10611 Leitrim Way · Houston, TX 77047

$159,900

2 bd · 1.0 ba · 1,105 sqft · SingleFamily public records · 8 Days on market

Built 1963 7,200 sqft lot $145/sqft · at area comps Est $160k · at est.

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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).

• Cash flow +16.2/30.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• 1% rule +4.3/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully updated 3 bed, 1 bath home with 1 car garage in South Acres. This property features a new roof, flooring, central a/c, kitchen cabinets, quartz countertops, and stainless steel appliances. The spacious secondary bedrooms enhance the curb appeal of this must-see property. Schedule your showing today and don't miss out on the opportunity to make this house your new home!

Key facts

• Quartz countertops
• Kitchen cabinets
• New roof

Tags

• NEW ROOF
• KITCHEN CABINETS
• QUARTZ COUNTERTOPS
• STAINLESS STEEL APPLIANCES

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Residential property; Entry level: First floor
• Construction: Brick construction; Composition roof; Slab foundation; Built in 1963
• Exterior features: Subdivision lot

Interior

• Kitchen: Dishwasher; Free‑standing range; Gas oven; Oven
• Bedrooms: Primary bedroom on the first level; Two additional bedrooms on the first level
• Flooring: Plank flooring; Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Ceiling fan(s); Programmable thermostat

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $86 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (7.3% below list).
• Recommended offer: $148k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Woodson School (math 17% / reading 22%, grade F, #3,583 of 4,322 statewide, top 86%, 572 students, 99% FRL); Thomas Middle (math 3% / reading 13%, grade F, #1,654 of 1,662 statewide, top 100%, 526 students, 98% FRL); Worthing H S (math 22% / reading 21%, grade F, #1,377 of 1,632 statewide, top 85%, 827 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 31% district-wide (-15 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.2%/yr); 280 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts; this cycle's ask is 9037% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $148,208 (7.3% below list)

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.93% ✗
• Cap rate: 6.93%
• Cash-on-cash: 2.29%
• DSCR: 1.10
• GRM: 9.0

CMA / ARV

• ARV (median comp): $159,860
• List price: $159,900
• Delta: 0.03%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10611 Leitrim Way	0.00mi	3/1.0 (+1)	1,105 (0%)	0mo	$159,900	$145	95
4235 Dacca Dr	0.26mi	3/2.0 (+1)	1,110 (+0%)	4mo	$177,000	$159	75
3334 Dulcrest St	0.67mi	3/1.0 (+1)	1,122 (+2%)	3mo	$90,000	$80	58
10818 Carlton Dr	0.31mi	3/1.0 (+1)	1,246 (+13%)	2mo	$175,999	$141	58
11018 Long Gate	0.38mi	3/1.5 (+1)	1,242 (+12%)	2mo	$130,000	$105	53
3334 Airport Blvd	0.67mi	3/1.0 (+1)	1,118 (+1%)	11mo	$179,900	$161	53
10205 Sierra Dr	0.72mi	3/1.0 (+1)	1,151 (+4%)	3mo	$120,000	$104	52
10006 Chesterfield Dr	0.70mi	3/1.0 (+1)	1,170 (+6%)	3mo	$125,000	$107	50
10010 Fairland Dr	0.74mi	3/1.0 (+1)	1,148 (+4%)	10mo	$72,000	$63	46
4419 Botany Ln	0.71mi	3/2.0 (+1)	1,173 (+6%)	3mo	$190,000	$162	45
11707 Segrest Dr	0.75mi	3/1.0 (+1)	1,020 (-8%)	9mo	$149,900	$147	40
4826 Airport Blvd	0.64mi	3/1.0 (+1)	1,260 (+14%)	6mo	$164,900	$131	37

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: -16.0%
• Equity multiple: 0.45×
• Total profit: $-24,796
• Equity at exit: $23,842

10-year hold

• IRR: -14.0%
• Equity multiple: 0.30×
• Total profit: $-31,322
• Equity at exit: $13,825

Cash invested: $44,772 (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 77047

• Home prices YoY: -10.1%
• Rents YoY: -0.2%
• Active inventory: 280
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,482 high
• Mortgage (P&I): −$839
• Tax from tax record: −$180 /mo · $2,162/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $86

Break-even live

Break-even rent $1,374

Max offer price $159,900

Occupancy floor 89%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4322 Groton Dr Houston, TX	3.0	1.0	858	$1,395	$1.63	43d	1	0.40mi
4112 Grassmere St Houston, TX	2.0	1.0	711	$700	$0.98	10d	1	0.67mi
4205 Grassmere St Houston, TX	2.0	1.0	824	$900	$1.09	24d	1	0.68mi
10510 Cathedral Dr Houston, TX	3.0	1.0	887	$1,300	$1.47	43d	1	0.76mi
11819 Leitrim Way Houston, TX	3.0	1.0	1476	$1,150	$0.78	5d	1	0.81mi
9414 Heno St Unit 13 Houston, TX	2.0	1.0	824	$900	$1.09	24d	1	0.82mi
11319 Murr Way Houston, TX	3.0	1.5	1213	$1,699	$1.40	18d	1	0.96mi
4810 Wilmington St Unit A Houston, TX	3.0	2.0	1165	$1,650	$1.42	43d	1	1.04mi
4207 Phlox St Houston, TX	2.0	1.0	736	$962	$1.31	1d	1	1.06mi
4205 Phlox St Unit 2 BEDROOM 6 Houston, TX	2.0	1.0	736	$860	$1.17	18d	1	1.06mi
2201 Orem Dr Houston, TX	1.0	1.0	826	$1,230	$1.49	12d	1	1.08mi
4918 Wilmington St Unit A Houston, TX	3.0	3.0	1300	$2,100	$1.62	43d	1	1.13mi
4326 Larkspur St Unit 3 Houston, TX	2.0	1.0	800	$1,200	$1.50	16d	1	1.17mi
4015 Marchant Rd Houston, TX	3.0	2.0	1200	$1,700	$1.42	43d	1	1.20mi
4723 Mallow St Houston, TX	3.0	2.5	1472	$1,850	$1.26	5d	1	1.23mi
12227 Cape Hyannis Dr Houston, TX	3.0	2.0	1432	$1,705	$1.19	13d	1	1.39mi
5426 Greylog Dr Houston, TX	3.0	2.0	1205	$1,750	$1.45	24d	1	1.39mi
5036 Mallow St Houston, TX	3.0	3.0	1472	$2,050	$1.39	43d	1	1.45mi
2910 Reed Rd Houston, TX	1.0–3.0	1.0–2.0	967	$1,088	$1.12	1d	5	1.46mi
4526 Knoxville St Unit A Houston, TX	3.0	2.5	1474	$1,775	$1.20	14d	1	1.47mi

Listing history 6 events

1. 2026-05-12
   historical
2. 2026-05-12
   listed $159,900 Active 399-char remark
3. 2026-05-11
   price $159,900
4. 2026-04-07
   listed $164,900 Active
5. 2026-02-06
   soldstatus
6. 1988-01-02
   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: $2,162 · $180/mo
• Projected year-2 tax: $2,926 · $244/mo
• Expected delta: +$764/yr (+$64/mo · 35.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 24 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: $17,785
• − Mortgage interest: −$8,957
• − Property taxes: −$2,162
• − Insurance: −$800
• − Repairs & maintenance: −$1,423
• − Management: −$1,423
• − Depreciation: −$4,652
• Taxable loss: −$1,631
• Est. tax savings @ 24.0%: +$391
• After-tax cash flow: $1,418/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: 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): 34,987
• Household income: $78,538
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 1109.0

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 0.58)
• Race & ethnicity: Black 57% Hispanic / Latino 29% Two or more races 15% White 6% Asian 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 24% Puerto Rican 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 23% Vietnamese 1% Other Indo-European 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: ▼ -26.76%
• Current HPI: 239.2287
• Rent YoY: ▼ -0.21%
• 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

-98.9% since first listed

11 events — show timeline

• 2026-06-15 Rental Removed $1,750 HARMLS
• 2026-06-08 Sold (Public Records) — Public Records
• 2026-06-07 Listed for Rent $1,750 HARMLS
• 2026-06-04 Sold (MLS) — HARMLS
• 2026-05-20 Pending — HARMLS
• 2026-05-12 Listing Removed — HARMLS
• 2026-05-12 Listed $159,900 HARMLS
• 2026-05-11 Price Changed $159,900 HARMLS
• 2026-04-07 Listed $164,900 HARMLS
• 2026-02-06 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,162 · +11.7% YoY. Source: county tax records.