5610 Kiam St Unit B · Houston, TX 77007

$465,000

3 bd · 3.5 ba · 2,010 sqft · SingleFamily public records · 4 Days on market

Built 2009 2,134 sqft lot $231/sqft · 6% below area Est $505k · 8% under

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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 +16.8/30.0
• ARV discount +11.1/15.0
• DSCR +5.2/10.0
• 1% rule +5.0/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Just a mile from Memorial Park, White Oak trails, and the MTK shopping/dining district, this move-in-ready townhome offers prime Houston living with high-quality upgrades. NO HOA! Freshly painted interior and exterior, whole-house generator, new water heater, new Bosch kitchen appliances, and granite countertops. Natural light fills the second-floor living area with high ceilings, wood floors, and a gas-log fireplace. Three ensuite bedrooms, including a first-floor suite ideal for an in-home office or gym. The third level includes a spacious primary retreat with two walk-in closets, new light fixtures, water closet, and separate jetted tub and shower. Additional upgrades include a fully aut

Key facts

• Updated appliances
• Updated water heater
• Updated hvac

Tags

• UPDATED HVAC
• UPDATED WATER HEATER
• UPDATED APPLIANCES
• WHOLE-HOUSE GENERATOR
• NEW EPOXY GARAGE FLOOR
• CHEF'S KITCHEN

Property features AI

Finance

• Other: Green energy-efficient features: appliances, HVAC, thermostat; Lease not considered

Exterior

• Parking: Attached 2-car garage with garage door opener
• Security: Owned security system; Smoke detectors
• Utilities: Public water; Public sewer; Generator for electric
• Home design: Residential property; Built in 2009; Slab foundation; Composition roof; Cement siding and stucco exterior
• Construction: Cement siding; Stucco
• Exterior features: Fully fenced yard; Side yard

Interior

• Kitchen: Dishwasher; Gas cooktop; Gas oven; Microwave; Garbage disposal; Refrigerator; Kitchen island; Walk-in pantry
• Bedrooms: Bedroom on first level (14 x 10); Bedroom on third level (19 x 12); Primary bedroom on third level (17 x 15)
• Flooring: Carpet; Engineered hardwood; Tile
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (gas); Central electric air conditioning; Programmable thermostat
• Interior features: Crown molding; Double vanity; High ceilings; Jetted tub; Kitchen island; Kitchen open to family room; Bathroom in primary bedroom; Separate shower; Tub with shower; Walk-in pantry; Window treatments; Ceiling fans; Living and dining room combo; Programmable thermostat; Gas log fireplace
• Laundry & utility: Washer included; Dryer included; ENERGY STAR qualified appliances

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $465k.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $465k).
• Cap rate 7.1% 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.
• 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: Memorial El (math 52% / reading 52%, grade C-, #742 of 4,322 statewide, top 19%, 424 students, 45% FRL); Hogg Middle (math 44% / reading 48%, grade D+, #462 of 1,662 statewide, top 28%, 1,120 students, 52% FRL); Waltrip H S (math 15% / reading 32%, grade F, #1,342 of 1,632 statewide, top 82%, 1,597 students, 74% FRL).
• Market conditions: Rents soft (-0.8%/yr); 651 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 39% of the median local income ($145k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 18y 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $465,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.00% ✓
• Cap rate: 7.06%
• Cash-on-cash: 2.73%
• DSCR: 1.12
• GRM: 8.3

CMA / ARV

• ARV (median comp): $505,110
• List price: $465,000
• Delta: 5.92%
• 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
6313 Chelsea Falls Ln	0.36mi	3/3.5	2,050 (+2%)	2mo	$445,000	$217	78
5540 Nolda St	0.37mi	3/2.5	2,000 (-0%)	1mo	$400,000	$200	78
5817 Darling St Unit D	0.34mi	3/2.5	2,041 (+2%)	2mo	$400,000	$196	76
5976 Kansas St	0.50mi	3/4.5	1,978 (-2%)	1mo	$359,000	$181	69
2115 Cohn St	0.19mi	3/3.5	2,287 (+14%)	2mo	$449,990	$197	67
5309 Eigel St	0.60mi	3/3.5	1,961 (-2%)	2mo	$435,000	$222	66
5337 Larkin St	0.35mi	3/2.5	2,157 (+7%)	2mo	$599,000	$278	66
1506 Birdsall St	0.51mi	3/3.5	2,124 (+6%)	1mo	$425,000	$200	66
5903 Petty St Unit F	0.40mi	3/2.5	2,164 (+8%)	2mo	$505,000	$233	63
3225 Maxroy St	0.62mi	3/3.5	2,099 (+4%)	2mo	$425,000	$202	62
1510 Birdsall St	0.51mi	3/3.5	2,268 (+13%)	1mo	$389,000	$172	54
5821 Washington Ave	0.75mi	3/2.5	1,714 (-15%)	1mo	$390,000	$228	36

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: -15.6%
• Equity multiple: 0.46×
• Total profit: $-69,976
• Equity at exit: $69,333

10-year hold

• IRR: -13.7%
• Equity multiple: 0.32×
• Total profit: $-88,697
• Equity at exit: $40,205

Cash invested: $130,200 (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 77007

• Rents YoY: -0.8%
• Active inventory: 651
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $4,657 high
• Mortgage (P&I): −$2,439
• Tax from tax record: −$751 /mo · $9,008/yr
• Insurance: −$194
• HOA: −$0
• Vacancy / Maint / Mgmt: −$978
• Net cashflow: $296

Break-even live

Break-even rent $4,282

Max offer price $465,000

Occupancy floor 89%

Sensitivity live

Price	-10% $559	-5% $428	+0% $296	+5% $164	+10% $33
Rent	-10% $-72	-5% $112	+0% $296	+5% $480	+10% $664
Rate	-1.0pp $530	-0.5pp $414	base $296	+0.5pp $175	+1.0pp $53

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: $116,250
• Closing costs: $13,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5620 Petty St Houston, TX	4.0	3.5	2891	$8,750	$3.03	45d	1	0.02mi
5620 Petty St Unit 1019538P Houston, TX	4.0	3.5	2884	$16,259	$5.64	24d	1	0.02mi
5530 Kiam St Unit 1019540P Houston, TX	4.0	2.5	2680	$15,799	$5.90	45d	1	0.09mi
5530 Kiam St Houston, TX	4.0	2.5	2688	$9,750	$3.63	45d	1	0.09mi
5732 Darling St Unit 1056419P Houston, TX	3.0	3.5	2400	$7,771	$3.24	45d	1	0.19mi
2210 Radcliffe St Houston, TX	3.0	3.5	2066	$2,716	$1.31	9d	1	0.21mi
5427 Kansas St Houston, TX	3.0	4.0	2156	$2,700	$1.25	45d	1	0.22mi
2103 Radcliffe St Unit 1225772P Houston, TX	3.0	2.0	1797	$4,729	$2.63	9d	1	0.24mi
543 T C Jester Blvd Unit 1225766P Houston, TX	3.0	3.5	2389	$5,557	$2.33	1d	1	0.27mi
5336 Darling St Unit 1225767P Houston, TX	3.0	3.0	2292	$5,997	$2.62	1d	1	0.34mi
5418 Inker St Houston, TX	3.0	2.5	2357	$2,766	$1.17	0d	1	0.44mi
5235 Petty St Unit B Houston, TX	3.0	2.5	2532	$3,000	$1.18	45d	1	0.45mi
5811 Maxie St Houston, TX	3.0	3.5	2226	$3,000	$1.35	45d	1	0.51mi
5108 Larkin St Houston, TX	3.0	3.5	2108	$2,850	$1.35	46d	1	0.61mi
5610 Schuler St Houston, TX	3.0	3.5	2614	$3,111	$1.19	7d	1	0.63mi
920 Westcott St Houston, TX	1.0–2.0	1.0–2.0	1175	$3,306	$2.81	1d	28	0.71mi
3001 W 11th St Houston, TX	3.0	1.0–2.0	1031	$4,533	$4.40	0d	50	0.72mi
929 Westcott St Houston, TX	1.0–3.0	1.0–3.0	1375	$9,263	$6.74	1d	21	0.75mi
5454 Washington Ave Unit 525 Houston, TX	3.0	2.0	1444	$2,737	$1.90	0d	1	0.75mi
5454 Washington Ave Unit 5487 Houston, TX	3.0	2.0	1444	$2,726	$1.89	13d	1	0.75mi
5305 Nett St Unit A Houston, TX	3.0	3.5	2104	$2,950	$1.40	26d	1	0.77mi
4917 Nolda St Houston, TX	3.0	3.5	1764	$5,000	$2.83	26d	1	0.78mi
5237 Center St Houston, TX	3.0	3.0	2284	$2,995	$1.31	45d	1	0.84mi
4510 Inker St Houston, TX	4.0	4.0	2293	$4,500	$1.96	45d	1	1.05mi
4508 Maxie St Unit B Houston, TX	3.0	1.0	1700	$3,003	$1.77	17d	1	1.08mi
1306 Dian St Houston, TX	4.0	2.5	2151	$3,250	$1.51	1d	1	1.08mi
4608 Nett St Houston, TX	3.0	4.0	2261	$3,750	$1.66	45d	1	1.10mi
4311 Marina St Houston, TX	3.0	4.0	2328	$3,599	$1.55	45d	1	1.15mi
1723 W 14th St Unit B Houston, TX	3.0	3.5	2373	$3,400	$1.43	22d	1	1.18mi
4444 Center St Houston, TX	3.0	3.0	2121	$3,200	$1.51	45d	1	1.22mi
1126 W 16th St Houston, TX	3.0	4.0	2494	$4,295	$1.72	45d	1	1.29mi
1332 Dorothy St Houston, TX	3.0	3.5	2980	$6,500	$2.18	24d	1	1.30mi
1221 Bonner St Houston, TX	3.0	3.5	2252	$3,200	$1.42	45d	1	1.34mi
5359 Memorial Dr Houston, TX	3.0	2.0	1478	$2,562	$1.73	45d	1	1.40mi
525 Yale St Houston, TX	2.0	1.0–2.0	1017	$3,295	$3.24	1d	41	1.42mi
5201 Memorial Dr Houston, TX	1.0–2.0	1.0–2.5	1071	$3,361	$3.14	0d	16	1.43mi
655 Yale St Houston, TX	2.0	1.0–2.0	978	$2,857	$2.92	0d	36	1.44mi
1157 W 18th St Houston, TX	3.0	3.0	2431	$3,500	$1.44	45d	1	1.45mi
1113 W 18th St Unit C Houston, TX	4.0	3.5	2150	$3,249	$1.51	45d	1	1.47mi
5353 Memorial Dr Houston, TX	1.0–3.0	1.0–2.5	1118	$3,095	$2.77	4d	19	1.48mi

Listing history 26 events

1. 2026-06-21
   days on market $465,000 Active 4 DOM
2. 2026-06-17
   pricedays on marketlisting id $465,000 Active 1 DOM
3. 2026-06-16
   days on market $495,000 Active 19 DOM
4. 2026-06-15
   days on market $495,000 Active 18 DOM
5. 2026-06-13
   days on market $495,000 Active 16 DOM
6. 2026-06-09
   days on market $495,000 Active 12 DOM
7. 2026-06-08
   days on market $495,000 Active 11 DOM
8. 2026-06-07
   days on market $495,000 Active 10 DOM
9. 2026-06-04
   days on market $495,000 Active 7 DOM
10. 2026-06-03
    days on market $495,000 Active 6 DOM
11. 2026-06-02
    days on market $495,000 Active 5 DOM
12. 2026-06-01
    days on market $495,000 Active 4 DOM
13. 2026-05-31
    days on market $495,000 Active 3 DOM
14. 2026-05-12
    price $535,000 964-char remark
15. 2026-04-22
    listed $565,000 Active 964-char remark
16. 2026-04-22
    historical
17. 2026-04-09
    listed $565,000 Active
18. 2024-12-10
    historical $3,000
19. 2024-11-07
    price $3,000
20. 2024-10-02
    listed $3,200
21. 2020-12-29
    soldstatus
22. 2010-06-01
    soldstatus
23. 2010-03-18
    historical
24. 2009-12-19
    listed $269,900
25. 2008-10-14
    historical
26. 2008-06-20
    listed $294,500

ⓘ 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: $9,008 · $751/mo
• Projected year-2 tax: $9,008 · $751/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) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 25 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: $55,881
• − Mortgage interest: −$26,047
• − Property taxes: −$9,008
• − Insurance: −$2,325
• − Repairs & maintenance: −$4,470
• − Management: −$4,470
• − Depreciation: −$13,527
• Taxable loss: −$3,967
• Est. tax savings @ 24.0%: +$952
• After-tax cash flow: $4,503/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): 47,808
• Household income: $144,911
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 1812.0

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 0.63)
• Race & ethnicity: White 57% Hispanic / Latino 17% Two or more races 13% Asian 11% Black 9%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 3% Romanian 3% Italian 3%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 12% Other Indo-European 4% Chinese 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: ▼ -219.42%
• Current HPI: 159.8157
• Rent YoY: ▼ -0.83%
• 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

+57.9% since first listed

17 events — show timeline

• 2026-06-17 Listed $465,000 HARMLS
• 2026-06-16 Listing Removed — HARMLS
• 2026-05-28 Listing Removed — HARMLS
• 2026-05-28 Listed $495,000 HARMLS
• 2026-05-12 Price Changed $535,000 HARMLS
• 2026-04-22 Listing Removed — HARMLS
• 2026-04-22 Listed $565,000 HARMLS
• 2026-04-09 Listed $565,000 HARMLS
• 2024-12-10 Rental Removed $3,000 HARMLS
• 2024-11-07 Price Changed $3,000 HARMLS
• 2024-10-02 Listed for Rent $3,200 HARMLS
• 2020-12-29 Sold (Public Records) — Public Records
• 2010-06-01 Sold (Public Records) — Public Records
• 2010-03-18 Listing Removed — HARMLS
• 2009-12-19 Listed $269,900 HARMLS
• 2008-10-14 Listing Removed — HARMLS
• 2008-06-20 Listed $294,500 HARMLS

Property tax history

+4.9%/yr

Latest (2025): $9,008 · -0.1% YoY. Source: county tax records.