5637 Kiam St Unit D · Houston, TX 77007

$449,900

3 bd · 3.5 ba · 2,356 sqft · SingleFamily public records · 33 Days on market

Built 2015 1,890 sqft lot $191/sqft · 11% below area Est $505k · 11% 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 +19.9/30.0
• ARV discount +12.4/15.0
• 1% rule +6.3/10.0
• DSCR +6.3/10.0
• 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

Beautifully designed freestanding townhome offers comfort, privacy, and modern style. Featuring 3 bedrooms and 3.5 bathrooms, the home is thoughtfully laid out with each bedroom offering its own ensuite bath. A spacious covered entry welcomes you inside, where wood flooring flows through the main living areas. The open-concept kitchen is both stylish and functional, complete with a center island and a large walk-in pantry, making it perfect for everyday living and entertaining. Step outside to enjoy a private balcony, an inviting spot for morning coffee or evening relaxation. The primary suite is located on the third floor, providing an added layer of privacy and a peaceful retreat. A first

Key facts

• 1,890 sq ft lot
• 2 garage spots
• Built 2015

Property features AI

Exterior

• Parking: Attached garage; 2 garage spaces
• Security: Prewired for security; Owned security system; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; Faces west; Built in 2015; Full ownership; Slab foundation
• Construction: Cement siding; Stucco construction; Composition roof; Slab foundation; Built in 2015
• Exterior features: Subdivision lot; Prewired for security; Owned security system; Smoke detectors; Composition roof

Interior

• Kitchen: Dishwasher; Disposal; Gas oven; Gas range; Microwave; Refrigerator; Wine refrigerator
• Bedrooms: Primary bedroom on third level (16 x 16); Bedroom on first level (18 x 10); Bedroom on third level (10 x 12)
• Flooring: Carpet; Tile; Wood
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Breakfast bar; Crown molding; Double vanity; Granite counters; High ceilings; Kitchen island; Kitchen/family room combo; Primary bedroom with private bath; Self-closing drawers; Soaking tub; Separate shower; Tub/shower; Walk-in pantry; Window treatments; Programmable thermostat; Washer hookup
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $450k.

Deal economics

• At list price, monthly cash flow is $541 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $450k).
• Recommended offer: $436k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.1% 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; 37 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 42% 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 $13k 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 33 days — a 3% lower offer ($436k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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: property tax is 2.5% of price.
• 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 $436,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 7.74%
• Cash-on-cash: 5.16%
• DSCR: 1.23
• GRM: 7.4

CMA / ARV

• ARV (median comp): $504,861
• List price: $449,900
• Delta: -10.89%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1628 Mcdonald St	0.35mi	3/3.5	2,420 (+3%)	0mo	$575,000	$238	78
5410A Nolda St	0.45mi	3/3.5	2,346 (-0%)	1mo	$669,900	$286	78
5310 Larkin St Unit B	0.46mi	3/3.5	2,354 (-0%)	1mo	$399,000	$169	78
5336 Petty St Unit C	0.37mi	3/3.5	2,467 (+5%)	1mo	$449,000	$182	74
5719 Darling St	0.14mi	4/3.0 (+1)	2,537 (+8%)	1mo	$490,000	$193	73
1510 Birdsall St	0.51mi	3/3.5	2,268 (-4%)	1mo	$389,000	$172	70
6605 Letein St	0.53mi	3/2.5	2,344 (-0%)	1mo	$550,000	$235	70
2709 Arabelle Grv	0.18mi	4/3.5 (+1)	2,630 (+12%)	0mo	$625,000	$238	67
5908 Kansas St Unit A	0.35mi	3/2.5	2,576 (+9%)	1mo	$639,900	$248	64
1506 Birdsall St	0.52mi	3/3.5	2,124 (-10%)	1mo	$425,000	$200	59
1520 Malone St	0.53mi	3/4.0	2,557 (+8%)	1mo	$539,000	$211	58
5602 Schuler St	0.65mi	3/3.5	2,677 (+14%)	1mo	$495,000	$185	46

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: -12.0%
• Equity multiple: 0.58×
• Total profit: $-53,060
• Equity at exit: $67,082

10-year hold

• IRR: -8.7%
• Equity multiple: 0.54×
• Total profit: $-58,297
• Equity at exit: $38,899

Cash invested: $125,972 (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: 7.4×

Monthly cashflow live

• Estimated rent: $5,098 high
• Mortgage (P&I): −$2,359
• Tax from tax record: −$939 /mo · $11,271/yr
• Insurance: −$187
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,071
• Net cashflow: $541

Break-even live

Break-even rent $4,413

Max offer price $449,900

Occupancy floor 84%

Sensitivity live

Price	-10% $796	-5% $669	+0% $541	+5% $414	+10% $287
Rent	-10% $139	-5% $340	+0% $541	+5% $743	+10% $944
Rate	-1.0pp $768	-0.5pp $656	base $541	+0.5pp $425	+1.0pp $306

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: $112,475
• Closing costs: $13,497
• Reserves months: —
• Total cash needed: —

Rent comps 37 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	22d	1	0.06mi
5620 Petty St Houston, TX	4.0	3.5	2891	$8,750	$3.03	44d	1	0.06mi
5732 Darling St Unit 1056419P Houston, TX	3.0	3.5	2400	$7,771	$3.24	44d	1	0.14mi
5530 Kiam St Unit 1019540P Houston, TX	4.0	2.5	2680	$15,799	$5.90	44d	1	0.14mi
5530 Kiam St Houston, TX	4.0	2.5	2688	$9,750	$3.63	44d	1	0.14mi
2210 Radcliffe St Houston, TX	3.0	3.5	2066	$2,716	$1.31	8d	1	0.26mi
2103 Radcliffe St Unit 1225772P Houston, TX	3.0	2.0	1797	$4,729	$2.63	8d	1	0.28mi
5427 Kansas St Houston, TX	3.0	4.0	2156	$2,700	$1.25	44d	1	0.28mi
543 T C Jester Blvd Unit 1225766P Houston, TX	3.0	3.5	2389	$5,557	$2.33	0d	1	0.33mi
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	44d	1	0.51mi
5811 Maxie St Houston, TX	3.0	3.5	2226	$3,000	$1.35	44d	1	0.53mi
5610 Schuler St Houston, TX	3.0	3.5	2614	$3,111	$1.19	6d	1	0.65mi
5108 Larkin St Houston, TX	3.0	3.5	2108	$2,850	$1.35	45d	1	0.67mi
3001 W 11th St Houston, TX	3.0	1.0–2.0	1031	$4,533	$4.40	0d	50	0.68mi
920 Westcott St Houston, TX	1.0–2.0	1.0–2.0	1175	$3,306	$2.81	0d	25	0.72mi
929 Westcott St Houston, TX	1.0–3.0	1.0–3.0	1375	$9,263	$6.74	0d	21	0.75mi
5305 Nett St Unit A Houston, TX	3.0	3.5	2104	$2,950	$1.40	25d	1	0.81mi
4917 Nolda St Houston, TX	3.0	3.5	1764	$5,000	$2.83	25d	1	0.84mi
5237 Center St Houston, TX	3.0	3.0	2284	$2,995	$1.31	44d	1	0.88mi
4510 Inker St Houston, TX	4.0	4.0	2293	$4,500	$1.96	44d	1	1.10mi
1306 Dian St Houston, TX	4.0	2.5	2151	$3,250	$1.51	0d	1	1.12mi
4508 Maxie St Unit B Houston, TX	3.0	1.0	1700	$3,003	$1.77	15d	1	1.14mi
4608 Nett St Houston, TX	3.0	4.0	2261	$3,750	$1.66	44d	1	1.15mi
4311 Marina St Houston, TX	3.0	4.0	2328	$3,599	$1.55	44d	1	1.21mi
1723 W 14th St Unit B Houston, TX	3.0	3.5	2373	$3,400	$1.43	21d	1	1.21mi
4444 Center St Houston, TX	3.0	3.0	2121	$3,200	$1.51	44d	1	1.27mi
1126 W 16th St Houston, TX	3.0	4.0	2494	$4,295	$1.72	44d	1	1.30mi
1332 Dorothy St Houston, TX	3.0	3.5	2980	$6,500	$2.18	22d	1	1.34mi
1221 Bonner St Houston, TX	3.0	3.5	2252	$3,200	$1.42	44d	1	1.39mi
915 Thompson St Unit 915 Houston, TX	4.0	3.5	3200	$8,500	$2.66	25d	1	1.40mi
917 Thompson St Unit 917 Houston, TX	4.0	3.5	3200	$8,000	$2.50	25d	1	1.41mi
913 Thompson St #913 Houston, TX	4.0	3.5	3200	$8,500	$2.66	25d	1	1.41mi
911 Thompson St #911 Houston, TX	4.0	3.5	3200	$8,500	$2.66	25d	1	1.41mi
5201 Memorial Dr Houston, TX	1.0–2.0	1.0–2.5	1071	$3,361	$3.14	0d	17	1.45mi
1157 W 18th St Houston, TX	3.0	3.0	2431	$3,500	$1.44	44d	1	1.46mi
1113 W 18th St Unit C Houston, TX	4.0	3.5	2150	$3,249	$1.51	44d	1	1.48mi

Listing history 15 events

1. 2026-06-04
   days on market $449,900 Pending 33 DOM
2. 2026-06-01
   days on market $449,900 Pending 32 DOM
3. 2026-05-31
   days on market $449,900 Pending 31 DOM
4. 2026-04-30
   historical
5. 2026-04-30
   listed $449,900 Active 953-char remark
6. 2026-02-23
   price $455,000
7. 2026-02-06
   listed $475,000 Active
8. 2025-11-23
   historical
9. 2025-10-23
   price $490,000
10. 2025-10-04
    listed $510,000 Active
11. 2015-09-18
    soldstatus Sold
12. 2015-09-02
    status Pending
13. 2015-08-27
    historical
14. 2015-08-27
    listed $399,000 Active
15. 2014-10-17
    listed $429,000 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: $11,271 · $939/mo
• Projected year-2 tax: $11,271 · $939/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) · 72% 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: $61,174
• − Mortgage interest: −$25,201
• − Property taxes: −$11,271
• − Insurance: −$2,250
• − Repairs & maintenance: −$4,894
• − Management: −$4,894
• − Depreciation: −$13,088
• Taxable loss: −$423
• Est. tax savings @ 24.0%: +$102
• After-tax cash flow: $6,597/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

+4.9% since first listed

14 events — show timeline

• 2026-06-03 Pending — HARMLS
• 2026-05-22 Pending — HARMLS
• 2026-04-30 Listing Removed — HARMLS
• 2026-04-30 Listed $449,900 HARMLS
• 2026-02-23 Price Changed $455,000 HARMLS
• 2026-02-06 Listed $475,000 HARMLS
• 2025-11-23 Listing Removed — HARMLS
• 2025-10-23 Price Changed $490,000 HARMLS
• 2025-10-04 Listed $510,000 HARMLS
• 2015-09-18 Sold (MLS) — HARMLS
• 2015-09-02 Pending — HARMLS
• 2015-08-27 Listing Removed — HARMLS
• 2015-08-27 Listed $399,000 HARMLS
• 2014-10-17 Listed $429,000 HARMLS

Property tax history

+0.2%/yr

Latest (2025): $11,271 · +5.0% YoY. Source: county tax records.