4013 King St · Houston, TX 77026

$120,000

2 bd · 1.0 ba · 902 sqft · SingleFamily public records · 65 Days on market

Built 1938 9,199 sqft lot $133/sqft · 16% below area Est $142k · 16% under

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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 +14.6/30.0
• ARV discount +14.6/15.0
• Appreciation +6.9/10.0
• DSCR +4.5/10.0
• 1% rule +4.3/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0

Listing remarks MLS

Welcome to King St. Home has great bones and would be a great buy for a first time homeowner who doesn't mind making repairs. Area has a lot of new construction as well where two/four home are being built on same lot size, land is appreciating in value and would be a great buy and hold. No survey available, buyer would have to purchase. Lot size and soft is approximate, buyer and buyers agent to verify.

Key facts

• 9,199 sq ft lot
• Built 1938
• Listed 64 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $29 ($342/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $111k (7.2% below list).
• Recommended offer: $111k (7.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Rents rising (+3.1%/yr); 445 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 41% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 34% of the median local income ($39k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $6k of equity ($830 loan paydown + $5k appreciation (3.9% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.9% appreciation + 3.1% rent growth), your $34k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 7, 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 ($113k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1938 — 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 $111,409 (7.2% 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 7% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — 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: 0.93% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 9.0

CMA / ARV

• ARV (median comp): $142,430
• List price: $120,000
• Delta: -15.75%
• 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
3425 King St	0.34mi	3/1.0 (+1)	886 (-2%)	4mo	$140,000	$158	73
4034 King St	0.06mi	3/2.0 (+1)	812 (-10%)	7mo	$200,000	$246	66
6104 Hirsch Rd	0.25mi	2/1.0	768 (-15%)	4mo	$115,000	$150	60

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

3.89% appreciation · 3.08% rent growth · sell at horizon

5-year hold

• IRR: 10.9%
• Equity multiple: 1.66×
• Total profit: $22,158
• Equity at exit: $60,091

10-year hold

• IRR: 12.7%
• Equity multiple: 3.07×
• Total profit: $69,662
• Equity at exit: $97,690

Cash invested: $33,600 (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 77026

• Home prices YoY: 1.5%
• Rents YoY: 3.1%
• Active inventory: 445
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,114 high
• Mortgage (P&I): −$629
• Tax from tax record: −$172 /mo · $2,068/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $29

Break-even live

Break-even rent $1,078

Max offer price $120,000

Occupancy floor 92%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3107 Melbourne St Houston, TX	3.0	1.0	956	$1,500	$1.57	44d	1	0.54mi
7320 Jensen Dr Houston, TX	1.0–3.0	1.0–2.0	935	$1,010	$1.08	2d	5	0.83mi
7301 Jensen Dr Unit 50 Houston, TX	2.0	1.0	880	$999	$1.14	8d	1	0.89mi
7301 Jensen Dr Apt 12 Houston, TX	2.0	1.0	880	$930	$1.06	8d	1	0.89mi
5117 Lavender St Houston, TX	2.0–3.0	1.0	780	$1,040	$1.33	20d	2	0.91mi
5117 Lavender St Houston, TX	2.0	1.0	740	$1,065	$1.44	15d	8	0.91mi
5117 Lavender St Houston, TX	2.0	1.0	740	$1,040	$1.41	8d	4	0.91mi
7506 Jensen Dr Houston, TX	1.0–2.0	1.0–2.0	772	$1,160	$1.50	4d	12	0.93mi
2110 Melbourne St Unit 3 Houston, TX	2.0	1.0	825	$1,350	$1.64	24d	1	1.02mi
4422 Weaver Rd Apt 707 Houston, TX	2.0	1.0	765	$1,110	$1.45	44d	1	1.13mi
4442 Weaver Rd Unit 707 Houston, TX	2.0	1.0	765	$1,110	$1.45	24d	1	1.17mi
4111 Cavalcade St Unit 5 Houston, TX	2.0	1.0	757	$825	$1.09	44d	1	1.18mi
5414 Pardee St Houston, TX	3.0	2.0	1100	$1,500	$1.36	44d	1	1.22mi
6869 Arto St Houston, TX	1.0–2.0	1.0	900	$950	$1.06	17d	6	1.22mi
4679 Weaver Rd Houston, TX	2.0	1.0	856	$990	$1.16	44d	1	1.25mi
4203 Hirsch Rd Unit 5 Houston, TX	2.0	1.0	758	$950	$1.25	44d	1	1.36mi
5006 Cavalcade St Apt 2 Houston, TX	1.0	1.0	541	$850	$1.57	44d	1	1.41mi

Listing history 13 events

1. 2026-06-18
   days on market $120,000 Active 65 DOM
2. 2026-06-17
   days on market $120,000 Active 64 DOM
3. 2026-06-16
   days on market $120,000 Active 63 DOM
4. 2026-06-15
   days on market $120,000 Active 62 DOM
5. 2026-06-13
   days on market $120,000 Active 60 DOM
6. 2026-06-10
   days on market $120,000 Active 56 DOM
7. 2026-06-08
   days on market $120,000 Active 55 DOM
8. 2026-06-07
   days on market $120,000 Active 54 DOM
9. 2026-06-04
   days on market $120,000 Active 51 DOM
10. 2026-06-01
    days on market $120,000 Active 48 DOM
11. 2026-05-31
    days on market $120,000 Active 47 DOM
12. 2026-04-15
    listed $120,000 Active 406-char remark

    Show marketing remark (406 chars)

    Welcome to King St. Home has great bones and would be a great buy for a first time homeowner who doesn't mind making repairs. Area has a lot of new construction as well where two/four home are being built on same lot size, land is appreciating in value and would be a great buy and hold. No survey available, buyer would have to purchase. Lot size and soft is approximate, buyer and buyers agent to verify.

13. 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: $2,068 · $172/mo
• Projected year-2 tax: $2,196 · $183/mo
• Expected delta: +$128/yr (+$11/mo · 6.2%)

ⓘ 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) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,369
• − Mortgage interest: −$6,722
• − Property taxes: −$2,068
• − Insurance: −$600
• − Repairs & maintenance: −$1,070
• − Management: −$1,070
• − Depreciation: −$3,491
• Taxable loss: −$1,651
• Est. tax savings @ 24.0%: +$396
• After-tax cash flow: $738/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): 21,981
• Household income: $39,211
• Rent vs Own: 56.3% rent · 43.7% own
• Severe rent burden: 1531.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Black 49% Hispanic / Latino 44% Two or more races 18% White 5% Native American 1%
• Hispanic origin (detail): Mexican 34%
• Common ancestry: Lithuanian 1%
• Foreign-born: 15% · Canada
• Languages at home: 61% English-only · Spanish 39%

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: ▲ 3.89%
• Current HPI: 267.5995
• Rent YoY: ▲ 3.08%
• 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

• 2026-04-15 Listed $120,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+6.9%/yr

Latest (2025): $2,068 · +6.3% YoY. Source: county tax records.