2824 Dalton St · Houston, TX 77017

$410,000

4 bd · 4.0 ba · 3,120 sqft · MultiFamily public records · 49 Days on market

Built 1955 5,887 sqft lot $131/sqft · at area comps Est $426k · at est.

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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).

• Cash flow +18.3/30.0
• ARV discount +9.2/15.0
• DSCR +5.8/10.0
• 1% rule +4.5/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• 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

Location, Location, Location! Incredible opportunity to own a fully occupied, income-generating 4plex near Hobby Airport! Each of the four 2-bed, 1-bath units has been updated with granite countertops, modern cabinetry, stylish flooring (wood, tile & LVP), and fresh paint. Unit 1 was completely remodeled. Property updates include new appliances in select units, all A/C window units, city-to-building plumbing, water heaters (all within 3 years), and updated fan fixtures. Passed recent habitability inspection. Located across from a police officer’s residence in a stable B-/C+ neighborhood. Private entries, shared laundry access, and no HOA. Flood Zone X – No flood insurance

Key facts

• Completely remodeled
• Modern cabinetry
• Income generating

Tags

• INCOME GENERATING
• GRANITE COUNTERTOPS
• MODERN CABINETRY
• STYLISH FLOORING
• COMPLETELY REMODELED
• NEW APPLIANCES

Property features AI

Exterior

• Utilities: Cable available; Electricity available; Natural gas available
• Home design: Residential income property; Built in 1955
• Construction: Vinyl siding; Composition roof; Originally built in 1955
• Exterior features: Private entrance; Cleared lot; Located in a subdivision

Interior

• Kitchen: Granite counters (kitchen surfaces)
• Bedrooms: Four 2-bedroom units (unit breakdown: 1 unit with 2 beds, 2 units with 2 beds, 3 units with 2 beds, 4 units with 2 beds) — total of 4 units
• Flooring: Plank; Tile; Vinyl; Wood / Hardwood
• Bathrooms: One full bathroom (per unit listing indicates 1 full bathroom present)
• Heating & cooling: Window-unit heating; Window-unit cooling
• Interior features: Granite counters; Window treatments / coverings; Ceiling fan(s)
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath multifamily listed at $410k.

Deal economics

• At list price, monthly cash flow is $377 ($5k/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 $391k (4.7% below list).
• Recommended offer: $391k (4.7% below list) — sets the bar for 1% rule.
• Cap rate 7.4% vs local median 3.1% 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: Deady Middle (math 8% / reading 21%, grade F, #1,583 of 1,662 statewide, top 96%, 588 students, 96% FRL); Chavez H S (math 26% / reading 26%, grade F, #1,234 of 1,632 statewide, top 76%, 2,272 students, 93% FRL) — zoned schools average 94% FRL vs 71% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 88 active listings in the ZIP; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,909/mo this rent would consume 92% of the median local household income ($51k/yr) (locally 1601% 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 $3k of loan paydown is wiped out by about $12k 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 49 days — a 3% lower offer ($398k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 6y ago 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 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $390,900 (4.7% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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. 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?
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: 0.95% ✗
• Cap rate: 7.40%
• Cash-on-cash: 3.95%
• DSCR: 1.18
• GRM: 8.7

CMA / ARV

• ARV (median comp): $426,171
• List price: $410,000
• Delta: -3.79%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.88% rent growth · sell at horizon

5-year hold

• IRR: -12.4%
• Equity multiple: 0.56×
• Total profit: $-50,577
• Equity at exit: $61,132

10-year hold

• IRR: -6.8%
• Equity multiple: 0.61×
• Total profit: $-45,263
• Equity at exit: $35,449

Cash invested: $114,800 (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 77017

• Home prices YoY: -21.7%
• Rents YoY: 0.9%
• Active inventory: 88
• Price-to-rent: 35.0×

Monthly cashflow live

• Estimated rent: $3,909 high
• Mortgage (P&I): −$2,150
• Tax from tax record: −$390 /mo · $4,676/yr
• Insurance: −$171
• HOA: −$0
• Vacancy / Maint / Mgmt: −$821
• Net cashflow: $377

Break-even live

Break-even rent $3,431

Max offer price $410,000

Occupancy floor 85%

Sensitivity live

Price	-10% $610	-5% $494	+0% $377	+5% $261	+10% $145
Rent	-10% $69	-5% $223	+0% $377	+5% $532	+10% $686
Rate	-1.0pp $584	-0.5pp $482	base $377	+0.5pp $271	+1.0pp $163

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

Units	Beds	Baths	Est. rent
▸ 4× units	2	1	$3,908
Total (4 units)			$3,909

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: $102,500
• Closing costs: $12,300
• Reserves months: —
• Total cash needed: —

Listing history 39 events

1. 2026-06-18
   days on market $410,000 Active 49 DOM
2. 2026-06-17
   days on market $410,000 Active 48 DOM
3. 2026-06-16
   days on market $410,000 Active 47 DOM
4. 2026-06-15
   days on market $410,000 Active 46 DOM
5. 2026-06-13
   days on market $410,000 Active 44 DOM
6. 2026-06-10
   days on market $410,000 Active 40 DOM
7. 2026-06-08
   days on market $410,000 Active 39 DOM
8. 2026-06-07
   days on market $410,000 Active 38 DOM
9. 2026-06-04
   days on market $410,000 Active 35 DOM
10. 2026-06-01
    days on market $410,000 Active 32 DOM
11. 2026-05-31
    days on market $410,000 Active 31 DOM
12. 2026-04-30
    historical
13. 2026-04-30
    listed $410,000 Active 788-char remark
14. 2026-04-14
    listed $410,000 Active
15. 2026-04-14
    historical
16. 2026-02-11
    listed $410,000 Active
17. 2025-10-17
    historical
18. 2025-08-18
    listed $445,000 Active
19. 2025-08-18
    historical
20. 2025-06-10
    listed $445,000 Active
21. 2025-06-10
    historical
22. 2025-05-06
    listed $450,000 Active
23. 2025-05-04
    historical
24. 2024-09-21
    historical
25. 2024-06-27
    status Active
26. 2024-06-16
    status Option Pending
27. 2024-04-11
    listed $450,000 Active
28. 2021-08-21
    historical
29. 2021-06-18
    listed $525,000 Active
30. 2020-12-11
    soldstatus
31. 2020-10-20
    soldstatus
32. 2020-10-19
    soldstatus Sold
33. 2020-10-01
    status Pending
34. 2020-09-17
    price $349,900
35. 2020-09-11
    listed $374,900 Active
36. 2020-08-20
    soldstatus
37. 2020-08-17
    soldstatus
38. 2019-01-03
    soldstatus
39. 1999-03-23
    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: $4,676 · $390/mo
• Projected year-2 tax: $7,503 · $625/mo
• Expected delta: +$2,827/yr (+$236/mo · 60.4%)

ⓘ 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 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $46,908
• − Mortgage interest: −$22,966
• − Property taxes: −$4,676
• − Insurance: −$2,050
• − Repairs & maintenance: −$3,753
• − Management: −$3,753
• − Depreciation: −$11,927
• Taxable loss: −$2,217
• Est. tax savings @ 24.0%: +$532
• After-tax cash flow: $5,062/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): 29,640
• Household income: $51,079
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 1601.0

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 (81%)
• Race & ethnicity: Hispanic / Latino 81% Two or more races 38% White 7% Black 6% Asian 4%
• Hispanic origin (detail): Mexican 65%
• Common ancestry: Lithuanian 1%
• Foreign-born: 39% · Canada, Vietnam
• Languages at home: 32% English-only · Spanish 63% Vietnamese 4%

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: ▼ -76.86%
• Current HPI: 277.3656
• Rent YoY: ▲ 0.88%
• 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

+9.4% since first listed

28 events — show timeline

• 2026-04-30 Listed $410,000 HARMLS
• 2026-04-30 Listing Removed — HARMLS
• 2026-04-14 Listing Removed — HARMLS
• 2026-04-14 Listed $410,000 HARMLS
• 2026-02-11 Listed $410,000 HARMLS
• 2025-10-17 Listing Removed — HARMLS
• 2025-08-18 Listing Removed — HARMLS
• 2025-08-18 Listed $445,000 HARMLS
• 2025-06-10 Listing Removed — HARMLS
• 2025-06-10 Listed $445,000 HARMLS
• 2025-05-06 Listed $450,000 HARMLS
• 2025-05-04 Coming Soon — HARMLS
• 2024-09-21 Listing Removed — HARMLS
• 2024-06-27 Relisted — HARMLS
• 2024-06-16 Pending — HARMLS
• 2024-04-11 Listed $450,000 HARMLS
• 2021-08-21 Listing Removed — HARMLS
• 2021-06-18 Listed $525,000 HARMLS
• 2020-12-11 Sold (Public Records) — Public Records
• 2020-10-20 Sold (Public Records) — Public Records
• 2020-10-19 Sold (MLS) — HARMLS
• 2020-10-01 Pending — HARMLS
• 2020-09-17 Price Changed $349,900 HARMLS
• 2020-09-11 Listed $374,900 HARMLS
• 2020-08-20 Sold (Public Records) — Public Records
• 2020-08-17 Sold (Public Records) — Public Records
• 2019-01-03 Sold (Public Records) — Public Records
• 1999-03-23 Sold (Public Records) — Public Records

Property tax history

+0.8%/yr

Latest (2024): $4,676 · -23.1% YoY. Source: county tax records.