8016 Munn St · Houston, TX 77029

$130,000

4 bd · 2.0 ba · 1,912 sqft · SingleFamily public records · 134 Days on market

Built 1948 5,000 sqft lot $68/sqft · 32% below area Est $190k · 32% under ↓ 7% since listing

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Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• 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

4 Bedrooms ,2 Ful bathrooms, house needs lots of love.

Key facts

• 5,000 sq ft lot
• Built 1948
• Listed 133 days

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $686 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $114k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.6% 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; 2 comparable units currently listed for rent nearby; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $2,055/mo this rent would consume 51% of the median local household income ($48k/yr) (locally 457% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $14k of equity ($899 loan paydown + $13k 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 $36k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, 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 134 days — a 12% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 6y ago 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: built in 1948 — 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 $114,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 134 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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: 1.58% ✓
• Cap rate: 12.62%
• Cash-on-cash: 22.60%
• DSCR: 2.01
• GRM: 5.3

CMA / ARV

• ARV (median comp): $190,308
• List price: $130,000
• Delta: -31.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1403 Pleasantville Dr	0.64mi	4/2.0	1,860 (-3%)	15mo	$265,000	$142	53
8522 Richcroft St	0.73mi	4/2.0	1,839 (-4%)	10mo	$150,000	$82	51
1442 Silverdale St	0.61mi	3/3.0 (-1)	1,747 (-9%)	12mo	$140,000	$80	38

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: 41.2%
• Equity multiple: 4.15×
• Total profit: $114,525
• Equity at exit: $117,114

10-year hold

• IRR: 35.6%
• Equity multiple: 9.32×
• Total profit: $303,027
• Equity at exit: $252,561

Cash invested: $36,400 (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: 5.3×

Monthly cashflow live

• Estimated rent: $2,055 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$202 /mo · $2,422/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$432
• Net cashflow: $686

Break-even live

Break-even rent $1,187

Max offer price $130,000

Occupancy floor 62%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1629 Demaree Ln Houston, TX	4.0	2.0	1520	$2,225	$1.46	24d	1	0.46mi
2203 Pearl St Houston, TX	3.0	2.0	1298	$1,570	$1.21	14d	1	0.51mi

Listing history 29 events

1. 2026-06-18
   days on market $130,000 Active 134 DOM
2. 2026-06-17
   days on market $130,000 Active 133 DOM
3. 2026-06-16
   days on market $130,000 Active 132 DOM
4. 2026-06-15
   days on market $130,000 Active 131 DOM
5. 2026-06-13
   days on market $130,000 Active 129 DOM
6. 2026-06-10
   days on market $130,000 Active 125 DOM
7. 2026-06-08
   days on market $130,000 Active 124 DOM
8. 2026-06-07
   days on market $130,000 Active 123 DOM
9. 2026-06-04
   days on market $130,000 Active 120 DOM
10. 2026-06-01
    days on market $130,000 Active 117 DOM
11. 2026-05-31
    days on market $130,000 Active 116 DOM
12. 2026-02-05
    listed $130,000 Active 54-char remark

    Show marketing remark (54 chars)

    4 Bedrooms ,2 Ful bathrooms, house needs lots of love.

13. 2025-02-27
    historical
14. 2025-01-23
    price $139,000
15. 2024-12-16
    listed $140,000 Active
16. 2024-12-12
    historical
17. 2024-09-13
    listed $160,000 Active
18. 2023-06-21
    historical
19. 2023-06-12
    historical
20. 2023-02-21
    historical
21. 2022-11-29
    listed $125,000 Active
22. 2022-11-21
    historical
23. 2020-10-30
    historical
24. 2020-04-30
    listed $139,900 Active
25. 2018-02-27
    soldstatus
26. 2010-06-03
    soldstatus
27. 2008-03-07
    soldstatus
28. 2008-01-28
    soldstatus
29. 1998-10-12
    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: $2,422 · $202/mo
• Projected year-2 tax: $2,422 · $202/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 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $24,659
• − Mortgage interest: −$7,282
• − Property taxes: −$2,422
• − Insurance: −$650
• − Repairs & maintenance: −$1,973
• − Management: −$1,973
• − Depreciation: −$3,782
• Taxable income: $6,578
• Est. tax owed @ 24.0%: −$1,579
• After-tax cash flow: $6,649/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

-7.1% since first listed

18 events — show timeline

• 2026-02-05 Listed $130,000 HARMLS
• 2025-02-27 Listing Removed — HARMLS
• 2025-01-23 Price Changed $139,000 HARMLS
• 2024-12-16 Listed $140,000 HARMLS
• 2024-12-12 Listing Removed — HARMLS
• 2024-09-13 Listed $160,000 HARMLS
• 2023-06-21 Listing Removed — HARMLS
• 2023-06-12 Coming Soon — HARMLS
• 2023-02-21 Listing Removed — HARMLS
• 2022-11-29 Listed $125,000 HARMLS
• 2022-11-21 Coming Soon — HARMLS
• 2020-10-30 Listing Removed — HARMLS
• 2020-04-30 Listed $139,900 HARMLS
• 2018-02-27 Sold (Public Records) — Public Records
• 2010-06-03 Sold (Public Records) — Public Records
• 2008-03-07 Sold (Public Records) — Public Records
• 2008-01-28 Sold (Public Records) — Public Records
• 1998-10-12 Sold (Public Records) — Public Records

Property tax history

+8.2%/yr

Latest (2025): $2,422 · +11.7% YoY. Source: county tax records.