1523 Haddon Unit B · Houston, TX 77006

$575,000

3 bd · 3.5 ba · 2,563 sqft · Townhouse public records · 53 Days on market

Built 2002 1,727 sqft lot $224/sqft · 9% below area Est $630k · 9% under $308/mo HOA · 5% 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).

• Cash flow +16.1/30.0
• ARV discount +11.4/15.0
• 1% rule +5.4/10.0
• DSCR +5.0/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover effortless urban living in this light-filled townhome nestled in the heart of Montrose. Bathed in natural light, this inviting residence features beautiful hardwood floors throughout, creating a warm and cohesive feel across every space. The thoughtfully designed layout offers both comfort and functionality, perfect for everyday living and entertaining. Step outside to your own private patio—an ideal retreat for morning coffee, evening unwinding, or hosting friends. Located within a gated community, this home provides both peace of mind and a sense of exclusivity, all while being just moments from Montrose’s vibrant dining, shopping, and cultural hot spots. A rare blend of charm, convenience, and location— with a whole home generator, this townhome is truly a standout.

Key facts

• Gated community
• Natural light
• Private patio

Tags

• PRIVATE PATIO
• GATED COMMUNITY
• NATURAL LIGHT
• HARDWOOD FLOORS

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath townhouse listed at $575k.

Deal economics

• At list price, monthly cash flow is $293 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $575k).
• Recommended offer: $558k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.9% 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 (-1.3%/yr); 266 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $5,989/mo this rent would consume 67% of the median local household income ($107k/yr) (locally 1688% 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 $4k of loan paydown is wiped out by about $17k 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 53 days — a 3% lower offer ($558k) is reasonable based on typical stale-listing flexibility.

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 $557,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
7. 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.
8. 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.
9. 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: 1.04% ✓
• Cap rate: 6.91%
• Cash-on-cash: 2.19%
• DSCR: 1.10
• GRM: 8.0

CMA / ARV

• ARV (median comp): $629,544
• List price: $575,000
• Delta: -8.66%
• 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
1824 Vermont St	0.16mi	3/3.5	2,434 (-5%)	1mo	$499,000	$205	83
1609 Welch St Unit B	0.16mi	3/3.5	2,265 (-12%)	3mo	$450,000	$199	71
1515 Hyde Park Blvd #1	0.36mi	3/3.5	2,382 (-7%)	2mo	$560,000	$235	70
2611 Commonwealth St	0.48mi	3/3.0	2,673 (+4%)	2mo	$525,000	$196	67
2507 Montrose Blvd #36	0.59mi	3/3.5	2,470 (-4%)	0mo	$250,000	$101	66
1213 Dunlavy St	0.34mi	3/3.5	2,295 (-10%)	2mo	$400,000	$174	65
2003 Morse St	0.38mi	3/3.5	2,820 (+10%)	1mo	$599,000	$212	65
615 W Bell St	0.73mi	3/3.5	2,548 (-1%)	2mo	$665,000	$261	63
2001 Vermont St	0.51mi	3/3.5	2,804 (+9%)	1mo	$729,000	$260	60
1215 Marconi St Unit A	0.55mi	3/3.5	2,358 (-8%)	2mo	$585,000	$248	59
717 Welch St	0.64mi	3/3.5	2,719 (+6%)	1mo	$540,000	$199	59
3515 Yupon St	0.74mi	3/3.5	2,302 (-10%)	1mo	$625,000	$272	48

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: -16.6%
• Equity multiple: 0.43×
• Total profit: $-91,667
• Equity at exit: $85,734

10-year hold

• IRR: -15.9%
• Equity multiple: 0.24×
• Total profit: $-122,065
• Equity at exit: $49,715

Cash invested: $161,000 (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 77006

• Rents YoY: -1.3%
• Active inventory: 266
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $5,989 high
• Mortgage (P&I): −$3,015
• Tax from tax record: −$875 /mo · $10,496/yr
• Insurance: −$240
• HOA: −$308
• Vacancy / Maint / Mgmt: −$1,258
• Net cashflow: $293

Break-even live

Break-even rent $5,617

Max offer price $575,000

Occupancy floor 90%

Sensitivity live

Price	-10% $619	-5% $456	+0% $293	+5% $131	+10% $-32
Rent	-10% $-180	-5% $57	+0% $293	+5% $530	+10% $766
Rate	-1.0pp $583	-0.5pp $440	base $293	+0.5pp $144	+1.0pp $-7

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2205 Commonwealth St Houston, TX	4.0	4.0	2513	$3,300	$1.31	44d	1	0.26mi
1951 W Bell St Houston, TX	3.0	2.0	1800	$2,400	$1.33	44d	1	0.31mi
1951 W Bell St Houston, TX	3.0	2.0	1800	$2,400	$1.33	16d	1	0.31mi
1326 Fairview Ave Houston, TX	3.0	3.0	2176	$3,250	$1.49	44d	1	0.36mi
1958 W Gray St Unit 1991 Houston, TX	3.0	2.0	3206	$15,050	$4.69	12d	1	0.45mi
1958 W Gray St Unit 3165 Houston, TX	3.0	2.0	3206	$15,010	$4.68	0d	1	0.45mi
1924 Fairview Ave Houston, TX	3.0	3.5	2830	$9,750	$3.45	44d	1	0.49mi
2323 Woodhead St Unit 1019542P Houston, TX	3.0	3.5	2820	$15,722	$5.58	25d	1	0.50mi
1027 Gross St Houston, TX	4.0	3.5	3035	$5,800	$1.91	44d	1	0.53mi
1211 Marconi St Houston, TX	4.0	3.5	3020	$4,500	$1.49	44d	1	0.55mi
811 Buffalo Park Dr Unit 3187 Houston, TX	3.0	2.0	3632	$15,384	$4.24	0d	1	0.58mi
811 Buffalo Park Dr Unit 510 Houston, TX	3.0	2.0	3632	$15,424	$4.25	12d	1	0.58mi
811 Buffalo Park Dr Unit 844 Houston, TX	3.0	2.0	3632	$14,913	$4.11	15d	1	0.58mi
2024 Welch St Houston, TX	3.0	4.0	2294	$2,800	$1.22	44d	1	0.60mi
1118 Columbus St Unit A Houston, TX	3.0	3.5	2338	$3,000	$1.28	44d	1	0.62mi
3333 Allen Pkwy Unit 1000 Houston, TX	2.0	2.5	1860	$4,500	$2.42	44d	1	0.64mi
1501 Hawthorne St Houston, TX	2.0	1.0	3341	$1,525	$0.46	44d	1	0.65mi
707 Marston St Unit 510 Houston, TX	3.0	2.0	2310	$12,474	$5.40	0d	1	0.68mi
3411 Yoakum Blvd Unit 3165 Houston, TX	3.0	2.0	3110	$12,264	$3.94	0d	1	0.80mi
3411 Yoakum Blvd Unit 510 Houston, TX	3.0	2.0	3110	$12,304	$3.96	12d	1	0.80mi
414 Hyde Park Blvd Houston, TX	3.0	3.5	2300	$5,200	$2.26	0d	1	0.82mi
328 Bomar St Houston, TX	3.0	3.5	2688	$5,300	$1.97	23d	1	0.82mi
710 Stanford St Houston, TX	3.0	4.0	2438	$3,490	$1.43	44d	1	0.84mi
3131 Memorial Ct Houston, TX	2.0	1.0–2.5	1336	$3,346	$2.50	0d	31	1.02mi
4307 Feagan St Unit A Houston, TX	3.0	4.0	2412	$3,590	$1.49	0d	1	1.05mi
420 Hawthorne St Houston, TX	4.0	2.0	2230	$3,373	$1.51	44d	1	1.09mi
4004 Montrose Blvd Unit 43C Houston, TX	2.0	2.5	1908	$3,150	$1.65	25d	1	1.11mi
2311 Westheimer Rd Houston, TX	1.0–3.0	1.0–3.0	1489	$13,163	$8.84	0d	14	1.12mi
5201 Memorial Dr Houston, TX	1.0–2.0	1.0–2.5	1071	$3,361	$3.14	0d	17	1.13mi
10 Oak Ct Unit 33 Houston, TX	2.0	2.0	1882	$2,802	$1.49	17d	1	1.13mi
10 Oak Ct Unit 2174 Houston, TX	2.0	2.0	1882	$2,827	$1.50	15d	1	1.13mi
2025 Colquitt St Unit 1257741P Houston, TX	3.0	3.5	2594	$7,405	$2.85	44d	1	1.23mi
2243 W Alabama St Houston, TX	3.0	3.0	1998	$2,440	$1.22	44d	1	1.25mi
911 Thompson St #911 Houston, TX	4.0	3.5	3200	$8,500	$2.66	25d	1	1.33mi
913 Thompson St #913 Houston, TX	4.0	3.5	3200	$8,500	$2.66	25d	1	1.33mi
917 Thompson St Unit 917 Houston, TX	4.0	3.5	3200	$8,000	$2.50	25d	1	1.34mi
915 Thompson St Unit 915 Houston, TX	4.0	3.5	3200	$8,500	$2.66	25d	1	1.34mi
2651 Kipling St Unit 510 Houston, TX	3.0	2.0	2739	$11,492	$4.20	12d	1	1.42mi
2651 Kipling St Unit 3165 Houston, TX	3.0	2.0	2739	$11,452	$4.18	0d	1	1.42mi
822 Ruthven St Houston, TX	2.0	2.0	1846	$2,400	$1.30	0d	1	1.44mi

HOA detail

• Monthly dues: $308 · $3,696/yr
• Likely covers: security

Listing history 10 events

1. 2026-06-10
   days on market $575,000 Pending 53 DOM
2. 2026-06-08
   days on market $575,000 Pending 52 DOM
3. 2026-06-07
   days on market $575,000 Pending 51 DOM
4. 2026-06-04
   statusdays on market $575,000 Pending 48 DOM
5. 2026-06-01
   days on market $575,000 Active 45 DOM
6. 2026-05-31
   days on market $575,000 Active 44 DOM
7. 2026-04-17
   listed $575,000 Active 806-char remark

   Show marketing remark (806 chars)

   Discover effortless urban living in this light-filled townhome nestled in the heart of Montrose. Bathed in natural light, this inviting residence features beautiful hardwood floors throughout, creating a warm and cohesive feel across every space. The thoughtfully designed layout offers both comfort and functionality, perfect for everyday living and entertaining. Step outside to your own private patio—an ideal retreat for morning coffee, evening unwinding, or hosting friends. Located within a gated community, this home provides both peace of mind and a sense of exclusivity, all while being just moments from Montrose’s vibrant dining, shopping, and cultural hot spots. A rare blend of charm, convenience, and location— with a whole home generator, this townhome is truly a standout.

8. 2018-05-30
   soldstatus
9. 2015-01-20
   soldstatus
10. 2001-01-01
    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: $10,496 · $875/mo
• Projected year-2 tax: $10,522 · $877/mo
• Expected delta: +$26/yr (+$2/mo · 0.3%)

ⓘ 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) · 20% 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: $71,863
• − Mortgage interest: −$32,209
• − Property taxes: −$10,496
• − Insurance: −$2,875
• − Repairs & maintenance: −$5,749
• − Management: −$5,749
• − HOA: −$3,696
• − Depreciation: −$16,727
• Taxable loss: −$5,639
• Est. tax savings @ 24.0%: +$1,353
• After-tax cash flow: $4,873/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): 24,892
• Household income: $106,533
• Rent vs Own: 65.4% rent · 34.6% own
• Severe rent burden: 1688.0

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 0.59)
• Race & ethnicity: White 61% Hispanic / Latino 16% Two or more races 12% Asian 9% Black 8%
• Hispanic origin (detail): Mexican 9% Puerto Rican 1%
• Common ancestry: Romanian 4% Slovak 4% Lithuanian 3%
• Foreign-born: 16% · Canada, China, Jamaica
• Languages at home: 77% English-only · Spanish 12% Other Indo-European 3% 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: ▼ -273.34%
• Current HPI: 204.0321
• Rent YoY: ▼ -1.29%
• 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

4 events — show timeline

• 2026-04-17 Listed $575,000 HARMLS
• 2018-05-30 Sold (Public Records) — Public Records
• 2015-01-20 Sold (Public Records) — Public Records
• 2001-01-01 Sold (Public Records) — Public Records

Property tax history

-0.8%/yr

Latest (2025): $10,496 · -5.8% YoY. Source: county tax records.