6307 W Gulf Bank Rd #16 · Houston, TX 77088

$1,450,000

32 bd · None ba · 4,464 sqft · MultiFamily public records · 83 Days on market

Built 1984 0.95 ac lot $325/sqft · 153% above area

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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 +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

16-unit multifamily property on ±0.95-acre reserve tract in Northwest Houston. Four low-rise buildings totaling ±17,856 SF, built in 1984 and renovated in 2008. Two-bedroom units averaging ±1,116 SF with on-site parking and strong access to major corridors. Located in a stable workforce housing area with consistent rental demand.

Key facts

• Multifamily property
• On-site parking
• 0.95 acre lot

Tags

• MULTIFAMILY PROPERTY
• ON-SITE PARKING
• STABLE WORKFORCE HOUSING AREA
• CONSISTENT RENTAL DEMAND

What this means for you Summary

Snapshot

• This is a 32-bed/?-bath multifamily listed at $1.45M.

Deal economics

• At list price, monthly cash flow is $4k ($53k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $1.45M).
• Recommended offer: $1.36M (6.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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: schools D, crime F.
• Aldine ISD (suburban): math 16% / reading 21% proficiency, ranked #790 of 826 in TX (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.0%/yr); 468 active listings in the ZIP; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $19,917/mo this rent would consume 439% of the median local household income ($54k/yr) (locally 2294% 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 $10k of loan paydown is wiped out by about $44k 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 83 days — a 6% lower offer ($1.36M) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 13y 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: property tax is 2.5% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,363,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.37% ✓
• Cap rate: 9.98%
• Cash-on-cash: 13.17%
• DSCR: 1.59
• GRM: 6.1

CMA / ARV

• ARV (median comp): $573,881
• List price: $1,450,000
• Delta: 152.67%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.6%
• Equity multiple: 0.98×
• Total profit: $-8,428
• Equity at exit: $216,200

10-year hold

• IRR: 5.4%
• Equity multiple: 1.34×
• Total profit: $136,925
• Equity at exit: $125,369

Cash invested: $406,000 (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 77088

• Home prices YoY: -23.2%
• Rents YoY: -1.0%
• Active inventory: 468
• Price-to-rent: 97.1×

Monthly cashflow live

• Estimated rent: $19,917 medium
• Mortgage (P&I): −$7,604
• Tax from tax record: −$3,070 /mo · $36,839/yr
• Insurance: −$604
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,183
• Net cashflow: $4,456

Break-even live

Break-even rent $14,276

Max offer price $1,450,000

Occupancy floor 73%

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

Units	Beds	Baths	Est. rent
▸ 16× units	2	1	$19,920
Total (16 units)			$19,917

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: $362,500
• Closing costs: $43,500
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $1,450,000 Active 83 DOM
2. 2026-06-17
   days on market $1,450,000 Active 82 DOM
3. 2026-06-16
   days on market $1,450,000 Active 81 DOM
4. 2026-06-15
   days on market $1,450,000 Active 80 DOM
5. 2026-06-13
   days on market $1,450,000 Active 78 DOM
6. 2026-06-13
   days on market $1,450,000 Active 77 DOM
7. 2026-06-09
   days on market $1,450,000 Active 74 DOM
8. 2026-06-08
   days on market $1,450,000 Active 73 DOM
9. 2026-06-07
   days on market $1,450,000 Active 72 DOM
10. 2026-06-04
    days on market $1,450,000 Active 69 DOM
11. 2026-06-03
    days on market $1,450,000 Active 68 DOM
12. 2026-06-02
    days on market $1,450,000 Active 67 DOM
13. 2026-06-01
    days on market $1,450,000 Active 66 DOM
14. 2026-05-31
    days on market $1,450,000 Active 65 DOM
15. 2026-03-27
    listed $1,500,000 Active 352-char remark

    Show marketing remark (352 chars)

    16-unit multifamily property on ±0.95-acre reserve tract in Northwest Houston. Four low-rise buildings totaling ±17,856 SF, built in 1984 and renovated in 2008. Two-bedroom units averaging ±1,116 SF with on-site parking and strong access to major corridors. Located in a stable workforce housing area with consistent rental demand.

16. 2014-02-26
    soldstatus
17. 2013-11-22
    historical
18. 2013-11-19
    listed $775,000 Active
19. 2013-09-02
    historical
20. 2013-08-26
    listed $775,000 Active
21. 2013-08-26
    historical
22. 2013-08-23
    status Active
23. 2013-08-03
    status Option Pending
24. 2013-07-31
    status Active
25. 2013-06-27
    status Pending
26. 2013-05-04
    status Pending, Continue to Show
27. 2013-04-08
    status Option Pending
28. 2013-03-25
    listed $775,000 Active
29. 2012-01-26
    soldstatus
30. 2007-12-20
    soldstatus
31. 1988-07-01
    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: $36,839 · $3,070/mo
• Projected year-2 tax: $36,839 · $3,070/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $239,004
• − Mortgage interest: −$81,223
• − Property taxes: −$36,839
• − Insurance: −$7,250
• − Repairs & maintenance: −$19,120
• − Management: −$19,120
• − Depreciation: −$42,182
• Taxable income: $33,270
• Est. tax owed @ 24.0%: −$7,985
• After-tax cash flow: $45,492/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: Aldine ISD
• NCES district ID: 4807710
• Math proficiency: 16% ▼ -23.00%
• Reading proficiency: 21% ▼ -11.00%
• Median HH income: $37,081
• Composite: 15.42/100
• National rank: #9317
• State rank: #790 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

• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 57,047
• Household income: $54,411
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 2294.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 52% Black 37% Two or more races 18% White 6% Asian 4%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Lithuanian 1%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 49% English-only · Spanish 47% Vietnamese 3%

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: ▼ -98.37%
• Current HPI: 325.0499
• Rent YoY: ▼ -1.01%
• 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

+93.5% since first listed

17 events — show timeline

• 2026-03-27 Listed $1,500,000 HARMLS
• 2014-02-26 Sold (Public Records) — Public Records
• 2013-11-22 Listing Removed — HARMLS
• 2013-11-19 Listed $775,000 HARMLS
• 2013-09-02 Listing Removed — HARMLS
• 2013-08-26 Listed $775,000 HARMLS
• 2013-08-26 Listing Removed — HARMLS
• 2013-08-23 Relisted — HARMLS
• 2013-08-03 Pending — HARMLS
• 2013-07-31 Relisted — HARMLS
• 2013-06-27 Pending — HARMLS
• 2013-05-04 Pending — HARMLS
• 2013-04-08 Pending — HARMLS
• 2013-03-25 Listed $775,000 HARMLS
• 2012-01-26 Sold (Public Records) — Public Records
• 2007-12-20 Sold (Public Records) — Public Records
• 1988-07-01 Sold (Public Records) — Public Records

Property tax history

+6.7%/yr

Latest (2025): $36,839 · +20.6% YoY. Source: county tax records.