5665 Larkin St · Houston, TX 77007

$409,900

3 bd · 2.5 ba · 2,161 sqft · SingleFamily public records · 18 Days on market

Built 2003 2,319 sqft lot Est $432k · 5% under

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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 +20.3/30.0
• ARV discount +9.8/15.0
• DSCR +6.5/10.0
• 1% rule +6.1/10.0
• 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 MLS

Lovely two story free standing home. Two bedrooms down, master bedroom upstairs. Per seller property is located in flood zone. Sold 'as is'. Contact any realtor of your choice for a private showing. MULTIPLE OFFERS RECV'D. SUBMIT HIGHEST AND BEST OFFER BY 5PM 12/7/09.**

Key facts

• 2nd floor living
• Breakfast room
• Stainless appliances

Tags

• HOME OFFICE
• 2ND FLOOR LIVING
• GRANITE COUNTERS
• STAINLESS APPLIANCES
• BREAKFAST ROOM
• HIGH CEILINGS

Property features AI

Finance

• Financial info: Lease not considered

Exterior

• Parking: Attached garage with garage door opener (2 car spaces)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Residential property; Full ownership; Built in 2003; Slab foundation; Composition roof
• Construction: Brick construction
• Exterior features: Deck; Patio; Paved driveway; Located in a subdivision

Interior

• Kitchen: Gas oven and gas range; Microwave; Dishwasher; Disposal; Refrigerator
• Bedrooms: Primary bedroom (Second level) — 18x12; Bedroom (First level) — 14x12; Bedroom (First level) — 14x12; Office (First level) — 11x8
• Flooring: Carpet; Tile; Wood
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (gas); Central air (electric)
• Interior features: Gas log fireplace (1); Breakfast bar; Double vanity; Entrance foyer; High ceilings; Primary bathroom with soaking tub and separate shower; Window coverings; Ceiling fan(s)
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $410k.

Deal economics

• At list price, monthly cash flow is $528 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $410k).
• Recommended offer: $404k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.8% 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: 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; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 38% 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 $12k 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 18 days — a 2% lower offer ($404k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y 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: 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 $403,751 (1.5% below list)

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. 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.
5. 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.
6. 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: 1.11% ✓
• Cap rate: 7.84%
• Cash-on-cash: 5.53%
• DSCR: 1.25
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $432,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5903 Petty St Unit F	0.33mi	3/2.5	2,164 (+0%)	2mo	$505,000	$233	83
5540 Nolda St	0.26mi	3/2.5	2,000 (-8%)	1mo	$400,000	$200	75
1506 Birdsall St	0.40mi	3/3.5	2,124 (-2%)	1mo	$425,000	$200	74
1510 Birdsall St	0.39mi	3/3.5	2,268 (+5%)	1mo	$389,000	$172	69
1628 Mcdonald St	0.21mi	3/3.5	2,420 (+12%)	0mo	$575,000	$238	66
5734 Petty St	0.18mi	3/3.5	2,448 (+13%)	2mo	$545,000	$223	64
5410A Nolda St	0.36mi	3/3.5	2,346 (+9%)	1mo	$669,900	$286	64
5310 Larkin St Unit B	0.46mi	3/3.5	2,354 (+9%)	1mo	$399,000	$169	59
5307 Nett St Unit C	0.68mi	3/3.5	2,104 (-3%)	1mo	$399,900	$190	59
6605 Letein St	0.61mi	3/2.5	2,344 (+8%)	1mo	$550,000	$235	57
5976 Kansas St	0.47mi	3/4.5	1,978 (-8%)	1mo	$359,000	$181	55
5336 Petty St Unit C	0.41mi	3/3.5	2,467 (+14%)	1mo	$449,000	$182	53

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: -11.4%
• Equity multiple: 0.60×
• Total profit: $-45,922
• Equity at exit: $61,117

10-year hold

• IRR: -7.7%
• Equity multiple: 0.59×
• Total profit: $-47,458
• Equity at exit: $35,441

Cash invested: $114,772 (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 77007

• Rents YoY: -0.8%
• Active inventory: 651
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $4,565 high
• Mortgage (P&I): −$2,150
• Tax from tax record: −$757 /mo · $9,090/yr
• Insurance: −$171
• HOA: −$0
• Vacancy / Maint / Mgmt: −$959
• Net cashflow: $528

Break-even live

Break-even rent $3,896

Max offer price $409,900

Occupancy floor 83%

Sensitivity live

Price	-10% $760	-5% $644	+0% $528	+5% $412	+10% $296
Rent	-10% $168	-5% $348	+0% $528	+5% $709	+10% $889
Rate	-1.0pp $735	-0.5pp $633	base $528	+0.5pp $422	+1.0pp $314

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: $102,475
• Closing costs: $12,297
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5620 Petty St Unit 1019538P Houston, TX	4.0	3.5	2884	$16,259	$5.64	23d	1	0.13mi
5620 Petty St Houston, TX	4.0	3.5	2891	$8,750	$3.03	45d	1	0.13mi
5732 Darling St Unit 1056419P Houston, TX	3.0	3.5	2400	$7,771	$3.24	45d	1	0.13mi
5530 Kiam St Unit 1019540P Houston, TX	4.0	2.5	2680	$15,799	$5.90	45d	1	0.22mi
5530 Kiam St Houston, TX	4.0	2.5	2688	$9,750	$3.63	45d	1	0.22mi
2103 Radcliffe St Unit 1225772P Houston, TX	3.0	2.0	1797	$4,729	$2.63	9d	1	0.23mi
2210 Radcliffe St Houston, TX	3.0	3.5	2066	$2,716	$1.31	9d	1	0.25mi
5427 Kansas St Houston, TX	3.0	4.0	2156	$2,700	$1.25	45d	1	0.33mi
543 T C Jester Blvd Unit 1225766P Houston, TX	3.0	3.5	2389	$5,557	$2.33	0d	1	0.38mi
5811 Maxie St Houston, TX	3.0	3.5	2226	$3,000	$1.35	45d	1	0.40mi
5336 Darling St Unit 1225767P Houston, TX	3.0	3.0	2292	$5,997	$2.62	0d	1	0.40mi
5235 Petty St Unit B Houston, TX	3.0	2.5	2532	$3,000	$1.18	45d	1	0.52mi
5610 Schuler St Houston, TX	3.0	3.5	2614	$3,111	$1.19	6d	1	0.54mi
920 Westcott St Houston, TX	1.0–2.0	1.0–2.0	1175	$3,306	$2.81	0d	28	0.59mi
929 Westcott St Houston, TX	1.0–3.0	1.0–3.0	1375	$9,263	$6.74	0d	21	0.61mi
5108 Larkin St Houston, TX	3.0	3.5	2108	$2,850	$1.35	45d	1	0.66mi
5454 Washington Ave Unit 525 Houston, TX	3.0	2.0	1444	$2,686	$1.86	0d	1	0.67mi
5454 Washington Ave Unit 5487 Houston, TX	3.0	2.0	1444	$2,726	$1.89	12d	1	0.67mi
5305 Nett St Unit A Houston, TX	3.0	3.5	2104	$2,950	$1.40	25d	1	0.70mi
5237 Center St Houston, TX	3.0	3.0	2284	$2,995	$1.31	45d	1	0.77mi
3001 W 11th St Houston, TX	3.0	1.0–2.0	1031	$4,533	$4.40	0d	50	0.78mi
4917 Nolda St Houston, TX	3.0	3.5	1764	$5,000	$2.83	25d	1	0.79mi
4510 Inker St Houston, TX	4.0	4.0	2293	$4,500	$1.96	45d	1	1.07mi
4608 Nett St Houston, TX	3.0	4.0	2261	$3,750	$1.66	45d	1	1.08mi
4508 Maxie St Unit B Houston, TX	3.0	1.0	1700	$3,003	$1.77	16d	1	1.09mi
4311 Marina St Houston, TX	3.0	4.0	2328	$3,599	$1.55	45d	1	1.17mi
4444 Center St Houston, TX	3.0	3.0	2121	$3,200	$1.51	45d	1	1.21mi
1306 Dian St Houston, TX	4.0	2.5	2151	$3,250	$1.51	0d	1	1.23mi
5359 Memorial Dr Houston, TX	3.0	2.0	1478	$2,562	$1.73	45d	1	1.29mi
5201 Memorial Dr Houston, TX	1.0–2.0	1.0–2.5	1071	$3,361	$3.14	0d	16	1.33mi
1723 W 14th St Unit B Houston, TX	3.0	3.5	2373	$3,400	$1.43	22d	1	1.33mi
1221 Bonner St Houston, TX	3.0	3.5	2252	$3,200	$1.42	45d	1	1.34mi
5353 Memorial Dr Houston, TX	1.0–3.0	1.0–2.5	1118	$3,095	$2.77	3d	19	1.38mi
1126 W 16th St Houston, TX	3.0	4.0	2494	$4,295	$1.72	45d	1	1.43mi
1332 Dorothy St Houston, TX	3.0	3.5	2980	$6,500	$2.18	23d	1	1.45mi
525 Yale St Houston, TX	2.0	1.0–2.0	1017	$3,295	$3.24	0d	41	1.49mi

Listing history 11 events

1. 2026-06-21
   days on market $409,900 Active 18 DOM
2. 2026-06-18
   days on market $409,900 Active 15 DOM
3. 2026-06-17
   days on market $409,900 Active 14 DOM
4. 2026-06-16
   days on market $409,900 Active 13 DOM
5. 2026-06-15
   days on market $409,900 Active 12 DOM
6. 2026-06-13
   days on market $409,900 Active 10 DOM
7. 2026-06-09
   days on market $409,900 Active 6 DOM
8. 2026-06-08
   days on market $409,900 Active 5 DOM
9. 2026-06-07
   days on market $409,900 Active 4 DOM
10. 2026-06-04
    remarks 699-char remark
11. 2026-06-04
    listed $409,900 Active 1 DOM

ⓘ 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: $9,090 · $757/mo
• Projected year-2 tax: $9,090 · $757/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 4/10 Moderate FEMA zone X (shaded) · 24% 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $54,779
• − Mortgage interest: −$22,961
• − Property taxes: −$9,090
• − Insurance: −$2,050
• − Repairs & maintenance: −$4,382
• − Management: −$4,382
• − Depreciation: −$11,924
• Taxable loss: −$10
• Est. tax savings @ 24.0%: +$2
• After-tax cash flow: $6,344/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

+95.2% since first listed

4 events — show timeline

• 2026-06-03 Listed $409,900 HARMLS
• 2010-01-28 Sold (MLS) — HARMLS
• 2009-12-10 Listing Removed — HARMLS
• 2009-11-10 Listed $210,000 HARMLS

Property tax history

+2.1%/yr

Latest (2025): $9,090 · +11.2% YoY. Source: county tax records.