716 Memorial Mews St #4 · Houston, TX 77079

$675,000

27 bd · None ba · 4,100 sqft · MultiFamily public records · 33 Days on market

Built 1980 6,720 sqft lot $467/mo HOA · 29% of rent

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Why this score? — see what drove the D 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 +12.2/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• 1% rule +5.1/10.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Multi-family units

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

Listing remarks MLS

4-plex community has a good Westheimer & Energy corridor location placing its tenants w/in minutes of over 35,000 sf of prime commercial space found in the Westchase/Memorial/Town&Country areas. Theproximity to Beltway 8,Westpark tollway & IH-10 allows the property to have access to most of the major employment areas of Houston as well as shopping & dinning. Unit mix:2 TH units w/ 2 bdrooms & 2 baths,2 flats w/ 3 bdrooms & 2 baths. Rents are: $800, $775,$775,$800. Potential rent increase.

Key facts

• Fireplaces
• Hike and bike trails
• Updated interiors

Tags

• ENERGY CORRIDOR
• TERRY HERSHEY PARK
• HIKE AND BIKE TRAILS
• UPDATED INTERIORS
• HARD-SURFACE FLOORING
• FIREPLACES

Property features AI

Finance

• Financial info: Income property with a total building area of approximately 4,100; Total of 4 units
• HOA & community: Managed by CKM Community Management; Monthly association fee of $467 covering recreation facilities and trash

Exterior

• Utilities: Cable available; Electricity available; Water available
• Home design: Residential income property; Built in 1980
• Construction: Composition roof
• Exterior features: Association pool

Interior

• Kitchen: Dishwasher, Disposal, Refrigerator
• Bedrooms: Four units total: three 3-bed units, one 2-bed unit
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Dishwasher, Disposal, Refrigerator

What this means for you Summary

Snapshot

• This is a 2×2bd/2ba + 2×3bd/2ba units multifamily listed at $675k.

Deal economics

• At list price, monthly cash flow is $-205 ($-2k/yr) — negative. Per door: $-51/mo.
• To cash-flow at today's rent, offer at most $639k (5.4% below list).
• Meets the 1% rule at list price ($7k rent vs $675k).
• Recommended offer: $639k (5.4% below list) — sets the bar for cash-flow.
• Cap rate 6.0% 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.
• Katy ISD (suburban): math 61% / reading 63% proficiency, ranked #29 of 826 in TX (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Maurice L Wolfe El (math 37% / reading 42%, grade F, #1,545 of 4,322 statewide, top 38%, 405 students, 64% FRL); Memorial Parkway J H (math 61% / reading 59%, grade B, #158 of 1,662 statewide, top 10%, 787 students, 45% FRL); Katy H S (math 62% / reading 74%, grade B, #150 of 1,632 statewide, top 10%, 3,330 students, 38% FRL) — zoned schools average 49% FRL vs 27% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.8%/yr); 243 active listings in the ZIP; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $6,819/mo this rent would consume 80% of the median local household income ($102k/yr) (locally 1811% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $20k 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 33 days — a 3% lower offer ($655k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y 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: 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 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $638,756 (5.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
11. 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.
12. 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.
13. 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: 1.01% ✓
• Cap rate: 6.05%
• Cash-on-cash: -0.88%
• DSCR: 0.96
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -22.5%
• Equity multiple: 0.25×
• Total profit: $-141,757
• Equity at exit: $100,645

10-year hold

• IRR: -29.9%
• Equity multiple: -0.14×
• Total profit: $-214,762
• Equity at exit: $58,362

Cash invested: $189,000 (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 77079

• Rents YoY: -0.8%
• Active inventory: 243
• Price-to-rent: 35.0×

Monthly cashflow live

• Estimated rent: $6,819 high
• Mortgage (P&I): −$3,540
• Tax from tax record: −$1,238 /mo · $14,852/yr
• Insurance: −$281
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$467
• Vacancy / Maint / Mgmt: −$1,432
• Net cashflow: $-205

Break-even live

Break-even rent $7,079

Max offer price $638,756

Occupancy floor 98%

Sensitivity live

Price	-10% $177	-5% $-14	+0% $-205	+5% $-396	+10% $-587
Rent	-10% $-744	-5% $-475	+0% $-205	+5% $64	+10% $334
Rate	-1.0pp $135	-0.5pp $-33	base $-205	+0.5pp $-380	+1.0pp $-558

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

Units	Beds	Baths	Est. rent
▸ 2× units	2	2	$3,216
▸ 2× units	3	2	$3,602
Total (4 units)			$6,819

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: $168,750
• Closing costs: $20,250
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $467 · $5,604/yr

Listing history 26 events

1. 2026-06-21
   days on market $675,000 Active 33 DOM
2. 2026-06-18
   days on market $675,000 Active 30 DOM
3. 2026-06-17
   days on market $675,000 Active 29 DOM
4. 2026-06-16
   days on market $675,000 Active 28 DOM
5. 2026-06-15
   days on market $675,000 Active 27 DOM
6. 2026-06-13
   days on market $675,000 Active 25 DOM
7. 2026-06-09
   days on market $675,000 Active 21 DOM
8. 2026-06-08
   days on market $675,000 Active 20 DOM
9. 2026-06-07
   days on market $675,000 Active 19 DOM
10. 2026-06-04
    days on market $675,000 Active 16 DOM
11. 2026-06-03
    days on market $675,000 Active 15 DOM
12. 2026-06-02
    days on market $675,000 Active 14 DOM
13. 2026-06-01
    days on market $675,000 Active 13 DOM
14. 2026-05-31
    days on market $675,000 Active 12 DOM
15. 2026-05-19
    listed $675,000 Active
16. 2022-05-24
    soldstatus
17. 2022-02-01
    soldstatus
18. 2010-12-27
    soldstatus
19. 2010-12-23
    soldstatus 521-char remark

    Show marketing remark (521 chars)

    4-plex community has a good Westheimer & Energy corridor location placing its tenants w/in minutes of over 35,000 sf of prime commercial space found in the Westchase/Memorial/Town&Country areas. Theproximity to Beltway 8,Westpark tollway & IH-10 allows the property to have access to most of the major employment areas of Houston as well as shopping & dinning. Unit mix:2 TH units w/ 2 bdrooms & 2 baths,2 flats w/ 3 bdrooms & 2 baths. Rents are: $800, $775,$775,$800. Potential rent increase.

20. 2010-11-05
    historical 521-char remark

    Show marketing remark (521 chars)

    4-plex community has a good Westheimer & Energy corridor location placing its tenants w/in minutes of over 35,000 sf of prime commercial space found in the Westchase/Memorial/Town&Country areas. Theproximity to Beltway 8,Westpark tollway & IH-10 allows the property to have access to most of the major employment areas of Houston as well as shopping & dinning. Unit mix:2 TH units w/ 2 bdrooms & 2 baths,2 flats w/ 3 bdrooms & 2 baths. Rents are: $800, $775,$775,$800. Potential rent increase.

21. 2010-02-09
    listed $245,500 521-char remark

    Show marketing remark (521 chars)

    4-plex community has a good Westheimer & Energy corridor location placing its tenants w/in minutes of over 35,000 sf of prime commercial space found in the Westchase/Memorial/Town&Country areas. Theproximity to Beltway 8,Westpark tollway & IH-10 allows the property to have access to most of the major employment areas of Houston as well as shopping & dinning. Unit mix:2 TH units w/ 2 bdrooms & 2 baths,2 flats w/ 3 bdrooms & 2 baths. Rents are: $800, $775,$775,$800. Potential rent increase.

22. 2010-01-01
    historical
23. 2009-02-13
    listed $263,000
24. 2005-05-05
    soldstatus
25. 2004-12-15
    soldstatus
26. 2000-01-31
    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: $14,852 · $1,238/mo
• Projected year-2 tax: $14,852 · $1,238/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 8/10 Severe FEMA zone X (shaded) · 78% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°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: $81,828
• − Mortgage interest: −$37,810
• − Property taxes: −$14,852
• − Insurance: −$4,172
• − Repairs & maintenance: −$6,546
• − Management: −$6,546
• − HOA: −$5,604
• − Depreciation: −$19,636
• Taxable loss: −$13,340
• Est. tax savings @ 24.0%: +$3,202
• After-tax cash flow: $740/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: Katy ISD
• NCES district ID: 4825170
• Math proficiency: 61% ▼ -7.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $90,312
• Composite: 56.59/100
• National rank: #1146
• State rank: #29 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): 37,276
• Household income: $101,995
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 1811.0

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 0.64)
• Race & ethnicity: White 55% Hispanic / Latino 20% Two or more races 15% Black 13% Asian 8%
• Hispanic origin (detail): Mexican 10% Cuban 1%
• Common ancestry: Lithuanian 4% Slovak 2% Italian 2%
• Foreign-born: 25% · Canada, Jamaica, China
• Languages at home: 69% English-only · Spanish 15% Other Indo-European 5% Chinese 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: ▼ -316.55%
• Current HPI: 286.7958
• Rent YoY: ▼ -0.80%
• 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

+156.7% since first listed

12 events — show timeline

• 2026-05-19 Listed $675,000 HARMLS
• 2022-05-24 Sold (Public Records) — Public Records
• 2022-02-01 Sold (Public Records) — Public Records
• 2010-12-27 Sold (Public Records) — Public Records
• 2010-12-23 Sold (MLS) — HARMLS
• 2010-11-05 Listing Removed — HARMLS
• 2010-02-09 Listed $245,500 HARMLS
• 2010-01-01 Listing Removed — HARMLS
• 2009-02-13 Listed $263,000 HARMLS
• 2005-05-05 Sold (Public Records) — Public Records
• 2004-12-15 Sold (Public Records) — Public Records
• 2000-01-31 Sold (Public Records) — Public Records

Property tax history

+8.0%/yr

Latest (2025): $14,852 · -6.4% YoY. Source: county tax records.