8367 Howton St Unit A/B · Houston, TX 77028

$111,900

6 bd · 4.0 ba · 2,916 sqft · MultiFamily · 17 Days on market

Excellent condition 5,670 sqft lot

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Why this score? — see what drove the B+ 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.6/10.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• 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

BEAUTIFUL LOT for a Beautiful Duplex (lot only) PRICE INCLUDES ALL PLANS AND PERMITS CITY-APPROVED READY TO GO, BE YOUR OWN BUILDER, KEEP THE EQUITY, one unit to live in and one for rental income, OR expand your investments with TWO rental incomes. Great for savvy or beginner investor. Building cost estimate available SAVE TIME AND MONEY! buy it today and break ground tomorrow! bring your builder or a preferred builder is ready to go, architecturally design to maximize space and minimize building cost. Many new builds in the area, this area has much potential. Envision the possibilities and investment potential. Lot value with all plans and permits included. Survey on file. Next door lot ju

Key facts

• City approved
• Lot value
• 5,670 sq ft lot

Tags

• CITY APPROVED
• BUILDING COST ESTIMATE
• LOT VALUE
• LOT IS CLEAR AND CLEAN

Property features AI

Finance

• Financial info: Tax information available (annual tax reported)

Exterior

• Home design: Residential income property; Two-unit building
• Construction: Shingle roof; Wood roof elements; Building area about 2,916 total square feet
• Exterior features: Cleared lot; Lot dimensions approximately 54 x 105

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Two full bathrooms; Property contains two residential units

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $112k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $112k).
• Recommended offer: $110k (1.5% below list) — sets the bar for market timing.

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: Key Middle (math 10% / reading 20%, grade F, #1,569 of 1,662 statewide, top 95%, 615 students, 100% FRL); Kashmere H S (math 14% / reading 22%, grade F, #1,445 of 1,632 statewide, top 89%, 725 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 16% at this address vs 31% district-wide (-14 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 (-1.6%/yr); 354 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).

Forward outlook

• In year one you build about $7k of equity ($774 loan paydown + $6k 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 $31k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($110k) 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

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,221 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 3.24% ✓
• Cap rate: 28.68%
• Cash-on-cash: 79.94%
• DSCR: 4.56
• GRM: 2.6

CMA / ARV

• ARV (on-the-fly): $478,224
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7980 Angus St	0.64mi	6/6.0	3,210 (+10%)	9mo	$499,900	$156	38
8406 Tate St Unit A and B	0.61mi	6/2.0	2,529 (-13%)	14mo	$445,000	$176	29
6916 Tommye St Unit A-B	0.64mi	6/2.0	2,628 (-10%)	20mo	$430,000	$164	29

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: 80.7%
• Equity multiple: 5.65×
• Total profit: $145,554
• Equity at exit: $65,084

10-year hold

• IRR: 77.6%
• Equity multiple: 10.90×
• Total profit: $310,052
• Equity at exit: $113,734

Cash invested: $31,332 (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: 354
• Price-to-rent: 5.2×

Monthly cashflow live

• Estimated rent: $3,621 high
• Mortgage (P&I): −$587
• Tax est. 1.5%: −$140 /mo · $1,678/yr
• Insurance: −$47
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$760
• Net cashflow: $2,021

Break-even live

Break-even rent $1,063

Max offer price $111,900

Occupancy floor 39%

Sensitivity live

Price	-10% $2,098	-5% $2,059	+0% $2,021	+5% $1,982	+10% $1,943
Rent	-10% $1,735	-5% $1,878	+0% $2,021	+5% $2,164	+10% $2,307
Rate	-1.0pp $2,077	-0.5pp $2,049	base $2,021	+0.5pp $1,992	+1.0pp $1,962

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,620
Total (2 units)			$3,621

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: $27,975
• Closing costs: $3,357
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-21
   days on market $111,900 Active 17 DOM
2. 2026-06-18
   days on market $111,900 Active 14 DOM
3. 2026-06-17
   days on market $111,900 Active 13 DOM
4. 2026-06-16
   days on market $111,900 Active 12 DOM
5. 2026-06-15
   days on market $111,900 Active 11 DOM
6. 2026-06-13
   days on market $111,900 Active 9 DOM
7. 2026-06-09
   days on market $111,900 Active 5 DOM
8. 2026-06-08
   days on market $111,900 Active 4 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $111,900 Active 3 DOM

ⓘ 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 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 6 d/yr ≥111°F today · 20 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: $43,452
• − Mortgage interest: −$6,268
• − Property taxes: −$1,678
• − Insurance: −$1,357
• − Repairs & maintenance: −$3,476
• − Management: −$3,476
• − Depreciation: −$3,255
• Taxable income: $23,941
• Est. tax owed @ 24.0%: −$5,746
• After-tax cash flow: $18,504/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 · 5 photos

Excellent 95/100 None rehab

This multi-family property is in excellent condition with no visible repairs needed. It offers a great opportunity for investors looking to maximize their returns with minimal investment.

Value-add opportunities

• Both Painting and minor landscaping improvements — Enhances curb appeal and interior aesthetics
• Both New flooring in high-traffic areas — Improves durability and appearance
• Both New kitchen appliances — Modernizes the space and increases appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Painting and minor landscaping improvements — Enhances curb appeal and interior aesthetics ↑
• Both New flooring in high-traffic areas — Improves durability and appearance ↑
• Both New kitchen appliances — Modernizes the space and increases appeal ↑

ⓘ 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

+12.0% since first listed

3 events — show timeline

• 2026-06-04 Listed $111,900 HARMLS
• 2026-04-05 Listing Removed — HARMLS
• 2026-01-15 Listed $99,900 HARMLS