12905 Woodforest Blvd #601 · Houston, TX 77015

$62,000

1 bd · 1.0 ba · 752 sqft · Condo public records · 51 Days on market

Built 1982 $82/sqft · 13% below area Est $71k · 13% under $315/mo HOA · 30% of rent

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Why this score? — see what drove the C- 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).

• Cash flow +15.3/30.0
• ARV discount +13.2/15.0
• 1% rule +10.0/10.0
• DSCR +4.7/10.0
• Livability +3.7/5.0
• Schools +2.8/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very well maintained 1 bedroom/1bath. Parking is close to the unit. Property is gated. Close to shopping and bus line.

Key facts

• Gated community
• Community pool
• $315 HOA

Tags

• GATED COMMUNITY
• ASSIGNED COVERED PARKING
• COMMUNITY POOL
• WHITE BRICK FIREPLACE

Property features AI

Finance

• Financial info: Lease considered
• HOA & community: Prestige Association Mgmnt. Group; Monthly association fee (includes common area and structure maintenance); Community pool

Exterior

• Parking: Laundry area accessed from garage (laundry in garage)
• Security: Security gate; Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Residential condo; One story; Full ownership; Built in 1982
• Construction: Brick and wood siding exterior; Composition roof; Slab foundation
• Exterior features: Community/association pool; Security gate; Smoke detector(s); Asphalt and concrete road surfaces

Interior

• Kitchen: Electric range/oven; Microwave; Dishwasher; Refrigerator; Breakfast nook (approx. 8 x 8)
• Bedrooms: Primary bedroom on first floor (approx. 12 x 15)
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom (primary bathroom on first floor, approx. 4 x 8)
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Ceiling fan(s); Decorative fireplace (1)
• Laundry & utility: Washer and dryer included; Laundry in garage; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $62k.

Deal economics

• At list price, monthly cash flow is $23 ($276/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $60k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.7% 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: crime F.
• Galena Park ISD (suburban): math 32% / reading 33% proficiency, ranked #578 of 826 in TX (top 70%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Normandy Crossing El (math 30% / reading 28%, grade F, #2,668 of 4,322 statewide, top 63%, 660 students, 90% FRL); Cunningham Middle (math 29% / reading 35%, grade F, #971 of 1,662 statewide, top 60%, 928 students, 89% FRL); North Shore Senior High (math 35% / reading 40%, grade F, #888 of 1,632 statewide, top 55%, 4,569 students, 86% FRL).
• Market conditions: Rents soft (-0.8%/yr); 162 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 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 (-3.0%/yr); year-one equity from $429 of loan paydown is wiped out by about $2k 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 51 days — a 3% lower offer ($60k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y ago; this cycle's ask is 6259% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $11k; list at $62k implies a 451% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $60,140 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.67% ✓
• Cap rate: 6.74%
• Cash-on-cash: 1.59%
• DSCR: 1.07
• GRM: 5.0

CMA / ARV

• ARV (median comp): $71,039
• List price: $62,000
• Delta: -12.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.34×
• Total profit: $-11,371
• Equity at exit: $9,244

10-year hold

• IRR: -34.8%
• Equity multiple: -0.08×
• Total profit: $-18,752
• Equity at exit: $5,361

Cash invested: $17,360 (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 77015

• Home prices YoY: -10.8%
• Rents YoY: -0.8%
• Active inventory: 162
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,034 high
• Mortgage (P&I): −$325
• Tax from tax record: −$128 /mo · $1,538/yr
• Insurance: −$26
• HOA: −$315
• Vacancy / Maint / Mgmt: −$217
• Net cashflow: $23

Break-even live

Break-even rent $1,005

Max offer price $62,000

Occupancy floor 93%

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12905 Woodforest Blvd Houston, TX	2.0	1.0	886	$1,098	$1.24	20d	2	0.03mi
12955 Woodforest Blvd Unit 305 Houston, TX	1.0	1.0	728	$975	$1.34	24d	1	0.07mi
12800 Woodforest Blvd Unit 12857 Houston, TX	2.0	2.0	850	$1,126	$1.32	2d	1	0.08mi
456 Normandy St Houston, TX	1.0	1.0	734	$1,099	$1.50	43d	1	0.35mi
13161 Woodforest Blvd Houston, TX	2.0	2.0	965	$1,058	$1.10	43d	1	0.36mi
536 Normandy St Houston, TX	2.0	2.0	860	$1,144	$1.33	43d	1	0.44mi
555 Normandy St Houston, TX	1.0–2.0	1.0–2.0	745	$818	$1.10	2d	23	0.50mi
561 Normandy St Houston, TX	2.0	2.0	940	$1,200	$1.28	22d	1	0.51mi
561 Normandy St Houston, TX	1.0	1.0	680	$999	$1.47	24d	1	0.51mi
561 Normandy St Houston, TX	2.0	2.0	940	$1,200	$1.28	43d	1	0.51mi
695 Normandy St Houston, TX	1.0–2.0	1.0–2.0	788	$899	$1.14	12d	30	0.58mi
250 Uvalde Rd Houston, TX	1.0–3.0	1.0–2.0	909	$739	$0.81	2d	26	0.71mi
13025 Joliet St Unit A Houston, TX	1.0	1.0	842	$925	$1.10	24d	1	0.72mi
316 White Cedar St Houston, TX	1.0	1.0	712	$1,035	$1.45	22d	1	0.80mi
316 White Cedar St Houston, TX	2.0	2.0	1028	$1,306	$1.27	24d	1	0.80mi
316 White Cedar St Houston, TX	1.0	1.0	712	$1,035	$1.45	19d	1	0.80mi
14340 Wallisville Rd Unit 2047 Houston, TX	2.0	2.0	940	$1,425	$1.52	11d	1	0.81mi
14340 Wallisville Rd Unit 1162 Houston, TX	1.0	1.0	670	$1,080	$1.61	5d	1	0.81mi
14340 Wallisville Rd Unit 2148 Houston, TX	2.0	2.0	940	$1,382	$1.47	2d	1	0.81mi
14340 Wallisville Rd Unit 2162 Houston, TX	2.0	2.0	940	$1,390	$1.48	5d	1	0.81mi
14340 Wallisville Rd Houston, TX	1.0	1.0	670	$1,069	$1.60	12d	1	0.81mi
14340 Wallisville Rd Unit 325 Houston, TX	1.0	1.0	670	$1,077	$1.61	2d	1	0.81mi
14346 Wallisville Rd Houston, TX	2.0	2.0	936	$1,360	$1.45	43d	1	0.81mi
14340 Wallisville Rd Unit 14361 Houston, TX	1.0	1.0	670	$1,077	$1.61	2d	1	0.82mi
14340 Wallisville Rd Unit 14397 Houston, TX	2.0	2.0	936	$1,410	$1.51	43d	1	0.82mi
14340 Wallisville Rd Unit 14391 Houston, TX	1.0	1.0	669	$1,090	$1.63	43d	1	0.82mi
14340 Wallisville Rd Unit 425 Houston, TX	2.0	2.0	940	$1,382	$1.47	2d	1	0.82mi
14340 Wallisville Rd Unit 14361 Houston, TX	1.0	1.0	669	$1,095	$1.64	12d	1	0.82mi
14340 Wallisville Rd Unit 14377 Houston, TX	2.0	2.0	940	$1,414	$1.50	10d	1	0.82mi
353 Audrey Ln Unit 365 1/2 Houston, TX	2.0	1.0	800	$1,375	$1.72	43d	1	0.86mi
14445 Wallisville Rd Houston, TX	2.0	1.0–2.0	659	$976	$1.48	1d	10	0.93mi
5675 Purple Sage Rd Houston, TX	1.0–2.0	1.0–2.0	782	$1,039	$1.33	3d	18	0.93mi
799 Normandy St Houston, TX	1.0–2.0	1.0–2.0	843	$929	$1.10	1d	13	0.94mi
13502 N Thorntree Dr Unit 13523 Houston, TX	1.0	1.0	635	$869	$1.37	12d	1	0.97mi
13502 N Thorntree Dr Unit 13553 Houston, TX	1.0	1.0	635	$864	$1.36	43d	1	0.97mi
13502 N Thorntree Dr Unit 424 Houston, TX	2.0	2.0	766	$939	$1.23	5d	1	0.97mi
13502 N Thorntree Dr Unit 425 Houston, TX	2.0	2.0	766	$963	$1.26	10d	1	0.97mi
13502 N Thorntree Dr Unit 13523 Houston, TX	1.0	1.0	583	$781	$1.34	2d	1	0.97mi
12516 Orleans St Houston, TX	2.0	2.0	995	$1,275	$1.28	24d	1	0.97mi
13502 N Thorntree Dr Unit 1047 Houston, TX	1.0	1.0	583	$824	$1.41	11d	1	0.97mi

HOA detail condo

• Monthly dues: $315 · $3,780/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-18
   days on market $62,000 Active 51 DOM
2. 2026-06-17
   days on market $62,000 Active 50 DOM
3. 2026-06-16
   days on market $62,000 Active 49 DOM
4. 2026-06-15
   days on market $62,000 Active 48 DOM
5. 2026-06-13
   days on market $62,000 Active 46 DOM
6. 2026-06-13
   days on market $62,000 Active 45 DOM
7. 2026-06-09
   days on market $62,000 Active 42 DOM
8. 2026-06-08
   days on market $62,000 Active 41 DOM
9. 2026-06-07
   days on market $62,000 Active 40 DOM
10. 2026-06-04
    days on market $62,000 Active 37 DOM
11. 2026-06-03
    days on market $62,000 Active 36 DOM
12. 2026-06-02
    days on market $62,000 Active 35 DOM
13. 2026-06-01
    days on market $62,000 Active 34 DOM
14. 2026-05-31
    days on market $62,000 Active 33 DOM
15. 2026-04-30
    listed $975
16. 2026-04-28
    listed $62,000 Active 592-char remark
17. 2026-04-14
    historical
18. 2025-11-07
    listed $64,000 Active
19. 2025-10-29
    historical $895
20. 2025-10-03
    listed $895
21. 2025-10-02
    historical $895
22. 2025-07-12
    listed $895
23. 2024-03-08
    historical $895
24. 2023-12-22
    listed $895
25. 2018-09-26
    soldstatus
26. 2018-07-05
    soldstatus
27. 2018-07-02
    soldstatus Sold

    Show marketing remark (118 chars)

    Very well maintained 1 bedroom/1bath. Parking is close to the unit. Property is gated. Close to shopping and bus line.

28. 2018-06-29
    status Pending

    Show marketing remark (118 chars)

    Very well maintained 1 bedroom/1bath. Parking is close to the unit. Property is gated. Close to shopping and bus line.

29. 2018-06-26
    status Option Pending

    Show marketing remark (118 chars)

    Very well maintained 1 bedroom/1bath. Parking is close to the unit. Property is gated. Close to shopping and bus line.

30. 2018-05-14
    listed $43,900 Active

    Show marketing remark (118 chars)

    Very well maintained 1 bedroom/1bath. Parking is close to the unit. Property is gated. Close to shopping and bus line.

31. 2015-07-24
    soldstatus
32. 1988-01-20
    soldstatus $11,250

ⓘ 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: $1,538 · $128/mo
• Projected year-2 tax: $1,538 · $128/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥109°F today · 26 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: $12,412
• − Mortgage interest: −$3,473
• − Property taxes: −$1,538
• − Insurance: −$310
• − Repairs & maintenance: −$993
• − Management: −$993
• − HOA: −$3,780
• − Depreciation: −$1,804
• Taxable loss: −$478
• Est. tax savings @ 24.0%: +$115
• After-tax cash flow: $391/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: Galena Park ISD
• NCES district ID: 4820250
• Math proficiency: 32% ▼ -20.00%
• Reading proficiency: 33% ▼ -7.00%
• Median HH income: $43,158
• Composite: 27.62/100
• National rank: #6927
• State rank: #578 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

• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 58,415
• Household income: $57,753
• Rent vs Own: 46.8% rent · 53.2% own
• Severe rent burden: 1816.0

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 (77%)
• Race & ethnicity: Hispanic / Latino 77% Two or more races 54% Black 14% White 6% Asian 1% Native American 1%
• Hispanic origin (detail): Mexican 60% Cuban 2%
• Foreign-born: 33% · Canada, Vietnam
• Languages at home: 31% English-only · Spanish 68% Vietnamese 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: ▼ -36.47%
• Current HPI: 300.1821
• Rent YoY: ▼ -0.83%
• 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

+451.1% since first listed

19 events — show timeline

• 2026-05-29 Price Changed $925 HARMLS
• 2026-04-30 Listed for Rent $975 HARMLS
• 2026-04-28 Listed $62,000 HARMLS
• 2026-04-14 Listing Removed — HARMLS
• 2025-11-07 Listed $64,000 HARMLS
• 2025-10-29 Rental Removed $895 HARMLS
• 2025-10-03 Listed for Rent $895 HARMLS
• 2025-10-02 Rental Removed $895 HARMLS
• 2025-07-12 Listed for Rent $895 HARMLS
• 2024-03-08 Rental Removed $895 HARMLS
• 2023-12-22 Listed for Rent $895 HARMLS
• 2018-09-26 Sold (Public Records) — Public Records
• 2018-07-05 Sold (Public Records) — Public Records
• 2018-07-02 Sold (MLS) — HARMLS
• 2018-06-29 Pending — HARMLS
• 2018-06-26 Pending — HARMLS
• 2018-05-14 Listed $43,900 HARMLS
• 2015-07-24 Sold (Public Records) — Public Records
• 1988-01-20 Sold (Public Records) $11,250 Public Records

Property tax history

+10.3%/yr

Latest (2025): $1,538 · +19.8% YoY. Source: county tax records.