6718 Madrid St · Houston, TX 77021

$189,900

3 bd · 1.5 ba · 1,923 sqft · SingleFamily public records · 124 Days on market

Built 1955 5,000 sqft lot $99/sqft · 42% below area Est $326k · 42% under

---

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 +22.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.2/10.0
• 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

Welcome to 6718 Madrid, a charming single-story home located in a growing area with no HOA restrictions. This fully fenced property with wrought iron detailing offers added security and curb appeal. Originally designed as a 3-bedroom home, a thoughtfully added fourth bedroom (not reflected in tax square footage) provides extra flexibility for a growing household, home office, or guests. Inside, enjoy a spacious split floor plan with no carpet throughout for easy maintenance. The kitchen features stainless steel refrigerator and stove/range, ample cabinet storage, and generous counter space, while a versatile flex room in the back can serve as a game room, office, or additional living area. The large backyard is perfect for kids, pets, or entertaining, and the convenient location near 610, major freeways, the Medical Center, and the University of Houston makes commuting simple. Ideal as a primary residence or investment opportunity.

Key facts

• 5,000 sq ft lot
• Built 1955
• Listed 124 days

Tags

• FULLY FENCED PROPERTY
• WROUGHT IRON DETAILING
• SPACIOUS SPLIT FLOOR PLAN
• STAINLESS STEEL REFRIGERATOR
• AMPLE CABINET STORAGE
• GENEROUS COUNTER SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $167k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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: 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $2,123/mo this rent would consume 56% 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 $6k 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 124 days — a 12% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $10k (5%) 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; built in 1955 — 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 6→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $167,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 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 1955 — 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. 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 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: 1.12% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.48%
• DSCR: 1.33
• GRM: 7.5

CMA / ARV

• ARV (median comp): $325,690
• List price: $189,900
• Delta: -41.69%
• 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
6434 New York St	0.35mi	4/3.5 (+1)	1,953 (+2%)	5mo	$364,000	$186	64
4336 Cosby St	0.48mi	3/3.5	1,871 (-3%)	2mo	$342,999	$183	63
6419 Madrid St	0.29mi	3/2.5	1,693 (-12%)	3mo	$329,900	$195	60
6121 Grace Ln	0.52mi	4/3.0 (+1)	2,033 (+6%)	2mo	$210,000	$103	54
4611 Idaho St	0.25mi	4/2.0 (+1)	1,640 (-15%)	4mo	$257,000	$157	54
6401 Goforth St	0.56mi	3/2.5	1,767 (-8%)	4mo	$339,000	$192	53
6725 Saint Augustine St	0.67mi	3/3.5	2,050 (+7%)	1mo	$299,900	$146	49
4019 Ward St	0.66mi	3/3.5	2,050 (+7%)	4mo	$315,000	$154	47
7131 Eastwood St Unit C	0.57mi	3/2.5	1,700 (-12%)	6mo	$320,000	$188	45
7117 England St Unit C	0.69mi	3/2.5	1,700 (-12%)	1mo	$340,000	$200	44
7117 England St Unit A	0.69mi	3/2.5	1,700 (-12%)	5mo	$359,900	$212	40
7117 England St Unit B	0.69mi	3/2.5	1,700 (-12%)	5mo	$359,900	$212	40

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: -8.0%
• Equity multiple: 0.71×
• Total profit: $-15,566
• Equity at exit: $28,315

10-year hold

• IRR: 0.4%
• Equity multiple: 1.03×
• Total profit: $1,453
• Equity at exit: $16,419

Cash invested: $53,172 (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: 7.5×

Monthly cashflow live

• Estimated rent: $2,123 high
• Mortgage (P&I): −$996
• Tax from tax record: −$271 /mo · $3,251/yr
• Insurance: −$79
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$446
• Net cashflow: $265

Break-even live

Break-even rent $1,788

Max offer price $189,900

Occupancy floor 83%

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6532 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	17d	1	0.18mi
6528 Weston St Unit A Houston, TX	3.0	3.0	1484	$2,200	$1.48	43d	1	0.19mi
4705 Idaho St Houston, TX	3.0	2.5	1664	$2,500	$1.50	16d	1	0.20mi
6731 New York St Houston, TX	3.0	3.0	2211	$2,100	$0.95	43d	1	0.22mi
4942 Bataan Rd Unit 77033 Houston, TX	4.0	2.0	1350	$1,800	$1.33	43d	1	0.49mi
6809 Conley St Houston, TX	3.0	4.0	1921	$2,600	$1.35	43d	1	0.63mi
5123 Dewberry St Houston, TX	4.0	2.0	1391	$2,400	$1.73	43d	1	0.63mi
5317 Chennault Rd Unit A Houston, TX	3.0	2.5	1608	$1,999	$1.24	43d	1	0.68mi
7358 Guadalcanal Rd Houston, TX	3.0	3.0	1768	$2,195	$1.24	43d	1	0.73mi
7339 Krueger Rd Houston, TX	3.0	2.0	2440	$1,900	$0.78	43d	1	0.85mi
7321 Conley St Unit A Houston, TX	3.0	2.5	1869	$2,025	$1.08	20d	1	0.89mi
7321 Conley St Unit B Houston, TX	3.0	2.0	1501	$2,025	$1.35	20d	1	0.89mi
5154 Griggs Rd Unit CAVE Houston, TX	2.0	2.0	1322	$1,420	$1.07	2d	1	0.91mi
5813 England St Unit A Houston, TX	3.0	2.5	1473	$2,195	$1.49	3d	1	0.95mi
4135 DuPont St Houston, TX	3.0	4.0	2395	$2,499	$1.04	43d	1	0.95mi
4530 Mayflower St Houston, TX	3.0	2.0	1302	$1,800	$1.38	43d	1	1.02mi
7710 Darnay Dr Houston, TX	3.0	3.0	1635	$2,095	$1.28	43d	1	1.04mi
5514 Griggs Rd Unit 2162 Houston, TX	2.0	2.0	1322	$1,190	$0.90	5d	1	1.05mi
5514 Griggs Rd Unit 2187 Houston, TX	2.0	2.0	1322	$1,182	$0.89	2d	1	1.05mi
5514 Griggs Rd Unit 5571 Houston, TX	2.0	2.0	1322	$1,214	$0.92	10d	1	1.05mi
5514 Griggs Rd Unit 422 Houston, TX	2.0	2.0	1322	$1,190	$0.90	7d	1	1.05mi
4907 Culmore Dr Houston, TX	4.0	2.0	1800	$2,700	$1.50	16d	1	1.05mi
5514 Griggs Rd Houston, TX	2.0	2.0	1322	$1,210	$0.92	43d	1	1.06mi
5514 Griggs Rd Unit 2047 Houston, TX	2.0	2.0	1322	$1,225	$0.93	10d	1	1.09mi
5514 Griggs Rd Unit 2047 Houston, TX	2.0	2.0	1322	$1,214	$0.92	2d	1	1.09mi
3731 Alsace St Unit 1560804P Houston, TX	3.0	2.0	2002	$3,387	$1.69	2d	1	1.10mi
5201 Kenilwood Dr Unit B Houston, TX	3.0	2.0	2442	$1,725	$0.71	13d	1	1.12mi
3846 Seabrook St Houston, TX	3.0	3.5	1833	$2,300	$1.25	43d	1	1.13mi
5314 Longmeadow St Houston, TX	3.0	3.0	1646	$1,900	$1.15	43d	1	1.14mi
5520 Griggs Rd Houston, TX	2.0	2.0	1322	$1,241	$0.94	21d	1	1.15mi
5520 Griggs Rd Houston, TX	2.0	2.0	1322	$1,241	$0.94	43d	1	1.15mi
6850 Southbank St Unit A Houston, TX	3.0	3.0	2000	$2,200	$1.10	4d	1	1.18mi
6850 Southbank St Unit A Houston, TX	3.0	3.0	2000	$2,200	$1.10	3d	1	1.18mi
4613 Bricker St Unit B Houston, TX	3.0	2.5	1600	$2,300	$1.44	43d	1	1.23mi
4609 Bricker St Unit ABC Houston, TX	3.0	2.5	1375	$3,500	$2.55	11d	1	1.23mi
4609 Bricker St Unit B Houston, TX	3.0	2.5	1300	$3,500	$2.69	12d	1	1.23mi
4907 Marietta Ln Unit 1494902P Houston, TX	3.0	2.0	1593	$3,278	$2.06	13d	1	1.23mi
3732 Seabrook St Houston, TX	3.0	2.5	1727	$2,350	$1.36	24d	1	1.24mi
8107 Calhoun Rd Houston, TX	3.0	2.5	1304	$2,250	$1.73	24d	1	1.27mi
3655 Seabrook St Unit 6 Houston, TX	2.0	1.0	1600	$1,000	$0.62	43d	1	1.28mi

Listing history 22 events

1. 2026-06-18
   days on market $189,900 Active 124 DOM
2. 2026-06-17
   days on market $189,900 Active 123 DOM
3. 2026-06-16
   days on market $189,900 Active 122 DOM
4. 2026-06-15
   days on market $189,900 Active 121 DOM
5. 2026-06-13
   days on market $189,900 Active 119 DOM
6. 2026-06-10
   days on market $189,900 Active 115 DOM
7. 2026-06-08
   days on market $189,900 Active 114 DOM
8. 2026-06-07
   days on market $189,900 Active 113 DOM
9. 2026-06-04
   days on market $189,900 Active 110 DOM
10. 2026-06-01
    days on market $189,900 Active 107 DOM
11. 2026-05-31
    days on market $189,900 Active 106 DOM
12. 2026-05-05
    price $189,900 945-char remark

    Show marketing remark (945 chars)

    Welcome to 6718 Madrid, a charming single-story home located in a growing area with no HOA restrictions. This fully fenced property with wrought iron detailing offers added security and curb appeal. Originally designed as a 3-bedroom home, a thoughtfully added fourth bedroom (not reflected in tax square footage) provides extra flexibility for a growing household, home office, or guests. Inside, enjoy a spacious split floor plan with no carpet throughout for easy maintenance. The kitchen features stainless steel refrigerator and stove/range, ample cabinet storage, and generous counter space, while a versatile flex room in the back can serve as a game room, office, or additional living area. The large backyard is perfect for kids, pets, or entertaining, and the convenient location near 610, major freeways, the Medical Center, and the University of Houston makes commuting simple. Ideal as a primary residence or investment opportunity.

13. 2026-02-14
    listed $199,900 Active 945-char remark

    Show marketing remark (945 chars)

    Welcome to 6718 Madrid, a charming single-story home located in a growing area with no HOA restrictions. This fully fenced property with wrought iron detailing offers added security and curb appeal. Originally designed as a 3-bedroom home, a thoughtfully added fourth bedroom (not reflected in tax square footage) provides extra flexibility for a growing household, home office, or guests. Inside, enjoy a spacious split floor plan with no carpet throughout for easy maintenance. The kitchen features stainless steel refrigerator and stove/range, ample cabinet storage, and generous counter space, while a versatile flex room in the back can serve as a game room, office, or additional living area. The large backyard is perfect for kids, pets, or entertaining, and the convenient location near 610, major freeways, the Medical Center, and the University of Houston makes commuting simple. Ideal as a primary residence or investment opportunity.

14. 2017-06-30
    soldstatus Sold 244-char remark

    Show marketing remark (244 chars)

    Single story home with a wrought iron Fence around it. House has three bedrooms originally but there has been an addition which does not reflect in the square footage. Close to the freeway and the medical center with great upside and potential.

15. 2017-06-16
    status Pending 244-char remark

    Show marketing remark (244 chars)

    Single story home with a wrought iron Fence around it. House has three bedrooms originally but there has been an addition which does not reflect in the square footage. Close to the freeway and the medical center with great upside and potential.

16. 2017-05-26
    listed $72,000 Active 244-char remark

    Show marketing remark (244 chars)

    Single story home with a wrought iron Fence around it. House has three bedrooms originally but there has been an addition which does not reflect in the square footage. Close to the freeway and the medical center with great upside and potential.

17. 2016-12-20
    soldstatus
18. 2016-07-19
    status Pending
19. 2016-07-09
    status Option Pending
20. 2016-07-09
    historical
21. 2016-06-28
    price $61,750
22. 2016-05-31
    listed $70,000 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: $3,251 · $271/mo
• Projected year-2 tax: $3,475 · $290/mo
• Expected delta: +$224/yr (+$19/mo · 6.9%)

ⓘ 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 6 d/yr ≥109°F today · 20 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: $25,478
• − Mortgage interest: −$10,637
• − Property taxes: −$3,251
• − Insurance: −$1,747
• − Repairs & maintenance: −$2,038
• − Management: −$2,038
• − Depreciation: −$5,524
• Taxable income: $241
• Est. tax owed @ 24.0%: −$58
• After-tax cash flow: $3,121/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

+171.3% since first listed

11 events — show timeline

• 2026-05-05 Price Changed $189,900 HARMLS
• 2026-02-14 Listed $199,900 HARMLS
• 2017-06-30 Sold (MLS) — HARMLS
• 2017-06-16 Pending — HARMLS
• 2017-05-26 Listed $72,000 HARMLS
• 2016-12-20 Sold (Public Records) — Public Records
• 2016-07-19 Pending — HARMLS
• 2016-07-09 Pending — HARMLS
• 2016-07-09 Listing Removed — HARMLS
• 2016-06-28 Price Changed $61,750 HARMLS
• 2016-05-31 Listed $70,000 HARMLS

Property tax history

+9.9%/yr

Latest (2025): $3,251 · +2.8% YoY. Source: county tax records.