10546 Hammerly Blvd #323 · Houston, TX 77043

$149,850

3 bd · 2.5 ba · 2,062 sqft · Townhouse public records · 100 Days on market

Built 1970 1,956 sqft lot $73/sqft · 26% below area Est $202k · 26% under $388/mo HOA · 21% 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 +15.0/15.0
• Cash flow +8.0/30.0
• 1% rule +7.6/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Handsome townhouse in a mature, homey community! I wouldn't quite call it a fixer upper but it definitely needs some work - is priced accordingly. A lot of fixtures/fittings/finishes (such as tiles, cabinets, fans) are savable. All appliances to stay. HOA responsible for (most) exterior repairs. Thank you for considering our listing!

Key facts

• $388 HOA
• 2 parking spots
• Built 1970

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath townhouse listed at $150k.

Deal economics

• At list price, monthly cash flow is $-221 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (26.1% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $111k (26.1% below list) — sets the bar for cash-flow.
• Cap rate 5.1% 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.
• 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.
• Zoned schools: Westwood El (math 20% / reading 20%, grade F, #3,536 of 4,322 statewide, top 83%, 409 students, 93% FRL); Spring Oaks Middle (math 22% / reading 30%, grade F, #1,222 of 1,662 statewide, top 74%, 644 students, 91% FRL); Spring Woods H S (math 53% / reading 36%, grade F, #652 of 1,632 statewide, top 43%, 2,113 students, 82% FRL) — zoned schools average 89% FRL vs 54% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 30% at this address vs 46% district-wide (-16 pts) — the specific schools serving this property underperform the Spring Branch ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.9%/yr); 202 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 79% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $1k of loan paydown is wiped out by about $4k 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 100 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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 $50k; list at $150k implies a 203% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; flood insurance adds $66/mo; HOA is 21% 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 $110,751 (26.1% 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 100 days. Have you received any prior offers? Is the seller open to a 26% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 1.26% ✓
• Cap rate: 5.05%
• Cash-on-cash: -4.43%
• DSCR: 0.80
• GRM: 6.6

CMA / ARV

• ARV (median comp): $201,875
• List price: $149,850
• Delta: -25.77%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2202 Shadowdale Dr	0.10mi	3/2.5	2,039 (-1%)	3mo	$194,000	$95	91
10520 Hammerly Blvd #249	0.04mi	3/2.5	1,986 (-4%)	5mo	$169,000	$85	87
2212 Shadowdale Dr #358	0.09mi	3/2.5	1,964 (-5%)	2mo	$170,000	$87	86
2231 Triway Ln #266	0.10mi	4/2.5 (+1)	2,128 (+3%)	1mo	$135,000	$63	84
2233 Triway Ln #267	0.10mi	3/2.5	1,986 (-4%)	8mo	$179,000	$90	83
2263 Triway Ln	0.04mi	3/2.5	1,976 (-4%)	11mo	$205,000	$104	82
2206 Shadowdale Dr #355	0.10mi	3/2.5	1,964 (-5%)	9mo	$210,000	$107	80
2318 Shadowdale Dr #297	0.08mi	3/2.5	2,138 (+4%)	13mo	$247,900	$116	79
10510 Hammerly Blvd #254	0.07mi	3/2.5	2,138 (+4%)	18mo	$255,000	$119	75
2247 Triway Ln #238	0.06mi	3/3.0	1,900 (-8%)	13mo	$226,900	$119	72
2214 Triway Ln	0.15mi	3/2.5	1,846 (-10%)	14mo	$179,900	$97	64
10416 Hammerly Blvd #45	0.24mi	3/2.5	1,846 (-10%)	12mo	$219,900	$119	61

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: -33.1%
• Equity multiple: -0.04×
• Total profit: $-43,478
• Equity at exit: $22,343

10-year hold

• IRR: -85.0%
• Equity multiple: -0.80×
• Total profit: $-75,628
• Equity at exit: $12,956

Cash invested: $41,958 (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 77043

• Rents YoY: -0.9%
• Active inventory: 202
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,892 high
• Mortgage (P&I): −$786
• Tax from tax record: −$414 /mo · $4,963/yr
• Insurance: −$62
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$388
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $-221

Break-even live

Break-even rent $2,173

Max offer price $110,751

Occupancy floor —

Sensitivity live

Price	-10% $-137	-5% $-179	+0% $-221	+5% $-264	+10% $-306
Rent	-10% $-371	-5% $-296	+0% $-221	+5% $-147	+10% $-72
Rate	-1.0pp $-146	-0.5pp $-183	base $-221	+0.5pp $-260	+1.0pp $-300

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: $37,462
• Closing costs: $4,496
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10580 Hammerly Blvd Houston, TX	1.0–4.0	1.0–2.5	987	$1,367	$1.38	0d	30	0.17mi
2226 Triway Ln #100 Houston, TX	3.0	2.5	1584	$1,900	$1.20	45d	1	0.20mi
10386 Hammerly Blvd Houston, TX	3.0	3.0	1716	$1,950	$1.14	45d	1	0.31mi
2823 Stetson Ln Houston, TX	4.0	2.0	2050	$3,050	$1.49	45d	1	0.81mi
10214 Londonderry Dr Houston, TX	3.0	2.0	1606	$2,600	$1.62	45d	1	0.85mi
11002 Hammerly Blvd Houston, TX	2.0–4.0	2.5	1686	$1,700	$1.01	1d	2	1.14mi
3125 Crestdale Dr Unit 1006 Houston, TX	3.0	2.0	1500	$1,629	$1.09	45d	1	1.26mi
3125 Crestdale Dr Unit 1082 Houston, TX	4.0	2.0	1600	$1,200	$0.75	45d	1	1.26mi
3125 Crestdale Dr Unit 1436 Houston, TX	3.0	2.0	1450	$1,599	$1.10	45d	1	1.26mi
3125 Crestdale Dr Unit 1091 Houston, TX	3.0	2.0	1450	$1,500	$1.03	45d	1	1.26mi
3125 Crestdale Dr Unit 1064 Houston, TX	3.0	2.0	1400	$1,399	$1.00	45d	1	1.26mi
3125 Crestdale Dr Unit 1006 Houston, TX	3.0	2.0	1495	$1,629	$1.09	26d	1	1.26mi
3125 Crestdale Dr Unit 1305 Houston, TX	4.0	2.0	1600	$1,819	$1.14	45d	1	1.26mi
3125 Crestdale Dr Houston, TX	3.0	3.0	1400	$1,749	$1.25	45d	1	1.34mi

HOA detail

• Monthly dues: $388 · $4,656/yr
• Likely covers: exterior maint.

Listing history 24 events

1. 2026-06-21
   days on market $149,850 Active 100 DOM
2. 2026-06-18
   days on market $149,850 Active 97 DOM
3. 2026-06-17
   days on market $149,850 Active 96 DOM
4. 2026-06-16
   days on market $149,850 Active 95 DOM
5. 2026-06-15
   days on market $149,850 Active 94 DOM
6. 2026-06-13
   days on market $149,850 Active 92 DOM
7. 2026-06-09
   days on market $149,850 Active 88 DOM
8. 2026-06-08
   days on market $149,850 Active 87 DOM
9. 2026-06-07
   days on market $149,850 Active 86 DOM
10. 2026-06-04
    days on market $149,850 Active 83 DOM
11. 2026-06-03
    days on market $149,850 Active 82 DOM
12. 2026-06-02
    days on market $149,850 Active 81 DOM
13. 2026-06-01
    days on market $149,850 Active 80 DOM
14. 2026-05-31
    days on market $149,850 Active 79 DOM
15. 2026-04-27
    status Active 335-char remark

    Show marketing remark (335 chars)

    Handsome townhouse in a mature, homey community! I wouldn't quite call it a fixer upper but it definitely needs some work - is priced accordingly. A lot of fixtures/fittings/finishes (such as tiles, cabinets, fans) are savable. All appliances to stay. HOA responsible for (most) exterior repairs. Thank you for considering our listing!

16. 2026-04-26
    status Pending 335-char remark

    Show marketing remark (335 chars)

    Handsome townhouse in a mature, homey community! I wouldn't quite call it a fixer upper but it definitely needs some work - is priced accordingly. A lot of fixtures/fittings/finishes (such as tiles, cabinets, fans) are savable. All appliances to stay. HOA responsible for (most) exterior repairs. Thank you for considering our listing!

17. 2026-04-21
    status Pending 335-char remark

    Show marketing remark (335 chars)

    Handsome townhouse in a mature, homey community! I wouldn't quite call it a fixer upper but it definitely needs some work - is priced accordingly. A lot of fixtures/fittings/finishes (such as tiles, cabinets, fans) are savable. All appliances to stay. HOA responsible for (most) exterior repairs. Thank you for considering our listing!

18. 2026-03-30
    status Active 335-char remark

    Show marketing remark (335 chars)

    Handsome townhouse in a mature, homey community! I wouldn't quite call it a fixer upper but it definitely needs some work - is priced accordingly. A lot of fixtures/fittings/finishes (such as tiles, cabinets, fans) are savable. All appliances to stay. HOA responsible for (most) exterior repairs. Thank you for considering our listing!

19. 2026-03-29
    status Pending 335-char remark

    Show marketing remark (335 chars)

    Handsome townhouse in a mature, homey community! I wouldn't quite call it a fixer upper but it definitely needs some work - is priced accordingly. A lot of fixtures/fittings/finishes (such as tiles, cabinets, fans) are savable. All appliances to stay. HOA responsible for (most) exterior repairs. Thank you for considering our listing!

20. 2026-03-25
    status Pending 335-char remark

    Show marketing remark (335 chars)

    Handsome townhouse in a mature, homey community! I wouldn't quite call it a fixer upper but it definitely needs some work - is priced accordingly. A lot of fixtures/fittings/finishes (such as tiles, cabinets, fans) are savable. All appliances to stay. HOA responsible for (most) exterior repairs. Thank you for considering our listing!

21. 2026-03-09
    listed $149,850 Active 335-char remark

    Show marketing remark (335 chars)

    Handsome townhouse in a mature, homey community! I wouldn't quite call it a fixer upper but it definitely needs some work - is priced accordingly. A lot of fixtures/fittings/finishes (such as tiles, cabinets, fans) are savable. All appliances to stay. HOA responsible for (most) exterior repairs. Thank you for considering our listing!

22. 2026-03-09
    historical

    Show marketing remark (335 chars)

    Handsome townhouse in a mature, homey community! I wouldn't quite call it a fixer upper but it definitely needs some work - is priced accordingly. A lot of fixtures/fittings/finishes (such as tiles, cabinets, fans) are savable. All appliances to stay. HOA responsible for (most) exterior repairs. Thank you for considering our listing!

23. 2026-02-13
    listed $164,500 Active
24. 1991-03-01
    soldstatus $49,500

ⓘ 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: $4,963 · $414/mo
• Projected year-2 tax: $4,963 · $414/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) · 95% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,708
• − Mortgage interest: −$8,394
• − Property taxes: −$4,963
• − Insurance: −$1,547
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − HOA: −$4,656
• − Depreciation: −$4,359
• Taxable loss: −$4,844
• Est. tax savings @ 24.0%: +$1,163
• After-tax cash flow: $-1,493/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): 29,048
• Household income: $79,359
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1667.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: Hispanic / Latino 44% White 37% Two or more races 25% Black 8% Asian 6%
• Hispanic origin (detail): Mexican 24% Puerto Rican 3%
• Common ancestry: Lithuanian 3% Slovak 2% Romanian 2%
• Foreign-born: 31% · Canada, China, Vietnam
• Languages at home: 52% English-only · Spanish 36% French/Haitian/Cajun 2% 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: ▼ -283.51%
• Current HPI: 286.4053
• Rent YoY: ▼ -0.86%
• 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

+202.7% since first listed

10 events — show timeline

• 2026-04-27 Relisted — HARMLS
• 2026-04-26 Pending — HARMLS
• 2026-04-21 Pending — HARMLS
• 2026-03-30 Relisted — HARMLS
• 2026-03-29 Pending — HARMLS
• 2026-03-25 Pending — HARMLS
• 2026-03-09 Listing Removed — HARMLS
• 2026-03-09 Listed $149,850 HARMLS
• 2026-02-13 Listed $164,500 HARMLS
• 1991-03-01 Sold (Public Records) $49,500 Public Records

Property tax history

+8.4%/yr

Latest (2025): $4,963 · -1.4% YoY. Source: county tax records.