10811 Richmond Ave #38 · Houston, TX 77042

$99,800

1 bd · 1.0 ba · 825 sqft · Condo public records · 54 Days on market

Built 1980 $121/sqft · 13% below area Est $115k · 13% under $271/mo HOA · 23% 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 +13.4/15.0
• Cash flow +8.2/30.0
• 1% rule +6.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Schools +2.1/10.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this stunning home designed with modern aesthetics and comfort. As you enter, you're greeted by a spacious living room featuring a stylish tile surfaced fireplace and sliding door to a greenery patio; The kitchen is a chef's delight, sleek cabinetry, ample counter space, stainless steel vent hood and the open layout is perfect for both cooking and entertaining. Adjacent to the kitchen, the dining area provides a seamless flow for meals and gathering. Unit comes with assigned, covered and attached carport parking. Additional storage room by parking area. Well-kept pools with BBQ pits , tennis courts and walking trail. Superb location. Easy access to public transportation. Minutes away from the new Camden park and major retail shops. New AC condenser in May 2025. Water and sewer included in monthly HOA. Low HOA! Washer, dryer and refrigerator included.

Key facts

• Ample counter space
• Greenery patio
• Sleek cabinetry

Tags

• TILE SURFACED FIREPLACE
• GREENERY PATIO
• SLEEK CABINETRY
• AMPLE COUNTER SPACE
• STAINLESS STEEL VENT HOOD
• OPEN LAYOUT

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $-95 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $83k (16.7% below list).
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $83k (16.7% below list) — sets the bar for cash-flow.
• Cap rate 5.2% 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: crime F.
• Alief ISD (urban): math 23% / reading 28% proficiency, ranked #717 of 826 in TX (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Outley El (math 26% / reading 36%, grade F, #2,429 of 4,322 statewide, top 57%, 829 students, 84% FRL); O'Donnell Middle (math 32% / reading 33%, grade F, #947 of 1,662 statewide, top 58%, 1,230 students, 89% FRL); Alief Isd J J A E P (13 students, 77% FRL).
• Market conditions: Rents soft (-2.3%/yr); 249 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $690 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 54 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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: HOA is 23% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $83,099 (16.7% 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 54 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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. 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?
9. 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.
10. 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.
11. 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: 1.19% ✓
• Cap rate: 5.16%
• Cash-on-cash: -4.06%
• DSCR: 0.82
• GRM: 7.0

CMA / ARV

• ARV (median comp): $114,768
• List price: $99,800
• Delta: -13.04%
• 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: -28.3%
• Equity multiple: 0.09×
• Total profit: $-25,436
• Equity at exit: $14,881

10-year hold

• IRR: -60.0%
• Equity multiple: -0.52×
• Total profit: $-42,391
• Equity at exit: $8,629

Cash invested: $27,944 (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 77042

• Rents YoY: -2.3%
• Active inventory: 249
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,184 high
• Mortgage (P&I): −$523
• Tax from tax record: −$194 /mo · $2,328/yr
• Insurance: −$42
• HOA: −$271
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $-95

Break-even live

Break-even rent $1,304

Max offer price $83,099

Occupancy floor —

Sensitivity live

Price	-10% $-38	-5% $-66	+0% $-95	+5% $-123	+10% $-151
Rent	-10% $-188	-5% $-141	+0% $-95	+5% $-48	+10% $-1
Rate	-1.0pp $-44	-0.5pp $-69	base $-95	+0.5pp $-120	+1.0pp $-147

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: $24,950
• Closing costs: $2,994
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10777 Richmond Ave Houston, TX	1.0	1.0	625	$1,260	$2.02	14d	1	0.10mi
10777 Richmond Ave Houston, TX	1.0–2.0	1.0–2.0	975	$1,249	$1.28	0d	20	0.10mi
10777 Richmond Ave Unit 10814 Houston, TX	2.0	2.0	1117	$1,672	$1.50	14d	1	0.12mi
10777 Richmond Ave Unit 10798 Houston, TX	1.0	1.0	625	$1,311	$2.10	14d	1	0.12mi
10777 Richmond Ave Unit 10798 Houston, TX	1.0	1.0	625	$1,306	$2.09	14d	1	0.12mi
10777 Richmond Ave Unit 2174 Houston, TX	2.0	2.0	1117	$1,621	$1.45	14d	1	0.12mi
3411 Walnut Bend Ln Houston, TX	1.0–3.0	1.0–2.0	962	$965	$1.00	1d	13	0.13mi
10881 Richmond Ave Unit 1004 Houston, TX	2.0	2.0	885	$1,170	$1.32	26d	1	0.20mi
10881 Richmond Ave Unit 212 Houston, TX	1.0	1.0	570	$935	$1.64	45d	1	0.20mi
10881 Richmond Ave Unit 1209 Houston, TX	2.0	2.0	885	$1,130	$1.28	26d	1	0.20mi
10881 Richmond Ave Unit 702 Houston, TX	2.0	1.0	804	$1,080	$1.34	26d	1	0.20mi
10881 Richmond Ave Unit 206 Houston, TX	1.0	1.0	570	$900	$1.58	45d	1	0.20mi
3035 Walnut Bend Ln Houston, TX	2.0	2.0	1075	$1,100	$1.02	20d	1	0.22mi
10887 Richmond Ave Houston, TX	2.0	2.0	885	$1,125	$1.27	45d	1	0.22mi
10887 Richmond Ave Houston, TX	1.0	1.0	570	$917	$1.61	26d	1	0.22mi
10887 Richmond Ave Houston, TX	2.0	2.0	885	$1,125	$1.27	24d	1	0.22mi
10751 Meadowglen Ln Houston, TX	2.0	1.0–2.0	763	$1,229	$1.61	0d	19	0.24mi
3354 Rogerdale Rd Houston, TX	1.0	1.0	798	$1,260	$1.58	17d	1	0.31mi
3354 Rogerdale Rd Unit 2165 Houston, TX	2.0	2.0	1124	$1,524	$1.36	1d	1	0.31mi
3354 Rogerdale Rd Unit 3405 Houston, TX	1.0	1.0	692	$1,029	$1.49	12d	1	0.31mi
3354 Rogerdale Rd Unit 3375 Houston, TX	1.0	1.0	798	$1,295	$1.62	14d	1	0.31mi
3354 Rogerdale Rd Unit 325 Houston, TX	1.0	1.0	692	$979	$1.41	1d	1	0.31mi
3354 Rogerdale Rd Apt 321 Houston, TX	1.0	1.0	692	$990	$1.43	9d	1	0.31mi
3354 Rogerdale Rd Unit 2148 Houston, TX	2.0	2.0	1124	$1,565	$1.39	1d	1	0.31mi
3354 Rogerdale Rd Unit 422 Houston, TX	2.0	2.0	1124	$1,540	$1.37	9d	1	0.31mi
3354 Rogerdale Rd Unit 3411 Houston, TX	2.0	2.0	1016	$1,490	$1.47	45d	1	0.31mi
3354 Rogerdale Rd Unit 3391 Houston, TX	2.0	2.0	1124	$1,564	$1.39	12d	1	0.31mi
10615 Meadowglen Ln Unit 2162 Houston, TX	2.0	2.0	897	$1,140	$1.27	7d	1	0.31mi
10615 Meadowglen Ln Unit 10672 Houston, TX	2.0	2.0	897	$1,124	$1.25	1d	1	0.31mi
10615 Meadowglen Ln Unit 422 Houston, TX	2.0	2.0	897	$1,140	$1.27	9d	1	0.31mi
10851 Meadowglen Ln Houston, TX	2.0	2.0	1080	$1,835	$1.70	14d	1	0.33mi
10621 Meadowglen Ln Houston, TX	2.0	2.0	897	$1,075	$1.20	45d	1	0.37mi
10621 Meadowglen Ln Houston, TX	1.0	1.0	800	$925	$1.16	26d	1	0.37mi
10621 Meadowglen Ln Houston, TX	2.0	2.0	897	$1,075	$1.20	24d	1	0.37mi
10901 Meadowglen Ln Unit 202A Houston, TX	1.0	1.0	767	$850	$1.11	17d	1	0.38mi
10901 Meadowglen Ln Unit 335B Houston, TX	2.0	2.0	976	$1,180	$1.21	17d	1	0.38mi
10901 Meadowglen Ln Unit 163A Houston, TX	1.0	1.0	531	$749	$1.41	17d	1	0.38mi
10901 Meadowglen Ln Unit 236A Houston, TX	1.0	1.0	661	$874	$1.32	26d	1	0.38mi
10901 Meadowglen Ln Unit 229 Houston, TX	1.0	1.5	661	$825	$1.25	24d	1	0.38mi
10901 Meadowglen Ln Apt 311 Houston, TX	1.0	1.0	531	$649	$1.22	1d	1	0.38mi

HOA detail condo

• Monthly dues: $271 · $3,252/yr
• Likely covers: watersewerpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $99,800 Active 54 DOM
2. 2026-06-18
   days on market $99,800 Active 51 DOM
3. 2026-06-17
   days on market $99,800 Active 50 DOM
4. 2026-06-16
   days on market $99,800 Active 49 DOM
5. 2026-06-15
   days on market $99,800 Active 48 DOM
6. 2026-06-13
   days on market $99,800 Active 46 DOM
7. 2026-06-09
   days on market $99,800 Active 42 DOM
8. 2026-06-08
   days on market $99,800 Active 41 DOM
9. 2026-06-07
   days on market $99,800 Active 40 DOM
10. 2026-06-04
    days on market $99,800 Active 37 DOM
11. 2026-06-03
    days on market $99,800 Active 36 DOM
12. 2026-06-02
    days on market $99,800 Active 35 DOM
13. 2026-06-01
    days on market $99,800 Active 34 DOM
14. 2026-05-31
    days on market $99,800 Active 33 DOM
15. 2026-05-05
    status Active 873-char remark

    Show marketing remark (873 chars)

    Welcome to this stunning home designed with modern aesthetics and comfort. As you enter, you're greeted by a spacious living room featuring a stylish tile surfaced fireplace and sliding door to a greenery patio; The kitchen is a chef's delight, sleek cabinetry, ample counter space, stainless steel vent hood and the open layout is perfect for both cooking and entertaining. Adjacent to the kitchen, the dining area provides a seamless flow for meals and gathering. Unit comes with assigned, covered and attached carport parking. Additional storage room by parking area. Well-kept pools with BBQ pits , tennis courts and walking trail. Superb location. Easy access to public transportation. Minutes away from the new Camden park and major retail shops. New AC condenser in May 2025. Water and sewer included in monthly HOA. Low HOA! Washer, dryer and refrigerator included.

16. 2026-04-10
    historical 873-char remark

    Show marketing remark (873 chars)

    Welcome to this stunning home designed with modern aesthetics and comfort. As you enter, you're greeted by a spacious living room featuring a stylish tile surfaced fireplace and sliding door to a greenery patio; The kitchen is a chef's delight, sleek cabinetry, ample counter space, stainless steel vent hood and the open layout is perfect for both cooking and entertaining. Adjacent to the kitchen, the dining area provides a seamless flow for meals and gathering. Unit comes with assigned, covered and attached carport parking. Additional storage room by parking area. Well-kept pools with BBQ pits , tennis courts and walking trail. Superb location. Easy access to public transportation. Minutes away from the new Camden park and major retail shops. New AC condenser in May 2025. Water and sewer included in monthly HOA. Low HOA! Washer, dryer and refrigerator included.

17. 2026-04-04
    listed $99,800 Active 873-char remark

    Show marketing remark (873 chars)

    Welcome to this stunning home designed with modern aesthetics and comfort. As you enter, you're greeted by a spacious living room featuring a stylish tile surfaced fireplace and sliding door to a greenery patio; The kitchen is a chef's delight, sleek cabinetry, ample counter space, stainless steel vent hood and the open layout is perfect for both cooking and entertaining. Adjacent to the kitchen, the dining area provides a seamless flow for meals and gathering. Unit comes with assigned, covered and attached carport parking. Additional storage room by parking area. Well-kept pools with BBQ pits , tennis courts and walking trail. Superb location. Easy access to public transportation. Minutes away from the new Camden park and major retail shops. New AC condenser in May 2025. Water and sewer included in monthly HOA. Low HOA! Washer, dryer and refrigerator included.

18. 2025-08-31
    historical
19. 2025-08-02
    price $139,000
20. 2025-08-01
    listed $13,900 Active
21. 2021-09-03
    soldstatus
22. 1999-10-04
    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: $2,328 · $194/mo
• Projected year-2 tax: $2,328 · $194/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 23 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: $14,209
• − Mortgage interest: −$5,590
• − Property taxes: −$2,328
• − Insurance: −$499
• − Repairs & maintenance: −$1,137
• − Management: −$1,137
• − HOA: −$3,252
• − Depreciation: −$2,903
• Taxable loss: −$2,637
• Est. tax savings @ 24.0%: +$633
• After-tax cash flow: $-502/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: Alief ISD
• NCES district ID: 4807830
• Math proficiency: 23% ▼ -19.00%
• Reading proficiency: 28% ▼ -8.00%
• Median HH income: $37,775
• Composite: 21.29/100
• National rank: #8391
• State rank: #717 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): 38,721
• Household income: $59,097
• Rent vs Own: 73.7% rent · 26.3% own
• Severe rent burden: 3994.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Hispanic / Latino 36% White 31% Black 24% Two or more races 18% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 14% Cuban 4%
• Common ancestry: Romanian 1% Serbian 1% Italian 1%
• Foreign-born: 35% · Canada, Jamaica, China
• Languages at home: 55% English-only · Spanish 31% Other Indo-European 2% Russian/Polish/Slavic 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: ▼ -234.36%
• Current HPI: 215.9671
• Rent YoY: ▼ -2.30%
• 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

+618.0% since first listed

8 events — show timeline

• 2026-05-05 Relisted — HARMLS
• 2026-04-10 Listing Removed — HARMLS
• 2026-04-04 Listed $99,800 HARMLS
• 2025-08-31 Listing Removed — HARMLS
• 2025-08-02 Price Changed $139,000 HARMLS
• 2025-08-01 Listed $13,900 HARMLS
• 2021-09-03 Sold (Public Records) — Public Records
• 1999-10-04 Sold (Public Records) — Public Records

Property tax history

+6.2%/yr

Latest (2025): $2,328 · -2.5% YoY. Source: county tax records.