8622 Othello St · Houston, TX 77029

$160,000

3 bd · 1.0 ba · 1,131 sqft · SingleFamily public records · 79 Days on market

Built 1956 6,324 sqft lot $141/sqft · 15% below area Est $189k · 15% under

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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).

• Cash flow +15.2/30.0
• ARV discount +14.4/15.0
• Appreciation +10.0/10.0
• DSCR +4.7/10.0
• 1% rule +4.1/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Estate Sale. Sold AS-IS WHERE-IS. The sellers will not make any repairs. There is no seller's disclosure; the buyer is responsible for verifying everything. This cozy home has 3-4 bedrooms and 1 full bath. There are 2 living areas, one of which can be converted to a 4th bedroom. There is a central HVAC system, but it is not working. Great opportunity for investors or end buyers who want to add their touch. Easy access to both 610 & I-10, and just minutes from downtown.

Key facts

• Central hvac system
• 2 living areas
• 6,324 sq ft lot

Tags

• CENTRAL HVAC SYSTEM
• 2 LIVING AREAS
• EASY ACCESS TO BOTH 610 & I-10
• MINUTES FROM DOWNTOWN

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $57 ($685/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (9.3% below list).
• Recommended offer: $145k (9.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 47% 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 36% 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 $17k of equity ($1k loan paydown + $16k 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 $45k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$43k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• 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 $145,142 (9.3% below list)

Questions for the listing agent

1. It's been on market 79 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 1956 — 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: 0.91% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.53%
• DSCR: 1.07
• GRM: 9.2

CMA / ARV

• ARV (median comp): $188,986
• List price: $160,000
• Delta: -15.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8734 Josie St	0.22mi	3/1.0	1,150 (+2%)	1mo	$159,000	$138	86
1718 Normandale St	0.15mi	3/2.0	1,144 (+1%)	9mo	$229,000	$200	80
8606 Guinevere St	0.07mi	3/1.5	1,238 (+10%)	2mo	$225,000	$182	78
8711 Othello St	0.13mi	3/2.0	1,180 (+4%)	8mo	$215,000	$182	76
8427 Guinevere St	0.33mi	4/2.0 (+1)	1,228 (+9%)	1mo	$225,000	$183	60
1531 Teanaway Ln	0.35mi	4/1.0 (+1)	1,226 (+8%)	12mo	$195,000	$159	54
1427 Teanaway Ln	0.42mi	3/2.0	1,232 (+9%)	11mo	$239,750	$195	52
8446 Norvic St	0.30mi	4/2.0 (+1)	1,289 (+14%)	4mo	$164,580	$128	50
1431 Teanaway Ln	0.42mi	2/1.0 (-1)	1,000 (-12%)	9mo	$115,000	$115	48
8647 Berndale St	0.39mi	4/2.0 (+1)	1,252 (+11%)	11mo	$199,999	$160	46
8766 Othello St	0.28mi	4/1.0 (+1)	1,294 (+14%)	20mo	$185,000	$143	41
8707 Fannette St	0.45mi	4/2.0 (+1)	1,300 (+15%)	6mo	$199,999	$154	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: 25.4%
• Equity multiple: 3.03×
• Total profit: $90,788
• Equity at exit: $144,141

10-year hold

• IRR: 22.4%
• Equity multiple: 6.90×
• Total profit: $264,521
• Equity at exit: $310,845

Cash invested: $44,800 (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 77029

• Home prices YoY: 7.2%
• Active inventory: 153
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,451 high
• Mortgage (P&I): −$839
• Tax from tax record: −$184 /mo · $2,206/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $57

Break-even live

Break-even rent $1,379

Max offer price $160,000

Occupancy floor 91%

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8534 Fillmore St Houston, TX	3.0	1.0	965	$1,600	$1.66	43d	1	0.17mi
8726 Josie St Houston, TX	3.0	1.0	950	$1,000	$1.05	43d	1	0.22mi
8735 Cowart St Houston, TX	3.0	1.0	1136	$1,000	$0.88	43d	1	0.35mi
2203 Pearl St Houston, TX	3.0	2.0	1298	$1,570	$1.21	13d	1	0.76mi
9709 Cargill St Houston, TX	3.0	2.0	1184	$2,300	$1.94	43d	1	0.92mi
9710 Tuffly St Houston, TX	3.0	2.0	1275	$1,795	$1.41	24d	1	0.99mi
9806 Fillmore St Houston, TX	2.0	2.0	850	$1,850	$2.18	43d	1	1.00mi
9701 Market St Houston, TX	1.0–2.0	1.0	798	$1,309	$1.64	7d	1	1.07mi
9713 Stedman St Unit b Houston, TX	3.0	2.0	872	$1,095	$1.26	43d	1	1.10mi
9907 Lanewell St Unit a Houston, TX	3.0	2.0	872	$1,154	$1.32	21d	1	1.12mi
9743 Veyblum St Unit B Houston, TX	3.0	2.0	872	$1,145	$1.31	5d	1	1.23mi
9821 Turnbow St Unit C Houston, TX	3.0	2.0	1140	$1,720	$1.51	43d	1	1.25mi
10202 Challenger 7 Dr Unit 424 Jacinto City, TX	2.0	2.0	900	$1,115	$1.24	5d	1	1.44mi
10202 Challenger 7 Dr Unit 422 Jacinto City, TX	2.0	2.0	900	$1,115	$1.24	7d	1	1.44mi
10202 Challenger 7 Dr Unit 10259 Jacinto City, TX	2.0	2.0	900	$1,107	$1.23	2d	1	1.44mi
10202 Challenger 7 Dr Unit 2047 Jacinto City, TX	2.0	2.0	900	$1,150	$1.28	10d	1	1.44mi
10208 Challenger 7 Dr Jacinto City, TX	2.0	1.0	900	$1,190	$1.32	43d	1	1.48mi

Listing history 13 events

1. 2026-06-18
   days on market $160,000 Active 79 DOM
2. 2026-06-17
   days on market $160,000 Active 78 DOM
3. 2026-06-16
   days on market $160,000 Active 77 DOM
4. 2026-06-15
   days on market $160,000 Active 76 DOM
5. 2026-06-13
   days on market $160,000 Active 74 DOM
6. 2026-06-10
   days on market $160,000 Active 70 DOM
7. 2026-06-08
   days on market $160,000 Active 69 DOM
8. 2026-06-07
   days on market $160,000 Active 68 DOM
9. 2026-06-04
   days on market $160,000 Active 65 DOM
10. 2026-06-01
    days on market $160,000 Active 62 DOM
11. 2026-05-31
    days on market $160,000 Active 61 DOM
12. 2026-03-31
    listed $160,000 Active 477-char remark

    Show marketing remark (477 chars)

    Estate Sale. Sold AS-IS WHERE-IS. The sellers will not make any repairs. There is no seller's disclosure; the buyer is responsible for verifying everything. This cozy home has 3-4 bedrooms and 1 full bath. There are 2 living areas, one of which can be converted to a 4th bedroom. There is a central HVAC system, but it is not working. Great opportunity for investors or end buyers who want to add their touch. Easy access to both 610 & I-10, and just minutes from downtown.

13. 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: $2,206 · $184/mo
• Projected year-2 tax: $2,928 · $244/mo
• Expected delta: +$722/yr (+$60/mo · 32.7%)

ⓘ 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) · 74% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°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: $17,417
• − Mortgage interest: −$8,962
• − Property taxes: −$2,206
• − Insurance: −$800
• − Repairs & maintenance: −$1,393
• − Management: −$1,393
• − Depreciation: −$4,655
• Taxable loss: −$1,992
• Est. tax savings @ 24.0%: +$478
• After-tax cash flow: $1,163/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

2 events — show timeline

• 2026-03-31 Listed $160,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,206 · +11.7% YoY. Source: county tax records.