9606 Riddlewood Ln · Houston, TX 77025

$600,000

None bd · None ba · 7,364 sqft · MultiFamily · 13 Days on market

Built 1960 Poor condition 9,000 sqft lot

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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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +1.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

This is an extremely distressed property which is either a tear down or significant renovation. Sold as is.

Key facts

• 9,000 sq ft lot
• Built 1960
• Listed 12 days

Property features AI

Finance

• Financial info: Annual tax amount listed (2025): $7,512

Exterior

• Utilities: Has heating; Has cooling
• Home design: Residential Income property; Built in 1960
• Construction: Building total area approximately 7,364; Year built 1960
• Exterior features: Lot approximately 9,000 square feet

Interior

• Bedrooms: 8 total units (unit-level bedroom counts not provided)
• Heating & cooling: Window unit heating; Window unit cooling
• Interior features: Residential income property with multiple units

What this means for you Summary

Snapshot

• This is a multifamily listed at $600k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $2k ($24k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $600k).
• Cap rate 10.4% 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: Pershing Middle (math 36% / reading 49%, grade D-, #553 of 1,662 statewide, top 34%, 1,390 students, 60% FRL); Madison H S (math 9% / reading 17%, grade F, #1,537 of 1,632 statewide, top 94%, 1,924 students, 93% FRL).
• Market conditions: Rents falling (-3.9%/yr); 230 active listings in the ZIP; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $7,876/mo this rent would consume 117% of the median local household income ($81k/yr) (locally 2502% 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 $4k of loan paydown is wiped out by about $18k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $600,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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 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: 1.31% ✓
• Cap rate: 10.44%
• Cash-on-cash: 14.83%
• DSCR: 1.66
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 1.3%
• Equity multiple: 1.05×
• Total profit: $7,814
• Equity at exit: $89,462

10-year hold

• IRR: 7.6%
• Equity multiple: 1.49×
• Total profit: $83,023
• Equity at exit: $51,877

Cash invested: $168,000 (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 77025

• Rents YoY: -3.9%
• Active inventory: 230
• Price-to-rent: 31.7×

Monthly cashflow live

• Estimated rent: $7,876 high
• Mortgage (P&I): −$3,146
• Tax est. 1.5%: −$750 /mo · $9,000/yr
• Insurance: −$250
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,654
• Net cashflow: $2,009

Break-even live

Break-even rent $5,333

Max offer price $600,000

Occupancy floor 69%

Sensitivity live

Price	-10% $2,424	-5% $2,216	+0% $2,009	+5% $1,802	+10% $1,594
Rent	-10% $1,387	-5% $1,698	+0% $2,009	+5% $2,320	+10% $2,631
Rate	-1.0pp $2,311	-0.5pp $2,162	base $2,009	+0.5pp $1,854	+1.0pp $1,695

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

Units	Beds	Baths	Est. rent
▸ 5× units	2	1.5	$7,875
Total (5 units)			$7,876

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-18
   days on market $600,000 Active 13 DOM
2. 2026-06-17
   days on market $600,000 Active 12 DOM
3. 2026-06-16
   days on market $600,000 Active 11 DOM
4. 2026-06-15
   days on market $600,000 Active 10 DOM
5. 2026-06-13
   pricedays on market $600,000 Active 8 DOM
6. 2026-06-09
   days on market $800,000 Active 4 DOM
7. 2026-06-08
   days on market $800,000 Active 3 DOM
8. 2026-06-07
   remarks 107-char remark
9. 2026-06-07
   listed $800,000 Active 2 DOM

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°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: $94,512
• − Mortgage interest: −$33,609
• − Property taxes: −$9,000
• − Insurance: −$3,798
• − Repairs & maintenance: −$7,561
• − Management: −$7,561
• − Depreciation: −$17,455
• Taxable income: $15,529
• Est. tax owed @ 24.0%: −$3,727
• After-tax cash flow: $20,383/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.

Condition & rehab AI · 3 photos

Poor 20/100 Extensive rehab

This multi-family property is in a state of significant disrepair, requiring extensive repairs and improvements to become move-in ready and increase its value.

Repairs flagged

• Major roof — Significant damage and potential leaks.
• Major exterior walls — Severe weathering and peeling paint.
• Major HVAC/mechanicals — Likely in need of repair or replacement due to the overall condition.
• Major landscaping — Overgrown and needs significant improvement to enhance curb appeal.

Value-add opportunities

• Both roof repair — Fixing the roof will address a major issue and improve both resale and rental value.
• Both exterior painting — Painting the exterior walls will improve the home's appearance and increase its value.
• Both HVAC replacement — Replacing the HVAC system will improve comfort and energy efficiency, enhancing both resale and rental value.
• Both landscaping improvements — A well-maintained landscape will enhance curb appeal and attract potential buyers/tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Significant damage and potential leaks.	Major	$15,000–50,000
exterior walls · Severe weathering and peeling paint.	Major	$15,000–50,000
HVAC/mechanicals · Likely in need of repair or replacement due to the overall condition.	Major	$15,000–50,000
landscaping · Overgrown and needs significant improvement to enhance curb appeal.	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both roof repair — Fixing the roof will address a major issue and improve both resale and rental value. ↑
• Both exterior painting — Painting the exterior walls will improve the home's appearance and increase its value. ↑
• Both HVAC replacement — Replacing the HVAC system will improve comfort and energy efficiency, enhancing both resale and rental value. ↑
• Both landscaping improvements — A well-maintained landscape will enhance curb appeal and attract potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 29,715
• Household income: $81,008
• Rent vs Own: 59.4% rent · 40.6% own
• Severe rent burden: 2502.0

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 0.74)
• Race & ethnicity: White 42% Hispanic / Latino 20% Asian 17% Black 15% Two or more races 13% Native American 1%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Slovak 3% Lithuanian 2% Romanian 2%
• Foreign-born: 29% · Canada, China, Vietnam
• Languages at home: 60% English-only · Spanish 16% Other Indo-European 7% Chinese 6%

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: ▼ -363.31%
• Current HPI: 187.5872
• Rent YoY: ▼ -3.93%
• 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

1 event — show timeline

• 2026-06-05 Listed $800,000 HARMLS