11002 Hammerly Blvd #105 · Houston, TX 77043

$148,000

2 bd · 1.5 ba · 1,294 sqft · Condo public records · 79 Days on market

Built 1975 $114/sqft · 5% below area Est $156k · 5% under $398/mo HOA · 23% of rent

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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 +9.9/15.0
• Cash flow +8.6/30.0
• 1% rule +6.7/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• DSCR +2.4/10.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom, 1.bath , carport.

Key facts

• $398 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $148k.

Deal economics

• At list price, monthly cash flow is $-127 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $126k (15.1% below list).
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $126k (15.1% below list) — sets the bar for cash-flow.
• Cap rate 5.3% 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.
• 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: Terrace El (math 37% / reading 37%, grade F, #1,769 of 4,322 statewide, top 44%, 383 students, 78% FRL); Spring Oaks Middle (math 22% / reading 30%, grade F, #1,222 of 1,662 statewide, top 74%, 644 students, 91% FRL); Spring Woods H S (math 53% / reading 36%, grade F, #652 of 1,632 statewide, top 43%, 2,113 students, 82% FRL) — zoned schools average 84% FRL vs 54% district-wide (30 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.9%/yr); 202 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $1k of loan paydown is wiped out by about $4k 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 79 days — a 6% lower offer ($139k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask is 8357% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $21k; list at $148k implies a 605% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 23% of rent.
• Climate carrying-cost: major flood risk; 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 $125,612 (15.1% 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 79 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. Built in 1975 — 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: 1.17% ✓
• Cap rate: 5.27%
• Cash-on-cash: -3.67%
• DSCR: 0.84
• GRM: 7.1

CMA / ARV

• ARV (median comp): $156,312
• List price: $148,000
• Delta: -5.32%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -27.4%
• Equity multiple: 0.11×
• Total profit: $-36,799
• Equity at exit: $22,067

10-year hold

• IRR: -55.3%
• Equity multiple: -0.47×
• Total profit: $-60,714
• Equity at exit: $12,796

Cash invested: $41,440 (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 77043

• Rents YoY: -0.9%
• Active inventory: 202
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,726 high
• Mortgage (P&I): −$776
• Tax from tax record: −$255 /mo · $3,055/yr
• Insurance: −$62
• HOA: −$398
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $-127

Break-even live

Break-even rent $1,887

Max offer price $125,612

Occupancy floor —

Sensitivity live

Price	-10% $-43	-5% $-85	+0% $-127	+5% $-169	+10% $-211
Rent	-10% $-263	-5% $-195	+0% $-127	+5% $-59	+10% $10
Rate	-1.0pp $-52	-0.5pp $-89	base $-127	+0.5pp $-165	+1.0pp $-204

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: $37,000
• Closing costs: $4,440
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11002 Hammerly Blvd Houston, TX	2.0–4.0	2.5	1686	$1,550	$0.92	1d	2	0.06mi
10829 Hammerly Blvd Houston, TX	2.0	2.0	1226	$2,064	$1.68	26d	1	0.08mi
10850 Hammerly Blvd Houston, TX	1.0–2.0	1.0–2.0	882	$2,355	$2.67	0d	21	0.13mi
1888 Brittmoore Rd Houston, TX	1.0–2.0	1.0–2.0	904	$2,025	$2.24	0d	11	0.17mi
1599 Brittmoore Rd Houston, TX	2.0	2.0	1134	$1,983	$1.75	13d	1	0.82mi
1839 Sherwood Forest St Houston, TX	3.0	2.5	1752	$1,700	$0.97	45d	1	0.91mi
10580 Hammerly Blvd Houston, TX	1.0–4.0	1.0–2.5	987	$1,113	$1.13	0d	30	0.92mi
1707 Upland Dr Houston, TX	3.0	2.0	1350	$1,465	$1.09	45d	1	1.21mi
1707 Upland Dr Houston, TX	3.0	2.0	1350	$1,465	$1.09	20d	1	1.21mi
1707 Upland Dr Houston, TX	2.0	2.0	1190	$1,309	$1.10	26d	1	1.21mi
11918 Clay Rd Houston, TX	1.0–2.0	1.0–2.0	954	$2,014	$2.11	0d	37	1.27mi
2226 Triway Ln #100 Houston, TX	3.0	2.5	1584	$1,900	$1.20	45d	1	1.28mi
11810 Clay Rd Unit 1738 Houston, TX	2.0	2.0	1199	$1,400	$1.17	45d	1	1.30mi
11810 Clay Rd Unit 90222 Houston, TX	2.0	2.0	1402	$1,700	$1.21	45d	1	1.30mi
11810 Clay Rd Unit 60228 Houston, TX	2.0	2.0	1244	$1,575	$1.27	45d	1	1.30mi
1701 Upland Dr Houston, TX	2.0–4.0	1.5–3.0	1340	$1,565	$1.17	45d	8	1.35mi
10386 Hammerly Blvd Houston, TX	3.0	3.0	1716	$1,950	$1.14	45d	1	1.40mi
1521 Sherwood Forest St Apt 1203 Houston, TX	2.0	1.5	1188	$1,299	$1.09	5d	1	1.40mi
1521 Sherwood Forest St Apt 405 Houston, TX	2.0	2.5	1032	$1,309	$1.27	5d	1	1.40mi
1521 Sherwood Forest St Apt 303 Houston, TX	2.0	2.5	1120	$1,379	$1.23	21d	1	1.40mi
1521 Sherwood Forest St Unit 702 Houston, TX	2.0	2.5	1108	$1,359	$1.23	21d	1	1.40mi
1521 Sherwood Forest St Houston, TX	3.0	1.0–2.5	878	$1,266	$1.44	26d	16	1.40mi
10806 Clay Rd Unit 12201 Houston, TX	2.0	2.0	1116	$1,505	$1.35	26d	1	1.48mi

HOA detail condo

• Monthly dues: $398 · $4,776/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-21
   days on market $148,000 Active 79 DOM
2. 2026-06-18
   days on market $148,000 Active 76 DOM
3. 2026-06-17
   days on market $148,000 Active 75 DOM
4. 2026-06-16
   days on market $148,000 Active 74 DOM
5. 2026-06-15
   days on market $148,000 Active 73 DOM
6. 2026-06-13
   days on market $148,000 Active 71 DOM
7. 2026-06-09
   days on market $148,000 Active 67 DOM
8. 2026-06-08
   days on market $148,000 Active 66 DOM
9. 2026-06-07
   days on market $148,000 Active 65 DOM
10. 2026-06-04
    days on market $148,000 Active 62 DOM
11. 2026-06-03
    days on market $148,000 Active 61 DOM
12. 2026-06-02
    days on market $148,000 Active 60 DOM
13. 2026-06-01
    days on market $148,000 Active 59 DOM
14. 2026-05-31
    days on market $148,000 Active 58 DOM
15. 2026-05-09
    price $1,600
16. 2026-04-23
    listed $1,750
17. 2026-04-03
    listed $155,000 Active 28-char remark

    Show marketing remark (28 chars)

    2 bedroom, 1.bath , carport.

18. 2016-03-29
    soldstatus
19. 2016-02-29
    status Pending 374-char remark

    Show marketing remark (374 chars)

    Great condo and a great price!!! One-of-a-kind floor plan in this complex. Current owner added French doors from the dining room to the back patio and reconfigured the previous back entry into an office/reading/craft nook. Quite ingenious. Many upgrades. Brand new laminate flooring. Recent granite and tile upgrades. Must see. Live in or rent out. Lots of opportunity here.

20. 2016-02-28
    soldstatus Sold 374-char remark

    Show marketing remark (374 chars)

    Great condo and a great price!!! One-of-a-kind floor plan in this complex. Current owner added French doors from the dining room to the back patio and reconfigured the previous back entry into an office/reading/craft nook. Quite ingenious. Many upgrades. Brand new laminate flooring. Recent granite and tile upgrades. Must see. Live in or rent out. Lots of opportunity here.

21. 2016-02-21
    status Option Pending 374-char remark

    Show marketing remark (374 chars)

    Great condo and a great price!!! One-of-a-kind floor plan in this complex. Current owner added French doors from the dining room to the back patio and reconfigured the previous back entry into an office/reading/craft nook. Quite ingenious. Many upgrades. Brand new laminate flooring. Recent granite and tile upgrades. Must see. Live in or rent out. Lots of opportunity here.

22. 2016-01-26
    listed $89,500 Active 374-char remark

    Show marketing remark (374 chars)

    Great condo and a great price!!! One-of-a-kind floor plan in this complex. Current owner added French doors from the dining room to the back patio and reconfigured the previous back entry into an office/reading/craft nook. Quite ingenious. Many upgrades. Brand new laminate flooring. Recent granite and tile upgrades. Must see. Live in or rent out. Lots of opportunity here.

23. 2001-10-31
    soldstatus
24. 1995-11-30
    soldstatus $21,000

ⓘ 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: $3,055 · $255/mo
• Projected year-2 tax: $3,055 · $255/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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 23 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: $20,713
• − Mortgage interest: −$8,290
• − Property taxes: −$3,055
• − Insurance: −$740
• − Repairs & maintenance: −$1,657
• − Management: −$1,657
• − HOA: −$4,776
• − Depreciation: −$4,305
• Taxable loss: −$3,767
• Est. tax savings @ 24.0%: +$904
• After-tax cash flow: $-617/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): 29,048
• Household income: $79,359
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1667.0

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: Hispanic / Latino 44% White 37% Two or more races 25% Black 8% Asian 6%
• Hispanic origin (detail): Mexican 24% Puerto Rican 3%
• Common ancestry: Lithuanian 3% Slovak 2% Romanian 2%
• Foreign-born: 31% · Canada, China, Vietnam
• Languages at home: 52% English-only · Spanish 36% French/Haitian/Cajun 2% Vietnamese 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: ▼ -283.51%
• Current HPI: 286.4053
• Rent YoY: ▼ -0.86%
• 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

-92.4% since first listed

10 events — show timeline

• 2026-05-09 Price Changed $1,600 HARMLS
• 2026-04-23 Listed for Rent $1,750 HARMLS
• 2026-04-03 Listed $155,000 HARMLS
• 2016-03-29 Sold (Public Records) — Public Records
• 2016-02-29 Pending — HARMLS
• 2016-02-28 Sold (MLS) — HARMLS
• 2016-02-21 Pending — HARMLS
• 2016-01-26 Listed $89,500 HARMLS
• 2001-10-31 Sold (Public Records) — Public Records
• 1995-11-30 Sold (Public Records) $21,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $3,055 · -0.5% YoY. Source: county tax records.