5617 Kiam St Unit A · Houston, TX 77007

$370,000

3 bd · 3.5 ba · 2,126 sqft · SingleFamily public records · 72 Days on market

Built 2009 1,515 sqft lot Est $495k · 25% under

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Why this score? — see what drove the B- 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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• 1% rule +7.8/10.0
• 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

NEVER FLOODED! Water heater replaced (2025) - Interior freshly repainted (2024) - No HOA- 3 Full bathrooms- 2 Car garage- Split floor plan- Real Hardwood floors throughout the home- Soaring ceilings - Beautiful Granite countertops throughout the entire home - Oversized primary bedroom - Primary Bathroom includes double sinks, soaking tub, and a walk-in shower!

Key facts

• Split floor plan
• Soaring ceilings
• Farm style barn door

Tags

• SPLIT FLOOR PLAN
• REAL WOOD FLOORS
• SOARING CEILINGS
• FLOOR TO CEILING WINDOWS
• GRANITE COUNTERTOPS
• FARM STYLE BARN DOOR

Property features AI

Finance

• Financial info: Lease not considered

Exterior

• Parking: Attached garage; 2 garage spaces; Garage door opener
• Security: Prewired for security; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; Faces west; 3 stories; Full ownership; Entry level details not specified
• Construction: Brick construction; Composition roof; Slab foundation; Built in 2009
• Exterior features: Concrete road surface

Interior

• Kitchen: Convection oven; Gas cooktop; Gas range; Oven; Microwave; Dishwasher; Disposal; Refrigerator; Pantry; Breakfast bar
• Bedrooms: Primary bedroom (Third level); Additional bedrooms listed on Third and First levels
• Flooring: Carpet; Tile; Wood
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (gas); Central air conditioning (electric); Attic fan; Programmable thermostat
• Interior features: Breakfast bar; Crown molding; Double vanity; Granite counters; High ceilings; Kitchen/family room combo; Primary bathroom; Pantry; Soaking tub; Separate shower; Tub/shower combination; Window treatments; Ceiling fans; Living/dining room; Programmable thermostat; Gas fireplace with gas log
• Laundry & utility: Laundry in utility room; Electric dryer hookup; Gas dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $370k.

Deal economics

• At list price, monthly cash flow is $837 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $370k).
• Recommended offer: $348k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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); 646 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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 $11k 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 72 days — a 6% lower offer ($348k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 9y ago; this cycle's ask has dropped $20k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe 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 $347,800 (6.0% below list)

Questions for the listing agent

1. It's been on market 72 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.28% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.47%
• DSCR: 1.47
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $495,358
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1506 Birdsall St	0.50mi	3/3.5	2,124 (-0%)	1mo	$425,000	$200	76
5337 Larkin St	0.36mi	3/2.5	2,157 (+2%)	2mo	$599,000	$278	75
5903 Petty St Unit F	0.37mi	3/2.5	2,164 (+2%)	1mo	$505,000	$233	74
5540 Nolda St	0.35mi	3/2.5	2,000 (-6%)	1mo	$400,000	$200	69
1510 Birdsall St	0.49mi	3/3.5	2,268 (+7%)	1mo	$389,000	$172	65
5311 Kiam St Unit B	0.40mi	3/3.5	2,347 (+10%)	2mo	$469,000	$200	63
5410A Nolda St	0.42mi	3/3.5	2,346 (+10%)	1mo	$669,900	$286	63
5310 Larkin St Unit B	0.42mi	3/3.5	2,354 (+11%)	1mo	$399,000	$169	62
5976 Kansas St	0.48mi	3/4.5	1,978 (-7%)	1mo	$359,000	$181	61
1628 Mcdonald St	0.37mi	3/3.5	2,420 (+14%)	0mo	$575,000	$238	59
2411 Detering St	0.42mi	3/2.5	2,334 (+10%)	2mo	$615,000	$263	59
6605 Letein St	0.57mi	3/2.5	2,344 (+10%)	1mo	$550,000	$235	52

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-20,225
• Equity at exit: $55,168

10-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-1,452
• Equity at exit: $31,991

Cash invested: $103,600 (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 77007

• Rents YoY: -0.8%
• Active inventory: 646
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $4,740 high
• Mortgage (P&I): −$1,940
• Tax from tax record: −$746 /mo · $8,952/yr
• Insurance: −$154
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$995
• Net cashflow: $837

Break-even live

Break-even rent $3,680

Max offer price $370,000

Occupancy floor 77%

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: $92,500
• Closing costs: $11,100
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5620 Petty St Houston, TX	4.0	3.5	2891	$8,750	$3.03	44d	1	0.02mi
5620 Petty St Unit 1019538P Houston, TX	4.0	3.5	2884	$16,259	$5.64	22d	1	0.02mi
5530 Kiam St Unit 1019540P Houston, TX	4.0	2.5	2680	$15,799	$5.90	44d	1	0.09mi
5530 Kiam St Houston, TX	4.0	2.5	2688	$9,750	$3.63	44d	1	0.09mi
5732 Darling St Unit 1056419P Houston, TX	3.0	3.5	2400	$7,771	$3.24	44d	1	0.19mi
2210 Radcliffe St Houston, TX	3.0	3.5	2066	$2,716	$1.31	8d	1	0.21mi
5427 Kansas St Houston, TX	3.0	4.0	2156	$2,700	$1.25	44d	1	0.22mi
2103 Radcliffe St Unit 1225772P Houston, TX	3.0	2.0	1797	$4,729	$2.63	8d	1	0.24mi
543 T C Jester Blvd Unit 1225766P Houston, TX	3.0	3.5	2389	$5,222	$2.19	16d	1	0.27mi
5336 Darling St Unit 1225767P Houston, TX	3.0	3.0	2292	$5,570	$2.43	8d	1	0.34mi
5235 Petty St Unit B Houston, TX	3.0	2.5	2532	$3,000	$1.18	44d	1	0.45mi
5811 Maxie St Houston, TX	3.0	3.5	2226	$3,000	$1.35	44d	1	0.51mi
5108 Larkin St Houston, TX	3.0	3.5	2108	$2,850	$1.35	44d	1	0.61mi
5610 Schuler St Houston, TX	3.0	3.5	2614	$3,111	$1.19	5d	1	0.63mi
920 Westcott St Houston, TX	1.0–2.0	1.0–2.0	1175	$3,306	$2.81	1d	29	0.71mi
3001 W 11th St Houston, TX	3.0	1.0–2.0	1031	$4,533	$4.40	1d	50	0.72mi
929 Westcott St Houston, TX	1.0–3.0	1.0–3.0	1375	$9,263	$6.74	3d	22	0.75mi
5454 Washington Ave Unit 525 Houston, TX	3.0	2.0	1444	$2,694	$1.87	3d	1	0.75mi
5454 Washington Ave Unit 5487 Houston, TX	3.0	2.0	1444	$2,726	$1.89	11d	1	0.75mi
5305 Nett St Unit A Houston, TX	3.0	3.5	2104	$2,950	$1.40	24d	1	0.77mi
4917 Nolda St Houston, TX	3.0	3.5	1764	$5,000	$2.83	24d	1	0.78mi
5237 Center St Houston, TX	3.0	3.0	2284	$2,995	$1.31	44d	1	0.84mi
4510 Inker St Houston, TX	4.0	4.0	2293	$4,500	$1.96	44d	1	1.05mi
4508 Maxie St Unit B Houston, TX	3.0	1.0	1700	$3,003	$1.77	15d	1	1.08mi
4608 Nett St Houston, TX	3.0	4.0	2261	$3,750	$1.66	44d	1	1.10mi
4311 Marina St Houston, TX	3.0	4.0	2328	$3,599	$1.55	44d	1	1.15mi
1723 W 14th St Unit B Houston, TX	3.0	3.5	2373	$3,400	$1.43	21d	1	1.18mi
4444 Center St Houston, TX	3.0	3.0	2121	$3,200	$1.51	44d	1	1.22mi
1126 W 16th St Houston, TX	3.0	4.0	2494	$4,295	$1.72	44d	1	1.29mi
1332 Dorothy St Houston, TX	3.0	3.5	2980	$6,500	$2.18	22d	1	1.30mi
100 Detering St Houston, TX	1.0–3.0	1.0–3.0	1162	$3,486	$3.00	3d	26	1.31mi
1221 Bonner St Houston, TX	3.0	3.5	2252	$3,200	$1.42	44d	1	1.34mi
5359 Memorial Dr Houston, TX	3.0	2.0	1478	$2,562	$1.73	44d	1	1.40mi
525 Yale St Houston, TX	2.0	1.0–2.0	1017	$3,345	$3.29	2d	41	1.42mi
5201 Memorial Dr Houston, TX	1.0–2.0	1.0–2.5	1071	$3,361	$3.14	2d	21	1.43mi
655 Yale St Houston, TX	2.0	1.0–2.0	978	$2,842	$2.91	2d	39	1.44mi
1157 W 18th St Houston, TX	3.0	3.0	2431	$3,500	$1.44	44d	1	1.45mi
1113 W 18th St Unit C Houston, TX	4.0	3.5	2150	$3,249	$1.51	44d	1	1.47mi
5353 Memorial Dr Houston, TX	1.0–3.0	1.0–2.5	1118	$3,095	$2.77	2d	19	1.48mi

Listing history 50 events

1. 2026-05-01
   status Pending
2. 2026-04-21
   status Pending
3. 2026-04-09
   price $370,000
4. 2026-03-13
   price $379,999
5. 2026-02-17
   listed $389,999 Active
6. 2026-02-17
   historical
7. 2026-02-11
   price $389,999
8. 2026-01-20
   listed $399,999 Active
9. 2026-01-11
   historical $2,600
10. 2026-01-11
    historical
11. 2025-12-10
    status Active
12. 2025-12-10
    status Pending
13. 2025-12-01
    status Pending
14. 2025-12-01
    listed $419,999 Active
15. 2025-11-26
    historical
16. 2025-11-01
    price $2,600
17. 2025-10-20
    price $419,999
18. 2025-10-17
    listed $2,650
19. 2025-10-16
    listed $429,999 Active
20. 2025-10-16
    historical
21. 2025-10-16
    historical $2,650
22. 2025-09-19
    price $2,650
23. 2025-07-26
    listed $2,700
24. 2025-07-17
    price $429,999
25. 2025-07-08
    listed $444,000 Active
26. 2025-07-07
    historical
27. 2025-06-16
    price $449,999
28. 2025-06-15
    price $450,000
29. 2025-05-26
    listed $465,000 Active
30. 2024-05-25
    historical $2,700
31. 2024-05-14
    listed $2,700
32. 2024-05-14
    historical $2,750
33. 2024-04-23
    price $2,750
34. 2024-04-09
    listed $2,800
35. 2022-06-07
    soldstatus
36. 2022-05-27
    soldstatus Sold
37. 2022-04-25
    status Pending
38. 2022-04-18
    status Option Pending
39. 2022-04-14
    listed $415,000 Active
40. 2019-03-26
    historical
41. 2019-03-26
    soldstatus
42. 2019-03-25
    soldstatus Sold
43. 2019-03-04
    status Pending
44. 2019-02-21
    status Option Pending
45. 2018-07-12
    listed $354,900 Active
46. 2018-07-12
    historical
47. 2018-04-25
    listed $364,900 Active
48. 2017-09-05
    historical
49. 2017-08-10
    price $365,000
50. 2017-07-10
    listed $369,900 Active

ⓘ 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: $8,952 · $746/mo
• Projected year-2 tax: $8,952 · $746/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 8/10 Severe FEMA zone X (shaded) · 99% 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: $56,877
• − Mortgage interest: −$20,726
• − Property taxes: −$8,952
• − Insurance: −$2,648
• − Repairs & maintenance: −$4,550
• − Management: −$4,550
• − Depreciation: −$10,764
• Taxable income: $4,687
• Est. tax owed @ 24.0%: −$1,125
• After-tax cash flow: $8,924/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

+0.0% since first listed

50 events — show timeline

• 2026-05-01 Pending — HARMLS
• 2026-04-21 Pending — HARMLS
• 2026-04-09 Price Changed $370,000 HARMLS
• 2026-03-13 Price Changed $379,999 HARMLS
• 2026-02-17 Listing Removed — HARMLS
• 2026-02-17 Listed $389,999 HARMLS
• 2026-02-11 Price Changed $389,999 HARMLS
• 2026-01-20 Listed $399,999 HARMLS
• 2026-01-11 Rental Removed $2,600 HARMLS
• 2026-01-11 Listing Removed — HARMLS
• 2025-12-10 Relisted — HARMLS
• 2025-12-10 Pending — HARMLS
• 2025-12-01 Pending — HARMLS
• 2025-12-01 Listed $419,999 HARMLS
• 2025-11-26 Listing Removed — HARMLS
• 2025-11-01 Price Changed $2,600 HARMLS
• 2025-10-20 Price Changed $419,999 HARMLS
• 2025-10-17 Listed for Rent $2,650 HARMLS
• 2025-10-16 Listed $429,999 HARMLS
• 2025-10-16 Listing Removed — HARMLS
• 2025-10-16 Rental Removed $2,650 HARMLS
• 2025-09-19 Price Changed $2,650 HARMLS
• 2025-07-26 Listed for Rent $2,700 HARMLS
• 2025-07-17 Price Changed $429,999 HARMLS
• 2025-07-08 Listed $444,000 HARMLS
• 2025-07-07 Listing Removed — HARMLS
• 2025-06-16 Price Changed $449,999 HARMLS
• 2025-06-15 Price Changed $450,000 HARMLS
• 2025-05-26 Listed $465,000 HARMLS
• 2024-05-25 Rental Removed $2,700 HARMLS
• 2024-05-14 Listed for Rent $2,700 HARMLS
• 2024-05-14 Rental Removed $2,750 HARMLS
• 2024-04-23 Price Changed $2,750 HARMLS
• 2024-04-09 Listed for Rent $2,800 HARMLS
• 2022-06-07 Sold (Public Records) — Public Records
• 2022-05-27 Sold (MLS) — HARMLS
• 2022-04-25 Pending — HARMLS
• 2022-04-18 Pending — HARMLS
• 2022-04-14 Listed $415,000 HARMLS
• 2019-03-26 Listing Removed — HARMLS
• 2019-03-26 Sold (Public Records) — Public Records
• 2019-03-25 Sold (MLS) — HARMLS
• 2019-03-04 Pending — HARMLS
• 2019-02-21 Pending — HARMLS
• 2018-07-12 Listing Removed — HARMLS
• 2018-07-12 Listed $354,900 HARMLS
• 2018-04-25 Listed $364,900 HARMLS
• 2017-09-05 Listing Removed — HARMLS
• 2017-08-10 Price Changed $365,000 HARMLS
• 2017-07-10 Listed $369,900 HARMLS

Property tax history

+10.8%/yr

Latest (2025): $8,952 · +5.2% YoY. Source: county tax records.