5155 Balkin St · Houston, TX 77021

$110,000

2 bd · 1.0 ba · 947 sqft · SingleFamily public records · 125 Days on market

Built 1955 6,599 sqft lot $116/sqft · 32% below area Est $162k · 32% 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 +16.5/30.0
• ARV discount +15.0/15.0
• 1% rule +5.3/10.0
• DSCR +5.1/10.0
• 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

Selling: As Is. This property can be restored or torn down to build your dream home. Homebuyers looking to build instant equity, along with an investor or handyman, this corner lot home is for you.

Key facts

• 6,599 sq ft lot
• Garage
• Built 1955

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $-1 ($-12/yr) — negative.
• To cash-flow at today's rent, offer at most $110k (0.2% below list).
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 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 125 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

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 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,800 (12.0% 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 125 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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 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: 1.03% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.55%
• DSCR: 1.11
• GRM: 8.1

CMA / ARV

• ARV (median comp): $162,310
• List price: $110,000
• Delta: -32.23%
• 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
6418 Calhoun Rd	0.56mi	2/1.5	945 (-0%)	2mo	$190,000	$201	70
5010 Gren St	0.31mi	3/1.0 (+1)	1,017 (+7%)	9mo	$135,000	$133	61
5018 Balkin St	0.21mi	3/2.0 (+1)	1,048 (+11%)	9mo	$189,000	$180	56
5303 Dewberry St	0.29mi	3/1.0 (+1)	1,050 (+11%)	11mo	$130,000	$124	54
4613 Kingsbury St	0.56mi	2/1.0	1,036 (+9%)	6mo	$105,000	$101	54
5942 Southridge St	0.68mi	3/1.0 (+1)	1,039 (+10%)	9mo	$105,000	$101	40
4526 Kingsbury St St	0.65mi	3/1.0 (+1)	1,049 (+11%)	9mo	$119,000	$113	39
6427 Paris St	0.59mi	3/2.0 (+1)	1,089 (+15%)	0mo	$205,000	$188	38
5106 Malmedy Rd	0.54mi	3/1.5 (+1)	1,071 (+13%)	9mo	$159,999	$149	38
6320 Paris St	0.61mi	3/2.0 (+1)	1,089 (+15%)	0mo	$230,000	$211	37
4523 Keystone St	0.65mi	3/2.0 (+1)	1,073 (+13%)	4mo	$195,000	$182	35
5034 Rapido Rd	0.69mi	3/1.0 (+1)	1,058 (+12%)	12mo	$109,000	$103	33

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: -17.4%
• Equity multiple: 0.39×
• Total profit: $-18,729
• Equity at exit: $16,401

10-year hold

• IRR: -11.1%
• Equity multiple: 0.36×
• Total profit: $-19,776
• Equity at exit: $9,511

Cash invested: $30,800 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,137 high
• Mortgage (P&I): −$577
• Tax from tax record: −$210 /mo · $2,519/yr
• Insurance: −$46
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $-1

Break-even live

Break-even rent $1,138

Max offer price $109,819

Occupancy floor 95%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6030 Schroeder Rd Houston, TX	1.0	1.0	740	$850	$1.15	44d	1	0.32mi
5918 Schroeder Rd Houston, TX	1.0–2.0	1.0	850	$1,000	$1.18	44d	1	0.43mi
5924 Schroeder Rd Houston, TX	1.0	1.0	800	$795	$0.99	24d	1	0.44mi
5924 Schroeder Rd Houston, TX	2.0	1.0	900	$895	$0.99	22d	1	0.44mi
5924 Schroeder Rd Houston, TX	2.0	1.0	900	$895	$0.99	44d	1	0.44mi
5537 Bataan Rd Houston, TX	2.0	1.0	880	$1,300	$1.48	44d	1	0.51mi
5514 Griggs Rd Unit 324 Houston, TX	1.0	1.0	1003	$965	$0.96	8d	1	0.55mi
5514 Griggs Rd Unit 5565 Houston, TX	1.0	1.0	1003	$935	$0.93	44d	1	0.55mi
5514 Griggs Rd Unit 5535 Houston, TX	1.0	1.0	1003	$1,004	$1.00	11d	1	0.55mi
5514 Griggs Rd Unit 1165 Houston, TX	1.0	1.0	1003	$962	$0.96	3d	1	0.55mi
5514 Griggs Rd Unit 5535 Houston, TX	1.0	1.0	1003	$940	$0.94	14d	1	0.55mi
5514 Griggs Rd Unit 1162 Houston, TX	1.0	1.0	1003	$965	$0.96	5d	1	0.55mi
5514 Griggs Rd Houston, TX	1.0	1.0	1003	$935	$0.93	14d	1	0.56mi
5514 Griggs Rd Unit 1047 Houston, TX	1.0	1.0	1003	$1,005	$1.00	11d	1	0.60mi
5610 Royal Palms St Houston, TX	1.0	1.0	560	$875	$1.56	44d	1	0.64mi
5610 Royal Palms St Houston, TX	2.0	1.0	900	$950	$1.06	24d	1	0.64mi
5520 Griggs Rd Houston, TX	1.0	1.0	1003	$1,030	$1.03	24d	1	0.66mi
5600 Royal Palms St Unit 22 Houston, TX	1.0	1.0	560	$875	$1.56	44d	1	0.69mi
6420 Conley St Unit 7 Houston, TX	2.0	1.0	652	$975	$1.50	44d	1	1.04mi
4722 Old Spanish Trl Unit B301 Houston, TX	2.0	2.0	1027	$1,695	$1.65	44d	1	1.06mi
4977 Martin Luther King Blvd Houston, TX	1.0	1.0	630	$1,630	$2.59	44d	1	1.12mi
4977 Martin Luther King Blvd Houston, TX	1.0	1.0	630	$1,630	$2.59	22d	1	1.12mi
4007 Corder St Houston, TX	2.0	1.0	814	$885	$1.09	24d	1	1.35mi
5314 Northridge Dr Unit A Houston, TX	3.0	2.0	872	$1,185	$1.36	44d	1	1.48mi
7818 Calhoun Rd Unit 8 Houston, TX	2.0	1.0	800	$1,200	$1.50	44d	1	1.49mi

Listing history 13 events

1. 2026-06-18
   days on market $110,000 Active 125 DOM
2. 2026-06-17
   days on market $110,000 Active 124 DOM
3. 2026-06-16
   days on market $110,000 Active 123 DOM
4. 2026-06-15
   days on market $110,000 Active 122 DOM
5. 2026-06-13
   days on market $110,000 Active 120 DOM
6. 2026-06-10
   days on market $110,000 Active 116 DOM
7. 2026-06-08
   days on market $110,000 Active 115 DOM
8. 2026-06-07
   days on market $110,000 Active 114 DOM
9. 2026-06-04
   days on market $110,000 Active 111 DOM
10. 2026-06-01
    days on market $110,000 Active 108 DOM
11. 2026-05-31
    days on market $110,000 Active 107 DOM
12. 2026-02-13
    listed $110,000 Active 197-char remark

    Show marketing remark (197 chars)

    Selling: As Is. This property can be restored or torn down to build your dream home. Homebuyers looking to build instant equity, along with an investor or handyman, this corner lot home is for you.

13. 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: $2,519 · $210/mo
• Projected year-2 tax: $2,519 · $210/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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: $13,641
• − Mortgage interest: −$6,162
• − Property taxes: −$2,519
• − Insurance: −$1,348
• − Repairs & maintenance: −$1,091
• − Management: −$1,091
• − Depreciation: −$3,200
• Taxable loss: −$1,770
• Est. tax savings @ 24.0%: +$425
• After-tax cash flow: $412/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

2 events — show timeline

• 2026-02-13 Listed $110,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,519 · +8.3% YoY. Source: county tax records.