3411 Mcgowen St · Houston, TX 77004

$429,000

3 bd · 2.5 ba · 2,336 sqft · Other · 3 Days on market

Built 2025 2,500 sqft lot ↓ 2% since listing

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Why this score? — see what drove the D- 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 +13.0/30.0
• ARV discount +7.5/15.0
• DSCR +3.9/10.0
• Livability +3.7/5.0
• 1% rule +2.7/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to McGowen Manor, a stunning new construction home offering modern design and low maintenance living just minutes from Downtown Houston, the Texas Medical Center, Midtown, EaDo, and the University of Houston. This open concept floor plan features polished concrete floors, engineered hardwoods, abundant natural light, and a designer kitchen with quartzite countertops, custom cabinetry, oversized island, and stainless steel gas range. The spacious primary suite includes a custom walk in closet and spa inspired bath with soaking tub and walk in shower. Enjoy a private fenced yard, tankless water heater, Low E windows, 15 SEER HVAC system, smart garage opener, and no HOA. Includes a 1 2

Key facts

• 15 seer hvac system
• Low-e windows
• Fenced backyard

Tags

• OPEN CONCEPT LAYOUT
• FENCED BACKYARD
• TANKLESS WATER HEATER
• LOW-E WINDOWS
• 15 SEER HVAC SYSTEM
• MYQ CONNECTED GARAGE

Property features AI

Exterior

• Parking: Attached garage with 2 spaces; Driveway; Garage door opener
• Security: Prewired for security; Security system owned; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; New construction (2025); Slab foundation
• Construction: Cement siding and wood siding; Composition roof; Built in 2025
• Exterior features: Private yard; Fence; Backs to greenbelt/park

Interior

• Kitchen: Gas range; Gas oven; Dishwasher; Disposal
• Bedrooms: Primary bedroom on second level (20 x 19); Bedroom on second level (14 x 10); Bedroom on second level (14 x 10)
• Flooring: Concrete; Tile; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Entrance foyer; Kitchen island; Pantry; Walk-in pantry; Quartzite counters; Self-closing cabinet doors and drawers; Double vanity; Soaking tub; Separate shower; Bath in primary bedroom; Ceiling fans; Programmable thermostat; Insulated doors; Low emissivity windows
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath other listed at $429k.

Deal economics

• At list price, monthly cash flow is $-27 ($-318/yr) — negative.
• To cash-flow at today's rent, offer at most $424k (1.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $329k (23.4% below list).
• Recommended offer: $329k (23.4% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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 (-0.3%/yr); 586 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); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $3,287/mo this rent would consume 55% of the median local household income ($71k/yr) (locally 3072% 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 $3k of loan paydown is wiped out by about $13k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask is 27% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $328,704 (23.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.77% ✗
• Cap rate: 6.22%
• Cash-on-cash: -0.26%
• DSCR: 0.99
• GRM: 10.9

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: -19.8%
• Equity multiple: 0.33×
• Total profit: $-80,998
• Equity at exit: $63,965

10-year hold

• IRR: -19.8%
• Equity multiple: 0.08×
• Total profit: $-110,585
• Equity at exit: $37,092

Cash invested: $120,120 (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 77004

• Rents YoY: -0.3%
• Active inventory: 586
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $3,287 high
• Mortgage (P&I): −$2,250
• Tax from tax record: −$195 /mo · $2,338/yr
• Insurance: −$179
• HOA: −$0
• Vacancy / Maint / Mgmt: −$690
• Net cashflow: $-27

Break-even live

Break-even rent $3,321

Max offer price $424,317

Occupancy floor 96%

Sensitivity live

Price	-10% $216	-5% $95	+0% $-27	+5% $-148	+10% $-269
Rent	-10% $-286	-5% $-156	+0% $-27	+5% $103	+10% $233
Rate	-1.0pp $190	-0.5pp $83	base $-27	+0.5pp $-138	+1.0pp $-251

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: $107,250
• Closing costs: $12,870
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3335 Tuam St Houston, TX	2.0	1.0	2300	$995	$0.43	44d	1	0.17mi
3517 McIlhenny St Houston, TX	3.0	3.5	2000	$3,200	$1.60	4d	1	0.23mi
3518 Dennis St Unit 1387517P Houston, TX	4.0	4.0	2271	$5,657	$2.49	0d	1	0.24mi
3034 Gray St Houston, TX	3.0	3.0	2081	$3,000	$1.44	44d	1	0.40mi
3719 Elgin St Houston, TX	1.0–5.0	1.0–5.0	1241	$1,374	$1.11	25d	14	0.44mi
3131 Leeland St Houston, TX	3.0	3.5	1966	$2,850	$1.45	25d	1	0.55mi
3229 Holman St Houston, TX	4.0	4.0	1632	$1,200	$0.74	44d	1	0.61mi
3507 Canfield St Houston, TX	3.0	2.5	2200	$2,350	$1.07	25d	1	0.62mi
3226 McKinney St Houston, TX	3.0	3.0	2274	$2,500	$1.10	44d	1	0.82mi
4001 Dallas St Unit 1029264P Houston, TX	3.0	3.0	2174	$5,220	$2.40	0d	1	0.86mi
2103 McGowen St Unit 1244937P Houston, TX	3.0	3.5	2292	$4,732	$2.06	0d	1	0.87mi
2105 McGowen St Unit 1244936P Houston, TX	3.0	3.5	2497	$4,371	$1.75	0d	1	0.87mi
2107 McGowen St Unit 1244935P Houston, TX	3.0	3.5	2497	$4,711	$1.89	4d	1	0.87mi
2109 McGowen St Unit 1244934P Houston, TX	3.0	3.5	2497	$4,245	$1.70	0d	1	0.87mi
2519 Saint Emanuel St Unit 1241246P Houston, TX	3.0	3.0	2389	$2,621	$1.10	0d	1	0.89mi
2521 Saint Emanuel St Unit 1047945P Houston, TX	3.0	3.0	2292	$2,727	$1.19	0d	1	0.89mi
2326 St Emanuel St Houston, TX	3.0	3.5	2642	$2,601	$0.98	8d	1	0.91mi
3213 Saint Emanuel St Houston, TX	4.0	3.5	2100	$3,300	$1.57	17d	1	1.01mi
2816 Rusk St Houston, TX	3.0	3.5	2107	$2,800	$1.33	44d	1	1.03mi
3405 St Emanuel St Houston, TX	4.0	5.0	2388	$2,900	$1.21	44d	1	1.06mi
2216 Chenevert St Houston, TX	1.0–2.0	1.5–2.5	1380	$2,800	$2.03	25d	3	1.10mi
2209 Alabama St Unit B Houston, TX	3.0	2.5	2074	$2,350	$1.13	44d	1	1.10mi
4306 Ennis St Houston, TX	3.0	3.0	1989	$2,500	$1.26	44d	1	1.11mi
2504 Rusk St Unit 1563174P Houston, TX	2.0	2.0	1819	$4,036	$2.22	4d	1	1.12mi
2357 Jackson St Houston, TX	3.0	2.5	1908	$2,500	$1.31	23d	1	1.13mi
3010 Chenevert St Unit 1019638P Houston, TX	3.0	3.5	3196	$7,988	$2.50	8d	1	1.17mi
3010 Chenevert St Unit 3010 Houston, TX	3.0	3.5	3203	$8,000	$2.50	44d	1	1.17mi
2401 Eagle St Houston, TX	4.0	4.0	1700	$2,800	$1.65	44d	1	1.19mi
3535 Wentworth St Houston, TX	4.0	3.0	2600	$2,650	$1.02	23d	1	1.22mi
2311 Eagle St Houston, TX	3.0	4.0	1783	$2,500	$1.40	44d	1	1.22mi
2809 Crawford St Houston, TX	2.0	2.0	1928	$2,600	$1.35	44d	1	1.23mi
2416 La Branch St Houston, TX	3.0	4.0	2540	$2,900	$1.14	44d	1	1.29mi
2703 Blodgett St Unit 1047952P Houston, TX	1.0–5.0	1.5–5.5	2497	$11,718	$4.69	2d	2	1.33mi
2721 Austin St Houston, TX	3.0	4.0	2607	$3,000	$1.15	25d	1	1.34mi
1915 Cleburne St Houston, TX	2.0	1.0	2766	$1,800	$0.65	44d	1	1.35mi
1310 Anita St Houston, TX	2.0	2.0	1760	$2,695	$1.53	44d	1	1.42mi
4952 Polk St Unit 1531107P Houston, TX	2.0	2.0	1980	$2,327	$1.18	8d	1	1.45mi
1757 Walker St Houston, TX	2.0	2.0	1575	$4,350	$2.76	25d	1	1.49mi

Listing history 18 events

1. 2026-06-21
   days on market $429,000 Active 3 DOM
2. 2026-06-18
   days on marketlisting id $429,000 Active 1 DOM
3. 2026-06-16
   days on market $429,000 Active 33 DOM
4. 2026-06-15
   days on market $429,000 Active 32 DOM
5. 2026-06-13
   days on market $429,000 Active 30 DOM
6. 2026-06-10
   days on market $429,000 Active 26 DOM
7. 2026-06-08
   days on market $429,000 Active 25 DOM
8. 2026-06-07
   days on market $429,000 Active 24 DOM
9. 2026-06-04
   days on market $429,000 Active 21 DOM
10. 2026-06-01
    days on market $429,000 Active 18 DOM
11. 2026-05-31
    days on market $429,000 Active 17 DOM
12. 2026-05-14
    price $439,000 917-char remark
13. 2026-05-14
    listed $339,000 Active 917-char remark
14. 2026-05-14
    historical
15. 2026-04-30
    listed $439,000 Active
16. 2018-03-20
    soldstatus
17. 2016-02-18
    soldstatus
18. 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: $2,338 · $195/mo
• Projected year-2 tax: $7,851 · $654/mo
• Expected delta: +$5,513/yr (+$459/mo · 235.8%)

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

Taxation est. · year 1

• Rental income: $39,444
• − Mortgage interest: −$24,031
• − Property taxes: −$2,338
• − Insurance: −$2,145
• − Repairs & maintenance: −$3,156
• − Management: −$3,156
• − Depreciation: −$12,480
• Taxable loss: −$7,860
• Est. tax savings @ 24.0%: +$1,886
• After-tax cash flow: $1,568/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): 35,997
• Household income: $71,199
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 3072.0

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 0.68)
• Race & ethnicity: Black 48% White 27% Hispanic / Latino 13% Two or more races 11% Asian 8%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 1% Romanian 1% Italian 1%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 82% English-only · Spanish 10% Chinese 2% Other Indo-European 2%

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: ▼ -139.34%
• Current HPI: 199.6066
• Rent YoY: ▼ -0.32%
• 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

-2.3% since first listed

9 events — show timeline

• 2026-06-16 Listing Removed — HARMLS
• 2026-05-21 Price Changed $429,000 HARMLS
• 2026-05-14 Price Changed $439,000 HARMLS
• 2026-05-14 Listing Removed — HARMLS
• 2026-05-14 Listed $339,000 HARMLS
• 2026-04-30 Listed $439,000 HARMLS
• 2018-03-20 Sold (Public Records) — Public Records
• 2016-02-18 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+6.5%/yr

Latest (2025): $2,338 · +6.5% YoY. Source: county tax records.