6001 Reims Rd #1207 · Houston, TX 77036

$61,990

1 bd · 1.0 ba · 693 sqft · Condo public records · 58 Days on market

Built 1980 $89/sqft · 13% below area Est $71k · 13% under $262/mo HOA · 31% 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
• 1% rule +8.7/10.0
• Cash flow +8.2/30.0
• Appreciation +4.6/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +2.2/10.0
• Rent growth +0.8/5.0

Key facts

• $262 HOA
• Parking
• Community pool

Property features AI

Finance

• HOA & community: Community managed by Randall Management; Monthly association fee; Association amenities include controlled access, pool, and tennis courts; Association fee covers common areas, sewer, trash, and water

Exterior

• Parking: Assigned parking
• Security: Security gate
• Utilities: Public water; Public sewer
• Home design: Residential property; One story; Slab foundation; Composition roof
• Construction: Built in 1980; Brick, cement siding, and wood siding construction
• Exterior features: Deck; Patio; Fence; Storage; Tennis courts (association); Association pool

Interior

• Kitchen: Dishwasher; Electric oven / electric range; Free-standing range; Disposal; Refrigerator
• Bedrooms: Primary bedroom on the first floor (12x15)
• Flooring: Laminate; Wood
• Bathrooms: One full bathroom (first floor, 8x5)
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Free-standing fireplace; Window treatments / coverings; Programmable thermostat; Accessible kitchen and hallways; 6 total rooms
• Laundry & utility: Stacked washer and dryer; Washer; Dryer; Utility room on the first floor (3x5)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $62k.

Deal economics

• At list price, monthly cash flow is $-125 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $40k (35.7% below list).
• Meets the 1% rule at list price ($849 rent vs $62k).
• Recommended offer: $40k (35.7% 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.
• 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.
• Zoned schools: Piney Point El (math 21% / reading 25%, grade F, #3,277 of 4,322 statewide, top 77%, 1,202 students, 96% FRL); Revere Middle (math 12% / reading 17%, grade F, #1,583 of 1,662 statewide, top 96%, 1,112 students, 93% FRL); Wisdom H S (math 17% / reading 16%, grade F, #1,497 of 1,632 statewide, top 92%, 2,260 students, 97% FRL) — zoned schools average 95% FRL vs 71% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 18% at this address vs 31% district-wide (-13 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents falling (-6.6%/yr); 202 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 (-0.7%/yr); year-one equity from $428 of loan paydown is wiped out by about $453 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 58 days — a 3% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 15 sale attempts since 9y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 31% of rent.
• 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 $39,867 (35.7% 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 58 days. Have you received any prior offers? Is the seller open to a 36% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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. 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?
10. 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.
11. 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.
12. 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: 1.37% ✓
• Cap rate: 5.16%
• Cash-on-cash: -4.06%
• DSCR: 0.82
• GRM: 6.1

CMA / ARV

• ARV (median comp): $71,312
• List price: $61,990
• Delta: -13.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-0.73% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.19×
• Total profit: $-14,137
• Equity at exit: $15,767

10-year hold

• IRR: -18.3%
• Equity multiple: -0.46×
• Total profit: $-25,387
• Equity at exit: $17,252

Cash invested: $17,357 (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 77036

• Home prices YoY: -0.3%
• Rents YoY: -6.6%
• Active inventory: 202
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $849 high
• Mortgage (P&I): −$325
• Tax from tax record: −$116 /mo · $1,397/yr
• Insurance: −$26
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$262
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $-125

Break-even live

Break-even rent $1,007

Max offer price $39,867

Occupancy floor —

Sensitivity live

Price	-10% $-90	-5% $-108	+0% $-125	+5% $-143	+10% $-160
Rent	-10% $-192	-5% $-159	+0% $-125	+5% $-92	+10% $-58
Rate	-1.0pp $-94	-0.5pp $-109	base $-125	+0.5pp $-141	+1.0pp $-158

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: $15,498
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5959 Bonhomme Rd Houston, TX	2.0	2.0	692	$1,034	$1.49	1d	28	0.10mi
5959 Bonhomme Rd Unit 6010 Houston, TX	1.0	1.0	539	$771	$1.43	45d	1	0.13mi
7500 Bellerive Dr Houston, TX	2.0	1.0–2.0	692	$850	$1.23	14d	1	0.20mi
7391 Regency Square Ct Houston, TX	1.0	1.0	661	$849	$1.28	45d	1	0.21mi
6203 Marinette Dr Houston, TX	1.0–2.0	1.0–2.0	935	$685	$0.73	0d	9	0.27mi
7637 Harwin Dr Houston, TX	1.0–2.0	1.0	908	$930	$1.02	3d	12	0.28mi
6106 Marinette Dr Houston, TX	1.0	1.0	685	$800	$1.17	45d	1	0.32mi
6106 Marinette Dr Houston, TX	1.0	1.0	685	$800	$1.17	17d	1	0.32mi
6200 Marinette Dr Houston, TX	1.0–3.0	1.0–2.5	912	$620	$0.68	1d	21	0.34mi
7506 Clarewood Dr Houston, TX	1.0	1.0	715	$830	$1.16	45d	1	0.37mi
5810 Fondren Rd Houston, TX	1.0–3.0	1.0–2.0	1000	$865	$0.86	17d	1	0.42mi
7581 Bellaire Blvd Houston, TX	1.0	1.0	691	$1,010	$1.46	45d	1	0.69mi
7581 Bellaire Blvd Houston, TX	1.0	1.0	691	$1,010	$1.46	21d	1	0.69mi
22 Sands Point Dr Houston, TX	1.0	1.0	610	$955	$1.57	45d	1	0.82mi
6960 Bellaire Blvd Houston, TX	1.0	1.0	713	$945	$1.33	22d	1	0.85mi
6960 Bellaire Blvd Houston, TX	1.0	1.0	727	$935	$1.29	45d	1	0.85mi
8155 Richmond Ave Houston, TX	1.0–2.0	1.0–2.0	746	$789	$1.06	1d	15	0.89mi
8100 Sands Point Dr Houston, TX	1.0–3.0	1.0–2.0	953	$837	$0.88	0d	28	0.90mi
7900 Bellaire Blvd Houston, TX	1.0–3.0	1.0–2.0	942	$850	$0.90	19d	1	0.90mi
6718 De Moss Dr Houston, TX	1.0–3.0	1.0–2.5	978	$709	$0.72	3d	34	0.93mi
8100 Bellaire Blvd Houston, TX	1.0–3.0	1.0–2.0	881	$735	$0.83	1d	26	0.98mi
8168 Richmond Ave Houston, TX	1.0	1.0	676	$920	$1.36	45d	1	1.00mi
8168 Richmond Ave Houston, TX	1.0	1.0	676	$920	$1.36	24d	1	1.00mi
9221 Pagewood Ln Unit 1047 Houston, TX	1.0	1.0	668	$790	$1.18	1d	1	1.02mi
8162 Richmond Ave Unit 8162-1701 Houston, TX	1.0	1.0	623	$975	$1.57	45d	1	1.03mi
8162 Richmond Ave Houston, TX	1.0–2.0	1.0–2.0	746	$730	$0.98	0d	40	1.05mi
9221 Pagewood Ln Unit 9295 Houston, TX	1.0	1.0	502	$755	$1.50	16d	1	1.06mi
9221 Pagewood Ln Unit 9272 Houston, TX	1.0	1.0	668	$749	$1.12	14d	1	1.06mi
9221 Pagewood Ln Unit 9295 Houston, TX	1.0	1.0	668	$800	$1.20	0d	1	1.06mi
9221 Pagewood Ln Unit 1162 Houston, TX	1.0	1.0	668	$760	$1.14	9d	1	1.06mi
8996 Richmond Ave Houston, TX	1.0	1.0	660	$1,005	$1.52	45d	1	1.08mi
3737 Hillcroft St Houston, TX	1.0–2.0	1.0–2.0	810	$749	$0.92	3d	24	1.11mi
3401 Ocee St Unit 3475 Houston, TX	1.0	1.0	500	$755	$1.51	16d	1	1.13mi
3401 Ocee St Unit 3475 Houston, TX	1.0	1.0	500	$750	$1.50	0d	1	1.13mi
3401 Ocee St Unit 3452 Houston, TX	1.0	1.0	500	$699	$1.40	14d	1	1.13mi
8990 Richmond Ave Unit 1162 Houston, TX	1.0	1.0	539	$785	$1.46	7d	1	1.14mi
8990 Richmond Ave Unit 9011 Houston, TX	1.0	1.0	539	$820	$1.52	16d	1	1.14mi
8990 Richmond Ave Unit 321 Houston, TX	1.0	1.0	539	$785	$1.46	9d	1	1.14mi
8990 Richmond Ave Unit 9032 Houston, TX	1.0	1.0	484	$815	$1.68	0d	1	1.14mi
8990 Richmond Ave Unit 9041 Houston, TX	1.0	1.0	539	$815	$1.51	45d	1	1.14mi

HOA detail condo

• Monthly dues: $262 · $3,144/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   days on market $61,990 Active 58 DOM
2. 2026-06-18
   days on market $61,990 Active 55 DOM
3. 2026-06-17
   days on market $61,990 Active 54 DOM
4. 2026-06-16
   days on market $61,990 Active 53 DOM
5. 2026-06-15
   days on market $61,990 Active 52 DOM
6. 2026-06-13
   days on market $61,990 Active 50 DOM
7. 2026-06-10
   days on market $61,990 Active 46 DOM
8. 2026-06-08
   days on market $61,990 Active 45 DOM
9. 2026-06-07
   days on market $61,990 Active 44 DOM
10. 2026-06-04
    days on market $61,990 Active 41 DOM
11. 2026-06-01
    days on market $61,990 Active 38 DOM
12. 2026-05-31
    days on market $61,990 Active 37 DOM
13. 2026-04-23
    listed $61,990 Active
14. 2026-04-03
    historical $925
15. 2026-04-03
    historical
16. 2026-02-25
    listed $925
17. 2026-02-14
    historical $925
18. 2026-02-03
    listed $925
19. 2026-02-02
    listed $64,000 Active
20. 2026-01-31
    historical $925
21. 2026-01-30
    historical
22. 2026-01-23
    price $64,000
23. 2025-10-11
    listed $925
24. 2025-09-27
    historical $925
25. 2025-09-10
    listed $925
26. 2025-09-09
    listed $75,000 Active
27. 2025-08-21
    historical
28. 2025-06-30
    historical $925
29. 2025-06-14
    listed $925
30. 2025-05-19
    listed $77,000 Active
31. 2024-12-06
    status Pending
32. 2024-12-06
    historical
33. 2024-10-25
    listed $79,999 Active
34. 2024-10-25
    historical
35. 2021-04-06
    soldstatus
36. 2021-04-02
    soldstatus Sold
37. 2021-03-30
    status Pending
38. 2021-03-25
    listed $52,000 Active
39. 2018-12-19
    historical
40. 2018-12-08
    price $55,000
41. 2018-12-08
    status Active
42. 2018-11-30
    historical
43. 2018-11-24
    price $59,000
44. 2018-11-09
    price $63,000
45. 2018-10-24
    price $65,000
46. 2018-10-16
    listed $69,000 Active
47. 2017-09-26
    historical
48. 2017-05-22
    status Active
49. 2017-05-17
    status Pending
50. 2017-04-10
    listed $40,000 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: $1,397 · $116/mo
• Projected year-2 tax: $1,397 · $116/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 · 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: $10,186
• − Mortgage interest: −$3,472
• − Property taxes: −$1,397
• − Insurance: −$1,107
• − Repairs & maintenance: −$815
• − Management: −$815
• − HOA: −$3,144
• − Depreciation: −$1,803
• Taxable loss: −$2,368
• Est. tax savings @ 24.0%: +$568
• After-tax cash flow: $-934/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): 71,770
• Household income: $45,716
• Rent vs Own: 82.3% rent · 17.7% own
• Severe rent burden: 4374.0

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 (71%)
• Race & ethnicity: Hispanic / Latino 71% Two or more races 28% Black 11% Asian 9% White 7%
• Hispanic origin (detail): Mexican 33% Cuban 3%
• Foreign-born: 55% · Canada, China, Vietnam
• Languages at home: 20% English-only · Spanish 66% Chinese 5% Vietnamese 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: ▼ -0.73%
• Current HPI: 221.1045
• Rent YoY: ▼ -6.62%
• 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

+55.0% since first listed

39 events — show timeline

• 2026-04-23 Listed $61,990 HARMLS
• 2026-04-03 Rental Removed $925 HARMLS
• 2026-04-03 Listing Removed — HARMLS
• 2026-02-25 Listed for Rent $925 HARMLS
• 2026-02-14 Rental Removed $925 HARMLS
• 2026-02-03 Listed for Rent $925 HARMLS
• 2026-02-02 Listed $64,000 HARMLS
• 2026-01-31 Rental Removed $925 HARMLS
• 2026-01-30 Listing Removed — HARMLS
• 2026-01-23 Price Changed $64,000 HARMLS
• 2025-10-11 Listed for Rent $925 HARMLS
• 2025-09-27 Rental Removed $925 HARMLS
• 2025-09-10 Listed for Rent $925 HARMLS
• 2025-09-09 Listed $75,000 HARMLS
• 2025-08-21 Listing Removed — HARMLS
• 2025-06-30 Rental Removed $925 HARMLS
• 2025-06-14 Listed for Rent $925 HARMLS
• 2025-05-19 Listed $77,000 HARMLS
• 2024-12-06 Pending — HARMLS
• 2024-12-06 Listing Removed — HARMLS
• 2024-10-25 Listed $79,999 HARMLS
• 2024-10-25 Coming Soon — HARMLS
• 2021-04-06 Sold (Public Records) — Public Records
• 2021-04-02 Sold (MLS) — HARMLS
• 2021-03-30 Pending — HARMLS
• 2021-03-25 Listed $52,000 HARMLS
• 2018-12-19 Listing Removed — HARMLS
• 2018-12-08 Price Changed $55,000 HARMLS
• 2018-12-08 Relisted — HARMLS
• 2018-11-30 Listing Removed — HARMLS
• 2018-11-24 Price Changed $59,000 HARMLS
• 2018-11-09 Price Changed $63,000 HARMLS
• 2018-10-24 Price Changed $65,000 HARMLS
• 2018-10-16 Listed $69,000 HARMLS
• 2017-09-26 Listing Removed — HARMLS
• 2017-05-22 Relisted — HARMLS
• 2017-05-17 Pending — HARMLS
• 2017-04-10 Listed $40,000 HARMLS
• 2000-05-11 Sold (Public Records) — Public Records

Property tax history

+9.0%/yr

Latest (2025): $1,397 · +1.5% YoY. Source: county tax records.