4275 Bethel Blvd · Houston, TX 77092

$359,900

5 bd · 2.0 ba · 2,038 sqft · SingleFamily public records · 76 Days on market

Built 1960 9,378 sqft lot $177/sqft · 7% below area Est $388k · 7% 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 +28.5/30.0
• ARV discount +10.8/15.0
• DSCR +10.0/10.0
• 1% rule +8.4/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOCATION, LOCATION, LOCATION On the perfect beloved Oak Forest neighborhood, featuring a multi-room addition UNIQUE FEATURE PERSONAL SOUND RECORDING STUDIO WITH PROFESSIONAL INSULATION, CONTROL ROOM AND MUSICIAN ROOM. MAKE PERFECT FOR ENTERTAINMENT CENTER, Fresh paint, Custom shelving in rooms and closets, Central vacuum system, Hardie plank siding. Great back yard for a big gatherings and ready for a nice pool and outside patio. Come see it ready to move in.

Key facts

• Hardie plank siding
• Multi-room addition
• Control room

Tags

• MULTI-ROOM ADDITION
• CONTROL ROOM
• MUSICIAN ROOM
• CENTRAL VACUUM SYSTEM
• HARDIE PLANK SIDING
• GREAT BACK YARD

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $360k).
• Recommended offer: $338k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.2% 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: 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 soft (-2.4%/yr); 195 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $4,831/mo this rent would consume 99% of the median local household income ($59k/yr) (locally 1979% 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 $11k 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 76 days — a 6% lower offer ($338k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 3y ago; this cycle's ask is 13742% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $40k; list at $360k implies a 811% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major 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 $338,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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: 1.34% ✓
• Cap rate: 10.23%
• Cash-on-cash: 14.06%
• DSCR: 1.63
• GRM: 6.2

CMA / ARV

• ARV (median comp): $388,347
• List price: $359,900
• Delta: -7.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6023 Viking Dr	0.18mi	4/2.0 (-1)	2,088 (+2%)	9mo	$374,000	$179	75
5611 De Milo Dr	0.38mi	4/2.0 (-1)	1,951 (-4%)	3mo	$485,000	$249	67
5710 Nina Lee Ln	0.32mi	4/2.5 (-1)	2,105 (+3%)	7mo	$324,900	$154	67
4251 Bethel Blvd	0.09mi	4/2.5 (-1)	1,831 (-10%)	14mo	$449,000	$245	61
5711 Nina Lee Ln	0.32mi	4/3.0 (-1)	2,128 (+4%)	11mo	$479,900	$226	60
5718 Viking Dr	0.35mi	4/2.0 (-1)	1,819 (-11%)	2mo	$365,000	$201	59
6119 Rena St	0.68mi	4/2.0 (-1)	2,095 (+3%)	1mo	$435,000	$208	58
6006 Gilman Trace Ln	0.49mi	4/2.5 (-1)	2,114 (+4%)	8mo	$367,000	$174	58
6633 Granite St	0.62mi	4/3.0 (-1)	2,010 (-1%)	15mo	$369,900	$184	48
6318 Leaf Arbor Dr	0.66mi	4/3.0 (-1)	2,194 (+8%)	6mo	$390,000	$178	42
5325 Viking Dr	0.63mi	4/3.5 (-1)	1,809 (-11%)	8mo	$585,000	$323	34
5218 Georgi Ln	0.74mi	4/3.0 (-1)	1,855 (-9%)	14mo	$459,000	$247	30

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $2,878
• Equity at exit: $53,662

10-year hold

• IRR: 7.0%
• Equity multiple: 1.45×
• Total profit: $45,277
• Equity at exit: $31,118

Cash invested: $100,772 (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 77092

• Home prices YoY: -21.9%
• Rents YoY: -2.4%
• Active inventory: 195
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $4,831 high
• Mortgage (P&I): −$1,887
• Tax from tax record: −$599 /mo · $7,188/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,015
• Net cashflow: $1,181

Break-even live

Break-even rent $3,337

Max offer price $359,900

Occupancy floor 71%

Sensitivity live

Price	-10% $1,384	-5% $1,282	+0% $1,181	+5% $1,079	+10% $977
Rent	-10% $799	-5% $990	+0% $1,181	+5% $1,371	+10% $1,562
Rate	-1.0pp $1,362	-0.5pp $1,272	base $1,181	+0.5pp $1,087	+1.0pp $992

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: $89,975
• Closing costs: $10,797
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6230 Rena St Unit 1316407P Houston, TX	4.0	2.0	1765	$7,148	$4.05	0d	1	0.73mi
5021 Libbey Dr Unit 1472547P Houston, TX	6.0	3.0	2895	$8,646	$2.99	45d	1	0.94mi
3603 Zoch Ln Unit 1429784P Houston, TX	6.0	3.0	2798	$5,773	$2.06	0d	1	1.16mi
4701 W 43rd St Houston, TX	4.0	2.0	1508	$2,400	$1.59	6d	1	1.24mi
4601 W 43rd St Houston, TX	4.0	2.0	1531	$2,395	$1.56	25d	1	1.31mi

Listing history 34 events

1. 2026-06-21
   days on market $359,900 Active 76 DOM
2. 2026-06-18
   days on market $359,900 Active 73 DOM
3. 2026-06-17
   days on market $359,900 Active 72 DOM
4. 2026-06-16
   days on market $359,900 Active 71 DOM
5. 2026-06-15
   days on market $359,900 Active 70 DOM
6. 2026-06-13
   days on market $359,900 Active 68 DOM
7. 2026-06-10
   days on market $359,900 Active 64 DOM
8. 2026-06-08
   days on market $359,900 Active 63 DOM
9. 2026-06-07
   days on market $359,900 Active 62 DOM
10. 2026-06-04
    days on market $359,900 Active 59 DOM
11. 2026-06-01
    days on market $359,900 Active 56 DOM
12. 2026-05-31
    days on market $359,900 Active 55 DOM
13. 2026-04-28
    listed $2,600
14. 2026-04-06
    listed $359,900 Active 466-char remark

    Show marketing remark (466 chars)

    LOCATION, LOCATION, LOCATION On the perfect beloved Oak Forest neighborhood, featuring a multi-room addition UNIQUE FEATURE PERSONAL SOUND RECORDING STUDIO WITH PROFESSIONAL INSULATION, CONTROL ROOM AND MUSICIAN ROOM. MAKE PERFECT FOR ENTERTAINMENT CENTER, Fresh paint, Custom shelving in rooms and closets, Central vacuum system, Hardie plank siding. Great back yard for a big gatherings and ready for a nice pool and outside patio. Come see it ready to move in.

15. 2026-04-04
    historical
16. 2026-03-15
    listed $369,900 Active
17. 2026-03-12
    historical
18. 2026-01-15
    listed $379,900 Active
19. 2025-03-21
    historical
20. 2024-09-05
    listed $353,000 Active
21. 2024-04-26
    soldstatus
22. 2024-04-25
    soldstatus Sold
23. 2024-03-15
    status Pending
24. 2024-02-01
    listed $324,000 Active
25. 2024-01-31
    historical
26. 2023-11-14
    price $324,000
27. 2023-11-14
    status Active
28. 2023-11-03
    status Pending, Continue to Show
29. 2023-10-30
    status Option Pending
30. 2023-10-05
    price $342,000
31. 2023-09-19
    price $359,000
32. 2023-09-08
    listed $371,000 Active
33. 2023-08-31
    historical
34. 1994-09-14
    soldstatus $39,500

ⓘ 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: $7,188 · $599/mo
• Projected year-2 tax: $7,188 · $599/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 (unshaded) · 71% 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 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $57,978
• − Mortgage interest: −$20,160
• − Property taxes: −$7,188
• − Insurance: −$1,800
• − Repairs & maintenance: −$4,638
• − Management: −$4,638
• − Depreciation: −$10,470
• Taxable income: $9,084
• Est. tax owed @ 24.0%: −$2,180
• After-tax cash flow: $11,987/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): 36,938
• Household income: $58,728
• Rent vs Own: 59.4% rent · 40.6% own
• Severe rent burden: 1979.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 60% White 25% Two or more races 22% Black 11% Native American 3% Asian 2%
• Hispanic origin (detail): Mexican 45%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 30% · Canada
• Languages at home: 47% English-only · Spanish 50% Other Indo-European 1%

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: ▼ -84.24%
• Current HPI: 300.5572
• Rent YoY: ▼ -2.36%
• 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

-93.4% since first listed

22 events — show timeline

• 2026-04-28 Listed for Rent $2,600 HARMLS
• 2026-04-06 Listed $359,900 HARMLS
• 2026-04-04 Listing Removed — HARMLS
• 2026-03-15 Listed $369,900 HARMLS
• 2026-03-12 Listing Removed — HARMLS
• 2026-01-15 Listed $379,900 HARMLS
• 2025-03-21 Listing Removed — HARMLS
• 2024-09-05 Listed $353,000 HARMLS
• 2024-04-26 Sold (Public Records) — Public Records
• 2024-04-25 Sold (MLS) — HARMLS
• 2024-03-15 Pending — HARMLS
• 2024-02-01 Listed $324,000 HARMLS
• 2024-01-31 Listing Removed — HARMLS
• 2023-11-14 Price Changed $324,000 HARMLS
• 2023-11-14 Relisted — HARMLS
• 2023-11-03 Pending — HARMLS
• 2023-10-30 Pending — HARMLS
• 2023-10-05 Price Changed $342,000 HARMLS
• 2023-09-19 Price Changed $359,000 HARMLS
• 2023-09-08 Listed $371,000 HARMLS
• 2023-08-31 Coming Soon — HARMLS
• 1994-09-14 Sold (Public Records) $39,500 Public Records

Property tax history

+3.3%/yr

Latest (2025): $7,188 · +10.7% YoY. Source: county tax records.