-even rent $3,019

Max offer price $349,900

Occupancy floor 65%

Sensitivity live

Price	-10% $1,658	-5% $1,559	+0% $1,460	+5% $1,361	+10% $1,262
Rent	-10% $1,076	-5% $1,268	+0% $1,460	+5% $1,652	+10% $1,845
Rate	-1.0pp $1,636	-0.5pp $1,549	base $1,460	+0.5pp $1,369	+1.0pp $1,277

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,588
▸ 2× units	1	1	$2,280
Total (4 units)			$4,867

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2105 Sam Wilson St Houston, TX	3.0	2.5	1416	$6,750	$4.77	45d	1	0.28mi
5605 Mulvey St Unit 1019610P Houston, TX	3.0	2.5	1410	$4,376	$3.10	0d	1	0.29mi
2704 Sam Wilson St Unit 1391353P Houston, TX	2.0	2.0	1001	$2,082	$2.08	1d	1	0.59mi
1023 Hahlo St Houston, TX	4.0	2.0	1434	$1,775	$1.24	7d	1	0.61mi
4712 Rawley St Unit a Houston, TX	3.0	2.0	1501	$2,070	$1.38	22d	1	0.74mi
4712 Rawley St Unit B Houston, TX	3.0	2.5	1501	$2,045	$1.36	22d	1	0.74mi
4509 Courtney St Houston, TX	4.0	1.0	1456	$1,150	$0.79	23d	1	1.03mi
4300 Lyons Ave Unit 304 Houston, TX	4.0	2.0	1393	$1,460	$1.05	45d	1	1.04mi
3503 Wyrick St Houston, TX	3.0	2.5	1746	$2,850	$1.63	45d	1	1.06mi
3802 Dabney St Houston, TX	2.0	1.0	910	$875	$0.96	4d	1	1.09mi
3802 Dabney St Houston, TX	1.0–2.0	1.0	825	$990	$1.20	45d	2	1.09mi
3910 Woolworth St Houston, TX	3.0	2.0	1150	$1,750	$1.52	45d	1	1.18mi
3730 Lyons Ave Unit 216 Houston, TX	3.0	2.0	1107	$1,300	$1.17	45d	1	1.35mi

Listing history 23 events

1. 2026-06-21
   days on market $349,900 Active 109 DOM
2. 2026-06-18
   days on market $349,900 Active 106 DOM
3. 2026-06-17
   days on market $349,900 Active 105 DOM
4. 2026-06-16
   days on market $349,900 Active 104 DOM
5. 2026-06-15
   days on market $349,900 Active 103 DOM
6. 2026-06-13
   days on market $349,900 Active 101 DOM
7. 2026-06-10
   days on market $349,900 Active 97 DOM
8. 2026-06-08
   days on market $349,900 Active 96 DOM
9. 2026-06-07
   days on market $349,900 Active 95 DOM
10. 2026-06-04
    days on market $349,900 Active 92 DOM
11. 2026-06-01
    days on market $349,900 Active 89 DOM
12. 2026-05-31
    days on market $349,900 Active 88 DOM
13. 2026-03-04
    historical

    Show marketing remark (417 chars)

    Well-maintained fourplex investment opportunity featuring two 2-bedroom/1-bath units and two 1-bedroom/1-bath units. Strong income-producing property with a proven history of being consistently rented. Renovated in 2018, offering updated interiors and systems designed for low-maintenance ownership. Ideal for investors seeking immediate cash flow and long-term appreciation.Rents below market rate, room to increase.

14. 2026-03-04
    listed $349,900 Active 417-char remark

    Show marketing remark (417 chars)

    Well-maintained fourplex investment opportunity featuring two 2-bedroom/1-bath units and two 1-bedroom/1-bath units. Strong income-producing property with a proven history of being consistently rented. Renovated in 2018, offering updated interiors and systems designed for low-maintenance ownership. Ideal for investors seeking immediate cash flow and long-term appreciation.Rents below market rate, room to increase.

15. 2026-02-10
    listed $319,000 Active
16. 2026-01-28
    price $328,000
17. 2026-01-15
    listed $349,900 Active
18. 2016-11-04
    soldstatus
19. 2015-11-12
    soldstatus
20. 2014-05-06
    soldstatus
21. 2008-06-01
    historical
22. 2007-11-29
    listed $90,000
23. 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: $4,850 · $404/mo
• Projected year-2 tax: $6,403 · $534/mo
• Expected delta: +$1,553/yr (+$129/mo · 32.0%)

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

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 ≥109°F today · 23 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: $58,404
• − Mortgage interest: −$19,600
• − Property taxes: −$4,850
• − Insurance: −$1,750
• − Repairs & maintenance: −$4,672
• − Management: −$4,672
• − Depreciation: −$10,179
• Taxable income: $12,681
• Est. tax owed @ 24.0%: −$3,044
• After-tax cash flow: $14,477/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): 23,686
• Household income: $50,119
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 969.0

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 Hispanic (69%)
• Race & ethnicity: Hispanic / Latino 69% Black 24% Two or more races 22% White 5% Asian 1%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Swiss 1%
• Foreign-born: 23% · Canada
• Languages at home: 39% English-only · Spanish 59% Other Indo-European 1%

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: ▲ 55.64%
• Current HPI: 246.5578
• Rent YoY: ▲ 4.27%
• 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

+288.8% since first listed

11 events — show timeline

• 2026-03-04 Listed $349,900 HARMLS
• 2026-03-04 Listing Removed — HARMLS
• 2026-02-10 Listed $319,000 ForSaleByOwner.com
• 2026-01-28 Price Changed $328,000 HARMLS
• 2026-01-15 Listed $349,900 HARMLS
• 2016-11-04 Sold (Public Records) — Public Records
• 2015-11-12 Sold (Public Records) — Public Records
• 2014-05-06 Sold (Public Records) — Public Records
• 2008-06-01 Listing Removed — HARMLS
• 2007-11-29 Listed $90,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+8.6%/yr

Latest (2025): $4,850 · +9.0% YoY. Source: county tax records.