9807 Bamboo Unit A

Houston, TX 77041

$349,900F

4 bd · 2.0 ba · — sqft · Built — · Condo · Active · 16 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,382/mo
• Mortgage (P&I): −$1,995
• Tax + insurance: −$634
• HOA: −$0
• Vac / Maint / Mgmt: −$500
• Net cashflow: $-748/mo
• Annual: $-8,976/yr
• Cap rate: 3.93%
• Cash-on-cash: -8.43%
• DSCR: 0.63
• 1% rule: 0.63%
• Cash to close: $106,541

Investor read

• This is a 4-bed/2.0-bath condo listed at $350k. Condition is rated good.
• At list price, monthly cash flow is $-748 ($-9k/yr) — negative.
• To cash-flow at today's rent, offer at most $272k (22.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (31.9% below list).
• It's been on market 16 days — a 2% lower offer ($345k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $238k (31.9% below list) — sets the bar for 1% rule.
• Local home prices are declining (-1.5%/yr); year-one equity from $3k of loan paydown is wiped out by about $6k 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.
• Cypress-Fairbanks ISD (suburban): math 45% / reading 52% proficiency, ranked #161 of 826 in TX (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Kirk El (math 25% / reading 32%, grade F, #2,706 of 4,322 statewide, top 63%, 852 students, 79% FRL); Truitt Middle (math 34% / reading 41%, grade F, #736 of 1,662 statewide, top 45%, 1,419 students, 76% FRL); Cypress-Fairbanks J J A E P (12 students, 0% FRL).
• Zoned-school proficiency averages 33% at this address vs 48% district-wide (-16 pts) — the specific schools serving this property underperform the Cypress-Fairbanks ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 177 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); 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.
• 2 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.
• Climate carrying-cost: 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.
• Cap rate 3.9% vs local median 3.2% in Houston — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.
• This rent runs 37% of the median local income ($77k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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?
• 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?
• 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?
• 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?
• 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?
• 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.
• 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.