8200 Broadway St Unit 309N · Houston, TX 77061

$69,900

2 bd · 2.0 ba · 1,026 sqft · Condo · 162 Days on market

Built 1970 Fair condition $225/mo HOA · 20% of rent ↓ 22% since listing

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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 +26.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.4/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to Thai Xuan Village! This well maintained first floor condo offers 2 bedrooms and 2 full bathrooms, tile flooring throughout and no carpet. Located near Hobby Airport, freeways, schools, shopping centers and much more. You don't want to miss this one, schedule your tour today!

Key facts

• Near schools
• Near freeways
• First floor condo

Tags

• FIRST FLOOR CONDO
• TILE FLOORING
• NEAR HOBBY AIRPORT
• NEAR FREEWAYS
• NEAR SCHOOLS
• NEAR SHOPPING CENTERS

Property features AI

Finance

• Other: Seller disclosure available
• HOA & community: Thai Xuan Village association with a $225 monthly fee that includes water, sewer, and trash

Exterior

• Parking: No parking
• Utilities: Public water; Public sewer
• Home design: Residential property; Single-story; Built in 1970; Slab foundation
• Construction: Brick and cement siding construction
• Exterior features: Composition roof

Interior

• Kitchen: Electric cooktop; Electric oven; Free-standing range; Dishwasher; Refrigerator
• Bedrooms: Bedroom on first floor (10 x 9); Primary bedroom on first floor (11 x 10)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Tub/shower combination; Ceiling fans
• Laundry & utility: Washer and dryer in utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $70k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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.
• 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.
• Zoned schools: Park Place El (math 39% / reading 39%, grade F, #1,651 of 4,322 statewide, top 39%, 735 students, 94% FRL); Ortiz Middle (math 16% / reading 25%, grade F, #1,407 of 1,662 statewide, top 86%, 871 students, 97% FRL); Chavez H S (math 26% / reading 26%, grade F, #1,234 of 1,632 statewide, top 76%, 2,272 students, 93% FRL) — zoned schools average 95% FRL vs 71% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.3%/yr); 48 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 30% 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 $483 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 162 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $61,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 162 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1970 — 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. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.63% ✓
• Cap rate: 9.60%
• Cash-on-cash: 11.83%
• DSCR: 1.53
• GRM: 5.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -3.2%
• Equity multiple: 0.89×
• Total profit: $-2,228
• Equity at exit: $10,422

10-year hold

• IRR: 1.4%
• Equity multiple: 1.08×
• Total profit: $1,595
• Equity at exit: $6,044

Cash invested: $19,572 (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: 5.1×

Monthly cashflow live

• Estimated rent: $1,140 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$225
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $193

Break-even live

Break-even rent $896

Max offer price $69,900

Occupancy floor 78%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7661 Bellfort Ave Houston, TX	2.0	2.0	930	$1,349	$1.45	20d	1	0.29mi
4143 Dover Ave Houston, TX	2.0	1.0	880	$1,065	$1.21	44d	1	0.40mi
8101 Leonora St Houston, TX	1.0–2.0	1.0–2.0	975	$1,300	$1.33	2d	4	0.44mi
7901 Leonora St Houston, TX	1.0–2.0	1.0	750	$1,245	$1.66	5d	10	0.51mi
8100 Leonora St Houston, TX	2.0–3.0	2.0–2.5	1575	$1,200	$0.76	44d	3	0.53mi
8100 Leonora St Houston, TX	2.0–3.0	2.0–2.5	1575	$1,300	$0.83	20d	2	0.53mi
7952 Leonora St Houston, TX	2.0	2.5	1300	$1,350	$1.04	44d	1	0.56mi
8501 Broadway St Houston, TX	1.0–2.0	1.0–2.0	764	$938	$1.23	44d	18	0.56mi
7950 Bellfort St Houston, TX	1.0–2.0	1.0–2.0	796	$1,142	$1.43	2d	15	0.57mi
7623 Pecan Villas Dr Unit 7 Houston, TX	2.0	1.0	800	$1,050	$1.31	44d	1	0.65mi
7615 Grahamcrest Dr Houston, TX	1.0–2.0	1.0	778	$1,095	$1.41	1d	9	0.72mi
8629 Dover St Houston, TX	2.0	2.0	1050	$940	$0.90	19d	1	0.76mi
8629 Dover St Houston, TX	2.0	2.0	1050	$940	$0.90	16d	1	0.76mi
8445 Winkler Dr Houston, TX	1.0	1.0	704	$800	$1.14	24d	1	0.88mi
8757 Broadway St Houston, TX	2.0	2.0	1050	$890	$0.85	44d	1	0.89mi
8535 Winkler Dr Houston, TX	2.0	1.0	874	$900	$1.03	44d	1	0.95mi
8625 Winkler Dr Unit 422 Houston, TX	2.0	2.0	787	$1,096	$1.39	11d	1	1.09mi
8625 Winkler Dr Unit 2-2125 Houston, TX	2.0	1.0	787	$1,082	$1.37	24d	1	1.09mi
8625 Winkler Dr Houston, TX	1.0–2.0	1.0	701	$1,310	$1.87	15d	17	1.12mi
8625 Winkler Dr Houston, TX	1.0–2.0	1.0	701	$1,310	$1.87	1d	16	1.12mi
8335 Bonner Dr Houston, TX	1.0	1.0	700	$950	$1.36	44d	1	1.23mi
4206 E Villa St Houston, TX	3.0	1.0	1190	$1,845	$1.55	14d	1	1.34mi
8800 Gulf Fwy Houston, TX	1.0–2.0	1.0	750	$1,348	$1.80	1d	6	1.36mi
6043 Bonn Echo Ln Houston, TX	2.0	2.0	900	$1,165	$1.29	44d	1	1.40mi
8357 Park Place Blvd Houston, TX	1.0	1.0	739	$845	$1.14	44d	1	1.41mi

HOA detail condo

• Monthly dues: $225 · $2,700/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 6 events

1. 2026-06-18
   days on market $69,900 Active 162 DOM
2. 2026-06-17
   days on market $69,900 Active 161 DOM
3. 2026-06-16
   days on market $69,900 Active 160 DOM
4. 2026-06-15
   days on market $69,900 Active 159 DOM
5. 2026-06-13
   remarks 286-char remark
6. 2026-06-13
   listed $69,900 Active 157 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 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: $13,685
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$1,095
• − Management: −$1,095
• − HOA: −$2,700
• − Depreciation: −$2,033
• Taxable income: $1,449
• Est. tax owed @ 24.0%: −$348
• After-tax cash flow: $1,967/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.

Condition & rehab AI · 13 photos

Fair 45/100 Cosmetic rehab

This well-maintained first floor condo offers 2 bedrooms and 2 full bathrooms with tile flooring throughout. It is located near Hobby Airport, freeways, schools, and shopping centers.

Repairs flagged

• Minor ceiling fan — light switches visible
• Minor light switches — light switches visible

Value-add opportunities

• Both ceiling fan — Improves aesthetics and functionality
• Both light switches — Improves aesthetics and functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
ceiling fan · light switches visible	Minor	$500–3,000
light switches · light switches visible	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both ceiling fan — Improves aesthetics and functionality ↑
• Both light switches — Improves aesthetics and functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-22.2% since first listed

3 events — show timeline

• 2026-03-05 Price Changed $69,900 HARMLS
• 2026-01-27 Price Changed $79,990 HARMLS
• 2026-01-07 Listed $89,900 HARMLS