11807 Steamboat Springs Dr · Houston, TX 77067

$105,000

3 bd · 2.0 ba · 1,520 sqft · SingleFamily public records · 7 Days on market

Built 1979 6,403 sqft lot Est $202k · 48% under $36/mo HOA · 2% of rent

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks

Investor's Dream in Prime Houston Location! Discover endless potential in this Camden Park home-ideal for renovation, rental income, or a personalized makeover. Unlock the potential of this 3-bedroom, 2-bathroom gem located in the Camden Park subdivision of Harris County. Whether you're an investor or a visionary homeowner, this property is a blank canvas ready for transformation. Highlights include a cozy fireplace, spacious living areas, and a bright sunroom perfect for relaxing or expanding your living space. Conveniently situated near major highways, shopping, and dining, this home offers both opportunity and location. Don't miss your chance to create something special in the heart of H

Key facts

• Camden park home
• Shopping
• Cozy fireplace

Tags

• CAMDEN PARK HOME
• COZY FIREPLACE
• SPACIOUS LIVING AREAS
• BRIGHT SUNROOM
• MAJOR HIGHWAYS
• SHOPPING

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $482 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Cap rate 11.8% 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 ISD (suburban): math 19% / reading 26% proficiency, ranked #730 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Joan Link El (math 22% / reading 27%, grade F, #3,052 of 4,322 statewide, top 74%, 517 students, 95% FRL); Stelle Claughton Middle (math 13% / reading 18%, grade F, #1,556 of 1,662 statewide, top 94%, 912 students, 94% FRL); Westfield H S (math 13% / reading 17%, grade F, #1,507 of 1,632 statewide, top 93%, 2,574 students, 81% FRL) — zoned schools average 90% FRL vs 66% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 64 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 36% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-2.2%/yr); year-one equity from $726 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.
• At projected returns (-2.2% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $48k; list at $105k implies a 121% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $105,000

Questions for the listing agent

1. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.50% ✓
• Cap rate: 11.81%
• Cash-on-cash: 19.69%
• DSCR: 1.88
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $202,160
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2735 Kings Canyon Ct	0.18mi	3/2.0	1,510 (-1%)	1mo	$184,950	$122	90
2754 Flintrock Cir	0.22mi	3/2.0	1,510 (-1%)	1mo	$198,725	$132	88
11718 Steamboat Springs Dr	0.10mi	3/2.0	1,566 (+3%)	3mo	$249,900	$160	88
11707 Steamboat Springs Dr	0.11mi	3/2.0	1,490 (-2%)	5mo	$184,900	$124	87
11835 Guadalupe River Dr	0.27mi	3/2.0	1,520 (0%)	2mo	$190,000	$125	86
11927 Loveland Pass Dr	0.24mi	3/2.0	1,421 (-6%)	2mo	$149,900	$105	76
11942 Silver Island Cir	0.34mi	4/2.0 (+1)	1,573 (+4%)	5mo	$214,900	$137	69
2902 Lacewing Ln	0.59mi	3/2.0	1,600 (+5%)	2mo	$176,500	$110	62
11951 Duran Canyon Ct	0.36mi	3/2.0	1,688 (+11%)	3mo	$225,000	$133	62
2610 Ridge Hollow Dr	0.40mi	3/2.0	1,725 (+14%)	1mo	$274,900	$159	58
2603 W Greens Rd W	0.66mi	3/2.0	1,419 (-7%)	3mo	$229,900	$162	56
2510 N Rim Dr	0.50mi	4/2.0 (+1)	1,700 (+12%)	1mo	$255,000	$150	51

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-2.23% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 13.9%
• Equity multiple: 1.58×
• Total profit: $17,164
• Equity at exit: $19,282

10-year hold

• IRR: 21.6%
• Equity multiple: 2.96×
• Total profit: $57,699
• Equity at exit: $15,431

Cash invested: $29,400 (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 77067

• Home prices YoY: -0.9%
• Active inventory: 64
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,575 high
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$36
• Vacancy / Maint / Mgmt: −$331
• Net cashflow: $482

Break-even live

Break-even rent $964

Max offer price $105,000

Occupancy floor 64%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11207 Veterans Memorial Dr Houston, TX	3.0	2.0	1289	$1,299	$1.01	20d	1	0.85mi
11207 Veterans Memorial Dr Houston, TX	2.0	2.0	1158	$1,143	$0.99	24d	1	0.85mi
11207 Veterans Memorial Dr Houston, TX	2.0	2.0	1158	$1,143	$0.99	43d	1	0.85mi
11201 Veterans Memorial Dr Unit 2174 Houston, TX	2.0	2.0	1158	$1,313	$1.13	3d	1	0.89mi
11201 Veterans Memorial Dr Unit 11234 Houston, TX	3.0	2.0	1251	$1,522	$1.22	43d	1	0.89mi
11201 Veterans Memorial Dr Unit 11258 Houston, TX	2.0	2.0	1117	$1,306	$1.17	43d	1	0.89mi
11201 Veterans Memorial Dr Unit 3174 Houston, TX	3.0	2.0	1251	$1,525	$1.22	3d	1	0.89mi
11201 Veterans Memorial Dr Unit 2162 Houston, TX	2.0	2.0	1158	$1,321	$1.14	7d	1	0.89mi
11319 Snow Bay Dr Houston, TX	3.0	2.0	1544	$1,756	$1.14	22d	1	0.89mi
2106 Hazyknoll Ln Houston, TX	3.0	2.0	1713	$1,751	$1.02	43d	1	0.97mi
3435 Creek Grove Dr Houston, TX	3.0	3.0	1492	$1,725	$1.16	43d	1	1.24mi
4710 Tracemeadow Dr Houston, TX	4.0	2.5	2123	$2,300	$1.08	43d	1	1.41mi

HOA detail

• Monthly dues: $36 · $432/yr

Listing history 6 events

1. 2025-08-28
   soldstatus
2. 2025-07-31
   status Pending
3. 2025-07-24
   listed $105,000 Active
4. 2025-05-28
   soldstatus
5. 2025-05-27
   soldstatus
6. 1990-08-01
   soldstatus $47,600

ⓘ 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 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 · 23 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,897
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,512
• − Management: −$1,512
• − HOA: −$432
• − Depreciation: −$3,055
• Taxable income: $4,405
• Est. tax owed @ 24.0%: −$1,057
• After-tax cash flow: $4,732/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 ISD
• NCES district ID: 4841220
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $51,584
• Composite: 20.12/100
• National rank: #8643
• State rank: #730 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

• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 30,491
• Household income: $52,032
• Rent vs Own: 53.2% rent · 46.8% own
• Severe rent burden: 1837.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 55% Black 32% Two or more races 20% Asian 6% White 4% Native American 1%
• Hispanic origin (detail): Mexican 35% Puerto Rican 2%
• Foreign-born: 29% · Canada, Vietnam, Jamaica
• Languages at home: 42% English-only · Spanish 50% Vietnamese 2% Other Indo-European 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: ▼ -2.23%
• Current HPI: 236.791
• Rent YoY: —
• 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

+120.6% since first listed

6 events — show timeline

• 2025-08-28 Sold (Public Records) — Public Records
• 2025-07-31 Pending — HARMLS
• 2025-07-24 Listed $105,000 HARMLS
• 2025-05-28 Sold (Public Records) — Public Records
• 2025-05-27 Sold (Public Records) — Public Records
• 1990-08-01 Sold (Public Records) $47,600 Public Records

Property tax history

+3.8%/yr

Latest (2025): $5,354 · +11.3% YoY. Source: county tax records.