2321 Ann St · Houston, TX 77003

$339,000

2 bd · 2.0 ba · 2,197 sqft · SingleFamily public records · 83 Days on market

Built 2004 2,178 sqft lot Est $439k · 23% under $129/mo HOA · 4% 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).

• ARV discount +15.0/15.0
• Cash flow +11.2/30.0
• 1% rule +4.8/10.0
• Livability +3.7/5.0
• DSCR +3.3/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

These beautiful homes don't come available often. Close proximity to downtown, great dining, nightlife, and near many Houston attractions. Charming, freestanding patio home with three bedrooms and three baths! Interior freshly painted, well maintained and ready for you to make this your home!

Key facts

• Well maintained
• 2,178 sq ft lot
• 2 garage spots

Tags

• FREESTANDING PATIO HOME
• INTERIOR FRESHLY PAINTED
• WELL MAINTAINED

Property features AI

Finance

• HOA & community: Bayou Landing HOA; Gated community with controlled access; Annual association fee of $1,545 covering common areas

Exterior

• Parking: Attached 2-car garage
• Security: Security gate; Controlled access
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 2004; Slab foundation; Composition roof
• Construction: Brick and cement siding construction; Built in 2004
• Exterior features: Fenced backyard

Interior

• Kitchen: Gas oven; Gas range; Refrigerator
• Bedrooms: Primary bedroom (Third level); Bedroom (First level); Bedroom (Third level)
• Flooring: Carpet; Tile
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (Gas); Central air conditioning (Electric)
• Interior features: Double vanity; Kitchen/family room combo; Tub with shower; Ceiling fan(s)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $339k.

Deal economics

• At list price, monthly cash flow is $-133 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $316k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $332k (2.2% below list).
• Recommended offer: $316k (6.9% below list) — sets the bar for cash-flow.
• Cap rate 5.8% vs local median 3.1% 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.
• 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.
• Zoned schools: Navarro Middle (math 8% / reading 13%, grade F, #1,639 of 1,662 statewide, top 99%, 547 students, 98% FRL); Wheatley H S (math 17% / reading 19%, grade F, #1,445 of 1,632 statewide, top 89%, 643 students, 95% FRL) — zoned schools average 97% FRL vs 71% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 14% at this address vs 31% district-wide (-17 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.6%/yr); 206 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,316/mo this rent would consume 47% of the median local household income ($84k/yr) (locally 572% 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 $10k 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 ($319k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 19y 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: major flood risk; 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 $315,557 (6.9% 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 83 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.68%
• DSCR: 0.93
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $439,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2321 Ann St	0.00mi	3/3.0 (+1)	2,197 (0%)	1mo	$339,000	$154	90
331 N Nagle St	0.28mi	3/3.5 (+1)	2,302 (+5%)	2mo	$475,000	$206	66
311 Eado Park Cir	0.38mi	3/3.5 (+1)	2,233 (+2%)	6mo	$415,000	$186	64
2706 Fox St	0.30mi	3/3.5 (+1)	2,012 (-8%)	1mo	$499,900	$248	60
407 Grove St Unit B	0.61mi	3/3.5 (+1)	2,220 (+1%)	4mo	$429,999	$194	55
3306 Cline St	0.65mi	3/3.5 (+1)	2,154 (-2%)	1mo	$390,000	$181	54
2851 Decker Pl	0.41mi	3/3.5 (+1)	2,401 (+9%)	3mo	$480,000	$200	52
312 Eado Park Cir	0.44mi	3/3.5 (+1)	2,388 (+9%)	5mo	$450,000	$188	50
3209 Baer St Unit B	0.68mi	3/3.5 (+1)	1,996 (-9%)	1mo	$464,900	$233	41
3209 Baer St Unit A	0.68mi	3/3.5 (+1)	1,990 (-9%)	1mo	$464,900	$234	41
411 Grove St Unit C	0.62mi	3/2.5 (+1)	1,903 (-13%)	2mo	$375,000	$197	40
315 Middleton St	0.68mi	3/3.5 (+1)	2,490 (+13%)	5mo	$589,000	$237	31

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: -23.0%
• Equity multiple: 0.23×
• Total profit: $-72,801
• Equity at exit: $50,546

10-year hold

• IRR: -31.1%
• Equity multiple: -0.17×
• Total profit: $-110,609
• Equity at exit: $29,311

Cash invested: $94,920 (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 77003

• Home prices YoY: -29.2%
• Rents YoY: -1.6%
• Active inventory: 206
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $3,316 high
• Mortgage (P&I): −$1,778
• Tax from tax record: −$704 /mo · $8,454/yr
• Insurance: −$141
• HOA: −$129
• Vacancy / Maint / Mgmt: −$696
• Net cashflow: $-133

Break-even live

Break-even rent $3,484

Max offer price $315,557

Occupancy floor 99%

Sensitivity live

Price	-10% $59	-5% $-37	+0% $-133	+5% $-229	+10% $-325
Rent	-10% $-395	-5% $-264	+0% $-133	+5% $-2	+10% $129
Rate	-1.0pp $38	-0.5pp $-46	base $-133	+0.5pp $-221	+1.0pp $-310

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: $84,750
• Closing costs: $10,170
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2115 Runnels St Unit 2148 Houston, TX	3.0	2.0	1839	$3,045	$1.66	11d	1	0.12mi
2115 Runnels St Unit 3187 Houston, TX	3.0	2.0	1839	$3,051	$1.66	0d	1	0.12mi
2115 Runnels St Unit 3174 Houston, TX	3.0	2.0	1839	$3,056	$1.66	12d	1	0.12mi
2414 East Dr Unit Canal St unit Houston, TX	3.0	3.5	2063	$2,950	$1.43	8d	1	0.27mi
15 N Chenevert St Houston, TX	2.0	1.0–2.0	1351	$4,000	$2.96	0d	16	0.45mi
2905 Baer St Unit 1047953P Houston, TX	3.0	2.5	1991	$3,094	$1.55	6d	1	0.56mi
611 Sydnor St Houston, TX	3.0	4.0	2157	$2,400	$1.11	44d	1	0.59mi
308 Grove St Houston, TX	3.0	3.0	1701	$2,350	$1.38	8d	1	0.62mi
3419 Gillespie St Houston, TX	3.0	3.5	2168	$2,300	$1.06	44d	1	0.75mi
3410 Baer St Houston, TX	3.0	4.0	2040	$3,500	$1.72	44d	1	0.75mi
2504 Rusk St Unit 1563174P Houston, TX	2.0	2.0	1819	$4,036	$2.22	3d	1	0.81mi
1475 Texas St Houston, TX	3.0	1.0–2.0	1304	$4,847	$3.72	44d	28	0.84mi
2816 Rusk St Houston, TX	3.0	3.5	2107	$2,800	$1.33	44d	1	0.87mi
1303 Bayou St Unit C Houston, TX	3.0	3.0	1869	$3,200	$1.71	44d	1	0.91mi
1307 Bayou St Unit B Houston, TX	3.0	3.0	1814	$2,400	$1.32	8d	1	0.92mi
1757 Walker St Houston, TX	2.0	2.0	1575	$4,350	$2.76	25d	1	0.93mi
808 Crawford St Houston, TX	1.0–3.0	1.0–3.5	1740	$7,281	$4.18	0d	29	0.94mi
409 Travis St Unit 424 Houston, TX	2.0	2.0	1495	$3,292	$2.20	8d	1	1.03mi
409 Travis St Unit 425 Houston, TX	2.0	2.0	1495	$3,322	$2.22	0d	1	1.03mi
409 Travis St Unit 432 Houston, TX	2.0	2.0	1495	$3,316	$2.22	11d	1	1.03mi
413 Travis St Houston, TX	2.0	2.0	1495	$4,000	$2.68	44d	1	1.05mi
915 Texas Ave Unit 420 Houston, TX	3.0	2.0	2366	$4,655	$1.97	19d	1	1.05mi
915 Texas Ave Unit 420 Houston, TX	3.0	2.0	2366	$4,655	$1.97	44d	1	1.05mi
717 Fannin St Houston, TX	2.0	2.0	1700	$3,800	$2.24	44d	1	1.06mi
909 Texas Ave Houston, TX	2.0	1.0–2.0	1262	$3,129	$2.48	2d	36	1.07mi
1111 Rusk St Houston, TX	1.0–2.0	1.0–2.5	1145	$2,835	$2.48	0d	27	1.07mi
1406 McKinney St Houston, TX	2.0	2.0	1987	$5,075	$2.55	25d	1	1.08mi
1400 McKinney St Houston, TX	1.0–2.0	1.0–2.5	2166	$12,100	$5.59	0d	9	1.08mi
414 Milam St Ph 2-4602 Houston, TX	2.0	2.0	2158	$8,990	$4.17	44d	1	1.10mi
414 Milam St Unit B1-2003 Houston, TX	2.0	2.0	1585	$4,513	$2.85	44d	1	1.10mi
414 Milam St Houston, TX	2.0	2.5	1585	$3,845	$2.43	22d	1	1.10mi
3226 McKinney St Houston, TX	3.0	3.0	2274	$2,500	$1.10	44d	1	1.10mi
1513 Cage St Houston, TX	3.0	2.0	1467	$1,550	$1.06	44d	1	1.12mi
414 Milam St Unit 422 Houston, TX	2.0	2.0	1585	$3,833	$2.42	8d	1	1.13mi
414 Milam St Unit 2187 Houston, TX	2.0	2.0	1585	$3,857	$2.43	3d	1	1.13mi
414 Milam St Unit 437 Houston, TX	2.0	2.0	1585	$3,857	$2.43	11d	1	1.13mi
414 Milam St Unit 2165 Houston, TX	2.0	2.0	1585	$3,868	$2.44	5d	1	1.13mi
414 Milam St Unit 2148 Houston, TX	2.0	2.0	1585	$3,863	$2.44	0d	1	1.13mi
414 Milam St Unit 447 Houston, TX	3.0	2.0	2421	$8,991	$3.71	11d	1	1.13mi
414 Milam St Unit 447 Houston, TX	3.0	2.0	2421	$8,973	$3.71	44d	1	1.13mi

HOA detail

• Monthly dues: $129 · $1,548/yr

Listing history 13 events

1. 2026-05-22
   soldstatus Closed
2. 2026-05-13
   status Pending
3. 2026-04-28
   status Pending
4. 2026-03-24
   price $339,000
5. 2026-02-19
   listed $349,500 Active
6. 2014-07-07
   historical
7. 2014-07-07
   soldstatus
8. 2014-07-07
   listed $285,000
9. 2014-07-07
   soldstatus
10. 2011-11-15
    historical
11. 2011-10-11
    listed $239,900
12. 2008-03-01
    historical
13. 2007-12-20
    listed $245,000

ⓘ 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: $8,454 · $704/mo
• Projected year-2 tax: $8,454 · $704/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 6/10 Major FEMA zone X (unshaded) · 27% 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 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: $39,794
• − Mortgage interest: −$18,989
• − Property taxes: −$8,454
• − Insurance: −$1,695
• − Repairs & maintenance: −$3,184
• − Management: −$3,184
• − HOA: −$1,548
• − Depreciation: −$9,862
• Taxable loss: −$7,121
• Est. tax savings @ 24.0%: +$1,709
• After-tax cash flow: $117/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: 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): 10,164
• Household income: $83,980
• Rent vs Own: 59.0% rent · 41.0% own
• Severe rent burden: 572.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 35% White 33% Black 21% Two or more races 20% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 24% Puerto Rican 2% Cuban 2%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 15% · Canada, South Korea, Jamaica
• Languages at home: 69% English-only · Spanish 27% Korean 2% Other Asian/Pacific 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: ▼ -53.64%
• Current HPI: 130.0078
• Rent YoY: ▼ -1.65%
• 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

+38.4% since first listed

13 events — show timeline

• 2026-05-22 Sold (MLS) — HARMLS
• 2026-05-13 Pending — HARMLS
• 2026-04-28 Pending — HARMLS
• 2026-03-24 Price Changed $339,000 HARMLS
• 2026-02-19 Listed $349,500 HARMLS
• 2014-07-07 Listing Removed — HARMLS
• 2014-07-07 Sold (Public Records) — Public Records
• 2014-07-07 Listed $285,000 HARMLS
• 2014-07-07 Sold (MLS) — HARMLS
• 2011-11-15 Listing Removed — HARMLS
• 2011-10-11 Listed $239,900 HARMLS
• 2008-03-01 Listing Removed — HARMLS
• 2007-12-20 Listed $245,000 HARMLS

Property tax history

+2.4%/yr

Latest (2025): $8,454 · +3.6% YoY. Source: county tax records.