3733 Noah St · Houston, TX 77021

$275,000

3 bd · 1.5 ba · 1,539 sqft · SingleFamily public records · 240 Days on market

Built 1955 10,001 sqft lot $179/sqft · 23% above area Est $368k · 25% under ↓ 7% since listing

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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 +8.3/30.0
• Livability +3.7/5.0
• 1% rule +3.4/10.0
• Rent growth +3.0/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

10,000 square foot corner lot ideal lot for new construction. The property contains two stuctures, 3733 & 3737 Noah, and is being sold for lot value. The neighborhood is established and brand new construction all around. Property is being sold as-is. Close proximity to Texas Medical Center Helix Park and Levit Green. Quick commute to NRG, Museum District and Downtown Houston.

Key facts

• Quick commute to nrg
• Two structures
• Corner lot

Tags

• CORNER LOT
• TWO STRUCTURES
• ESTABLISHED NEIGHBORHOOD
• QUICK COMMUTE TO NRG

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-250 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $231k (16.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (15.5% below list).
• Recommended offer: $231k (16.0% below list) — sets the bar for cash-flow.
• Cap rate 5.2% 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: Rents rising (+2.2%/yr); 471 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $2,324/mo this rent would consume 61% of the median local household income ($46k/yr) (locally 2532% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 240 days — a 12% lower offer ($242k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• 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 $230,880 (16.0% 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 240 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
9. 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.
10. 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.
11. 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: 0.84% ✗
• Cap rate: 5.20%
• Cash-on-cash: -3.89%
• DSCR: 0.83
• GRM: 9.9

CMA / ARV

• ARV (median comp): $367,670
• List price: $275,000
• Delta: -25.20%
• 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
3802 Rebecca St	0.23mi	3/2.0	1,348 (-12%)	4mo	$189,000	$140	63
3515 Lydia St	0.38mi	3/2.0	1,390 (-10%)	4mo	$220,000	$158	61
4211 Faulkner St	0.56mi	3/2.5	1,610 (+5%)	3mo	$274,900	$171	60
6906 England St	0.66mi	3/2.5	1,600 (+4%)	4mo	$309,900	$194	55
6908 England St	0.66mi	3/2.5	1,600 (+4%)	5mo	$309,900	$194	54
3536 Rebecca St	0.38mi	3/2.5	1,332 (-14%)	4mo	$240,000	$180	53
7117 England St Unit C	0.55mi	3/2.5	1,700 (+10%)	1mo	$340,000	$200	52
6904 England St	0.67mi	3/2.5	1,600 (+4%)	7mo	$329,900	$206	52
7117 England St Unit B	0.55mi	3/2.5	1,700 (+10%)	5mo	$359,900	$212	48
7117 England St Unit A	0.56mi	3/2.5	1,700 (+10%)	5mo	$359,900	$212	48
7205 England St	0.51mi	4/2.5 (+1)	1,689 (+10%)	7mo	$320,000	$189	45
7131 Eastwood St Unit C	0.72mi	3/2.5	1,700 (+10%)	6mo	$320,000	$188	40

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 · 2.17% rent growth · sell at horizon

5-year hold

• IRR: -23.8%
• Equity multiple: 0.19×
• Total profit: $-62,245
• Equity at exit: $41,003

10-year hold

• IRR: -21.3%
• Equity multiple: -0.06×
• Total profit: $-81,846
• Equity at exit: $23,777

Cash invested: $77,000 (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 77021

• Home prices YoY: -23.6%
• Rents YoY: 2.2%
• Active inventory: 471
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,324 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$529 /mo · $6,344/yr
• Insurance: −$115
• HOA: −$0
• Vacancy / Maint / Mgmt: −$488
• Net cashflow: $-250

Break-even live

Break-even rent $2,640

Max offer price $230,880

Occupancy floor —

Sensitivity live

Price	-10% $-94	-5% $-172	+0% $-250	+5% $-328	+10% $-405
Rent	-10% $-433	-5% $-342	+0% $-250	+5% $-158	+10% $-66
Rate	-1.0pp $-111	-0.5pp $-180	base $-250	+0.5pp $-321	+1.0pp $-394

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: $68,750
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3732 Seabrook St Houston, TX	3.0	2.5	1727	$2,350	$1.36	25d	1	0.02mi
3655 Seabrook St Unit 6 Houston, TX	2.0	1.0	1600	$1,000	$0.62	45d	1	0.08mi
3846 Seabrook St Houston, TX	3.0	3.5	1833	$2,300	$1.25	45d	1	0.13mi
3615 Dreyfus St Houston, TX	3.0	3.0	2011	$2,800	$1.39	45d	1	0.26mi
7507 Springhill St Houston, TX	3.0	3.5	2000	$4,500	$2.25	45d	1	0.39mi
7321 Conley St Unit A Houston, TX	3.0	2.5	1869	$2,025	$1.08	22d	1	0.43mi
7321 Conley St Unit B Houston, TX	3.0	2.0	1501	$2,025	$1.35	22d	1	0.43mi
7806 Comal St Unit B Houston, TX	3.0	2.5	1800	$2,200	$1.22	45d	1	0.52mi
7032 Conley St Houston, TX	3.0	2.0	1220	$2,850	$2.34	45d	1	0.52mi
3402 Nathaniel Brown St Unit B Houston, TX	3.0	2.5	1885	$2,025	$1.07	45d	1	0.57mi
3360 Alice St Unit 3174 Houston, TX	3.0	2.0	1154	$1,121	$0.97	0d	1	0.68mi
3360 Alice St Unit 510 Houston, TX	3.0	2.0	1154	$1,172	$1.02	13d	1	0.68mi
6809 Conley St Houston, TX	3.0	4.0	1921	$2,600	$1.35	45d	1	0.68mi
3360 Alice St Unit 3047 Houston, TX	3.0	2.0	1154	$1,172	$1.02	12d	1	0.69mi
8010 Livingston St Houston, TX	3.0	2.0	1400	$1,800	$1.29	45d	1	0.72mi
7373 Ardmore St Houston, TX	1.0–3.0	1.0–2.0	1095	$1,887	$1.72	6d	24	0.83mi
3088 Holly Hall St Unit 1 Houston, TX	2.0	2.5	1600	$1,750	$1.09	16d	1	0.83mi
7379 Ardmore St Unit 1303 Houston, TX	3.0	2.0	1442	$1,967	$1.36	45d	1	0.84mi
7379 Ardmore St Unit 1303 Houston, TX	3.0	2.0	1442	$1,967	$1.36	23d	1	0.84mi
2968 Holly Hall St Houston, TX	2.0	3.0	1600	$2,000	$1.25	45d	1	0.87mi
4530 Mayflower St Houston, TX	3.0	2.0	1302	$1,800	$1.38	45d	1	0.87mi
3620 Du Bois St Unit 1302349P Houston, TX	3.0	2.5	1797	$2,945	$1.64	4d	1	0.88mi
2924 Holly Hall St Houston, TX	2.0	3.0	1600	$1,950	$1.22	45d	1	0.91mi
6928 Paris St Houston, TX	3.0	2.0	1276	$1,900	$1.49	0d	1	0.95mi
6926 Paris St Houston, TX	3.0	2.0	1276	$1,900	$1.49	0d	1	0.95mi
3311 Daphne St Unit 1255369P Houston, TX	3.0	3.5	1797	$6,391	$3.56	0d	1	0.97mi
3311 Daphne St Unit 3311 Houston, TX	3.0	3.5	1800	$7,500	$4.17	45d	1	0.97mi
8181 El Mundo St Houston, TX	1.0–3.0	1.0–2.0	1241	$2,041	$1.64	25d	18	0.98mi
8181 El Mundo St Houston, TX	1.0–3.0	1.0–2.5	1356	$2,262	$1.67	0d	48	0.98mi
7110 Ardmore St Houston, TX	2.0	1.0–2.0	831	$2,390	$2.87	0d	17	0.98mi
8328 Corinth St Unit B Houston, TX	3.0	2.5	1500	$2,800	$1.87	21d	1	0.99mi
6737 Peerless St Unit A Houston, TX	3.0	3.5	1732	$2,649	$1.53	18d	1	1.00mi
6735 Peerless St Unit CUNIT A Houston, TX	3.0	3.5	1732	$2,649	$1.53	18d	1	1.01mi
6735c Peerless St Houston, TX	3.0	3.5	1732	$2,599	$1.50	0d	1	1.01mi
4117 Shelby Cir Unit 1230900P Houston, TX	4.0	2.0	1367	$5,253	$3.84	0d	1	1.01mi
3731 Alsace St Unit 1560804P Houston, TX	3.0	2.0	2002	$3,387	$1.69	4d	1	1.03mi
6731 New York St Houston, TX	3.0	3.0	2211	$2,100	$0.95	45d	1	1.04mi
4705 Idaho St Houston, TX	3.0	2.5	1664	$2,500	$1.50	18d	1	1.05mi
4609 Bricker St Unit ABC Houston, TX	3.0	2.5	1375	$3,500	$2.55	12d	1	1.08mi
4609 Bricker St Unit B Houston, TX	3.0	2.5	1300	$3,500	$2.69	14d	1	1.08mi

Listing history 15 events

1. 2026-06-21
   days on market $275,000 Active 240 DOM
2. 2026-06-18
   days on market $275,000 Active 237 DOM
3. 2026-06-17
   days on market $275,000 Active 236 DOM
4. 2026-06-16
   days on market $275,000 Active 235 DOM
5. 2026-06-15
   days on market $275,000 Active 234 DOM
6. 2026-06-13
   days on market $275,000 Active 232 DOM
7. 2026-06-10
   days on market $275,000 Active 228 DOM
8. 2026-06-08
   days on market $275,000 Active 227 DOM
9. 2026-06-07
   days on market $275,000 Active 226 DOM
10. 2026-06-04
    days on market $275,000 Active 223 DOM
11. 2026-06-01
    days on market $275,000 Active 220 DOM
12. 2026-05-31
    days on market $275,000 Active 219 DOM
13. 2026-02-28
    price $275,000 382-char remark

    Show marketing remark (382 chars)

    10,000 square foot corner lot ideal lot for new construction. The property contains two stuctures, 3733 & 3737 Noah, and is being sold for lot value. The neighborhood is established and brand new construction all around. Property is being sold as-is. Close proximity to Texas Medical Center Helix Park and Levit Green. Quick commute to NRG, Museum District and Downtown Houston.

14. 2025-10-24
    listed $295,000 Active 382-char remark

    Show marketing remark (382 chars)

    10,000 square foot corner lot ideal lot for new construction. The property contains two stuctures, 3733 & 3737 Noah, and is being sold for lot value. The neighborhood is established and brand new construction all around. Property is being sold as-is. Close proximity to Texas Medical Center Helix Park and Levit Green. Quick commute to NRG, Museum District and Downtown Houston.

15. 1995-12-15
    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: $6,344 · $529/mo
• Projected year-2 tax: $6,344 · $529/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) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,883
• − Mortgage interest: −$15,404
• − Property taxes: −$6,344
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,231
• − Management: −$2,231
• − Depreciation: −$8,000
• Taxable loss: −$7,702
• Est. tax savings @ 24.0%: +$1,848
• After-tax cash flow: $-1,149/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): 26,153
• Household income: $45,574
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 2532.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: Black 62% Hispanic / Latino 22% Two or more races 12% White 10% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 77% English-only · Spanish 19% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -71.22%
• Current HPI: 230.2869
• Rent YoY: ▲ 2.17%
• 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

-6.8% since first listed

3 events — show timeline

• 2026-02-28 Price Changed $275,000 HARMLS
• 2025-10-24 Listed $295,000 HARMLS
• 1995-12-15 Sold (Public Records) — Public Records

Property tax history

+9.1%/yr

Latest (2025): $6,344 · +28.6% YoY. Source: county tax records.