5621 Haywood St · Houston, TX 77016

$500,000

4 bd · 2.0 ba · 3,653 sqft · MultiFamily · 311 Days on market

Built 1985 0.79 ac lot $137/sqft · 12% above area Est $445k · 12% over ↓ 23% since listing

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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 +11.1/30.0
• Appreciation +9.3/10.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• DSCR +3.2/10.0
• Schools +2.7/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• ARV discount +1.9/15.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This versatile property features a spacious carport garage and a separate building with four rooms and two bathrooms, previously used as a mechanic shop. With its generous layout, the lot is perfect for continuing an auto repair business or transforming the space for various purposes. The structure’s multiple rooms and bathrooms offer potential for use as offices, a retail store, or even a small industrial workspace. The large garage could serve as a storage facility, studio, or workshop, making this lot an excellent opportunity for entrepreneurs looking to expand beyond its past as a mechanic shop.

Key facts

• Two bathrooms
• Separate building
• Large garage

Tags

• CARPORT GARAGE
• SEPARATE BUILDING
• FOUR ROOMS
• TWO BATHROOMS
• LARGE GARAGE
• STORAGE FACILITY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $500k.

Deal economics

• At list price, monthly cash flow is $-197 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $471k (5.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $412k (17.5% below list).
• Recommended offer: $412k (17.5% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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 flat; 372 active listings in the ZIP; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $4,124/mo this rent would consume 104% of the median local household income ($48k/yr) (locally 1297% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $47k of equity ($3k loan paydown + $43k appreciation (8.7% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$75k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 311 days — a 12% lower offer ($440k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y 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.

Recommended offer $412,400 (17.5% 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. It's been on market 311 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
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. 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: 0.82% ✗
• Cap rate: 5.82%
• Cash-on-cash: -1.69%
• DSCR: 0.92
• GRM: 10.1

CMA / ARV

• ARV (median comp): $444,588
• List price: $500,000
• Delta: 12.46%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10214 Hollyglen Dr	0.64mi	3/— (-1)	3,400 (-7%)	9mo	$475,000	$140	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

8.65% appreciation · 0.44% rent growth · sell at horizon

5-year hold

• IRR: 19.3%
• Equity multiple: 2.46×
• Total profit: $204,039
• Equity at exit: $402,137

10-year hold

• IRR: 17.3%
• Equity multiple: 5.17×
• Total profit: $583,823
• Equity at exit: $820,473

Cash invested: $140,000 (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 77016

• Home prices YoY: 2.8%
• Rents YoY: 0.4%
• Active inventory: 372
• Price-to-rent: 40.4×

Monthly cashflow live

• Estimated rent: $4,124 high
• Mortgage (P&I): −$2,622
• Tax est. 1.5%: −$625 /mo · $7,500/yr
• Insurance: −$208
• HOA: −$0
• Vacancy / Maint / Mgmt: −$866
• Net cashflow: $-197

Break-even live

Break-even rent $4,374

Max offer price $471,432

Occupancy floor 100%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	1	1	$4,124
Total (4 units)			$4,124

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: $125,000
• Closing costs: $15,000
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $500,000 Active 311 DOM
2. 2026-06-17
   days on market $500,000 Active 310 DOM
3. 2026-06-16
   days on market $500,000 Active 309 DOM
4. 2026-06-15
   days on market $500,000 Active 308 DOM
5. 2026-06-13
   days on market $500,000 Active 306 DOM
6. 2026-06-10
   days on market $500,000 Active 302 DOM
7. 2026-06-08
   days on market $500,000 Active 301 DOM
8. 2026-06-07
   days on market $500,000 Active 300 DOM
9. 2026-06-04
   days on market $500,000 Active 297 DOM
10. 2026-06-01
    days on market $500,000 Active 294 DOM
11. 2026-05-31
    days on market $500,000 Active 293 DOM
12. 2025-08-11
    listed $500,000 Active 612-char remark

    Show marketing remark (612 chars)

    This versatile property features a spacious carport garage and a separate building with four rooms and two bathrooms, previously used as a mechanic shop. With its generous layout, the lot is perfect for continuing an auto repair business or transforming the space for various purposes. The structure’s multiple rooms and bathrooms offer potential for use as offices, a retail store, or even a small industrial workspace. The large garage could serve as a storage facility, studio, or workshop, making this lot an excellent opportunity for entrepreneurs looking to expand beyond its past as a mechanic shop.

13. 2025-08-01
    historical
14. 2025-04-09
    listed $575,000 Active
15. 2025-04-09
    historical
16. 2024-11-12
    listed $650,000 Active
17. 2024-11-12
    historical
18. 2024-10-08
    listed $650,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $49,488
• − Mortgage interest: −$28,008
• − Property taxes: −$7,500
• − Insurance: −$2,500
• − Repairs & maintenance: −$3,959
• − Management: −$3,959
• − Depreciation: −$14,545
• Taxable loss: −$10,983
• Est. tax savings @ 24.0%: +$2,636
• After-tax cash flow: $267/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): 29,841
• Household income: $47,677
• Rent vs Own: 38.8% rent · 61.2% own
• Severe rent burden: 1297.0

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 (56%)
• Race & ethnicity: Black 56% Hispanic / Latino 42% Two or more races 28%
• Hispanic origin (detail): Mexican 34%
• Foreign-born: 18% · Canada
• Languages at home: 61% English-only · Spanish 37%

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: ▲ 8.65%
• Current HPI: 315.6765
• Rent YoY: ▲ 0.44%
• 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

-23.1% since first listed

7 events — show timeline

• 2025-08-11 Listed $500,000 HARMLS
• 2025-08-01 Listing Removed — HARMLS
• 2025-04-09 Listing Removed — HARMLS
• 2025-04-09 Listed $575,000 HARMLS
• 2024-11-12 Listing Removed — HARMLS
• 2024-11-12 Listed $650,000 HARMLS
• 2024-10-08 Listed $650,000 HARMLS