8402 Bassett St · Houston, TX 77051

$199,000

2 bd · 1.0 ba · 816 sqft · SingleFamily public records · 264 Days on market

Built 1930 5,000 sqft lot $244/sqft · 41% above area Est $216k · 8% under

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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 +11.1/15.0
• Appreciation +10.0/10.0
• Cash flow +7.8/30.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.9/10.0

Listing remarks MLS

Come see this beautiful, completely remodeled three bedroom two bath home. He will love the custom cabinet tree, updated flooring, baseboards beautiful showers in the backyard for entertaining. Come see this home before it’s gone.

Key facts

• 5,000 sq ft lot
• Built 1930
• Listed 264 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $-222 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $160k (19.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (30.7% below list).
• Recommended offer: $138k (30.7% below list) — sets the bar for 1% rule.
• Cap rate 5.0% 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: 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); 321 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 9d on market — plan ~1-2 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).
• This rent runs 44% of the median local income ($37k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 264 days — a 12% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask is 10956% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $137,920 (30.7% 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 264 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
3. Built in 1930 — 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: 0.69% ✗
• Cap rate: 4.95%
• Cash-on-cash: -4.79%
• DSCR: 0.79
• GRM: 12.0

CMA / ARV

• ARV (median comp): $216,396
• List price: $199,000
• Delta: -8.04%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8014 Cannon St	0.35mi	2/1.0	832 (+2%)	3mo	$110,000	$132	78
8420 Parnell St	0.32mi	3/1.0 (+1)	936 (+15%)	17mo	$113,000	$121	42

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: 21.4%
• Equity multiple: 2.74×
• Total profit: $96,699
• Equity at exit: $179,275

10-year hold

• IRR: 19.7%
• Equity multiple: 6.41×
• Total profit: $301,315
• Equity at exit: $386,613

Cash invested: $55,720 (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: 321
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,379 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$185 /mo · $2,225/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $-222

Break-even live

Break-even rent $1,661

Max offer price $159,717

Occupancy floor —

Sensitivity live

Price	-10% $-110	-5% $-166	+0% $-222	+5% $-279	+10% $-335
Rent	-10% $-331	-5% $-277	+0% $-222	+5% $-168	+10% $-113
Rate	-1.0pp $-122	-0.5pp $-172	base $-222	+0.5pp $-274	+1.0pp $-326

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2889 Reed Rd Houston, TX	1.0–2.0	1.0–2.0	997	$1,648	$1.65	4d	2	0.72mi
2725 Reed Rd Houston, TX	1.0–3.0	1.0–2.5	911	$862	$0.95	45d	1	0.78mi
8383 El Mundo St Houston, TX	1.0	1.0	737	$1,292	$1.75	15d	1	0.79mi
8389 El Mundo St Houston, TX	1.0	1.0	763	$1,240	$1.63	45d	1	0.82mi
8181 El Mundo St Houston, TX	1.0–3.0	1.0–2.0	1241	$1,772	$1.43	25d	18	0.82mi
8181 El Mundo St Houston, TX	1.0–3.0	1.0–2.5	1356	$1,641	$1.21	0d	48	0.82mi
8383 El Mundo St Unit 1148 Houston, TX	1.0	1.0	737	$1,137	$1.54	0d	1	0.84mi
8383 El Mundo St Unit 8404 Houston, TX	1.0	1.0	737	$1,297	$1.76	15d	1	0.84mi
8383 El Mundo St Unit 8440 Houston, TX	2.0	2.0	1104	$1,558	$1.41	45d	1	0.84mi
8383 El Mundo St Unit 422 Houston, TX	2.0	2.0	1104	$1,529	$1.38	9d	1	0.84mi
8383 El Mundo St Unit 8457 Houston, TX	1.0	1.0	737	$1,187	$1.61	12d	1	0.84mi
8383 El Mundo St Unit 2187 Houston, TX	2.0	2.0	1104	$1,554	$1.41	0d	1	0.84mi
8383 El Mundo St Unit 2165 Houston, TX	2.0	2.0	1104	$1,513	$1.37	0d	1	0.84mi
8383 El Mundo St Unit 2174 Houston, TX	2.0	2.0	1104	$1,553	$1.41	12d	1	0.84mi
8383 El Mundo St Unit 1174 Houston, TX	1.0	1.0	737	$1,178	$1.60	0d	1	0.84mi
8383 El Mundo St Apt 321 Houston, TX	1.0	1.0	737	$1,148	$1.56	9d	1	0.84mi
8380 El Mundo St Houston, TX	1.0–2.0	1.0–2.0	712	$1,245	$1.75	0d	26	0.86mi
7826 Gladstone St Houston, TX	2.0	1.0	760	$1,250	$1.64	0d	1	0.87mi
8306 El Mundo St Houston, TX	1.0	1.0	770	$1,297	$1.68	45d	1	0.88mi
7812 Tierwester St Houston, TX	2.0	1.0	800	$950	$1.19	17d	2	0.88mi
7823 Gladstone St Houston, TX	2.0	2.0	850	$1,600	$1.88	45d	1	0.90mi
8300 El Mundo St Houston, TX	1.0	1.0	770	$948	$1.23	14d	1	0.92mi
8300 El Mundo St Unit 1174 Houston, TX	1.0	1.0	770	$989	$1.28	0d	1	0.93mi
8300 El Mundo St Unit 2174 Houston, TX	2.0	2.0	970	$1,290	$1.33	0d	1	0.93mi
8300 El Mundo St Unit 422 Houston, TX	2.0	2.0	970	$1,265	$1.30	9d	1	0.93mi
8300 El Mundo St Unit 8357 Houston, TX	2.0	2.0	970	$1,289	$1.33	12d	1	0.93mi
8300 El Mundo St Apt 324 Houston, TX	1.0	1.0	770	$959	$1.25	9d	1	0.93mi
8300 El Mundo St Unit 1112 Houston, TX	1.0	1.0	770	$948	$1.23	0d	1	0.93mi
8300 El Mundo St Unit 2112 Houston, TX	2.0	2.0	970	$1,249	$1.29	0d	1	0.93mi
8300 El Mundo St Unit 8321 Houston, TX	1.0	1.0	770	$994	$1.29	15d	1	0.93mi
8300 El Mundo St Unit 8321 Houston, TX	1.0	1.0	770	$998	$1.30	12d	1	0.93mi
8300 El Mundo St Unit 424 Houston, TX	2.0	2.0	970	$1,265	$1.30	6d	1	0.93mi
8300 El Mundo St Unit 1162 Houston, TX	1.0	1.0	770	$959	$1.25	6d	1	0.93mi
8300 El Mundo St Unit 8351 Houston, TX	1.0	1.0	770	$994	$1.29	45d	1	0.93mi
8300 El Mundo St Unit 2174 Houston, TX	2.0	2.0	970	$1,300	$1.34	12d	1	0.93mi
2750 Holly Hall St Houston, TX	1.0–2.0	1.0–2.0	704	$2,000	$2.84	3d	12	0.98mi
2750 Holly Hall St Houston, TX	1.0–2.0	1.0–2.0	796	$2,000	$2.51	45d	10	0.98mi
9000 Almeda Rd Houston, TX	1.0–2.0	1.0–2.0	927	$1,720	$1.86	0d	10	1.00mi
1600 Jester St Houston, TX	1.0	1.0	641	$1,195	$1.86	0d	3	1.10mi
8401 Almeda Rd Houston, TX	2.0	2.0	1027	$1,585	$1.54	23d	1	1.15mi

Listing history 24 events

1. 2026-06-21
   days on market $199,000 Active 264 DOM
2. 2026-06-18
   days on market $199,000 Active 261 DOM
3. 2026-06-17
   days on market $199,000 Active 260 DOM
4. 2026-06-16
   days on market $199,000 Active 259 DOM
5. 2026-06-15
   days on market $199,000 Active 258 DOM
6. 2026-06-13
   days on market $199,000 Active 256 DOM
7. 2026-06-10
   days on market $199,000 Active 252 DOM
8. 2026-06-08
   days on market $199,000 Active 251 DOM
9. 2026-06-07
   days on market $199,000 Active 250 DOM
10. 2026-06-04
    days on market $199,000 Active 247 DOM
11. 2026-06-01
    days on market $199,000 Active 244 DOM
12. 2026-05-31
    days on market $199,000 Active 243 DOM
13. 2026-03-14
    listed $1,800
14. 2026-03-14
    historical $1,800
15. 2025-10-01
    listed $1,800
16. 2025-09-30
    listed $199,000 Active 236-char remark

    Show marketing remark (236 chars)

    Come see this beautiful, completely remodeled three bedroom two bath home. He will love the custom cabinet tree, updated flooring, baseboards beautiful showers in the backyard for entertaining. Come see this home before it’s gone.

17. 2025-09-19
    historical
18. 2025-05-30
    listed $219,000 Active
19. 2024-07-30
    soldstatus
20. 2017-11-18
    historical
21. 2017-10-04
    listed $85,000 Active
22. 2006-07-12
    soldstatus
23. 2004-02-13
    soldstatus
24. 1988-01-23
    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: $2,225 · $185/mo
• Projected year-2 tax: $3,642 · $303/mo
• Expected delta: +$1,416/yr (+$118/mo · 63.6%)

ⓘ 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) · 22% 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 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: $16,550
• − Mortgage interest: −$11,147
• − Property taxes: −$2,225
• − Insurance: −$995
• − Repairs & maintenance: −$1,324
• − Management: −$1,324
• − Depreciation: −$5,789
• Taxable loss: −$6,254
• Est. tax savings @ 24.0%: +$1,501
• After-tax cash flow: $-1,167/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

-97.9% since first listed

12 events — show timeline

• 2026-03-14 Listed for Rent $1,800 HARMLS
• 2026-03-14 Rental Removed $1,800 HARMLS
• 2025-10-01 Listed for Rent $1,800 HARMLS
• 2025-09-30 Listed $199,000 HARMLS
• 2025-09-19 Listing Removed — HARMLS
• 2025-05-30 Listed $219,000 HARMLS
• 2024-07-30 Sold (Public Records) — Public Records
• 2017-11-18 Listing Removed — HARMLS
• 2017-10-04 Listed $85,000 HARMLS
• 2006-07-12 Sold (Public Records) — Public Records
• 2004-02-13 Sold (Public Records) — Public Records
• 1988-01-23 Sold (Public Records) — Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,225 · -3.3% YoY. Source: county tax records.