5532 Eskridge St #6 · Houston, TX 77023

$419,000

2 bd · 1.0 ba · 4,860 sqft · MultiFamily public records · 156 Days on market

Built 1960 5,300 sqft lot $86/sqft · 7% below area Est $450k · 7% under

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +10.6/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• 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 MLS

5532 Eskridge is a 6 unit complex. The units have been remodeled. Property in Lawndale-Westside one of the fastest growing and gentrifying markets in Houston. Seller carryback available.

Key facts

• 5,300 sq ft lot
• Parking
• Built 1960

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $419k.

Deal economics

• At list price, monthly cash flow is $2k ($21k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $419k).
• Recommended offer: $369k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 (+2.4%/yr); 166 active listings in the ZIP; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $6,709/mo this rent would consume 157% of the median local household income ($51k/yr) (locally 1311% 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 $3k of loan paydown is wiped out by about $13k 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.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $117k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($369k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 16y 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.
• Current owner paid $93k; list at $419k implies a 350% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.5% of price.
• Climate carrying-cost: 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 $368,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 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 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.60% ✓
• Cap rate: 11.22%
• Cash-on-cash: 17.60%
• DSCR: 1.78
• GRM: 5.2

CMA / ARV

• ARV (median comp): $450,000
• List price: $419,000
• Delta: -6.89%
• Verdict: FAIR
• Comps: 5 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2712 Oakcliff St	0.66mi	2/1.0	4,320 (-11%)	1mo	$450,000	$104	50
2708 Oakcliff St	0.64mi	2/1.0	4,201 (-14%)	1mo	$450,000	$107	46

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 · 2.43% rent growth · sell at horizon

5-year hold

• IRR: 8.4%
• Equity multiple: 1.33×
• Total profit: $38,374
• Equity at exit: $62,474

10-year hold

• IRR: 17.1%
• Equity multiple: 2.37×
• Total profit: $161,108
• Equity at exit: $36,227

Cash invested: $117,320 (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 77023

• Rents YoY: 2.4%
• Active inventory: 166
• Price-to-rent: 31.2×

Monthly cashflow live

• Estimated rent: $6,709 high
• Mortgage (P&I): −$2,197
• Tax from tax record: −$1,208 /mo · $14,494/yr
• Insurance: −$175
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,409
• Net cashflow: $1,720

Break-even live

Break-even rent $4,531

Max offer price $419,000

Occupancy floor 69%

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

Units	Beds	Baths	Est. rent
▸ 6× units	2	1	$6,708
Total (6 units)			$6,709

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: $104,750
• Closing costs: $12,570
• Reserves months: —
• Total cash needed: —

Listing history 50 events

1. 2026-06-18
   days on market $419,000 Active 156 DOM
2. 2026-06-17
   days on market $419,000 Active 155 DOM
3. 2026-06-16
   days on market $419,000 Active 154 DOM
4. 2026-06-15
   days on market $419,000 Active 153 DOM
5. 2026-06-13
   days on market $419,000 Active 151 DOM
6. 2026-06-10
   days on market $419,000 Active 147 DOM
7. 2026-06-08
   days on market $419,000 Active 146 DOM
8. 2026-06-07
   days on market $419,000 Active 145 DOM
9. 2026-06-04
   days on market $419,000 Active 142 DOM
10. 2026-06-01
    days on market $419,000 Active 139 DOM
11. 2026-05-31
    days on market $419,000 Active 138 DOM
12. 2026-01-13
    listed $419,000 Active 187-char remark

    Show marketing remark (187 chars)

    5532 Eskridge is a 6 unit complex. The units have been remodeled. Property in Lawndale-Westside one of the fastest growing and gentrifying markets in Houston. Seller carryback available.

13. 2025-11-30
    historical
14. 2025-10-27
    price $495,900
15. 2025-09-25
    price $522,000
16. 2025-08-29
    price $539,000
17. 2025-07-29
    listed $899
18. 2025-07-22
    historical $899
19. 2025-07-08
    listed $899
20. 2025-07-08
    historical $899
21. 2025-07-01
    listed $899
22. 2025-06-30
    historical $899
23. 2025-06-11
    price $899
24. 2025-05-18
    listed $949
25. 2025-02-08
    historical $949
26. 2025-02-06
    listed $949
27. 2025-02-05
    price $549,000
28. 2025-02-05
    historical $949
29. 2025-01-23
    price $569,000
30. 2025-01-19
    listed $949
31. 2025-01-14
    price $574,000
32. 2025-01-13
    listed $445,000 Active
33. 2024-10-31
    historical
34. 2024-09-19
    listed $594,000 Active
35. 2024-08-31
    historical
36. 2024-06-17
    price $799,000
37. 2024-06-11
    listed $826,000 Active
38. 2023-11-23
    historical $849
39. 2023-11-16
    listed $849
40. 2023-10-23
    historical $849
41. 2023-10-13
    listed $849
42. 2021-08-31
    historical
43. 2021-05-18
    listed $450,000 Active
44. 2017-08-04
    soldstatus Sold
45. 2017-06-20
    status Pending
46. 2017-06-07
    status Active
47. 2017-05-13
    status Pending
48. 2017-05-03
    listed $600,000 Active
49. 2011-12-06
    soldstatus
50. 2011-04-22
    historical

ⓘ 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: $14,494 · $1,208/mo
• Projected year-2 tax: $14,494 · $1,208/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $80,508
• − Mortgage interest: −$23,471
• − Property taxes: −$14,494
• − Insurance: −$2,095
• − Repairs & maintenance: −$6,441
• − Management: −$6,441
• − Depreciation: −$12,189
• Taxable income: $15,378
• Est. tax owed @ 24.0%: −$3,691
• After-tax cash flow: $16,954/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): 24,281
• Household income: $51,430
• Rent vs Own: 51.9% rent · 48.1% own
• Severe rent burden: 1311.0

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: Predominantly Hispanic (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 24% White 16% Black 4% Asian 2%
• Hispanic origin (detail): Mexican 64% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Italian 1% Romanian 1%
• Foreign-born: 23% · Canada, China, Vietnam
• Languages at home: 36% English-only · Spanish 62%

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: ▼ -162.09%
• Current HPI: 284.0587
• Rent YoY: ▲ 2.43%
• 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

+350.1% since first listed

45 events — show timeline

• 2026-01-13 Listed $419,000 HARMLS
• 2025-11-30 Listing Removed — HARMLS
• 2025-10-27 Price Changed $495,900 HARMLS
• 2025-09-25 Price Changed $522,000 HARMLS
• 2025-08-29 Price Changed $539,000 HARMLS
• 2025-07-29 Listed for Rent $899 HARMLS
• 2025-07-22 Rental Removed $899 HARMLS
• 2025-07-08 Listed for Rent $899 HARMLS
• 2025-07-08 Rental Removed $899 SHOWMOJO
• 2025-07-01 Listed for Rent $899 SHOWMOJO
• 2025-06-30 Rental Removed $899 HARMLS
• 2025-06-11 Price Changed $899 HARMLS
• 2025-05-18 Listed for Rent $949 HARMLS
• 2025-02-08 Rental Removed $949 SHOWMOJO
• 2025-02-06 Listed for Rent $949 SHOWMOJO
• 2025-02-05 Price Changed $549,000 HARMLS
• 2025-02-05 Rental Removed $949 HARMLS
• 2025-01-23 Price Changed $569,000 HARMLS
• 2025-01-19 Listed for Rent $949 HARMLS
• 2025-01-14 Price Changed $574,000 HARMLS
• 2025-01-13 Listed $445,000 HARMLS
• 2024-10-31 Listing Removed — HARMLS
• 2024-09-19 Listed $594,000 HARMLS
• 2024-08-31 Listing Removed — HARMLS
• 2024-06-17 Price Changed $799,000 HARMLS
• 2024-06-11 Listed $826,000 HARMLS
• 2023-11-23 Rental Removed $849 HARMLS
• 2023-11-16 Listed for Rent $849 HARMLS
• 2023-10-23 Rental Removed $849 HARMLS
• 2023-10-13 Listed for Rent $849 HARMLS
• 2021-08-31 Listing Removed — HARMLS
• 2021-05-18 Listed $450,000 HARMLS
• 2017-08-04 Sold (MLS) — HARMLS
• 2017-06-20 Pending — HARMLS
• 2017-06-07 Relisted — HARMLS
• 2017-05-13 Pending — HARMLS
• 2017-05-03 Listed $600,000 HARMLS
• 2011-12-06 Sold (Public Records) — Public Records
• 2011-04-22 Listing Removed — HARMLS
• 2010-12-21 Listed $299,000 HARMLS
• 2010-09-01 Listing Removed — HARMLS
• 2010-05-10 Listed $349,000 HARMLS
• 2006-01-03 Sold (Public Records) — Public Records
• 1993-11-01 Sold (Public Records) $93,100 Public Records
• 1993-10-29 Sold (Public Records) — Public Records

Property tax history

+17.4%/yr

Latest (2025): $14,494 · +3.8% YoY. Source: county tax records.