9814 Masterson St · Houston, TX 77029

$179,900

3 bd · 2.0 ba · 1,198 sqft · SingleFamily public records · 125 Days on market

Built 2023 $150/sqft · 15% below area Est $213k · 15% under ↓ 20% since listing

---

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 +14.4/15.0
• Appreciation +10.0/10.0
• Cash flow +9.4/30.0
• 1% rule +4.0/10.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Beautiful new construction home just 10 to 15 minutes from Downtown Houston. This modern beauty is perfect as a starter home or investment property. It features three very spacious bedrooms, two full bathrooms, a walk in closet, and an open concept layout. Quartz countertops are featured in the kitchen and bathrooms along with stainless steel appliances. All furniture and appliances are included. All you need to do is move in. Call today to schedule your showing.

Key facts

• Quartz countertops
• Walk in closet
• Open concept layout

Tags

• NEW CONSTRUCTION HOME
• WALK IN CLOSET
• OPEN CONCEPT LAYOUT
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-127 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $157k (12.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (9.6% below list).
• Recommended offer: $157k (12.5% below list) — sets the bar for cash-flow.
• Cap rate 5.4% 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.
• 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.
• Market conditions: 153 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 40% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $19k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y ago; this cycle's ask has dropped $19k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $157,479 (12.5% 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 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 5.45%
• Cash-on-cash: -3.02%
• DSCR: 0.87
• GRM: 9.2

CMA / ARV

• ARV (median comp): $212,665
• List price: $179,900
• Delta: -15.41%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9721 Stedman St	0.18mi	3/2.0	1,265 (+6%)	2mo	$211,000	$167	80
9733 Signet St	0.11mi	3/2.0	1,277 (+7%)	10mo	$224,999	$176	76
3615 Harcroft St	0.29mi	3/2.0	1,156 (-4%)	20mo	$169,900	$147	64
10114 Fairfax St	0.47mi	3/1.0	1,124 (-6%)	8mo	$100,000	$89	57
10118 Fairfax St	0.48mi	3/1.0	1,089 (-9%)	4mo	$133,500	$123	55
9902 Cargill St	0.26mi	4/2.0 (+1)	1,300 (+8%)	23mo	$299,900	$231	50
10121 Fairfax St	0.50mi	3/2.0	1,120 (-6%)	24mo	$200,000	$179	46
10150 Fairfax St	0.52mi	4/2.0 (+1)	1,144 (-4%)	22mo	$218,999	$191	45
10226 Chadwick St	0.65mi	3/2.0	1,344 (+12%)	14mo	$219,000	$163	38
1516 Fidelity St	0.71mi	4/2.0 (+1)	1,352 (+13%)	21mo	$155,000	$115	23

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: 22.2%
• Equity multiple: 2.79×
• Total profit: $90,023
• Equity at exit: $162,068

10-year hold

• IRR: 19.9%
• Equity multiple: 6.39×
• Total profit: $271,713
• Equity at exit: $349,506

Cash invested: $50,372 (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: 153
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,626 high
• Mortgage (P&I): −$943
• Tax from tax record: −$393 /mo · $4,718/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $-127

Break-even live

Break-even rent $1,787

Max offer price $157,479

Occupancy floor —

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9710 Tuffly St Houston, TX	3.0	2.0	1275	$1,795	$1.41	24d	1	0.11mi
9713 Stedman St Unit b Houston, TX	3.0	2.0	872	$1,095	$1.26	43d	1	0.22mi
9806 Fillmore St Houston, TX	2.0	2.0	850	$1,850	$2.18	43d	1	0.25mi
9709 Cargill St Houston, TX	3.0	2.0	1184	$2,300	$1.94	43d	1	0.26mi
9821 Turnbow St Unit C Houston, TX	3.0	2.0	1140	$1,720	$1.51	43d	1	0.29mi
9743 Veyblum St Unit B Houston, TX	3.0	2.0	872	$1,145	$1.31	5d	1	0.34mi
9907 Lanewell St Unit a Houston, TX	3.0	2.0	872	$1,154	$1.32	22d	1	0.34mi
8726 Josie St Houston, TX	3.0	1.0	950	$1,000	$1.05	43d	1	0.97mi
10202 Challenger 7 Dr Unit 10259 Jacinto City, TX	2.0	2.0	900	$1,107	$1.23	2d	1	1.02mi
10202 Challenger 7 Dr Unit 424 Jacinto City, TX	2.0	2.0	900	$1,115	$1.24	5d	1	1.02mi
10202 Challenger 7 Dr Unit 422 Jacinto City, TX	2.0	2.0	900	$1,115	$1.24	7d	1	1.02mi
9701 Market St Houston, TX	1.0–2.0	1.0	798	$1,309	$1.64	7d	1	1.02mi
10202 Challenger 7 Dr Unit 2047 Jacinto City, TX	2.0	2.0	900	$1,150	$1.28	11d	1	1.03mi
10208 Challenger 7 Dr Jacinto City, TX	2.0	1.0	900	$1,190	$1.32	43d	1	1.03mi
8735 Cowart St Houston, TX	3.0	1.0	1136	$1,000	$0.88	43d	1	1.06mi
8534 Fillmore St Houston, TX	3.0	1.0	965	$1,600	$1.66	43d	1	1.12mi
335 Delaware St Houston, TX	2.0	1.0	784	$940	$1.20	12d	1	1.15mi
205 Bolden St Unit A Houston, TX	3.0	2.0	1200	$2,500	$2.08	43d	1	1.18mi
423 Armstrong St Houston, TX	3.0	2.0	1090	$1,515	$1.39	1d	1	1.24mi
403 Armstrong St Houston, TX	3.0	2.0	909	$1,435	$1.58	5d	1	1.24mi
311 Massachusetts St Unit A Houston, TX	3.0	2.0	1184	$1,700	$1.44	12d	1	1.43mi

Listing history 33 events

1. 2026-06-18
   days on market $179,900 Active 125 DOM
2. 2026-06-17
   days on market $179,900 Active 124 DOM
3. 2026-06-16
   days on market $179,900 Active 123 DOM
4. 2026-06-15
   days on market $179,900 Active 122 DOM
5. 2026-06-13
   days on market $179,900 Active 120 DOM
6. 2026-06-13
   days on market $179,900 Active 119 DOM
7. 2026-06-09
   days on market $179,900 Active 116 DOM
8. 2026-06-08
   days on market $179,900 Active 115 DOM
9. 2026-06-07
   days on market $179,900 Active 114 DOM
10. 2026-06-04
    days on market $179,900 Active 111 DOM
11. 2026-06-03
    days on market $179,900 Active 110 DOM
12. 2026-06-02
    days on market $179,900 Active 109 DOM
13. 2026-06-01
    days on market $179,900 Active 108 DOM
14. 2026-05-31
    days on market $179,900 Active 107 DOM
15. 2026-05-02
    price $179,900 467-char remark

    Show marketing remark (467 chars)

    Beautiful new construction home just 10 to 15 minutes from Downtown Houston. This modern beauty is perfect as a starter home or investment property. It features three very spacious bedrooms, two full bathrooms, a walk in closet, and an open concept layout. Quartz countertops are featured in the kitchen and bathrooms along with stainless steel appliances. All furniture and appliances are included. All you need to do is move in. Call today to schedule your showing.

16. 2026-02-26
    price $189,900 467-char remark

    Show marketing remark (467 chars)

    Beautiful new construction home just 10 to 15 minutes from Downtown Houston. This modern beauty is perfect as a starter home or investment property. It features three very spacious bedrooms, two full bathrooms, a walk in closet, and an open concept layout. Quartz countertops are featured in the kitchen and bathrooms along with stainless steel appliances. All furniture and appliances are included. All you need to do is move in. Call today to schedule your showing.

17. 2026-02-13
    listed $199,000 Active 467-char remark

    Show marketing remark (467 chars)

    Beautiful new construction home just 10 to 15 minutes from Downtown Houston. This modern beauty is perfect as a starter home or investment property. It features three very spacious bedrooms, two full bathrooms, a walk in closet, and an open concept layout. Quartz countertops are featured in the kitchen and bathrooms along with stainless steel appliances. All furniture and appliances are included. All you need to do is move in. Call today to schedule your showing.

18. 2025-09-02
    historical
19. 2025-08-15
    listed $240,000 Active
20. 2024-12-11
    soldstatus
21. 2024-05-22
    soldstatus
22. 2024-05-09
    soldstatus Sold
23. 2024-04-16
    status Pending
24. 2024-04-15
    status Option Pending
25. 2024-03-24
    status Pending
26. 2024-03-19
    status Option Pending
27. 2024-01-08
    listed $226,900 Active
28. 2023-10-20
    historical
29. 2023-09-01
    listed $224,900 Active
30. 2022-05-13
    soldstatus
31. 2002-08-08
    soldstatus
32. 2002-08-08
    soldstatus
33. 1988-01-02
    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: $4,718 · $393/mo
• Projected year-2 tax: $4,718 · $393/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 22 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: $19,513
• − Mortgage interest: −$10,077
• − Property taxes: −$4,718
• − Insurance: −$900
• − Repairs & maintenance: −$1,561
• − Management: −$1,561
• − Depreciation: −$5,233
• Taxable loss: −$4,537
• Est. tax savings @ 24.0%: +$1,089
• After-tax cash flow: $-434/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: 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

-20.0% since first listed

19 events — show timeline

• 2026-05-02 Price Changed $179,900 HARMLS
• 2026-02-26 Price Changed $189,900 HARMLS
• 2026-02-13 Listed $199,000 HARMLS
• 2025-09-02 Listing Removed — HARMLS
• 2025-08-15 Listed $240,000 HARMLS
• 2024-12-11 Sold (Public Records) — Public Records
• 2024-05-22 Sold (Public Records) — Public Records
• 2024-05-09 Sold (MLS) — HARMLS
• 2024-04-16 Pending — HARMLS
• 2024-04-15 Pending — HARMLS
• 2024-03-24 Pending — HARMLS
• 2024-03-19 Pending — HARMLS
• 2024-01-08 Listed $226,900 HARMLS
• 2023-10-20 Listing Removed — HARMLS
• 2023-09-01 Listed $224,900 HARMLS
• 2022-05-13 Sold (Public Records) — Public Records
• 2002-08-08 Sold (Public Records) — Public Records
• 2002-08-08 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+20.6%/yr

Latest (2025): $4,718 · -8.3% YoY. Source: county tax records.