8517 Hearth Dr #36 · Houston, TX 77054

$79,000

2 bd · 2.0 ba · 1,092 sqft · Condo · 61 Days on market

Built 1979 $584/mo HOA · 47% of rent

---

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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +6.1/30.0
• Livability +3.7/5.0
• Appreciation +2.7/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0
• DSCR +0.4/10.0

Listing remarks

Completely remodeled 2 bedroom with 2 full bathrooms. Utility room inside. New appliances. Very desirable location close to Medical Center, NRG Stadium. The posibilities on this unit are endless and can make a good investment.

Key facts

• Remodeled
• Utility room
• Desirable location

Tags

• REMODELED
• UTILITY ROOM
• NEW APPLIANCES
• DESIRABLE LOCATION
• CLOSE TO MEDICAL CENTER
• CLOSE TO NRG STADIUM

Property features AI

Finance

• HOA & community: Monthly association fee; Association amenities include guard and community pool; Association fee covers insurance, grounds and structure maintenance, sewer, trash, and water

Exterior

• Parking: Garage; Carport
• Security: Gated/guarded community
• Utilities: Public water
• Home design: Residential property; Single-story; Full ownership; Slab foundation
• Construction: Stone and stucco exterior; Composition roof; Built in 1979
• Exterior features: Storage

Interior

• Kitchen: Electric cooktop; Oven; Refrigerator
• Bedrooms: Primary bedroom (third level); Bedroom (third level)
• Flooring: Plank flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Elevator; Kitchen/family room combo; Tub with shower; Window treatments / coverings
• Laundry & utility: Laundry in utility room; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $79k.

Deal economics

• At list price, monthly cash flow is $-215 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $48k (39.4% below list).
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $48k (39.4% below list) — sets the bar for cash-flow.
• Cap rate 4.0% 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.

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.
• 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: Longfellow El (math 12% / reading 27%, grade F, #3,583 of 4,322 statewide, top 86%, 682 students, 75% FRL); Pershing Middle (math 36% / reading 49%, grade D-, #553 of 1,662 statewide, top 34%, 1,390 students, 60% FRL); Bellaire H S (math 45% / reading 62%, grade C-, #428 of 1,632 statewide, top 27%, 3,170 students, 48% FRL).
• Market conditions: Rents soft (-2.8%/yr); 272 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $546 of loan paydown is wiped out by about $2k 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 61 days — a 6% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y ago; this cycle's ask is 5583% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 47% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $47,907 (39.4% 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 61 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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?
12. 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.
13. 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.
14. 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: 1.57% ✓
• Cap rate: 4.04%
• Cash-on-cash: -8.05%
• DSCR: 0.64
• GRM: 5.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -47.0%
• Equity multiple: -0.34×
• Total profit: $-29,709
• Equity at exit: $11,779

10-year hold

• IRR: —
• Equity multiple: -1.53×
• Total profit: $-55,864
• Equity at exit: $6,830

Cash invested: $22,120 (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 77054

• Home prices YoY: -2.6%
• Rents YoY: -2.8%
• Active inventory: 272
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,242 high
• Mortgage (P&I): −$414
• Tax est. 1.5%: −$99 /mo · $1,185/yr
• Insurance: −$33
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$584
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $-215

Break-even live

Break-even rent $1,514

Max offer price $47,907

Occupancy floor —

Sensitivity live

Price	-10% $-160	-5% $-188	+0% $-215	+5% $-242	+10% $-269
Rent	-10% $-313	-5% $-264	+0% $-215	+5% $-166	+10% $-117
Rate	-1.0pp $-175	-0.5pp $-195	base $-215	+0.5pp $-235	+1.0pp $-256

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: $19,750
• Closing costs: $2,370
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8415 Hearth Dr Unit 1019639P Houston, TX	3.0	2.0	1496	$5,205	$3.48	0d	1	0.01mi
8415 Hearth Dr #25 Houston, TX	3.0	2.0	1500	$3,950	$2.63	45d	1	0.01mi
8521 Hearth Dr Houston, TX	2.0	2.0	1092	$1,195	$1.09	45d	1	0.03mi
2801 S Bartell Dr Houston, TX	2.0	2.0	1289	$1,808	$1.40	13d	1	0.08mi
8435 Hearth Dr Houston, TX	2.0	2.0	1040	$950	$0.91	45d	1	0.08mi
2501 Westridge St Unit 424 Houston, TX	2.0	2.0	1005	$1,239	$1.23	7d	1	0.11mi
2501 Westridge St Unit 2558 Houston, TX	2.0	2.0	1005	$1,223	$1.22	0d	1	0.11mi
2501 Westridge St Unit 422 Houston, TX	2.0	2.0	1005	$1,239	$1.23	9d	1	0.11mi
2820 S Bartell Dr Houston, TX	1.0	1.0	780	$850	$1.09	45d	3	0.14mi
2400 South Loop W Houston, TX	1.0–2.0	1.0–2.0	723	$1,250	$1.73	1d	26	0.14mi
2501 Westridge St Unit 2047 Houston, TX	2.0	2.0	1005	$1,274	$1.27	12d	1	0.15mi
8800 Lakes at 610 Dr Houston, TX	2.0	2.0	951	$1,280	$1.35	26d	1	0.18mi
2401 Westridge St Unit 1-1009 Houston, TX	2.0	2.0	841	$998	$1.19	26d	1	0.18mi
2401 Westridge St Unit 2112 Houston, TX	2.0	2.0	812	$1,019	$1.25	9d	1	0.18mi
2401 Westridge St Unit 422 Houston, TX	2.0	2.0	812	$989	$1.22	9d	1	0.18mi
2401 Westridge St Unit 2-2314 Houston, TX	2.0	1.0	812	$999	$1.23	45d	1	0.18mi
2401 Westridge St Unit 1-1013 Houston, TX	2.0	2.0	844	$1,250	$1.48	45d	1	0.18mi
2401 Westridge St Unit 2-2610 Houston, TX	2.0	1.0	812	$824	$1.01	26d	1	0.18mi
2401 Westridge St Unit 425 Houston, TX	2.0	2.0	812	$1,013	$1.25	12d	1	0.18mi
2401 Westridge St Unit 1-1009 Houston, TX	2.0	2.0	844	$1,000	$1.18	45d	1	0.18mi
2401 Westridge St Unit 2-2008 Houston, TX	2.0	2.0	844	$950	$1.13	46d	1	0.18mi
2407 Westridge St Houston, TX	2.0	2.0	975	$1,199	$1.23	45d	1	0.20mi
2401 Westridge St Houston, TX	1.0–2.0	1.0–2.0	723	$1,250	$1.73	9d	30	0.20mi
2818 S Bartell Dr Houston, TX	1.0	1.0	780	$795	$1.02	45d	1	0.20mi
2600 Westridge St Houston, TX	1.0–2.0	1.0–2.0	790	$1,349	$1.71	0d	74	0.20mi
8410 W Bartell Dr Unit 2047 Houston, TX	2.0	2.0	892	$1,069	$1.20	12d	1	0.22mi
8410 W Bartell Dr Unit 2047 Houston, TX	2.0	2.0	892	$1,059	$1.19	0d	1	0.22mi
8416 W Bartell Dr Houston, TX	2.0	2.0	892	$1,195	$1.34	26d	1	0.24mi
8410 W Bartell Dr Unit 421 Houston, TX	2.0	2.0	892	$1,034	$1.16	7d	1	0.28mi
8410 W Bartell Dr Unit 422 Houston, TX	2.0	2.0	892	$1,034	$1.16	9d	1	0.28mi
8410 W Bartell Dr Unit 2187 Houston, TX	2.0	2.0	892	$1,018	$1.14	0d	1	0.28mi
8900 Lakes at 610 Dr Houston, TX	1.0–2.0	1.0–2.0	981	$1,810	$1.84	45d	35	0.31mi
8900 Lakes at 610 Dr Houston, TX	1.0–2.0	1.0–2.0	981	$1,920	$1.96	1d	20	0.31mi
8877 Lakes At 610 Dr Houston, TX	1.0–2.0	1.0–2.0	964	$1,808	$1.87	13d	2	0.31mi
8877 Lakes At 610 Dr Houston, TX	1.0–2.0	1.0–2.0	1005	$1,808	$1.80	9d	3	0.31mi
8877 Lakes At 610 Dr Houston, TX	1.0–2.0	1.0–2.0	964	$1,808	$1.87	0d	3	0.31mi
8877 Lakes at 610 Dr Unit RAMC3 Houston, TX	2.0	2.0	1289	$1,808	$1.40	45d	1	0.32mi
8877 Lakes at 610 Dr Unit RAMC1 Houston, TX	1.0	1.0	854	$1,325	$1.55	45d	1	0.32mi
8877 Lakes at 610 Dr Unit RAMC2 Houston, TX	2.0	2.0	1122	$1,595	$1.42	45d	1	0.32mi
8877 Lakes at 610 Dr Unit RAMC4 Houston, TX	2.0	1.0	1035	$1,497	$1.45	45d	1	0.32mi

HOA detail condo

• Monthly dues: $584 · $7,008/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $79,000 Active 61 DOM
2. 2026-06-18
   days on market $79,000 Active 58 DOM
3. 2026-06-17
   days on market $79,000 Active 57 DOM
4. 2026-06-16
   days on market $79,000 Active 56 DOM
5. 2026-06-15
   days on market $79,000 Active 55 DOM
6. 2026-06-13
   days on market $79,000 Active 53 DOM
7. 2026-06-10
   days on market $79,000 Active 49 DOM
8. 2026-06-08
   days on market $79,000 Active 48 DOM
9. 2026-06-07
   days on market $79,000 Active 47 DOM
10. 2026-06-04
    days on market $79,000 Active 44 DOM
11. 2026-06-01
    days on market $79,000 Active 41 DOM
12. 2026-05-31
    days on market $79,000 Active 40 DOM
13. 2026-04-23
    listed $1,390
14. 2026-04-21
    listed $79,000 Active 229-char remark
15. 2026-03-31
    historical
16. 2025-11-21
    listed $88,000 Active
17. 2006-10-12
    historical
18. 2006-04-12
    listed $53,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 25 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: $14,909
• − Mortgage interest: −$4,425
• − Property taxes: −$1,185
• − Insurance: −$1,192
• − Repairs & maintenance: −$1,193
• − Management: −$1,193
• − HOA: −$7,008
• − Depreciation: −$2,298
• Taxable loss: −$3,585
• Est. tax savings @ 24.0%: +$860
• After-tax cash flow: $-1,718/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): 28,272
• Household income: $62,106
• Rent vs Own: 88.2% rent · 11.8% own
• Severe rent burden: 2814.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: Black 41% Asian 22% White 20% Hispanic / Latino 14% Two or more races 10%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Slovak 2% Romanian 1% Italian 1%
• Foreign-born: 29% · China, Canada, Jamaica
• Languages at home: 67% English-only · Spanish 9% Chinese 7% Other Indo-European 5%

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: ▼ -4.51%
• Current HPI: 170.4017
• Rent YoY: ▼ -2.82%
• 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

-97.4% since first listed

6 events — show timeline

• 2026-04-23 Listed for Rent $1,390 HARMLS
• 2026-04-21 Listed $79,000 HARMLS
• 2026-03-31 Listing Removed — HARMLS
• 2025-11-21 Listed $88,000 HARMLS
• 2006-10-12 Listing Removed — HARMLS
• 2006-04-12 Listed $53,000 HARMLS