3129 Airport Blvd · Houston, TX 77051

$155,000

3 bd · 1.0 ba · 905 sqft · SingleFamily public records · 82 Days on market

Built 1950 6,381 sqft lot $171/sqft · 12% above area Est $138k · 12% over ↓ 11% since listing

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Why this score? — see what drove the C- 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 +18.2/30.0
• Appreciation +10.0/10.0
• DSCR +5.7/10.0
• 1% rule +4.3/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +1.9/15.0

Listing remarks MLS

Move-in ready and beautifully renovated, this 3-bedroom, 1-bath home offers modern updates and a prime location! Featuring a brand-new roof, new water heater, updated gas lines, new plumbing, and a new A/C system for peace of mind. Enjoy modern fixtures, ceiling fans, and new vinyl plank flooring throughout, along with fresh interior and exterior paint for a clean, inviting feel. Located with no HOA, just minutes from NRG Stadium, the Texas Medical Center, and Downtown Houston, with easy access to major highways. Whether you’re a first-time buyer or investor, this home is a great opportunity in a highly desirable area!

Key facts

• New plumbing
• New a c system
• Brand new roof

Tags

• BRAND NEW ROOF
• NEW WATER HEATER
• UPDATED GAS LINES
• NEW PLUMBING
• NEW A C SYSTEM
• MODERN FIXTURES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $140 ($2k/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 $144k (6.8% below list).
• Recommended offer: $144k (6.8% below list) — sets the bar for 1% rule.

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: Reynolds El (math 8% / reading 8%, grade F, #4,301 of 4,322 statewide, top 100%, 334 students, 98% FRL); Attucks Middle (math 15% / reading 22%, grade F, #1,478 of 1,662 statewide, top 90%, 439 students, 98% FRL); Worthing H S (math 22% / reading 21%, grade F, #1,377 of 1,632 statewide, top 85%, 827 students, 96% FRL) — zoned schools average 97% FRL vs 71% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 31% district-wide (-15 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 fast (+4.8%/yr); 321 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 4.8% rent growth), your $43k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$42k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 9588% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $144,418 (6.8% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.93% ✗
• Cap rate: 7.38%
• Cash-on-cash: 3.88%
• DSCR: 1.17
• GRM: 8.9

CMA / ARV

• ARV (median comp): $137,943
• List price: $155,000
• Delta: 12.37%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3201 Airport Blvd	0.01mi	3/2.0	984 (+9%)	22mo	$198,900	$202	62
10506 Chesterfield Dr	0.27mi	3/1.0	858 (-5%)	20mo	$84,882	$99	62
10101 Rosehaven Dr	0.35mi	3/1.0	876 (-3%)	22mo	$130,000	$148	60
10013 Cathedral Dr	0.39mi	3/1.0	813 (-10%)	20mo	$129,900	$160	48
9605 Chesterfield Dr	0.60mi	3/1.0	792 (-12%)	4mo	$50,000	$63	48
9522 Fairland Dr	0.63mi	2/1.0 (-1)	834 (-8%)	17mo	$68,900	$83	38
9502 Chesterfield Dr	0.70mi	3/2.0	978 (+8%)	17mo	$145,000	$148	36

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

Projected returns pro-forma

10.0% appreciation · 4.77% rent growth · sell at horizon

5-year hold

• IRR: 27.7%
• Equity multiple: 3.21×
• Total profit: $95,955
• Equity at exit: $139,636

10-year hold

• IRR: 24.7%
• Equity multiple: 7.48×
• Total profit: $281,205
• Equity at exit: $301,131

Cash invested: $43,400 (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 77051

• Home prices YoY: 9.7%
• Rents YoY: 4.8%
• Active inventory: 321
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,444 high
• Mortgage (P&I): −$813
• Tax from tax record: −$123 /mo · $1,477/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $140

Break-even live

Break-even rent $1,266

Max offer price $155,000

Occupancy floor 85%

Sensitivity live

Price	-10% $228	-5% $184	+0% $140	+5% $97	+10% $53
Rent	-10% $26	-5% $83	+0% $140	+5% $197	+10% $255
Rate	-1.0pp $218	-0.5pp $180	base $140	+0.5pp $100	+1.0pp $59

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10510 Cathedral Dr Houston, TX	3.0	1.0	887	$1,300	$1.47	45d	1	0.14mi
4112 Grassmere St Houston, TX	2.0	1.0	711	$700	$0.98	13d	1	0.87mi
4205 Grassmere St Houston, TX	2.0	1.0	824	$900	$1.09	26d	1	0.93mi
9414 Heno St Unit 13 Houston, TX	2.0	1.0	824	$900	$1.09	26d	1	0.93mi
4322 Groton Dr Houston, TX	3.0	1.0	858	$1,395	$1.63	45d	1	1.15mi
2889 Reed Rd Houston, TX	1.0–2.0	1.0–2.0	997	$1,648	$1.65	5d	2	1.18mi
2725 Reed Rd Houston, TX	1.0–3.0	1.0–2.5	911	$975	$1.07	45d	1	1.21mi
4205 Phlox St Unit 2 BEDROOM 6 Houston, TX	2.0	1.0	736	$860	$1.17	20d	1	1.27mi
4207 Phlox St Houston, TX	2.0	1.0	736	$962	$1.31	1d	2	1.29mi
4326 Larkspur St Unit 3 Houston, TX	2.0	1.0	800	$1,200	$1.50	19d	1	1.43mi
11900 Oakmoor Pkwy Houston, TX	1.0–3.0	1.0–2.0	892	$1,469	$1.65	5d	12	1.46mi
11800 City Park Central Ln Unit 11857 Houston, TX	2.0	2.0	885	$1,362	$1.54	45d	1	1.47mi
11800 City Park Central Ln Unit 2162 Houston, TX	2.0	2.0	885	$1,290	$1.46	7d	1	1.47mi
11800 City Park Central Ln Apt 422 Houston, TX	2.0	2.0	885	$1,290	$1.46	9d	1	1.47mi
11800 City Park Central Ln Unit 425 Houston, TX	2.0	2.0	885	$1,325	$1.50	0d	1	1.47mi
11800 City Park Central Ln Unit 2174 Houston, TX	2.0	2.0	885	$1,314	$1.48	13d	1	1.47mi
11806 City Park Central Ln Houston, TX	2.0	2.0	1107	$1,636	$1.48	45d	1	1.47mi
11806 City Park Central Ln Houston, TX	2.0	2.0	1107	$1,636	$1.48	18d	1	1.47mi

Listing history 15 events

1. 2026-06-13
   days on market $155,000 Pending 82 DOM
2. 2026-06-10
   days on market $155,000 Pending 81 DOM
3. 2026-06-08
   days on market $155,000 Pending 80 DOM
4. 2026-06-07
   days on market $155,000 Pending 79 DOM
5. 2026-06-04
   statusdays on market $155,000 Pending 76 DOM
6. 2026-06-01
   days on market $155,000 Active 73 DOM
7. 2026-05-31
   days on market $155,000 Active 72 DOM
8. 2026-05-07
   price $155,000 635-char remark

   Show marketing remark (635 chars)

   Move-in ready and beautifully renovated, this 3-bedroom, 1-bath home offers modern updates and a prime location! Featuring a brand-new roof, new water heater, updated gas lines, new plumbing, and a new A/C system for peace of mind. Enjoy modern fixtures, ceiling fans, and new vinyl plank flooring throughout, along with fresh interior and exterior paint for a clean, inviting feel. Located with no HOA, just minutes from NRG Stadium, the Texas Medical Center, and Downtown Houston, with easy access to major highways. Whether you’re a first-time buyer or investor, this home is a great opportunity in a highly desirable area!

9. 2026-04-25
   historical $1,600
10. 2026-04-14
    listed $1,600
11. 2026-04-13
    price $165,000 635-char remark

    Show marketing remark (635 chars)

    Move-in ready and beautifully renovated, this 3-bedroom, 1-bath home offers modern updates and a prime location! Featuring a brand-new roof, new water heater, updated gas lines, new plumbing, and a new A/C system for peace of mind. Enjoy modern fixtures, ceiling fans, and new vinyl plank flooring throughout, along with fresh interior and exterior paint for a clean, inviting feel. Located with no HOA, just minutes from NRG Stadium, the Texas Medical Center, and Downtown Houston, with easy access to major highways. Whether you’re a first-time buyer or investor, this home is a great opportunity in a highly desirable area!

12. 2026-03-20
    listed $175,000 Active 635-char remark

    Show marketing remark (635 chars)

    Move-in ready and beautifully renovated, this 3-bedroom, 1-bath home offers modern updates and a prime location! Featuring a brand-new roof, new water heater, updated gas lines, new plumbing, and a new A/C system for peace of mind. Enjoy modern fixtures, ceiling fans, and new vinyl plank flooring throughout, along with fresh interior and exterior paint for a clean, inviting feel. Located with no HOA, just minutes from NRG Stadium, the Texas Medical Center, and Downtown Houston, with easy access to major highways. Whether you’re a first-time buyer or investor, this home is a great opportunity in a highly desirable area!

13. 2026-01-02
    soldstatus
14. 2026-01-02
    soldstatus
15. 1988-01-01
    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: $1,477 · $123/mo
• Projected year-2 tax: $2,836 · $236/mo
• Expected delta: +$1,360/yr (+$113/mo · 92.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (shaded) · 70% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 23 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: $17,330
• − Mortgage interest: −$8,682
• − Property taxes: −$1,477
• − Insurance: −$775
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − Depreciation: −$4,509
• Taxable loss: −$886
• Est. tax savings @ 24.0%: +$213
• After-tax cash flow: $1,898/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): 19,795
• Household income: $37,415
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 1446.0

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 Black (77%)
• Race & ethnicity: Black 77% Hispanic / Latino 16% Two or more races 11% White 3%
• Hispanic origin (detail): Mexican 6% Puerto Rican 1%
• Foreign-born: 8% · Canada, China
• Languages at home: 88% English-only · Spanish 10%

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: ▲ 16.02%
• Current HPI: 180.4283
• Rent YoY: ▲ 4.77%
• 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

-11.4% since first listed

8 events — show timeline

• 2026-05-07 Price Changed $155,000 HARMLS
• 2026-04-25 Rental Removed $1,600 HARMLS
• 2026-04-14 Listed for Rent $1,600 HARMLS
• 2026-04-13 Price Changed $165,000 HARMLS
• 2026-03-20 Listed $175,000 HARMLS
• 2026-01-02 Sold (Public Records) — Public Records
• 2026-01-02 Sold (Public Records) — Public Records
• 1988-01-01 Sold (Public Records) — Public Records

Property tax history

+2.7%/yr

Latest (2025): $1,477 · +11.7% YoY. Source: county tax records.