361 N Post Oak Ln #239 · Houston, TX 77024

$165,000

2 bd · 2.0 ba · 1,315 sqft · Condo public records · 304 Days on market

Built 1970 $125/sqft · 8% below area Est $179k · 8% under $736/mo HOA · 38% of rent

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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 +10.9/15.0
• Appreciation +8.5/10.0
• 1% rule +6.6/10.0
• Schools +4.1/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Cash flow +2.7/30.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

The following utilities are included (electric, water, trash, basic cable). 2 bed/2 bath. A bonus study (could be the 3rd bedroom). Double pane windows were just replaced at March 2025. Large living room plus formal dining room overlooking the pool. 2nd floor unit with elevators. 2 covered parking spaces. Refrigerator, washer and dryer are included. Kitchen with lots of storage. Very bright and lots of natural light. Master bedroom with large walk-in closet. Plantation shutters in all windows. Only minutes away from the Galleria. Short distance to downtown. Only minutes away from Memorial Park. Zoned to Spring Branch School District. The listing photos were taken previously.

Key facts

• Formal dining room
• 2nd floor unit
• Double pane windows

Tags

• DOUBLE PANE WINDOWS
• LARGE LIVING ROOM
• FORMAL DINING ROOM
• 2ND FLOOR UNIT
• ELEVATORS
• COVERED PARKING SPACES

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $165k.

Deal economics

• At list price, monthly cash flow is $-622 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $95k (42.3% below list).
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $95k (42.3% below list) — sets the bar for cash-flow.
• Cap rate 2.2% vs local median 3.2% in Houston — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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.
• Spring Branch ISD (urban): math 47% / reading 46% proficiency, ranked #215 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+5.0%/yr); 313 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent is only 17% of the median local income ($136k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $11k appreciation (6.9% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 304 days — a 12% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 9y ago; this cycle's ask has dropped $24k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $79k; list at $165k implies a 109% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; flood insurance adds $66/mo; HOA is 38% of rent.
• Climate carrying-cost: major flood risk; 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 $95,141 (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 304 days. Have you received any prior offers? Is the seller open to a 42% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
7. 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?
8. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
9. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
10. 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?
11. 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?
12. 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?
13. 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.
14. 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.
15. 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: 1.16% ✓
• Cap rate: 2.25%
• Cash-on-cash: -14.44%
• DSCR: 0.36
• GRM: 7.2

CMA / ARV

• ARV (median comp): $178,570
• List price: $165,000
• Delta: -5.36%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

6.92% appreciation · 4.96% rent growth · sell at horizon

5-year hold

• IRR: 6.4%
• Equity multiple: 1.47×
• Total profit: $21,656
• Equity at exit: $113,488

10-year hold

• IRR: 9.5%
• Equity multiple: 3.22×
• Total profit: $102,578
• Equity at exit: $214,807

Cash invested: $46,200 (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 77024

• Home prices YoY: 2.8%
• Rents YoY: 5.0%
• Active inventory: 313
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,912 high
• Mortgage (P&I): −$865
• Tax from tax record: −$396 /mo · $4,757/yr
• Insurance: −$69
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$736
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-622

Break-even live

Break-even rent $2,700

Max offer price $95,141

Occupancy floor —

Sensitivity live

Price	-10% $-529	-5% $-576	+0% $-622	+5% $-669	+10% $-716
Rent	-10% $-773	-5% $-698	+0% $-622	+5% $-547	+10% $-471
Rate	-1.0pp $-539	-0.5pp $-580	base $-622	+0.5pp $-665	+1.0pp $-709

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
499 Carnarvon Dr Houston, TX	2.0	2.0	1171	$1,856	$1.58	25d	1	0.21mi
106 N Post Oak Ln Houston, TX	2.0	2.0	1171	$2,084	$1.78	44d	1	0.55mi
106 N Post Oak Ln Houston, TX	1.0	1.0	963	$1,830	$1.90	25d	1	0.55mi
106 N Post Oak Ln Houston, TX	2.0	2.0	1171	$2,084	$1.78	21d	1	0.55mi
99 N Post Oak Ln Houston, TX	1.0–3.0	1.0–2.0	1252	$2,277	$1.82	3d	14	0.61mi
7105 Old Katy Rd Houston, TX	1.0–2.0	1.0–2.0	907	$2,197	$2.42	0d	44	0.81mi
915 Silber Rd Unit 3187 Houston, TX	3.0	2.0	1300	$1,624	$1.25	0d	1	0.84mi
915 Silber Rd Unit 948 Houston, TX	3.0	2.0	1300	$1,664	$1.28	11d	1	0.84mi
502 S Post Oak Ln Houston, TX	1.0–2.0	1.0–2.0	963	$1,650	$1.71	4d	8	0.84mi
500 Sage Rd Houston, TX	2.0	2.0	1265	$2,775	$2.19	25d	1	0.89mi
5010 Woodway Dr Houston, TX	1.0–2.0	1.0–2.0	736	$1,585	$2.15	44d	1	0.91mi
7111 Old Katy Rd Houston, TX	2.0	1.0	1012	$1,575	$1.56	44d	1	0.93mi
7 Riverway Houston, TX	1.0–2.0	1.0–2.0	1503	$5,869	$3.90	0d	8	0.93mi
7777 Katy Fwy Houston, TX	1.0–2.0	1.0–2.0	1049	$1,928	$1.84	0d	47	0.96mi
1255 N Post Oak Rd Houston, TX	1.0–2.0	1.0–2.0	1065	$1,892	$1.78	0d	23	0.98mi
7100 Old Katy Rd Unit 422 Houston, TX	2.0	2.0	1165	$1,640	$1.41	8d	1	1.05mi
7100 Old Katy Rd Unit 2162 Houston, TX	2.0	2.0	1165	$1,640	$1.41	6d	1	1.05mi
7100 Old Katy Rd Unit 425 Houston, TX	2.0	2.0	1165	$1,624	$1.39	0d	1	1.05mi
7100 Old Katy Rd Unit 2174 Houston, TX	2.0	2.0	1165	$1,675	$1.44	13d	1	1.05mi
7100 Old Katy Rd Unit 7137 Houston, TX	2.0	2.0	1165	$1,664	$1.43	12d	1	1.05mi
7100 Old Katy Rd Unit 2187 Houston, TX	2.0	2.0	1165	$1,665	$1.43	0d	1	1.05mi
807 S Post Oak Ln Houston, TX	1.0–2.0	1.0–2.0	970	$2,123	$2.19	0d	20	1.08mi
1261 N Post Oak Rd Houston, TX	2.0	2.0	1313	$1,568	$1.19	44d	1	1.08mi
813 S Post Oak Ln Houston, TX	3.0	2.0	1580	$3,145	$1.99	44d	1	1.11mi
3939 W 12th St Houston, TX	2.0	1.0–2.0	889	$2,775	$3.12	2d	19	1.21mi
722 International Blvd Houston, TX	1.0–3.0	1.0–3.5	1530	$2,035	$1.33	0d	30	1.21mi
731 International Blvd Unit 100 Houston, TX	2.0	2.0	960	$1,325	$1.38	44d	1	1.21mi
1148 Silber Rd Houston, TX	1.0–2.0	1.0–2.0	935	$2,235	$2.39	3d	52	1.25mi
1300 N Post Oak Rd Houston, TX	1.0	1.0	717	$1,517	$2.11	3d	18	1.25mi
6003 Westview Dr Unit ADD2 Houston, TX	2.0	2.0	1163	$2,175	$1.87	25d	1	1.30mi
6002 Westview Dr Houston, TX	2.0	2.0	1163	$2,175	$1.87	44d	1	1.34mi
8512 Hempstead Rd Houston, TX	3.0	2.0	1151	$1,258	$1.09	44d	1	1.38mi
5700 Green Tree Rd Houston, TX	2.0	2.0	1168	$1,700	$1.46	44d	1	1.38mi
1317 Post Oak Park Dr Houston, TX	1.0–3.0	1.0–2.5	984	$2,414	$2.45	0d	30	1.41mi
58 Briar Hollow Ln Unit 3202 Houston, TX	2.0	2.0	1300	$1,754	$1.35	44d	1	1.44mi
58 Briar Hollow Ln Unit 1258 Houston, TX	2.0	2.0	1298	$2,054	$1.58	44d	1	1.44mi
1200 Post Oak Blvd Houston, TX	1.0–2.0	1.0–2.0	1333	$4,029	$3.02	0d	15	1.47mi
1370 Afton St Unit 1403 Houston, TX	3.0	2.0	1438	$1,513	$1.05	11d	1	1.48mi
1370 Afton St Unit 2165 Houston, TX	2.0	2.0	1100	$1,273	$1.16	0d	1	1.48mi
1370 Afton St Unit 790 Houston, TX	2.0	2.0	1049	$1,097	$1.05	25d	1	1.48mi

HOA detail condo

• Monthly dues: $736 · $8,832/yr
• Likely covers: watertrashelectriccablepool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-21
   pricedays on market $165,000 Active 304 DOM
2. 2026-06-18
   days on market $169,000 Active 301 DOM
3. 2026-06-17
   days on market $169,000 Active 300 DOM
4. 2026-06-16
   days on market $169,000 Active 299 DOM
5. 2026-06-15
   days on market $169,000 Active 298 DOM
6. 2026-06-13
   days on market $169,000 Active 296 DOM
7. 2026-06-09
   days on market $169,000 Active 292 DOM
8. 2026-06-08
   days on market $169,000 Active 291 DOM
9. 2026-06-07
   days on market $169,000 Active 290 DOM
10. 2026-06-04
    days on market $169,000 Active 287 DOM
11. 2026-06-03
    days on market $169,000 Active 286 DOM
12. 2026-06-02
    days on market $169,000 Active 285 DOM
13. 2026-06-01
    days on market $169,000 Active 284 DOM
14. 2026-05-31
    days on market $169,000 Active 283 DOM
15. 2026-03-16
    price $169,000 688-char remark

    Show marketing remark (688 chars)

    The following utilities are included (electric, water, trash, basic cable). 2 bed/2 bath. A bonus study (could be the 3rd bedroom). Double pane windows were just replaced at March 2025. Large living room plus formal dining room overlooking the pool. 2nd floor unit with elevators. 2 covered parking spaces. Refrigerator, washer and dryer are included. Kitchen with lots of storage. Very bright and lots of natural light. Master bedroom with large walk-in closet. Plantation shutters in all windows. Only minutes away from the Galleria. Short distance to downtown. Only minutes away from Memorial Park. Zoned to Spring Branch School District. The listing photos were taken previously.

16. 2026-01-13
    price $178,000 688-char remark

    Show marketing remark (688 chars)

    The following utilities are included (electric, water, trash, basic cable). 2 bed/2 bath. A bonus study (could be the 3rd bedroom). Double pane windows were just replaced at March 2025. Large living room plus formal dining room overlooking the pool. 2nd floor unit with elevators. 2 covered parking spaces. Refrigerator, washer and dryer are included. Kitchen with lots of storage. Very bright and lots of natural light. Master bedroom with large walk-in closet. Plantation shutters in all windows. Only minutes away from the Galleria. Short distance to downtown. Only minutes away from Memorial Park. Zoned to Spring Branch School District. The listing photos were taken previously.

17. 2025-08-21
    listed $189,000 Active 688-char remark

    Show marketing remark (688 chars)

    The following utilities are included (electric, water, trash, basic cable). 2 bed/2 bath. A bonus study (could be the 3rd bedroom). Double pane windows were just replaced at March 2025. Large living room plus formal dining room overlooking the pool. 2nd floor unit with elevators. 2 covered parking spaces. Refrigerator, washer and dryer are included. Kitchen with lots of storage. Very bright and lots of natural light. Master bedroom with large walk-in closet. Plantation shutters in all windows. Only minutes away from the Galleria. Short distance to downtown. Only minutes away from Memorial Park. Zoned to Spring Branch School District. The listing photos were taken previously.

18. 2020-11-12
    historical
19. 2020-10-27
    price $199,000
20. 2020-10-26
    listed $198,000 Active
21. 2020-10-26
    historical
22. 2020-10-13
    listed $210,000 Active
23. 2019-12-04
    soldstatus Sold
24. 2019-11-18
    soldstatus
25. 2019-11-15
    status Pending, Continue to Show
26. 2019-09-09
    listed $199,000 Active
27. 2017-09-02
    historical
28. 2017-07-29
    price $189,900
29. 2017-06-14
    listed $195,000 Active
30. 1999-11-04
    soldstatus
31. 1999-10-01
    soldstatus $79,000

ⓘ 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: $4,757 · $396/mo
• Projected year-2 tax: $4,757 · $396/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,944
• − Mortgage interest: −$9,243
• − Property taxes: −$4,757
• − Insurance: −$1,622
• − Repairs & maintenance: −$1,836
• − Management: −$1,836
• − HOA: −$8,832
• − Depreciation: −$4,800
• Taxable loss: −$9,981
• Est. tax savings @ 24.0%: +$2,395
• After-tax cash flow: $-5,074/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: Spring Branch ISD
• NCES district ID: 4841100
• Math proficiency: 47% ▼ -4.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $60,311
• Composite: 40.88/100
• National rank: #3624
• State rank: #215 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): 38,288
• Household income: $136,149
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 1144.0

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 White (67%)
• Race & ethnicity: White 67% Asian 14% Hispanic / Latino 12% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 4% Slovak 3% Italian 3%
• Foreign-born: 21% · Canada, China, South Korea
• Languages at home: 70% English-only · Spanish 11% Other Indo-European 4% Chinese 4%

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: ▲ 6.92%
• Current HPI: 256.8342
• Rent YoY: ▲ 4.96%
• 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

+113.9% since first listed

17 events — show timeline

• 2026-03-16 Price Changed $169,000 HARMLS
• 2026-01-13 Price Changed $178,000 HARMLS
• 2025-08-21 Listed $189,000 HARMLS
• 2020-11-12 Listing Removed — HARMLS
• 2020-10-27 Price Changed $199,000 HARMLS
• 2020-10-26 Listing Removed — HARMLS
• 2020-10-26 Listed $198,000 HARMLS
• 2020-10-13 Listed $210,000 HARMLS
• 2019-12-04 Sold (MLS) — HARMLS
• 2019-11-18 Sold (Public Records) — Public Records
• 2019-11-15 Pending — HARMLS
• 2019-09-09 Listed $199,000 HARMLS
• 2017-09-02 Listing Removed — HARMLS
• 2017-07-29 Price Changed $189,900 HARMLS
• 2017-06-14 Listed $195,000 HARMLS
• 1999-11-04 Sold (Public Records) — Public Records
• 1999-10-01 Sold (Public Records) $79,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $4,757 · +7.8% YoY. Source: county tax records.