3131 Southwest Fwy Unit C33 · Houston, TX 77098

$110,000

1 bd · 1.0 ba · 726 sqft · Condo public records · 133 Days on market

Built 1965 $152/sqft · 13% below area Est $126k · 13% under $500/mo HOA · 35% 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 +13.3/15.0
• 1% rule +8.1/10.0
• Cash flow +7.1/30.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Incredible find in the middle of everything. Nothing like it in the inner loop. This upstairs end unit is move in ready .Engineered hardwoods through out. Kitchen has been completely remolded with customs cabinets, granite counter tops, and SS appliances. Plenty of work space and storage. Walk in closet in primary bedroom complete with a full size washer dryer. One covered parking space with plenty of guest parking. Courtyard location overlooking a sparkling pool.

Key facts

• Custom cabinets
• Upstairs end unit
• Ss appliances

Tags

• UPSTAIRS END UNIT
• COMPLETELY REMOLDED KITCHEN
• CUSTOM CABINETS
• GRANITE COUNTER TOPS
• SS APPLIANCES
• WALK IN CLOSET

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $-157 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $82k (25.2% below list).
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $82k (25.2% below list) — sets the bar for cash-flow.
• Cap rate 4.6% 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: schools D, crime F.
• Houston ISD (urban): math 27% / reading 35% proficiency, ranked #593 of 826 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.1%/yr); 139 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 8d 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).
• This rent is only 15% of the median local income ($117k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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 133 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $82,283 (25.2% 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 133 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Built in 1965 — 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: 1.31% ✓
• Cap rate: 4.58%
• Cash-on-cash: -6.11%
• DSCR: 0.73
• GRM: 6.4

CMA / ARV

• ARV (median comp): $126,188
• List price: $110,000
• Delta: -12.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -32.9%
• Equity multiple: -0.03×
• Total profit: $-31,678
• Equity at exit: $16,401

10-year hold

• IRR: -85.6%
• Equity multiple: -0.80×
• Total profit: $-55,303
• Equity at exit: $9,511

Cash invested: $30,800 (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 77098

• Rents YoY: -1.1%
• Active inventory: 139
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,436 high
• Mortgage (P&I): −$577
• Tax from tax record: −$169 /mo · $2,025/yr
• Insurance: −$46
• HOA: −$500
• Vacancy / Maint / Mgmt: −$302
• Net cashflow: $-157

Break-even live

Break-even rent $1,635

Max offer price $82,283

Occupancy floor —

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2939 Westpark Dr Houston, TX	2.0	1.0–2.0	622	$1,199	$1.93	2d	41	0.15mi
3000 Bissonnet St Unit 3015 Houston, TX	1.0	1.0	716	$1,453	$2.03	14d	1	0.20mi
3815 Eastside St Houston, TX	2.0	1.0–2.5	1253	$3,066	$2.45	3d	20	0.23mi
3800 Audley St Houston, TX	1.0–2.0	1.0–2.0	923	$1,339	$1.45	1d	21	0.24mi
2828 Southwest Fwy Houston, TX	—	1.0	348	$1,174	$3.37	2d	30	0.25mi
2828 Southwest Fwy Unit 101 Houston, TX	—	1.0	367	$995	$2.71	24d	1	0.25mi
2630 Bissonnet St Houston, TX	2.0	1.0–2.0	866	$1,905	$2.20	1d	21	0.38mi
5151 Edloe St Houston, TX	1.0–3.0	1.0–2.0	1102	$1,386	$1.26	1d	33	0.41mi
3271 Sul Ross St Houston, TX	1.0–2.0	1.0–2.0	815	$1,350	$1.66	3d	2	0.55mi
3562 Kirby Dr Houston, TX	1.0	1.0	636	$1,229	$1.93	11d	1	0.56mi
3660 Richmond Ave Houston, TX	1.0–2.0	1.0–2.0	1084	$1,248	$1.15	2d	19	0.58mi
2440 North Blvd Houston, TX	1.0	1.0	719	$1,349	$1.87	1d	7	0.60mi
3400 Edloe St Houston, TX	1.0	1.0	650	$1,098	$1.69	1d	7	0.67mi
3833 Cummins St Houston, TX	2.0	1.0–2.0	1161	$1,889	$1.63	3d	23	0.68mi
2300 Richmond Ave Houston, TX	1.0–2.0	1.0–2.0	952	$1,717	$1.80	1d	27	0.75mi
2322 Richton St Unit 15 Houston, TX	1.0	1.0	600	$975	$1.62	7d	1	0.75mi
2328 Richton St Houston, TX	1.0	1.0	750	$1,149	$1.53	43d	1	0.75mi
4100 Greenbriar Dr Unit 147 Houston, TX	1.0	1.0	569	$1,269	$2.23	2d	1	0.76mi
4100 Greenbriar Dr Unit 4121 Houston, TX	1.0	1.0	619	$1,265	$2.04	13d	1	0.76mi
4100 Greenbriar Dr Unit 4142 Houston, TX	1.0	1.0	569	$1,269	$2.23	10d	1	0.76mi
4100 Greenbriar Dr Unit 4115 Houston, TX	1.0	1.0	704	$1,479	$2.10	10d	1	0.76mi
4100 Greenbriar Dr Apt 323 Houston, TX	1.0	1.0	704	$1,440	$2.05	7d	1	0.76mi
4100 Greenbriar Dr Unit 112 Houston, TX	1.0	1.0	569	$1,237	$2.17	2d	1	0.76mi
4100 Greenbriar Dr Houston, TX	1.0	1.0	619	$1,260	$2.04	13d	1	0.76mi
4100 Greenbriar Dr Unit 1162 Houston, TX	1.0	1.0	704	$1,440	$2.05	5d	1	0.78mi
4100 Greenbriar Dr Unit 1187 Houston, TX	1.0	1.0	704	$1,437	$2.04	2d	1	0.78mi
3411 Cummins St Houston, TX	1.0–2.0	1.0–2.0	1560	$1,219	$0.78	2d	14	0.78mi
3131 Timmons Ln Houston, TX	1.0	1.0	651	$1,481	$2.27	24d	1	0.79mi
3510 W Alabama St Houston, TX	1.0	1.0	744	$1,462	$1.97	10d	1	0.80mi
3131 Timmons Ln Unit 148 Houston, TX	1.0	1.0	569	$1,304	$2.29	2d	1	0.80mi
3131 Timmons Ln Unit 324 Houston, TX	1.0	1.0	650	$1,511	$2.32	7d	1	0.80mi
3131 Timmons Ln Unit 3173 Houston, TX	1.0	1.0	569	$1,347	$2.37	11d	1	0.80mi
3131 Timmons Ln Unit 1174 Houston, TX	1.0	1.0	650	$1,500	$2.31	12d	1	0.80mi
3131 Timmons Ln Unit 3146 Houston, TX	1.0	1.0	650	$1,550	$2.38	10d	1	0.80mi
3131 Timmons Ln Unit 3146 Houston, TX	1.0	1.0	650	$1,593	$2.45	13d	1	0.80mi
3131 Timmons Ln Unit 174 Houston, TX	1.0	1.0	569	$1,336	$2.35	10d	1	0.80mi
3131 Timmons Ln Unit 1148 Houston, TX	1.0	1.0	650	$1,508	$2.32	2d	1	0.80mi
2936 Kirby Dr Houston, TX	1.0	1.0	688	$2,126	$3.09	43d	1	0.83mi
3810 Law St Houston, TX	1.0–2.0	1.0–2.0	1002	$1,663	$1.66	2d	10	0.84mi
3333 Cummins St Houston, TX	1.0	1.0	537	$1,013	$1.89	12d	1	0.85mi

HOA detail condo

• Monthly dues: $500 · $6,000/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-10
   days on market $110,000 Pending 133 DOM
2. 2026-06-08
   days on market $110,000 Pending 132 DOM
3. 2026-06-07
   days on market $110,000 Pending 131 DOM
4. 2026-06-04
   statusdays on market $110,000 Pending 128 DOM
5. 2026-06-01
   days on market $110,000 Active 125 DOM
6. 2026-05-31
   days on market $110,000 Active 124 DOM
7. 2026-01-27
   listed $110,000 Active 480-char remark

   Show marketing remark (480 chars)

   Incredible find in the middle of everything. Nothing like it in the inner loop. This upstairs end unit is move in ready .Engineered hardwoods through out. Kitchen has been completely remolded with customs cabinets, granite counter tops, and SS appliances. Plenty of work space and storage. Walk in closet in primary bedroom complete with a full size washer dryer. One covered parking space with plenty of guest parking. Courtyard location overlooking a sparkling pool.

8. 2014-02-24
   soldstatus
9. 1997-07-08
   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: $2,025 · $169/mo
• Projected year-2 tax: $2,025 · $169/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) · 71% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 24 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: $17,234
• − Mortgage interest: −$6,162
• − Property taxes: −$2,025
• − Insurance: −$550
• − Repairs & maintenance: −$1,379
• − Management: −$1,379
• − HOA: −$6,000
• − Depreciation: −$3,200
• Taxable loss: −$3,461
• Est. tax savings @ 24.0%: +$831
• After-tax cash flow: $-1,052/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: Houston ISD
• NCES district ID: 4823640
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $46,054
• Composite: 26.63/100
• National rank: #7173
• State rank: #593 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): 17,210
• Household income: $116,650
• Rent vs Own: 65.9% rent · 34.1% own
• Severe rent burden: 1069.0

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 0.57)
• Race & ethnicity: White 63% Hispanic / Latino 15% Asian 12% Two or more races 12% Black 6% Native American 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 7% Romanian 5% Iranian 3%
• Foreign-born: 21% · Canada, China, South Korea
• Languages at home: 74% English-only · Spanish 9% Chinese 4% Other Asian/Pacific 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: ▼ -132.17%
• Current HPI: 219.3437
• Rent YoY: ▼ -1.13%
• 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

3 events — show timeline

• 2026-01-27 Listed $110,000 HARMLS
• 2014-02-24 Sold (Public Records) — Public Records
• 1997-07-08 Sold (Public Records) — Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,025 · +1.6% YoY. Source: county tax records.