5634 Kiam St Unit C · Houston, TX 77007

$518,900

3 bd · 3.5 ba · 2,984 sqft · SingleFamily public records · 9 Days on market

Built 2016 1,783 sqft lot $174/sqft · 10% below area Est $497k · at est.

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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 +13.8/30.0
• ARV discount +5.6/15.0
• 1% rule +4.6/10.0
• DSCR +4.2/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

ABSOLUTELY GORGEOUS NEW home with stunning designer finishes & tons of natural light! Second floor designed for entertaining w/ open concept living with soaring ceilings, triple crown molding, hardwoods, built-ins & gas fireplace. Gourmet kitchen features custom cabinets in an off-white finish with island, granite, high end appliances and fixtures. Master suite offers 2 walk-in closets & luxurious bath. An emphasis on quality is evident in every room throughout home, this one is a MUST SEE!

Key facts

• Island kitchen
• Plantation shutters
• Gated drive

Tags

• GATED DRIVE
• ISLAND KITCHEN
• PRIVATE FENCED SIDEYARD
• PERGOLA
• OVERSIZED WINDOWS
• PLANTATION SHUTTERS

Property features AI

Finance

• HOA & community: Gated community; Association fees include common areas

Exterior

• Parking: Attached 2-car garage with garage door opener
• Security: Security gate; Prewired for security; Owned security system; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; Faces west; Built in 2016; Slab foundation
• Construction: Brick and stucco construction; Composition roof
• Exterior features: Fully fenced backyard; Back yard fencing; Porch

Interior

• Kitchen: Dishwasher; Gas cooktop; Gas oven; Microwave; Disposal; Refrigerator; Kitchen island
• Bedrooms: Primary bedroom on third level (23 x 17); Additional bedrooms on first and third levels
• Flooring: Carpet; Tile; Travertine; Wood
• Bathrooms: 3 full bathrooms; 1 half bathroom; Primary bathroom on third level; Double vanity in at least one bath; Soaking tub and separate shower
• Heating & cooling: Central heating (gas); Central electric air conditioning; Has heating and cooling
• Interior features: Entrance foyer; High ceilings; Vaulted ceilings; Kitchen/Family room combo; Kitchen island; Double vanity; Bath in primary bedroom; Soaking tub; Separate shower; Multiple staircases; Wired for sound; Window coverings
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $519k.

Deal economics

• At list price, monthly cash flow is $-21 ($-246/yr) — negative.
• To cash-flow at today's rent, offer at most $515k (0.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $499k (3.9% below list).
• Recommended offer: $499k (3.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: Memorial El (math 52% / reading 52%, grade C-, #742 of 4,322 statewide, top 19%, 424 students, 45% FRL); Hogg Middle (math 44% / reading 48%, grade D+, #462 of 1,662 statewide, top 28%, 1,120 students, 52% FRL); Waltrip H S (math 15% / reading 32%, grade F, #1,342 of 1,632 statewide, top 82%, 1,597 students, 74% FRL).
• Market conditions: Rents soft (-0.8%/yr); 651 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 41% of the median local income ($145k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k 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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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.

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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $498,725 (3.9% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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 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: 0.96% ✗
• Cap rate: 6.40%
• Cash-on-cash: 0.38%
• DSCR: 1.02
• GRM: 8.7

CMA / ARV

• ARV (median comp): $497,349
• List price: $518,900
• Delta: 4.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5607 Cohn Mdws	0.10mi	3/3.5	3,162 (+6%)	1mo	$699,900	$221	84
5717 Arabelle Crst	0.15mi	3/4.5	2,881 (-4%)	2mo	$625,000	$217	81
2704 Maxroy Dr	0.44mi	4/4.5 (+1)	2,988 (+0%)	1mo	$805,000	$269	69
2709 Arabelle Grv	0.16mi	4/3.5 (+1)	2,630 (-12%)	0mo	$625,000	$238	68
6107 Queenswood Ln	0.38mi	4/3.0 (+1)	2,858 (-4%)	1mo	$990,000	$346	68
1505 Detering St	0.67mi	3/3.5	2,990 (+0%)	2mo	$575,000	$192	67
6603 Wanita Pl Unit A	0.56mi	3/3.5	3,163 (+6%)	1mo	$799,000	$253	63
5719 Darling St	0.17mi	4/3.0 (+1)	2,537 (-15%)	1mo	$490,000	$193	60
5336 Inker St	0.56mi	4/3.5 (+1)	3,179 (+6%)	1mo	$780,000	$245	57
5908 Kansas St Unit A	0.34mi	3/2.5	2,576 (-14%)	1mo	$639,900	$248	57
5602 Schuler St	0.69mi	3/3.5	2,677 (-10%)	1mo	$495,000	$185	50
1520 Malone St	0.56mi	3/4.0	2,557 (-14%)	1mo	$539,000	$211	47

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.31×
• Total profit: $-99,702
• Equity at exit: $77,370

10-year hold

• IRR: -23.1%
• Equity multiple: 0.01×
• Total profit: $-143,745
• Equity at exit: $44,865

Cash invested: $145,292 (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 77007

• Rents YoY: -0.8%
• Active inventory: 651
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $4,987 high
• Mortgage (P&I): −$2,721
• Tax from tax record: −$957 /mo · $11,479/yr
• Insurance: −$216
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,047
• Net cashflow: $-21

Break-even live

Break-even rent $5,013

Max offer price $515,274

Occupancy floor 95%

Sensitivity live

Price	-10% $273	-5% $126	+0% $-21	+5% $-167	+10% $-314
Rent	-10% $-415	-5% $-218	+0% $-21	+5% $176	+10% $373
Rate	-1.0pp $241	-0.5pp $111	base $-21	+0.5pp $-155	+1.0pp $-292

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: $129,725
• Closing costs: $15,567
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5620 Petty St Unit 1019538P Houston, TX	4.0	3.5	2884	$16,259	$5.64	23d	1	0.10mi
5620 Petty St Houston, TX	4.0	3.5	2891	$8,750	$3.03	45d	1	0.10mi
5530 Kiam St Unit 1019540P Houston, TX	4.0	2.5	2680	$15,799	$5.90	45d	1	0.14mi
5530 Kiam St Houston, TX	4.0	2.5	2688	$9,750	$3.63	45d	1	0.14mi
5732 Darling St Unit 1056419P Houston, TX	3.0	3.5	2400	$7,771	$3.24	45d	1	0.18mi
5427 Kansas St Houston, TX	3.0	4.0	2156	$2,700	$1.25	45d	1	0.28mi
2210 Radcliffe St Houston, TX	3.0	3.5	2066	$2,716	$1.31	9d	1	0.30mi
543 T C Jester Blvd Unit 1225766P Houston, TX	3.0	3.5	2389	$5,557	$2.33	1d	1	0.32mi
5336 Darling St Unit 1225767P Houston, TX	3.0	3.0	2292	$5,997	$2.62	1d	1	0.42mi
5235 Petty St Unit B Houston, TX	3.0	2.5	2532	$3,000	$1.18	45d	1	0.52mi
5811 Maxie St Houston, TX	3.0	3.5	2226	$3,000	$1.35	45d	1	0.59mi
5108 Larkin St Houston, TX	3.0	3.5	2108	$2,850	$1.35	46d	1	0.69mi
5610 Schuler St Houston, TX	3.0	3.5	2614	$3,111	$1.19	7d	1	0.71mi
929 Westcott St Houston, TX	1.0–3.0	1.0–3.0	1375	$9,263	$6.74	1d	21	0.81mi
5305 Nett St Unit A Houston, TX	3.0	3.5	2104	$2,950	$1.40	26d	1	0.86mi
5237 Center St Houston, TX	3.0	3.0	2284	$2,995	$1.31	45d	1	0.93mi
1306 Dian St Houston, TX	4.0	2.5	2151	$3,250	$1.51	1d	1	1.06mi
4510 Inker St Houston, TX	4.0	4.0	2293	$4,500	$1.96	45d	1	1.13mi
1723 W 14th St Unit B Houston, TX	3.0	3.5	2373	$3,400	$1.43	22d	1	1.15mi
4608 Nett St Houston, TX	3.0	4.0	2261	$3,750	$1.66	45d	1	1.19mi
1126 W 16th St Houston, TX	3.0	4.0	2494	$4,295	$1.72	45d	1	1.23mi
4311 Marina St Houston, TX	3.0	4.0	2328	$3,599	$1.55	45d	1	1.23mi
1332 Dorothy St Houston, TX	3.0	3.5	2980	$6,500	$2.18	23d	1	1.29mi
4444 Center St Houston, TX	3.0	3.0	2121	$3,200	$1.51	45d	1	1.31mi
1157 W 18th St Houston, TX	3.0	3.0	2431	$3,500	$1.44	45d	1	1.39mi
1113 W 18th St Unit C Houston, TX	4.0	3.5	2150	$3,249	$1.51	45d	1	1.41mi
1221 Bonner St Houston, TX	3.0	3.5	2252	$3,200	$1.42	45d	1	1.43mi
915 Thompson St Unit 915 Houston, TX	4.0	3.5	3200	$8,500	$2.66	26d	1	1.44mi
917 Thompson St Unit 917 Houston, TX	4.0	3.5	3200	$8,000	$2.50	26d	1	1.45mi
913 Thompson St #913 Houston, TX	4.0	3.5	3200	$8,500	$2.66	26d	1	1.45mi
1221 W 19th St Unit B Houston, TX	3.0	2.5	2200	$3,400	$1.55	4d	1	1.45mi
911 Thompson St #911 Houston, TX	4.0	3.5	3200	$8,500	$2.66	26d	1	1.45mi

Listing history 21 events

1. 2026-06-21
   days on market $518,900 Active 9 DOM
2. 2026-06-18
   days on market $518,900 Active 6 DOM
3. 2026-06-17
   days on market $518,900 Active 5 DOM
4. 2026-06-16
   days on market $518,900 Active 4 DOM
5. 2026-06-15
   days on market $518,900 Active 3 DOM
6. 2026-06-13
   days on marketlisting id $518,900 Active 1 DOM
7. 2026-06-10
   days on market $518,900 Active 69 DOM
8. 2026-06-08
   days on market $518,900 Active 68 DOM
9. 2026-06-07
   days on market $518,900 Active 67 DOM
10. 2026-06-04
    days on market $518,900 Active 64 DOM
11. 2026-06-01
    days on market $518,900 Active 61 DOM
12. 2026-05-31
    days on market $518,900 Active 60 DOM
13. 2026-05-08
    price $518,900 1015-char remark
14. 2026-04-01
    listed $545,000 Active 1015-char remark
15. 2017-05-11
    soldstatus
16. 2017-05-10
    soldstatus Sold 513-char remark

    Show marketing remark (513 chars)

    ABSOLUTELY GORGEOUS NEW home with stunning designer finishes & tons of natural light! Second floor designed for entertaining w/ open concept living with soaring ceilings, triple crown molding, hardwoods, built-ins & gas fireplace. Gourmet kitchen features custom cabinets in an off-white finish with island, granite, high end appliances and fixtures. Master suite offers 2 walk-in closets & luxurious bath. An emphasis on quality is evident in every room throughout home, this one is a MUST SEE!

17. 2017-04-04
    status Pending, Continue to Show 513-char remark

    Show marketing remark (513 chars)

    ABSOLUTELY GORGEOUS NEW home with stunning designer finishes & tons of natural light! Second floor designed for entertaining w/ open concept living with soaring ceilings, triple crown molding, hardwoods, built-ins & gas fireplace. Gourmet kitchen features custom cabinets in an off-white finish with island, granite, high end appliances and fixtures. Master suite offers 2 walk-in closets & luxurious bath. An emphasis on quality is evident in every room throughout home, this one is a MUST SEE!

18. 2017-02-06
    listed $449,900 Active 513-char remark

    Show marketing remark (513 chars)

    ABSOLUTELY GORGEOUS NEW home with stunning designer finishes & tons of natural light! Second floor designed for entertaining w/ open concept living with soaring ceilings, triple crown molding, hardwoods, built-ins & gas fireplace. Gourmet kitchen features custom cabinets in an off-white finish with island, granite, high end appliances and fixtures. Master suite offers 2 walk-in closets & luxurious bath. An emphasis on quality is evident in every room throughout home, this one is a MUST SEE!

19. 2017-01-22
    historical
20. 2016-11-17
    price $464,900
21. 2016-10-04
    listed $474,900 Active

ⓘ 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: $11,479 · $957/mo
• Projected year-2 tax: $11,479 · $957/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 8/10 Severe FEMA zone X (shaded) · 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $59,847
• − Mortgage interest: −$29,066
• − Property taxes: −$11,479
• − Insurance: −$3,392
• − Repairs & maintenance: −$4,788
• − Management: −$4,788
• − Depreciation: −$15,095
• Taxable loss: −$8,762
• Est. tax savings @ 24.0%: +$2,103
• After-tax cash flow: $1,856/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): 47,808
• Household income: $144,911
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 1812.0

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 0.63)
• Race & ethnicity: White 57% Hispanic / Latino 17% Two or more races 13% Asian 11% Black 9%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 3% Romanian 3% Italian 3%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 12% Other Indo-European 4% Chinese 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: ▼ -219.42%
• Current HPI: 159.8157
• Rent YoY: ▼ -0.83%
• 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

+9.3% since first listed

11 events — show timeline

• 2026-06-12 Listing Removed — HARMLS
• 2026-06-12 Listed $518,900 HARMLS
• 2026-05-08 Price Changed $518,900 HARMLS
• 2026-04-01 Listed $545,000 HARMLS
• 2017-05-11 Sold (Public Records) — Public Records
• 2017-05-10 Sold (MLS) — HARMLS
• 2017-04-04 Pending — HARMLS
• 2017-02-06 Listed $449,900 HARMLS
• 2017-01-22 Listing Removed — HARMLS
• 2016-11-17 Price Changed $464,900 HARMLS
• 2016-10-04 Listed $474,900 HARMLS

Property tax history

+2.2%/yr

Latest (2025): $11,479 · -1.6% YoY. Source: county tax records.