3213 Dennis St · Houston, TX 77004

$247,500

3 bd · 2.0 ba · 1,600 sqft · Land · 83 Days on market

5,000 sqft lot $155/sqft · 29% below area Est $347k · 29% under

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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 +21.5/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.6/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to an affordable single family one story home with a modern floor plan. This all brick beautiful home offers a functional 3 bedroom, 2 full bath with a 2 car garage. Enjoy the open concept with modern finishes throughout. This home also includes kitchen stainless steel appliances. The covered patio provides the ideal setting for outdoor gatherings and everyday enjoyment. This home is part of the Midtown Redevelopment Program, CCPPI and City of Houston to provide affordable home opportunities.

Key facts

• Modern floor plan
• Covered patio
• 5,000 sq ft lot

Tags

• MODERN FLOOR PLAN
• COVERED PATIO

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $248k.

Deal economics

• At list price, monthly cash flow is $370 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $237k (4.3% below list).
• Recommended offer: $233k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: Blackshear El (math 27% / reading 32%, grade F, #2,525 of 4,322 statewide, top 62%, 308 students, 99% FRL); Cullen Middle (math 6% / reading 14%, grade F, #1,641 of 1,662 statewide, top 99%, 324 students, 100% FRL); Yates H S (math 12% / reading 23%, grade F, #1,451 of 1,632 statewide, top 89%, 851 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 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 soft (-0.3%/yr); 585 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 40% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($233k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y 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

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $232,650 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.96% ✗
• Cap rate: 8.09%
• Cash-on-cash: 6.40%
• DSCR: 1.28
• GRM: 8.7

CMA / ARV

• ARV (median comp): $347,206
• List price: $247,500
• Delta: -28.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -9.6%
• Equity multiple: 0.66×
• Total profit: $-23,597
• Equity at exit: $36,903

10-year hold

• IRR: -4.3%
• Equity multiple: 0.75×
• Total profit: $-17,437
• Equity at exit: $21,399

Cash invested: $69,300 (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 77004

• Rents YoY: -0.3%
• Active inventory: 585
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,369 high
• Mortgage (P&I): −$1,298
• Tax from tax record: −$101 /mo · $1,208/yr
• Insurance: −$103
• HOA: −$0
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $370

Break-even live

Break-even rent $1,901

Max offer price $247,500

Occupancy floor 79%

Sensitivity live

Price	-10% $510	-5% $440	+0% $370	+5% $300	+10% $230
Rent	-10% $183	-5% $276	+0% $370	+5% $463	+10% $557
Rate	-1.0pp $494	-0.5pp $433	base $370	+0.5pp $306	+1.0pp $240

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: $61,875
• Closing costs: $7,425
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3309 Webster St Unit 1472545P Houston, TX	3.0	2.0	1334	$3,335	$2.50	1d	1	0.30mi
3034 Gray St Houston, TX	3.0	3.0	2081	$3,000	$1.44	45d	1	0.32mi
3229 Holman St Houston, TX	4.0	4.0	1632	$1,200	$0.74	45d	1	0.46mi
3012 Live Oak St Unit A Houston, TX	3.0	2.0	1188	$1,395	$1.17	22d	1	0.47mi
3517 McIlhenny St Houston, TX	3.0	3.5	2000	$3,200	$1.60	5d	1	0.47mi
3448 Coyle St Unit 3174 Houston, TX	3.0	2.0	1151	$1,250	$1.09	0d	1	0.48mi
3448 Coyle St Unit 510 Houston, TX	3.0	2.0	1151	$1,215	$1.06	18d	1	0.48mi
3719 Elgin St Houston, TX	1.0–5.0	1.0–5.0	1241	$1,374	$1.11	26d	14	0.60mi
3507 Canfield St Houston, TX	3.0	2.5	2200	$2,350	$1.07	26d	1	0.62mi
3131 Leeland St Houston, TX	3.0	3.5	1966	$2,850	$1.45	26d	1	0.64mi
3015 Isabella St Houston, TX	3.0	1.0	1452	$1,399	$0.96	1d	1	0.73mi
2102 Gray St Unit Na Houston, TX	3.0	1.0	1267	$2,200	$1.74	24d	1	0.73mi
3213 Saint Emanuel St Houston, TX	4.0	3.5	2100	$3,300	$1.57	18d	1	0.77mi
2425 Bell St Houston, TX	2.0	1.0–2.0	860	$2,806	$3.26	0d	71	0.83mi
2209 Alabama St Unit B Houston, TX	3.0	2.5	2074	$2,350	$1.13	45d	1	0.86mi
2216 Chenevert St Houston, TX	1.0–2.0	1.5–2.5	1380	$2,800	$2.03	26d	3	0.92mi
4306 Ennis St Houston, TX	3.0	3.0	1989	$2,500	$1.26	45d	1	0.93mi
1920 Hamilton St Houston, TX	2.0	2.0	1117	$2,160	$1.93	45d	1	0.94mi
1800 St Joseph Pkwy Houston, TX	1.0–2.0	1.0–2.0	950	$1,900	$2.00	9d	3	0.94mi
1800 Saint Joseph Pkwy Unit 1837 Houston, TX	2.0	2.0	1117	$1,769	$1.58	12d	1	0.94mi
1800 Saint Joseph Pkwy Unit 2187 Houston, TX	2.0	2.0	1117	$1,780	$1.59	0d	1	0.94mi
1800 Saint Joseph Pkwy Unit 2187 Houston, TX	2.0	2.0	1117	$1,780	$1.59	7d	1	0.94mi
1800 Saint Joseph Pkwy Unit 2165 Houston, TX	2.0	2.0	1117	$1,729	$1.55	1d	1	0.94mi
2357 Jackson St Houston, TX	3.0	2.5	1908	$2,500	$1.31	24d	1	0.94mi
2340 Polk St Unit EEL1 Houston, TX	2.0	2.0	1053	$1,775	$1.69	45d	1	0.94mi
2401 Eagle St Houston, TX	4.0	4.0	1700	$2,800	$1.65	45d	1	0.97mi
2311 Eagle St Houston, TX	3.0	4.0	1783	$2,500	$1.40	45d	1	1.00mi
2809 Crawford St Houston, TX	2.0	2.0	1928	$2,600	$1.35	45d	1	1.01mi
3603 Chenevert St Houston, TX	1.0–2.0	1.0–2.0	1020	$2,129	$2.09	15d	8	1.04mi
2501 McKinney St Houston, TX	2.0	2.0	1210	$1,634	$1.35	1d	1	1.06mi
2501 McKinney St Unit CRT2 Houston, TX	2.0	2.0	1210	$1,634	$1.35	5d	1	1.06mi
4001 Dallas St Unit 1029264P Houston, TX	3.0	3.0	2174	$5,220	$2.40	1d	1	1.06mi
3609 Chenevert St Houston, TX	2.0	2.0	1168	$1,749	$1.50	21d	1	1.06mi
3609 Chenevert St Houston, TX	2.0	2.0	1168	$1,749	$1.50	24d	1	1.06mi
2816 Rusk St Houston, TX	3.0	3.5	2107	$2,800	$1.33	45d	1	1.10mi
2319 Rosewood St Unit A Houston, TX	3.0	1.0	1333	$1,515	$1.14	26d	1	1.12mi
2703 Blodgett St Unit 1047952P Houston, TX	1.0–5.0	1.5–5.5	2497	$12,804	$5.13	0d	2	1.13mi
4009 Lamar St Unit A Houston, TX	2.0	2.0	1368	$1,699	$1.24	1d	1	1.14mi
2504 Rusk St Unit 1563174P Houston, TX	2.0	2.0	1819	$4,036	$2.22	5d	1	1.15mi
2111 Austin St Houston, TX	3.0	1.0–2.0	985	$3,095	$3.14	7d	25	1.16mi

Listing history 25 events

1. 2026-06-21
   days on market $247,500 Active 83 DOM
2. 2026-06-18
   days on market $247,500 Active 80 DOM
3. 2026-06-17
   days on market $247,500 Active 79 DOM
4. 2026-06-16
   days on market $247,500 Active 78 DOM
5. 2026-06-15
   days on market $247,500 Active 77 DOM
6. 2026-06-13
   days on market $247,500 Active 75 DOM
7. 2026-06-10
   days on market $247,500 Active 71 DOM
8. 2026-06-08
   days on market $247,500 Active 70 DOM
9. 2026-06-07
   days on market $247,500 Active 69 DOM
10. 2026-06-04
    days on market $247,500 Active 66 DOM
11. 2026-06-01
    days on market $247,500 Active 63 DOM
12. 2026-05-31
    days on market $247,500 Active 62 DOM
13. 2026-03-30
    listed $247,500 Active 505-char remark

    Show marketing remark (505 chars)

    Welcome to an affordable single family one story home with a modern floor plan. This all brick beautiful home offers a functional 3 bedroom, 2 full bath with a 2 car garage. Enjoy the open concept with modern finishes throughout. This home also includes kitchen stainless steel appliances. The covered patio provides the ideal setting for outdoor gatherings and everyday enjoyment. This home is part of the Midtown Redevelopment Program, CCPPI and City of Houston to provide affordable home opportunities.

14. 2009-05-14
    soldstatus
15. 2009-05-12
    soldstatus 77-char remark

    Show marketing remark (77 chars)

    Nice lot to build on. Minutes from mid-town, downtown, Med Center, UH and TSU

16. 2009-03-13
    historical 77-char remark

    Show marketing remark (77 chars)

    Nice lot to build on. Minutes from mid-town, downtown, Med Center, UH and TSU

17. 2008-10-04
    listed $40,000 77-char remark

    Show marketing remark (77 chars)

    Nice lot to build on. Minutes from mid-town, downtown, Med Center, UH and TSU

18. 2006-12-02
    historical
19. 2004-12-02
    listed $135,000
20. 2004-12-01
    historical
21. 2004-02-05
    listed $115,000
22. 2003-11-13
    historical
23. 2002-11-13
    listed $115,000
24. 2002-09-27
    soldstatus
25. 1999-10-22
    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: $1,208 · $101/mo
• Projected year-2 tax: $4,529 · $377/mo
• Expected delta: +$3,321/yr (+$277/mo · 274.9%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 22 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: $28,426
• − Mortgage interest: −$13,864
• − Property taxes: −$1,208
• − Insurance: −$1,238
• − Repairs & maintenance: −$2,274
• − Management: −$2,274
• − Depreciation: −$7,200
• Taxable income: $368
• Est. tax owed @ 24.0%: −$88
• After-tax cash flow: $4,347/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): 35,997
• Household income: $71,199
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 3072.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: Black 48% White 27% Hispanic / Latino 13% Two or more races 11% Asian 8%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 82% English-only · Spanish 10% Chinese 2% Other Indo-European 2%

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: ▼ -139.34%
• Current HPI: 199.6066
• Rent YoY: ▼ -0.32%
• 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

+115.2% since first listed

13 events — show timeline

• 2026-03-30 Listed $247,500 HARMLS
• 2009-05-14 Sold (Public Records) — Public Records
• 2009-05-12 Sold (MLS) — HARMLS
• 2009-03-13 Listing Removed — HARMLS
• 2008-10-04 Listed $40,000 HARMLS
• 2006-12-02 Listing Removed — HARMLS
• 2004-12-02 Listed $135,000 HARMLS
• 2004-12-01 Listing Removed — HARMLS
• 2004-02-05 Listed $115,000 HARMLS
• 2003-11-13 Listing Removed — HARMLS
• 2002-11-13 Listed $115,000 HARMLS
• 2002-09-27 Sold (Public Records) — Public Records
• 1999-10-22 Sold (Public Records) — Public Records