8007 Masterson St · Houston, TX 77029

$120,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 5 Days on market

Built 1940 5,000 sqft lot Est $161k · 25% under

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Why this score? — see what drove the A- 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 +27.6/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.7/10.0
• 1% rule +6.6/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Investor Special call agent for more information

Key facts

• 5,000 sq ft lot
• Built 1940
• Listed 4 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $292 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 9.9% vs local median 3.1% 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: Port Houston El (math 22% / reading 22%, grade F, #3,333 of 4,322 statewide, top 80%, 278 students, 99% FRL); Holland Middle (math 10% / reading 16%, grade F, #1,609 of 1,662 statewide, top 97%, 644 students, 98% FRL); Furr H S (math 8% / reading 25%, grade F, #1,497 of 1,632 statewide, top 92%, 1,173 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 17% at this address vs 31% district-wide (-14 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: 154 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).
• This rent runs 35% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $13k of equity ($830 loan paydown + $12k 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 + 3.0% rent growth), your $34k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — 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 $120,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.16% ✓
• Cap rate: 9.87%
• Cash-on-cash: 12.78%
• DSCR: 1.57
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $160,704
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7919 Burman St	0.67mi	2/1.0 (-1)	816 (-6%)	13mo	$105,000	$129	43
7902 Wiggins St	0.69mi	2/1.0 (-1)	940 (+9%)	11mo	$175,000	$186	39

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 31.9%
• Equity multiple: 3.50×
• Total profit: $83,931
• Equity at exit: $108,106

10-year hold

• IRR: 27.6%
• Equity multiple: 7.92×
• Total profit: $232,582
• Equity at exit: $233,134

Cash invested: $33,600 (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 77029

• Home prices YoY: 7.2%
• Active inventory: 154
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,395 high
• Mortgage (P&I): −$629
• Tax from tax record: −$65 /mo · $781/yr
• Insurance: −$50
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $292

Break-even live

Break-even rent $1,026

Max offer price $120,000

Occupancy floor 74%

Sensitivity live

Price	-10% $359	-5% $325	+0% $292	+5% $258	+10% $224
Rent	-10% $181	-5% $236	+0% $292	+5% $347	+10% $402
Rate	-1.0pp $352	-0.5pp $322	base $292	+0.5pp $260	+1.0pp $229

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8534 Fillmore St Houston, TX	3.0	1.0	965	$1,600	$1.66	46d	1	0.78mi
7043 Avenue L Houston, TX	3.0	2.0	999	$1,845	$1.85	46d	1	1.06mi
8710 Josie St Houston, TX	3.0	1.0	1000	$1,090	$1.09	1d	1	1.10mi
8726 Josie St Houston, TX	3.0	1.0	950	$1,000	$1.05	46d	1	1.14mi
812 Maltby St Houston, TX	2.0	1.0	860	$600	$0.70	46d	1	1.24mi
7530 Canal St Unit 12 Houston, TX	2.0	1.0	825	$1,025	$1.24	6d	1	1.27mi
7530 Canal St Houston, TX	2.0	1.0	825	$988	$1.20	15d	2	1.27mi
7530 Canal St Houston, TX	2.0	1.0	825	$938	$1.14	20d	2	1.27mi
6602 Avenue R Unit D Houston, TX	2.0	1.0	830	$999	$1.20	0d	1	1.28mi
7625 Sherman St Unit 1/2 Houston, TX	2.0	1.0	654	$1,150	$1.76	46d	1	1.42mi
7310 Sherman St Houston, TX	1.0–3.0	1.0–2.0	879	$1,499	$1.71	1d	11	1.42mi
7520 Avenue C Houston, TX	1.0–2.0	1.0–2.0	745	$1,313	$1.76	46d	31	1.47mi
7250 Avenue C Houston, TX	1.0–3.0	1.0–2.0	886	$1,680	$1.90	1d	15	1.49mi
217 N 72nd St Houston, TX	2.0	2.0	1017	$1,525	$1.50	46d	1	1.49mi

Listing history 5 events

1. 2026-06-21
   days on market $120,000 Active 5 DOM
2. 2026-06-18
   days on market $120,000 Active 2 DOM
3. 2026-06-17
   statusdays on market $120,000 Active 1 DOM
4. 2026-06-07
   remarks 48-char remark
5. 2026-06-07
   listed $120,000 Pending

ⓘ 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: $781 · $65/mo
• Projected year-2 tax: $2,196 · $183/mo
• Expected delta: +$1,415/yr (+$118/mo · 181.2%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,744
• − Mortgage interest: −$6,722
• − Property taxes: −$781
• − Insurance: −$1,398
• − Repairs & maintenance: −$1,340
• − Management: −$1,340
• − Depreciation: −$3,491
• Taxable income: $1,674
• Est. tax owed @ 24.0%: −$402
• After-tax cash flow: $3,096/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): 16,154
• Household income: $48,279
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 457.0

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 Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 32% Black 22% White 5%
• Hispanic origin (detail): Mexican 66%
• Foreign-born: 31% · Canada
• Languages at home: 39% English-only · Spanish 61%

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: ▲ 18.53%
• Current HPI: 276.1811
• Rent YoY: —
• 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

3 events — show timeline

• 2026-06-04 Listing Removed — HARMLS
• 2026-06-04 Listed $120,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+6.1%/yr

Latest (2025): $781 · +11.7% YoY. Source: county tax records.