7930 Ritz St #16 · Houston, TX 77028

$485,000

1 bd · 1.0 ba · 4,447 sqft · MultiFamily · 366 Days on market

Built 1975 Poor condition 0.34 ac lot $109/sqft · at area comps Est $496k · at est. ↓ 31% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +8.5/15.0
• Appreciation +7.6/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.1/5.0
• Condition / age +1.0/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Welcome to 7930 Ritz Street #16, located in the Liberty Road Manor subdivision—an excellent investment opportunity in the heart of Houston. This 4,447 SF multifamily property sits on a 14,760 SF lot and features 16 studio units, each approximately 280 SF. Originally built in 1975, the building includes a community laundry room and office space, offering potential for conversion into additional income-generating units. With ample parking, professional management, and easy access to major highways, public transportation, and nearby amenities, this property is positioned for long-term growth and consistent occupancy. Don’t miss your chance to invest in a value-add opportunity in one of Houston’s established communities!

Key facts

• Office space
• Ample parking
• Nearby amenities

Tags

• OFFICE SPACE
• AMPLE PARKING
• EASY ACCESS TO MAJOR HIGHWAYS
• PUBLIC TRANSPORTATION
• NEARBY AMENITIES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath multifamily listed at $485k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $10k ($120k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($17k rent vs $485k).
• Recommended offer: $427k (12.0% below list) — sets the bar for market timing.
• Cap rate 31.0% 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 soft (-1.6%/yr); 353 active listings in the ZIP; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $16,899/mo this rent would consume 529% of the median local household income ($38k/yr) (locally 1177% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $29k of equity ($3k loan paydown + $25k appreciation (5.2% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.2% appreciation + 0.0% rent growth), your $136k cash investment doubles in ~1 year — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$46k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 366 days — a 12% lower offer ($427k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $65k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: 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 $426,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 366 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 3.48% ✓
• Cap rate: 31.03%
• Cash-on-cash: 88.35%
• DSCR: 4.93
• GRM: 2.4

CMA / ARV

• ARV (median comp): $496,433
• List price: $485,000
• Delta: -2.30%
• Verdict: FAIR
• Comps: 9 within 1.0 mi

Projected returns pro-forma

5.25% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 91.2%
• Equity multiple: 6.20×
• Total profit: $706,137
• Equity at exit: $282,090

10-year hold

• IRR: 88.5%
• Equity multiple: 12.02×
• Total profit: $1,496,774
• Equity at exit: $492,949

Cash invested: $135,800 (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 77028

• Home prices YoY: 2.0%
• Rents YoY: -1.6%
• Active inventory: 353
• Price-to-rent: 38.3×

Monthly cashflow live

• Estimated rent: $16,899 medium
• Mortgage (P&I): −$2,543
• Tax est. 1.5%: −$606 /mo · $7,275/yr
• Insurance: −$202
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,549
• Net cashflow: $9,998

Break-even live

Break-even rent $4,243

Max offer price $485,000

Occupancy floor 36%

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

Units	Beds	Baths	Est. rent
▸ 16× units	1	1	$16,896
Total (16 units)			$16,899

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: $121,250
• Closing costs: $14,550
• Reserves months: —
• Total cash needed: —

Listing history 29 events

1. 2026-06-18
   days on market $485,000 Active 366 DOM
2. 2026-06-17
   days on market $485,000 Active 365 DOM
3. 2026-06-16
   days on market $485,000 Active 364 DOM
4. 2026-06-15
   days on market $485,000 Active 363 DOM
5. 2026-06-13
   days on market $485,000 Active 361 DOM
6. 2026-06-10
   days on market $485,000 Active 357 DOM
7. 2026-06-08
   days on market $485,000 Active 356 DOM
8. 2026-06-07
   days on market $485,000 Active 355 DOM
9. 2026-06-04
   days on market $485,000 Active 352 DOM
10. 2026-06-01
    days on market $485,000 Active 349 DOM
11. 2026-05-31
    days on market $485,000 Active 348 DOM
12. 2026-02-15
    historical
13. 2026-01-12
    price $485,000 744-char remark

    Show marketing remark (744 chars)

    Welcome to 7930 Ritz Street #16, located in the Liberty Road Manor subdivision—an excellent investment opportunity in the heart of Houston. This 4,447 SF multifamily property sits on a 14,760 SF lot and features 16 studio units, each approximately 280 SF. Originally built in 1975, the building includes a community laundry room and office space, offering potential for conversion into additional income-generating units. With ample parking, professional management, and easy access to major highways, public transportation, and nearby amenities, this property is positioned for long-term growth and consistent occupancy. Don’t miss your chance to invest in a value-add opportunity in one of Houston’s established communities!

14. 2025-11-26
    status Active 744-char remark

    Show marketing remark (744 chars)

    Welcome to 7930 Ritz Street #16, located in the Liberty Road Manor subdivision—an excellent investment opportunity in the heart of Houston. This 4,447 SF multifamily property sits on a 14,760 SF lot and features 16 studio units, each approximately 280 SF. Originally built in 1975, the building includes a community laundry room and office space, offering potential for conversion into additional income-generating units. With ample parking, professional management, and easy access to major highways, public transportation, and nearby amenities, this property is positioned for long-term growth and consistent occupancy. Don’t miss your chance to invest in a value-add opportunity in one of Houston’s established communities!

15. 2025-11-19
    status Pending 744-char remark

    Show marketing remark (744 chars)

    Welcome to 7930 Ritz Street #16, located in the Liberty Road Manor subdivision—an excellent investment opportunity in the heart of Houston. This 4,447 SF multifamily property sits on a 14,760 SF lot and features 16 studio units, each approximately 280 SF. Originally built in 1975, the building includes a community laundry room and office space, offering potential for conversion into additional income-generating units. With ample parking, professional management, and easy access to major highways, public transportation, and nearby amenities, this property is positioned for long-term growth and consistent occupancy. Don’t miss your chance to invest in a value-add opportunity in one of Houston’s established communities!

16. 2025-11-19
    status Pending 744-char remark

    Show marketing remark (744 chars)

    Welcome to 7930 Ritz Street #16, located in the Liberty Road Manor subdivision—an excellent investment opportunity in the heart of Houston. This 4,447 SF multifamily property sits on a 14,760 SF lot and features 16 studio units, each approximately 280 SF. Originally built in 1975, the building includes a community laundry room and office space, offering potential for conversion into additional income-generating units. With ample parking, professional management, and easy access to major highways, public transportation, and nearby amenities, this property is positioned for long-term growth and consistent occupancy. Don’t miss your chance to invest in a value-add opportunity in one of Houston’s established communities!

17. 2025-07-08
    listed
18. 2025-06-17
    listed $550,000 Active 744-char remark

    Show marketing remark (744 chars)

    Welcome to 7930 Ritz Street #16, located in the Liberty Road Manor subdivision—an excellent investment opportunity in the heart of Houston. This 4,447 SF multifamily property sits on a 14,760 SF lot and features 16 studio units, each approximately 280 SF. Originally built in 1975, the building includes a community laundry room and office space, offering potential for conversion into additional income-generating units. With ample parking, professional management, and easy access to major highways, public transportation, and nearby amenities, this property is positioned for long-term growth and consistent occupancy. Don’t miss your chance to invest in a value-add opportunity in one of Houston’s established communities!

19. 2024-08-27
    historical
20. 2024-06-24
    listed $629,900 Active
21. 2024-06-22
    historical
22. 2024-05-17
    historical
23. 2024-04-15
    price $999,999
24. 2024-03-04
    price $669,900
25. 2024-01-08
    listed $674,900 Active
26. 2023-12-18
    status Pending, Continue to Show
27. 2023-12-18
    historical
28. 2023-11-14
    listed $699,000 Active
29. 2023-11-14
    historical

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥111°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $202,788
• − Mortgage interest: −$27,168
• − Property taxes: −$7,275
• − Insurance: −$2,425
• − Repairs & maintenance: −$16,223
• − Management: −$16,223
• − Depreciation: −$14,109
• Taxable income: $119,365
• Est. tax owed @ 24.0%: −$28,648
• After-tax cash flow: $91,334/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.

Condition & rehab AI · 6 photos

Poor 20/100 Extensive rehab

This abandoned multifamily property requires extensive repairs and maintenance to become move-in ready. Significant investments in the roof, flooring, interior walls, bathrooms, HVAC, and landscaping are necessary to increase its resale and rental value.

Repairs flagged

• Major Roof — Sections of the roof are missing
• Major Flooring — Damaged and uneven
• Major Interior walls/paint — Paint peeling and walls damaged
• Major Bathroom fixtures — Old and worn
• Major HVAC/mechanicals — No visible signs of functioning systems

Value-add opportunities

• Both Landscaping and curb appeal improvements — Enhances property's visual appeal and attracts potential buyers/tenants
• Both Roof repair and replacement — Critical to the structural integrity and safety of the property
• Both Flooring repair and replacement — Improves the living conditions and aesthetics of the property
• Both Interior wall and paint repair — Enhances the property's appearance and creates a more inviting atmosphere
• Both Bathroom fixture replacement — Improves the functionality and aesthetics of the bathroom
• Both HVAC/mechanical system repair and replacement — Ensures the property is comfortable and energy-efficient

Renovation cost estimate screening

Repair item	Severity	Est. cost
Roof · Sections of the roof are missing	Major	$15,000–50,000
Flooring · Damaged and uneven	Major	$15,000–50,000
Interior walls/paint · Paint peeling and walls damaged	Major	$15,000–50,000
Bathroom fixtures · Old and worn	Major	$15,000–50,000
HVAC/mechanicals · No visible signs of functioning systems	Major	$15,000–50,000
Total estimated repair cost · 5 items		$75,000–250,000

Value-add ROI direction

• Both Landscaping and curb appeal improvements — Enhances property's visual appeal and attracts potential buyers/tenants ↑
• Both Roof repair and replacement — Critical to the structural integrity and safety of the property ↑
• Both Flooring repair and replacement — Improves the living conditions and aesthetics of the property ↑
• Both Interior wall and paint repair — Enhances the property's appearance and creates a more inviting atmosphere ↑
• Both Bathroom fixture replacement — Improves the functionality and aesthetics of the bathroom ↑
• Both HVAC/mechanical system repair and replacement — Ensures the property is comfortable and energy-efficient ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 19,109
• Household income: $38,357
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1177.0

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: Majority Black (57%)
• Race & ethnicity: Black 57% Hispanic / Latino 41% Two or more races 15% White 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 13% · Canada
• Languages at home: 61% English-only · Spanish 38%

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: ▲ 5.25%
• Current HPI: 267.7798
• Rent YoY: ▼ -1.55%
• 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

-30.6% since first listed

18 events — show timeline

• 2026-02-15 Rental Removed — HARMLS
• 2026-01-12 Price Changed $485,000 HARMLS
• 2025-11-26 Relisted — HARMLS
• 2025-11-19 Pending — HARMLS
• 2025-11-19 Pending — HARMLS
• 2025-07-08 Listed for Rent — HARMLS
• 2025-06-17 Listed $550,000 HARMLS
• 2024-08-27 Listing Removed — HARMLS
• 2024-06-24 Listed $629,900 HARMLS
• 2024-06-22 Coming Soon — HARMLS
• 2024-05-17 Listing Removed — HARMLS
• 2024-04-15 Price Changed $999,999 HARMLS
• 2024-03-04 Price Changed $669,900 HARMLS
• 2024-01-08 Listed $674,900 HARMLS
• 2023-12-18 Pending — HARMLS
• 2023-12-18 Listing Removed — HARMLS
• 2023-11-14 Listed $699,000 HARMLS
• 2023-11-14 Coming Soon — HARMLS