125 N Carolina St · Houston, TX 77029

$130,000

3 bd · 2.0 ba · 1,860 sqft · SingleFamily public records · 65 Days on market

Built 1966 8,132 sqft lot $70/sqft · 37% below area Est $206k · 37% under

---

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 +25.6/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +8.5/10.0
• 1% rule +7.8/10.0
• 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

Welcome to this charming 1-story 3-bed, 2.5-bath all brick home located in Clinton Park. With a spacious lot and over 1,700sqft of living space, this home boasts an abundance of natural light and beautiful wood floors in the formal areas and bedrooms. Enjoy the convenience of a breakfast bar, walk-in closets, covered patio, and a two-car garage, in house utility room. Don't miss out on this opportunity to own a lovely property in a desirable neighborhood!

Key facts

• 8,132 sq ft lot
• 2 garage spots
• Built 1966

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $308 ($4k/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: $122k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: 154 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 41% 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 $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 65 days — a 6% lower offer ($122k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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: 1.28% ✓
• Cap rate: 9.13%
• Cash-on-cash: 10.15%
• DSCR: 1.45
• GRM: 6.5

CMA / ARV

• ARV (median comp): $205,895
• List price: $130,000
• Delta: -36.86%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
805 Bank Dr	0.52mi	4/2.0 (+1)	1,788 (-4%)	13mo	$250,000	$140	54
324 Gans St Unit A	0.43mi	3/2.5	1,589 (-15%)	3mo	$215,000	$135	51
412 Pennsylvania St	0.46mi	3/2.0	1,758 (-6%)	24mo	$259,900	$148	50
510 Clinton Park St	0.33mi	2/1.0 (-1)	2,080 (+12%)	10mo	$89,000	$43	48
410 Carolina St	0.44mi	3/2.5	1,622 (-13%)	13mo	$261,000	$161	45
416 Calloway St	0.54mi	3/1.0	1,584 (-15%)	5mo	$199,900	$126	42
334 Tite St	0.58mi	3/2.0	1,618 (-13%)	11mo	$248,900	$154	42
2515 10th St	0.55mi	3/2.0	2,072 (+11%)	22mo	$199,999	$97	37
2504 4th St	0.66mi	3/2.0	1,599 (-14%)	13mo	$179,990	$113	35
417 Rhode Island St	0.54mi	3/2.5	1,598 (-14%)	20mo	$234,900	$147	32

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: 31.7%
• Equity multiple: 3.49×
• Total profit: $90,491
• Equity at exit: $117,114

10-year hold

• IRR: 27.4%
• Equity multiple: 7.90×
• Total profit: $251,246
• 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: 154
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,660 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$268 /mo · $3,211/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $308

Break-even live

Break-even rent $1,270

Max offer price $130,000

Occupancy floor 76%

Sensitivity live

Price	-10% $381	-5% $345	+0% $308	+5% $271	+10% $234
Rent	-10% $177	-5% $242	+0% $308	+5% $373	+10% $439
Rate	-1.0pp $373	-0.5pp $341	base $308	+0.5pp $274	+1.0pp $240

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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
253 N Carolina St Houston, TX	4.0	2.0	1560	$1,600	$1.03	9d	1	0.24mi
2216 3rd St Galena Park, TX	3.0	2.0	1500	$1,400	$0.93	45d	1	0.94mi
9710 Tuffly St Houston, TX	3.0	2.0	1275	$1,795	$1.41	25d	1	1.15mi

Listing history 14 events

1. 2026-06-21
   days on market $130,000 Active 65 DOM
2. 2026-06-18
   days on market $130,000 Active 62 DOM
3. 2026-06-17
   days on market $130,000 Active 61 DOM
4. 2026-06-16
   days on market $130,000 Active 60 DOM
5. 2026-06-15
   days on market $130,000 Active 59 DOM
6. 2026-06-13
   days on market $130,000 Active 57 DOM
7. 2026-06-10
   days on market $130,000 Active 53 DOM
8. 2026-06-08
   days on market $130,000 Active 52 DOM
9. 2026-06-07
   days on market $130,000 Active 51 DOM
10. 2026-06-04
    days on market $130,000 Active 48 DOM
11. 2026-06-01
    days on market $130,000 Active 45 DOM
12. 2026-05-31
    days on market $130,000 Active 44 DOM
13. 2026-04-17
    listed $130,000 Active 459-char remark

    Show marketing remark (459 chars)

    Welcome to this charming 1-story 3-bed, 2.5-bath all brick home located in Clinton Park. With a spacious lot and over 1,700sqft of living space, this home boasts an abundance of natural light and beautiful wood floors in the formal areas and bedrooms. Enjoy the convenience of a breakfast bar, walk-in closets, covered patio, and a two-car garage, in house utility room. Don't miss out on this opportunity to own a lovely property in a desirable neighborhood!

14. 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: $3,211 · $268/mo
• Projected year-2 tax: $3,211 · $268/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 6 d/yr ≥109°F today · 21 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: $19,917
• − Mortgage interest: −$7,282
• − Property taxes: −$3,211
• − Insurance: −$650
• − Repairs & maintenance: −$1,593
• − Management: −$1,593
• − Depreciation: −$3,782
• Taxable income: $1,806
• Est. tax owed @ 24.0%: −$433
• After-tax cash flow: $3,259/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

2 events — show timeline

• 2026-04-17 Listed $130,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+3.5%/yr

Latest (2025): $3,211 · +10.7% YoY. Source: county tax records.