12603 Telge Rd Unit 31 E-H · Houston, TX 77429

$829,900

12 bd · 10.0 ba · 6,780 sqft · MultiFamily · 127 Days on market

Built 2020 Good condition 3,185 sqft lot $122/sqft · at area comps Est $845k · at est. $350/mo HOA · 18% of rent ↓ 1% since listing

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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 +12.6/30.0
• ARV discount +8.3/15.0
• Schools +4.4/10.0
• 1% rule +4.1/10.0
• Condition / age +4.0/5.0
• DSCR +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

Income Producing Property! Fabulous Fourplex located in Cypress, TX. This investment Gem is comprised of 4 units each in an urban style 3-story townhome floorplan. All units are 3 Bed 2.5 bath with an attached 1-car garage and private driveway; Each interior has appliance package that includes refrigerator; vinyl plank flooring, large bedroom areas, washer dryer connections and so much more. The community has controlled access gates, Swimming pool, Zip line, Play-ground, Picnic area and Dog park. Located minutes from 290 and beltway 8; close to area retail & restaurant favorites. Professional On-site Property Management handles the day to day duties; HOA maintains the grounds & exterior of buildings. Everything is already in place, all you have to do is invest. Make the call today!

Key facts

• Appliance package
• Play-ground
• Swimming pool

Tags

• APPLIANCE PACKAGE
• VINYL PLANK FLOORING
• CONTROLLED ACCESS GATES
• SWIMMING POOL
• ZIP LINE
• PLAY-GROUND

What this means for you Summary

Snapshot

• This is a 4 × 3.0-bed/2.5-bath units multifamily listed at $830k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-100 ($-1k/yr) — negative. Per door: $-25/mo.
• To cash-flow at today's rent, offer at most $815k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $758k (8.7% below list).
• Recommended offer: $730k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.1% 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: crime F.
• Cypress-Fairbanks ISD (suburban): math 45% / reading 52% proficiency, ranked #161 of 826 in TX (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lamkin El (math 31% / reading 42%, grade F, #1,883 of 4,322 statewide, top 44%, 893 students, 69% FRL); Arnold Middle (math 48% / reading 52%, grade C, #347 of 1,662 statewide, top 21%, 1,414 students, 67% FRL); Cypress-Fairbanks J J A E P (12 students, 0% FRL) — zoned schools at 45% FRL track the district average.
• Market conditions: Rents soft (-1.2%/yr); 618 active listings in the ZIP; high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $7,576/mo this rent would consume 76% of the median local household income ($119k/yr) (locally 1264% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $6k of loan paydown is wiped out by about $25k 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 127 days — a 12% lower offer ($730k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

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 $730,312 (12.0% 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. It's been on market 127 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
4. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 0.91% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.52%
• DSCR: 0.98
• GRM: 9.1

CMA / ARV

• ARV (median comp): $844,576
• List price: $829,900
• Delta: -1.74%
• Verdict: FAIR
• Comps: 18 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12603 Telge Rd Unit 8 I-L	0.11mi	12/8.0	6,780 (0%)	4mo	$799,000	$118	84
12603 Telge Rd Unit 19 E-H	0.13mi	12/12.0	6,780 (0%)	14mo	$790,000	$117	74
12603 Telge Rd Unit 18 A-D	0.11mi	12/12.0	6,780 (0%)	18mo	$840,000	$124	72
12603 Telge Rd Unit 18 E-H	0.11mi	12/12.0	6,780 (0%)	18mo	$840,000	$124	72

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: -20.7%
• Equity multiple: 0.30×
• Total profit: $-162,735
• Equity at exit: $123,741

10-year hold

• IRR: -23.6%
• Equity multiple: -0.01×
• Total profit: $-234,390
• Equity at exit: $71,755

Cash invested: $232,372 (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 77429

• Rents YoY: -1.2%
• Active inventory: 618
• Price-to-rent: 36.5×

Monthly cashflow live

• Estimated rent: $7,576 high
• Mortgage (P&I): −$4,352
• Tax est. 1.5%: −$1,037 /mo · $12,448/yr
• Insurance: −$346
• HOA: −$350
• Vacancy / Maint / Mgmt: −$1,591
• Net cashflow: $-100

Break-even live

Break-even rent $7,703

Max offer price $815,399

Occupancy floor 96%

Sensitivity live

Price	-10% $473	-5% $187	+0% $-100	+5% $-387	+10% $-674
Rent	-10% $-699	-5% $-399	+0% $-100	+5% $199	+10% $498
Rate	-1.0pp $318	-0.5pp $111	base $-100	+0.5pp $-315	+1.0pp $-534

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	3.0	2.5	$7,576
Total (4 units)			$7,576

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: $207,475
• Closing costs: $24,897
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $350 · $4,200/yr
• Likely covers: landscapingpool

Listing history 27 events

1. 2026-06-21
   days on market $829,900 Active 127 DOM
2. 2026-06-18
   days on market $829,900 Active 124 DOM
3. 2026-06-17
   days on market $829,900 Active 123 DOM
4. 2026-06-16
   days on market $829,900 Active 122 DOM
5. 2026-06-15
   days on market $829,900 Active 121 DOM
6. 2026-06-13
   days on market $829,900 Active 119 DOM
7. 2026-06-13
   days on market $829,900 Active 118 DOM
8. 2026-06-09
   days on market $829,900 Active 115 DOM
9. 2026-06-08
   days on market $829,900 Active 114 DOM
10. 2026-06-07
    days on market $829,900 Active 113 DOM
11. 2026-06-04
    days on market $829,900 Active 110 DOM
12. 2026-06-03
    days on market $829,900 Active 109 DOM
13. 2026-06-02
    days on market $829,900 Active 108 DOM
14. 2026-06-02
    days on market $829,900 Active 107 DOM
15. 2026-05-31
    days on market $829,900 Active 106 DOM
16. 2026-05-15
    price $829,900 810-char remark

    Show marketing remark (810 chars)

    Income Producing Property! Fabulous Fourplex located in Cypress, TX. This investment Gem is comprised of 4 units each in an urban style 3-story townhome floorplan. All units are 3 Bed 2.5 bath with an attached 1-car garage and private driveway; Each interior has appliance package that includes refrigerator; vinyl plank flooring, large bedroom areas, washer dryer connections and so much more. The community has controlled access gates, Swimming pool, Zip line, Play-ground, Picnic area and Dog park. Located minutes from 290 and beltway 8; close to area retail & restaurant favorites. Professional On-site Property Management handles the day to day duties; HOA maintains the grounds & exterior of buildings. Everything is already in place, all you have to do is invest. Make the call today!

17. 2026-02-14
    listed $839,000 Active 810-char remark

    Show marketing remark (810 chars)

    Income Producing Property! Fabulous Fourplex located in Cypress, TX. This investment Gem is comprised of 4 units each in an urban style 3-story townhome floorplan. All units are 3 Bed 2.5 bath with an attached 1-car garage and private driveway; Each interior has appliance package that includes refrigerator; vinyl plank flooring, large bedroom areas, washer dryer connections and so much more. The community has controlled access gates, Swimming pool, Zip line, Play-ground, Picnic area and Dog park. Located minutes from 290 and beltway 8; close to area retail & restaurant favorites. Professional On-site Property Management handles the day to day duties; HOA maintains the grounds & exterior of buildings. Everything is already in place, all you have to do is invest. Make the call today!

18. 2023-12-19
    soldstatus Sold 822-char remark

    Show marketing remark (822 chars)

    Newer Fourplex - Fully leased. Ready for your 1031 exchange. Starwood Farms is located in the high growth area of Northwest Houston in Cypress Texas. This neighborhood of luxury townhomes is conveniently located less than five miles from major employers, highly rated schools, shopping and an extensive highway system. Beautiful park like setting with great neighborhood amenities (pool, playground, dog park and walking trails). Each unit features a covered patio, 3 beds, 2.5 baths, gourmet kitchen, smart home system & private garage. These units have been upgraded with granite counters and stainless appliances. Onsite property management office. HOA covers the main insurance policy, exterior building maintenance, long term improvement reserves, water, sewer, trash, pool, playgrounds and grounds maintenance.

19. 2023-10-30
    status Pending 822-char remark

    Show marketing remark (822 chars)

    Newer Fourplex - Fully leased. Ready for your 1031 exchange. Starwood Farms is located in the high growth area of Northwest Houston in Cypress Texas. This neighborhood of luxury townhomes is conveniently located less than five miles from major employers, highly rated schools, shopping and an extensive highway system. Beautiful park like setting with great neighborhood amenities (pool, playground, dog park and walking trails). Each unit features a covered patio, 3 beds, 2.5 baths, gourmet kitchen, smart home system & private garage. These units have been upgraded with granite counters and stainless appliances. Onsite property management office. HOA covers the main insurance policy, exterior building maintenance, long term improvement reserves, water, sewer, trash, pool, playgrounds and grounds maintenance.

20. 2023-10-23
    status Option Pending 822-char remark

    Show marketing remark (822 chars)

    Newer Fourplex - Fully leased. Ready for your 1031 exchange. Starwood Farms is located in the high growth area of Northwest Houston in Cypress Texas. This neighborhood of luxury townhomes is conveniently located less than five miles from major employers, highly rated schools, shopping and an extensive highway system. Beautiful park like setting with great neighborhood amenities (pool, playground, dog park and walking trails). Each unit features a covered patio, 3 beds, 2.5 baths, gourmet kitchen, smart home system & private garage. These units have been upgraded with granite counters and stainless appliances. Onsite property management office. HOA covers the main insurance policy, exterior building maintenance, long term improvement reserves, water, sewer, trash, pool, playgrounds and grounds maintenance.

21. 2023-08-04
    listed $840,000 Active 822-char remark

    Show marketing remark (822 chars)

    Newer Fourplex - Fully leased. Ready for your 1031 exchange. Starwood Farms is located in the high growth area of Northwest Houston in Cypress Texas. This neighborhood of luxury townhomes is conveniently located less than five miles from major employers, highly rated schools, shopping and an extensive highway system. Beautiful park like setting with great neighborhood amenities (pool, playground, dog park and walking trails). Each unit features a covered patio, 3 beds, 2.5 baths, gourmet kitchen, smart home system & private garage. These units have been upgraded with granite counters and stainless appliances. Onsite property management office. HOA covers the main insurance policy, exterior building maintenance, long term improvement reserves, water, sewer, trash, pool, playgrounds and grounds maintenance.

22. 2023-07-06
    status Pending
23. 2023-06-24
    status Option Pending
24. 2023-06-23
    historical
25. 2023-03-19
    status Active
26. 2023-03-15
    status Option Pending
27. 2023-03-07
    listed $840,000 Active

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 23 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: $90,912
• − Mortgage interest: −$46,487
• − Property taxes: −$12,448
• − Insurance: −$4,150
• − Repairs & maintenance: −$7,273
• − Management: −$7,273
• − HOA: −$4,200
• − Depreciation: −$24,143
• Taxable loss: −$15,062
• Est. tax savings @ 24.0%: +$3,615
• After-tax cash flow: $2,412/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This fourplex is in good condition with modern updates and a well-maintained exterior. It offers a good investment opportunity with potential for further value enhancement through cosmetic upgrades.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics
• Both Upgrading flooring to hardwood or tile — Improves durability and adds value
• Both Upgrading kitchen appliances — Modernizes the space and adds value
• Both Upgrading bathrooms with modern fixtures — Enhances functionality and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Upgrading flooring to hardwood or tile — Improves durability and adds value ↑
• Both Upgrading kitchen appliances — Modernizes the space and adds value ↑
• Both Upgrading bathrooms with modern fixtures — Enhances functionality and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Cypress-Fairbanks ISD
• NCES district ID: 4816110
• Math proficiency: 45% ▼ -12.00%
• Reading proficiency: 52% ▼ -2.00%
• Median HH income: $72,025
• Composite: 43.63/100
• National rank: #2968
• State rank: #161 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): 96,334
• Household income: $119,191
• Rent vs Own: 18.8% rent · 81.2% own
• Severe rent burden: 1264.0

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: White 52% Hispanic / Latino 23% Two or more races 15% Black 11% Asian 10%
• Hispanic origin (detail): Mexican 16%
• Common ancestry: Romanian 3% Lithuanian 2% Italian 2%
• Foreign-born: 17% · Canada, Vietnam, Jamaica
• Languages at home: 73% English-only · Spanish 14% Other Indo-European 3% Vietnamese 3%

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: ▼ -125.36%
• Current HPI: 232.7267
• Rent YoY: ▼ -1.23%
• 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

-1.2% since first listed

12 events — show timeline

• 2026-05-15 Price Changed $829,900 HARMLS
• 2026-02-14 Listed $839,000 HARMLS
• 2023-12-19 Sold (MLS) — HARMLS
• 2023-10-30 Pending — HARMLS
• 2023-10-23 Pending — HARMLS
• 2023-08-04 Listed $840,000 HARMLS
• 2023-07-06 Pending — HARMLS
• 2023-06-24 Pending — HARMLS
• 2023-06-23 Listing Removed — HARMLS
• 2023-03-19 Relisted — HARMLS
• 2023-03-15 Pending — HARMLS
• 2023-03-07 Listed $840,000 HARMLS