2035 Country Village Blvd Unit B

Humble, TX 77338

$104,999C-

2 bd · 1.5 ba · 1,541 sqft · Built 1983 · Townhouse · Active Under Contract · 104 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,567/mo
• Mortgage (P&I): −$551
• Tax + insurance: −$297
• HOA: −$440
• Vac / Maint / Mgmt: −$329
• Net cashflow: $-50/mo
• Annual: $-597/yr
• Cap rate: 5.72%
• Cash-on-cash: -2.03%
• DSCR: 0.91
• 1% rule: 1.49%
• Cash to close: $29,400

Investor read

• This is a 2-bed/1.5-bath townhouse listed at $105k.
• At list price, monthly cash flow is $-50 ($-597/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (8.4% below list).
• Meets the 1% rule at list price ($2k rent vs $105k).
• It's been on market 104 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• Local home prices are declining (-0.8%/yr); year-one equity from $726 of loan paydown is wiped out by about $813 of value loss. Plan a longer hold.
• Location reads 62/100 on livability (#961 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: employment D+, crime F, amenities F.
• Humble ISD (urban): math 38% / reading 44% proficiency, ranked #262 of 826 in TX (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lakeland El (math 18% / reading 19%, grade F, #3,759 of 4,322 statewide, top 88%, 868 students, 90% FRL); Ross Sterling Middle (math 30% / reading 27%, grade F, #1,122 of 1,662 statewide, top 69%, 919 students, 85% FRL); Humble H S (math 15% / reading 31%, grade F, #1,348 of 1,632 statewide, top 83%, 2,867 students, 77% FRL) — zoned schools average 84% FRL vs 32% district-wide (52 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 23% at this address vs 41% district-wide (-18 pts) — the specific schools serving this property underperform the Humble ISD average; the district grade overstates school quality for this exact location.
• Watch-outs: property tax is 2.9% of price; HOA is 28% of rent.
• Market conditions: Rents rising (+2.2%/yr); 312 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 24y 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.
• Current owner paid $39k; list at $105k implies a 171% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.7% vs local median 3.8% in Humble — 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.

Questions for listing agent

• 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?
• It's been on market 104 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?