3031 Friar Point Rd · Houston, TX 77051

$179,900

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 125 Days on market

Built 1955 6,050 sqft lot $134/sqft · at area comps Est $173k · at est.

---

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 +18.1/30.0
• Appreciation +10.0/10.0
• 1% rule +5.7/10.0
• DSCR +5.7/10.0
• ARV discount +5.7/15.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome home to 3031 Friar Point Road! This property offers a strong investment opportunity with a steady rental income of $1,550 per month, providing immediate cash flow from day one. The home is well-maintained, minimizing downtime and upfront costs for incoming investors. This gorgeous home features four bedrooms and multiple full bathrooms, providing ample space and modern comfort. The kitchen boasts sleek white cabinets, offering a fresh and contemporary look, while the dining room provides a stylish space for meals. The living room, along with the rest of the house, showcases elegant tile flooring, adding a touch of sophistication and ease of maintenance throughout the entire home. Don't forget to step out back for a view of the backyard. You don't want to miss all this gorgeous home has to offer! Check out the 3D tour and schedule your showing today! Property is currently leased.

Key facts

• 6,050 sq ft lot
• Built 1955
• Listed 124 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $159 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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 fast (+4.8%/yr); 312 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $1,929/mo this rent would consume 62% of the median local household income ($37k/yr) (locally 1446% 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 $19k of equity ($1k loan paydown + $18k 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 + 4.8% rent growth), your $50k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 16 sale attempts since 16y ago; this cycle's ask is 11506% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 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 1955 — 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: 1.07% ✓
• Cap rate: 7.35%
• Cash-on-cash: 3.78%
• DSCR: 1.17
• GRM: 7.8

CMA / ARV

• ARV (median comp): $173,069
• List price: $179,900
• Delta: 3.95%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2818 Milton Lodge Ln	0.57mi	3/2.5	1,384 (+3%)	2mo	$279,990	$202	61
2614 Afton Heights Way	0.60mi	3/2.5	1,384 (+3%)	1mo	$279,990	$202	61
10204 Penryn Forest Trl	0.61mi	3/2.5	1,384 (+3%)	1mo	$284,990	$206	60
3018 Elpyco St	0.30mi	4/2.0 (+1)	1,215 (-10%)	1mo	$187,000	$154	60
3034 Corksie St	0.52mi	3/2.0	1,225 (-9%)	0mo	$219,900	$180	57
10818 Carlton Dr	0.69mi	3/1.0	1,246 (-7%)	2mo	$175,999	$141	54
11416 Lucky Falls Dr	0.69mi	3/2.5	1,404 (+4%)	2mo	$291,388	$208	53
10322 Penryn Forest Trl	0.54mi	3/2.5	1,486 (+11%)	2mo	$304,990	$205	50
11018 Long Gate	0.75mi	3/1.5	1,242 (-8%)	2mo	$130,000	$105	49
10014 Sierra Dr	0.64mi	4/2.0 (+1)	1,243 (-8%)	2mo	$185,000	$149	47
10208 Penryn Forest Trl	0.60mi	3/2.5	1,486 (+11%)	2mo	$299,990	$202	47
10316 Largent Hollow Trl	0.65mi	3/2.5	1,486 (+11%)	1mo	$306,990	$207	46

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 · 4.77% rent growth · sell at horizon

5-year hold

• IRR: 27.8%
• Equity multiple: 3.22×
• Total profit: $111,690
• Equity at exit: $162,068

10-year hold

• IRR: 24.8%
• Equity multiple: 7.53×
• Total profit: $328,786
• Equity at exit: $349,506

Cash invested: $50,372 (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 77051

• Home prices YoY: 9.7%
• Rents YoY: 4.8%
• Active inventory: 312
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,929 high
• Mortgage (P&I): −$943
• Tax from tax record: −$347 /mo · $4,162/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $159

Break-even live

Break-even rent $1,728

Max offer price $179,900

Occupancy floor 87%

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2937 Amherst Meadow Ln Houston, TX	3.0	2.5	1820	$2,450	$1.35	22d	1	0.29mi
2937 Amherst Meadow Ln Unit NA Houston, TX	3.0	2.5	1820	$2,400	$1.32	5d	1	0.29mi
10510 Cathedral Dr Houston, TX	3.0	1.0	887	$1,300	$1.47	44d	1	0.38mi
10514 Wellesley Terrace Trl Houston, TX	3.0	3.0	1843	$2,300	$1.25	18d	1	0.40mi
10415 Lancaster Ln Houston, TX	3.0–4.0	2.5	1937	$2,525	$1.30	21d	1	0.49mi
9606 Ashville Dr Unit B Houston, TX	3.0	2.0	1610	$1,570	$0.98	44d	1	0.86mi
9610 Buffum St Houston, TX	3.0	3.0	1605	$1,799	$1.12	44d	1	0.89mi
2910 Reed Rd Houston, TX	1.0–3.0	1.0–2.0	967	$1,280	$1.32	2d	5	1.12mi
11819 Leitrim Way Houston, TX	3.0	1.0	1476	$1,150	$0.78	5d	1	1.14mi
11800 City Park Central Ln Unit 11857 Houston, TX	2.0	2.0	885	$1,362	$1.54	44d	1	1.24mi
11800 City Park Central Ln Unit 2174 Houston, TX	2.0	2.0	885	$1,314	$1.48	11d	1	1.24mi
11800 City Park Central Ln Apt 422 Houston, TX	2.0	2.0	885	$1,290	$1.46	8d	1	1.24mi
11800 City Park Central Ln Unit 2162 Houston, TX	2.0	2.0	885	$1,290	$1.46	5d	1	1.24mi
11800 City Park Central Ln Unit 425 Houston, TX	2.0	2.0	885	$1,282	$1.45	3d	1	1.24mi
11806 City Park Central Ln Houston, TX	2.0	2.0	1107	$1,636	$1.48	16d	1	1.24mi
11806 City Park Central Ln Houston, TX	2.0	2.0	1107	$1,636	$1.48	44d	1	1.24mi
11900 Oakmoor Pkwy Houston, TX	1.0–3.0	1.0–2.0	892	$1,469	$1.65	3d	12	1.33mi
2889 Reed Rd Houston, TX	1.0–2.0	1.0–2.0	997	$1,648	$1.65	3d	2	1.36mi
2725 Reed Rd Houston, TX	1.0–3.0	1.0–2.5	911	$975	$1.07	44d	1	1.36mi
3020 Gunnersbury Dr Houston, TX	4.0	2.0	1670	$1,499	$0.90	15d	1	1.37mi
11900 City Park Central Ln Houston, TX	1.0–2.0	1.0–2.0	877	$1,726	$1.97	2d	23	1.39mi
4015 Marchant Rd Houston, TX	3.0	2.0	1200	$1,700	$1.42	44d	1	1.39mi
2920 Stamford Hill Ln Houston, TX	3.0	2.0	1690	$2,200	$1.30	44d	1	1.43mi
11915 Sanspereil Dr Houston, TX	3.0	2.0	1308	$1,695	$1.30	3d	1	1.49mi

Listing history 50 events

1. 2026-06-18
   days on market $179,900 Active 125 DOM
2. 2026-06-17
   days on market $179,900 Active 124 DOM
3. 2026-06-16
   days on market $179,900 Active 123 DOM
4. 2026-06-15
   days on market $179,900 Active 122 DOM
5. 2026-06-13
   days on market $179,900 Active 120 DOM
6. 2026-06-10
   days on market $179,900 Active 116 DOM
7. 2026-06-08
   days on market $179,900 Active 115 DOM
8. 2026-06-07
   days on market $179,900 Active 114 DOM
9. 2026-06-04
   days on market $179,900 Active 111 DOM
10. 2026-06-01
    days on market $179,900 Active 108 DOM
11. 2026-05-31
    days on market $179,900 Active 107 DOM
12. 2026-03-30
    status Active 900-char remark

    Show marketing remark (900 chars)

    Welcome home to 3031 Friar Point Road! This property offers a strong investment opportunity with a steady rental income of $1,550 per month, providing immediate cash flow from day one. The home is well-maintained, minimizing downtime and upfront costs for incoming investors. This gorgeous home features four bedrooms and multiple full bathrooms, providing ample space and modern comfort. The kitchen boasts sleek white cabinets, offering a fresh and contemporary look, while the dining room provides a stylish space for meals. The living room, along with the rest of the house, showcases elegant tile flooring, adding a touch of sophistication and ease of maintenance throughout the entire home. Don't forget to step out back for a view of the backyard. You don't want to miss all this gorgeous home has to offer! Check out the 3D tour and schedule your showing today! Property is currently leased.

13. 2026-03-27
    historical $1,550

    Show marketing remark (900 chars)

    Welcome home to 3031 Friar Point Road! This property offers a strong investment opportunity with a steady rental income of $1,550 per month, providing immediate cash flow from day one. The home is well-maintained, minimizing downtime and upfront costs for incoming investors. This gorgeous home features four bedrooms and multiple full bathrooms, providing ample space and modern comfort. The kitchen boasts sleek white cabinets, offering a fresh and contemporary look, while the dining room provides a stylish space for meals. The living room, along with the rest of the house, showcases elegant tile flooring, adding a touch of sophistication and ease of maintenance throughout the entire home. Don't forget to step out back for a view of the backyard. You don't want to miss all this gorgeous home has to offer! Check out the 3D tour and schedule your showing today! Property is currently leased.

14. 2026-03-27
    historical 900-char remark

    Show marketing remark (900 chars)

    Welcome home to 3031 Friar Point Road! This property offers a strong investment opportunity with a steady rental income of $1,550 per month, providing immediate cash flow from day one. The home is well-maintained, minimizing downtime and upfront costs for incoming investors. This gorgeous home features four bedrooms and multiple full bathrooms, providing ample space and modern comfort. The kitchen boasts sleek white cabinets, offering a fresh and contemporary look, while the dining room provides a stylish space for meals. The living room, along with the rest of the house, showcases elegant tile flooring, adding a touch of sophistication and ease of maintenance throughout the entire home. Don't forget to step out back for a view of the backyard. You don't want to miss all this gorgeous home has to offer! Check out the 3D tour and schedule your showing today! Property is currently leased.

15. 2026-02-26
    listed $1,550
16. 2026-02-10
    listed $179,900 Active 900-char remark

    Show marketing remark (900 chars)

    Welcome home to 3031 Friar Point Road! This property offers a strong investment opportunity with a steady rental income of $1,550 per month, providing immediate cash flow from day one. The home is well-maintained, minimizing downtime and upfront costs for incoming investors. This gorgeous home features four bedrooms and multiple full bathrooms, providing ample space and modern comfort. The kitchen boasts sleek white cabinets, offering a fresh and contemporary look, while the dining room provides a stylish space for meals. The living room, along with the rest of the house, showcases elegant tile flooring, adding a touch of sophistication and ease of maintenance throughout the entire home. Don't forget to step out back for a view of the backyard. You don't want to miss all this gorgeous home has to offer! Check out the 3D tour and schedule your showing today! Property is currently leased.

17. 2026-02-10
    historical

    Show marketing remark (900 chars)

    Welcome home to 3031 Friar Point Road! This property offers a strong investment opportunity with a steady rental income of $1,550 per month, providing immediate cash flow from day one. The home is well-maintained, minimizing downtime and upfront costs for incoming investors. This gorgeous home features four bedrooms and multiple full bathrooms, providing ample space and modern comfort. The kitchen boasts sleek white cabinets, offering a fresh and contemporary look, while the dining room provides a stylish space for meals. The living room, along with the rest of the house, showcases elegant tile flooring, adding a touch of sophistication and ease of maintenance throughout the entire home. Don't forget to step out back for a view of the backyard. You don't want to miss all this gorgeous home has to offer! Check out the 3D tour and schedule your showing today! Property is currently leased.

18. 2025-12-13
    listed $179,900 Active
19. 2025-03-09
    historical $1,550
20. 2025-02-28
    historical
21. 2025-02-20
    listed $1,550
22. 2025-02-20
    historical $1,650
23. 2025-02-19
    listed $200,000 Active
24. 2025-02-19
    historical
25. 2024-10-31
    listed $1,650
26. 2024-10-17
    price $200,000
27. 2024-09-10
    listed $210,000 Active
28. 2023-01-26
    historical
29. 2022-10-07
    listed $230,000 Active
30. 2022-03-04
    soldstatus
31. 2022-03-02
    soldstatus Sold
32. 2022-02-10
    status Pending
33. 2022-02-08
    listed $100,000 Active
34. 2015-09-08
    soldstatus
35. 2015-09-05
    status Pending
36. 2015-09-04
    soldstatus Sold
37. 2015-08-25
    status Option Pending
38. 2015-08-13
    listed $50,000 Active
39. 2015-05-07
    historical
40. 2015-04-18
    listed $57,000 Active
41. 2015-04-10
    historical
42. 2015-03-06
    price $64,500
43. 2014-12-20
    listed $68,500 Active
44. 2013-09-28
    status Option Pending
45. 2013-09-03
    soldstatus
46. 2013-08-28
    soldstatus Sold
47. 2013-07-19
    listed $38,000 Active
48. 2011-10-03
    historical
49. 2011-07-16
    listed $37,000
50. 2010-07-20
    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: $4,162 · $347/mo
• Projected year-2 tax: $4,162 · $347/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $23,149
• − Mortgage interest: −$10,077
• − Property taxes: −$4,162
• − Insurance: −$900
• − Repairs & maintenance: −$1,852
• − Management: −$1,852
• − Depreciation: −$5,233
• Taxable loss: −$927
• Est. tax savings @ 24.0%: +$223
• After-tax cash flow: $2,128/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): 19,795
• Household income: $37,415
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 1446.0

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 Black (77%)
• Race & ethnicity: Black 77% Hispanic / Latino 16% Two or more races 11% White 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 10%

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: ▲ 16.02%
• Current HPI: 180.4283
• Rent YoY: ▲ 4.77%
• 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

-94.5% since first listed

44 events — show timeline

• 2026-03-30 Relisted — HARMLS
• 2026-03-27 Rental Removed $1,550 HARMLS
• 2026-03-27 Listing Removed — HARMLS
• 2026-02-26 Listed for Rent $1,550 HARMLS
• 2026-02-10 Listing Removed — HARMLS
• 2026-02-10 Listed $179,900 HARMLS
• 2025-12-13 Listed $179,900 HARMLS
• 2025-03-09 Rental Removed $1,550 HARMLS
• 2025-02-28 Listing Removed — HARMLS
• 2025-02-20 Listed for Rent $1,550 HARMLS
• 2025-02-20 Rental Removed $1,650 HARMLS
• 2025-02-19 Listing Removed — HARMLS
• 2025-02-19 Listed $200,000 HARMLS
• 2024-10-31 Listed for Rent $1,650 HARMLS
• 2024-10-17 Price Changed $200,000 HARMLS
• 2024-09-10 Listed $210,000 HARMLS
• 2023-01-26 Listing Removed — HARMLS
• 2022-10-07 Listed $230,000 HARMLS
• 2022-03-04 Sold (Public Records) — Public Records
• 2022-03-02 Sold (MLS) — HARMLS
• 2022-02-10 Pending — HARMLS
• 2022-02-08 Listed $100,000 HARMLS
• 2015-09-08 Sold (Public Records) — Public Records
• 2015-09-05 Pending — HARMLS
• 2015-09-04 Sold (MLS) — HARMLS
• 2015-08-25 Pending — HARMLS
• 2015-08-13 Listed $50,000 HARMLS
• 2015-05-07 Listing Removed — HARMLS
• 2015-04-18 Listed $57,000 HARMLS
• 2015-04-10 Listing Removed — HARMLS
• 2015-03-06 Price Changed $64,500 HARMLS
• 2014-12-20 Listed $68,500 HARMLS
• 2013-09-28 Pending — HARMLS
• 2013-09-03 Sold (Public Records) — Public Records
• 2013-08-28 Sold (MLS) — HARMLS
• 2013-07-19 Listed $38,000 HARMLS
• 2011-10-03 Listing Removed — HARMLS
• 2011-07-16 Listed $37,000 HARMLS
• 2010-07-20 Sold (MLS) — HARMLS
• 2010-06-21 Listing Removed — HARMLS
• 2010-05-24 Listed $28,000 HARMLS
• 2005-01-18 Sold (Public Records) — Public Records
• 2004-07-14 Sold (Public Records) — Public Records
• 2004-06-02 Sold (Public Records) — Public Records

Property tax history

+5.4%/yr

Latest (2025): $4,162 · +18.4% YoY. Source: county tax records.