10110 Forum West Dr #422 · Houston, TX 77036

$62,000

2 bd · 2.0 ba · 1,054 sqft · Condo public records · 291 Days on market

Built 1981 $59/sqft · at area comps Est $65k · at est. $448/mo HOA · 39% 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).

• Cash flow +12.4/30.0
• 1% rule +10.0/10.0
• ARV discount +9.6/15.0
• Appreciation +4.6/10.0
• DSCR +3.7/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Rent growth +0.8/5.0

Listing remarks MLS

Sale as is. “ This spacious 2-bedroom, 2-baths condo features an open layout, tile flooring throughout, and plenty of natural light. The kitchen offers ample counter space and cabinetry, while the living area opens to a private balcony with outdoor views. The bedrooms are generously sized, and the bathroom has a classic tub/shower combo. With some TLC, this unit can be transformed into the perfect starter home, rental investment, or affordable retreat. Conveniently located near shopping, dining, and commuter routes, this property is ready for your vision! Bright pool-view condo at Winfield II featuring a private screened balcony, in-unit laundry, tile floors throughout, and access to a gated community pool and parking — an excellent value with great potential.”

Key facts

• $448 HOA
• Community pool
• Built 1981

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $62k.

Deal economics

• At list price, monthly cash flow is $-77 ($-927/yr) — negative.
• To cash-flow at today's rent, offer at most $48k (22.0% below list).
• Meets the 1% rule at list price ($1k rent vs $62k).
• Recommended offer: $48k (22.0% below list) — sets the bar for cash-flow.
• 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.
• Alief ISD (urban): math 23% / reading 28% proficiency, ranked #717 of 826 in TX (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Best El (math 11% / reading 12%, grade F, #4,225 of 4,322 statewide, top 98%, 674 students, 92% FRL); Olle Middle (math 16% / reading 32%, grade F, #1,301 of 1,662 statewide, top 79%, 1,067 students, 90% FRL); Alief Isd J J A E P (13 students, 77% FRL).
• Market conditions: Rents falling (-6.6%/yr); 202 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 30% of the median local income ($46k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-0.7%/yr); year-one equity from $429 of loan paydown is wiped out by about $453 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 291 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y ago; this cycle's ask has dropped $6k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 39% of rent.
• Climate carrying-cost: severe 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 $48,359 (22.0% 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 291 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.87% ✓
• Cap rate: 6.08%
• Cash-on-cash: -0.74%
• DSCR: 0.97
• GRM: 4.5

CMA / ARV

• ARV (median comp): $65,068
• List price: $62,000
• Delta: -4.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-0.73% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -16.4%
• Equity multiple: 0.32×
• Total profit: $-11,867
• Equity at exit: $15,770

10-year hold

• IRR: -16.9%
• Equity multiple: -0.30×
• Total profit: $-22,490
• Equity at exit: $17,255

Cash invested: $17,360 (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 77036

• Home prices YoY: -0.3%
• Rents YoY: -6.6%
• Active inventory: 202
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,161 high
• Mortgage (P&I): −$325
• Tax from tax record: −$129 /mo · $1,546/yr
• Insurance: −$26
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$448
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $-77

Break-even live

Break-even rent $1,259

Max offer price $48,359

Occupancy floor —

Sensitivity live

Price	-10% $-42	-5% $-60	+0% $-77	+5% $-95	+10% $-112
Rent	-10% $-169	-5% $-123	+0% $-77	+5% $-31	+10% $14
Rate	-1.0pp $-46	-0.5pp $-61	base $-77	+0.5pp $-93	+1.0pp $-110

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10110 Forum Park Dr Houston, TX	1.0–2.0	1.0–2.0	976	$999	$1.02	45d	2	0.20mi
10107 Forum Park Dr Houston, TX	2.0	2.0	1100	$970	$0.88	26d	1	0.21mi
10286 Forum West Dr Houston, TX	2.0	2.0	1046	$1,200	$1.15	26d	1	0.26mi
10101 Forum Park Dr Houston, TX	1.0–2.0	1.0–2.0	825	$1,323	$1.60	0d	22	0.26mi
9898 Forum Park Dr Unit 6406 Houston, TX	1.0	1.0	750	$925	$1.23	45d	1	0.28mi
10009 Forum Park Dr Houston, TX	2.0	2.0	969	$979	$1.01	26d	1	0.32mi
10101 W Sam Houston Pkwy S Houston, TX	1.0–2.0	1.0–2.0	809	$1,145	$1.41	45d	1	0.33mi
10225 Bissonnet St Houston, TX	1.0–2.0	1.0–2.5	992	$1,480	$1.49	1d	45	0.38mi
9707 Forum Park Dr Houston, TX	2.0	2.0	1147	$992	$0.86	45d	1	0.43mi
9502 Woodfair Dr Houston, TX	1.0–2.0	1.0–2.0	711	$1,093	$1.54	5d	31	0.62mi
9502 Woodfair Dr Houston, TX	1.0–2.0	1.0	636	$950	$1.49	45d	31	0.62mi
10440 South Dr Houston, TX	1.0–2.0	1.0–2.0	773	$1,340	$1.73	3d	27	0.63mi
9430 Concourse Dr Houston, TX	1.0	1.0	719	$842	$1.17	14d	1	0.76mi
9445 Concourse Dr Houston, TX	1.0–2.0	1.0–2.0	715	$1,104	$1.54	1d	21	0.76mi
9350 Country Creek St Houston, TX	3.0	2.0	1272	$1,500	$1.18	45d	1	0.78mi
9475 W Sam Houston Pkwy S Houston, TX	1.0–2.0	1.0–2.0	725	$1,284	$1.77	7d	18	0.79mi
14 W Sam Houston Pkwy S Houston, TX	2.0	2.0	1000	$1,054	$1.05	26d	1	0.83mi
9303 Woodfair Dr Houston, TX	1.0–2.0	1.0–2.0	791	$1,045	$1.32	45d	42	0.87mi
10306 S Wilcrest Dr Houston, TX	3.0	2.0	1200	$1,349	$1.12	45d	1	0.88mi
10300 S Wilcrest Dr Unit 10333 Houston, TX	3.0	2.0	1200	$1,313	$1.09	1d	1	0.94mi
10411 South Dr Houston, TX	1.0–2.0	1.0–2.0	757	$1,495	$1.97	45d	1	0.95mi
9907 Club Creek Dr Houston, TX	2.0	1.0	1170	$1,120	$0.96	26d	1	0.97mi
9901 Club Creek Dr Houston, TX	1.0–3.0	1.0–2.0	855	$992	$1.16	3d	13	0.99mi
8606 S Course Dr Houston, TX	2.0	2.0	913	$1,050	$1.15	45d	1	1.08mi
9255 W Sam Houston Pkwy S Houston, TX	1.0	1.0	750	$1,049	$1.40	45d	1	1.12mi
8600 S Course Dr Houston, TX	1.0–2.0	1.0–2.0	706	$1,176	$1.66	1d	31	1.15mi
10925 Stancliff Rd Houston, TX	2.0	2.0	931	$1,425	$1.53	45d	1	1.19mi
10000 Club Creek Dr Houston, TX	2.0	1.0–2.0	670	$1,015	$1.51	12d	1	1.20mi
10919 Stancliff Rd Unit 422 Houston, TX	2.0	2.0	931	$1,519	$1.63	9d	1	1.20mi
10919 Stancliff Rd Unit 2162 Houston, TX	2.0	2.0	931	$1,519	$1.63	7d	1	1.20mi
10919 Stancliff Rd Unit 2174 Houston, TX	2.0	2.0	931	$1,543	$1.66	12d	1	1.20mi
10919 Stancliff Rd Unit 10952 Houston, TX	3.0	2.0	1346	$1,974	$1.47	45d	1	1.20mi
10919 Stancliff Rd Unit 10976 Houston, TX	2.0	2.0	931	$1,544	$1.66	45d	1	1.20mi
10919 Stancliff Rd Unit 3174 Houston, TX	3.0	2.0	1239	$1,934	$1.56	1d	1	1.20mi
10919 Stancliff Rd Unit 3148 Houston, TX	3.0	2.0	1239	$1,883	$1.52	1d	1	1.20mi
10919 Stancliff Rd Unit 2112 Houston, TX	2.0	2.0	931	$1,503	$1.61	1d	1	1.20mi
10919 Stancliff Rd Unit 3047 Houston, TX	3.0	2.0	1239	$1,934	$1.56	13d	1	1.21mi
10919 Stancliff Rd Houston, TX	2.0	2.0	931	$1,529	$1.64	45d	1	1.21mi
9001 S Braeswood Blvd Houston, TX	1.0–2.0	1.0–2.0	739	$971	$1.31	45d	26	1.22mi
9001 S Braeswood Blvd Houston, TX	1.0–2.0	1.0–2.0	739	$850	$1.15	1d	26	1.22mi

HOA detail condo

• Monthly dues: $448 · $5,376/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $62,000 Active 291 DOM
2. 2026-06-18
   days on market $62,000 Active 288 DOM
3. 2026-06-17
   days on market $62,000 Active 287 DOM
4. 2026-06-16
   days on market $62,000 Active 286 DOM
5. 2026-06-15
   days on market $62,000 Active 285 DOM
6. 2026-06-13
   days on market $62,000 Active 283 DOM
7. 2026-06-09
   days on market $62,000 Active 279 DOM
8. 2026-06-08
   days on market $62,000 Active 278 DOM
9. 2026-06-07
   days on market $62,000 Active 277 DOM
10. 2026-06-04
    days on market $62,000 Active 274 DOM
11. 2026-06-03
    days on market $62,000 Active 273 DOM
12. 2026-06-02
    days on market $62,000 Active 272 DOM
13. 2026-06-01
    days on market $62,000 Active 271 DOM
14. 2026-05-31
    days on market $62,000 Active 270 DOM
15. 2026-03-13
    price $62,000 790-char remark

    Show marketing remark (790 chars)

    Sale as is. “ This spacious 2-bedroom, 2-baths condo features an open layout, tile flooring throughout, and plenty of natural light. The kitchen offers ample counter space and cabinetry, while the living area opens to a private balcony with outdoor views. The bedrooms are generously sized, and the bathroom has a classic tub/shower combo. With some TLC, this unit can be transformed into the perfect starter home, rental investment, or affordable retreat. Conveniently located near shopping, dining, and commuter routes, this property is ready for your vision! Bright pool-view condo at Winfield II featuring a private screened balcony, in-unit laundry, tile floors throughout, and access to a gated community pool and parking — an excellent value with great potential.”

16. 2025-12-10
    price $65,000 790-char remark

    Show marketing remark (790 chars)

    Sale as is. “ This spacious 2-bedroom, 2-baths condo features an open layout, tile flooring throughout, and plenty of natural light. The kitchen offers ample counter space and cabinetry, while the living area opens to a private balcony with outdoor views. The bedrooms are generously sized, and the bathroom has a classic tub/shower combo. With some TLC, this unit can be transformed into the perfect starter home, rental investment, or affordable retreat. Conveniently located near shopping, dining, and commuter routes, this property is ready for your vision! Bright pool-view condo at Winfield II featuring a private screened balcony, in-unit laundry, tile floors throughout, and access to a gated community pool and parking — an excellent value with great potential.”

17. 2025-12-09
    price $67,000 790-char remark

    Show marketing remark (790 chars)

    Sale as is. “ This spacious 2-bedroom, 2-baths condo features an open layout, tile flooring throughout, and plenty of natural light. The kitchen offers ample counter space and cabinetry, while the living area opens to a private balcony with outdoor views. The bedrooms are generously sized, and the bathroom has a classic tub/shower combo. With some TLC, this unit can be transformed into the perfect starter home, rental investment, or affordable retreat. Conveniently located near shopping, dining, and commuter routes, this property is ready for your vision! Bright pool-view condo at Winfield II featuring a private screened balcony, in-unit laundry, tile floors throughout, and access to a gated community pool and parking — an excellent value with great potential.”

18. 2025-09-03
    listed $68,000 Active 790-char remark

    Show marketing remark (790 chars)

    Sale as is. “ This spacious 2-bedroom, 2-baths condo features an open layout, tile flooring throughout, and plenty of natural light. The kitchen offers ample counter space and cabinetry, while the living area opens to a private balcony with outdoor views. The bedrooms are generously sized, and the bathroom has a classic tub/shower combo. With some TLC, this unit can be transformed into the perfect starter home, rental investment, or affordable retreat. Conveniently located near shopping, dining, and commuter routes, this property is ready for your vision! Bright pool-view condo at Winfield II featuring a private screened balcony, in-unit laundry, tile floors throughout, and access to a gated community pool and parking — an excellent value with great potential.”

19. 2025-07-02
    historical
20. 2025-04-20
    price $70,000
21. 2025-03-13
    price $75,000
22. 2025-03-06
    price $70,000
23. 2024-09-06
    price $75,000
24. 2024-09-05
    listed $7,500 Active
25. 1995-02-17
    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: $1,546 · $129/mo
• Projected year-2 tax: $1,546 · $129/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 8/10 Severe FEMA zone X (shaded) · 99% 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 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: $13,929
• − Mortgage interest: −$3,473
• − Property taxes: −$1,546
• − Insurance: −$1,108
• − Repairs & maintenance: −$1,114
• − Management: −$1,114
• − HOA: −$5,376
• − Depreciation: −$1,804
• Taxable loss: −$1,605
• Est. tax savings @ 24.0%: +$385
• After-tax cash flow: $-541/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: Alief ISD
• NCES district ID: 4807830
• Math proficiency: 23% ▼ -19.00%
• Reading proficiency: 28% ▼ -8.00%
• Median HH income: $37,775
• Composite: 21.29/100
• National rank: #8391
• State rank: #717 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): 71,770
• Household income: $45,716
• Rent vs Own: 82.3% rent · 17.7% own
• Severe rent burden: 4374.0

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 28% Black 11% Asian 9% White 7%
• Hispanic origin (detail): Mexican 33% Cuban 3%
• Foreign-born: 55% · Canada, China, Vietnam
• Languages at home: 20% English-only · Spanish 66% Chinese 5% Vietnamese 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: ▼ -0.73%
• Current HPI: 221.1045
• Rent YoY: ▼ -6.62%
• 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

+726.7% since first listed

11 events — show timeline

• 2026-03-13 Price Changed $62,000 HARMLS
• 2025-12-10 Price Changed $65,000 HARMLS
• 2025-12-09 Price Changed $67,000 HARMLS
• 2025-09-03 Listed $68,000 HARMLS
• 2025-07-02 Listing Removed — HARMLS
• 2025-04-20 Price Changed $70,000 HARMLS
• 2025-03-13 Price Changed $75,000 HARMLS
• 2025-03-06 Price Changed $70,000 HARMLS
• 2024-09-06 Price Changed $75,000 HARMLS
• 2024-09-05 Listed $7,500 HARMLS
• 1995-02-17 Sold (Public Records) — Public Records

Property tax history

+7.2%/yr

Latest (2025): $1,546 · -3.4% YoY. Source: county tax records.