418 Delaware St · Houston, TX 77029

$200,000

3 bd · 2.5 ba · 1,486 sqft · SingleFamily public records · 67 Days on market

Built 2024 2,500 sqft lot $135/sqft · at area comps Est $202k · at est. ↓ 9% 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).

• Appreciation +10.0/10.0
• ARV discount +8.0/15.0
• Cash flow +7.2/30.0
• Livability +3.7/5.0
• 1% rule +3.4/10.0
• Schools +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0

Listing remarks MLS

Welcome to your urban oasis! This beautifully designed two-story townhouse offers the perfect blend of modern style and city convenience. Featuring an open floor plan with spacious living, dining, and kitchen areas, this home is ideal for entertaining or simply enjoying everyday comfort. Natural light flows through the large windows, highlighting the sleek finishes and contemporary details throughout. Easy access to dining, shopping, and major highways, this gem puts you right in the center of it all. Whether you’re hosting friends or enjoying a quiet evening in, this home is designed to fit your lifestyle.

Key facts

• 2,500 sq ft lot
• Listed 67 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-338 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $140k (29.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $169k (15.5% below list).
• Recommended offer: $140k (29.8% below list) — sets the bar for cash-flow.
• Cap rate 4.7% 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.
• Galena Park ISD (suburban): math 32% / reading 33% proficiency, ranked #578 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Jacinto City El (math 31% / reading 32%, grade F, #2,396 of 4,322 statewide, top 56%, 714 students, 89% FRL); Galena Park Middle (math 28% / reading 31%, grade F, #1,077 of 1,662 statewide, top 66%, 943 students, 88% FRL); Galena Park H S (math 37% / reading 36%, grade F, #924 of 1,632 statewide, top 57%, 1,914 students, 87% FRL).
• Market conditions: 154 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 42% of the median local income ($48k/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 67 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price; flood insurance adds $66/mo.
• 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 $140,318 (29.8% 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 67 days. Have you received any prior offers? Is the seller open to a 30% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 4.66%
• Cash-on-cash: -5.82%
• DSCR: 0.74
• GRM: 9.9

CMA / ARV

• ARV (median comp): $202,429
• List price: $200,000
• Delta: -1.20%
• 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
320 Delaware St	0.10mi	3/2.5	1,540 (+4%)	1mo	$165,000	$107	88
326 Gans St Unit A	0.17mi	3/2.5	1,505 (+1%)	7mo	$225,000	$150	84
328 Gans St	0.16mi	3/2.0	1,456 (-2%)	4mo	$275,000	$189	84
274 Owens St	0.28mi	3/2.5	1,469 (-1%)	8mo	$110,000	$75	78
324 Gans St Unit A	0.17mi	3/2.5	1,589 (+7%)	3mo	$215,000	$135	78
414 Clinton Park St	0.20mi	3/2.0	1,579 (+6%)	8mo	$155,000	$98	72
2503 13th St	0.31mi	4/2.0 (+1)	1,420 (-4%)	4mo	$221,000	$156	68
416 Calloway St	0.33mi	3/1.0	1,584 (+7%)	5mo	$199,900	$126	64
1204 Sage Dr	0.28mi	3/1.0	1,336 (-10%)	8mo	$160,000	$120	58
213 Armstrong St	0.24mi	2/1.5 (-1)	1,281 (-14%)	4mo	$110,000	$86	53
2012 10th St	0.71mi	3/2.0	1,395 (-6%)	6mo	$230,000	$165	49
9803 Mimbrough St	0.69mi	3/2.0	1,380 (-7%)	7mo	$207,000	$150	48

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: 19.2%
• Equity multiple: 2.56×
• Total profit: $87,612
• Equity at exit: $180,176

10-year hold

• IRR: 17.7%
• Equity multiple: 5.92×
• Total profit: $275,329
• Equity at exit: $388,556

Cash invested: $56,000 (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 77029

• Home prices YoY: 7.2%
• Active inventory: 154
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,690 high
• Mortgage (P&I): −$1,049
• Tax from tax record: −$474 /mo · $5,688/yr
• Insurance: −$83
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $-338

Break-even live

Break-even rent $2,117

Max offer price $140,318

Occupancy floor —

Sensitivity live

Price	-10% $-225	-5% $-281	+0% $-338	+5% $-394	+10% $-451
Rent	-10% $-471	-5% $-405	+0% $-338	+5% $-271	+10% $-204
Rate	-1.0pp $-237	-0.5pp $-287	base $-338	+0.5pp $-390	+1.0pp $-442

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: $50,000
• Closing costs: $6,000
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
423 Armstrong St Houston, TX	3.0	2.0	1090	$1,499	$1.38	0d	1	0.06mi
403 Armstrong St Houston, TX	3.0	2.0	909	$1,399	$1.54	0d	1	0.09mi
311 Massachusetts St Unit A Houston, TX	3.0	2.0	1184	$1,700	$1.44	14d	1	0.29mi
253 N Carolina St Houston, TX	4.0	2.0	1560	$1,600	$1.03	9d	1	0.31mi
205 Bolden St Unit A Houston, TX	3.0	2.0	1200	$2,500	$2.08	45d	1	0.32mi
2216 3rd St Galena Park, TX	3.0	2.0	1500	$1,400	$0.93	45d	1	0.48mi
9821 Turnbow St Unit C Houston, TX	3.0	2.0	1140	$1,720	$1.51	45d	1	0.88mi
9710 Tuffly St Houston, TX	3.0	2.0	1275	$1,795	$1.41	26d	1	1.19mi
9709 Cargill St Houston, TX	3.0	2.0	1184	$2,300	$1.94	45d	1	1.41mi

Listing history 28 events

1. 2026-06-21
   days on market $200,000 Active 67 DOM
2. 2026-06-18
   days on market $200,000 Active 64 DOM
3. 2026-06-17
   price $200,000 Active 63 DOM
4. 2026-06-17
   days on market $210,000 Active 63 DOM
5. 2026-06-16
   days on market $210,000 Active 62 DOM
6. 2026-06-15
   days on market $210,000 Active 61 DOM
7. 2026-06-13
   days on market $210,000 Active 59 DOM
8. 2026-06-13
   days on market $210,000 Active 58 DOM
9. 2026-06-09
   days on market $210,000 Active 55 DOM
10. 2026-06-08
    days on market $210,000 Active 54 DOM
11. 2026-06-07
    days on market $210,000 Active 53 DOM
12. 2026-06-04
    days on market $210,000 Active 50 DOM
13. 2026-06-03
    days on market $210,000 Active 49 DOM
14. 2026-06-02
    days on market $210,000 Active 48 DOM
15. 2026-06-01
    days on market $210,000 Active 47 DOM
16. 2026-05-31
    days on market $210,000 Active 46 DOM
17. 2026-05-13
    price $210,000 623-char remark

    Show marketing remark (623 chars)

    Welcome to your urban oasis! This beautifully designed two-story townhouse offers the perfect blend of modern style and city convenience. Featuring an open floor plan with spacious living, dining, and kitchen areas, this home is ideal for entertaining or simply enjoying everyday comfort. Natural light flows through the large windows, highlighting the sleek finishes and contemporary details throughout. Easy access to dining, shopping, and major highways, this gem puts you right in the center of it all. Whether you’re hosting friends or enjoying a quiet evening in, this home is designed to fit your lifestyle.

18. 2026-04-15
    listed $219,999 Active 623-char remark

    Show marketing remark (623 chars)

    Welcome to your urban oasis! This beautifully designed two-story townhouse offers the perfect blend of modern style and city convenience. Featuring an open floor plan with spacious living, dining, and kitchen areas, this home is ideal for entertaining or simply enjoying everyday comfort. Natural light flows through the large windows, highlighting the sleek finishes and contemporary details throughout. Easy access to dining, shopping, and major highways, this gem puts you right in the center of it all. Whether you’re hosting friends or enjoying a quiet evening in, this home is designed to fit your lifestyle.

19. 2026-04-10
    historical
20. 2026-03-11
    price $219,999
21. 2026-03-09
    price $220,000
22. 2026-02-03
    price $224,999
23. 2025-11-10
    price $235,000
24. 2025-10-10
    listed $230,000 Active
25. 2023-12-07
    soldstatus
26. 2022-09-21
    soldstatus
27. 2022-07-08
    soldstatus
28. 2000-02-07
    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: $5,688 · $474/mo
• Projected year-2 tax: $5,688 · $474/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 7/10 Severe FEMA zone X (unshaded) · 96% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $20,275
• − Mortgage interest: −$11,203
• − Property taxes: −$5,688
• − Insurance: −$1,798
• − Repairs & maintenance: −$1,622
• − Management: −$1,622
• − Depreciation: −$5,818
• Taxable loss: −$7,476
• Est. tax savings @ 24.0%: +$1,794
• After-tax cash flow: $-2,260/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: Galena Park ISD
• NCES district ID: 4820250
• Math proficiency: 32% ▼ -20.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $43,158
• Composite: 27.62/100
• National rank: #6927
• State rank: #578 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

-8.7% since first listed

12 events — show timeline

• 2026-05-13 Price Changed $210,000 HARMLS
• 2026-04-15 Listed $219,999 HARMLS
• 2026-04-10 Listing Removed — HARMLS
• 2026-03-11 Price Changed $219,999 HARMLS
• 2026-03-09 Price Changed $220,000 HARMLS
• 2026-02-03 Price Changed $224,999 HARMLS
• 2025-11-10 Price Changed $235,000 HARMLS
• 2025-10-10 Listed $230,000 HARMLS
• 2023-12-07 Sold (Public Records) — Public Records
• 2022-09-21 Sold (Public Records) — Public Records
• 2022-07-08 Sold (Public Records) — Public Records
• 2000-02-07 Sold (Public Records) — Public Records

Property tax history

+26.8%/yr

Latest (2025): $5,688 · +477.3% YoY. Source: county tax records.