6633 W Airport Blvd #812 · Houston, TX 77035

$66,900

2 bd · 2.0 ba · 1,063 sqft · Condo public records · 19 Days on market

Built 1982 $50/mo HOA · 4% of rent

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Why this score? — see what drove the B- 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).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

BEST DEAL IN THIS CONDO COMPLEX. Fully renovated upper-level corner-unit condo in a gated community, priced to sell fast. This 2-bedroom, 2-bathroom unit features an open and functional layout, spacious bedrooms, updated laminate wood flooring, and a private balcony off the living room. The living room also includes a cozy fireplace, creating a comfortable space to relax and enjoy the home. Refrigerator and stove are included, and the unit has washer and dryer connections for added convenience. The property also comes with a carport that fits two cars and is currently vacant, making it ready for its next owner or investor. Per seller, the property has never flooded. Buyer is responsible for

Key facts

• $50 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $67k.

Deal economics

• At list price, monthly cash flow is $307 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $67k).
• Recommended offer: $66k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.8% 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: 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: Fondren Middle (math 13% / reading 20%, grade F, #1,536 of 1,662 statewide, top 93%, 840 students, 99% FRL); Westbury H S (math 19% / reading 31%, grade F, #1,250 of 1,632 statewide, top 77%, 2,243 students, 92% FRL) — zoned schools average 95% FRL vs 71% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 199 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $463 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $19k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 19 days — a 2% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 21y ago; this cycle's ask has dropped $12k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.
• 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.

Recommended offer $65,896 (1.5% below list)

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.69% ✓
• Cap rate: 11.79%
• Cash-on-cash: 19.64%
• DSCR: 1.87
• GRM: 4.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.02% rent growth · sell at horizon

5-year hold

• IRR: 7.8%
• Equity multiple: 1.29×
• Total profit: $5,492
• Equity at exit: $9,975

10-year hold

• IRR: 13.9%
• Equity multiple: 1.94×
• Total profit: $17,605
• Equity at exit: $5,784

Cash invested: $18,732 (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 77035

• Rents YoY: 0.0%
• Active inventory: 199
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,127 high
• Mortgage (P&I): −$351
• Tax from tax record: −$155 /mo · $1,865/yr
• Insurance: −$28
• HOA: −$50
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $307

Break-even live

Break-even rent $739

Max offer price $66,900

Occupancy floor 68%

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: $16,725
• Closing costs: $2,007
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6633 W Airport Blvd Houston, TX	1.0–2.0	1.5–2.0	1063	$1,200	$1.13	43d	2	0.05mi
12247 Sunset Meadow Ln Houston, TX	1.0–3.0	1.0–2.0	990	$1,392	$1.41	3d	1	0.16mi
12271 Fondren Rd Houston, TX	2.0	2.0	1007	$1,050	$1.04	22d	1	0.17mi
12271 Fondren Rd Houston, TX	2.0	2.0	1007	$1,050	$1.04	18d	1	0.17mi
12245 Sunset Meadow Ln Houston, TX	3.0	2.0	1257	$1,515	$1.21	43d	1	0.17mi
12500 Sandpiper Dr Houston, TX	2.0	1.0–2.0	1018	$1,094	$1.07	43d	6	0.20mi
12211 Fondren Rd Houston, TX	1.0–2.0	1.0–2.0	817	$1,249	$1.53	2d	20	0.21mi
6363 W Airport Blvd Unit 622 Houston, TX	2.0	2.0	946	$974	$1.03	16d	1	0.24mi
6363 W Airport Blvd Houston, TX	2.0	1.0–2.0	744	$985	$1.32	7d	1	0.26mi
6392 Peacock Hills Dr Houston, TX	2.0	2.0	1244	$1,400	$1.13	43d	1	0.28mi
14550 Fonmeadow Dr Houston, TX	1.0–2.0	1.0–2.0	1057	$1,350	$1.28	43d	2	0.29mi
6363 W Airport Blvd Apt 1823 Houston, TX	2.0	1.0	875	$790	$0.90	43d	1	0.31mi
6363 W Airport Blvd Unit 2224 Houston, TX	2.0	2.0	1033	$985	$0.95	16d	1	0.31mi
6363 W Airport Blvd Apt 721 Houston, TX	2.0	1.0	940	$875	$0.93	43d	1	0.31mi
6363 W Airport Blvd Unit 528 Houston, TX	1.0	1.0	728	$650	$0.89	16d	1	0.31mi
6363 W Airport Blvd Apt 2123 Houston, TX	2.0	1.0	794	$695	$0.88	43d	1	0.31mi
12261 Fondren Rd Houston, TX	2.0	2.0	1066	$1,200	$1.13	43d	1	0.32mi
12107 Fondren Rd Houston, TX	2.0	2.0	990	$1,125	$1.14	24d	1	0.32mi
12351 Bob White Dr Houston, TX	2.0	2.0	1000	$987	$0.99	43d	1	0.39mi
12351 Bob White Dr Houston, TX	2.0	2.0	1000	$987	$0.99	13d	1	0.39mi
7706 W Airport Blvd Houston, TX	2.0	1.0	875	$1,080	$1.23	43d	1	0.42mi
7700 W Airport Blvd Unit 7757 Houston, TX	2.0	2.0	1005	$1,232	$1.23	14d	1	0.43mi
6319 Southwood Ct N Houston, TX	3.0	1.0	1102	$1,450	$1.32	43d	1	0.44mi
12101 Fondren Rd Houston, TX	1.0–2.0	1.0–2.0	790	$1,198	$1.52	43d	23	0.47mi
12500 Dunlap St Houston, TX	1.0–3.0	1.0–2.0	907	$970	$1.07	2d	57	0.63mi
20 Alvarado Dr Houston, TX	2.0	2.0	938	$997	$1.06	20d	1	0.74mi
20 Alvarado Dr Houston, TX	2.0	2.0	938	$997	$1.06	43d	1	0.74mi
8030 W Airport Blvd Houston, TX	1.0–2.0	1.0–2.0	780	$1,044	$1.34	1d	31	0.86mi
12800 Dunlap St Houston, TX	1.0–3.0	1.0–2.0	851	$1,012	$1.19	1d	62	0.89mi
12202 Ormandy St Unit 12202 Houston, TX	2.0	1.5	1352	$1,200	$0.89	4d	1	0.91mi
12214 Ormandy St Unit 12214 Houston, TX	2.0	1.5	1352	$1,200	$0.89	4d	1	0.92mi
7809 Wolfield Ln Houston, TX	2.0	2.0	1208	$1,390	$1.15	43d	1	1.00mi
8300 W Airport Blvd Houston, TX	1.0–2.0	1.0–2.0	780	$1,130	$1.45	14d	1	1.01mi
1024 Sandpiper Dr Houston, TX	1.0	1.0	711	$910	$1.28	43d	1	1.02mi
6 Sandpiper Dr Houston, TX	3.0	2.0	993	$1,225	$1.23	12d	1	1.03mi
6 Sandpiper Dr Houston, TX	3.0	2.0	993	$1,225	$1.23	43d	1	1.03mi
6 Sandpiper Dr Houston, TX	2.0	2.0	960	$1,094	$1.14	18d	1	1.03mi
6 Sandpiper Dr Houston, TX	2.0	2.0	960	$1,094	$1.14	22d	1	1.03mi
10925 Fondren Rd Houston, TX	1.0	1.0	700	$874	$1.25	43d	1	1.22mi
8201 W Bellfort Ave Unit 2162 Houston, TX	2.0	2.0	848	$955	$1.13	5d	1	1.22mi

HOA detail condo

• Monthly dues: $50 · $600/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-18
   days on market $66,900 Coming Soon 19 DOM
2. 2026-06-17
   days on market $66,900 Coming Soon 18 DOM
3. 2026-06-16
   days on market $66,900 Coming Soon 17 DOM
4. 2026-06-15
   days on market $66,900 Coming Soon 16 DOM
5. 2026-06-13
   days on market $66,900 Coming Soon 14 DOM
6. 2026-06-09
   days on market $66,900 Coming Soon 10 DOM
7. 2026-06-08
   days on market $66,900 Coming Soon 9 DOM
8. 2026-06-07
   days on market $66,900 Coming Soon 8 DOM
9. 2026-06-04
   days on market $66,900 Coming Soon 5 DOM
10. 2026-06-03
    days on market $66,900 Coming Soon 4 DOM
11. 2026-06-02
    days on market $66,900 Coming Soon 3 DOM
12. 2026-06-01
    days on market $66,900 Coming Soon 2 DOM

ⓘ 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: $1,865 · $155/mo
• Projected year-2 tax: $1,865 · $155/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 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,528
• − Mortgage interest: −$3,747
• − Property taxes: −$1,865
• − Insurance: −$334
• − Repairs & maintenance: −$1,082
• − Management: −$1,082
• − HOA: −$600
• − Depreciation: −$1,946
• Taxable income: $2,871
• Est. tax owed @ 24.0%: −$689
• After-tax cash flow: $2,989/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): 36,019
• Household income: $58,686
• Rent vs Own: 59.5% rent · 40.5% own
• Severe rent burden: 2844.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 42% Black 29% White 23% Two or more races 19% Asian 2%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Lithuanian 2% Italian 1% Serbian 1%
• Foreign-born: 26% · Canada, China
• Languages at home: 56% English-only · Spanish 37% French/Haitian/Cajun 1% Other Asian/Pacific 1%

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: ▼ -145.44%
• Current HPI: 266.5195
• Rent YoY: ▬ 0.02%
• 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

+102.7% since first listed

42 events — show timeline

• 2026-05-30 Coming Soon $66,900 HARMLS
• 2026-02-09 Sold (Public Records) — Public Records
• 2025-11-14 Pending — HARMLS
• 2025-11-10 Pending — HARMLS
• 2025-11-09 Listing Removed — HARMLS
• 2025-09-06 Price Changed $68,997 HARMLS
• 2025-04-28 Price Changed $69,000 HARMLS
• 2024-12-07 Price Changed $85,000 HARMLS
• 2024-12-07 Relisted — HARMLS
• 2024-09-24 Listing Removed — HARMLS
• 2024-08-28 Listed $79,000 HARMLS
• 2021-03-25 Listing Removed — HARMLS
• 2021-03-23 Listed $64,500 HARMLS
• 2014-03-06 Sold (Public Records) — Public Records
• 2014-03-01 Listing Removed — HARMLS
• 2014-02-28 Sold (MLS) — HARMLS
• 2014-02-27 Pending — HARMLS
• 2014-02-14 Pending — HARMLS
• 2014-02-06 Pending — HARMLS
• 2014-02-04 Pending — HARMLS
• 2014-01-23 Pending — HARMLS
• 2014-01-16 Relisted — HARMLS
• 2014-01-13 Listing Removed — HARMLS
• 2013-09-07 Relisted — HARMLS
• 2013-08-30 Pending — HARMLS
• 2013-08-10 Listed $26,500 HARMLS
• 2013-04-06 Listing Removed — HARMLS
• 2012-12-28 Relisted — HARMLS
• 2012-12-18 Listing Removed — HARMLS
• 2012-12-06 Listed $26,500 HARMLS
• 2012-09-21 Listing Removed — HARMLS
• 2012-03-21 Listed $26,900 HARMLS
• 2008-04-16 Sold (Public Records) — Public Records
• 2008-01-01 Listing Removed — HARMLS
• 2007-10-04 Listed $27,900 HARMLS
• 2007-10-03 Listing Removed — HARMLS
• 2006-11-01 Listed $27,500 HARMLS
• 2006-07-18 Sold (Public Records) — Public Records
• 2005-08-28 Listing Removed — HARMLS
• 2005-02-28 Listed $33,000 HARMLS
• 2001-04-09 Sold (Public Records) — Public Records
• 2001-04-02 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $1,865 · +1.5% YoY. Source: county tax records.