3900 Woodchase Dr #138 · Houston, TX 77042

$76,900

2 bd · 1.0 ba · 760 sqft · Condo public records · 44 Days on market

Built 1982 $101/sqft · 19% below area Est $95k · 19% under $461/mo HOA · 39% of rent ↓ 4% since listing

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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 +10.0/10.0
• Cash flow +6.2/30.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Rent growth +1.9/5.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Well-maintained 2-bedroom condo located in a gated community in Westchase. This second-floor unit offers an open-concept layout with a seamless flow between the living, dining, and kitchen areas. The living room features a wood-burning fireplace, creating a warm and inviting focal point. The kitchen offers functional space with ample cabinetry and an adjacent breakfast area for casual dining. Both bedrooms are well-proportioned, with a walk-in closet in the primary suite. The home features tile flooring throughout, with tile plank flooring in the bathroom. The bathroom includes a tub/shower combination with updated finishes. A dedicated in-unit laundry area includes a dryer. Enjoy two assig

Key facts

• Gated community
• Ample cabinetry
• Walk-in closet

Tags

• GATED COMMUNITY
• OPEN-CONCEPT LAYOUT
• WOOD-BURNING FIREPLACE
• AMPLE CABINETRY
• BREAKFAST AREA
• WALK-IN CLOSET

Property features AI

Finance

• Other: Lot size information not included per instructions
• Financial info: Lease not considered
• HOA & community: Managed by KRJ Management; Monthly HOA fee; HOA covers common areas, insurance, recreation facilities, and trash

Exterior

• Parking: No parking details provided
• Security: Gated community
• Utilities: Public water; Public sewer; Electric service
• Home design: Residential property; Single-story; Entry level: First floor
• Construction: Built in 1982; Brick and wood siding exterior; Composition roof; Slab foundation
• Exterior features: Community pool

Interior

• Kitchen: Electric oven; Electric range; Breakfast nook
• Bedrooms: Primary bedroom on the first floor; Additional bedroom on the first floor
• Flooring: Tile
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Kitchen/Family room combo; Tub with shower; Kitchen/Dining combo; Wood burning fireplace (1)
• Laundry & utility: Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $77k.

Deal economics

• At list price, monthly cash flow is $-142 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $52k (32.5% below list).
• Meets the 1% rule at list price ($1k rent vs $77k).
• Recommended offer: $52k (32.5% below list) — sets the bar for cash-flow.
• Cap rate 4.1% 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.
• Alief ISD (urban): math 23% / reading 28% proficiency, ranked #717 of 826 in TX (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Sneed El (math 19% / reading 19%, grade F, #3,739 of 4,322 statewide, top 87%, 1,033 students, 92% FRL); O'Donnell Middle (math 32% / reading 33%, grade F, #947 of 1,662 statewide, top 58%, 1,230 students, 89% FRL); Alief Isd J J A E P (13 students, 77% FRL).
• Market conditions: Rents soft (-2.3%/yr); 249 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 $532 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 44 days — a 3% lower offer ($75k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; HOA is 39% of rent.
• 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.

Recommended offer $51,884 (32.5% 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 44 days. Have you received any prior offers? Is the seller open to a 33% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
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: 1.56% ✓
• Cap rate: 4.08%
• Cash-on-cash: -7.89%
• DSCR: 0.65
• GRM: 5.4

CMA / ARV

• ARV (median comp): $94,715
• List price: $76,900
• Delta: -18.81%
• 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: -37.9%
• Equity multiple: -0.14×
• Total profit: $-24,627
• Equity at exit: $11,466

10-year hold

• IRR: —
• Equity multiple: -1.10×
• Total profit: $-45,146
• Equity at exit: $6,649

Cash invested: $21,532 (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 77042

• Rents YoY: -2.3%
• Active inventory: 249
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,196 high
• Mortgage (P&I): −$403
• Tax from tax record: −$190 /mo · $2,283/yr
• Insurance: −$32
• HOA: −$461
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $-142

Break-even live

Break-even rent $1,375

Max offer price $51,884

Occupancy floor —

Sensitivity live

Price	-10% $-98	-5% $-120	+0% $-142	+5% $-163	+10% $-185
Rent	-10% $-236	-5% $-189	+0% $-142	+5% $-94	+10% $-47
Rate	-1.0pp $-103	-0.5pp $-122	base $-142	+0.5pp $-162	+1.0pp $-182

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: $19,225
• Closing costs: $2,307
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3750 Thistlemont Dr Houston, TX	2.0	2.0	1080	$1,400	$1.30	45d	1	0.05mi
3900 Woodchase Dr Houston, TX	1.0–2.0	1.0	612	$1,400	$2.29	0d	3	0.07mi
3729 Thistlemont Dr Houston, TX	1.0	1.0	872	$1,003	$1.15	0d	1	0.08mi
10070 Westpark Dr Houston, TX	1.0–2.0	1.0–2.0	720	$1,199	$1.67	0d	19	0.17mi
10100 Westpark Dr Houston, TX	1.0–2.0	1.0–2.0	891	$1,299	$1.46	18d	21	0.18mi
10051 Westpark Dr #263 Houston, TX	1.0	1.0	680	$950	$1.40	45d	1	0.25mi
10010 Westpark Dr Unit 1104 Houston, TX	1.0	1.0	710	$1,069	$1.51	26d	1	0.35mi
3406 Woodchase Dr Houston, TX	1.0	1.0	704	$864	$1.23	45d	1	0.39mi
3400 Woodchase Dr Houston, TX	1.0–2.0	1.0–2.0	797	$1,134	$1.42	3d	28	0.43mi
5909 Ranchester Dr Unit 2162 Houston, TX	2.0	2.0	767	$912	$1.19	9d	1	0.45mi
5909 Ranchester Dr Unit 2165 Houston, TX	2.0	2.0	767	$896	$1.17	0d	1	0.45mi
5909 Ranchester Dr Unit 5960 Houston, TX	1.0	1.0	563	$708	$1.26	17d	1	0.45mi
5909 Ranchester Dr Unit 1162 Houston, TX	1.0	1.0	610	$836	$1.37	9d	1	0.45mi
5909 Ranchester Dr Unit 5930 Houston, TX	1.0	1.0	610	$875	$1.43	12d	1	0.45mi
5909 Ranchester Dr Unit 1165 Houston, TX	1.0	1.0	610	$825	$1.35	0d	1	0.45mi
5915 Ranchester Dr Houston, TX	1.0	1.0	563	$841	$1.49	45d	1	0.47mi
9707 Richmond Ave Houston, TX	1.0–2.0	1.0–2.0	1000	$2,250	$2.25	45d	4	0.47mi
3799 Westcenter Dr Houston, TX	2.0	2.0	1105	$1,555	$1.41	26d	1	0.49mi
3777 S Gessner Rd Unit 1801 WD Houston, TX	2.0	1.0	876	$1,140	$1.30	45d	1	0.53mi
3777 S Gessner Rd Unit 1811 WD Houston, TX	2.0	1.0	876	$1,140	$1.30	9d	1	0.53mi
3777 S Gessner Rd Unit 1213 Houston, TX	1.0	1.0	576	$820	$1.42	45d	1	0.53mi
3777 S Gessner Rd Unit 1108 Houston, TX	1.0	1.0	670	$920	$1.37	45d	1	0.53mi
3777 S Gessner Rd Unit 0315** WD Houston, TX	2.0	1.0	876	$1,240	$1.42	45d	1	0.53mi
9946 Richmond Ave Houston, TX	1.0	1.0	753	$1,100	$1.46	45d	1	0.55mi
9940 Richmond Ave Unit 1165 Houston, TX	1.0	1.0	753	$1,021	$1.36	0d	1	0.56mi
9940 Richmond Ave Unit 1047 Houston, TX	1.0	1.0	753	$1,062	$1.41	0d	1	0.56mi
9940 Richmond Ave Unit 2047 Houston, TX	2.0	2.0	1012	$1,360	$1.34	12d	1	0.56mi
9940 Richmond Ave Houston, TX	1.0	1.0	733	$925	$1.26	17d	1	0.56mi
9850 Richmond Ave Houston, TX	1.0–2.0	1.0–2.0	898	$1,619	$1.80	0d	9	0.56mi
10575 Westpark Dr Houston, TX	1.0–2.0	1.0–2.0	878	$1,412	$1.61	0d	20	0.57mi
9940 Richmond Ave Unit 9961 Houston, TX	1.0	1.0	753	$1,071	$1.42	12d	1	0.61mi
9940 Richmond Ave Unit 424 Houston, TX	2.0	2.0	1012	$1,325	$1.31	9d	1	0.61mi
9940 Richmond Ave Unit 324 Houston, TX	1.0	1.0	753	$1,032	$1.37	9d	1	0.61mi
9940 Richmond Ave Unit 2162 Houston, TX	2.0	2.0	1012	$1,325	$1.31	7d	1	0.61mi
9940 Richmond Ave Unit 9991 Houston, TX	1.0	1.0	733	$945	$1.29	45d	1	0.61mi
9940 Richmond Ave Unit 9997 Houston, TX	2.0	2.0	1012	$1,349	$1.33	12d	1	0.61mi
9940 Richmond Ave Unit 1162 Houston, TX	1.0	1.0	753	$1,032	$1.37	7d	1	0.61mi
9940 Richmond Ave Unit 2148 Houston, TX	2.0	2.0	1012	$1,309	$1.29	0d	1	0.61mi
10581 Westpark Dr Houston, TX	1.0	1.0	810	$1,293	$1.60	45d	1	0.62mi
8707 Town Park Dr Unit 3282 Houston, TX	2.0	2.0	975	$1,070	$1.10	18d	1	0.65mi

HOA detail condo

• Monthly dues: $461 · $5,532/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $76,900 Active 44 DOM
2. 2026-06-18
   days on market $76,900 Active 41 DOM
3. 2026-06-17
   pricedays on market $76,900 Active 40 DOM
4. 2026-06-16
   days on market $79,900 Active 39 DOM
5. 2026-06-15
   days on market $79,900 Active 38 DOM
6. 2026-06-13
   days on market $79,900 Active 36 DOM
7. 2026-06-09
   days on market $79,900 Active 32 DOM
8. 2026-06-08
   days on market $79,900 Active 31 DOM
9. 2026-06-07
   days on market $79,900 Active 30 DOM
10. 2026-06-04
    days on market $79,900 Active 27 DOM
11. 2026-06-03
    days on market $79,900 Active 26 DOM
12. 2026-06-02
    days on market $79,900 Active 25 DOM
13. 2026-06-01
    days on market $79,900 Active 24 DOM
14. 2026-05-31
    days on market $79,900 Active 23 DOM
15. 2026-05-09
    listed $79,900 Active 838-char remark
16. 2005-04-28
    soldstatus
17. 2001-12-12
    soldstatus
18. 1995-04-05
    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: $2,283 · $190/mo
• Projected year-2 tax: $2,283 · $190/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 23 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: $14,354
• − Mortgage interest: −$4,308
• − Property taxes: −$2,283
• − Insurance: −$384
• − Repairs & maintenance: −$1,148
• − Management: −$1,148
• − HOA: −$5,532
• − Depreciation: −$2,237
• Taxable loss: −$2,687
• Est. tax savings @ 24.0%: +$645
• After-tax cash flow: $-1,054/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: Alief ISD
• NCES district ID: 4807830
• Math proficiency: 23% ▼ -19.00%
• Reading proficiency: 28% ▼ -8.00%
• Median HH income: $37,775
• Composite: 21.29/100
• National rank: #8391
• State rank: #717 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): 38,721
• Household income: $59,097
• Rent vs Own: 73.7% rent · 26.3% own
• Severe rent burden: 3994.0

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: Hispanic / Latino 36% White 31% Black 24% Two or more races 18% Asian 6% Native American 1%
• Hispanic origin (detail): Mexican 14% Cuban 4%
• Common ancestry: Romanian 1% Serbian 1% Italian 1%
• Foreign-born: 35% · Canada, Jamaica, China
• Languages at home: 55% English-only · Spanish 31% Other Indo-European 2% Russian/Polish/Slavic 2%

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: ▼ -234.36%
• Current HPI: 215.9671
• Rent YoY: ▼ -2.30%
• 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

-3.8% since first listed

5 events — show timeline

• 2026-06-17 Price Changed $76,900 HARMLS
• 2026-05-09 Listed $79,900 HARMLS
• 2005-04-28 Sold (Public Records) — Public Records
• 2001-12-12 Sold (Public Records) — Public Records
• 1995-04-05 Sold (Public Records) — Public Records

Property tax history

+6.4%/yr

Latest (2025): $2,283 · +9.0% YoY. Source: county tax records.