3502 Goodhope St · Houston, TX 77021

$159,999

4 bd · 2.0 ba · 1,640 sqft · MultiFamily public records · 31 Days on market

Built 1962 5,000 sqft lot $98/sqft · 44% below area Est $287k · 44% under ↓ 16% since listing

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Excellent opportunity to buy and renovate the property as per your taste. Property is being SOLD on an AS-IS basis. Showings are allowed only with an executed contract. The house needs TLC, and it's priced to sell. Call to get further details.

Key facts

• 5,000 sq ft lot
• Built 1962
• Listed 30 days

Property features AI

Finance

• Financial info: Lease not considered

Exterior

• Utilities: Public water; Public sewer; Electric service
• Home design: Residential property; Built in 1962; Single-story entry (slab foundation)
• Construction: Brick and wood siding exterior; Composition roof; Slab foundation
• Exterior features: Located in a subdivision

Interior

• Kitchen: Dishwasher
• Bedrooms: Space for up to 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Kitchen and dining are combined; No fireplaces; 5 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $160k.

Deal economics

• At list price, monthly cash flow is $742 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $155k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.9% 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.
• 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.
• Zoned schools: Cullen Middle (math 6% / reading 14%, grade F, #1,641 of 1,662 statewide, top 99%, 324 students, 100% FRL); Yates H S (math 12% / reading 23%, grade F, #1,451 of 1,632 statewide, top 89%, 851 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 14% at this address vs 31% district-wide (-17 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+2.2%/yr); 471 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $2,474/mo this rent would consume 65% of the median local household income ($46k/yr) (locally 2532% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $45k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 7% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $155,199 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.55% ✓
• Cap rate: 11.86%
• Cash-on-cash: 19.88%
• DSCR: 1.88
• GRM: 5.4

CMA / ARV

• ARV (median comp): $286,731
• List price: $159,999
• Delta: -33.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7710 Independence St	0.68mi	4/2.0	1,860 (+13%)	19mo	$394,500	$212	30
7706 Independence St	0.68mi	4/2.0	1,860 (+13%)	20mo	$394,500	$212	30

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

Projected returns pro-forma

-3.0% appreciation · 2.17% rent growth · sell at horizon

5-year hold

• IRR: 11.0%
• Equity multiple: 1.43×
• Total profit: $19,401
• Equity at exit: $23,856

10-year hold

• IRR: 19.4%
• Equity multiple: 2.56×
• Total profit: $69,914
• Equity at exit: $13,834

Cash invested: $44,800 (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 77021

• Home prices YoY: -23.6%
• Rents YoY: 2.2%
• Active inventory: 471
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,474 high
• Mortgage (P&I): −$839
• Tax from tax record: −$307 /mo · $3,682/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $742

Break-even live

Break-even rent $1,535

Max offer price $159,999

Occupancy floor 65%

Sensitivity live

Price	-10% $833	-5% $788	+0% $742	+5% $697	+10% $652
Rent	-10% $547	-5% $645	+0% $742	+5% $840	+10% $938
Rate	-1.0pp $823	-0.5pp $783	base $742	+0.5pp $701	+1.0pp $659

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7507 Springhill St Houston, TX	3.0	3.5	2000	$4,500	$2.25	45d	1	0.16mi
3402 Nathaniel Brown St Unit B Houston, TX	3.0	2.5	1885	$2,025	$1.07	45d	1	0.36mi
3732 Seabrook St Houston, TX	3.0	2.5	1727	$2,350	$1.36	25d	1	0.42mi
3615 Dreyfus St Houston, TX	3.0	3.0	2011	$2,800	$1.39	45d	1	0.47mi
7806 Comal St Unit B Houston, TX	3.0	2.5	1800	$2,200	$1.22	45d	1	0.50mi
7379 Ardmore St Unit 1303 Houston, TX	3.0	2.0	1442	$1,967	$1.36	23d	1	0.52mi
7379 Ardmore St Unit 1303 Houston, TX	3.0	2.0	1442	$1,967	$1.36	45d	1	0.52mi
7373 Ardmore St Houston, TX	1.0–3.0	1.0–2.0	1095	$1,887	$1.72	5d	24	0.52mi
3846 Seabrook St Houston, TX	3.0	3.5	1833	$2,300	$1.25	45d	1	0.54mi
3360 Alice St Unit 3047 Houston, TX	3.0	2.0	1154	$1,172	$1.02	12d	1	0.55mi
8181 El Mundo St Houston, TX	1.0–3.0	1.0–2.5	1356	$2,262	$1.67	0d	48	0.56mi
8181 El Mundo St Houston, TX	1.0–3.0	1.0–2.0	1241	$2,041	$1.64	25d	18	0.56mi
3360 Alice St Unit 3174 Houston, TX	3.0	2.0	1154	$1,121	$0.97	0d	1	0.56mi
3360 Alice St Unit 510 Houston, TX	3.0	2.0	1154	$1,172	$1.02	13d	1	0.56mi
8010 Livingston St Houston, TX	3.0	2.0	1400	$1,800	$1.29	45d	1	0.63mi
2700 Holly Hall St Unit 2733 Houston, TX	3.0	2.0	1943	$1,998	$1.03	0d	1	0.69mi
7321 Conley St Unit A Houston, TX	3.0	2.5	1869	$2,025	$1.08	22d	1	0.83mi
7321 Conley St Unit B Houston, TX	3.0	2.0	1501	$2,025	$1.35	22d	1	0.83mi
3620 Du Bois St Unit 1302349P Houston, TX	3.0	2.5	1797	$2,945	$1.64	4d	1	0.84mi
8328 Corinth St Unit B Houston, TX	3.0	2.5	1500	$2,800	$1.87	21d	1	0.92mi
7032 Conley St Houston, TX	3.0	2.0	1220	$2,850	$2.34	45d	1	0.95mi
3311 Daphne St Unit 3311 Houston, TX	3.0	3.5	1800	$7,500	$4.17	45d	1	1.02mi
3311 Daphne St Unit 1255369P Houston, TX	3.0	3.5	1797	$6,391	$3.56	0d	1	1.02mi
4117 Shelby Cir Unit 1230900P Houston, TX	4.0	2.0	1367	$5,253	$3.84	0d	1	1.07mi
6737 Peerless St Unit A Houston, TX	3.0	3.5	1732	$2,649	$1.53	18d	1	1.08mi
6735c Peerless St Houston, TX	3.0	3.5	1732	$2,599	$1.50	0d	1	1.08mi
6735 Peerless St Unit CUNIT A Houston, TX	3.0	3.5	1732	$2,649	$1.53	18d	1	1.08mi
3024 Charline Ave Houston, TX	3.0	3.5	1995	$2,950	$1.48	45d	1	1.09mi
6809 Conley St Houston, TX	3.0	4.0	1921	$2,600	$1.35	45d	1	1.09mi
7009 Almeda Rd Houston, TX	1.0–3.0	1.0–2.0	1043	$2,296	$2.20	0d	22	1.13mi
2950 Old Spanish Trl Unit 3174 Houston, TX	3.0	2.0	1412	$2,209	$1.56	12d	1	1.15mi
2950 Old Spanish Trl Unit 2983 Houston, TX	3.0	2.0	1412	$2,220	$1.57	13d	1	1.15mi
2956 Old Spanish Trl Unit 436 Houston, TX	3.0	2.0	1412	$2,120	$1.50	45d	1	1.17mi
2950 Old Spanish Trl Unit 3165 Houston, TX	3.0	2.0	1412	$2,169	$1.54	0d	1	1.18mi
4530 Mayflower St Houston, TX	3.0	2.0	1302	$1,800	$1.38	45d	1	1.19mi
2117 Holly Hall St Houston, TX	3.0	3.0	1354	$1,579	$1.17	21d	1	1.28mi
2117 Holly Hall St Houston, TX	3.0	3.0	1354	$1,579	$1.17	45d	1	1.28mi
3731 Alsace St Unit 1560804P Houston, TX	3.0	2.0	2002	$3,387	$1.69	4d	1	1.29mi
4406 Sterling St Houston, TX	3.0	2.5	1840	$1,999	$1.09	18d	1	1.33mi
6336 Culberson St Houston, TX	3.0	3.5	1822	$2,361	$1.30	6d	1	1.34mi

Listing history 14 events

1. 2026-06-21
   days on market $159,999 Active 31 DOM
2. 2026-06-18
   days on market $159,999 Active 28 DOM
3. 2026-06-17
   days on market $159,999 Active 27 DOM
4. 2026-06-16
   days on market $159,999 Active 26 DOM
5. 2026-06-15
   days on market $159,999 Active 25 DOM
6. 2026-06-13
   days on market $159,999 Active 23 DOM
7. 2026-06-10
   days on market $159,999 Active 19 DOM
8. 2026-06-08
   days on market $159,999 Active 18 DOM
9. 2026-06-07
   days on market $159,999 Active 17 DOM
10. 2026-06-04
    days on market $159,999 Active 14 DOM
11. 2026-06-01
    days on market $159,999 Active 11 DOM
12. 2026-05-31
    days on market $159,999 Active 10 DOM
13. 2026-01-22
    listed $189,990 Active 243-char remark
14. 2019-04-05
    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: $3,682 · $307/mo
• Projected year-2 tax: $3,682 · $307/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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 6 d/yr ≥109°F today · 20 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: $29,694
• − Mortgage interest: −$8,962
• − Property taxes: −$3,682
• − Insurance: −$800
• − Repairs & maintenance: −$2,375
• − Management: −$2,375
• − Depreciation: −$4,655
• Taxable income: $6,843
• Est. tax owed @ 24.0%: −$1,642
• After-tax cash flow: $7,265/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): 26,153
• Household income: $45,574
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 2532.0

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 0.55)
• Race & ethnicity: Black 62% Hispanic / Latino 22% Two or more races 12% White 10% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 77% English-only · Spanish 19% French/Haitian/Cajun 1% Other Indo-European 1%

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: ▼ -71.22%
• Current HPI: 230.2869
• Rent YoY: ▲ 2.17%
• 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

-15.8% since first listed

5 events — show timeline

• 2026-05-22 Price Changed $159,999 HARMLS
• 2026-05-21 Listing Removed — HARMLS
• 2026-05-21 Listed $149,999 HARMLS
• 2026-01-22 Listed $189,990 HARMLS
• 2019-04-05 Sold (Public Records) — Public Records

Property tax history

+7.6%/yr

Latest (2025): $3,682 · +5.2% YoY. Source: county tax records.