3233 Rosedale St · Houston, TX 77004

$299,900

4 bd · 2.0 ba · 2,352 sqft · MultiFamily public records · 16 Days on market

Built 1956 5,250 sqft lot Est $383k · 22% under ↓ 24% 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 +24.3/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +6.7/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Opportunity knocks in Houston’s fast-evolving Third Ward/Riverside Terrace. This vintage duplex sits in a high-demand location just minutes from Downtown, the University of Houston, and the Texas Medical Center, placing it at the center of some of Houston’s strongest rental drivers. Each unit offers 2 bedrooms and 1 bath, creating flexible potential for investors, house hackers, or owner-occupants seeking future income. With quick access to I-45, I-69, Hwy 288, and Loop 610, tenants enjoy an easy commute to major employment, education, and entertainment hubs. As Third Ward continues to experience growth and revitalization, properties like this present a compelling value-add oppo

Key facts

• Easy commute
• On-site parking
• High-demand location

Tags

• HIGH-DEMAND LOCATION
• EASY COMMUTE
• ON-SITE PARKING

Property features AI

Finance

• Financial info: Property configured as 2 units

Exterior

• Home design: Residential income property; Total building area about 2,352
• Construction: Built in 1956; Composition roof
• Exterior features: Lot is 5,250 square feet

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating; Gas heating; Space heater; Window air conditioning units
• Interior features: Two full bathrooms

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $300k.

Deal economics

• At list price, monthly cash flow is $602 ($7k/yr) — positive. Per door: $301/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $300k).
• Recommended offer: $295k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.7% 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.
• 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 soft (-0.3%/yr); 581 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $3,517/mo this rent would consume 59% of the median local household income ($71k/yr) (locally 3072% 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 $2k of loan paydown is wiped out by about $9k 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.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $295,401 (1.5% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.17% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.61%
• DSCR: 1.38
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $383,376
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2820 Blodgett St #3	0.35mi	4/1.0	2,424 (+3%)	20mo	$350,000	$144	58
2903 Wichita St	0.33mi	4/2.0	2,660 (+13%)	14mo	$550,000	$207	51
2421 Cleburne St	0.74mi	4/2.0	2,547 (+8%)	14mo	$415,000	$163	40
2218 Arbor St	0.70mi	5/3.0 (+1)	2,628 (+12%)	4mo	$420,000	$160	36

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -6.8%
• Equity multiple: 0.76×
• Total profit: $-20,421
• Equity at exit: $44,716

10-year hold

• IRR: -1.6%
• Equity multiple: 0.91×
• Total profit: $-7,738
• Equity at exit: $25,930

Cash invested: $83,972 (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 77004

• Rents YoY: -0.3%
• Active inventory: 581
• Price-to-rent: 14.2×

Monthly cashflow live

• Estimated rent: $3,517 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$478 /mo · $5,741/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$739
• Net cashflow: $602

Break-even live

Break-even rent $2,754

Max offer price $299,900

Occupancy floor 78%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$3,518
Total (2 units)			$3,517

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4306 Ennis St Houston, TX	3.0	3.0	1989	$2,500	$1.26	43d	1	0.44mi
3535 Wentworth St Houston, TX	4.0	3.0	2600	$2,650	$1.02	22d	1	0.47mi
2703 Blodgett St Unit 1047952P Houston, TX	1.0–5.0	1.5–5.5	2497	$12,783	$5.12	2d	2	0.48mi
5505 Zoemark Ln Houston, TX	3.0	3.5	2477	$2,850	$1.15	43d	1	0.58mi
2403 Arbor St Houston, TX	3.0	2.5	2344	$2,800	$1.19	43d	1	0.63mi
2401 Eagle St Houston, TX	4.0	4.0	1700	$2,800	$1.65	43d	1	0.76mi
3229 Holman St Houston, TX	4.0	4.0	1632	$1,200	$0.74	43d	1	0.79mi
2311 Eagle St Houston, TX	3.0	4.0	1783	$2,500	$1.40	43d	1	0.82mi
3507 Canfield St Houston, TX	3.0	2.5	2200	$2,350	$1.07	24d	1	0.89mi
1910 Oakdale St Unit A Houston, TX	3.0	3.5	2452	$3,890	$1.59	12d	1	0.97mi
5927 Almeda Rd Unit AHP3 Houston, TX	4.0	4.5	3055	$7,635	$2.50	4d	1	0.97mi
5927 Almeda Rd Houston, TX	2.0–4.0	2.5–4.0	3055	$7,635	$2.50	12d	2	0.97mi
5927 Almeda Rd Houston, TX	2.0–4.0	2.5–4.0	3055	$7,635	$2.50	2d	3	0.97mi
2209 Alabama St Unit B Houston, TX	3.0	2.5	2074	$2,350	$1.13	43d	1	0.98mi
5927 Almeda Rd Houston, TX	4.0	4.0	3055	$7,635	$2.50	43d	1	0.98mi
5927 Almeda Rd Houston, TX	4.0	4.0	3055	$7,635	$2.50	24d	1	0.98mi
1818 Prospect St Houston, TX	3.0	2.0	2923	$3,400	$1.16	4d	1	1.02mi
5933 Almeda Rd Unit 2-1405 Houston, TX	4.0	4.0	3055	$7,442	$2.44	43d	1	1.03mi
6318 Grand Blvd Houston, TX	3.0	3.5	2325	$2,999	$1.29	4d	1	1.04mi
6334 Culberson St Houston, TX	3.0	3.5	1822	$2,311	$1.27	2d	1	1.07mi
6336 Culberson St Houston, TX	3.0	3.5	1822	$2,361	$1.30	5d	1	1.08mi
3405 St Emanuel St Houston, TX	4.0	5.0	2388	$2,900	$1.21	43d	1	1.15mi
30 Hermann Park Ct Houston, TX	3.0	2.0	1655	$2,605	$1.57	43d	1	1.16mi
4908 Crawford St Houston, TX	3.0	2.0	2526	$3,250	$1.29	43d	1	1.17mi
3213 Saint Emanuel St Houston, TX	4.0	3.5	2100	$3,300	$1.57	17d	1	1.21mi
5350 Crawford St Unit 5383 Houston, TX	3.0	2.0	1991	$4,460	$2.24	11d	1	1.21mi
5350 Crawford St Unit 3165 Houston, TX	3.0	2.0	1991	$4,428	$2.22	3d	1	1.21mi
6301 Almeda Rd Unit 3148 Houston, TX	3.0	2.0	1655	$2,696	$1.63	3d	1	1.22mi
6301 Almeda Rd Unit 6334 Houston, TX	3.0	2.0	1655	$2,728	$1.65	11d	1	1.22mi
3122 Lucinda St Houston, TX	5.0	5.0	1984	$999	$0.50	24d	1	1.24mi
3719 Elgin St Houston, TX	1.0–5.0	1.0–5.0	1241	$1,636	$1.32	24d	14	1.27mi
4606 Austin St Houston, TX	3.0	3.5	2950	$3,000	$1.02	43d	1	1.30mi
4135 DuPont St Houston, TX	3.0	4.0	2395	$2,499	$1.04	43d	1	1.31mi
3731 Alsace St Unit 1560804P Houston, TX	3.0	2.0	2002	$3,387	$1.69	3d	1	1.32mi
6735 Peerless St Unit CUNIT A Houston, TX	3.0	3.5	1732	$2,649	$1.53	17d	1	1.34mi
6737 Peerless St Unit A Houston, TX	3.0	3.5	1732	$2,649	$1.53	17d	1	1.34mi
1216 Rosedale St Houston, TX	3.0	3.5	2584	$3,250	$1.26	14d	1	1.36mi
1216 Rosedale St Houston, TX	3.0	3.5	2584	$3,250	$1.26	12d	1	1.36mi
5280 Caroline St Houston, TX	1.0–3.0	1.0–3.5	1880	$6,216	$3.31	2d	20	1.36mi
3518 Dennis St Unit 1387517P Houston, TX	4.0	4.0	2271	$5,110	$2.25	14d	1	1.37mi

Listing history 11 events

1. 2026-06-18
   days on market $299,900 Active 16 DOM
2. 2026-06-17
   days on market $299,900 Active 15 DOM
3. 2026-06-16
   days on market $299,900 Active 14 DOM
4. 2026-06-15
   days on market $299,900 Active 13 DOM
5. 2026-06-13
   days on market $299,900 Active 11 DOM
6. 2026-06-09
   days on market $299,900 Active 7 DOM
7. 2026-06-08
   days on market $299,900 Active 6 DOM
8. 2026-06-07
   days on market $299,900 Active 5 DOM
9. 2026-06-04
   days on market $299,900 Active 2 DOM
10. 2026-06-02
    remarks 687-char remark
11. 2026-06-02
    listed $299,900 Active 1 DOM

ⓘ 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: $5,741 · $478/mo
• Projected year-2 tax: $5,741 · $478/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 25 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: $42,204
• − Mortgage interest: −$16,799
• − Property taxes: −$5,741
• − Insurance: −$1,500
• − Repairs & maintenance: −$3,376
• − Management: −$3,376
• − Depreciation: −$8,724
• Taxable income: $2,688
• Est. tax owed @ 24.0%: −$645
• After-tax cash flow: $6,584/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): 35,997
• Household income: $71,199
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 3072.0

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 0.68)
• Race & ethnicity: Black 48% White 27% Hispanic / Latino 13% Two or more races 11% Asian 8%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 82% English-only · Spanish 10% Chinese 2% Other Indo-European 2%

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: ▼ -139.34%
• Current HPI: 199.6066
• Rent YoY: ▼ -0.32%
• 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

-24.1% since first listed

8 events — show timeline

• 2026-06-02 Listed $299,900 HARMLS
• 2026-04-28 Sold (Public Records) — Public Records
• 2026-02-18 Listing Removed — HARMLS
• 2026-01-04 Price Changed $330,000 HARMLS
• 2025-12-16 Price Changed $345,000 HARMLS
• 2025-10-20 Price Changed $369,000 HARMLS
• 2025-08-07 Listed $395,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+3.5%/yr

Latest (2025): $5,741 · -3.3% YoY. Source: county tax records.