6500 Harbor Town Dr #2808 · Houston, TX 77036

$87,000

2 bd · 2.0 ba · 1,016 sqft · Condo public records · 219 Days on market

Built 1984 $86/sqft · 18% below area Est $106k · 18% under $405/mo HOA · 37% of rent ↓ 12% 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 +15.0/15.0
• 1% rule +7.5/10.0
• Appreciation +4.6/10.0
• Cash flow +3.9/30.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +0.8/5.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome to this beautiful and move-in ready apt! This home features a spacious open-concept living and dining area with a cozy fireplace and sliding glass doors that lead to a private balcony, perfect for relaxing or entertaining. The kitchen offers granite countertops, dark wood cabinetry, and all major appliances, which have been freshly cleaned and are ready for use. The entire apartment and carpet have been professionally cleaned. Bedrooms are generous in size, featuring a ceiling fan and a large closet with ample shelving. Enjoy peaceful mornings on the balcony overlooking a quiet courtyard.

Key facts

• Private balcony
• Cozy fireplace
• Quiet courtyard

Tags

• OPEN-CONCEPT LIVING
• COZY FIREPLACE
• PRIVATE BALCONY
• GRANITE COUNTERTOPS
• DARK WOOD CABINETRY
• QUIET COURTYARD

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $87k.

Deal economics

• At list price, monthly cash flow is $-246 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $50k (42.3% below list).
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $50k (42.3% below list) — sets the bar for cash-flow.

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: Neff El (math 15% / reading 20%, grade F, #3,805 of 4,322 statewide, top 89%, 749 students, 97% FRL); Sugar Grove Academy (math 8% / reading 15%, grade F, #1,629 of 1,662 statewide, top 98%, 841 students, 98% FRL); Sharpstown H S (math 7% / reading 23%, grade F, #1,507 of 1,632 statewide, top 93%, 1,855 students, 89% 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 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 falling (-6.6%/yr); 202 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 $601 of loan paydown is wiped out by about $636 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 219 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $12k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; HOA is 37% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $50,213 (42.3% 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 219 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.25% ✓
• Cap rate: 2.91%
• Cash-on-cash: -12.10%
• DSCR: 0.46
• GRM: 6.7

CMA / ARV

• ARV (median comp): $106,022
• List price: $87,000
• Delta: -17.94%
• 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: -23.7%
• Equity multiple: 0.01×
• Total profit: $-23,999
• Equity at exit: $22,129

10-year hold

• IRR: -22.7%
• Equity multiple: -0.80×
• Total profit: $-43,862
• Equity at exit: $24,213

Cash invested: $24,360 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,090 high
• Mortgage (P&I): −$456
• Tax from tax record: −$209 /mo · $2,511/yr
• Insurance: −$36
• HOA: −$405
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $-246

Break-even live

Break-even rent $1,401

Max offer price $50,213

Occupancy floor —

Sensitivity live

Price	-10% $-196	-5% $-221	+0% $-246	+5% $-270	+10% $-295
Rent	-10% $-332	-5% $-289	+0% $-246	+5% $-203	+10% $-159
Rate	-1.0pp $-202	-0.5pp $-223	base $-246	+0.5pp $-268	+1.0pp $-291

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6602 Harbor Town Dr Houston, TX	1.0–2.0	1.0–2.0	770	$1,200	$1.56	0d	2	0.18mi
8100 Bellaire Blvd Houston, TX	1.0–3.0	1.0–2.0	881	$1,115	$1.26	0d	26	0.35mi
8100 Sands Point Dr Houston, TX	1.0–3.0	1.0–2.0	953	$1,256	$1.32	0d	28	0.35mi
7900 Bellaire Blvd Houston, TX	1.0–3.0	1.0–2.0	942	$1,180	$1.25	19d	1	0.38mi
6200 Marinette Dr Houston, TX	1.0–3.0	1.0–2.5	912	$1,002	$1.10	0d	21	0.42mi
5810 Fondren Rd Houston, TX	1.0–3.0	1.0–2.0	1000	$1,158	$1.16	16d	1	0.45mi
6106 Marinette Dr Houston, TX	2.0	2.0	985	$990	$1.01	25d	1	0.46mi
7506 Bellerive Dr Houston, TX	2.0	2.0	970	$1,100	$1.13	45d	1	0.46mi
7506 Clarewood Dr Houston, TX	1.0	1.0	715	$830	$1.16	45d	1	0.51mi
6203 Marinette Dr Houston, TX	1.0–2.0	1.0–2.0	935	$1,144	$1.22	0d	9	0.52mi
7500 Bellerive Dr Houston, TX	2.0	1.0–2.0	692	$1,055	$1.52	14d	1	0.52mi
7500 Clarewood Dr Houston, TX	2.0	2.0	1025	$1,015	$0.99	16d	1	0.55mi
7637 Harwin Dr Houston, TX	1.0–2.0	1.0	908	$1,119	$1.23	3d	12	0.60mi
7581 Bellaire Blvd Houston, TX	2.0	2.0	834	$1,350	$1.62	25d	1	0.67mi
5959 Bonhomme Rd Houston, TX	2.0	2.0	692	$1,278	$1.85	0d	28	0.80mi
8707 Town Park Dr Unit 3282 Houston, TX	2.0	2.0	975	$1,070	$1.10	45d	1	0.82mi
8707 Town Park Dr Unit 3282 Houston, TX	2.0	2.0	975	$1,070	$1.10	18d	1	0.82mi
5959 Bonhomme Rd Unit 423 Houston, TX	2.0	2.0	853	$986	$1.16	45d	1	0.83mi
8701 Town Park Dr Houston, TX	1.0–2.0	1.0–2.0	890	$1,275	$1.43	0d	75	0.83mi
7211 Bellerive Dr Houston, TX	1.0	1.0	807	$1,153	$1.43	45d	1	0.92mi
9221 Pagewood Ln Unit 2162 Houston, TX	2.0	2.0	804	$1,015	$1.26	9d	1	0.98mi
9221 Pagewood Ln Unit 2047 Houston, TX	2.0	2.0	804	$1,050	$1.31	12d	1	0.98mi
9221 Pagewood Ln Unit 2047 Houston, TX	2.0	2.0	804	$1,040	$1.29	0d	1	0.98mi
5815 Gulfton St Houston, TX	1.0	1.0	855	$940	$1.10	45d	1	1.04mi
8336 Carvel Ln Houston, TX	2.0	1.0	955	$1,070	$1.12	45d	1	1.06mi
3401 Ocee St Houston, TX	2.0	1.0	825	$940	$1.14	45d	1	1.10mi
7222 S Gessner Rd Houston, TX	2.0–3.0	2.0	1069	$1,020	$0.95	15d	1	1.11mi
3777 S Gessner Rd Unit 1801 WD Houston, TX	2.0	1.0	876	$1,140	$1.30	45d	1	1.12mi
3777 S Gessner Rd Unit 1811 WD Houston, TX	2.0	1.0	876	$1,140	$1.30	9d	1	1.12mi
3777 S Gessner Rd Unit 0315** WD Houston, TX	2.0	1.0	876	$1,240	$1.42	45d	1	1.12mi
10010 Westpark Dr Unit 1104 Houston, TX	1.0	1.0	710	$1,069	$1.51	25d	1	1.23mi
6960 Bellaire Blvd Houston, TX	1.0	1.0	713	$945	$1.33	22d	1	1.24mi
6960 Bellaire Blvd Houston, TX	1.0	1.0	727	$935	$1.29	45d	1	1.24mi
9198 Richmond Ave Houston, TX	1.0	1.0	753	$1,225	$1.63	18d	1	1.25mi
5909 Ranchester Dr Unit 2162 Houston, TX	2.0	2.0	767	$912	$1.19	8d	1	1.25mi
5909 Ranchester Dr Unit 2165 Houston, TX	2.0	2.0	767	$896	$1.17	0d	1	1.25mi
9201 Clarewood Dr Houston, TX	2.0	2.0	1250	$1,400	$1.12	45d	1	1.29mi
9226 Clarewood Dr Houston, TX	2.0	2.0	1070	$1,078	$1.01	23d	1	1.33mi
9207 Clarewood Dr Houston, TX	2.0	2.0	1060	$1,154	$1.09	25d	1	1.33mi
9226 Clarewood Dr Houston, TX	3.0	2.0	1400	$1,358	$0.97	45d	1	1.33mi

HOA detail condo

• Monthly dues: $405 · $4,860/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $87,000 Active 219 DOM
2. 2026-06-18
   days on market $87,000 Active 216 DOM
3. 2026-06-17
   days on market $87,000 Active 215 DOM
4. 2026-06-16
   days on market $87,000 Active 214 DOM
5. 2026-06-15
   days on market $87,000 Active 213 DOM
6. 2026-06-13
   days on market $87,000 Active 211 DOM
7. 2026-06-10
   days on market $87,000 Active 207 DOM
8. 2026-06-08
   days on market $87,000 Active 206 DOM
9. 2026-06-07
   days on market $87,000 Active 205 DOM
10. 2026-06-04
    days on market $87,000 Active 202 DOM
11. 2026-06-01
    days on market $87,000 Active 199 DOM
12. 2026-05-31
    days on market $87,000 Active 198 DOM
13. 2026-04-07
    price $87,000 603-char remark

    Show marketing remark (603 chars)

    Welcome to this beautiful and move-in ready apt! This home features a spacious open-concept living and dining area with a cozy fireplace and sliding glass doors that lead to a private balcony, perfect for relaxing or entertaining. The kitchen offers granite countertops, dark wood cabinetry, and all major appliances, which have been freshly cleaned and are ready for use. The entire apartment and carpet have been professionally cleaned. Bedrooms are generous in size, featuring a ceiling fan and a large closet with ample shelving. Enjoy peaceful mornings on the balcony overlooking a quiet courtyard.

14. 2026-03-23
    status Active 603-char remark

    Show marketing remark (603 chars)

    Welcome to this beautiful and move-in ready apt! This home features a spacious open-concept living and dining area with a cozy fireplace and sliding glass doors that lead to a private balcony, perfect for relaxing or entertaining. The kitchen offers granite countertops, dark wood cabinetry, and all major appliances, which have been freshly cleaned and are ready for use. The entire apartment and carpet have been professionally cleaned. Bedrooms are generous in size, featuring a ceiling fan and a large closet with ample shelving. Enjoy peaceful mornings on the balcony overlooking a quiet courtyard.

15. 2026-03-19
    historical 603-char remark

    Show marketing remark (603 chars)

    Welcome to this beautiful and move-in ready apt! This home features a spacious open-concept living and dining area with a cozy fireplace and sliding glass doors that lead to a private balcony, perfect for relaxing or entertaining. The kitchen offers granite countertops, dark wood cabinetry, and all major appliances, which have been freshly cleaned and are ready for use. The entire apartment and carpet have been professionally cleaned. Bedrooms are generous in size, featuring a ceiling fan and a large closet with ample shelving. Enjoy peaceful mornings on the balcony overlooking a quiet courtyard.

16. 2026-02-23
    status Active 603-char remark

    Show marketing remark (603 chars)

    Welcome to this beautiful and move-in ready apt! This home features a spacious open-concept living and dining area with a cozy fireplace and sliding glass doors that lead to a private balcony, perfect for relaxing or entertaining. The kitchen offers granite countertops, dark wood cabinetry, and all major appliances, which have been freshly cleaned and are ready for use. The entire apartment and carpet have been professionally cleaned. Bedrooms are generous in size, featuring a ceiling fan and a large closet with ample shelving. Enjoy peaceful mornings on the balcony overlooking a quiet courtyard.

17. 2026-02-20
    historical 603-char remark

    Show marketing remark (603 chars)

    Welcome to this beautiful and move-in ready apt! This home features a spacious open-concept living and dining area with a cozy fireplace and sliding glass doors that lead to a private balcony, perfect for relaxing or entertaining. The kitchen offers granite countertops, dark wood cabinetry, and all major appliances, which have been freshly cleaned and are ready for use. The entire apartment and carpet have been professionally cleaned. Bedrooms are generous in size, featuring a ceiling fan and a large closet with ample shelving. Enjoy peaceful mornings on the balcony overlooking a quiet courtyard.

18. 2026-02-03
    price $89,000 603-char remark

    Show marketing remark (603 chars)

    Welcome to this beautiful and move-in ready apt! This home features a spacious open-concept living and dining area with a cozy fireplace and sliding glass doors that lead to a private balcony, perfect for relaxing or entertaining. The kitchen offers granite countertops, dark wood cabinetry, and all major appliances, which have been freshly cleaned and are ready for use. The entire apartment and carpet have been professionally cleaned. Bedrooms are generous in size, featuring a ceiling fan and a large closet with ample shelving. Enjoy peaceful mornings on the balcony overlooking a quiet courtyard.

19. 2026-01-18
    price $94,000 603-char remark

    Show marketing remark (603 chars)

    Welcome to this beautiful and move-in ready apt! This home features a spacious open-concept living and dining area with a cozy fireplace and sliding glass doors that lead to a private balcony, perfect for relaxing or entertaining. The kitchen offers granite countertops, dark wood cabinetry, and all major appliances, which have been freshly cleaned and are ready for use. The entire apartment and carpet have been professionally cleaned. Bedrooms are generous in size, featuring a ceiling fan and a large closet with ample shelving. Enjoy peaceful mornings on the balcony overlooking a quiet courtyard.

20. 2025-11-07
    listed $99,000 Active 603-char remark

    Show marketing remark (603 chars)

    Welcome to this beautiful and move-in ready apt! This home features a spacious open-concept living and dining area with a cozy fireplace and sliding glass doors that lead to a private balcony, perfect for relaxing or entertaining. The kitchen offers granite countertops, dark wood cabinetry, and all major appliances, which have been freshly cleaned and are ready for use. The entire apartment and carpet have been professionally cleaned. Bedrooms are generous in size, featuring a ceiling fan and a large closet with ample shelving. Enjoy peaceful mornings on the balcony overlooking a quiet courtyard.

21. 2005-12-15
    soldstatus
22. 2005-11-28
    soldstatus
23. 2000-07-25
    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: $2,511 · $209/mo
• Projected year-2 tax: $2,511 · $209/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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 23 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: $13,080
• − Mortgage interest: −$4,873
• − Property taxes: −$2,511
• − Insurance: −$435
• − Repairs & maintenance: −$1,046
• − Management: −$1,046
• − HOA: −$4,860
• − Depreciation: −$2,531
• Taxable loss: −$4,223
• Est. tax savings @ 24.0%: +$1,013
• After-tax cash flow: $-1,934/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

-12.1% since first listed

11 events — show timeline

• 2026-04-07 Price Changed $87,000 HARMLS
• 2026-03-23 Relisted — HARMLS
• 2026-03-19 Listing Removed — HARMLS
• 2026-02-23 Relisted — HARMLS
• 2026-02-20 Listing Removed — HARMLS
• 2026-02-03 Price Changed $89,000 HARMLS
• 2026-01-18 Price Changed $94,000 HARMLS
• 2025-11-07 Listed $99,000 HARMLS
• 2005-12-15 Sold (Public Records) — Public Records
• 2005-11-28 Sold (Public Records) — Public Records
• 2000-07-25 Sold (Public Records) — Public Records

Property tax history

+2.6%/yr

Latest (2025): $2,511 · +1.5% YoY. Source: county tax records.