8839 Glenhouse Dr · Houston, TX 77088

$129,000

3 bd · 1.5 ba · 935 sqft · SingleFamily public records · 11 Days on market

Built 1967 6,198 sqft lot Est $156k · 17% under ↓ 13% since listing

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

This 3-bedroom, 1.5-bath home presents a strong investment opportunity and is situated on a spacious lot in a desirable area. Featuring a great layout and nice-sized rooms, the property offers an excellent foundation for updates and modernization. The home includes a two-car garage, recently updated A/C system, and a walk-in bathroom feature. The generous yard provides ample space for outdoor living, expansion, or future improvements.

Key facts

• Great layout
• Generous yard
• Spacious lot

Tags

• SPACIOUS LOT
• GREAT LAYOUT
• WALK-IN BATHROOM
• GENEROUS YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $719 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $129k).
• Cap rate 13.0% 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.
• Aldine ISD (suburban): math 16% / reading 21% proficiency, ranked #790 of 826 in TX (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Garcia Middle (math 18% / reading 24%, grade F, #1,387 of 1,662 statewide, top 85%, 1,054 students, 90% FRL); Eisenhower H S (math 16% / reading 23%, grade F, #1,424 of 1,632 statewide, top 88%, 2,855 students, 83% FRL).
• Market conditions: Rents soft (-1.0%/yr); 468 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $2,118/mo this rent would consume 47% of the median local household income ($54k/yr) (locally 2294% 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 $892 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• 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 $129,000

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.64% ✓
• Cap rate: 12.98%
• Cash-on-cash: 23.88%
• DSCR: 2.06
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $156,145
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8839 Glenhouse Dr	0.00mi	3/1.5	935 (0%)	1mo	$129,000	$138	99
9018 Rutherford Ln	0.31mi	3/1.5	934 (-0%)	8mo	$165,000	$177	79
8811 Cottage Gate Ln	0.11mi	3/1.5	989 (+6%)	11mo	$208,000	$210	76
1902 Bunzel St	0.18mi	3/2.0	1,030 (+10%)	0mo	$198,000	$192	73
1811 W Gulf Bank Rd	0.23mi	3/1.5	1,021 (+9%)	15mo	$170,000	$167	62
1939 Mosher Ln	0.34mi	2/1.0 (-1)	885 (-5%)	10mo	$130,000	$147	60
1314 Tarberry Rd	0.72mi	3/1.5	1,022 (+9%)	5mo	$143,999	$141	47
9526 Tower St	0.67mi	2/1.0 (-1)	840 (-10%)	4mo	$250,000	$298	42
8914 De Priest St	0.75mi	3/2.0	1,020 (+9%)	8mo	$150,000	$147	41
1555 Tarberry Rd	0.46mi	3/1.5	1,045 (+12%)	23mo	$160,000	$153	40
2007 Beaver Bend Rd	0.32mi	2/1.0 (-1)	1,074 (+15%)	22mo	$171,900	$160	35
901 Dewalt St	0.73mi	3/2.0	996 (+6%)	24mo	$215,000	$216	33

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: 13.5%
• Equity multiple: 1.52×
• Total profit: $18,746
• Equity at exit: $19,234

10-year hold

• IRR: 19.8%
• Equity multiple: 2.43×
• Total profit: $51,579
• Equity at exit: $11,154

Cash invested: $36,120 (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 77088

• Home prices YoY: -23.2%
• Rents YoY: -1.0%
• Active inventory: 468
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $2,118 high
• Mortgage (P&I): −$676
• Tax from tax record: −$224 /mo · $2,690/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $719

Break-even live

Break-even rent $1,208

Max offer price $129,000

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1464 Ferguson Way Houston, TX	2.0	3.0	850	$1,850	$2.18	43d	1	0.80mi
929 Marjorie St Unit 1060806P Houston, TX	3.0	2.0	1076	$3,091	$2.87	7d	1	0.99mi
1010 Junell St Unit A Houston, TX	3.0	2.0	1040	$1,550	$1.49	24d	1	1.08mi
1330 Blue Bell Rd Houston, TX	2.0–3.0	1.0–2.0	1418	$1,790	$1.26	2d	6	1.09mi
9750 Deer Trail Dr Houston, TX	2.0	2.0	1000	$1,800	$1.80	24d	1	1.23mi
9750 Deer Trail Dr Houston, TX	3.0	2.0	1050	$2,200	$2.10	43d	1	1.23mi

Listing history 5 events

1. 2026-03-17
   status Pending
2. 2026-03-10
   status Pending
3. 2026-03-07
   price $129,000
4. 2026-03-06
   listed $149,000 Active
5. 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: $2,690 · $224/mo
• Projected year-2 tax: $2,690 · $224/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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,417
• − Mortgage interest: −$7,226
• − Property taxes: −$2,690
• − Insurance: −$645
• − Repairs & maintenance: −$2,033
• − Management: −$2,033
• − Depreciation: −$3,753
• Taxable income: $7,037
• Est. tax owed @ 24.0%: −$1,689
• After-tax cash flow: $6,938/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: Aldine ISD
• NCES district ID: 4807710
• Math proficiency: 16% ▼ -23.00%
• Reading proficiency: 21% ▼ -11.00%
• Median HH income: $37,081
• Composite: 15.42/100
• National rank: #9317
• State rank: #790 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): 57,047
• Household income: $54,411
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 2294.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 52% Black 37% Two or more races 18% White 6% Asian 4%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Lithuanian 1%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 49% English-only · Spanish 47% Vietnamese 3%

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: ▼ -98.37%
• Current HPI: 325.0499
• Rent YoY: ▼ -1.01%
• 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

-13.4% since first listed

5 events — show timeline

• 2026-03-17 Pending — HARMLS
• 2026-03-10 Pending — HARMLS
• 2026-03-07 Price Changed $129,000 HARMLS
• 2026-03-06 Listed $149,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+6.5%/yr

Latest (2025): $2,690 · +10.9% YoY. Source: county tax records.