430 Rhode Island St · Houston, TX 77029

$375,000

6 bd · 4.0 ba · 2,374 sqft · MultiFamily · 32 Days on market

Built 2026 Good condition 2,500 sqft lot

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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 +13.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0

Multi-family units

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

Listing remarks

Modern duplex opportunity at 430 Rhode Island offering two units with 3 bedrooms and 2 bathrooms each, designed with brand new finishes and a sleek, contemporary feel throughout. Each unit features spacious bedrooms, spa-inspired bathrooms, and ambient lighting that creates a warm and elevated living experience. The layout includes one unit upstairs and one downstairs, ideal for flexibility and privacy. Conveniently located with quick access to major highways, making commuting throughout Houston simple and efficient. Property includes a private driveway and functional layout perfect for both owner-occupants and investors. Great opportunity to house hack by living in one unit and renting the

Key facts

• Brand new finishes
• Private driveway
• Functional layout

Tags

• MODERN DUPLEX OPPORTUNITY
• BRAND NEW FINISHES
• SPA INSPIRED BATHROOMS
• PRIVATE DRIVEWAY
• FUNCTIONAL LAYOUT

Property features AI

Exterior

• Home design: Residential income property; 2-unit building
• Construction: Built in 2026; Composition roof; Total building area about 2,374 square feet
• Exterior features: Lot includes other lot features

Interior

• Bathrooms: 2 full bathrooms
• Interior features: Under construction; New construction by Clayranch Homes

🏗️ New construction. The $375,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $370,344.

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $375k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-80 ($-956/yr) — negative. Per door: $-40/mo.
• To cash-flow at today's rent, offer at most $359k (4.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $322k (14.1% below list).
• Recommended offer: $322k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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.
• Galena Park ISD (suburban): math 32% / reading 33% proficiency, ranked #578 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Macarthur El (math 40% / reading 33%, grade F, #1,883 of 4,322 statewide, top 44%, 614 students, 89% FRL); Galena Park Middle (math 28% / reading 31%, grade F, #1,077 of 1,662 statewide, top 66%, 943 students, 88% FRL); Galena Park H S (math 37% / reading 36%, grade F, #924 of 1,632 statewide, top 57%, 1,914 students, 87% FRL).
• Market conditions: 154 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,223/mo this rent would consume 80% of the median local household income ($48k/yr) (locally 457% 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 $40k of equity ($3k loan paydown + $37k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $104k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$64k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $322,300 (14.1% 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 32 days. Have you received any prior offers? Is the seller open to a 14% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 6.25%
• Cash-on-cash: -0.15%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $370,344
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
328 Clearwater AB St	0.53mi	6/2.0	2,368 (-0%)	13mo	$369,900	$156	56
330 Clearwater AB St	0.53mi	6/2.0	2,368 (-0%)	13mo	$369,900	$156	56
405 Clearwater AB St	0.55mi	6/2.0	2,368 (-0%)	12mo	$369,900	$156	56
407 Clearwater AB St	0.55mi	6/2.0	2,368 (-0%)	12mo	$369,900	$156	56

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.6%
• Equity multiple: 2.90×
• Total profit: $196,716
• Equity at exit: $333,635

10-year hold

• IRR: 21.0%
• Equity multiple: 6.63×
• Total profit: $583,462
• Equity at exit: $719,497

Cash invested: $103,696 (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 77029

• Home prices YoY: 7.2%
• Active inventory: 154
• Price-to-rent: 19.4×

Monthly cashflow live

• Estimated rent: $3,223 high
• Mortgage (P&I): −$1,942
• Tax est. 1.5%: −$463 /mo · $5,555/yr
• Insurance: −$154
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$677
• Net cashflow: $-80

Break-even live

Break-even rent $3,324

Max offer price $358,818

Occupancy floor 97%

Sensitivity live

Price	-10% $176	-5% $48	+0% $-80	+5% $-208	+10% $-336
Rent	-10% $-334	-5% $-207	+0% $-80	+5% $48	+10% $175
Rate	-1.0pp $107	-0.5pp $15	base $-80	+0.5pp $-176	+1.0pp $-273

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,222
Total (2 units)			$3,223

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: $92,586
• Closing costs: $11,110
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 Armstrong St Houston, TX	5.0	2.0	1900	$2,000	$1.05	45d	1	0.24mi

Listing history 16 events

1. 2026-06-21
   days on market $375,000 Active 32 DOM
2. 2026-06-18
   days on market $375,000 Active 29 DOM
3. 2026-06-17
   days on market $375,000 Active 28 DOM
4. 2026-06-16
   days on market $375,000 Active 27 DOM
5. 2026-06-15
   days on market $375,000 Active 26 DOM
6. 2026-06-13
   days on market $375,000 Active 24 DOM
7. 2026-06-13
   days on market $375,000 Active 23 DOM
8. 2026-06-09
   days on market $375,000 Active 20 DOM
9. 2026-06-08
   days on market $375,000 Active 19 DOM
10. 2026-06-07
    days on market $375,000 Active 18 DOM
11. 2026-06-04
    days on market $375,000 Active 15 DOM
12. 2026-06-03
    days on market $375,000 Active 14 DOM
13. 2026-06-02
    days on market $375,000 Active 13 DOM
14. 2026-06-01
    days on market $375,000 Active 12 DOM
15. 2026-05-31
    days on market $375,000 Active 11 DOM
16. 2026-05-20
    listed $375,000 Active

ⓘ 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 7/10 Severe FEMA zone X (unshaded) · 95% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 21 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: $38,676
• − Mortgage interest: −$20,745
• − Property taxes: −$5,555
• − Insurance: −$2,649
• − Repairs & maintenance: −$3,094
• − Management: −$3,094
• − Depreciation: −$10,774
• Taxable loss: −$7,235
• Est. tax savings @ 24.0%: +$1,736
• After-tax cash flow: $781/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 · 2 photos

Good 80/100 Cosmetic rehab

This modern duplex is in excellent condition with no visible repairs needed. It offers a good investment opportunity with potential for minor cosmetic updates to enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value ↑

ⓘ 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: Galena Park ISD
• NCES district ID: 4820250
• Math proficiency: 32% ▼ -20.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $43,158
• Composite: 27.62/100
• National rank: #6927
• State rank: #578 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): 16,154
• Household income: $48,279
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 457.0

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: Predominantly Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 32% Black 22% White 5%
• Hispanic origin (detail): Mexican 66%
• Foreign-born: 31% · Canada
• Languages at home: 39% English-only · Spanish 61%

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: ▲ 18.53%
• Current HPI: 276.1811
• Rent YoY: —
• 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

1 event — show timeline

• 2026-05-20 Listed $375,000 HARMLS