7950 N Stadium Dr #215

Houston, TX 77030

$99,900D-

1 bd · 1.0 ba · 972 sqft · Built 1980 · Condo · Active · 110 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,394/mo
• Mortgage (P&I): −$524
• Tax + insurance: −$327
• HOA: −$618
• Vac / Maint / Mgmt: −$293
• Net cashflow: $-368/mo
• Annual: $-4,411/yr
• Cap rate: 1.88%
• Cash-on-cash: -15.77%
• DSCR: 0.30
• 1% rule: 1.40%
• Cash to close: $27,972

Investor read

• This is a 1-bed/1.0-bath condo listed at $100k.
• At list price, monthly cash flow is $-368 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $68k (31.4% below list).
• Meets the 1% rule at list price ($1k rent vs $100k).
• It's been on market 110 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $68k (31.4% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• 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.
• 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.
• Zoned schools: Roberts El (math 78% / reading 78%, grade A, #51 of 4,322 statewide, top 1%, 724 students, 16% FRL); Cullen Middle (math 6% / reading 14%, grade F, #1,641 of 1,662 statewide, top 99%, 324 students, 100% FRL); Bellaire H S (math 45% / reading 62%, grade C-, #428 of 1,632 statewide, top 27%, 3,170 students, 48% FRL) — zoned schools average 55% FRL vs 71% district-wide (17 pts lower); this property's tenant base skews higher-income than the district average.
• Zoned-school proficiency averages 47% at this address vs 31% district-wide (+16 pts) — the actual schools serving this property are materially stronger than the Houston ISD average implies; a family-tenant draw the district grade alone would hide.
• Watch-outs: property tax is 3.4% of price; HOA is 44% of rent.
• Market conditions: Rents soft (-1.6%/yr); 146 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); solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 7 sale attempts since 17y ago; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $51k; list at $100k implies a 96% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: 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.
• Cap rate 1.9% 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.

Questions for listing agent

• 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?
• It's been on market 110 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• 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?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?