7980 Grove Ridge Dr · Houston, TX 77061

$84,900

2 bd · 1.5 ba · 1,122 sqft · Townhouse public records · 40 Days on market

Built 1972 680 sqft lot $76/sqft · 13% below area Est $98k · 13% under $440/mo HOA · 37% of rent ↓ 9% 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 +13.5/15.0
• 1% rule +9.0/10.0
• Cash flow +6.9/30.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE IMPROVED! Move in ready and beautifully updated, this fully remodeled townhouse offers outstanding VALUE! Recent upgrades include all new FLOORING, fresh interior designer-pallet PAINT, new APPLIANCES, solid-surface COUNTERTOPS, updated BLINDS, and new HVAC. The efficient layout features a welcoming ENTRY with HALF-BATH, spacious KITCHEN and a large LIVING ROOM/DEN, complemented by a private PATIO and a covered CARPORT. Upstairs are two large BEDROOMS oversized CLOSETS and a HALL BATH. Ample storage in the Living Room, Carport, Hall Bath, and Upstairs Hall. This is low-maintenance living and a price point rarely seen for this level of renovation. Don't miss this cost-effective opportunity that is perfect for first-time homebuyers, right-sizers, or investors seeking strong value in Houston's burgeoning southeast side.

Key facts

• New hvac
• New flooring
• Updated blinds

Tags

• FULLY REMODELED TOWNHOUSE
• NEW FLOORING
• NEW APPLIANCES
• SOLID-SURFACE COUNTERTOPS
• UPDATED BLINDS
• NEW HVAC

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $85k.

Deal economics

• At list price, monthly cash flow is $-129 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $62k (26.9% below list).
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $62k (26.9% below list) — sets the bar for cash-flow.
• Cap rate 4.5% 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: schools D, 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.
• Market conditions: Rents soft (-0.3%/yr); 48 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 42% of comp listings sitting > 30 days — soft ceiling on asking rent; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 32% of the median local income ($45k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $587 of loan paydown is wiped out by about $3k 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 40 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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

• Watch-outs: 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,093 (26.9% 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 40 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 1.40% ✓
• Cap rate: 4.47%
• Cash-on-cash: -6.52%
• DSCR: 0.71
• GRM: 5.9

CMA / ARV

• ARV (median comp): $98,000
• List price: $84,900
• Delta: -13.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7980 Grove Ridge Dr	0.00mi	2/1.5	1,122 (0%)	0mo	$84,900	$76	100
7819 Leonora St	0.15mi	2/1.5	1,122 (0%)	5mo	$95,000	$85	89
7908 Grove Ridge Dr	0.06mi	2/1.5	1,156 (+3%)	6mo	$84,900	$73	87
7763 Leonora St	0.10mi	2/1.5	1,122 (0%)	10mo	$80,000	$71	87
7950 Grove Ridge Dr	0.02mi	2/1.5	1,156 (+3%)	9mo	$106,000	$92	86
7827 Leonora St	0.16mi	2/1.5	1,122 (0%)	11mo	$59,900	$53	84
7958 Grove Ridge Dr	0.03mi	2/1.5	1,156 (+3%)	15mo	$115,000	$99	81
7849 Leonora St	0.11mi	2/1.5	1,122 (0%)	18mo	$119,000	$106	80
7916 Leonora St Unit A8	0.11mi	2/1.5	1,216 (+8%)	11mo	$89,950	$74	72
7938 Leonora St Unit B19	0.12mi	2/2.5	1,216 (+8%)	7mo	$114,500	$94	71
8200 Broadway St #116	0.44mi	2/2.0	1,018 (-9%)	22mo	$86,000	$84	44

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -34.2%
• Equity multiple: -0.06×
• Total profit: $-25,155
• Equity at exit: $12,659

10-year hold

• IRR: -94.9%
• Equity multiple: -0.88×
• Total profit: $-44,700
• Equity at exit: $7,341

Cash invested: $23,772 (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 77061

• Home prices YoY: -19.7%
• Rents YoY: -0.3%
• Active inventory: 48
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,191 high
• Mortgage (P&I): −$445
• Tax from tax record: −$149 /mo · $1,791/yr
• Insurance: −$35
• HOA: −$440
• Vacancy / Maint / Mgmt: −$250
• Net cashflow: $-129

Break-even live

Break-even rent $1,354

Max offer price $62,093

Occupancy floor —

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7901 Leonora St Houston, TX	1.0–2.0	1.0	750	$1,245	$1.66	5d	10	0.08mi
8101 Leonora St Houston, TX	1.0–2.0	1.0–2.0	975	$1,300	$1.33	2d	4	0.11mi
8100 Leonora St Houston, TX	2.0–3.0	2.0–2.5	1575	$1,200	$0.76	43d	3	0.14mi
8100 Leonora St Houston, TX	2.0–3.0	2.0–2.5	1575	$1,300	$0.83	19d	2	0.14mi
7952 Leonora St Houston, TX	2.0	2.5	1300	$1,350	$1.04	43d	1	0.14mi
7661 Bellfort Ave Houston, TX	2.0	2.0	930	$1,349	$1.45	20d	1	0.27mi
7623 Pecan Villas Dr Unit 7 Houston, TX	2.0	1.0	800	$1,050	$1.31	43d	1	0.36mi
4143 Dover Ave Houston, TX	2.0	1.0	880	$1,065	$1.21	43d	1	0.44mi
7615 Grahamcrest Dr Houston, TX	1.0–2.0	1.0	778	$1,095	$1.41	1d	9	0.48mi
8501 Broadway St Houston, TX	1.0–2.0	1.0–2.0	764	$938	$1.23	43d	18	0.81mi
8629 Dover St Houston, TX	2.0	2.0	1050	$940	$0.90	16d	1	0.92mi
8629 Dover St Houston, TX	2.0	2.0	1050	$940	$0.90	18d	1	0.92mi
7950 Bellfort St Houston, TX	1.0–2.0	1.0–2.0	796	$1,142	$1.43	1d	15	0.99mi
8757 Broadway St Houston, TX	2.0	2.0	1050	$890	$0.85	43d	1	1.10mi
7437 Southway Dr Houston, TX	2.0	1.0	714	$920	$1.29	43d	1	1.25mi
8445 Winkler Dr Houston, TX	1.0	1.0	704	$800	$1.14	24d	1	1.30mi
3505 Evergreen Dr Houston, TX	2.0	2.0	974	$1,150	$1.18	18d	1	1.36mi
3505 Evergreen Dr Houston, TX	2.0	2.0	974	$1,150	$1.18	19d	1	1.36mi
8535 Winkler Dr Houston, TX	2.0	1.0	874	$900	$1.03	43d	1	1.38mi

HOA detail

• Monthly dues: $440 · $5,280/yr

Listing history 17 events

1. 2026-05-31
   days on market $84,900 Pending 40 DOM
2. 2026-04-21
   listed $84,900 Active 834-char remark

   Show marketing remark (834 chars)

   PRICE IMPROVED! Move in ready and beautifully updated, this fully remodeled townhouse offers outstanding VALUE! Recent upgrades include all new FLOORING, fresh interior designer-pallet PAINT, new APPLIANCES, solid-surface COUNTERTOPS, updated BLINDS, and new HVAC. The efficient layout features a welcoming ENTRY with HALF-BATH, spacious KITCHEN and a large LIVING ROOM/DEN, complemented by a private PATIO and a covered CARPORT. Upstairs are two large BEDROOMS oversized CLOSETS and a HALL BATH. Ample storage in the Living Room, Carport, Hall Bath, and Upstairs Hall. This is low-maintenance living and a price point rarely seen for this level of renovation. Don't miss this cost-effective opportunity that is perfect for first-time homebuyers, right-sizers, or investors seeking strong value in Houston's burgeoning southeast side.

3. 2026-04-16
   historical $1,450
4. 2026-04-15
   historical
5. 2026-02-16
   price $90,000
6. 2026-02-06
   price $95,000
7. 2026-01-27
   price $99,000
8. 2026-01-11
   listed $1,450
9. 2026-01-10
   listed $109,000 Active
10. 2023-08-14
    soldstatus
11. 2023-08-11
    soldstatus Sold
12. 2023-08-04
    status Pending
13. 2023-07-29
    status Option Pending
14. 2023-07-22
    listed $93,000 Active
15. 2019-09-30
    soldstatus
16. 2018-04-18
    soldstatus
17. 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: $1,791 · $149/mo
• Projected year-2 tax: $1,791 · $149/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 (shaded) · 66% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 25 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: $14,289
• − Mortgage interest: −$4,756
• − Property taxes: −$1,791
• − Insurance: −$424
• − Repairs & maintenance: −$1,143
• − Management: −$1,143
• − HOA: −$5,280
• − Depreciation: −$2,470
• Taxable loss: −$2,718
• Est. tax savings @ 24.0%: +$652
• After-tax cash flow: $-897/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): 24,004
• Household income: $45,115
• Rent vs Own: 62.1% rent · 37.9% own
• Severe rent burden: 1546.0

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 Hispanic (64%)
• Race & ethnicity: Hispanic / Latino 64% Black 21% Two or more races 20% White 7% Asian 6% Native American 3%
• Hispanic origin (detail): Mexican 42% Puerto Rican 2% Cuban 2%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 37% · Canada, Vietnam
• Languages at home: 35% English-only · Spanish 58% Vietnamese 6% French/Haitian/Cajun 1%

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: ▼ -74.75%
• Current HPI: 303.8705
• Rent YoY: ▼ -0.30%
• 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

-8.7% since first listed

16 events — show timeline

• 2026-04-21 Listed $84,900 HARMLS
• 2026-04-16 Rental Removed $1,450 HARMLS
• 2026-04-15 Listing Removed — HARMLS
• 2026-02-16 Price Changed $90,000 HARMLS
• 2026-02-06 Price Changed $95,000 HARMLS
• 2026-01-27 Price Changed $99,000 HARMLS
• 2026-01-11 Listed for Rent $1,450 HARMLS
• 2026-01-10 Listed $109,000 HARMLS
• 2023-08-14 Sold (Public Records) — Public Records
• 2023-08-11 Sold (MLS) — HARMLS
• 2023-08-04 Pending — HARMLS
• 2023-07-29 Pending — HARMLS
• 2023-07-22 Listed $93,000 HARMLS
• 2019-09-30 Sold (Public Records) — Public Records
• 2018-04-18 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,791 · -7.5% YoY. Source: county tax records.