12656 Windsor Village Dr #2656 · Houston, TX 77071

$75,000

2 bd · 1.5 ba · 1,120 sqft · Condo public records · 365 Days on market

Built 1985 $67/sqft · 24% below area Est $98k · 24% under $370/mo HOA · 28% of rent ↓ 17% 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 +17.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +5.3/10.0
• Appreciation +4.6/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0

Listing remarks MLS

Turnkey Investment Opportunity – 2BR/1.5BA Condo in Prime Location! Welcome to this highly desirable gated community! This spacious 2-bedroom, 1.5-bath, 2-story condo is waiting for new family. Located just minutes from I-8, public transportation & shopping, this unit offers unbeatable convenience and accessibility. The well-maintained complex features secure access, landscaped common areas, assigned parking. HOA just replaced all roof last a couple years Inside, enjoy a comfortable floor plan with two upstairs bedrooms, an open-concept living area, and a private patio—ideal for renters seeking both function and comfort. Low HOA fees and strong rental portfolio for investment. Personal touch will make it shine

Key facts

• Gated community
• Private patio
• Assigned parking

Tags

• TURNKEY INVESTMENT OPPORTUNITY
• GATED COMMUNITY
• SECURE ACCESS
• LANDSCAPED COMMON AREAS
• ASSIGNED PARKING
• PRIVATE PATIO

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $51 ($617/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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: schools D, 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.
• Market conditions: Rents soft (-1.5%/yr); 133 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 (-0.7%/yr); year-one equity from $519 of loan paydown is wiped out by about $545 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 365 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; HOA is 28% of rent.
• 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 $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 365 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.76% ✓
• Cap rate: 7.12%
• Cash-on-cash: 2.94%
• DSCR: 1.13
• GRM: 4.7

CMA / ARV

• ARV (median comp): $98,437
• List price: $75,000
• Delta: -23.81%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-0.73% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.6%
• Equity multiple: 0.76×
• Total profit: $-5,003
• Equity at exit: $19,090

10-year hold

• IRR: -3.9%
• Equity multiple: 0.68×
• Total profit: $-6,744
• Equity at exit: $20,899

Cash invested: $21,000 (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 77071

• Home prices YoY: -0.3%
• Rents YoY: -1.5%
• Active inventory: 133
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,319 high
• Mortgage (P&I): −$393
• Tax from tax record: −$196 /mo · $2,353/yr
• Insurance: −$31
• HOA: −$370
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $51

Break-even live

Break-even rent $1,254

Max offer price $75,000

Occupancy floor 91%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8300 W Airport Blvd Houston, TX	1.0–2.0	1.0–2.0	780	$1,130	$1.45	14d	1	0.60mi
12706 Riceville School Rd Stafford, TX	2.0	2.0	1235	$1,570	$1.27	43d	1	0.60mi
12700 Stafford Rd Stafford, TX	1.0–3.0	1.0–2.0	1130	$1,447	$1.28	2d	14	0.65mi
12660 Stafford Rd Stafford, TX	1.0–3.0	1.0–2.0	1027	$1,478	$1.44	2d	43	0.69mi
8030 W Airport Blvd Houston, TX	1.0–2.0	1.0–2.0	780	$1,044	$1.34	1d	31	0.74mi
7706 W Airport Blvd Houston, TX	2.0	1.0	875	$1,080	$1.23	43d	1	1.20mi
7700 W Airport Blvd Unit 7757 Houston, TX	2.0	2.0	1005	$1,232	$1.23	14d	1	1.21mi
8207 W Bellfort Ave Houston, TX	2.0	2.0	982	$990	$1.01	18d	1	1.25mi
8207 W Bellfort Ave Houston, TX	2.0	2.0	982	$990	$1.01	43d	1	1.25mi
8201 W Bellfort Ave Unit 510 Houston, TX	3.0	2.0	1203	$1,157	$0.96	3d	1	1.31mi
8201 W Bellfort Ave Unit 2162 Houston, TX	2.0	2.0	848	$955	$1.13	5d	1	1.31mi
8201 W Bellfort Ave Unit 422 Houston, TX	2.0	2.0	848	$955	$1.13	7d	1	1.31mi
8888 Benning Dr Houston, TX	3.0	3.0	1472	$1,750	$1.19	43d	1	1.39mi
12271 Fondren Rd Houston, TX	2.0	2.0	1007	$1,050	$1.04	18d	1	1.48mi
12271 Fondren Rd Houston, TX	2.0	2.0	1007	$1,050	$1.04	22d	1	1.48mi

HOA detail condo

• Monthly dues: $370 · $4,440/yr
• Likely covers: securityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $75,000 Active 365 DOM
2. 2026-06-17
   days on market $75,000 Active 364 DOM
3. 2026-06-16
   days on market $75,000 Active 363 DOM
4. 2026-06-15
   days on market $75,000 Active 362 DOM
5. 2026-06-13
   days on market $75,000 Active 360 DOM
6. 2026-06-10
   days on market $75,000 Active 356 DOM
7. 2026-06-08
   days on market $75,000 Active 355 DOM
8. 2026-06-07
   days on market $75,000 Active 354 DOM
9. 2026-06-04
   days on market $75,000 Active 351 DOM
10. 2026-06-01
    days on market $75,000 Active 348 DOM
11. 2026-05-31
    days on market $75,000 Active 347 DOM
12. 2026-05-17
    price $75,000 741-char remark

    Show marketing remark (741 chars)

    Turnkey Investment Opportunity – 2BR/1.5BA Condo in Prime Location! Welcome to this highly desirable gated community! This spacious 2-bedroom, 1.5-bath, 2-story condo is waiting for new family. Located just minutes from I-8, public transportation & shopping, this unit offers unbeatable convenience and accessibility. The well-maintained complex features secure access, landscaped common areas, assigned parking. HOA just replaced all roof last a couple years Inside, enjoy a comfortable floor plan with two upstairs bedrooms, an open-concept living area, and a private patio—ideal for renters seeking both function and comfort. Low HOA fees and strong rental portfolio for investment. Personal touch will make it shine

13. 2026-01-03
    price $70,000 741-char remark

    Show marketing remark (741 chars)

    Turnkey Investment Opportunity – 2BR/1.5BA Condo in Prime Location! Welcome to this highly desirable gated community! This spacious 2-bedroom, 1.5-bath, 2-story condo is waiting for new family. Located just minutes from I-8, public transportation & shopping, this unit offers unbeatable convenience and accessibility. The well-maintained complex features secure access, landscaped common areas, assigned parking. HOA just replaced all roof last a couple years Inside, enjoy a comfortable floor plan with two upstairs bedrooms, an open-concept living area, and a private patio—ideal for renters seeking both function and comfort. Low HOA fees and strong rental portfolio for investment. Personal touch will make it shine

14. 2026-01-03
    status Active 741-char remark

    Show marketing remark (741 chars)

    Turnkey Investment Opportunity – 2BR/1.5BA Condo in Prime Location! Welcome to this highly desirable gated community! This spacious 2-bedroom, 1.5-bath, 2-story condo is waiting for new family. Located just minutes from I-8, public transportation & shopping, this unit offers unbeatable convenience and accessibility. The well-maintained complex features secure access, landscaped common areas, assigned parking. HOA just replaced all roof last a couple years Inside, enjoy a comfortable floor plan with two upstairs bedrooms, an open-concept living area, and a private patio—ideal for renters seeking both function and comfort. Low HOA fees and strong rental portfolio for investment. Personal touch will make it shine

15. 2025-12-31
    historical 741-char remark

    Show marketing remark (741 chars)

    Turnkey Investment Opportunity – 2BR/1.5BA Condo in Prime Location! Welcome to this highly desirable gated community! This spacious 2-bedroom, 1.5-bath, 2-story condo is waiting for new family. Located just minutes from I-8, public transportation & shopping, this unit offers unbeatable convenience and accessibility. The well-maintained complex features secure access, landscaped common areas, assigned parking. HOA just replaced all roof last a couple years Inside, enjoy a comfortable floor plan with two upstairs bedrooms, an open-concept living area, and a private patio—ideal for renters seeking both function and comfort. Low HOA fees and strong rental portfolio for investment. Personal touch will make it shine

16. 2025-07-03
    price $85,000 741-char remark

    Show marketing remark (741 chars)

    Turnkey Investment Opportunity – 2BR/1.5BA Condo in Prime Location! Welcome to this highly desirable gated community! This spacious 2-bedroom, 1.5-bath, 2-story condo is waiting for new family. Located just minutes from I-8, public transportation & shopping, this unit offers unbeatable convenience and accessibility. The well-maintained complex features secure access, landscaped common areas, assigned parking. HOA just replaced all roof last a couple years Inside, enjoy a comfortable floor plan with two upstairs bedrooms, an open-concept living area, and a private patio—ideal for renters seeking both function and comfort. Low HOA fees and strong rental portfolio for investment. Personal touch will make it shine

17. 2025-06-15
    listed $90,000 Active 741-char remark

    Show marketing remark (741 chars)

    Turnkey Investment Opportunity – 2BR/1.5BA Condo in Prime Location! Welcome to this highly desirable gated community! This spacious 2-bedroom, 1.5-bath, 2-story condo is waiting for new family. Located just minutes from I-8, public transportation & shopping, this unit offers unbeatable convenience and accessibility. The well-maintained complex features secure access, landscaped common areas, assigned parking. HOA just replaced all roof last a couple years Inside, enjoy a comfortable floor plan with two upstairs bedrooms, an open-concept living area, and a private patio—ideal for renters seeking both function and comfort. Low HOA fees and strong rental portfolio for investment. Personal touch will make it shine

18. 2013-09-27
    soldstatus
19. 1992-02-06
    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: $2,353 · $196/mo
• Projected year-2 tax: $2,353 · $196/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 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: $15,828
• − Mortgage interest: −$4,201
• − Property taxes: −$2,353
• − Insurance: −$375
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − HOA: −$4,440
• − Depreciation: −$2,182
• Taxable loss: −$255
• Est. tax savings @ 24.0%: +$61
• After-tax cash flow: $678/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): 27,056
• Household income: $54,139
• Rent vs Own: 48.9% rent · 51.1% own
• Severe rent burden: 1242.0

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 0.69)
• Race & ethnicity: Black 46% Hispanic / Latino 26% White 17% Two or more races 8% Asian 7%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 2% Scotch-Irish 1% Lithuanian 1%
• Foreign-born: 33% · Canada, Vietnam, China
• Languages at home: 58% English-only · Spanish 25% Vietnamese 3% Chinese 2%

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: ▼ -0.73%
• Current HPI: 250.0788
• Rent YoY: ▼ -1.51%
• 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

-16.7% since first listed

8 events — show timeline

• 2026-05-17 Price Changed $75,000 HARMLS
• 2026-01-03 Price Changed $70,000 HARMLS
• 2026-01-03 Relisted — HARMLS
• 2025-12-31 Listing Removed — HARMLS
• 2025-07-03 Price Changed $85,000 HARMLS
• 2025-06-15 Listed $90,000 HARMLS
• 2013-09-27 Sold (Public Records) — Public Records
• 1992-02-06 Sold (Public Records) — Public Records

Property tax history

+10.8%/yr

Latest (2025): $2,353 · +6.4% YoY. Source: county tax records.