7123 Bywood St · Houston, TX 77028

$399,999

6 bd · 5.0 ba · 2,304 sqft · MultiFamily public records · 127 Days on market

Built 2024 Good condition 4,200 sqft lot $174/sqft · at area comps Est $385k · at est.

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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 +14.8/30.0
• Appreciation +7.6/10.0
• ARV discount +5.8/15.0
• DSCR +4.5/10.0
• Condition / age +4.0/5.0
• 1% rule +3.7/10.0
• 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 MLS

Turnkey, income-producing duplex with immediate rental potential. Currently operating as a long-term rental, this property offers instant cash flow with strong upside for investors looking to expand their portfolio. Each unit features 3 bedrooms and 2 1/2 bathrooms with a bright, modern open-concept floor plan. The kitchen, dining, and living areas flow together seamlessly, creating a spacious and functional layout. A secondary bedroom downstairs offers flexibility for guests, a home office, or additional living needs, while the upstairs primary suite includes a private en-suite bath for added comfort. Both units include private fenced yards and two dedicated off-street parking spaces, making this an attractive option for long-term tenants. Investor-ready and low-maintenance — additional identical, fully rented duplexes are also available. Contact listing agent for full package details.

Key facts

• Investor ready
• Private fenced yards
• 4,200 sq ft lot

Tags

• INCOME PRODUCING DUPLEX
• IMMEDIATE RENTAL POTENTIAL
• BRIGHT MODERN OPEN CONCEPT
• PRIVATE FENCED YARDS
• DEDICATED OFF STREET PARKING
• INVESTOR READY

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.5-bath units multifamily listed at $400k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $109 ($1k/yr) — positive. Per door: $55/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 $348k (13.0% below list).
• Recommended offer: $348k (13.0% below list) — sets the bar for 1% rule.
• 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: schools D, 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.
• Market conditions: Rents soft (-1.6%/yr); 353 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,478/mo this rent would consume 109% of the median local household income ($38k/yr) (locally 1177% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $24k of equity ($3k loan paydown + $21k 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 $112k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 127 days — a 12% lower offer ($352k) is reasonable based on typical stale-listing flexibility.

Recommended offer $347,800 (13.0% below list)

Questions for the listing agent

1. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 13% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
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: 0.87% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.17%
• DSCR: 1.05
• GRM: 9.6

CMA / ARV

• ARV (median comp): $385,309
• List price: $399,999
• Delta: 3.81%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8705 Westcott Rd Unit A	0.13mi	6/4.0	2,550 (+11%)	15mo	$395,990	$155	59
7504 Laura Koppe Rd Unit A and B	0.52mi	6/—	2,473 (+7%)	10mo	$390,000	$158	56
9024 Sherbourne St	0.45mi	6/2.0	2,332 (+1%)	17mo	$410,000	$176	50

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: 13.2%
• Equity multiple: 1.84×
• Total profit: $94,554
• Equity at exit: $232,651

10-year hold

• IRR: 13.0%
• Equity multiple: 3.32×
• Total profit: $259,843
• Equity at exit: $406,555

Cash invested: $112,000 (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 77028

• Home prices YoY: 2.0%
• Rents YoY: -1.6%
• Active inventory: 353
• Price-to-rent: 19.2×

Monthly cashflow live

• Estimated rent: $3,478 high
• Mortgage (P&I): −$2,098
• Tax from tax record: −$374 /mo · $4,488/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$730
• Net cashflow: $109

Break-even live

Break-even rent $3,340

Max offer price $399,999

Occupancy floor 92%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2.5	$3,478
Total (2 units)			$3,478

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: $100,000
• Closing costs: $12,000
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8117 Richland Dr Houston, TX	5.0	2.0	1671	$1,983	$1.19	1d	1	1.30mi

Listing history 15 events

1. 2026-06-18
   days on market $399,999 Active 127 DOM
2. 2026-06-17
   days on market $399,999 Active 126 DOM
3. 2026-06-16
   days on market $399,999 Active 125 DOM
4. 2026-06-15
   days on market $399,999 Active 124 DOM
5. 2026-06-13
   days on market $399,999 Active 122 DOM
6. 2026-06-10
   days on market $399,999 Active 118 DOM
7. 2026-06-08
   days on market $399,999 Active 117 DOM
8. 2026-06-07
   days on market $399,999 Active 116 DOM
9. 2026-06-04
   days on market $399,999 Active 113 DOM
10. 2026-06-01
    days on market $399,999 Active 110 DOM
11. 2026-05-31
    days on market $399,999 Active 109 DOM
12. 2026-02-18
    price $399,999 914-char remark

    Show marketing remark (914 chars)

    Turnkey, income-producing duplex with immediate rental potential. Currently operating as a long-term rental, this property offers instant cash flow with strong upside for investors looking to expand their portfolio. Each unit features 3 bedrooms and 2 1/2 bathrooms with a bright, modern open-concept floor plan. The kitchen, dining, and living areas flow together seamlessly, creating a spacious and functional layout. A secondary bedroom downstairs offers flexibility for guests, a home office, or additional living needs, while the upstairs primary suite includes a private en-suite bath for added comfort. Both units include private fenced yards and two dedicated off-street parking spaces, making this an attractive option for long-term tenants. Investor-ready and low-maintenance — additional identical, fully rented duplexes are also available. Contact listing agent for full package details.

13. 2026-02-11
    listed $375,000 Active 914-char remark

    Show marketing remark (914 chars)

    Turnkey, income-producing duplex with immediate rental potential. Currently operating as a long-term rental, this property offers instant cash flow with strong upside for investors looking to expand their portfolio. Each unit features 3 bedrooms and 2 1/2 bathrooms with a bright, modern open-concept floor plan. The kitchen, dining, and living areas flow together seamlessly, creating a spacious and functional layout. A secondary bedroom downstairs offers flexibility for guests, a home office, or additional living needs, while the upstairs primary suite includes a private en-suite bath for added comfort. Both units include private fenced yards and two dedicated off-street parking spaces, making this an attractive option for long-term tenants. Investor-ready and low-maintenance — additional identical, fully rented duplexes are also available. Contact listing agent for full package details.

14. 2025-02-07
    soldstatus
15. 2024-10-18
    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: $4,488 · $374/mo
• Projected year-2 tax: $7,320 · $610/mo
• Expected delta: +$2,831/yr (+$236/mo · 63.1%)

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

Taxation est. · year 1

• Rental income: $41,736
• − Mortgage interest: −$22,406
• − Property taxes: −$4,488
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,339
• − Management: −$3,339
• − Depreciation: −$11,636
• Taxable loss: −$5,473
• Est. tax savings @ 24.0%: +$1,313
• After-tax cash flow: $2,625/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 · 6 photos

Good 80/100 Cosmetic rehab

This turnkey, income-producing duplex is in excellent condition with modern amenities and a well-maintained exterior. It offers immediate rental potential and strong upside for investors looking to expand their portfolio.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value.
• Rental HVAC maintenance — A properly maintained HVAC system ensures comfort and reduces utility costs for tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value. ↑
• Rental HVAC maintenance — A properly maintained HVAC system ensures comfort and reduces utility costs for tenants. ↑

ⓘ 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

+6.7% since first listed

4 events — show timeline

• 2026-02-18 Price Changed $399,999 HARMLS
• 2026-02-11 Listed $375,000 HARMLS
• 2025-02-07 Sold (Public Records) — Public Records
• 2024-10-18 Sold (Public Records) — Public Records