9802 Freestone St · Houston, TX 77034

$129,900

2 bd · 1.0 ba · 1,070 sqft · SingleFamily public records · 29 Days on market

Built 1946 10,800 sqft lot $121/sqft · 37% below area Est $206k · 37% under ↓ 13% since listing

---

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 +11.6/30.0
• 1% rule +4.6/10.0
• Livability +3.7/5.0
• DSCR +3.4/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• 0.25 acre lot
• Built 1946
• Listed 29 days

Property features AI

Finance

• Financial info: Lease not considered

Exterior

• Utilities: Public water; Public sewer; Electric service
• Home design: Residential property; Built in 1946; Single-story (all main rooms listed on the first floor); Pillar/post/pier foundation
• Construction: Wood siding construction; Composition roof
• Exterior features: Corner lot

Interior

• Kitchen: Kitchen on the first floor (11 x 9)
• Bedrooms: Primary bedroom on the first floor (12 x 12); Bedroom on the first floor (12 x 12); Bedroom on the first floor (10 x 13)
• Flooring: Wood
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Wood flooring; 6 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $-40 ($-478/yr) — negative.
• To cash-flow at today's rent, offer at most $123k (5.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (4.4% below list).
• Recommended offer: $123k (5.4% below list) — sets the bar for cash-flow.
• Cap rate 5.9% 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: crime F.
• Pasadena ISD (suburban): math 29% / reading 32% proficiency, ranked #612 of 826 in TX (top 74%) — 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: Fred Roberts Middle (math 36% / reading 32%, grade F, #892 of 1,662 statewide, top 55%, 545 students, 80% FRL).
• Market conditions: Rents soft (-1.4%/yr); 93 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 of loan paydown is wiped out by about $4k 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 29 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1946 — expect roof / HVAC / electrical / plumbing capex.
• 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 $122,868 (5.4% 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. Built in 1946 — 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. 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. 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?
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: 0.96% ✗
• Cap rate: 5.93%
• Cash-on-cash: -1.31%
• DSCR: 0.94
• GRM: 8.7

CMA / ARV

• ARV (median comp): $206,316
• List price: $129,900
• Delta: -37.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11719 Almeda Genoa Rd	0.08mi	3/1.0 (+1)	953 (-11%)	11mo	$85,000	$89	64
11811 Almeda Genoa Rd	0.12mi	3/2.0 (+1)	1,224 (+14%)	1mo	$99,000	$81	61
12413 Palmbeach St	0.70mi	3/1.0 (+1)	1,096 (+2%)	9mo	$175,000	$160	51
12417 Dumas St	0.75mi	3/1.5 (+1)	1,116 (+4%)	3mo	$340,000	$305	48
11615 Tierra Palms Ct	0.19mi	3/2.0 (+1)	1,190 (+11%)	22mo	$250,000	$210	45
11922 Kewalo Basin Ln	0.58mi	3/2.0 (+1)	1,168 (+9%)	8mo	$228,990	$196	42
12217 Dumas St	0.53mi	3/1.0 (+1)	918 (-14%)	12mo	$189,000	$206	36
11715 Tara Hills Ct	0.70mi	3/2.0 (+1)	1,168 (+9%)	13mo	$224,000	$192	32
12338 Dumas St	0.67mi	3/1.0 (+1)	1,230 (+15%)	9mo	$205,000	$167	32
12333 Palmway St	0.65mi	3/2.0 (+1)	1,210 (+13%)	14mo	$235,000	$194	28
12409 Palmsprings Dr	0.68mi	3/1.5 (+1)	924 (-14%)	21mo	$215,000	$233	21

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: -22.3%
• Equity multiple: 0.25×
• Total profit: $-27,130
• Equity at exit: $19,369

10-year hold

• IRR: -28.4%
• Equity multiple: -0.12×
• Total profit: $-40,570
• Equity at exit: $11,231

Cash invested: $36,372 (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 77034

• Home prices YoY: -15.1%
• Rents YoY: -1.4%
• Active inventory: 93
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,242 high
• Mortgage (P&I): −$681
• Tax from tax record: −$286 /mo · $3,426/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $-40

Break-even live

Break-even rent $1,292

Max offer price $122,868

Occupancy floor 98%

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12601 S Green Dr Unit 12658 Houston, TX	2.0	2.0	883	$1,137	$1.29	3d	1	0.14mi
12601 S Green Dr Unit 2162 Houston, TX	2.0	2.0	883	$1,145	$1.30	5d	1	0.14mi
12516 S Green Dr Houston, TX	3.0	2.0	1295	$1,600	$1.24	44d	1	0.16mi
12601 S Green Dr Houston, TX	1.0–2.0	1.0–2.0	808	$1,425	$1.76	44d	1	0.18mi
12601 S Green Dr Unit 2047 Houston, TX	2.0	2.0	883	$1,180	$1.34	11d	1	0.19mi
11700 Fuqua St Houston, TX	1.0–2.0	1.0–2.0	762	$1,175	$1.54	1d	9	0.38mi
11700 Fuqua St Unit 11757 Houston, TX	2.0	2.0	850	$1,121	$1.32	17d	1	0.40mi
12807 Roydon Dr Houston, TX	2.0	2.0	924	$1,170	$1.27	44d	1	0.47mi
12801 Roydon Dr Houston, TX	1.0–2.0	1.0–2.0	773	$1,240	$1.60	1d	18	0.57mi
10950 Tanner Park Ct Houston, TX	2.0–3.0	1.0–2.0	998	$945	$0.95	3d	16	0.64mi
8965 N Broadway Houston, TX	1.0–2.0	1.0–2.0	802	$1,502	$1.87	1d	13	0.67mi
10701 Sabo Rd Houston, TX	1.0–2.0	1.0–2.0	785	$1,155	$1.47	1d	29	0.78mi
10601 Sabo Rd Houston, TX	1.0–3.0	1.0–2.0	814	$1,044	$1.28	3d	11	0.78mi
10601 Sabo Rd Houston, TX	1.0–3.0	1.0–2.0	814	$1,074	$1.32	24d	5	0.78mi
10721 Katya Gillian Dr Houston, TX	2.0	2.0	936	$1,385	$1.48	44d	1	0.81mi
11144 Fuqua St Houston, TX	1.0–2.0	1.0–2.0	1066	$1,959	$1.84	10d	24	0.82mi
11881 Gulf Pointe Dr Unit 11918 Houston, TX	2.0	2.0	1035	$1,424	$1.38	10d	1	1.01mi
11881 Gulf Pointe Dr Unit 3174 Houston, TX	3.0	2.0	1365	$2,064	$1.51	10d	1	1.01mi
11881 Gulf Pointe Dr Unit 2162 Houston, TX	2.0	2.0	1035	$1,400	$1.35	5d	1	1.01mi
11881 Gulf Pointe Dr Unit 3112 Houston, TX	3.0	2.0	1365	$2,032	$1.49	3d	1	1.01mi
11881 Gulf Pointe Dr Unit 2112 Houston, TX	2.0	2.0	1035	$1,392	$1.34	3d	1	1.01mi
11881 Gulf Pointe Dr Unit 11902 Houston, TX	1.0	1.0	750	$1,210	$1.61	13d	1	1.01mi
11881 Gulf Pointe Dr Unit 11914 Houston, TX	3.0	2.0	1365	$2,035	$1.49	44d	1	1.01mi
11881 Gulf Pointe Dr Unit 11902 Houston, TX	1.0	1.0	750	$1,214	$1.62	10d	1	1.01mi
11881 Gulf Pointe Dr Unit 1162 Houston, TX	1.0	1.0	750	$1,175	$1.57	5d	1	1.01mi
11881 Gulf Pointe Dr Unit 1148 Houston, TX	1.0	1.0	750	$1,172	$1.56	3d	1	1.01mi
11881 Gulf Pointe Dr Unit 11938 Houston, TX	2.0	2.0	1035	$1,425	$1.38	44d	1	1.01mi
11881 Gulf Pointe Dr Unit 11932 Houston, TX	1.0	1.0	750	$1,205	$1.61	44d	1	1.01mi
11887 Gulf Pointe Dr Houston, TX	2.0	2.0	1035	$1,254	$1.21	44d	1	1.01mi
13099 Fuqua St Houston, TX	2.0	2.0	953	$1,517	$1.59	24d	1	1.05mi
11881 Gulf Pointe Dr Unit 3047 Houston, TX	3.0	2.0	1365	$1,992	$1.46	19d	1	1.05mi
10700 Fuqua St Unit 421 Houston, TX	2.0	2.0	904	$1,027	$1.14	5d	1	1.07mi
11881 Gulf Pointe Dr Houston, TX	1.0	1.0	750	$1,164	$1.55	13d	1	1.09mi
12055 Sabo Rd Houston, TX	1.0–3.0	1.0–2.0	970	$1,584	$1.63	2d	15	1.14mi
10925 Beamer Rd Houston, TX	1.0–2.0	1.0–2.0	868	$1,280	$1.47	3d	25	1.16mi
10742 Freehill St Unit 2148 Houston, TX	2.0	2.0	953	$1,331	$1.40	3d	1	1.17mi
10742 Freehill St Unit 424 Houston, TX	2.0	2.0	953	$1,339	$1.41	5d	1	1.17mi
10931 Beamer Rd Houston, TX	2.0	2.0	1012	$1,125	$1.11	20d	1	1.18mi
10931 Beamer Rd Houston, TX	1.0	1.0	712	$945	$1.33	21d	1	1.18mi
10931 Beamer Rd Houston, TX	2.0	2.0	1012	$1,125	$1.11	44d	1	1.18mi

Listing history 12 events

1. 2026-06-13
   statusdays on market $129,900 Pending 29 DOM
2. 2026-06-09
   days on market $129,900 Active 28 DOM
3. 2026-06-08
   days on market $129,900 Active 27 DOM
4. 2026-06-07
   days on market $129,900 Active 26 DOM
5. 2026-06-04
   days on market $129,900 Active 23 DOM
6. 2026-06-03
   days on market $129,900 Active 22 DOM
7. 2026-06-02
   days on market $129,900 Active 21 DOM
8. 2026-06-01
   days on market $129,900 Active 20 DOM
9. 2026-05-31
   days on market $129,900 Active 19 DOM
10. 2026-05-11
    listed $149,900 Active
11. 2026-03-10
    soldstatus
12. 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: $3,426 · $286/mo
• Projected year-2 tax: $3,426 · $286/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) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,902
• − Mortgage interest: −$7,276
• − Property taxes: −$3,426
• − Insurance: −$650
• − Repairs & maintenance: −$1,192
• − Management: −$1,192
• − Depreciation: −$3,779
• Taxable loss: −$2,613
• Est. tax savings @ 24.0%: +$627
• After-tax cash flow: $150/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: Pasadena ISD
• NCES district ID: 4834320
• Math proficiency: 29% ▼ -17.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $45,163
• Composite: 26.15/100
• National rank: #7275
• State rank: #612 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): 36,456
• Household income: $58,217
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 1809.0

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 (71%)
• Race & ethnicity: Hispanic / Latino 71% Two or more races 32% Black 11% White 11% Asian 5% Native American 2%
• Hispanic origin (detail): Mexican 51% Puerto Rican 1%
• Foreign-born: 32% · Canada, Vietnam, China
• Languages at home: 35% English-only · Spanish 60% Vietnamese 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: ▼ -48.32%
• Current HPI: 272.1697
• Rent YoY: ▼ -1.36%
• 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

-13.3% since first listed

5 events — show timeline

• 2026-06-10 Pending — HARMLS
• 2026-05-25 Price Changed $129,900 HARMLS
• 2026-05-11 Listed $149,900 HARMLS
• 2026-03-10 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+8.1%/yr

Latest (2025): $3,426 · +13.8% YoY. Source: county tax records.