11711 Memorial Dr #203 · Houston, TX 77024

$175,000

1 bd · 1.5 ba · 1,120 sqft · Condo public records · 143 Days on market

Built 1977 $156/sqft · 17% below area Est $212k · 17% under $469/mo HOA · 32% of rent ↓ 7% 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).

• ARV discount +15.0/15.0
• Appreciation +8.5/10.0
• Schools +4.1/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Condition / age +2.5/5.0
• Cash flow +1.9/30.0
• DSCR +0.0/10.0

Listing remarks MLS

Secluded condo in lovely Hudson Oaks; this unit is on the far west side of the complex, heavily wooded area, next to Sandalwood. Peaceful & quiet, yet just a few steps to the beautiful pool and greenbelt. Living, dining & kitchen are down. Spacious primary suite w/cathedral ceiling is up along w/an extra bonus room that can be used as a study, reading nook, exercise, etc. This "C" plan is a walk-through unit w/a front & back door leading to a decked patio with its own pine tree and 2 reserved parking spaces. Longtime owner had to move to senior living. It's been lovingly maintained; just needs a little TLC. AC new in '22, garbage disp in '24, Pl shutters in LR. Quite livable; you may want to add your personal touches! These walk-through "C" units are rare! HOA covers maintenance of pools & grounds, all exteriors, water, sewer, trash, Xfinity internet, and 24/7 manned entry. Come home to Hudson Oaks (a former boy scout camp grounds) in the heart of Memorial!

Key facts

• Walk-through unit
• Decked patio
• Bonus room

Tags

• SECLUDED CONDO
• HEAVILY WOODED AREA
• BONUS ROOM
• DECKED PATIO
• RESERVED PARKING SPACES
• WALK-THROUGH UNIT

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $-657 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $81k (53.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $144k (17.5% below list).
• Recommended offer: $81k (53.7% below list) — sets the bar for cash-flow.
• Cap rate 1.8% vs local median 3.2% in Houston — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 Branch ISD (urban): math 47% / reading 46% proficiency, ranked #215 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Frostwood El (math 84% / reading 73%, grade A, #48 of 4,322 statewide, top 1%, 798 students, 12% FRL); Memorial Middle (math 81% / reading 70%, grade A, #33 of 1,662 statewide, top 2%, 1,281 students, 12% FRL); Memorial H S (math 73% / reading 85%, grade A-, #50 of 1,632 statewide, top 3%, 2,555 students, 16% FRL) — zoned schools average 13% FRL vs 54% district-wide (41 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 78% at this address vs 46% district-wide (+31 pts) — the actual schools serving this property are materially stronger than the Spring Branch ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.0%/yr); 313 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($1k loan paydown + $12k appreciation (6.9% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 143 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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

• Watch-outs: HOA is 32% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $80,940 (53.7% 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 143 days. Have you received any prior offers? Is the seller open to a 54% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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: 0.82% ✗
• Cap rate: 1.79%
• Cash-on-cash: -16.08%
• DSCR: 0.28
• GRM: 10.1

CMA / ARV

• ARV (median comp): $211,915
• List price: $175,000
• Delta: -17.42%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

6.92% appreciation · 4.96% rent growth · sell at horizon

5-year hold

• IRR: 6.1%
• Equity multiple: 1.44×
• Total profit: $21,731
• Equity at exit: $120,366

10-year hold

• IRR: 9.0%
• Equity multiple: 3.08×
• Total profit: $101,801
• Equity at exit: $227,825

Cash invested: $49,000 (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 77024

• Home prices YoY: 2.8%
• Rents YoY: 5.0%
• Active inventory: 313
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,444 high
• Mortgage (P&I): −$918
• Tax from tax record: −$337 /mo · $4,047/yr
• Insurance: −$73
• HOA: −$469
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $-657

Break-even live

Break-even rent $2,275

Max offer price $80,940

Occupancy floor —

Sensitivity live

Price	-10% $-557	-5% $-607	+0% $-657	+5% $-706	+10% $-756
Rent	-10% $-771	-5% $-714	+0% $-657	+5% $-599	+10% $-542
Rate	-1.0pp $-568	-0.5pp $-612	base $-657	+0.5pp $-702	+1.0pp $-748

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9449 Briar Forest Dr Houston, TX	1.0–4.0	1.0–2.5	1341	$735	$0.55	0d	45	0.51mi
2100 Tanglewilde St Houston, TX	1.0–2.0	1.0–2.5	848	$1,000	$1.18	45d	5	0.62mi
14 S Gessner Rd Houston, TX	2.0	2.0	1050	$1,115	$1.06	20d	1	0.63mi
14 S Gessner Rd Houston, TX	2.0	2.0	1050	$1,115	$1.06	45d	1	0.63mi
2033 S Gessner Rd Unit 1047 Houston, TX	1.0	1.0	742	$1,301	$1.75	4d	1	0.79mi
9550 Ella Lee Ln Houston, TX	1.0–2.0	1.0–2.0	944	$680	$0.72	0d	28	0.79mi
2033 S Gessner Rd Unit 2174 Houston, TX	2.0	2.0	1493	$2,149	$1.44	12d	1	0.79mi
2033 S Gessner Rd Unit 2148 Houston, TX	2.0	2.0	1493	$2,150	$1.44	0d	1	0.79mi
2033 S Gessner Rd Unit 1174 Houston, TX	1.0	1.0	742	$1,405	$1.89	15d	1	0.79mi
2033 S Gessner Rd Unit 1112 Houston, TX	1.0	1.0	742	$1,251	$1.69	0d	1	0.79mi
2033 S Gessner Rd Unit 422 Houston, TX	2.0	2.0	1493	$2,125	$1.42	9d	1	0.79mi
2033 S Gessner Rd Unit 324 Houston, TX	1.0	1.0	742	$1,262	$1.70	9d	1	0.79mi
2033 S Gessner Rd Unit 2165 Houston, TX	2.0	2.0	1493	$2,109	$1.41	0d	1	0.79mi
2033 S Gessner Rd Unit 1174 Houston, TX	1.0	1.0	742	$1,292	$1.74	0d	1	0.79mi
2033 S Gessner Rd Unit 2054 Houston, TX	1.0	1.0	742	$1,301	$1.75	12d	1	0.79mi
2033 S Gessner Rd Unit 2048 Houston, TX	1.0	1.0	742	$1,410	$1.90	15d	1	0.79mi
2033 S Gessner Rd Unit 2054 Houston, TX	1.0	1.0	742	$1,330	$1.79	45d	1	0.79mi
2033 S Gessner Rd Unit 2187 Houston, TX	2.0	2.0	1493	$2,149	$1.44	4d	1	0.79mi
2033 S Gessner Rd Unit 2070 Houston, TX	2.0	2.0	1493	$2,160	$1.45	13d	1	0.79mi
2222 Westerland Dr Houston, TX	1.0–3.0	1.0–2.5	1355	$899	$0.66	5d	6	0.80mi
2061 S Gessner Rd Unit 260 Houston, TX	2.0	2.0	1244	$1,874	$1.51	45d	1	0.82mi
9545 Ella Lee Ln Houston, TX	1.0–2.0	1.0–2.0	807	$624	$0.77	1d	44	0.86mi
2401 S Gessner Rd Houston, TX	1.0	1.0	990	$1,224	$1.24	14d	1	0.89mi
2401 S Gessner Rd Houston, TX	2.0	2.0	1196	$1,660	$1.39	45d	1	0.89mi
2501 Westerland Dr Houston, TX	2.0	2.0	612	$1,268	$2.07	1d	90	0.92mi
2401 S Gessner Rd Unit 1187 Houston, TX	1.0	1.0	990	$1,224	$1.24	0d	1	0.92mi
2401 S Gessner Rd Unit 2187 Houston, TX	2.0	2.0	1214	$1,424	$1.17	0d	1	0.92mi
2401 S Gessner Rd Unit 424 Houston, TX	2.0	2.0	1214	$1,440	$1.19	9d	1	0.93mi
2401 S Gessner Rd Unit 2422 Houston, TX	1.0	1.0	986	$1,270	$1.29	15d	1	0.93mi
2401 S Gessner Rd Unit 2422 Houston, TX	1.0	1.0	990	$1,274	$1.29	12d	1	0.93mi
2401 S Gessner Rd Apt 323 Houston, TX	1.0	1.0	990	$1,235	$1.25	9d	1	0.93mi
2401 S Gessner Rd Unit 2458 Houston, TX	2.0	2.0	1196	$1,545	$1.29	45d	1	0.93mi
2401 S Gessner Rd Unit 2438 Houston, TX	2.0	2.0	1214	$1,464	$1.21	12d	1	0.93mi
2411 Fondren Rd Unit 2448 Houston, TX	2.0	2.0	1123	$2,020	$1.80	45d	1	0.94mi
2411 Fondren Rd Unit 1174 Houston, TX	1.0	1.0	773	$1,529	$1.98	15d	1	0.94mi
2411 Fondren Rd Unit 2174 Houston, TX	2.0	2.0	1123	$2,020	$1.80	15d	1	0.94mi
2200 S Gessner Rd Unit 321 Houston, TX	1.0	1.0	712	$753	$1.06	9d	1	0.95mi
2200 S Gessner Rd Unit 2274 Houston, TX	1.0	1.0	712	$802	$1.13	15d	1	0.95mi
2200 S Gessner Rd Unit 1162 Houston, TX	1.0	1.0	712	$753	$1.06	7d	1	0.95mi
2200 S Gessner Rd Unit 2257 Houston, TX	2.0	2.0	1311	$1,098	$0.84	0d	1	0.95mi

HOA detail condo

• Monthly dues: $469 · $5,628/yr
• Likely covers: watersewertrashinternetlandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-13
   days on market $175,000 Active 143 DOM
2. 2026-06-09
   days on market $175,000 Active 139 DOM
3. 2026-06-08
   days on market $175,000 Active 138 DOM
4. 2026-06-07
   days on market $175,000 Active 137 DOM
5. 2026-06-04
   days on market $175,000 Active 134 DOM
6. 2026-06-03
   days on market $175,000 Active 133 DOM
7. 2026-06-02
   days on market $175,000 Active 132 DOM
8. 2026-06-01
   days on market $175,000 Active 131 DOM
9. 2026-05-31
   days on market $175,000 Active 130 DOM
10. 2026-01-21
    listed $175,000 Active 1007-char remark

    Show marketing remark (1007 chars)

    Secluded condo in lovely Hudson Oaks; this unit is on the far west side of the complex, heavily wooded area, next to Sandalwood. Peaceful & quiet, yet just a few steps to the beautiful pool and greenbelt. Living, dining & kitchen are down. Spacious primary suite w/cathedral ceiling is up along w/an extra bonus room that can be used as a study, reading nook, exercise, etc. This "C" plan is a walk-through unit w/a front & back door leading to a decked patio with its own pine tree and 2 reserved parking spaces. Longtime owner had to move to senior living. It's been lovingly maintained; just needs a little TLC. AC new in '22, garbage disp in '24, Pl shutters in LR. Quite livable; you may want to add your personal touches! These walk-through "C" units are rare! HOA covers maintenance of pools & grounds, all exteriors, water, sewer, trash, Xfinity internet, and 24/7 manned entry. Come home to Hudson Oaks (a former boy scout camp grounds) in the heart of Memorial!

11. 2026-01-19
    historical
12. 2025-11-29
    listed $177,500 Active
13. 2025-11-19
    historical
14. 2025-08-25
    price $180,000
15. 2025-06-07
    price $185,000
16. 2025-03-18
    listed $189,000 Active
17. 2025-03-17
    historical
18. 1988-09-29
    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: $4,047 · $337/mo
• Projected year-2 tax: $4,047 · $337/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 3/10 Moderate FEMA zone X (unshaded) · 10% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 6 d/yr ≥110°F today · 19 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $17,322
• − Mortgage interest: −$9,803
• − Property taxes: −$4,047
• − Insurance: −$875
• − Repairs & maintenance: −$1,386
• − Management: −$1,386
• − HOA: −$5,628
• − Depreciation: −$5,091
• Taxable loss: −$10,893
• Est. tax savings @ 24.0%: +$2,614
• After-tax cash flow: $-5,264/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 Branch ISD
• NCES district ID: 4841100
• Math proficiency: 47% ▼ -4.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $60,311
• Composite: 40.88/100
• National rank: #3624
• State rank: #215 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): 38,288
• Household income: $136,149
• Rent vs Own: 36.7% rent · 63.3% own
• Severe rent burden: 1144.0

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 White (67%)
• Race & ethnicity: White 67% Asian 14% Hispanic / Latino 12% Two or more races 8% Black 4%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Lithuanian 4% Slovak 3% Italian 3%
• Foreign-born: 21% · Canada, China, South Korea
• Languages at home: 70% English-only · Spanish 11% Other Indo-European 4% Chinese 4%

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: ▲ 6.92%
• Current HPI: 256.8342
• Rent YoY: ▲ 4.96%
• 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

-7.4% since first listed

9 events — show timeline

• 2026-01-21 Listed $175,000 HARMLS
• 2026-01-19 Listing Removed — HARMLS
• 2025-11-29 Listed $177,500 HARMLS
• 2025-11-19 Listing Removed — HARMLS
• 2025-08-25 Price Changed $180,000 HARMLS
• 2025-06-07 Price Changed $185,000 HARMLS
• 2025-03-18 Listed $189,000 HARMLS
• 2025-03-17 Coming Soon — HARMLS
• 1988-09-29 Sold (Public Records) — Public Records

Property tax history

+5.9%/yr

Latest (2025): $4,047 · -1.5% YoY. Source: county tax records.