9243 E Avenue O · Houston, TX 77012

$140,000

2 bd · 1.0 ba · 1,167 sqft · SingleFamily public records · 34 Days on market

Built 1940 5,000 sqft lot $120/sqft · 22% below area Est $179k · 22% 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 +22.5/30.0
• ARV discount +15.0/15.0
• DSCR +7.2/10.0
• 1% rule +6.8/10.0
• Appreciation +4.0/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Great investment opportunity in Houston’s East End! 9243 E Avenue O includes 3/1 with a detached garage apartment ideal for rental income, guest quarters, or extended family living. Located just minutes from 610 for easy commuting and close to local restaurants, schools, and shopping. Whether you’re adding to your portfolio or searching for a property with extra flexibility, this one delivers value and potential at an attractive price!

Key facts

• Covered parking
• Nearby park
• Fence

Tags

• TWO STORY HOME
• NEARBY PARK
• COVERED PARKING
• FENCE
• WASHER AND DRYER CONNECTIONS

Property features AI

Exterior

• Utilities: Public water
• Home design: Residential property; Single-story and multi-level mix (rooms on first and second floors); Entry level on first floor
• Construction: Brick construction; Built in 1940; Composition roof; Slab foundation
• Exterior features: Corner lot

Interior

• Bedrooms: Primary bedroom on the first floor; Bedroom on the first floor (11 x 9); Bedroom on the second floor (11 x 9); Two dens on the second floor; Home can accommodate 3 bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: Dishwasher; Disposal; Microwave

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $235 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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: Harris J R El (math 12% / reading 27%, grade F, #3,583 of 4,322 statewide, top 86%, 309 students, 96% FRL); Deady Middle (math 8% / reading 21%, grade F, #1,583 of 1,662 statewide, top 96%, 588 students, 96% FRL); Milby H S (math 28% / reading 38%, grade F, #1,023 of 1,632 statewide, top 63%, 2,107 students, 93% FRL) — zoned schools average 95% FRL vs 71% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 74 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-2.1%/yr); year-one equity from $968 of loan paydown is wiped out by about $3k 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 34 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate 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 $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 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 1940 — 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 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: 1.18% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.20%
• DSCR: 1.32
• GRM: 7.1

CMA / ARV

• ARV (median comp): $178,542
• List price: $140,000
• Delta: -21.59%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9422 E East Avenue J	0.34mi	2/1.0	1,176 (+1%)	14mo	$140,000	$119	71

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

Projected returns pro-forma

-2.08% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.4%
• Equity multiple: 0.94×
• Total profit: $-2,165
• Equity at exit: $26,668

10-year hold

• IRR: 6.8%
• Equity multiple: 1.58×
• Total profit: $22,605
• Equity at exit: $22,294

Cash invested: $39,200 (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 77012

• Home prices YoY: -0.8%
• Active inventory: 74
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,651 high
• Mortgage (P&I): −$734
• Tax from tax record: −$276 /mo · $3,318/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $235

Break-even live

Break-even rent $1,353

Max offer price $140,000

Occupancy floor 81%

Sensitivity live

Price	-10% $315	-5% $275	+0% $235	+5% $196	+10% $156
Rent	-10% $105	-5% $170	+0% $235	+5% $301	+10% $366
Rate	-1.0pp $306	-0.5pp $271	base $235	+0.5pp $199	+1.0pp $162

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8503 Denby St Houston, TX	3.0	2.0	1200	$1,700	$1.42	44d	1	1.00mi
311 Massachusetts St Unit A Houston, TX	3.0	2.0	1184	$1,700	$1.44	13d	1	1.04mi
403 Armstrong St Houston, TX	3.0	2.0	909	$1,435	$1.58	5d	1	1.24mi
205 Bolden St Unit A Houston, TX	3.0	2.0	1200	$2,500	$2.08	44d	1	1.27mi
423 Armstrong St Houston, TX	3.0	2.0	1090	$1,515	$1.39	2d	1	1.27mi
2216 3rd St Galena Park, TX	3.0	2.0	1500	$1,400	$0.93	44d	1	1.31mi
335 Delaware St Houston, TX	2.0	1.0	784	$940	$1.20	13d	1	1.32mi

Listing history 19 events

1. 2026-06-18
   days on market $140,000 Active 34 DOM
2. 2026-06-17
   days on market $140,000 Active 33 DOM
3. 2026-06-16
   days on market $140,000 Active 32 DOM
4. 2026-06-15
   days on market $140,000 Active 31 DOM
5. 2026-06-13
   days on market $140,000 Active 29 DOM
6. 2026-06-10
   days on market $140,000 Active 25 DOM
7. 2026-06-08
   days on market $140,000 Active 24 DOM
8. 2026-06-07
   days on market $140,000 Active 23 DOM
9. 2026-06-04
   days on market $140,000 Active 20 DOM
10. 2026-06-01
    days on market $140,000 Active 17 DOM
11. 2026-05-31
    days on market $140,000 Active 16 DOM
12. 2026-05-15
    listed $140,000 Active 452-char remark
13. 2024-02-11
    historical $700
14. 2023-11-16
    listed $700
15. 2023-10-12
    historical $700
16. 2023-07-14
    listed $700
17. 2021-07-12
    soldstatus
18. 2002-01-04
    soldstatus
19. 1999-01-02
    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: $3,318 · $276/mo
• Projected year-2 tax: $3,318 · $276/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 5/10 Major FEMA zone X (unshaded) · 24% 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: $19,812
• − Mortgage interest: −$7,842
• − Property taxes: −$3,318
• − Insurance: −$700
• − Repairs & maintenance: −$1,585
• − Management: −$1,585
• − Depreciation: −$4,073
• Taxable income: $710
• Est. tax owed @ 24.0%: −$170
• After-tax cash flow: $2,654/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
• City population: 3,226,434
• Population (ZIP): 16,780

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 (92%)
• Race & ethnicity: Hispanic / Latino 92% Two or more races 35% Black 5% White 2%
• Hispanic origin (detail): Mexican 80%
• Common ancestry: Lithuanian 2%
• Foreign-born: 37% · Canada, Jamaica
• Languages at home: 18% English-only · Spanish 82%

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: ▼ -2.08%
• Current HPI: 274.5729
• Rent YoY: —
• Metro: —
• 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

8 events — show timeline

• 2026-05-15 Listed $140,000 HARMLS
• 2024-02-11 Rental Removed $700 HARMLS
• 2023-11-16 Listed for Rent $700 HARMLS
• 2023-10-12 Rental Removed $700 HARMLS
• 2023-07-14 Listed for Rent $700 HARMLS
• 2021-07-12 Sold (Public Records) — Public Records
• 2002-01-04 Sold (Public Records) — Public Records
• 1999-01-02 Sold (Public Records) — Public Records

Property tax history

+6.2%/yr

Latest (2025): $3,318 · +15.3% YoY. Source: county tax records.