13480 S Thorntree Dr #508 · Houston, TX 77015

$69,000

2 bd · 2.0 ba · 960 sqft · Condo public records · 366 Days on market

Built 1981 $72/sqft · at area comps Est $72k · at est. $208/mo HOA · 19% 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 +24.4/30.0
• 1% rule +10.0/10.0
• ARV discount +9.5/15.0
• DSCR +7.9/10.0
• 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

This well-maintained property offers 2 bedrooms and 2 bathrooms, thoughtfully designed for everyday comfort. Tiled floors throughout the home provide easy maintenance and a clean, modern feel. A dedicated laundry room adds convenience to your daily routine. Both bedrooms feature ceiling fans to help keep you cool, and the living room includes a fireplace, perfect for relaxing evenings. The kitchen is equipped with a single-range oven, dishwasher, and practical double sinks to make meal prep and cleanup easier. This property is being sold with three other investment properties. Kindly refer to these MLS numbers: 13480 S Thorntree Drive #910 - 79853163 13480 S Thorntree Drive #1206 - 88053105 13480 S Thorntree Drive #1004 - 64613388

Key facts

• Double sinks
• Tiled floors
• Ceiling fans

Tags

• TILED FLOORS
• DEDICATED LAUNDRY ROOM
• CEILING FANS
• FIREPLACE
• SINGLE-RANGE OVEN
• DOUBLE SINKS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $69k.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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: Dr Shirley J Williamson El (math 24% / reading 32%, grade F, #2,740 of 4,322 statewide, top 64%, 661 students, 86% FRL); Cobb 6Th Grade Campus (math 32% / reading 25%, grade F, #1,122 of 1,662 statewide, top 69%, 1,030 students, 90% FRL); Galena Park H S (math 37% / reading 36%, grade F, #924 of 1,632 statewide, top 57%, 1,914 students, 87% FRL).
• Market conditions: Rents soft (-0.8%/yr); 163 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 14d 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 $477 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 366 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $11k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: 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 $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 366 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
9. 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.
10. 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: 1.56% ✓
• Cap rate: 8.74%
• Cash-on-cash: 8.74%
• DSCR: 1.39
• GRM: 5.3

CMA / ARV

• ARV (median comp): $72,194
• List price: $69,000
• Delta: -4.42%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.6%
• Equity multiple: 0.73×
• Total profit: $-5,221
• Equity at exit: $10,288

10-year hold

• IRR: -4.4%
• Equity multiple: 0.76×
• Total profit: $-4,579
• Equity at exit: $5,966

Cash invested: $19,320 (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: 163
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,080 high
• Mortgage (P&I): −$362
• Tax from tax record: −$114 /mo · $1,363/yr
• Insurance: −$29
• HOA: −$208
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $141

Break-even live

Break-even rent $902

Max offer price $69,000

Occupancy floor 82%

Sensitivity live

Price	-10% $180	-5% $160	+0% $141	+5% $121	+10% $102
Rent	-10% $55	-5% $98	+0% $141	+5% $183	+10% $226
Rate	-1.0pp $175	-0.5pp $158	base $141	+0.5pp $123	+1.0pp $105

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: $17,250
• Closing costs: $2,070
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
90 Uvalde Rd Houston, TX	1.0–2.0	1.0–2.0	868	$1,347	$1.55	3d	20	0.11mi
206 Spinwood Dr Houston, TX	2.0	2.0	860	$1,040	$1.21	46d	1	0.15mi
13502 N Thorntree Dr Unit 1047 Houston, TX	1.0	1.0	583	$824	$1.41	13d	1	0.16mi
13502 N Thorntree Dr Houston, TX	1.0	1.0	583	$773	$1.33	15d	1	0.16mi
13502 N Thorntree Dr Unit 13553 Houston, TX	1.0	1.0	635	$864	$1.36	46d	1	0.18mi
13502 N Thorntree Dr Unit 425 Houston, TX	2.0	2.0	766	$963	$1.26	12d	1	0.18mi
13502 N Thorntree Dr Unit 13523 Houston, TX	1.0	1.0	583	$824	$1.41	0d	1	0.18mi
13502 N Thorntree Dr Unit 13523 Houston, TX	1.0	1.0	635	$869	$1.37	15d	1	0.18mi
13502 N Thorntree Dr Unit 424 Houston, TX	2.0	2.0	766	$939	$1.23	7d	1	0.18mi
250 Uvalde Rd Houston, TX	1.0–3.0	1.0–2.0	909	$1,039	$1.14	5d	26	0.30mi
8 Uvalde Rd Houston, TX	3.0	2.0	1125	$1,000	$0.89	46d	1	0.33mi
316 White Cedar St Houston, TX	1.0	1.0	712	$1,035	$1.45	24d	1	0.33mi
316 White Cedar St Houston, TX	1.0	1.0	712	$1,035	$1.45	21d	1	0.33mi
316 White Cedar St Houston, TX	2.0	2.0	1028	$1,306	$1.27	26d	1	0.33mi
14445 Wallisville Rd Houston, TX	2.0	1.0–2.0	659	$1,210	$1.83	3d	10	0.57mi
353 Audrey Ln Unit 365 1/2 Houston, TX	2.0	1.0	800	$1,375	$1.72	46d	1	0.57mi
13161 Woodforest Blvd Houston, TX	2.0	2.0	965	$1,058	$1.10	46d	1	0.61mi
14346 Wallisville Rd Houston, TX	2.0	2.0	936	$1,360	$1.45	46d	1	0.65mi
14340 Wallisville Rd Unit 1047 Houston, TX	1.0	1.0	670	$1,110	$1.66	1d	1	0.65mi
14340 Wallisville Rd Unit 2162 Houston, TX	2.0	2.0	940	$1,390	$1.48	7d	1	0.65mi
14340 Wallisville Rd Unit 325 Houston, TX	1.0	1.0	670	$1,120	$1.67	0d	1	0.65mi
14340 Wallisville Rd Houston, TX	1.0	1.0	670	$1,069	$1.60	15d	1	0.65mi
14340 Wallisville Rd Unit 2148 Houston, TX	2.0	2.0	940	$1,425	$1.52	0d	1	0.65mi
14340 Wallisville Rd Unit 2047 Houston, TX	2.0	2.0	940	$1,425	$1.52	13d	1	0.65mi
14340 Wallisville Rd Unit 1162 Houston, TX	1.0	1.0	670	$1,080	$1.61	7d	1	0.65mi
14340 Wallisville Rd Unit 425 Houston, TX	2.0	2.0	940	$1,382	$1.47	5d	1	0.66mi
14340 Wallisville Rd Unit 14397 Houston, TX	2.0	2.0	940	$1,425	$1.52	0d	1	0.66mi
14340 Wallisville Rd Unit 14391 Houston, TX	1.0	1.0	669	$1,090	$1.63	46d	1	0.66mi
14340 Wallisville Rd Unit 14361 Houston, TX	1.0	1.0	669	$1,095	$1.64	15d	1	0.66mi
14340 Wallisville Rd Unit 14377 Houston, TX	2.0	2.0	940	$1,414	$1.50	12d	1	0.66mi
14340 Wallisville Rd Unit 14361 Houston, TX	1.0	1.0	670	$1,120	$1.67	0d	1	0.66mi
5675 Purple Sage Rd Houston, TX	1.0–2.0	1.0–2.0	782	$1,129	$1.44	1d	17	0.70mi
12955 Woodforest Blvd Unit 305 Houston, TX	1.0	1.0	728	$975	$1.34	26d	1	0.80mi
15110 N Castlegory Houston, TX	2.0	2.0	1079	$1,670	$1.55	14d	1	0.80mi
5921 Uvalde Rd Houston, TX	1.0	1.0	644	$963	$1.50	46d	1	0.81mi
5921 Uvalde Rd Houston, TX	2.0	1.0	800	$1,141	$1.43	26d	1	0.81mi
5921 Uvalde Rd Houston, TX	1.0	1.0	644	$963	$1.50	23d	1	0.81mi
12905 Woodforest Blvd Houston, TX	2.0	1.0	886	$995	$1.12	1d	1	0.85mi
5915 Uvalde Rd Houston, TX	1.0–2.0	1.0–2.0	681	$1,034	$1.52	1d	12	0.87mi
12800 Woodforest Blvd Unit 12857 Houston, TX	2.0	2.0	850	$1,169	$1.38	0d	1	0.95mi

HOA detail condo

• Monthly dues: $208 · $2,496/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-22
   days on market $69,000 Active 366 DOM
2. 2026-06-21
   days on market $69,000 Active 365 DOM
3. 2026-06-18
   days on market $69,000 Active 362 DOM
4. 2026-06-17
   days on market $69,000 Active 361 DOM
5. 2026-06-16
   days on market $69,000 Active 360 DOM
6. 2026-06-15
   days on market $69,000 Active 359 DOM
7. 2026-06-13
   days on market $69,000 Active 357 DOM
8. 2026-06-13
   days on market $69,000 Active 356 DOM
9. 2026-06-09
   days on market $69,000 Active 353 DOM
10. 2026-06-08
    days on market $69,000 Active 352 DOM
11. 2026-06-07
    days on market $69,000 Active 351 DOM
12. 2026-06-04
    days on market $69,000 Active 348 DOM
13. 2026-06-03
    days on market $69,000 Active 347 DOM
14. 2026-06-02
    days on market $69,000 Active 346 DOM
15. 2026-06-01
    days on market $69,000 Active 345 DOM
16. 2026-05-31
    days on market $69,000 Active 344 DOM
17. 2026-03-03
    price $69,000 746-char remark

    Show marketing remark (746 chars)

    This well-maintained property offers 2 bedrooms and 2 bathrooms, thoughtfully designed for everyday comfort. Tiled floors throughout the home provide easy maintenance and a clean, modern feel. A dedicated laundry room adds convenience to your daily routine. Both bedrooms feature ceiling fans to help keep you cool, and the living room includes a fireplace, perfect for relaxing evenings. The kitchen is equipped with a single-range oven, dishwasher, and practical double sinks to make meal prep and cleanup easier. This property is being sold with three other investment properties. Kindly refer to these MLS numbers: 13480 S Thorntree Drive #910 - 79853163 13480 S Thorntree Drive #1206 - 88053105 13480 S Thorntree Drive #1004 - 64613388

18. 2025-09-15
    price $72,000 746-char remark

    Show marketing remark (746 chars)

    This well-maintained property offers 2 bedrooms and 2 bathrooms, thoughtfully designed for everyday comfort. Tiled floors throughout the home provide easy maintenance and a clean, modern feel. A dedicated laundry room adds convenience to your daily routine. Both bedrooms feature ceiling fans to help keep you cool, and the living room includes a fireplace, perfect for relaxing evenings. The kitchen is equipped with a single-range oven, dishwasher, and practical double sinks to make meal prep and cleanup easier. This property is being sold with three other investment properties. Kindly refer to these MLS numbers: 13480 S Thorntree Drive #910 - 79853163 13480 S Thorntree Drive #1206 - 88053105 13480 S Thorntree Drive #1004 - 64613388

19. 2025-06-21
    listed $79,990 Active 746-char remark

    Show marketing remark (746 chars)

    This well-maintained property offers 2 bedrooms and 2 bathrooms, thoughtfully designed for everyday comfort. Tiled floors throughout the home provide easy maintenance and a clean, modern feel. A dedicated laundry room adds convenience to your daily routine. Both bedrooms feature ceiling fans to help keep you cool, and the living room includes a fireplace, perfect for relaxing evenings. The kitchen is equipped with a single-range oven, dishwasher, and practical double sinks to make meal prep and cleanup easier. This property is being sold with three other investment properties. Kindly refer to these MLS numbers: 13480 S Thorntree Drive #910 - 79853163 13480 S Thorntree Drive #1206 - 88053105 13480 S Thorntree Drive #1004 - 64613388

20. 2024-08-06
    historical $1,200
21. 2024-06-08
    listed $1,200
22. 2022-07-28
    historical
23. 2022-07-28
    listed $1,150 Active
24. 2022-06-14
    soldstatus
25. 2022-04-07
    soldstatus
26. 2022-04-05
    soldstatus Sold
27. 2022-02-28
    status Pending
28. 2022-02-28
    listed $55,000 Active
29. 2015-04-17
    soldstatus
30. 2014-04-22
    soldstatus
31. 1990-06-25
    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: $1,363 · $114/mo
• Projected year-2 tax: $1,363 · $114/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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: $12,956
• − Mortgage interest: −$3,865
• − Property taxes: −$1,363
• − Insurance: −$345
• − Repairs & maintenance: −$1,036
• − Management: −$1,036
• − HOA: −$2,496
• − Depreciation: −$2,007
• Taxable income: $806
• Est. tax owed @ 24.0%: −$194
• After-tax cash flow: $1,495/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

+25.5% since first listed

15 events — show timeline

• 2026-03-03 Price Changed $69,000 HARMLS
• 2025-09-15 Price Changed $72,000 HARMLS
• 2025-06-21 Listed $79,990 HARMLS
• 2024-08-06 Rental Removed $1,200 HARMLS
• 2024-06-08 Listed for Rent $1,200 HARMLS
• 2022-07-28 Listed $1,150 HARMLS
• 2022-07-28 Listing Removed — HARMLS
• 2022-06-14 Sold (Public Records) — Public Records
• 2022-04-07 Sold (Public Records) — Public Records
• 2022-04-05 Sold (MLS) — HARMLS
• 2022-02-28 Pending — HARMLS
• 2022-02-28 Listed $55,000 HARMLS
• 2015-04-17 Sold (Public Records) — Public Records
• 2014-04-22 Sold (Public Records) — Public Records
• 1990-06-25 Sold (Public Records) — Public Records

Property tax history

+9.9%/yr

Latest (2025): $1,363 · +24.9% YoY. Source: county tax records.