5021 Van Fleet St · Houston, TX 77033

$125,500

2 bd · 1.0 ba · 1,093 sqft · SingleFamily public records · 119 Days on market

Built 1935 5,131 sqft lot $115/sqft · at area comps Est $158k · 21% under

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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 +29.8/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

(note. Due to many scammer sounding inquaties, I will not answer any message saying just "I have a question" or similar form letter. Please ask your question directly if you do have one. Thanks. ) A great location just south of the world-famous Texas Medical Center with tens of thousands of high paid medical professionals; minutes from 610, 288, and I45 in a definitely booming area. New constructions built up everywhere selling for $250-500k+ and renovated older houses selling for up to $250k. In fact, up and down the same street there are properties recently sold for over $300-400k each. This single family house has great potentials to be updated into a cozy home or profitable rental property, or if you like it new, a perfect setring for building a duplex or large home for greater value. The garage has been converted into a large bedroom/den with a half bath, or can be separated into a garage apartment (has room for a full bath and a kitchenette). The area has been renamed as Midtown Medical Center area. Once the medical professionals more and more moving in, the property values in the area will be skyrocketing! With such high prospect of the upside in the area, this opportunity to own a piece of property there at a very moderate price would not last long! Owner financing available but preffer cash or third party financing. Serious inquries only!

Key facts

• Half bath
• Converted garage
• Large bedroom den

Tags

• CONVERTED GARAGE
• LARGE BEDROOM DEN
• HALF BATH
• DUPLEX POTENTIAL
• MIDTOWN MEDICAL CENTER AREA

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $126k.

Deal economics

• At list price, monthly cash flow is $395 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $126k).
• Recommended offer: $114k (9.0% below list) — sets the bar for market timing.
• Cap rate 10.7% 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: 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 fast (+5.5%/yr); 345 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• At $1,758/mo this rent would consume 55% of the median local household income ($38k/yr) (locally 1728% 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 $868 of loan paydown is wiped out by about $4k 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 + 5.5% rent growth), your $35k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1935 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe 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 $114,205 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.40% ✓
• Cap rate: 10.71%
• Cash-on-cash: 15.76%
• DSCR: 1.70
• GRM: 5.9

CMA / ARV

• ARV (median comp): $158,444
• List price: $125,500
• Delta: -20.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7314 Forrestal St	0.21mi	3/1.0 (+1)	1,020 (-7%)	0mo	$105,000	$103	74
5007 Northridge Dr	0.37mi	3/1.0 (+1)	1,069 (-2%)	2mo	$163,900	$153	73
7330 Hurtgen Forest Rd	0.18mi	3/2.0 (+1)	1,154 (+6%)	3mo	$154,900	$134	71
5041 Southwind St	0.07mi	3/2.0 (+1)	1,020 (-7%)	7mo	$195,000	$191	71
5306 Kenilwood Dr	0.45mi	2/1.0	1,038 (-5%)	5mo	$80,000	$77	67
5318 Longmeadow St	0.44mi	3/1.0 (+1)	1,138 (+4%)	3mo	$125,000	$110	65
7338 Hurtgen Forest Rd	0.16mi	3/2.0 (+1)	1,230 (+12%)	2mo	$220,000	$179	61
5106 Malmedy Rd	0.54mi	3/1.5 (+1)	1,071 (-2%)	9mo	$159,999	$149	56
7713 St Lo Rd	0.61mi	3/2.0 (+1)	1,151 (+5%)	4mo	$199,900	$174	51
5009 Bataan Rd	0.45mi	3/2.0 (+1)	1,228 (+12%)	2mo	$130,500	$106	48
5233 Dieppe St	0.57mi	3/1.0 (+1)	1,237 (+13%)	3mo	$35,000	$28	44
4525 Newberry St	0.63mi	3/2.0 (+1)	1,176 (+8%)	8mo	$245,000	$208	42

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 · 5.45% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.27×
• Total profit: $9,373
• Equity at exit: $18,712

10-year hold

• IRR: 18.3%
• Equity multiple: 2.71×
• Total profit: $60,145
• Equity at exit: $10,851

Cash invested: $35,140 (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 77033

• Home prices YoY: -16.3%
• Rents YoY: 5.5%
• Active inventory: 345
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,758 high
• Mortgage (P&I): −$658
• Tax from tax record: −$217 /mo · $2,600/yr
• Insurance: −$52
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $395

Break-even live

Break-even rent $1,258

Max offer price $125,500

Occupancy floor 73%

Sensitivity live

Price	-10% $466	-5% $431	+0% $395	+5% $360	+10% $324
Rent	-10% $256	-5% $326	+0% $395	+5% $465	+10% $534
Rate	-1.0pp $458	-0.5pp $427	base $395	+0.5pp $363	+1.0pp $330

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: $31,375
• Closing costs: $3,765
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7818 Calhoun Rd Unit 8 Houston, TX	2.0	1.0	800	$1,200	$1.50	44d	1	0.46mi
7918 Jutland Rd Houston, TX	3.0	1.0	996	$1,295	$1.30	44d	1	0.47mi
8107 Calhoun Rd Houston, TX	3.0	2.5	1304	$2,250	$1.73	25d	1	0.55mi
4615 Redbud St Unit b Houston, TX	3.0	2.0	872	$1,149	$1.32	25d	1	0.55mi
4530 Mayflower St Houston, TX	3.0	2.0	1302	$1,800	$1.38	44d	1	0.55mi
5314 Northridge Dr Unit A Houston, TX	3.0	2.0	872	$1,185	$1.36	44d	1	0.58mi
4609 Bricker St Unit C Houston, TX	2.0	1.5	1100	$3,200	$2.91	13d	1	0.59mi
4609 Bricker St Unit ABC Houston, TX	3.0	2.5	1375	$3,500	$2.55	12d	1	0.59mi
4609 Bricker St Unit B Houston, TX	3.0	2.5	1300	$3,500	$2.69	13d	1	0.59mi
6928 Paris St Houston, TX	3.0	2.0	1276	$1,900	$1.49	0d	1	0.72mi
6926 Paris St Houston, TX	3.0	2.0	1276	$1,900	$1.49	0d	1	0.72mi
8521 Dosia St Houston, TX	3.0	2.0	1028	$1,665	$1.62	13d	1	0.84mi
5537 Bataan Rd Houston, TX	2.0	1.0	880	$1,300	$1.48	44d	1	0.94mi
5818 Glenhurst Dr Houston, TX	3.0	2.0	1441	$1,750	$1.21	0d	1	0.96mi
4410 Bellfort Ave Unit 4404 8 Houston, TX	2.0	1.0	812	$999	$1.23	8d	1	0.97mi
6532 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	19d	1	0.98mi
6528 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	0d	1	0.99mi
6528 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	44d	1	0.99mi
7032 Conley St Houston, TX	3.0	2.0	1220	$2,850	$2.34	44d	1	1.02mi
4007 Corder St Houston, TX	2.0	1.0	814	$885	$1.09	25d	1	1.03mi
4526 Knoxville St Unit A Houston, TX	3.0	2.5	1474	$1,775	$1.20	15d	1	1.05mi
5954 Doolittle Blvd Houston, TX	3.0	2.0	1371	$1,575	$1.15	44d	1	1.10mi
5036 Mallow St Houston, TX	3.0	3.0	1472	$2,050	$1.39	44d	1	1.19mi
5835 Southmont St Houston, TX	3.0	2.0	1200	$1,700	$1.42	44d	1	1.19mi
7823 Gladstone St Houston, TX	2.0	2.0	850	$1,600	$1.88	44d	1	1.19mi
7826 Gladstone St Houston, TX	2.0	1.0	760	$1,250	$1.64	0d	1	1.22mi
4723 Mallow St Houston, TX	3.0	2.5	1472	$1,850	$1.26	6d	1	1.22mi
6030 Schroeder Rd Houston, TX	1.0	1.0	740	$850	$1.15	44d	1	1.30mi
4515 Dewberry St Houston, TX	1.0	1.0	1400	$664	$0.47	21d	1	1.35mi
5918 Schroeder Rd Houston, TX	1.0–2.0	1.0	850	$1,000	$1.18	44d	1	1.44mi
5924 Schroeder Rd Houston, TX	2.0	1.0	900	$895	$0.99	23d	1	1.44mi
5924 Schroeder Rd Houston, TX	1.0	1.0	800	$795	$0.99	25d	1	1.44mi
5924 Schroeder Rd Houston, TX	2.0	1.0	900	$895	$0.99	44d	1	1.44mi
4326 Larkspur St Unit 3 Houston, TX	2.0	1.0	800	$1,200	$1.50	17d	1	1.44mi
8328 Corinth St Unit B Houston, TX	3.0	2.5	1500	$2,800	$1.87	21d	1	1.47mi
8010 Livingston St Houston, TX	3.0	2.0	1400	$1,800	$1.29	44d	1	1.47mi
4918 Wilmington St Unit A Houston, TX	3.0	3.0	1300	$2,100	$1.62	44d	1	1.47mi
4810 Wilmington St Unit A Houston, TX	3.0	2.0	1165	$1,650	$1.42	44d	1	1.49mi

Listing history 16 events

1. 2026-06-21
   days on market $125,500 Active 119 DOM
2. 2026-06-18
   days on market $125,500 Active 116 DOM
3. 2026-06-17
   days on market $125,500 Active 115 DOM
4. 2026-06-16
   days on market $125,500 Active 114 DOM
5. 2026-06-15
   days on market $125,500 Active 113 DOM
6. 2026-06-13
   days on market $125,500 Active 111 DOM
7. 2026-06-10
   days on market $125,500 Active 107 DOM
8. 2026-06-08
   days on market $125,500 Active 106 DOM
9. 2026-06-07
   days on market $125,500 Active 105 DOM
10. 2026-06-04
    days on market $125,500 Active 102 DOM
11. 2026-06-01
    days on market $125,500 Active 99 DOM
12. 2026-05-31
    days on market $125,500 Active 98 DOM
13. 2026-02-22
    listed $125,500 Active 1382-char remark

    Show marketing remark (1382 chars)

    (note. Due to many scammer sounding inquaties, I will not answer any message saying just "I have a question" or similar form letter. Please ask your question directly if you do have one. Thanks. ) A great location just south of the world-famous Texas Medical Center with tens of thousands of high paid medical professionals; minutes from 610, 288, and I45 in a definitely booming area. New constructions built up everywhere selling for $250-500k+ and renovated older houses selling for up to $250k. In fact, up and down the same street there are properties recently sold for over $300-400k each. This single family house has great potentials to be updated into a cozy home or profitable rental property, or if you like it new, a perfect setring for building a duplex or large home for greater value. The garage has been converted into a large bedroom/den with a half bath, or can be separated into a garage apartment (has room for a full bath and a kitchenette). The area has been renamed as Midtown Medical Center area. Once the medical professionals more and more moving in, the property values in the area will be skyrocketing! With such high prospect of the upside in the area, this opportunity to own a piece of property there at a very moderate price would not last long! Owner financing available but preffer cash or third party financing. Serious inquries only!

14. 2008-01-23
    soldstatus
15. 2008-01-23
    soldstatus
16. 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: $2,600 · $217/mo
• Projected year-2 tax: $2,600 · $217/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 8/10 Severe FEMA zone X (unshaded) · 99% 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: $21,094
• − Mortgage interest: −$7,030
• − Property taxes: −$2,600
• − Insurance: −$1,425
• − Repairs & maintenance: −$1,688
• − Management: −$1,688
• − Depreciation: −$3,651
• Taxable income: $3,013
• Est. tax owed @ 24.0%: −$723
• After-tax cash flow: $4,018/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): 29,154
• Household income: $38,071
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1728.0

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: Majority Black (55%)
• Race & ethnicity: Black 55% Hispanic / Latino 43% Two or more races 17% Native American 1%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Lithuanian 1%
• Foreign-born: 18% · 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: ▼ -41.49%
• Current HPI: 212.6472
• Rent YoY: ▲ 5.45%
• 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

4 events — show timeline

• 2026-02-22 Listed $125,500 ForSaleByOwner.com
• 2008-01-23 Sold (Public Records) — Public Records
• 2008-01-23 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+9.7%/yr

Latest (2025): $2,600 · +14.4% YoY. Source: county tax records.