5251 Perry St · Houston, TX 77021

$174,999

3 bd · 1.0 ba · 1,625 sqft · SingleFamily public records · 316 Days on market

Built 1951 8,102 sqft lot $108/sqft · 22% below area Est $224k · 22% under

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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 +19.0/30.0
• ARV discount +15.0/15.0
• DSCR +6.0/10.0
• 1% rule +5.2/10.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

JUST LISTED! 5251 Perry St is a fixer upper home situated in South Houston. This home features three bedrooms, and one a half bathrooms. The garage has been converted into the third bedroom. This location is fantastic and has easy access to i-610, I-45, and TX-288. It is being sold As Is but has a lot of potential. Here you will also be incredibly close to so many great amenities and destinations such as NRG Stadium, Hermann Park, and the Medical and Museum District. All of which are about 10 minutes away. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

Key facts

• Close to nrg stadium
• Easy access to i-610
• Easy access to i-45

Tags

• EASY ACCESS TO I-610
• EASY ACCESS TO I-45
• EASY ACCESS TO TX-288
• CLOSE TO NRG STADIUM
• CLOSE TO HERMANN PARK

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $175k.

Deal economics

• At list price, monthly cash flow is $184 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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: 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 rising (+2.2%/yr); 467 active listings in the ZIP; 32 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $1,776/mo this rent would consume 47% of the median local household income ($46k/yr) (locally 2532% 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 $1k of loan paydown is wiped out by about $5k 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 316 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 3% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major 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 $153,999 (12.0% below list)

Questions for the listing agent

1. It's been on market 316 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.02% ✓
• Cap rate: 7.55%
• Cash-on-cash: 4.49%
• DSCR: 1.20
• GRM: 8.2

CMA / ARV

• ARV (median comp): $223,932
• List price: $174,999
• Delta: -21.85%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5251 Dewberry St	0.08mi	3/2.5	1,587 (-2%)	6mo	$239,999	$151	81
5210 Enyart St	0.16mi	3/2.5	1,587 (-2%)	5mo	$239,999	$151	79
5118 Cortelyou Ln	0.60mi	3/2.0	1,607 (-1%)	0mo	$169,900	$106	66
5326 Dewberry St	0.10mi	4/2.0 (+1)	1,836 (+13%)	3mo	$274,888	$150	62
5259 Perry St	0.02mi	4/2.0 (+1)	1,400 (-14%)	7mo	$190,000	$136	61
6419 Madrid St	0.59mi	3/2.5	1,693 (+4%)	3mo	$329,900	$195	57
5002 Elizabeth City St	0.75mi	3/2.5	1,643 (+1%)	2mo	$277,884	$169	55
4902 Winfree Dr	0.72mi	3/2.0	1,511 (-7%)	2mo	$169,500	$112	49
5318 Cortelyou Ln	0.63mi	3/2.0	1,752 (+8%)	5mo	$235,000	$134	49
6718 Crestridge St	0.72mi	3/1.0	1,464 (-10%)	5mo	$194,900	$133	46
5731 Belvedere St	0.70mi	3/2.0	1,793 (+10%)	7mo	$399,995	$223	40
6326 Calhoun Rd	0.74mi	3/2.5	1,453 (-11%)	7mo	$299,000	$206	36

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 · 2.17% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-18,107
• Equity at exit: $26,093

10-year hold

• IRR: -2.0%
• Equity multiple: 0.87×
• Total profit: $-6,519
• Equity at exit: $15,131

Cash invested: $49,000 (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 77021

• Home prices YoY: -23.6%
• Rents YoY: 2.2%
• Active inventory: 467
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,776 high
• Mortgage (P&I): −$918
• Tax from tax record: −$229 /mo · $2,751/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$373
• Net cashflow: $184

Break-even live

Break-even rent $1,544

Max offer price $174,999

Occupancy floor 85%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 32 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5123 Dewberry St Houston, TX	4.0	2.0	1391	$2,400	$1.73	44d	1	0.23mi
5514 Griggs Rd Unit 2187 Houston, TX	2.0	2.0	1322	$1,182	$0.89	3d	1	0.30mi
5514 Griggs Rd Unit 2162 Houston, TX	2.0	2.0	1322	$1,190	$0.90	5d	1	0.30mi
5514 Griggs Rd Unit 422 Houston, TX	2.0	2.0	1322	$1,190	$0.90	8d	1	0.30mi
5514 Griggs Rd Unit 5571 Houston, TX	2.0	2.0	1322	$1,214	$0.92	11d	1	0.30mi
5514 Griggs Rd Houston, TX	2.0	2.0	1322	$1,210	$0.92	44d	1	0.31mi
5514 Griggs Rd Unit 2047 Houston, TX	2.0	2.0	1322	$1,214	$0.92	3d	1	0.35mi
5514 Griggs Rd Unit 2047 Houston, TX	2.0	2.0	1322	$1,225	$0.93	11d	1	0.35mi
5154 Griggs Rd Unit CAVE Houston, TX	2.0	2.0	1322	$1,420	$1.07	3d	1	0.40mi
5116 Griggs Rd Houston, TX	3.0	2.0	1131	$1,316	$1.16	44d	1	0.41mi
5520 Griggs Rd Houston, TX	2.0	2.0	1322	$1,241	$0.94	22d	1	0.41mi
5520 Griggs Rd Houston, TX	2.0	2.0	1322	$1,241	$0.94	44d	1	0.41mi
5835 Southmont St Houston, TX	3.0	2.0	1200	$1,700	$1.42	44d	1	0.47mi
6528 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	44d	1	0.62mi
6532 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	18d	1	0.63mi
5317 Chennault Rd Unit A Houston, TX	3.0	2.5	1608	$1,999	$1.24	44d	1	0.64mi
4907 Culmore Dr Houston, TX	4.0	2.0	1800	$2,700	$1.50	17d	1	0.82mi
4942 Bataan Rd Unit 77033 Houston, TX	4.0	2.0	1350	$1,800	$1.33	44d	1	0.89mi
5101 Martin Luther King Blvd Unit MO54 Houston, TX	2.0	2.0	1322	$1,210	$0.92	12d	1	0.90mi
4907 Marietta Ln Unit 1494902P Houston, TX	3.0	2.0	1593	$3,278	$2.06	14d	1	0.91mi
4705 Idaho St Houston, TX	3.0	2.5	1664	$2,500	$1.50	17d	1	0.94mi
6731 New York St Houston, TX	3.0	3.0	2211	$2,100	$0.95	44d	1	0.95mi
6850 Southbank St Unit A Houston, TX	3.0	3.0	2000	$2,200	$1.10	4d	1	0.96mi
6850 Southbank St Unit A Houston, TX	3.0	3.0	2000	$2,200	$1.10	5d	1	0.96mi
4977 Martin Luther King Blvd Houston, TX	4.0	4.0	1396	$870	$0.62	24d	1	1.02mi
5954 Doolittle Blvd Houston, TX	3.0	2.0	1371	$1,575	$1.15	44d	1	1.09mi
7358 Guadalcanal Rd Houston, TX	3.0	3.0	1768	$2,195	$1.24	44d	1	1.17mi
5813 England St Unit A Houston, TX	3.0	2.5	1473	$2,195	$1.49	4d	1	1.21mi
5314 Longmeadow St Houston, TX	3.0	3.0	1646	$1,900	$1.15	44d	1	1.33mi
6809 Conley St Houston, TX	3.0	4.0	1921	$2,600	$1.35	44d	1	1.35mi
7710 Darnay Dr Houston, TX	3.0	3.0	1635	$2,095	$1.28	44d	1	1.43mi
7032 Conley St Houston, TX	3.0	2.0	1220	$2,850	$2.34	44d	1	1.46mi

Listing history 19 events

1. 2026-06-18
   days on market $174,999 Active 316 DOM
2. 2026-06-17
   days on market $174,999 Active 315 DOM
3. 2026-06-16
   days on market $174,999 Active 314 DOM
4. 2026-06-15
   days on market $174,999 Active 313 DOM
5. 2026-06-13
   days on market $174,999 Active 311 DOM
6. 2026-06-10
   days on market $174,999 Active 307 DOM
7. 2026-06-08
   days on market $174,999 Active 306 DOM
8. 2026-06-07
   days on market $174,999 Active 305 DOM
9. 2026-06-04
   days on market $174,999 Active 302 DOM
10. 2026-06-01
    days on market $174,999 Active 299 DOM
11. 2026-05-31
    days on market $174,999 Active 298 DOM
12. 2026-03-30
    price $174,999 736-char remark

    Show marketing remark (736 chars)

    JUST LISTED! 5251 Perry St is a fixer upper home situated in South Houston. This home features three bedrooms, and one a half bathrooms. The garage has been converted into the third bedroom. This location is fantastic and has easy access to i-610, I-45, and TX-288. It is being sold As Is but has a lot of potential. Here you will also be incredibly close to so many great amenities and destinations such as NRG Stadium, Hermann Park, and the Medical and Museum District. All of which are about 10 minutes away. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

13. 2026-02-18
    price $184,999 736-char remark

    Show marketing remark (736 chars)

    JUST LISTED! 5251 Perry St is a fixer upper home situated in South Houston. This home features three bedrooms, and one a half bathrooms. The garage has been converted into the third bedroom. This location is fantastic and has easy access to i-610, I-45, and TX-288. It is being sold As Is but has a lot of potential. Here you will also be incredibly close to so many great amenities and destinations such as NRG Stadium, Hermann Park, and the Medical and Museum District. All of which are about 10 minutes away. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

14. 2025-08-22
    status Active 736-char remark

    Show marketing remark (736 chars)

    JUST LISTED! 5251 Perry St is a fixer upper home situated in South Houston. This home features three bedrooms, and one a half bathrooms. The garage has been converted into the third bedroom. This location is fantastic and has easy access to i-610, I-45, and TX-288. It is being sold As Is but has a lot of potential. Here you will also be incredibly close to so many great amenities and destinations such as NRG Stadium, Hermann Park, and the Medical and Museum District. All of which are about 10 minutes away. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

15. 2025-08-01
    historical 736-char remark

    Show marketing remark (736 chars)

    JUST LISTED! 5251 Perry St is a fixer upper home situated in South Houston. This home features three bedrooms, and one a half bathrooms. The garage has been converted into the third bedroom. This location is fantastic and has easy access to i-610, I-45, and TX-288. It is being sold As Is but has a lot of potential. Here you will also be incredibly close to so many great amenities and destinations such as NRG Stadium, Hermann Park, and the Medical and Museum District. All of which are about 10 minutes away. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

16. 2025-08-01
    price $189,999 736-char remark

    Show marketing remark (736 chars)

    JUST LISTED! 5251 Perry St is a fixer upper home situated in South Houston. This home features three bedrooms, and one a half bathrooms. The garage has been converted into the third bedroom. This location is fantastic and has easy access to i-610, I-45, and TX-288. It is being sold As Is but has a lot of potential. Here you will also be incredibly close to so many great amenities and destinations such as NRG Stadium, Hermann Park, and the Medical and Museum District. All of which are about 10 minutes away. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

17. 2025-07-16
    listed $169,449 Active 736-char remark

    Show marketing remark (736 chars)

    JUST LISTED! 5251 Perry St is a fixer upper home situated in South Houston. This home features three bedrooms, and one a half bathrooms. The garage has been converted into the third bedroom. This location is fantastic and has easy access to i-610, I-45, and TX-288. It is being sold As Is but has a lot of potential. Here you will also be incredibly close to so many great amenities and destinations such as NRG Stadium, Hermann Park, and the Medical and Museum District. All of which are about 10 minutes away. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

18. 2022-10-24
    soldstatus
19. 1988-01-02
    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: $2,751 · $229/mo
• Projected year-2 tax: $3,202 · $267/mo
• Expected delta: +$452/yr (+$38/mo · 16.4%)

ⓘ 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) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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: $21,317
• − Mortgage interest: −$9,803
• − Property taxes: −$2,751
• − Insurance: −$875
• − Repairs & maintenance: −$1,705
• − Management: −$1,705
• − Depreciation: −$5,091
• Taxable loss: −$613
• Est. tax savings @ 24.0%: +$147
• After-tax cash flow: $2,349/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): 26,153
• Household income: $45,574
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 2532.0

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 0.55)
• Race & ethnicity: Black 62% Hispanic / Latino 22% Two or more races 12% White 10% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 77% English-only · Spanish 19% French/Haitian/Cajun 1% Other Indo-European 1%

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: ▼ -71.22%
• Current HPI: 230.2869
• Rent YoY: ▲ 2.17%
• 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

+3.3% since first listed

8 events — show timeline

• 2026-03-30 Price Changed $174,999 HARMLS
• 2026-02-18 Price Changed $184,999 HARMLS
• 2025-08-22 Relisted — HARMLS
• 2025-08-01 Price Changed $189,999 HARMLS
• 2025-08-01 Listing Removed — HARMLS
• 2025-07-16 Listed $169,449 HARMLS
• 2022-10-24 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+3.8%/yr

Latest (2025): $2,751 · -9.4% YoY. Source: county tax records.