8201 Richmond Ave #10 · Houston, TX 77063

$75,000

1 bd · 1.0 ba · 689 sqft · Condo public records · 183 Days on market

Built 1978 $109/sqft · 14% below area Est $88k · 14% under $282/mo HOA · 30% 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).

• ARV discount +13.9/15.0
• Cash flow +8.4/30.0
• 1% rule +7.5/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Rent growth +0.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated & meticulously cared. Light & bright with large windows offering scenic views of the manicured grounds, upgraded laminate flooring throughout & recessed lighting in the living room & updated kitchen/dining areas, upgraded ceiling fans in the bedroom, and a beautifully updated ensuite bathroom with new vanities & stunning glass shower! All brand new GE appliances including refrigerator, Washer and dryer. Low tax rate + monthly maintenance fee includes water, trash and extrior insurance.

Key facts

• Large windows
• Recessed lighting
• Updated kitchen

Tags

• LARGE WINDOWS
• SCENIC VIEWS
• UPGRADED LAMINATE FLOORING
• RECESSED LIGHTING
• UPDATED KITCHEN
• UPGRADED CEILING FANS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $-67 ($-802/yr) — negative.
• To cash-flow at today's rent, offer at most $63k (15.7% below list).
• Meets the 1% rule at list price ($938 rent vs $75k).
• Recommended offer: $63k (15.7% below list) — sets the bar for cash-flow.
• Cap rate 5.2% 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: Piney Point El (math 21% / reading 25%, grade F, #3,277 of 4,322 statewide, top 77%, 1,202 students, 96% FRL); Revere Middle (math 12% / reading 17%, grade F, #1,583 of 1,662 statewide, top 96%, 1,112 students, 93% FRL); Wisdom H S (math 17% / reading 16%, grade F, #1,497 of 1,632 statewide, top 92%, 2,260 students, 97% FRL) — zoned schools average 95% FRL vs 71% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 18% at this address vs 31% district-wide (-13 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 falling (-6.3%/yr); 290 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $519 of loan paydown is wiped out by about $2k 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 183 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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.
• Current owner paid $13k; list at $75k implies a 464% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $63,197 (15.7% 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 183 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.25% ✓
• Cap rate: 5.22%
• Cash-on-cash: -3.82%
• DSCR: 0.83
• GRM: 6.7

CMA / ARV

• ARV (median comp): $87,543
• List price: $75,000
• Delta: -14.33%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -28.1%
• Equity multiple: 0.10×
• Total profit: $-18,965
• Equity at exit: $11,183

10-year hold

• IRR: -61.5%
• Equity multiple: -0.52×
• Total profit: $-31,834
• Equity at exit: $6,485

Cash invested: $21,000 (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 77063

• Rents YoY: -6.3%
• Active inventory: 290
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $938 high
• Mortgage (P&I): −$393
• Tax from tax record: −$101 /mo · $1,213/yr
• Insurance: −$31
• HOA: −$282
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $-67

Break-even live

Break-even rent $1,022

Max offer price $63,197

Occupancy floor —

Sensitivity live

Price	-10% $-24	-5% $-46	+0% $-67	+5% $-88	+10% $-109
Rent	-10% $-141	-5% $-104	+0% $-67	+5% $-30	+10% $7
Rate	-1.0pp $-29	-0.5pp $-48	base $-67	+0.5pp $-86	+1.0pp $-106

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8155 Richmond Ave Houston, TX	1.0–2.0	1.0–2.0	746	$789	$1.06	1d	15	0.08mi
8168 Richmond Ave Houston, TX	1.0	1.0	676	$920	$1.36	24d	1	0.10mi
8168 Richmond Ave Houston, TX	1.0	1.0	676	$920	$1.36	45d	1	0.10mi
8162 Richmond Ave Unit 8162-1701 Houston, TX	1.0	1.0	623	$975	$1.57	45d	1	0.13mi
8162 Richmond Ave Houston, TX	1.0–2.0	1.0–2.0	746	$730	$0.98	1d	40	0.15mi
3030 Dunvale Rd Houston, TX	1.0–3.0	1.0–2.0	1107	$1,080	$0.98	0d	23	0.34mi
2827 Dunvale Rd Houston, TX	1.0–2.0	1.0–2.0	975	$1,175	$1.20	1d	43	0.39mi
2833 Dunvale Rd Houston, TX	1.0	1.0	689	$1,295	$1.88	45d	1	0.48mi
2929 Dunvale Rd Houston, TX	1.0–2.0	1.0–2.0	922	$754	$0.82	1d	10	0.49mi
8990 Richmond Ave Houston, TX	1.0	1.0	539	$774	$1.44	14d	1	0.56mi
8990 Richmond Ave Unit 147 Houston, TX	1.0	1.0	484	$815	$1.68	13d	1	0.56mi
8990 Richmond Ave Unit 1047 Houston, TX	1.0	1.0	539	$824	$1.53	5d	1	0.56mi
8990 Richmond Ave Unit 9041 Houston, TX	1.0	1.0	539	$815	$1.51	45d	1	0.56mi
8990 Richmond Ave Unit 9011 Houston, TX	1.0	1.0	539	$825	$1.53	0d	1	0.56mi
8990 Richmond Ave Unit 9011 Houston, TX	1.0	1.0	539	$820	$1.52	16d	1	0.56mi
8990 Richmond Ave Unit 1162 Houston, TX	1.0	1.0	539	$785	$1.46	7d	1	0.56mi
8990 Richmond Ave Unit 321 Houston, TX	1.0	1.0	539	$785	$1.46	9d	1	0.56mi
8990 Richmond Ave Unit 9032 Houston, TX	1.0	1.0	484	$815	$1.68	0d	1	0.56mi
8996 Richmond Ave Houston, TX	1.0	1.0	660	$1,005	$1.52	45d	1	0.58mi
8501 Westheimer Rd Houston, TX	2.0	1.0–2.0	760	$982	$1.29	9d	7	0.61mi
7979 Westheimer Rd Houston, TX	1.0–2.0	1.0–2.5	913	$799	$0.88	3d	14	0.63mi
2701 Dunvale Rd Unit ODF1 Houston, TX	1.0	1.0	706	$1,002	$1.42	14d	1	0.65mi
2724 Crossview Dr Unit 207 Houston, TX	2.0	1.0	678	$699	$1.03	45d	1	0.65mi
8100 Westheimer Rd Houston, TX	1.0	1.0	701	$1,200	$1.71	26d	1	0.69mi
2607 Lazy Hollow Dr Houston, TX	1.0	1.0	720	$990	$1.38	45d	1	0.72mi
2601 Lazy Hollow Dr Unit 1047 Houston, TX	1.0	1.0	736	$949	$1.29	5d	1	0.73mi
2601 Lazy Hollow Dr Houston, TX	1.0	1.0	736	$899	$1.22	14d	1	0.73mi
7600 Highmeadow Dr Houston, TX	1.0–2.0	1.0–2.0	954	$1,080	$1.13	1d	21	0.78mi
7900 Locke Ln Unit 7921 Houston, TX	1.0	1.0	684	$995	$1.45	16d	1	0.78mi
7900 Locke Ln Unit 324 Houston, TX	1.0	1.0	684	$960	$1.40	9d	1	0.78mi
7900 Locke Ln Unit 7921 Houston, TX	1.0	1.0	684	$999	$1.46	13d	1	0.78mi
7900 Locke Ln Unit 1047 Houston, TX	1.0	1.0	684	$990	$1.45	1d	1	0.78mi
7900 Locke Ln Unit 1112 Houston, TX	1.0	1.0	684	$1,000	$1.46	0d	1	0.78mi
3007 Hillcroft Ave Houston, TX	1.0	1.0	730	$899	$1.23	26d	1	0.78mi
3737 Hillcroft St Houston, TX	1.0–2.0	1.0–2.0	810	$749	$0.92	3d	24	0.78mi
7900 Locke Lee Ln Houston, TX	1.0–3.0	1.0–2.0	980	$875	$0.89	45d	12	0.79mi
8820 Westheimer Rd Houston, TX	1.0	1.0	701	$1,200	$1.71	45d	1	0.79mi
8820 Westheimer Rd Houston, TX	1.0	1.0	701	$1,200	$1.71	24d	1	0.79mi
8820 Westheimer Rd Unit 147 Houston, TX	1.0	1.0	592	$990	$1.67	1d	1	0.79mi
8820 Westheimer Rd Unit 1047 Houston, TX	1.0	1.0	701	$1,060	$1.51	13d	1	0.79mi

HOA detail condo

• Monthly dues: $282 · $3,384/yr
• Likely covers: watertrashlandscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $75,000 Active 183 DOM
2. 2026-06-18
   days on market $75,000 Active 180 DOM
3. 2026-06-17
   days on market $75,000 Active 179 DOM
4. 2026-06-16
   days on market $75,000 Active 178 DOM
5. 2026-06-15
   days on market $75,000 Active 177 DOM
6. 2026-06-13
   days on market $75,000 Active 175 DOM
7. 2026-06-10
   days on market $75,000 Active 171 DOM
8. 2026-06-08
   days on market $75,000 Active 170 DOM
9. 2026-06-07
   days on market $75,000 Active 169 DOM
10. 2026-06-04
    days on market $75,000 Active 166 DOM
11. 2026-06-01
    days on market $75,000 Active 163 DOM
12. 2026-05-31
    days on market $75,000 Active 162 DOM
13. 2025-12-19
    listed $75,000 Active 530-char remark

    Show marketing remark (530 chars)

    Beautifully updated & meticulously cared. Light & bright with large windows offering scenic views of the manicured grounds, upgraded laminate flooring throughout & recessed lighting in the living room & updated kitchen/dining areas, upgraded ceiling fans in the bedroom, and a beautifully updated ensuite bathroom with new vanities & stunning glass shower! All brand new GE appliances including refrigerator, Washer and dryer. Low tax rate + monthly maintenance fee includes water, trash and extrior insurance.

14. 2025-11-14
    historical
15. 2025-09-16
    price $79,000
16. 2025-08-21
    price $85,000
17. 2025-07-21
    listed $90,000 Active
18. 2025-05-05
    soldstatus
19. 2025-05-02
    soldstatus Sold
20. 2025-04-24
    status Pending
21. 2025-02-10
    listed $59,000 Active
22. 2004-09-16
    soldstatus
23. 1997-03-17
    soldstatus $13,300

ⓘ 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: $1,213 · $101/mo
• Projected year-2 tax: $1,372 · $114/mo
• Expected delta: +$160/yr (+$13/mo · 13.2%)

ⓘ 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 (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 23 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: $11,253
• − Mortgage interest: −$4,201
• − Property taxes: −$1,213
• − Insurance: −$375
• − Repairs & maintenance: −$900
• − Management: −$900
• − HOA: −$3,384
• − Depreciation: −$2,182
• Taxable loss: −$1,902
• Est. tax savings @ 24.0%: +$457
• After-tax cash flow: $-345/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): 42,690
• Household income: $59,113
• Rent vs Own: 76.0% rent · 24.0% own
• Severe rent burden: 3541.0

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: Highly diverse neighborhood (Simpson 0.75)
• Race & ethnicity: Hispanic / Latino 33% White 29% Black 21% Two or more races 17% Asian 13%
• Hispanic origin (detail): Mexican 13% Cuban 4%
• Common ancestry: Lithuanian 1% Arab 1% Slovak 1%
• Foreign-born: 43% · Canada, Jamaica, Vietnam
• Languages at home: 48% English-only · Spanish 30% Other Indo-European 8% Other Asian/Pacific 3%

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: ▼ -241.42%
• Current HPI: 194.3803
• Rent YoY: ▼ -6.28%
• 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

+463.9% since first listed

11 events — show timeline

• 2025-12-19 Listed $75,000 HARMLS
• 2025-11-14 Listing Removed — HARMLS
• 2025-09-16 Price Changed $79,000 HARMLS
• 2025-08-21 Price Changed $85,000 HARMLS
• 2025-07-21 Listed $90,000 HARMLS
• 2025-05-05 Sold (Public Records) — Public Records
• 2025-05-02 Sold (MLS) — HARMLS
• 2025-04-24 Pending — HARMLS
• 2025-02-10 Listed $59,000 HARMLS
• 2004-09-16 Sold (Public Records) — Public Records
• 1997-03-17 Sold (Public Records) $13,300 Public Records

Property tax history

+6.9%/yr

Latest (2025): $1,213 · +4.4% YoY. Source: county tax records.