11002 Hammerly Boulevard Blvd #212 · Houston, TX 77043

$164,000

3 bd · 2.5 ba · 1,738 sqft · Condo public records · 23 Days on market

Built 1976 $94/sqft · at area comps Est $162k · at est.

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Why this score? — see what drove the F 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 +7.0/30.0
• ARV discount +6.8/15.0
• 1% rule +6.4/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully maintained 3-bed, 2.5-bath townhome in the heart of the Energy Corridor. This spacious unit offers two living areas, in-unit laundry, a private balcony, and two assigned parking spaces directly behind the home. Interior features include fresh paint, luxury vinyl flooring, a welcoming family room, and a well-kept kitchen with granite countertops, updated cabinets, and stainless-steel appliances. Bedrooms are generously sized with walk-in closets, and the bathrooms have been refreshed for comfort and style. Enjoy an easy walk to the community pool and gym, plus quick access to City Centre, I-10, Beltway 8, Katy, and Downtown. A solid opportunity in a prime location you won’t

Key facts

• Updated cabinets
• Community pool
• Private balcony

Tags

• PRIVATE BALCONY
• IN UNIT LAUNDRY
• COMMUNITY POOL
• UPDATED CABINETS
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERTOPS

Property features AI

Finance

• HOA & community: Association managed by Creative Management Company; Community pool; Clubhouse

Exterior

• Parking: Carport with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Residential property; 2 stories; Built in 1976; Slab foundation
• Construction: Brick and wood siding construction; Composition roof
• Exterior features: Deck; Patio

Interior

• Kitchen: Dishwasher; Electric range; Disposal; Microwave; Oven; Refrigerator; Trash compactor
• Bedrooms: Primary bedroom on second floor (approx. 14 x 12); Bedroom on second floor (approx. 12 x 10); Bedroom on second floor (approx. 12 x 10)
• Flooring: Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (gas); Central air conditioning
• Interior features: Granite counters; Kitchen open to family room; Pantry

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $164k.

Deal economics

• At list price, monthly cash flow is $-243 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $164k).
• Recommended offer: $162k (1.5% below list) — sets the bar for market timing.
• 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: 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: Sherwood El (math 26% / reading 34%, grade F, #2,500 of 4,322 statewide, top 58%, 460 students, 66% FRL); Spring Forest Middle (math 39% / reading 44%, grade F, #595 of 1,662 statewide, top 37%, 962 students, 56% FRL); Stratford H S (math 52% / reading 59%, grade C, #364 of 1,632 statewide, top 23%, 2,272 students, 33% FRL) — zoned schools at 52% FRL track the district average.
• Market conditions: Rents soft (-0.9%/yr); 202 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $5k 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 23 days — a 2% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 22y 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.
• Current owner paid $58k; list at $164k implies a 185% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $161,540 (1.5% 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. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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 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: 1.14% ✓
• Cap rate: 4.52%
• Cash-on-cash: -6.34%
• DSCR: 0.72
• GRM: 7.3

CMA / ARV

• ARV (median comp): $161,542
• List price: $164,000
• Delta: 2.14%
• 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: -32.6%
• Equity multiple: -0.03×
• Total profit: $-47,100
• Equity at exit: $24,453

10-year hold

• IRR: -77.7%
• Equity multiple: -0.75×
• Total profit: $-80,457
• Equity at exit: $14,180

Cash invested: $45,920 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,865 high
• Mortgage (P&I): −$860
• Tax from tax record: −$324 /mo · $3,882/yr
• Insurance: −$68
• HOA est. from 3 same-building comps: −$464
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $-243

Break-even live

Break-even rent $2,172

Max offer price $121,159

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: $41,000
• Closing costs: $4,920
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10829 Hammerly Blvd Houston, TX	2.0	2.0	1226	$2,064	$1.68	24d	1	0.17mi
10850 Hammerly Blvd Houston, TX	1.0–2.0	1.0–2.0	882	$2,320	$2.63	2d	22	0.25mi
1888 Brittmoore Rd Houston, TX	1.0–2.0	1.0–2.0	904	$2,025	$2.24	1d	13	0.26mi
1599 Brittmoore Rd Houston, TX	2.0	2.0	1134	$1,983	$1.75	11d	1	0.84mi
1839 Sherwood Forest St Houston, TX	3.0	2.5	1752	$1,700	$0.97	43d	1	0.86mi
10580 Hammerly Blvd Houston, TX	1.0–4.0	1.0–2.5	987	$1,357	$1.37	1d	31	1.04mi
1707 Upland Dr Houston, TX	2.0	2.0	1190	$1,309	$1.10	24d	1	1.18mi
1707 Upland Dr Houston, TX	3.0	2.0	1350	$1,465	$1.09	43d	1	1.18mi
1707 Upland Dr Houston, TX	3.0	2.0	1350	$1,465	$1.09	18d	1	1.18mi
11918 Clay Rd Houston, TX	1.0–2.0	1.0–2.0	954	$2,014	$2.11	7d	34	1.27mi
11810 Clay Rd Unit 1738 Houston, TX	2.0	2.0	1199	$1,400	$1.17	43d	1	1.30mi
11810 Clay Rd Unit 90222 Houston, TX	2.0	2.0	1402	$1,700	$1.21	43d	1	1.30mi
11810 Clay Rd Unit 60228 Houston, TX	2.0	2.0	1244	$1,575	$1.27	43d	1	1.30mi
1701 Upland Dr Houston, TX	2.0–4.0	1.5–3.0	1340	$1,850	$1.38	43d	8	1.32mi
1521 Sherwood Forest St Apt 303 Houston, TX	2.0	2.5	1120	$1,379	$1.23	19d	1	1.35mi
1521 Sherwood Forest St Apt 1203 Houston, TX	2.0	1.5	1188	$1,299	$1.09	3d	1	1.35mi
1521 Sherwood Forest St Unit 702 Houston, TX	2.0	2.5	1108	$1,359	$1.23	19d	1	1.35mi
1521 Sherwood Forest St Houston, TX	3.0	1.0–2.5	878	$1,459	$1.66	24d	16	1.36mi
2226 Triway Ln #100 Houston, TX	3.0	2.5	1584	$1,900	$1.20	43d	1	1.40mi
11019 Cane Oak Way Houston, TX	3.0	4.0	1980	$2,650	$1.34	43d	1	1.46mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: poolgymparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-18
   days on market $164,000 Active 23 DOM
2. 2026-06-17
   days on market $164,000 Active 22 DOM
3. 2026-06-16
   days on market $164,000 Active 21 DOM
4. 2026-06-15
   days on market $164,000 Active 20 DOM
5. 2026-06-13
   days on market $164,000 Active 18 DOM
6. 2026-06-09
   days on market $164,000 Active 14 DOM
7. 2026-06-08
   days on market $164,000 Active 13 DOM
8. 2026-06-07
   days on market $164,000 Active 12 DOM
9. 2026-06-04
   days on market $164,000 Active 9 DOM
10. 2026-06-03
    days on market $164,000 Active 8 DOM
11. 2026-06-02
    days on market $164,000 Active 7 DOM
12. 2026-06-01
    days on market $164,000 Active 6 DOM
13. 2026-05-31
    days on market $164,000 Active 5 DOM
14. 2026-05-13
    listed $165,000 Active 716-char remark
15. 2021-09-15
    soldstatus
16. 2021-07-12
    soldstatus
17. 2016-03-21
    historical
18. 2015-09-22
    listed $99,000 Active
19. 2015-07-14
    soldstatus
20. 2014-07-08
    historical
21. 2014-06-06
    listed $75,000 Active
22. 2011-07-12
    soldstatus
23. 2011-07-01
    soldstatus
24. 2011-06-28
    historical
25. 2011-05-16
    listed $48,900
26. 2011-04-29
    historical
27. 2010-07-21
    listed $47,500
28. 2006-01-19
    historical
29. 2005-10-20
    listed $75,900
30. 2005-08-31
    historical
31. 2005-02-09
    listed $75,500
32. 2004-11-25
    historical
33. 2004-05-06
    listed $77,500
34. 2000-10-11
    soldstatus
35. 2000-10-01
    soldstatus $57,639
36. 1997-01-08
    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: $3,882 · $324/mo
• Projected year-2 tax: $3,882 · $324/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 (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 22 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: $22,380
• − Mortgage interest: −$9,187
• − Property taxes: −$3,882
• − Insurance: −$820
• − Repairs & maintenance: −$1,790
• − Management: −$1,790
• − HOA: −$5,568
• − Depreciation: −$4,771
• Taxable loss: −$5,428
• Est. tax savings @ 24.0%: +$1,303
• After-tax cash flow: $-1,607/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

+184.5% since first listed

25 events — show timeline

• 2026-05-26 Listing Removed — HARMLS
• 2026-05-26 Listed $164,000 HARMLS
• 2026-05-13 Listed $165,000 HARMLS
• 2021-09-15 Sold (Public Records) — Public Records
• 2021-07-12 Sold (Public Records) — Public Records
• 2016-03-21 Listing Removed — HARMLS
• 2015-09-22 Listed $99,000 HARMLS
• 2015-07-14 Sold (Public Records) — Public Records
• 2014-07-08 Listing Removed — HARMLS
• 2014-06-06 Listed $75,000 HARMLS
• 2011-07-12 Sold (Public Records) — Public Records
• 2011-07-01 Sold (MLS) — HARMLS
• 2011-06-28 Listing Removed — HARMLS
• 2011-05-16 Listed $48,900 HARMLS
• 2011-04-29 Listing Removed — HARMLS
• 2010-07-21 Listed $47,500 HARMLS
• 2006-01-19 Listing Removed — HARMLS
• 2005-10-20 Listed $75,900 HARMLS
• 2005-08-31 Listing Removed — HARMLS
• 2005-02-09 Listed $75,500 HARMLS
• 2004-11-25 Listing Removed — HARMLS
• 2004-05-06 Listed $77,500 HARMLS
• 2000-10-11 Sold (Public Records) — Public Records
• 2000-10-01 Sold (Public Records) $57,639 Public Records
• 1997-01-08 Sold (Public Records) — Public Records

Property tax history

+8.4%/yr

Latest (2025): $3,882 · +1.3% YoY. Source: county tax records.