241 Owens St · Houston, TX 77029

$70,000

2 bd · 1.0 ba · 782 sqft · SingleFamily public records · 113 Days on market

Built 1941 6,743 sqft lot $90/sqft · 50% below area

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Why this score? — see what drove the B+ 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
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Key facts

• 6,743 sq ft lot
• 2 garage spots
• Built 1941

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $423 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $64k (9.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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.
• 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: 153 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 31% 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 $7k of equity ($484 loan paydown + $7k 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 $20k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$35k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 113 days — a 9% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 2.7% of price; built in 1941 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.77% ✓
• Cap rate: 13.55%
• Cash-on-cash: 25.92%
• DSCR: 2.15
• GRM: 4.7

CMA / ARV

• ARV (median comp): $141,385
• List price: $70,000
• Delta: -50.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
421 De Haven St	0.29mi	2/1.0	768 (-2%)	4mo	$138,000	$180	80
411 Owens St	0.25mi	2/1.0	720 (-8%)	13mo	$100,000	$139	64
153 De Haven St	0.19mi	2/1.0	880 (+12%)	23mo	$150,000	$170	51
1407 Craig Dr	0.70mi	2/1.0	872 (+12%)	10mo	$161,500	$185	40

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: 43.9%
• Equity multiple: 4.32×
• Total profit: $65,151
• Equity at exit: $63,062

10-year hold

• IRR: 38.0%
• Equity multiple: 9.71×
• Total profit: $170,780
• Equity at exit: $135,995

Cash invested: $19,600 (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: 4.7×

Monthly cashflow live

• Estimated rent: $1,239 high
• Mortgage (P&I): −$367
• Tax from tax record: −$159 /mo · $1,908/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $423

Break-even live

Break-even rent $703

Max offer price $70,000

Occupancy floor 61%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
335 Delaware St Houston, TX	2.0	1.0	784	$940	$1.20	12d	1	0.28mi
403 Armstrong St Houston, TX	3.0	2.0	909	$1,435	$1.58	5d	1	0.36mi
423 Armstrong St Houston, TX	3.0	2.0	1090	$1,515	$1.39	1d	1	0.40mi
9743 Veyblum St Unit B Houston, TX	3.0	2.0	872	$1,145	$1.31	5d	1	0.66mi
9713 Stedman St Unit b Houston, TX	3.0	2.0	872	$1,095	$1.26	43d	1	0.78mi
9806 Fillmore St Houston, TX	2.0	2.0	850	$1,850	$2.18	43d	1	1.23mi
9907 Lanewell St Unit a Houston, TX	3.0	2.0	872	$1,154	$1.32	22d	1	1.34mi
1726 Switzer St Houston, TX	1.0	1.0	620	$500	$0.81	15d	1	1.44mi
1726 Switzer St Unit 4 Houston, TX	1.0	1.0	620	$500	$0.81	19d	1	1.44mi
8534 Fillmore St Houston, TX	3.0	1.0	965	$1,600	$1.66	43d	1	1.49mi

Listing history 18 events

1. 2026-06-18
   days on market $70,000 Active 113 DOM
2. 2026-06-17
   days on market $70,000 Active 112 DOM
3. 2026-06-16
   days on market $70,000 Active 111 DOM
4. 2026-06-15
   days on market $70,000 Active 110 DOM
5. 2026-06-13
   days on market $70,000 Active 108 DOM
6. 2026-06-10
   days on market $70,000 Active 104 DOM
7. 2026-06-08
   days on market $70,000 Active 103 DOM
8. 2026-06-07
   days on market $70,000 Active 102 DOM
9. 2026-06-04
   days on market $70,000 Active 99 DOM
10. 2026-06-01
    days on market $70,000 Active 96 DOM
11. 2026-05-31
    days on market $70,000 Active 95 DOM
12. 2026-02-25
    listed $70,000 Active
13. 2025-10-31
    historical
14. 2025-09-01
    price $80,000
15. 2025-06-27
    price $90,000
16. 2025-06-13
    price $95,000
17. 2025-03-18
    listed $195,000 Active
18. 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: $1,908 · $159/mo
• Projected year-2 tax: $1,908 · $159/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 6 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: $14,865
• − Mortgage interest: −$3,921
• − Property taxes: −$1,908
• − Insurance: −$350
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$2,036
• Taxable income: $4,271
• Est. tax owed @ 24.0%: −$1,025
• After-tax cash flow: $4,055/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): 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

-64.1% since first listed

7 events — show timeline

• 2026-02-25 Listed $70,000 HARMLS
• 2025-10-31 Listing Removed — HARMLS
• 2025-09-01 Price Changed $80,000 HARMLS
• 2025-06-27 Price Changed $90,000 HARMLS
• 2025-06-13 Price Changed $95,000 HARMLS
• 2025-03-18 Listed $195,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+8.7%/yr

Latest (2025): $1,908 · +18.0% YoY. Source: county tax records.