10912 Gulf Fwy #70 · Houston, TX 77034

$62,999

2 bd · 2.5 ba · 1,272 sqft · Condo public records · 3 Days on market

Built 1980 $340/mo HOA · 27% of rent

---

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 +22.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Livability +3.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

* Investors Special!!! * 2-bedroom, 2.5-bath condo with great potential for renovation. Conveniently located near I-45, Beltway 8, shopping, dining, and Hobby Airport. Property offers an excellent opportunity for investors or buyers looking to add value. Bring your vision and make it your own!

Key facts

• $340 HOA
• Community pool
• Built 1980

Tags

• CONVENIENTLY LOCATED NEAR I-45

Property features AI

Finance

• Other: Seller disclosure available
• HOA & community: Monthly HOA managed by Associa Houston Community Mgmt — $340/month (includes common areas and trash); Community pool

Exterior

• Utilities: Public water supply; Public sewer
• Home design: Residential property; Two-story; Built in 1980; Slab foundation
• Construction: Vinyl siding construction; Composition roof; Slab foundation; Built in 1980
• Exterior features: Composition roof; Vinyl siding; Public water; Public sewer; Large lot (lot area provided in square feet)

Interior

• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: One fireplace; Two total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $63k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $63k).
• Cap rate 8.3% 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.
• Pasadena ISD (suburban): math 29% / reading 32% proficiency, ranked #612 of 826 in TX (top 74%) — 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: Rick Schneider Middle (math 12% / reading 18%, grade F, #1,569 of 1,662 statewide, top 95%, 575 students, 92% FRL); South Houston H S (math 50% / reading 33%, grade F, #767 of 1,632 statewide, top 47%, 2,213 students, 87% FRL) — zoned schools average 90% FRL vs 71% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.4%/yr); 93 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 $435 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.7% of price; HOA is 27% 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 $62,999

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.00% ✓
• Cap rate: 8.30%
• Cash-on-cash: 7.18%
• DSCR: 1.32
• GRM: 4.2

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: -11.4%
• Equity multiple: 0.61×
• Total profit: $-6,882
• Equity at exit: $9,393

10-year hold

• IRR: -13.8%
• Equity multiple: 0.41×
• Total profit: $-10,397
• Equity at exit: $5,447

Cash invested: $17,640 (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 77034

• Home prices YoY: -15.1%
• Rents YoY: -1.4%
• Active inventory: 93
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,260 high
• Mortgage (P&I): −$330
• Tax from tax record: −$193 /mo · $2,318/yr
• Insurance: −$26
• HOA: −$340
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $106

Break-even live

Break-even rent $1,126

Max offer price $62,999

Occupancy floor 87%

Sensitivity live

Price	-10% $141	-5% $123	+0% $106	+5% $88	+10% $70
Rent	-10% $6	-5% $56	+0% $106	+5% $155	+10% $205
Rate	-1.0pp $137	-0.5pp $122	base $106	+0.5pp $89	+1.0pp $73

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: $15,750
• Closing costs: $1,890
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10915 Gulf Fwy Houston, TX	3.0	3.0	1286	$1,400	$1.09	45d	1	0.08mi
10915 Gulf Fwy Houston, TX	3.0	3.0	1286	$1,400	$1.09	22d	1	0.08mi
10915 Gulf Fwy Houston, TX	2.0	2.0	1060	$1,110	$1.05	21d	1	0.08mi
10915 Gulf Fwy Houston, TX	2.0	2.0	1060	$1,110	$1.05	23d	1	0.08mi
10909 Gulf Fwy Houston, TX	1.0–2.0	1.0–2.0	816	$1,430	$1.75	0d	151	0.19mi
8600 Theta St Houston, TX	1.0–2.0	1.0–2.0	766	$1,179	$1.54	0d	24	0.27mi
9806 Hollock St Houston, TX	2.0	2.0	965	$1,111	$1.15	25d	1	0.30mi
9800 Hollock St Houston, TX	1.0–2.0	1.0–2.0	820	$1,315	$1.60	3d	33	0.36mi
9220 Nathaniel St Unit 9253 Houston, TX	3.0	2.0	1200	$1,294	$1.08	0d	1	0.38mi
13 Ledge St Houston, TX	3.0	2.0	1200	$1,079	$0.90	21d	1	0.40mi
9465 Clearwood Dr Unit 2174 Houston, TX	2.0	2.0	1029	$1,265	$1.23	0d	1	0.43mi
9465 Clearwood Dr Unit 9498 Houston, TX	3.0	2.0	1232	$1,324	$1.07	0d	1	0.43mi
9465 Clearwood Dr Unit 9522 Houston, TX	2.0	2.0	1029	$1,224	$1.19	0d	1	0.43mi
9465 Clearwood Dr Unit 3174 Houston, TX	3.0	2.0	1232	$1,375	$1.12	0d	1	0.43mi
9465 Clearwood Dr Unit 2162 Houston, TX	2.0	2.0	1029	$1,240	$1.21	6d	1	0.43mi
9815 Almeda-Genoa Rd Unit 9848 Houston, TX	3.0	2.0	1290	$1,773	$1.37	0d	1	0.54mi
9815 Almeda-Genoa Rd Unit 510 Houston, TX	3.0	2.0	1290	$1,773	$1.37	14d	1	0.54mi
9815 Almeda-Genoa Rd Unit 9842 Houston, TX	2.0	2.0	956	$1,463	$1.53	0d	1	0.54mi
10100 Almeda-Genoa Rd Unit 2047 Houston, TX	2.0	2.0	1052	$1,492	$1.42	0d	1	0.57mi
10100 Almeda-Genoa Rd Unit 3165 Houston, TX	3.0	2.0	1230	$1,938	$1.58	0d	1	0.62mi
10100 Almeda-Genoa Rd Unit 10157 Houston, TX	2.0	2.0	1052	$1,467	$1.39	45d	1	0.62mi
10100 Almeda-Genoa Rd Unit 10133 Houston, TX	3.0	2.0	1230	$1,978	$1.61	11d	1	0.62mi
10100 Almeda-Genoa Rd Unit 10137 Houston, TX	2.0	2.0	1052	$1,491	$1.42	11d	1	0.62mi
10100 Almeda-Genoa Rd Unit 2112 Houston, TX	2.0	2.0	1052	$1,451	$1.38	0d	1	0.62mi
1221 Redford St Houston, TX	1.0–3.0	1.0–2.0	877	$940	$1.07	0d	71	0.67mi
1227 Redford St Houston, TX	2.0	2.0	966	$1,184	$1.23	25d	1	0.71mi
9757 Windwater Dr Unit 2047 Houston, TX	2.0	2.0	1017	$1,290	$1.27	12d	1	0.78mi
9757 Windwater Dr Unit 9814 Houston, TX	2.0	2.0	1017	$1,239	$1.22	0d	1	0.78mi
9763 Windwater Dr Houston, TX	2.0	1.0	916	$1,149	$1.25	45d	1	0.81mi
9994 Windmill Lakes Blvd Unit 817 Houston, TX	2.0	2.0	1047	$1,280	$1.22	45d	1	0.81mi
1223 Shawnee St Houston, TX	3.0	1.0	1101	$1,695	$1.54	45d	1	0.82mi
9750 Windwater Dr Houston, TX	1.0–2.0	1.0–2.0	856	$1,788	$2.09	0d	16	0.85mi
9988 Windmill Lakes Blvd Houston, TX	1.0–2.0	1.0–2.0	859	$1,324	$1.54	0d	15	0.87mi
9988 Windmill Lakes Blvd Unit 10045 Houston, TX	2.0	2.0	1047	$1,125	$1.07	18d	1	0.87mi
10721 Katya Gillian Dr Houston, TX	2.0	2.0	936	$1,385	$1.48	45d	1	1.00mi
10121 Windmill Lakes Blvd Unit 10136 Houston, TX	1.0	1.0	877	$1,282	$1.46	14d	1	1.03mi
10121 Windmill Lakes Blvd Unit 10178 Houston, TX	2.0	2.0	1009	$1,260	$1.25	23d	1	1.03mi
10121 Windmill Lakes Blvd Unit 10158 Houston, TX	2.0	2.0	914	$1,434	$1.57	11d	1	1.03mi
10121 Windmill Lakes Blvd Unit 2165 Houston, TX	2.0	2.0	914	$1,394	$1.53	0d	1	1.03mi
10121 Windmill Lakes Blvd Unit 2148 Houston, TX	2.0	2.0	914	$1,435	$1.57	0d	1	1.03mi

HOA detail condo

• Monthly dues: $340 · $4,080/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-21
   days on market $62,999 Active 3 DOM
2. 2026-06-18
   remarks 294-char remark
3. 2026-06-18
   listed $62,999 Active 1 DOM

ⓘ 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: $2,318 · $193/mo
• Projected year-2 tax: $2,318 · $193/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) · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,118
• − Mortgage interest: −$3,529
• − Property taxes: −$2,318
• − Insurance: −$315
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − HOA: −$4,080
• − Depreciation: −$1,833
• Taxable income: $625
• Est. tax owed @ 24.0%: −$150
• After-tax cash flow: $1,116/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: Pasadena ISD
• NCES district ID: 4834320
• Math proficiency: 29% ▼ -17.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $45,163
• Composite: 26.15/100
• National rank: #7275
• State rank: #612 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): 36,456
• Household income: $58,217
• Rent vs Own: 49.0% rent · 51.0% own
• Severe rent burden: 1809.0

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 (71%)
• Race & ethnicity: Hispanic / Latino 71% Two or more races 32% Black 11% White 11% Asian 5% Native American 2%
• Hispanic origin (detail): Mexican 51% Puerto Rican 1%
• Foreign-born: 32% · Canada, Vietnam, China
• Languages at home: 35% English-only · Spanish 60% Vietnamese 2% Other Asian/Pacific 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: ▼ -48.32%
• Current HPI: 272.1697
• Rent YoY: ▼ -1.36%
• 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

5 events — show timeline

• 2026-06-18 Listed $62,999 HARMLS
• 2013-01-03 Sold (Public Records) — Public Records
• 2008-04-02 Sold (Public Records) — Public Records
• 2001-07-06 Sold (Public Records) — Public Records
• 1999-07-07 Sold (Public Records) — Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,318 · -1.3% YoY. Source: county tax records.