5417 Flamingo Dr · Houston, TX 77033

$130,000

3 bd · 2.0 ba · 1,744 sqft · SingleFamily public records · 11 Days on market

Built 1948 7,418 sqft lot Est $204k · 36% under

---

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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.9/5.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 5417 Flamingo Drive, a charming and inviting single family residence nestled in Houston's established Inwood Terrace neighborhood. The classic one-story concrete block home combines long-lasting durability with a warm, cozy layout perfect for creating lifelong memories.

Key facts

• 7,418 sq ft lot
• Built 1948
• Listed 11 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $638 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Cap rate 12.2% 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: Woodson School (math 17% / reading 22%, grade F, #3,583 of 4,322 statewide, top 86%, 572 students, 99% FRL); Thomas Middle (math 3% / reading 13%, grade F, #1,654 of 1,662 statewide, top 100%, 526 students, 98% FRL); Worthing H S (math 22% / reading 21%, grade F, #1,377 of 1,632 statewide, top 85%, 827 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 31% district-wide (-15 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+5.5%/yr); 345 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $1,992/mo this rent would consume 63% of the median local household income ($38k/yr) (locally 1728% 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 $899 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 5.5% rent growth), your $36k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• 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 $130,000

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.53% ✓
• Cap rate: 12.18%
• Cash-on-cash: 21.03%
• DSCR: 1.94
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $204,048
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5711 Thrush Dr	0.39mi	3/1.5	1,684 (-3%)	0mo	$147,500	$88	74
5727 Thrush Dr	0.44mi	3/2.5	1,684 (-3%)	5mo	$255,000	$151	68
5826 Flamingo Dr	0.67mi	3/1.5	1,753 (+0%)	3mo	$174,500	$100	64
4747 Clover St	0.67mi	3/2.0	1,851 (+6%)	1mo	$247,500	$134	58
5311 Lyndhurst Dr	0.58mi	3/1.5	1,692 (-3%)	10mo	$135,000	$80	58
5614 Northridge Dr	0.57mi	4/2.0 (+1)	1,850 (+6%)	9mo	$256,990	$139	51
5827 Heron Dr	0.67mi	4/2.0 (+1)	1,629 (-7%)	2mo	$244,990	$150	51
5003 Higgins St Unit A	0.57mi	3/2.5	1,892 (+8%)	8mo	$222,000	$117	51
5763 Thrush Dr	0.55mi	3/1.5	1,496 (-14%)	2mo	$225,000	$150	47
5843 Thrush Dr	0.72mi	3/1.5	1,512 (-13%)	4mo	$50,000	$33	39
5715 Willow Glen Dr	0.72mi	3/1.0	1,567 (-10%)	10mo	$175,000	$112	37
5823 Belmark St	0.69mi	3/2.0	1,502 (-14%)	11mo	$121,000	$81	36

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 · 5.45% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 1.68×
• Total profit: $24,645
• Equity at exit: $19,383

10-year hold

• IRR: 26.7%
• Equity multiple: 3.63×
• Total profit: $95,692
• Equity at exit: $11,240

Cash invested: $36,400 (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 77033

• Home prices YoY: -16.3%
• Rents YoY: 5.5%
• Active inventory: 345
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,992 high
• Mortgage (P&I): −$682
• Tax from tax record: −$200 /mo · $2,394/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $638

Break-even live

Break-even rent $1,184

Max offer price $130,000

Occupancy floor 63%

Sensitivity live

Price	-10% $711	-5% $675	+0% $638	+5% $601	+10% $564
Rent	-10% $481	-5% $559	+0% $638	+5% $717	+10% $795
Rate	-1.0pp $703	-0.5pp $671	base $638	+0.5pp $604	+1.0pp $570

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5407 Thrush Dr Houston, TX	4.0	1.0	1407	$1,495	$1.06	15d	1	0.08mi
5036 Mallow St Houston, TX	3.0	3.0	1472	$2,050	$1.39	45d	1	0.31mi
5623 Bellfort St Houston, TX	4.0	1.0	1320	$1,700	$1.29	16d	1	0.42mi
9509 Merle St Unit 9509A Houston, TX	4.0	2.5	1404	$1,500	$1.07	45d	1	0.56mi
5767 Belcrest St Houston, TX	4.0	2.0	1480	$1,790	$1.21	45d	1	0.57mi
4918 Wilmington St Unit A Houston, TX	3.0	3.0	1300	$2,100	$1.62	45d	1	0.60mi
5012 Higgins St Unit B Houston, TX	3.0	2.5	1611	$1,650	$1.02	25d	1	0.60mi
5222 Northridge Dr Houston, TX	4.0	2.0	1300	$1,850	$1.42	25d	1	0.64mi
4921a Pederson St Unit A Houston, TX	3.0	2.0	1765	$2,150	$1.22	14d	1	0.69mi
4810 Wilmington St Unit A Houston, TX	3.0	2.0	1165	$1,650	$1.42	45d	1	0.70mi
4723 Mallow St Houston, TX	3.0	2.5	1472	$1,850	$1.26	6d	1	0.73mi
5818 Glenhurst Dr Houston, TX	3.0	2.0	1441	$1,750	$1.21	0d	1	0.85mi
5314 Longmeadow St Houston, TX	3.0	3.0	1646	$1,900	$1.15	45d	1	0.85mi
5942 Ridgeway Dr Houston, TX	4.0	2.0	1490	$2,250	$1.51	45d	1	0.87mi
5408 Groveton St Houston, TX	4.0	2.0	1472	$1,983	$1.35	0d	1	0.89mi
4835 Sunflower St Unit 1546466P Houston, TX	3.0	2.0	1883	$4,516	$2.40	16d	1	0.95mi
7710 Darnay Dr Houston, TX	3.0	3.0	1635	$2,095	$1.28	45d	1	0.96mi
4538 Clover St Houston, TX	4.0	2.0	1768	$1,595	$0.90	45d	1	1.01mi
4526 Knoxville St Unit A Houston, TX	3.0	2.5	1474	$1,775	$1.20	16d	1	1.06mi
8107 Calhoun Rd Houston, TX	3.0	2.5	1304	$2,250	$1.73	25d	1	1.06mi
8606 Lee Otis St Houston, TX	4.0	2.5	1869	$1,975	$1.06	0d	1	1.07mi
5726 Waterford Dr Houston, TX	3.0	2.0	2000	$1,850	$0.93	12d	1	1.08mi
4514 Galesburg St Unit B Houston, TX	3.0	2.5	1680	$3,500	$2.08	25d	1	1.11mi
4601 White Rock St Unit A Houston, TX	3.0	2.5	1700	$2,500	$1.47	45d	1	1.17mi
4613 Bricker St Unit B Houston, TX	3.0	2.5	1600	$2,300	$1.44	45d	1	1.19mi
4609 Bricker St Unit B Houston, TX	3.0	2.5	1300	$3,500	$2.69	14d	1	1.20mi
4609 Bricker St Unit ABC Houston, TX	3.0	2.5	1375	$3,500	$2.55	13d	1	1.20mi
4609 Bricker St Unit C Houston, TX	2.0	1.5	1100	$3,200	$2.91	14d	1	1.20mi
7358 Guadalcanal Rd Houston, TX	3.0	3.0	1768	$2,195	$1.24	45d	1	1.24mi
5458 Osprey Dr Houston, TX	3.0	2.0	1614	$1,595	$0.99	22d	1	1.28mi
4406 Sterling St Houston, TX	3.0	2.5	1840	$1,999	$1.09	18d	1	1.30mi
6850 Southbank St Unit A Houston, TX	3.0	3.0	2000	$2,200	$1.10	6d	1	1.33mi
6850 Southbank St Unit A Houston, TX	3.0	3.0	2000	$2,200	$1.10	5d	1	1.33mi
5954 Doolittle Blvd Houston, TX	3.0	2.0	1371	$1,575	$1.15	45d	1	1.33mi
10902 Faircroft Dr Houston, TX	3.0	1.0	1308	$1,455	$1.11	0d	1	1.40mi
4530 Mayflower St Houston, TX	3.0	2.0	1302	$1,800	$1.38	45d	1	1.41mi
5426 Greylog Dr Houston, TX	3.0	2.0	1205	$1,750	$1.45	25d	1	1.46mi
4942 Bataan Rd Unit 77033 Houston, TX	4.0	2.0	1350	$1,800	$1.33	45d	1	1.48mi

Listing history 7 events

1. 2026-06-21
   days on market $130,000 Coming Soon 11 DOM
2. 2026-06-18
   days on market $130,000 Coming Soon 8 DOM
3. 2026-06-17
   days on market $130,000 Coming Soon 7 DOM
4. 2026-06-16
   days on market $130,000 Coming Soon 6 DOM
5. 2026-06-15
   days on market $130,000 Coming Soon 5 DOM
6. 2026-06-13
   remarks 281-char remark
7. 2026-06-13
   listed $130,000 Coming Soon 3 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: $2,394 · $200/mo
• Projected year-2 tax: $2,394 · $200/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 1/10 Low FEMA zone X (unshaded) · 0% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,899
• − Mortgage interest: −$7,282
• − Property taxes: −$2,394
• − Insurance: −$650
• − Repairs & maintenance: −$1,912
• − Management: −$1,912
• − Depreciation: −$3,782
• Taxable income: $5,967
• Est. tax owed @ 24.0%: −$1,432
• After-tax cash flow: $6,223/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): 29,154
• Household income: $38,071
• Rent vs Own: 41.0% rent · 59.0% own
• Severe rent burden: 1728.0

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: Majority Black (55%)
• Race & ethnicity: Black 55% Hispanic / Latino 43% Two or more races 17% Native American 1%
• Hispanic origin (detail): Mexican 35%
• Common ancestry: Lithuanian 1%
• Foreign-born: 18% · Canada
• Languages at home: 61% English-only · Spanish 39%

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: ▼ -41.49%
• Current HPI: 212.6472
• Rent YoY: ▲ 5.45%
• 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

2 events — show timeline

• 2026-06-10 Coming Soon $130,000 HARMLS
• 1989-04-25 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $2,394 · +11.7% YoY. Source: county tax records.