4608 White Rock St · Houston, TX 77051

$135,000

3 bd · 2.0 ba · 2,344 sqft · Townhouse public records · 212 Days on market

Built 1940 5,248 sqft lot $58/sqft · 53% below area ↓ 10% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Duplex, with 2 separate, full living spaces. White, one-story, wooden, gated, stand alone duplex. Perfect investment opportunity!

Key facts

• Built 1940
• Listed 211 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $135k.

Deal economics

• At list price, monthly cash flow is $961 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.8% 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: 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 rising fast (+4.8%/yr); 312 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 63% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $2,512/mo this rent would consume 81% of the median local household income ($37k/yr) (locally 1446% 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 $14k of equity ($933 loan paydown + $14k 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 + 4.8% rent growth), your $38k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 212 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 212 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.86% ✓
• Cap rate: 14.83%
• Cash-on-cash: 30.51%
• DSCR: 2.36
• GRM: 4.5

CMA / ARV

• ARV (median comp): $285,279
• List price: $135,000
• Delta: -52.68%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

10.0% appreciation · 4.77% rent growth · sell at horizon

5-year hold

• IRR: 48.7%
• Equity multiple: 4.69×
• Total profit: $139,371
• Equity at exit: $121,619

10-year hold

• IRR: 43.2%
• Equity multiple: 10.85×
• Total profit: $372,408
• Equity at exit: $262,275

Cash invested: $37,800 (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 77051

• Home prices YoY: 9.7%
• Rents YoY: 4.8%
• Active inventory: 312
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,512 high
• Mortgage (P&I): −$708
• Tax from tax record: −$259 /mo · $3,109/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$527
• Net cashflow: $961

Break-even live

Break-even rent $1,295

Max offer price $135,000

Occupancy floor 57%

Sensitivity live

Price	-10% $1,037	-5% $999	+0% $961	+5% $923	+10% $884
Rent	-10% $762	-5% $862	+0% $961	+5% $1,060	+10% $1,159
Rate	-1.0pp $1,029	-0.5pp $995	base $961	+0.5pp $926	+1.0pp $890

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4601 White Rock St Unit A Houston, TX	3.0	2.5	1700	$2,500	$1.47	44d	1	0.04mi
4613 Bricker St Unit B Houston, TX	3.0	2.5	1600	$2,300	$1.44	44d	1	0.13mi
4835 Sunflower St Unit 1546466P Houston, TX	3.0	2.0	1883	$4,516	$2.40	15d	1	0.19mi
4406 Sterling St Houston, TX	3.0	2.5	1840	$1,999	$1.09	17d	1	0.33mi
4514 Galesburg St Unit B Houston, TX	3.0	2.5	1680	$3,500	$2.08	25d	1	0.39mi
7710 Darnay Dr Houston, TX	3.0	3.0	1635	$2,095	$1.28	44d	1	0.59mi
4538 Clover St Houston, TX	4.0	2.0	1768	$1,595	$0.90	44d	1	0.74mi
7358 Guadalcanal Rd Houston, TX	3.0	3.0	1768	$2,195	$1.24	44d	1	0.75mi
5201 Kenilwood Dr Unit B Houston, TX	3.0	2.0	2442	$1,725	$0.71	14d	1	0.78mi
3620 Du Bois St Unit 1302349P Houston, TX	3.0	2.5	1797	$2,945	$1.64	3d	1	0.83mi
7321 Conley St Unit A Houston, TX	3.0	2.5	1869	$2,025	$1.08	21d	1	0.87mi
5314 Longmeadow St Houston, TX	3.0	3.0	1646	$1,900	$1.15	44d	1	0.93mi
7806 Comal St Unit B Houston, TX	3.0	2.5	1800	$2,200	$1.22	44d	1	0.95mi
7339 Krueger Rd Houston, TX	3.0	2.0	2440	$1,900	$0.78	44d	1	0.95mi
3846 Seabrook St Houston, TX	3.0	3.5	1833	$2,300	$1.25	44d	1	1.08mi
4705 Idaho St Houston, TX	3.0	2.5	1664	$2,500	$1.50	18d	1	1.18mi
3732 Seabrook St Houston, TX	3.0	2.5	1727	$2,350	$1.36	25d	1	1.19mi
3655 Seabrook St Unit 6 Houston, TX	2.0	1.0	1600	$1,000	$0.62	44d	1	1.25mi
4921a Pederson St Unit A Houston, TX	3.0	2.0	1765	$2,150	$1.22	13d	1	1.28mi
5012 Higgins St Unit B Houston, TX	3.0	2.5	1611	$1,650	$1.02	25d	1	1.28mi
6731 New York St Houston, TX	3.0	3.0	2211	$2,100	$0.95	44d	1	1.32mi
6809 Conley St Houston, TX	3.0	4.0	1921	$2,600	$1.35	44d	1	1.33mi
3710 Rockingham St Houston, TX	3.0	2.0	1890	$1,700	$0.90	44d	1	1.35mi
5317 Chennault Rd Unit A Houston, TX	3.0	2.5	1608	$1,999	$1.24	44d	1	1.37mi
3615 Dreyfus St Houston, TX	3.0	3.0	2011	$2,800	$1.39	44d	1	1.42mi
5321 Malmedy Rd Houston, TX	3.0	2.5	3292	$2,200	$0.67	44d	1	1.44mi
7507 Springhill St Houston, TX	3.0	3.5	2000	$4,500	$2.25	44d	1	1.48mi

Listing history 15 events

1. 2026-06-18
   days on market $135,000 Active 212 DOM
2. 2026-06-17
   days on market $135,000 Active 211 DOM
3. 2026-06-16
   days on market $135,000 Active 210 DOM
4. 2026-06-15
   days on market $135,000 Active 209 DOM
5. 2026-06-13
   days on market $135,000 Active 207 DOM
6. 2026-06-10
   days on market $135,000 Active 203 DOM
7. 2026-06-08
   days on market $135,000 Active 202 DOM
8. 2026-06-07
   days on market $135,000 Active 201 DOM
9. 2026-06-04
   days on market $135,000 Active 198 DOM
10. 2026-06-01
    days on market $135,000 Active 195 DOM
11. 2026-05-31
    days on market $135,000 Active 194 DOM
12. 2026-02-21
    price $135,000 130-char remark

    Show marketing remark (130 chars)

    Duplex, with 2 separate, full living spaces. White, one-story, wooden, gated, stand alone duplex. Perfect investment opportunity!

13. 2025-11-18
    listed $150,000 Active 130-char remark

    Show marketing remark (130 chars)

    Duplex, with 2 separate, full living spaces. White, one-story, wooden, gated, stand alone duplex. Perfect investment opportunity!

14. 2006-06-06
    soldstatus
15. 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: $3,109 · $259/mo
• Projected year-2 tax: $3,109 · $259/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 23 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: $30,140
• − Mortgage interest: −$7,562
• − Property taxes: −$3,109
• − Insurance: −$675
• − Repairs & maintenance: −$2,411
• − Management: −$2,411
• − Depreciation: −$3,927
• Taxable income: $10,044
• Est. tax owed @ 24.0%: −$2,411
• After-tax cash flow: $9,120/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): 19,795
• Household income: $37,415
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 1446.0

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 Black (77%)
• Race & ethnicity: Black 77% Hispanic / Latino 16% Two or more races 11% White 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 10%

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: ▲ 16.02%
• Current HPI: 180.4283
• Rent YoY: ▲ 4.77%
• 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

-10.0% since first listed

4 events — show timeline

• 2026-02-21 Price Changed $135,000 HARMLS
• 2025-11-18 Listed $150,000 HARMLS
• 2006-06-06 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+7.2%/yr

Latest (2025): $3,109 · -0.3% YoY. Source: county tax records.