10811 Richmond Ave #72 · Houston, TX 77042

$102,500

1 bd · 1.0 ba · 822 sqft · Condo public records · 11 Days on market

Built 1983 $125/sqft · 15% below area Est $120k · 15% under $261/mo HOA · 22% of rent

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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).

• ARV discount +14.1/15.0
• Cash flow +8.8/30.0
• 1% rule +6.5/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Schools +2.1/10.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

REDUCED AND PRICED TO SELL COME SEE THIS FANTASTIC UNIT!!!!! Don’t miss this wonderful opportunity in the Westchase District. This spacious 1-bedroom, 1-bathroom unit, offers a large living space and features two oversized closets, a relaxing garden tub, and your own private garage. Located on the second floor, enjoy your private balcony with a beautiful view. Situated in a gated community with two swimming pools and 24/7 surveillance throughout the property, this condo offers comfort, convenience, and peace of mind. Investors welcome, First-time homebuyers welcome, Low HOA with excellent coverage Property is professionally maintained. Minutes from beltway 8, and Westpark!! Don’

Key facts

• Gated community
• Two swimming pools
• Private balcony

Tags

• PRIVATE BALCONY
• GATED COMMUNITY
• TWO SWIMMING POOLS
• 24/7 SURVEILLANCE
• TWO OVERSIZED CLOSETS
• GARDEN TUB

Property features AI

Finance

• Other: Living area reported as 822; Lot recorded in square feet (109,092)
• HOA & community: HOA (Rise) with $261 monthly fee covering cable TV, grounds maintenance, sewer and water

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property; Single-story; Fronting composition roof
• Construction: Built in 1983; Stone construction; Slab foundation
• Exterior features: Community pool

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: One fireplace; Total of 1 room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $102k.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $87k (14.7% below list).
• Meets the 1% rule at list price ($1k rent vs $102k).
• Recommended offer: $87k (14.7% below list) — sets the bar for cash-flow.
• Cap rate 5.3% 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.
• Alief ISD (urban): math 23% / reading 28% proficiency, ranked #717 of 826 in TX (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Outley El (math 26% / reading 36%, grade F, #2,429 of 4,322 statewide, top 57%, 829 students, 84% FRL); O'Donnell Middle (math 32% / reading 33%, grade F, #947 of 1,662 statewide, top 58%, 1,230 students, 89% FRL); Alief Isd J J A E P (13 students, 77% FRL).
• Market conditions: Rents soft (-2.3%/yr); 249 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $709 of loan paydown is wiped out by about $3k 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 24y 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

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: 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 $87,468 (14.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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. 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?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 5.30%
• Cash-on-cash: -3.56%
• DSCR: 0.84
• GRM: 7.2

CMA / ARV

• ARV (median comp): $120,248
• List price: $102,500
• Delta: -8.52%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -27.2%
• Equity multiple: 0.12×
• Total profit: $-25,289
• Equity at exit: $15,283

10-year hold

• IRR: -53.6%
• Equity multiple: -0.45×
• Total profit: $-41,555
• Equity at exit: $8,862

Cash invested: $28,700 (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 77042

• Rents YoY: -2.3%
• Active inventory: 249
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,184 high
• Mortgage (P&I): −$538
• Tax from tax record: −$179 /mo · $2,148/yr
• Insurance: −$43
• HOA: −$261
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $-85

Break-even live

Break-even rent $1,291

Max offer price $87,468

Occupancy floor —

Sensitivity live

Price	-10% $-27	-5% $-56	+0% $-85	+5% $-114	+10% $-143
Rent	-10% $-179	-5% $-132	+0% $-85	+5% $-38	+10% $8
Rate	-1.0pp $-33	-0.5pp $-59	base $-85	+0.5pp $-112	+1.0pp $-139

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: $25,625
• Closing costs: $3,075
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10777 Richmond Ave Houston, TX	1.0	1.0	625	$1,260	$2.02	14d	1	0.10mi
10777 Richmond Ave Houston, TX	1.0–2.0	1.0–2.0	975	$1,249	$1.28	0d	20	0.10mi
10777 Richmond Ave Unit 10814 Houston, TX	2.0	2.0	1117	$1,672	$1.50	14d	1	0.12mi
10777 Richmond Ave Unit 10798 Houston, TX	1.0	1.0	625	$1,311	$2.10	14d	1	0.12mi
10777 Richmond Ave Unit 10798 Houston, TX	1.0	1.0	625	$1,306	$2.09	14d	1	0.12mi
10777 Richmond Ave Unit 2174 Houston, TX	2.0	2.0	1117	$1,621	$1.45	14d	1	0.12mi
3411 Walnut Bend Ln Houston, TX	1.0–3.0	1.0–2.0	962	$965	$1.00	1d	13	0.13mi
10881 Richmond Ave Unit 1004 Houston, TX	2.0	2.0	885	$1,170	$1.32	26d	1	0.20mi
10881 Richmond Ave Unit 212 Houston, TX	1.0	1.0	570	$935	$1.64	45d	1	0.20mi
10881 Richmond Ave Unit 1209 Houston, TX	2.0	2.0	885	$1,130	$1.28	26d	1	0.20mi
10881 Richmond Ave Unit 702 Houston, TX	2.0	1.0	804	$1,080	$1.34	26d	1	0.20mi
10881 Richmond Ave Unit 206 Houston, TX	1.0	1.0	570	$900	$1.58	45d	1	0.20mi
3035 Walnut Bend Ln Houston, TX	2.0	2.0	1075	$1,100	$1.02	20d	1	0.22mi
10887 Richmond Ave Houston, TX	2.0	2.0	885	$1,125	$1.27	45d	1	0.22mi
10887 Richmond Ave Houston, TX	1.0	1.0	570	$917	$1.61	26d	1	0.22mi
10887 Richmond Ave Houston, TX	2.0	2.0	885	$1,125	$1.27	24d	1	0.22mi
10751 Meadowglen Ln Houston, TX	2.0	1.0–2.0	763	$1,229	$1.61	0d	19	0.24mi
3354 Rogerdale Rd Houston, TX	1.0	1.0	798	$1,260	$1.58	17d	1	0.31mi
3354 Rogerdale Rd Unit 2165 Houston, TX	2.0	2.0	1124	$1,524	$1.36	1d	1	0.31mi
3354 Rogerdale Rd Unit 3405 Houston, TX	1.0	1.0	692	$1,029	$1.49	12d	1	0.31mi
3354 Rogerdale Rd Unit 3375 Houston, TX	1.0	1.0	798	$1,295	$1.62	14d	1	0.31mi
3354 Rogerdale Rd Unit 325 Houston, TX	1.0	1.0	692	$979	$1.41	1d	1	0.31mi
3354 Rogerdale Rd Apt 321 Houston, TX	1.0	1.0	692	$990	$1.43	9d	1	0.31mi
3354 Rogerdale Rd Unit 2148 Houston, TX	2.0	2.0	1124	$1,565	$1.39	1d	1	0.31mi
3354 Rogerdale Rd Unit 422 Houston, TX	2.0	2.0	1124	$1,540	$1.37	9d	1	0.31mi
3354 Rogerdale Rd Unit 3411 Houston, TX	2.0	2.0	1016	$1,490	$1.47	45d	1	0.31mi
3354 Rogerdale Rd Unit 3391 Houston, TX	2.0	2.0	1124	$1,564	$1.39	12d	1	0.31mi
10615 Meadowglen Ln Unit 2162 Houston, TX	2.0	2.0	897	$1,140	$1.27	7d	1	0.31mi
10615 Meadowglen Ln Unit 10672 Houston, TX	2.0	2.0	897	$1,124	$1.25	1d	1	0.31mi
10615 Meadowglen Ln Unit 422 Houston, TX	2.0	2.0	897	$1,140	$1.27	9d	1	0.31mi
10851 Meadowglen Ln Houston, TX	2.0	2.0	1080	$1,835	$1.70	14d	1	0.33mi
10621 Meadowglen Ln Houston, TX	2.0	2.0	897	$1,075	$1.20	45d	1	0.37mi
10621 Meadowglen Ln Houston, TX	1.0	1.0	800	$925	$1.16	26d	1	0.37mi
10621 Meadowglen Ln Houston, TX	2.0	2.0	897	$1,075	$1.20	24d	1	0.37mi
10901 Meadowglen Ln Unit 202A Houston, TX	1.0	1.0	767	$850	$1.11	17d	1	0.38mi
10901 Meadowglen Ln Unit 335B Houston, TX	2.0	2.0	976	$1,180	$1.21	17d	1	0.38mi
10901 Meadowglen Ln Unit 163A Houston, TX	1.0	1.0	531	$749	$1.41	17d	1	0.38mi
10901 Meadowglen Ln Unit 236A Houston, TX	1.0	1.0	661	$874	$1.32	26d	1	0.38mi
10901 Meadowglen Ln Unit 229 Houston, TX	1.0	1.5	661	$825	$1.25	24d	1	0.38mi
10901 Meadowglen Ln Apt 311 Houston, TX	1.0	1.0	531	$649	$1.22	1d	1	0.38mi

HOA detail condo

• Monthly dues: $261 · $3,132/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-21
   days on market $102,500 Active 11 DOM
2. 2026-06-18
   days on market $102,500 Active 8 DOM
3. 2026-06-17
   days on market $102,500 Active 7 DOM
4. 2026-06-16
   days on market $102,500 Active 6 DOM
5. 2026-06-15
   days on market $102,500 Active 5 DOM
6. 2026-06-13
   days on marketlisting id $102,500 Active 3 DOM
7. 2026-06-09
   days on market $102,500 Active 66 DOM
8. 2026-06-08
   days on market $102,500 Active 65 DOM
9. 2026-06-07
   days on market $102,500 Active 64 DOM
10. 2026-06-04
    days on market $102,500 Active 61 DOM
11. 2026-06-03
    days on market $102,500 Active 60 DOM
12. 2026-06-02
    days on market $102,500 Active 59 DOM
13. 2026-06-02
    remarks 687-char remark
14. 2026-06-02
    price $102,500 Active 58 DOM
15. 2026-06-01
    days on market $110,000 Active 58 DOM
16. 2026-05-31
    days on market $110,000 Active 57 DOM
17. 2026-04-04
    listed $110,000 Active 703-char remark
18. 2026-04-04
    historical
19. 2026-03-13
    price $110,000
20. 2026-02-16
    price $115,000
21. 2026-01-17
    listed $120,000 Active
22. 2003-07-09
    soldstatus
23. 2003-03-31
    historical
24. 2003-02-20
    listed $67,100
25. 2003-02-11
    historical
26. 2003-01-03
    listed $67,100
27. 2002-12-31
    historical
28. 2002-07-17
    listed $67,100
29. 2000-08-16
    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: $2,148 · $179/mo
• Projected year-2 tax: $2,148 · $179/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 (unshaded) · 22% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,205
• − Mortgage interest: −$5,742
• − Property taxes: −$2,148
• − Insurance: −$512
• − Repairs & maintenance: −$1,136
• − Management: −$1,136
• − HOA: −$3,132
• − Depreciation: −$2,982
• Taxable loss: −$2,584
• Est. tax savings @ 24.0%: +$620
• After-tax cash flow: $-401/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: Alief ISD
• NCES district ID: 4807830
• Math proficiency: 23% ▼ -19.00%
• Reading proficiency: 28% ▼ -8.00%
• Median HH income: $37,775
• Composite: 21.29/100
• National rank: #8391
• State rank: #717 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): 38,721
• Household income: $59,097
• Rent vs Own: 73.7% rent · 26.3% own
• Severe rent burden: 3994.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 36% White 31% Black 24% Two or more races 18% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 14% Cuban 4%
• Common ancestry: Romanian 1% Serbian 1% Italian 1%
• Foreign-born: 35% · Canada, Jamaica, China
• Languages at home: 55% English-only · Spanish 31% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -234.36%
• Current HPI: 215.9671
• Rent YoY: ▼ -2.30%
• 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

+52.8% since first listed

16 events — show timeline

• 2026-06-10 Listing Removed — HARMLS
• 2026-06-10 Listed $102,500 HARMLS
• 2026-06-01 Price Changed $102,500 HARMLS
• 2026-04-04 Listing Removed — HARMLS
• 2026-04-04 Listed $110,000 HARMLS
• 2026-03-13 Price Changed $110,000 HARMLS
• 2026-02-16 Price Changed $115,000 HARMLS
• 2026-01-17 Listed $120,000 HARMLS
• 2003-07-09 Sold (Public Records) — Public Records
• 2003-03-31 Listing Removed — HARMLS
• 2003-02-20 Listed $67,100 HARMLS
• 2003-02-11 Listing Removed — HARMLS
• 2003-01-03 Listed $67,100 HARMLS
• 2002-12-31 Listing Removed — HARMLS
• 2002-07-17 Listed $67,100 HARMLS
• 2000-08-16 Sold (Public Records) — Public Records

Property tax history

+0.7%/yr

Latest (2025): $2,148 · -9.9% YoY. Source: county tax records.