5403 Amy St · Houston, TX 77028

$460,000

6 bd · 4.0 ba · 3,017 sqft · MultiFamily public records · 53 Days on market

Built 2022 5,249 sqft lot $152/sqft · at area comps Est $446k · at est.

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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).

• Cash flow +10.1/30.0
• Appreciation +7.6/10.0
• ARV discount +6.1/15.0
• Livability +3.7/5.0
• 1% rule +3.4/10.0
• DSCR +2.9/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

This wonderful piece of land is located on a corner lot with easy access to 610 Hwy. It is approximately 15 minutes from the city and conveniently located close to shopping, an emergency hospital, Minute-Maid Park, Downtown, NRG, and other areas of Houston. This lot is ready for you build you dream home.

Key facts

• 5,249 sq ft lot
• Built 2022
• Listed 53 days

Property features AI

Finance

• Financial info: Two units total (multi-unit property)

Exterior

• Parking: Electric gate entry; Paved parking
• Security: Gated with attendant
• Utilities: Has heating and cooling
• Home design: Residential income property; Built in 2022
• Construction: Composition roof
• Exterior features: Corner lot; Partial fencing; Gated with attendant

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator; ENERGY STAR qualified appliances
• Bedrooms: Unit(s) include a 3-bedroom unit
• Flooring: Laminate flooring; Tile flooring; Vinyl flooring
• Bathrooms: 4 full bathrooms (total for property)
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Furnished; Quartz counters; Ceiling fans; Programmable thermostat; Insulated doors; Low-e (low emissivity) windows

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $460k.

Deal economics

• At list price, monthly cash flow is $-266 ($-3k/yr) — negative. Per door: $-133/mo.
• To cash-flow at today's rent, offer at most $413k (10.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $387k (15.9% below list).
• Recommended offer: $387k (15.9% below list) — sets the bar for 1% rule.
• Cap rate 5.6% 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: Elmore El (math 12% / reading 14%, grade F, #4,152 of 4,322 statewide, top 96%, 532 students, 99% FRL); Key Middle (math 10% / reading 20%, grade F, #1,569 of 1,662 statewide, top 95%, 615 students, 100% FRL); Kashmere H S (math 14% / reading 22%, grade F, #1,445 of 1,632 statewide, top 89%, 725 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 31% district-wide (-16 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 soft (-1.6%/yr); 356 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 $3,868/mo this rent would consume 121% 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 $27k of equity ($3k loan paydown + $24k appreciation (5.2% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 53 days — a 3% lower offer ($446k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y 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

• 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 $386,800 (15.9% 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 53 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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: 0.84% ✗
• Cap rate: 5.60%
• Cash-on-cash: -2.48%
• DSCR: 0.89
• GRM: 9.9

CMA / ARV

• ARV (median comp): $446,093
• List price: $460,000
• Delta: 3.12%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7980 Angus St	0.44mi	6/6.0	3,210 (+6%)	9mo	$499,900	$156	54
7921 Bonaire St Unit A and B	0.21mi	6/2.0	2,581 (-14%)	17mo	$465,000	$180	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 10.2%
• Equity multiple: 1.65×
• Total profit: $84,358
• Equity at exit: $267,549

10-year hold

• IRR: 10.6%
• Equity multiple: 2.92×
• Total profit: $247,678
• Equity at exit: $467,539

Cash invested: $128,800 (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: 356
• Price-to-rent: 19.8×

Monthly cashflow live

• Estimated rent: $3,868 high
• Mortgage (P&I): −$2,412
• Tax from tax record: −$718 /mo · $8,612/yr
• Insurance: −$192
• HOA: −$0
• Vacancy / Maint / Mgmt: −$812
• Net cashflow: $-266

Break-even live

Break-even rent $4,205

Max offer price $413,024

Occupancy floor —

Sensitivity live

Price	-10% $-6	-5% $-136	+0% $-266	+5% $-396	+10% $-526
Rent	-10% $-571	-5% $-419	+0% $-266	+5% $-113	+10% $40
Rate	-1.0pp $-34	-0.5pp $-149	base $-266	+0.5pp $-385	+1.0pp $-506

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$3,868
Total (2 units)			$3,868

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: $115,000
• Closing costs: $13,800
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-22
   days on market $460,000 Active 53 DOM
2. 2026-06-21
   days on market $460,000 Active 52 DOM
3. 2026-06-18
   days on market $460,000 Active 49 DOM
4. 2026-06-17
   days on market $460,000 Active 48 DOM
5. 2026-06-16
   days on market $460,000 Active 47 DOM
6. 2026-06-15
   days on market $460,000 Active 46 DOM
7. 2026-06-13
   days on market $460,000 Active 44 DOM
8. 2026-06-10
   days on market $460,000 Active 40 DOM
9. 2026-06-08
   days on market $460,000 Active 39 DOM
10. 2026-06-07
    days on market $460,000 Active 38 DOM
11. 2026-06-04
    days on market $460,000 Active 35 DOM
12. 2026-06-01
    days on market $460,000 Active 32 DOM
13. 2026-05-31
    days on market $460,000 Active 31 DOM
14. 2026-04-30
    listed $460,000 Active 782-char remark
15. 2026-04-25
    historical $460,000 782-char remark
16. 2026-04-08
    historical
17. 2026-03-07
    price $499,900
18. 2025-12-06
    listed $525,000 Active
19. 2021-10-13
    soldstatus
20. 2019-09-03
    soldstatus
21. 2019-08-30
    soldstatus Sold

    Show marketing remark (305 chars)

    This wonderful piece of land is located on a corner lot with easy access to 610 Hwy. It is approximately 15 minutes from the city and conveniently located close to shopping, an emergency hospital, Minute-Maid Park, Downtown, NRG, and other areas of Houston. This lot is ready for you build you dream home.

22. 2019-08-16
    status Pending

    Show marketing remark (305 chars)

    This wonderful piece of land is located on a corner lot with easy access to 610 Hwy. It is approximately 15 minutes from the city and conveniently located close to shopping, an emergency hospital, Minute-Maid Park, Downtown, NRG, and other areas of Houston. This lot is ready for you build you dream home.

23. 2019-08-12
    status Option Pending

    Show marketing remark (305 chars)

    This wonderful piece of land is located on a corner lot with easy access to 610 Hwy. It is approximately 15 minutes from the city and conveniently located close to shopping, an emergency hospital, Minute-Maid Park, Downtown, NRG, and other areas of Houston. This lot is ready for you build you dream home.

24. 2019-08-05
    listed $18,000 Active

    Show marketing remark (305 chars)

    This wonderful piece of land is located on a corner lot with easy access to 610 Hwy. It is approximately 15 minutes from the city and conveniently located close to shopping, an emergency hospital, Minute-Maid Park, Downtown, NRG, and other areas of Houston. This lot is ready for you build you dream home.

25. 2019-04-30
    soldstatus
26. 2005-03-07
    soldstatus
27. 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: $8,612 · $718/mo
• Projected year-2 tax: $8,612 · $718/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 · 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: $46,416
• − Mortgage interest: −$25,767
• − Property taxes: −$8,612
• − Insurance: −$2,300
• − Repairs & maintenance: −$3,713
• − Management: −$3,713
• − Depreciation: −$13,382
• Taxable loss: −$11,072
• Est. tax savings @ 24.0%: +$2,657
• After-tax cash flow: $-534/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): 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

+2455.6% since first listed

14 events — show timeline

• 2026-04-30 Listed $460,000 HARMLS
• 2026-04-25 Coming Soon $460,000 HARMLS
• 2026-04-08 Listing Removed — HARMLS
• 2026-03-07 Price Changed $499,900 HARMLS
• 2025-12-06 Listed $525,000 HARMLS
• 2021-10-13 Sold (Public Records) — Public Records
• 2019-09-03 Sold (Public Records) — Public Records
• 2019-08-30 Sold (MLS) — HARMLS
• 2019-08-16 Pending — HARMLS
• 2019-08-12 Pending — HARMLS
• 2019-08-05 Listed $18,000 HARMLS
• 2019-04-30 Sold (Public Records) — Public Records
• 2005-03-07 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+28.3%/yr

Latest (2025): $8,612 · -14.7% YoY. Source: county tax records.