5353 Richmond Ave #4 · Houston, TX 77056

$89,000

1 bd · 1.0 ba · 686 sqft · Condo public records · 48 Days on market

Built 1965 $130/sqft · 24% below area Est $117k · 24% under $446/mo HOA · 35% 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 +15.0/15.0
• 1% rule +9.3/10.0
• Cash flow +7.2/30.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated unit: stainless steel appliances, granite counter tops, new ceramic tiles throughout, updated chrome fixtures. HOA fees include all utilities. Great central location. Ideal for new buyer and/or investor.

Key facts

• Remodeled bathroom
• Pool facing
• Tile flooring

Tags

• POOL FACING
• GRANITE COUNTERTOPS
• TILE FLOORING
• REMODELED BATHROOM
• ASSIGNED PARKING

Property features AI

Finance

• HOA & community: Association managed by pmg management; Monthly association fee of $446; Association covers common areas, cable TV, electricity, structure maintenance, sewer, utilities, and water; Community pool

Exterior

• Parking: Detached carport; Assigned parking; 1 carport space
• Security: Gated community
• Utilities: Public water; Public sewer
• Home design: Residential property; Single-story; Built in 1965; Slab foundation
• Construction: Brick, stone, and wood siding construction
• Exterior features: Composition roof; Large lot (approx. 93,606 sq ft)

Interior

• Kitchen: Dishwasher; Electric range; Garbage disposal; Granite counters
• Bedrooms: Primary bedroom on first floor (approx. 14 x 13)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Granite counters; Seller disclosure available
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $89k.

Deal economics

• At list price, monthly cash flow is $-189 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $56k (37.4% below list).
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $56k (37.4% below list) — sets the bar for cash-flow.
• Cap rate 4.6% 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: School At St George Place (math 34% / reading 46%, grade F, #1,514 of 4,322 statewide, top 36%, 782 students, 55% FRL); Tanglewood Middle (math 29% / reading 42%, grade F, #827 of 1,662 statewide, top 51%, 808 students, 62% 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 at 71% FRL track the district average.
• Market conditions: Rents soft (-1.7%/yr); 313 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent is only 16% of the median local income ($93k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $615 of loan paydown is wiped out by about $3k 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 48 days — a 3% lower offer ($86k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 35% of rent.
• 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 $55,683 (37.4% 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 48 days. Have you received any prior offers? Is the seller open to a 37% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
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: 1.43% ✓
• Cap rate: 4.65%
• Cash-on-cash: -5.88%
• DSCR: 0.74
• GRM: 5.8

CMA / ARV

• ARV (median comp): $116,723
• List price: $89,000
• Delta: -23.75%
• 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: -39.9%
• Equity multiple: -0.20×
• Total profit: $-29,784
• Equity at exit: $13,270

10-year hold

• IRR: —
• Equity multiple: -1.18×
• Total profit: $-54,276
• Equity at exit: $7,695

Cash invested: $24,920 (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 77056

• Rents YoY: -1.7%
• Active inventory: 313
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,271 high
• Mortgage (P&I): −$467
• Tax from tax record: −$176 /mo · $2,115/yr
• Insurance: −$37
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$446
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $-189

Break-even live

Break-even rent $1,509

Max offer price $55,683

Occupancy floor —

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5331 Beverly Hill St Houston, TX	1.0–4.0	1.0–2.5	1370	$866	$0.63	2d	84	0.08mi
5333 Richmond Ave #3 Houston, TX	1.0	1.0	686	$949	$1.38	24d	1	0.09mi
5333 Richmond Ave #23 Houston, TX	1.0	1.0	678	$1,699	$2.51	43d	1	0.09mi
5455 Richmond Ave Unit 5455-1092 Houston, TX	1.0	2.0	654	$1,150	$1.76	24d	1	0.11mi
5455 Richmond Ave Houston, TX	1.0–2.0	1.0–2.0	943	$1,095	$1.16	2d	20	0.12mi
3099 Yorktown St Houston, TX	1.0	1.0	699	$1,299	$1.86	18d	1	0.29mi
3300 Sage Rd Houston, TX	1.0–2.0	1.0–2.0	891	$1,274	$1.43	2d	33	0.31mi
5151 Richmond Ave Unit 5225 Houston, TX	1.0	1.0	630	$1,069	$1.70	11d	1	0.35mi
5151 Richmond Ave Unit 1165 Houston, TX	1.0	1.0	630	$1,027	$1.63	3d	1	0.36mi
5151 Richmond Ave Houston, TX	1.0	1.0	630	$1,019	$1.62	12d	1	0.36mi
5151 Richmond Ave Unit 324 Houston, TX	1.0	1.0	630	$1,030	$1.63	7d	1	0.36mi
5151 Richmond Ave Unit 5172 Houston, TX	1.0	1.0	630	$1,087	$1.73	14d	1	0.36mi
3360 McCue Rd Houston, TX	1.0–2.0	1.0–2.5	902	$1,745	$1.93	3d	37	0.39mi
3055 Sage Rd Ste 130 Houston, TX	1.0	1.0	627	$1,047	$1.67	24d	1	0.40mi
5195 Hidalgo St Houston, TX	1.0	1.0	685	$1,420	$2.07	24d	1	0.40mi
3323 McCue Rd Houston, TX	1.0–3.0	1.0–2.0	1029	$1,093	$1.06	1d	45	0.43mi
5151 Hidalgo St Houston, TX	1.0–2.0	1.0–2.0	923	$1,393	$1.51	7d	3	0.44mi
5151 Hidalgo St Unit 5193 Houston, TX	1.0	1.0	578	$1,402	$2.43	11d	1	0.44mi
5151 Hidalgo St Unit 5166 Houston, TX	1.0	1.0	625	$1,432	$2.29	11d	1	0.44mi
5151 Hidalgo St Unit 1187 Houston, TX	1.0	1.0	625	$1,390	$2.22	3d	1	0.44mi
5151 Hidalgo St Unit 1162 Houston, TX	1.0	1.0	625	$1,393	$2.23	5d	1	0.44mi
5151 Hidalgo St Unit 5166 Houston, TX	1.0	1.0	627	$1,350	$2.15	15d	1	0.44mi
6061 Beverly Hills Walk Houston, TX	1.0–2.0	1.0–2.0	971	$895	$0.92	2d	62	0.46mi
3363 McCue Rd Houston, TX	1.0–3.0	1.0–2.0	1026	$1,170	$1.14	2d	18	0.47mi
5151 Hidalgo St Unit 165 Houston, TX	1.0	1.0	578	$1,370	$2.37	3d	1	0.49mi
5192 Hidalgo St Houston, TX	1.0	1.0	706	$1,065	$1.51	24d	1	0.52mi
5199 Alabama St Houston, TX	1.0	1.0	745	$1,793	$2.41	12d	1	0.55mi
5510 S Rice Ave Houston, TX	1.0	1.0	638	$1,039	$1.63	12d	1	0.56mi
2687 Yorktown St Houston, TX	1.0	1.0	742	$1,237	$1.67	24d	1	0.56mi
5510 S Rice Ave Unit 5531 Houston, TX	1.0	1.0	638	$1,130	$1.77	14d	1	0.56mi
5510 S Rice Ave Unit 325 Houston, TX	1.0	1.0	638	$1,047	$1.64	3d	1	0.56mi
5510 S Rice Ave Unit 324 Houston, TX	1.0	1.0	638	$1,050	$1.65	7d	1	0.56mi
5510 S Rice Ave Unit 1162 Houston, TX	1.0	1.0	638	$1,050	$1.65	5d	1	0.56mi
5510 S Rice Ave Unit 5584 Houston, TX	1.0	1.0	638	$1,089	$1.71	11d	1	0.56mi
5510 S Rice Ave Unit 1047 Houston, TX	1.0	1.0	638	$1,090	$1.71	11d	1	0.59mi
5401 Chimney Rock Rd Houston, TX	1.0–2.0	1.0–2.0	827	$804	$0.97	2d	10	0.60mi
3100 Post Oak Blvd Houston, TX	2.0	1.0–2.0	971	$2,026	$2.09	2d	24	0.63mi
2801 Waterwall Dr Houston, TX	1.0–2.0	1.0–2.0	1080	$1,572	$1.45	1d	22	0.64mi
5500 El Camino Del Rey St Houston, TX	3.0	1.0–2.5	890	$888	$1.00	1d	24	0.70mi
5250 Brownway St Houston, TX	2.0	1.0–2.0	903	$2,218	$2.46	2d	39	0.72mi

HOA detail condo

• Monthly dues: $446 · $5,352/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-18
   days on market $89,000 Active 48 DOM
2. 2026-06-17
   days on market $89,000 Active 47 DOM
3. 2026-06-16
   days on market $89,000 Active 46 DOM
4. 2026-06-16
   price $89,000 Active 45 DOM
5. 2026-06-15
   days on market $95,000 Active 45 DOM
6. 2026-06-13
   days on market $95,000 Active 43 DOM
7. 2026-06-10
   days on market $95,000 Active 39 DOM
8. 2026-06-08
   days on market $95,000 Active 38 DOM
9. 2026-06-07
   days on market $95,000 Active 37 DOM
10. 2026-06-04
    days on market $95,000 Active 34 DOM
11. 2026-06-01
    days on market $95,000 Active 31 DOM
12. 2026-05-31
    days on market $95,000 Active 30 DOM
13. 2026-05-01
    listed $95,000 Active 188-char remark
14. 2010-02-26
    soldstatus
15. 2010-02-26
    soldstatus
16. 2010-02-24
    soldstatus 213-char remark

    Show marketing remark (213 chars)

    Updated unit: stainless steel appliances, granite counter tops, new ceramic tiles throughout, updated chrome fixtures. HOA fees include all utilities. Great central location. Ideal for new buyer and/or investor.

17. 2009-10-21
    historical 213-char remark

    Show marketing remark (213 chars)

    Updated unit: stainless steel appliances, granite counter tops, new ceramic tiles throughout, updated chrome fixtures. HOA fees include all utilities. Great central location. Ideal for new buyer and/or investor.

18. 2009-04-18
    listed $60,500 213-char remark

    Show marketing remark (213 chars)

    Updated unit: stainless steel appliances, granite counter tops, new ceramic tiles throughout, updated chrome fixtures. HOA fees include all utilities. Great central location. Ideal for new buyer and/or investor.

19. 2007-10-03
    soldstatus
20. 2007-09-29
    historical
21. 2007-09-17
    listed $49,900
22. 2006-08-01
    historical
23. 2006-07-05
    listed $49,900
24. 1990-06-14
    soldstatus

ⓘ 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: $2,115 · $176/mo
• Projected year-2 tax: $2,115 · $176/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 7/10 Severe FEMA zone X (unshaded) · 99% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,249
• − Mortgage interest: −$4,985
• − Property taxes: −$2,115
• − Insurance: −$1,242
• − Repairs & maintenance: −$1,220
• − Management: −$1,220
• − HOA: −$5,352
• − Depreciation: −$2,589
• Taxable loss: −$3,475
• Est. tax savings @ 24.0%: +$834
• After-tax cash flow: $-1,429/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): 22,877
• Household income: $93,499
• Rent vs Own: 66.5% rent · 33.5% own
• Severe rent burden: 2132.0

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 0.64)
• Race & ethnicity: White 54% Hispanic / Latino 22% Asian 14% Two or more races 13% Black 8%
• Hispanic origin (detail): Mexican 11% Puerto Rican 1% Salvadoran 1%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 2%
• Foreign-born: 29% · Canada, Jamaica, China
• Languages at home: 60% English-only · Spanish 20% Other Indo-European 7% Other Asian/Pacific 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: ▼ -127.46%
• Current HPI: 175.1726
• Rent YoY: ▼ -1.70%
• 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

+78.4% since first listed

13 events — show timeline

• 2026-06-15 Price Changed $89,000 HARMLS
• 2026-05-01 Listed $95,000 HARMLS
• 2010-02-26 Sold (Public Records) — Public Records
• 2010-02-26 Sold (Public Records) — Public Records
• 2010-02-24 Sold (MLS) — HARMLS
• 2009-10-21 Listing Removed — HARMLS
• 2009-04-18 Listed $60,500 HARMLS
• 2007-10-03 Sold (Public Records) — Public Records
• 2007-09-29 Listing Removed — HARMLS
• 2007-09-17 Listed $49,900 HARMLS
• 2006-08-01 Listing Removed — HARMLS
• 2006-07-05 Listed $49,900 HARMLS
• 1990-06-14 Sold (Public Records) — Public Records

Property tax history

+3.0%/yr

Latest (2025): $2,115 · +1.6% YoY. Source: county tax records.