2120 El Paseo St #310 · Houston, TX 77054

$79,000

1 bd · 1.0 ba · 588 sqft · Condo public records · 88 Days on market

Built 1980 $134/sqft · 18% below area Est $96k · 18% under $359/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 +15.0/15.0
• 1% rule +8.0/10.0
• Cash flow +5.9/30.0
• 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 +0.3/10.0

Listing remarks MLS

Beautiful 1 bed/1 bath located near the Texas Med Center. Perfect condo for young professionals or investors interested in a fantastic rental opportunity. High ceilings and lots of natural light are found in the cozy living room that is open to the kitchen and dining area. Grab a cup of coffee and enjoy the quiet surroundings on the balcony. The large primary bedroom also has lots of natural light and a closet outfitted with extra storage solutions. This community boasts tennis courts, a beautiful pool, security gates and patrol, and a clubhouse. Steps away from TMC for under 100k!

Key facts

• Cozy living room
• Balcony
• Natural light

Tags

• NATURAL LIGHT
• COZY LIVING ROOM
• BALCONY
• TENNIS COURTS
• BEAUTIFUL POOL
• SECURITY GATES

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $79k.

Deal economics

• At list price, monthly cash flow is $-154 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $52k (34.4% below list).
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $52k (34.4% 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: Whidby El (math 17% / reading 22%, grade F, #3,583 of 4,322 statewide, top 86%, 394 students, 93% FRL); Cullen Middle (math 6% / reading 14%, grade F, #1,641 of 1,662 statewide, top 99%, 324 students, 100% FRL); Lamar H S (math 38% / reading 65%, grade D+, #478 of 1,632 statewide, top 29%, 3,125 students, 49% 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 10d 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 88 days — a 6% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 4y ago; this cycle's ask has dropped $9k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $51,791 (34.4% 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 88 days. Have you received any prior offers? Is the seller open to a 34% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.30% ✓
• Cap rate: 3.95%
• Cash-on-cash: -8.36%
• DSCR: 0.63
• GRM: 6.4

CMA / ARV

• ARV (median comp): $96,111
• List price: $79,000
• Delta: -17.80%
• 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: -37.6%
• Equity multiple: -0.15×
• Total profit: $-25,353
• Equity at exit: $11,779

10-year hold

• IRR: —
• Equity multiple: -1.05×
• Total profit: $-45,252
• 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: 6.4×

Monthly cashflow live

• Estimated rent: $1,029 high
• Mortgage (P&I): −$414
• Tax from tax record: −$161 /mo · $1,931/yr
• Insurance: −$33
• HOA: −$359
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $-154

Break-even live

Break-even rent $1,224

Max offer price $51,791

Occupancy floor —

Sensitivity live

Price	-10% $-109	-5% $-132	+0% $-154	+5% $-176	+10% $-199
Rent	-10% $-235	-5% $-195	+0% $-154	+5% $-113	+10% $-73
Rate	-1.0pp $-114	-0.5pp $-134	base $-154	+0.5pp $-174	+1.0pp $-195

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
7901 Cambridge St Houston, TX	1.0	1.0	529	$1,150	$2.17	45d	6	0.19mi
7901 Cambridge St Houston, TX	1.0	1.0	432	$1,100	$2.55	23d	5	0.19mi
8401 Almeda Rd Houston, TX	1.0	1.0	694	$1,265	$1.82	26d	1	0.20mi
8282 Cambridge St Unit 8333 Houston, TX	1.0	1.0	602	$764	$1.27	14d	1	0.30mi
8282 Cambridge St Unit 8303 Houston, TX	1.0	1.0	602	$815	$1.35	15d	1	0.30mi
8282 Cambridge St Unit 1162 Houston, TX	1.0	1.0	602	$775	$1.29	9d	1	0.30mi
8282 Cambridge St Unit 8356 Houston, TX	1.0	1.0	602	$764	$1.27	0d	1	0.30mi
2117 Holly Hall St Houston, TX	1.0	1.0	654	$1,000	$1.53	26d	1	0.30mi
8282 Cambridge St Houston, TX	1.0	1.0	602	$810	$1.35	15d	1	0.32mi
2256 Holly Hall St Houston, TX	1.0	1.0	706	$947	$1.34	23d	1	0.34mi
2256 Holly Hall St Houston, TX	1.0	1.0	706	$947	$1.34	19d	1	0.34mi
1800 El Paseo St Houston, TX	1.0–2.0	1.0–2.0	750	$802	$1.07	0d	37	0.35mi
2111 Holly Hall St Houston, TX	1.0–3.0	1.0–3.0	974	$699	$0.72	1d	30	0.41mi
2750 Holly Hall St Houston, TX	1.0–2.0	1.0–2.0	704	$850	$1.21	3d	12	0.47mi
8380 El Mundo St Houston, TX	1.0–2.0	1.0–2.0	712	$948	$1.33	0d	26	0.48mi
8383 El Mundo St Apt 321 Houston, TX	1.0	1.0	737	$1,148	$1.56	9d	1	0.52mi
8383 El Mundo St Unit 8457 Houston, TX	1.0	1.0	737	$1,187	$1.61	12d	1	0.52mi
8383 El Mundo St Unit 8404 Houston, TX	1.0	1.0	737	$1,297	$1.76	15d	1	0.52mi
8383 El Mundo St Unit 1148 Houston, TX	1.0	1.0	737	$1,137	$1.54	0d	1	0.52mi
8383 El Mundo St Unit 1174 Houston, TX	1.0	1.0	737	$1,178	$1.60	0d	1	0.52mi
7892 Knight Rd Houston, TX	3.0	1.0–3.0	920	$1,818	$1.98	1d	14	0.57mi
8383 El Mundo St Houston, TX	1.0	1.0	737	$1,292	$1.75	15d	1	0.58mi
7100 Almeda Rd Unit 1162 Houston, TX	1.0	1.0	575	$784	$1.36	9d	1	0.62mi
7100 Almeda Rd Unit 7121 Houston, TX	1.0	1.0	575	$773	$1.34	0d	1	0.62mi
7100 Almeda Rd Unit 7121 Houston, TX	1.0	1.0	575	$859	$1.49	16d	1	0.62mi
7100 Almeda Rd Houston, TX	1.0	1.0	575	$773	$1.34	14d	1	0.62mi
7100 Almeda Rd Unit 1047 Houston, TX	1.0	1.0	575	$814	$1.42	0d	1	0.63mi
8181 Fannin St Houston, TX	3.0	1.0–2.0	802	$1,327	$1.65	3d	33	0.64mi
7373 Ardmore St Houston, TX	1.0–3.0	1.0–2.0	1095	$1,165	$1.06	6d	24	0.70mi
9000 Almeda Rd Houston, TX	1.0–2.0	1.0–2.0	927	$1,350	$1.46	0d	10	0.71mi
7009 Almeda Rd Houston, TX	1.0–3.0	1.0–2.0	1043	$1,233	$1.18	1d	22	0.74mi
7110 Ardmore St Houston, TX	2.0	1.0–2.0	831	$1,678	$2.02	0d	17	0.83mi
2828 Old Spanish Trl Houston, TX	1.0	1.0	709	$1,103	$1.56	14d	1	0.83mi
2828 Old Spanish Trl Unit 1112 Houston, TX	1.0	1.0	709	$1,103	$1.56	0d	1	0.84mi
2828 Old Spanish Trl Unit 1174 Houston, TX	1.0	1.0	709	$1,144	$1.61	0d	1	0.84mi
2828 Old Spanish Trl Unit 2849 Houston, TX	1.0	1.0	709	$1,153	$1.63	12d	1	0.84mi
2828 Old Spanish Trl Unit 2849 Houston, TX	1.0	1.0	633	$1,149	$1.82	15d	1	0.84mi
2828 Old Spanish Trl Unit 2879 Houston, TX	1.0	1.0	633	$1,144	$1.81	45d	1	0.85mi
2828 Old Spanish Trl Apt 323 Houston, TX	1.0	1.0	709	$1,114	$1.57	9d	1	0.85mi
1711 Old Spanish Trl Houston, TX	1.0–2.0	1.0–2.0	1078	$1,500	$1.39	21d	10	0.86mi

HOA detail condo

• Monthly dues: $359 · $4,308/yr
• Likely covers: poolsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 45 events

1. 2026-06-21
   days on market $79,000 Active 88 DOM
2. 2026-06-18
   price $79,000 Active 85 DOM
3. 2026-06-18
   days on market $80,000 Active 85 DOM
4. 2026-06-17
   days on market $80,000 Active 84 DOM
5. 2026-06-16
   days on market $80,000 Active 83 DOM
6. 2026-06-15
   days on market $80,000 Active 82 DOM
7. 2026-06-13
   days on market $80,000 Active 80 DOM
8. 2026-06-10
   days on market $80,000 Active 76 DOM
9. 2026-06-08
   days on market $80,000 Active 75 DOM
10. 2026-06-07
    days on market $80,000 Active 74 DOM
11. 2026-06-04
    days on market $80,000 Active 71 DOM
12. 2026-06-01
    days on market $80,000 Active 68 DOM
13. 2026-05-31
    days on market $80,000 Active 67 DOM
14. 2026-05-07
    price $80,000 588-char remark

    Show marketing remark (588 chars)

    Beautiful 1 bed/1 bath located near the Texas Med Center. Perfect condo for young professionals or investors interested in a fantastic rental opportunity. High ceilings and lots of natural light are found in the cozy living room that is open to the kitchen and dining area. Grab a cup of coffee and enjoy the quiet surroundings on the balcony. The large primary bedroom also has lots of natural light and a closet outfitted with extra storage solutions. This community boasts tennis courts, a beautiful pool, security gates and patrol, and a clubhouse. Steps away from TMC for under 100k!

15. 2026-04-25
    price $87,500 588-char remark

    Show marketing remark (588 chars)

    Beautiful 1 bed/1 bath located near the Texas Med Center. Perfect condo for young professionals or investors interested in a fantastic rental opportunity. High ceilings and lots of natural light are found in the cozy living room that is open to the kitchen and dining area. Grab a cup of coffee and enjoy the quiet surroundings on the balcony. The large primary bedroom also has lots of natural light and a closet outfitted with extra storage solutions. This community boasts tennis courts, a beautiful pool, security gates and patrol, and a clubhouse. Steps away from TMC for under 100k!

16. 2026-03-25
    listed $88,000 Active 588-char remark

    Show marketing remark (588 chars)

    Beautiful 1 bed/1 bath located near the Texas Med Center. Perfect condo for young professionals or investors interested in a fantastic rental opportunity. High ceilings and lots of natural light are found in the cozy living room that is open to the kitchen and dining area. Grab a cup of coffee and enjoy the quiet surroundings on the balcony. The large primary bedroom also has lots of natural light and a closet outfitted with extra storage solutions. This community boasts tennis courts, a beautiful pool, security gates and patrol, and a clubhouse. Steps away from TMC for under 100k!

17. 2025-12-03
    historical
18. 2025-11-04
    price $88,000
19. 2025-10-07
    price $89,000
20. 2025-09-16
    status Active
21. 2025-09-12
    historical $1,000
22. 2025-09-10
    status Pending
23. 2025-09-04
    listed $1,000
24. 2025-08-26
    price $91,000
25. 2025-06-30
    price $92,000
26. 2025-06-07
    listed $99,999 Active
27. 2024-01-08
    historical
28. 2024-01-08
    listed $96,000 Active
29. 2024-01-08
    historical
30. 2024-01-01
    price $96,000
31. 2023-11-25
    status Active
32. 2023-11-21
    historical $1,250
33. 2023-11-20
    status Option Pending
34. 2023-10-31
    price $105,000
35. 2023-10-31
    price $104,000
36. 2023-10-29
    listed $1,250
37. 2023-10-27
    listed $101,000 Active
38. 2023-10-12
    historical $1,250
39. 2023-09-30
    listed $1,250
40. 2022-05-20
    soldstatus
41. 2022-05-19
    soldstatus Sold
42. 2022-05-05
    status Pending
43. 2022-04-24
    listed $80,000 Active
44. 2000-02-01
    soldstatus
45. 2000-01-31
    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: $1,931 · $161/mo
• Projected year-2 tax: $1,931 · $161/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) · 72% 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: $12,351
• − Mortgage interest: −$4,425
• − Property taxes: −$1,931
• − Insurance: −$395
• − Repairs & maintenance: −$988
• − Management: −$988
• − HOA: −$4,308
• − Depreciation: −$2,298
• Taxable loss: −$2,983
• Est. tax savings @ 24.0%: +$716
• After-tax cash flow: $-1,132/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

+0.0% since first listed

32 events — show timeline

• 2026-05-07 Price Changed $80,000 HARMLS
• 2026-04-25 Price Changed $87,500 HARMLS
• 2026-03-25 Listed $88,000 HARMLS
• 2025-12-03 Listing Removed — HARMLS
• 2025-11-04 Price Changed $88,000 HARMLS
• 2025-10-07 Price Changed $89,000 HARMLS
• 2025-09-16 Relisted — HARMLS
• 2025-09-12 Rental Removed $1,000 HARMLS
• 2025-09-10 Pending — HARMLS
• 2025-09-04 Listed for Rent $1,000 HARMLS
• 2025-08-26 Price Changed $91,000 HARMLS
• 2025-06-30 Price Changed $92,000 HARMLS
• 2025-06-07 Listed $99,999 HARMLS
• 2024-01-08 Listing Removed — HARMLS
• 2024-01-08 Listed $96,000 HARMLS
• 2024-01-08 Listing Removed — HARMLS
• 2024-01-01 Price Changed $96,000 HARMLS
• 2023-11-25 Relisted — HARMLS
• 2023-11-21 Rental Removed $1,250 HARMLS
• 2023-11-20 Pending — HARMLS
• 2023-10-31 Price Changed $105,000 HARMLS
• 2023-10-31 Price Changed $104,000 HARMLS
• 2023-10-29 Listed for Rent $1,250 HARMLS
• 2023-10-27 Listed $101,000 HARMLS
• 2023-10-12 Rental Removed $1,250 HARMLS
• 2023-09-30 Listed for Rent $1,250 HARMLS
• 2022-05-20 Sold (Public Records) — Public Records
• 2022-05-19 Sold (MLS) — HARMLS
• 2022-05-05 Pending — HARMLS
• 2022-04-24 Listed $80,000 HARMLS
• 2000-02-01 Sold (Public Records) — Public Records
• 2000-01-31 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $1,931 · -2.4% YoY. Source: county tax records.