11217 Pender Ln · Houston, TX 77477

$249,999

6 bd · 4.0 ba · 2,240 sqft · MultiFamily public records · 23 Days on market

Built 1983 6,760 sqft lot

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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 +25.2/30.0
• DSCR +8.2/10.0
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +2.1/10.0
• 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 MLS

No Flooding in Harvey!!!This is the investment property you are looking for, won't last long!!!! Call today and make your appointment

Key facts

• 6,760 sq ft lot
• Built 1983
• Listed 23 days

Property features AI

Exterior

• Utilities: Has heating; Has cooling
• Home design: Residential Income property; Built in 1983
• Construction: Composition roof; Built in 1983
• Exterior features: Composition roof

Interior

• Bedrooms: One unit with 3 bedrooms
• Bathrooms: Two full bathrooms (total)
• Heating & cooling: Central heating (gas); Central air conditioning (electric)
• Interior features: Residential income property with two total units

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $250k.

Deal economics

• At list price, monthly cash flow is $557 ($7k/yr) — positive. Per door: $278/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $246k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.0% 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.
• Alief ISD (urban): math 23% / reading 28% proficiency, ranked #717 of 826 in TX (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Holub Middle (math 22% / reading 33%, grade F, #1,156 of 1,662 statewide, top 71%, 791 students, 87% FRL).
• Market conditions: Rents soft (-1.7%/yr); 58 active listings in the ZIP; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,117/mo this rent would consume 49% of the median local household income ($76k/yr) (locally 1461% 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 $8k 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 23 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y 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

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,249 (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. 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 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: 1.25% ✓
• Cap rate: 8.97%
• Cash-on-cash: 9.54%
• DSCR: 1.42
• GRM: 6.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.80×
• Total profit: $-14,029
• Equity at exit: $37,276

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-1,222
• Equity at exit: $21,615

Cash invested: $70,000 (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 77477

• Home prices YoY: -12.2%
• Rents YoY: -1.7%
• Active inventory: 58
• Price-to-rent: 13.4×

Monthly cashflow live

• Estimated rent: $3,117 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$490 /mo · $5,886/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $557

Break-even live

Break-even rent $2,412

Max offer price $249,999

Occupancy floor 77%

Sensitivity live

Price	-10% $698	-5% $628	+0% $557	+5% $486	+10% $415
Rent	-10% $311	-5% $434	+0% $557	+5% $680	+10% $803
Rate	-1.0pp $683	-0.5pp $620	base $557	+0.5pp $492	+1.0pp $426

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,118
Total (2 units)			$3,117

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-05-09
   status Pending
2. 2026-04-30
   status Pending
3. 2026-04-27
   status Active
4. 2026-04-20
   status Pending
5. 2026-04-15
   listed $249,999 Active
6. 2025-03-24
   historical $1,449
7. 2025-03-22
   listed $1,449
8. 2025-03-21
   historical $1,449
9. 2025-03-18
   listed $1,449
10. 2023-10-12
    historical $1,500
11. 2023-09-01
    listed $1,500
12. 2021-12-01
    soldstatus
13. 2018-10-10
    soldstatus Sold 133-char remark

    Show marketing remark (133 chars)

    No Flooding in Harvey!!!This is the investment property you are looking for, won't last long!!!! Call today and make your appointment

14. 2018-10-10
    soldstatus

    Show marketing remark (133 chars)

    No Flooding in Harvey!!!This is the investment property you are looking for, won't last long!!!! Call today and make your appointment

15. 2018-09-15
    status Pending 133-char remark

    Show marketing remark (133 chars)

    No Flooding in Harvey!!!This is the investment property you are looking for, won't last long!!!! Call today and make your appointment

16. 2018-07-23
    price $164,900 133-char remark

    Show marketing remark (133 chars)

    No Flooding in Harvey!!!This is the investment property you are looking for, won't last long!!!! Call today and make your appointment

17. 2018-03-07
    listed $175,000 Active 133-char remark

    Show marketing remark (133 chars)

    No Flooding in Harvey!!!This is the investment property you are looking for, won't last long!!!! Call today and make your appointment

18. 2016-08-19
    historical
19. 2015-12-08
    price $155,000
20. 2015-12-08
    status Active
21. 2015-05-13
    historical
22. 2015-03-11
    listed $175,000 Active
23. 2007-01-24
    soldstatus
24. 1987-10-06
    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: $5,886 · $490/mo
• Projected year-2 tax: $5,886 · $490/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 6/10 Major FEMA zone X (shaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 22 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: $37,404
• − Mortgage interest: −$14,004
• − Property taxes: −$5,886
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,992
• − Management: −$2,992
• − Depreciation: −$7,273
• Taxable income: $3,007
• Est. tax owed @ 24.0%: −$722
• After-tax cash flow: $5,959/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: Alief ISD
• NCES district ID: 4807830
• Math proficiency: 23% ▼ -19.00%
• Reading proficiency: 28% ▼ -8.00%
• Median HH income: $37,775
• Composite: 21.29/100
• National rank: #8391
• State rank: #717 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: Fort Bend County · 836,777 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 33,752
• Household income: $75,744
• Rent vs Own: 63.3% rent · 36.7% own
• Severe rent burden: 1461.0

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: Highly diverse neighborhood (Simpson 0.76)
• Race & ethnicity: Black 28% Hispanic / Latino 26% Asian 24% White 18% Two or more races 12% Native American 1%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Romanian 1% Lithuanian 1% Italian 1%
• Foreign-born: 33% · Canada, China, Vietnam
• Languages at home: 54% English-only · Spanish 20% Other Indo-European 7% Other Asian/Pacific 7%

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: ▼ -37.74%
• Current HPI: 271.6488
• Rent YoY: ▼ -1.68%
• 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

+42.9% since first listed

24 events — show timeline

• 2026-05-09 Pending — HARMLS
• 2026-04-30 Pending — HARMLS
• 2026-04-27 Relisted — HARMLS
• 2026-04-20 Pending — HARMLS
• 2026-04-15 Listed $249,999 HARMLS
• 2025-03-24 Rental Removed $1,449 BUILDIUM
• 2025-03-22 Listed for Rent $1,449 BUILDIUM
• 2025-03-21 Rental Removed $1,449 HARMLS
• 2025-03-18 Listed for Rent $1,449 HARMLS
• 2023-10-12 Rental Removed $1,500 HARMLS
• 2023-09-01 Listed for Rent $1,500 HARMLS
• 2021-12-01 Sold (Public Records) — Public Records
• 2018-10-10 Sold (Public Records) — Public Records
• 2018-10-10 Sold (MLS) — HARMLS
• 2018-09-15 Pending — HARMLS
• 2018-07-23 Price Changed $164,900 HARMLS
• 2018-03-07 Listed $175,000 HARMLS
• 2016-08-19 Listing Removed — HARMLS
• 2015-12-08 Price Changed $155,000 HARMLS
• 2015-12-08 Relisted — HARMLS
• 2015-05-13 Listing Removed — HARMLS
• 2015-03-11 Listed $175,000 HARMLS
• 2007-01-24 Sold (Public Records) — Public Records
• 1987-10-06 Sold (Public Records) — Public Records

Property tax history

+6.5%/yr

Latest (2025): $5,886 · +9.4% YoY. Source: county tax records.