1936 Upland Dr · Houston, TX 77043

$360,000

6 bd · 4.0 ba · 2,652 sqft · MultiFamily public records · 20 Days on market

Built 1983 2,038 sqft lot $136/sqft · 20% below area Est $448k · 20% under $160/mo HOA · 9% of rent

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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).

• ARV discount +15.0/15.0
• Cash flow +14.8/30.0
• 1% rule +5.0/10.0
• DSCR +4.5/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• 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: 2 units. confirmed

Listing remarks

GREAT INVESTMENT! Two identical units, #1936 and #1938, each with 3 bedrooms and 2 full bathrooms, make this updated duplex an excellent investment. Everything is recently updated, including the AC systems, roof, ensuring years of low-maintenance living. Each unit features modern finishes, functional layouts, and a bright, clean interior with no carpet—perfect for allergy sufferers. The floor plan offers one bedroom conveniently located downstairs and two upstairs for added privacy. Whether you live in one side and rent the other or lease both, this property is designed to generate consistent income. The location offers unmatched convenience—just minutes from I-10 and Beltway 8,

Key facts

• Updated duplex
• No carpet
• Modern finishes

Tags

• UPDATED DUPLEX
• MODERN FINISHES
• FUNCTIONAL LAYOUTS
• BRIGHT CLEAN INTERIOR
• NO CARPET
• ONE BEDROOM DOWNSTAIRS

Property features AI

Finance

• HOA & community: Monthly association fee of $160 covering common areas

Exterior

• Utilities: Has heating; Has cooling
• Home design: Residential income property; Faces west; Built in 1983
• Construction: Brick and wood siding construction
• Exterior features: Composition roof

Interior

• Kitchen: Dishwasher; Garbage disposal
• Bedrooms: Property contains 2 total units
• Flooring: Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Granite counters; Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $360k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/yr) — positive. Per door: $50/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $360k (0.1% below list).
• Recommended offer: $355k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.6% 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.
• Spring Branch ISD (urban): math 47% / reading 46% proficiency, ranked #215 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Sherwood El (math 26% / reading 34%, grade F, #2,500 of 4,322 statewide, top 58%, 460 students, 66% FRL); Spring Forest Middle (math 39% / reading 44%, grade F, #595 of 1,662 statewide, top 37%, 962 students, 56% FRL); Stratford H S (math 52% / reading 59%, grade C, #364 of 1,632 statewide, top 23%, 2,272 students, 33% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: Rents soft (-0.9%/yr); 202 active listings in the ZIP; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,597/mo this rent would consume 54% of the median local household income ($79k/yr) (locally 1667% 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 $2k of loan paydown is wiped out by about $11k 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 20 days — a 2% lower offer ($355k) is reasonable based on typical stale-listing flexibility.
• 8 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

• 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 $354,600 (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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.00% ✗
• Cap rate: 6.63%
• Cash-on-cash: 1.20%
• DSCR: 1.05
• GRM: 8.3

CMA / ARV

• ARV (median comp): $448,070
• List price: $360,000
• Delta: -14.08%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1908 Upland Dr	0.03mi	6/2.0	2,652 (0%)	20mo	$365,000	$138	74

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -18.1%
• Equity multiple: 0.38×
• Total profit: $-62,238
• Equity at exit: $53,677

10-year hold

• IRR: -18.5%
• Equity multiple: 0.15×
• Total profit: $-85,804
• Equity at exit: $31,126

Cash invested: $100,800 (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 77043

• Rents YoY: -0.9%
• Active inventory: 202
• Price-to-rent: 16.7×

Monthly cashflow live

• Estimated rent: $3,597 high
• Mortgage (P&I): −$1,888
• Tax from tax record: −$543 /mo · $6,514/yr
• Insurance: −$150
• HOA: −$160
• Vacancy / Maint / Mgmt: −$755
• Net cashflow: $101

Break-even live

Break-even rent $3,469

Max offer price $360,000

Occupancy floor 92%

Sensitivity live

Price	-10% $305	-5% $203	+0% $101	+5% $-1	+10% $-103
Rent	-10% $-183	-5% $-41	+0% $101	+5% $243	+10% $385
Rate	-1.0pp $282	-0.5pp $193	base $101	+0.5pp $8	+1.0pp $-87

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,598
Total (2 units)			$3,597

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $160 · $1,920/yr

Listing history 34 events

1. 2026-06-21
   days on market $360,000 Active 20 DOM
2. 2026-06-18
   days on market $360,000 Active 17 DOM
3. 2026-06-17
   days on market $360,000 Active 16 DOM
4. 2026-06-16
   days on market $360,000 Active 15 DOM
5. 2026-06-16
   status $360,000 Active 14 DOM
6. 2026-06-13
   statusdays on market $360,000 Pending 14 DOM
7. 2026-06-09
   days on market $360,000 Active Under Contract 12 DOM
8. 2026-06-08
   days on market $360,000 Active Under Contract 11 DOM
9. 2026-06-07
   statusdays on market $360,000 Active Under Contract 10 DOM
10. 2026-06-04
    days on market $360,000 Active 7 DOM
11. 2026-06-03
    days on market $360,000 Active 6 DOM
12. 2026-06-02
    days on market $360,000 Active 5 DOM
13. 2026-06-01
    days on market $360,000 Active 4 DOM
14. 2026-05-31
    days on market $360,000 Active 3 DOM
15. 2026-05-03
    price $385,000 583-char remark
16. 2026-04-10
    price $399,999 583-char remark
17. 2026-03-03
    listed $425,000 Active 583-char remark
18. 2025-12-29
    historical
19. 2025-12-10
    listed $440,000 Active
20. 2025-12-01
    historical $1,600
21. 2025-10-18
    price $1,600
22. 2025-09-28
    listed $1,700
23. 2024-10-28
    soldstatus
24. 2020-08-20
    soldstatus
25. 2020-08-18
    soldstatus Sold
26. 2020-07-11
    status Pending
27. 2020-06-30
    status Option Pending
28. 2020-06-25
    listed $240,000 Active
29. 2010-10-20
    soldstatus
30. 2010-10-15
    soldstatus
31. 2010-09-04
    historical
32. 2010-08-25
    listed $135,000
33. 2010-08-24
    historical
34. 2009-11-12
    listed $142,990

ⓘ 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: $6,514 · $543/mo
• Projected year-2 tax: $6,588 · $549/mo
• Expected delta: +$74/yr (+$6/mo · 1.1%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°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: $43,164
• − Mortgage interest: −$20,166
• − Property taxes: −$6,514
• − Insurance: −$1,800
• − Repairs & maintenance: −$3,453
• − Management: −$3,453
• − HOA: −$1,920
• − Depreciation: −$10,473
• Taxable loss: −$4,614
• Est. tax savings @ 24.0%: +$1,107
• After-tax cash flow: $2,319/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: Spring Branch ISD
• NCES district ID: 4841100
• Math proficiency: 47% ▼ -4.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $60,311
• Composite: 40.88/100
• National rank: #3624
• State rank: #215 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): 29,048
• Household income: $79,359
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1667.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 44% White 37% Two or more races 25% Black 8% Asian 6%
• Hispanic origin (detail): Mexican 24% Puerto Rican 3%
• Common ancestry: Lithuanian 3% Slovak 2% Romanian 2%
• Foreign-born: 31% · Canada, China, Vietnam
• Languages at home: 52% English-only · Spanish 36% French/Haitian/Cajun 2% Vietnamese 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: ▼ -283.51%
• Current HPI: 286.4053
• Rent YoY: ▼ -0.86%
• 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

+151.8% since first listed

25 events — show timeline

• 2026-06-15 Relisted — HARMLS
• 2026-06-11 Pending — HARMLS
• 2026-06-06 Contingent — HARMLS
• 2026-05-28 Listing Removed — HARMLS
• 2026-05-28 Listed $360,000 HARMLS
• 2026-05-03 Price Changed $385,000 HARMLS
• 2026-04-10 Price Changed $399,999 HARMLS
• 2026-03-03 Listed $425,000 HARMLS
• 2025-12-29 Listing Removed — HARMLS
• 2025-12-10 Listed $440,000 HARMLS
• 2025-12-01 Rental Removed $1,600 HARMLS
• 2025-10-18 Price Changed $1,600 HARMLS
• 2025-09-28 Listed for Rent $1,700 HARMLS
• 2024-10-28 Sold (Public Records) — Public Records
• 2020-08-20 Sold (Public Records) — Public Records
• 2020-08-18 Sold (MLS) — HARMLS
• 2020-07-11 Pending — HARMLS
• 2020-06-30 Pending — HARMLS
• 2020-06-25 Listed $240,000 HARMLS
• 2010-10-20 Sold (Public Records) — Public Records
• 2010-10-15 Sold (MLS) — HARMLS
• 2010-09-04 Listing Removed — HARMLS
• 2010-08-25 Listed $135,000 HARMLS
• 2010-08-24 Listing Removed — HARMLS
• 2009-11-12 Listed $142,990 HARMLS

Property tax history

+8.3%/yr

Latest (2025): $6,514 · -15.3% YoY. Source: county tax records.