1500 Olympia Way #31 · College Station, TX 77840

$123,000

2 bd · 1.0 ba · 1,111 sqft · SingleFamily public records · 19 Days on market

Built 1982 3,267 sqft lot $111/sqft · 16% below area Est $147k · 16% under $457/mo HOA · 33% of rent ↓ 18% since listing

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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 +14.8/15.0
• 1% rule +6.1/10.0
• Cash flow +4.9/30.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful and cozy move-In Ready condo in the desirable Sutter’s Mill community, just steps from a TAMU bus stop! This well-maintained 2-bedroom, 1.5-bathroom condo thoughtfully designed floor plan offers a warm and inviting atmosphere, featuring a cozy fireplace and spacious living area. Soaring vaulted ceilings enhance the sense of openness, while durable vinyl flooring flows throughout the downstairs living spaces, excluding the kitchen and half bath, which are finished with easy-to-clean tile. The kitchen features warm wooden cabinets and opens seamlessly to the dining and living areas, making it ideal for both daily living and entertaining. Upstairs, you'll find two generously si

Key facts

• Spacious living area
• Cozy fireplace
• Easy to clean tile

Tags

• MOVE IN READY
• COZY FIREPLACE
• SPACIOUS LIVING AREA
• SOARING VAULTED CEILINGS
• DURABLE VINYL FLOORING
• EASY TO CLEAN TILE

Property features AI

Finance

• HOA & community: HOA provides grounds maintenance; Monthly association fee (approximately $457.71) covering insurance and structure maintenance

Exterior

• Parking: Attached carport; 2 covered parking spaces; 2-car garage
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Electricity available; Sewer available; Water available
• Home design: Residential condominium; Two levels; Slab foundation
• Construction: HardiPlank and vinyl siding
• Exterior features: No fencing; Composition roof; Lot about 0.075 acres; Subdivision: Sutters Mill; Directions: Texas Ave to Harvey Rd, Lt on Stallings Dr, Rt on University Oaks Blvd, Lt on Olympia Way. The first building after turning onto Olympia Way.

Interior

• Flooring: Laminate flooring; Tile flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric); Ceiling fan cooling
• Interior features: Ceiling fans; Window treatments; Fireplace (other type)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $123k.

Deal economics

• At list price, monthly cash flow is $-296 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $71k (42.5% below list).
• Meets the 1% rule at list price ($1k rent vs $123k).
• Recommended offer: $71k (42.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 83/100 on livability (#11 in TX, #994 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, crime A-; Watch: employment C-.
• College Station ISD (urban): math 58% / reading 54% proficiency, ranked #113 of 826 in TX (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: College Hills El (math 33% / reading 32%, grade F, #2,234 of 4,322 statewide, top 52%, 596 students, 75% FRL); Oakwood Int (math 55% / reading 47%, grade C, #326 of 1,662 statewide, top 20%, 719 students, 48% FRL); A & M Cons H S (math 65% / reading 66%, grade B, #193 of 1,632 statewide, top 12%, 2,139 students, 32% FRL) — zoned schools average 52% FRL vs 24% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.2%/yr); 307 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,211 units permitted in Brazos County in 2024 (768 in 5+ unit buildings).
• At $1,366/mo this rent would consume 54% of the median local household income ($30k/yr) (locally 8224% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $850 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Brazos County population projected at +55% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($121k) 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 33% of rent.

Recommended offer $70,664 (42.5% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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?
6. 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.
7. 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.
8. 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: 1.11% ✓
• Cap rate: 3.40%
• Cash-on-cash: -10.32%
• DSCR: 0.54
• GRM: 7.5

CMA / ARV

• ARV (median comp): $146,714
• List price: $123,000
• Delta: -16.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1004 Milner	0.69mi	2/1.0	1,248 (+12%)	8mo	$299,000	$240	40

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 · 6.24% rent growth · sell at horizon

5-year hold

• IRR: -28.1%
• Equity multiple: 0.02×
• Total profit: $-33,858
• Equity at exit: $18,340

10-year hold

• IRR: -12.9%
• Equity multiple: 0.06×
• Total profit: $-32,211
• Equity at exit: $10,635

Cash invested: $34,440 (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 77840

• Rents YoY: 6.2%
• Active inventory: 307
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,366 high
• Mortgage (P&I): −$645
• Tax from tax record: −$222 /mo · $2,670/yr
• Insurance: −$51
• HOA: −$457
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $-296

Break-even live

Break-even rent $1,741

Max offer price $70,664

Occupancy floor —

Sensitivity live

Price	-10% $-227	-5% $-261	+0% $-296	+5% $-331	+10% $-366
Rent	-10% $-404	-5% $-350	+0% $-296	+5% $-242	+10% $-188
Rate	-1.0pp $-234	-0.5pp $-265	base $-296	+0.5pp $-328	+1.0pp $-361

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: $30,750
• Closing costs: $3,690
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
904 University Oaks Blvd College Station, TX	1.0–2.0	1.0–2.0	792	$1,200	$1.51	45d	2	0.17mi
904 University Oaks Blvd College Station, TX	1.0–2.0	1.0–2.0	792	$1,200	$1.51	23d	2	0.17mi
1900 Dartmouth St College Station, TX	2.0	1.0–1.5	1040	$1,250	$1.20	15d	1	0.30mi
1902 Dartmouth St College Station, TX	2.0	1.5	1024	$1,200	$1.17	23d	1	0.30mi
1903 Dartmouth St College Station, TX	1.0–2.0	1.0	870	$1,250	$1.44	45d	1	0.39mi
1201 Harvey Rd College Station, TX	1.0–3.0	1.0–2.0	802	$1,068	$1.33	15d	133	0.46mi
1915 Dartmouth St College Station, TX	1.0–2.0	1.0–2.5	903	$1,495	$1.66	23d	30	0.54mi
300 Holleman Dr E Unit 1104 College Station, TX	2.0	2.0	947	$1,250	$1.32	45d	1	0.57mi
300 Holleman Dr E Unit 1203 College Station, TX	2.0	2.5	1090	$1,300	$1.19	45d	1	0.57mi
213 Holleman Dr E Unit 105 College Station, TX	2.0	2.0	1000	$1,525	$1.52	45d	1	0.62mi
309 Redmond Dr College Station, TX	1.0–2.0	1.0–1.5	638	$995	$1.56	15d	9	0.71mi
116 Richards St College Station, TX	2.0	1.0	1198	$1,995	$1.67	15d	1	0.76mi
709 Vassar Ct Apt C College Station, TX	2.0	2.0	950	$1,500	$1.58	45d	1	0.78mi
818 Nimitz St College Station, TX	3.0	2.0	1133	$1,395	$1.23	45d	1	0.87mi
2330 Autumn Chase Loop Unit B College Station, TX	3.0	3.0	1364	$1,650	$1.21	23d	1	0.88mi
1601 Holleman Dr College Station, TX	1.0–3.0	1.0–2.0	888	$1,288	$1.45	45d	5	0.91mi
1505 Park Pl Apt 24 College Station, TX	2.0	1.0	865	$950	$1.10	45d	1	0.93mi
615 Pasler St College Station, TX	3.0	1.5	1061	$1,600	$1.51	15d	1	0.95mi
901 Camellia Ct Unit B College Station, TX	3.0	2.0	1100	$1,275	$1.16	15d	1	0.95mi
2400 Central Park Ln College Station, TX	1.0–2.0	1.0–2.0	755	$1,095	$1.45	15d	10	0.97mi
810 Camellia Ct Unit 1328089P College Station, TX	3.0	2.0	1302	$4,917	$3.78	23d	1	0.97mi
1104 Autumn Cir Apt D College Station, TX	2.0	2.0	963	$1,000	$1.04	45d	1	1.14mi
1524 Pine Ridge Dr College Station, TX	2.0	1.0	789	$950	$1.20	45d	1	1.14mi
402 Summer Ct Unit 2B College Station, TX	2.0	2.0	750	$900	$1.20	45d	1	1.16mi
1402 Holleman Dr College Station, TX	1.0–2.0	1.0	700	$795	$1.14	23d	13	1.21mi
1601 Anderson St College Station, TX	2.0	1.0	796	$938	$1.18	23d	5	1.23mi
801 Spring Loop College Station, TX	1.0–2.0	1.0–2.0	921	$1,240	$1.35	15d	23	1.25mi
205 Winter Park Unit D College Station, TX	2.0	2.0	980	$1,500	$1.53	15d	1	1.28mi
1001 Krenek Tap Rd College Station, TX	3.0–4.0	3.0–4.0	1572	$600	$0.38	45d	2	1.29mi
1200 Village Dr College Station, TX	3.0	2.0	1443	$1,750	$1.21	23d	1	1.29mi
1200 Village Dr College Station, TX	3.0	2.0	1443	$1,750	$1.21	15d	1	1.29mi
533 Forest Drive Loop College Station, TX	3.0	3.5	1456	$1,675	$1.15	15d	1	1.30mi
1613 Southwest Pkwy College Station, TX	2.0	1.0	798	$1,150	$1.44	15d	1	1.32mi
512 Camp Ct Unit 1328090P College Station, TX	3.0	2.0	1388	$3,624	$2.61	15d	1	1.34mi
101 Winter Park Unit A College Station, TX	3.0	3.0	1347	$2,250	$1.67	15d	1	1.36mi
1600 Southwest Pkwy College Station, TX	1.0–3.0	1.0–2.5	1005	$1,150	$1.14	15d	21	1.42mi
1302 Laura Ln College Station, TX	3.0	2.0	1460	$1,825	$1.25	23d	1	1.45mi

HOA detail

• Monthly dues: $457 · $5,484/yr

Listing history 12 events

1. 2026-05-05
   price $123,000 1126-char remark
2. 2026-05-05
   price $127,000 1126-char remark
3. 2026-04-30
   listed $129,000 Active 1126-char remark
4. 2026-04-16
   price $132,560
5. 2026-01-28
   listed $137,560 Active
6. 2025-09-04
   price $132,000
7. 2025-06-28
   price $135,000
8. 2025-06-10
   price $139,000
9. 2025-06-03
   price $145,000
10. 2025-04-04
    listed $149,500 Active
11. 2015-09-08
    soldstatus
12. 2005-04-04
    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: $2,670 · $222/mo
• Projected year-2 tax: $2,670 · $222/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $16,397
• − Mortgage interest: −$6,890
• − Property taxes: −$2,670
• − Insurance: −$615
• − Repairs & maintenance: −$1,312
• − Management: −$1,312
• − HOA: −$5,484
• − Depreciation: −$3,578
• Taxable loss: −$5,463
• Est. tax savings @ 24.0%: +$1,311
• After-tax cash flow: $-2,244/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: College Station ISD
• NCES district ID: 4807350
• Math proficiency: 58% ▼ -4.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $36,991
• Composite: 46.54/100
• National rank: #2428
• State rank: #113 of 826 in TX

Livability — College Station

• Score: 83/100
• State rank: #11
• US rank: #994

Category grades

Amenities A+ Commute A+ Cost of living A- Crime A- Employment C- Housing A- Health & safety B User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: College Station, TX
• County: Brazos County · 233,400 people
• City population: 131,628
• Metro: College Station-Bryan, TX
• Population (ZIP): 54,864
• Household income: $30,377
• Rent vs Own: 89.7% rent · 10.3% own
• Severe rent burden: 8224.0

Population outlook (Brazos County) Hauer SSP2

• Today (2025): 267,942 people
• By 2030: 296,630 · +10.7%
• By 2040: 354,560 · +32.3%
• By 2050: 414,616 · +54.7%
• By 2075: 562,158 · +109.8%
• By 2100: 678,828 · +153.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 55% Hispanic / Latino 20% Two or more races 11% Black 11% Asian 9%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 77% English-only · Spanish 12% Other Indo-European 3% Chinese 2%

Political lean MEDSL · Brazos

• 2024 margin: Strong R (+24.9) · D 36.9% · R 61.7% · Other 1.4%
• 2008→2024 swing: +4.1pp toward D · 2008: -28.9pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+14.3 2016: R+23.7 2012: R+35.3 2008: R+28.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -155.15%
• Current HPI: 195.2885
• Rent YoY: ▲ 6.24%
• Metro: College Station-Bryan, 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

-17.7% since first listed

13 events — show timeline

• 2026-05-19 Pending — BCSRMLS
• 2026-05-05 Price Changed $123,000 BCSRMLS
• 2026-05-05 Price Changed $127,000 BCSRMLS
• 2026-04-30 Listed $129,000 BCSRMLS
• 2026-04-16 Price Changed $132,560 BCSRMLS
• 2026-01-28 Listed $137,560 BCSRMLS
• 2025-09-04 Price Changed $132,000 BCSRMLS
• 2025-06-28 Price Changed $135,000 BCSRMLS
• 2025-06-10 Price Changed $139,000 BCSRMLS
• 2025-06-03 Price Changed $145,000 BCSRMLS
• 2025-04-04 Listed $149,500 BCSRMLS
• 2015-09-08 Sold (Public Records) — Public Records
• 2005-04-04 Sold (Public Records) — Public Records

Property tax history

+3.5%/yr

Latest (2025): $2,670 · +8.8% YoY. Source: county tax records.