10603 S Wilcrest Dr #23 · Houston, TX 77099

$65,000

1 bd · 1.0 ba · 680 sqft · Condo public records · 136 Days on market

Built 1978 $96/sqft · at area comps Est $62k · at est. $22/mo HOA · 2% 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 +27.7/30.0
• DSCR +9.8/10.0
• 1% rule +9.1/10.0
• Appreciation +6.3/10.0
• ARV discount +5.4/15.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +2.1/10.0

Listing remarks MLS

Beautifully updated 1-bedroom, 1-bath condo featuring a modern, move-in-ready feel. The interior has been freshly painted, giving the space a bright, clean, and contemporary look. The kitchen is equipped with a sleek granite countertop and a brand-new microwave, complementing the modern finishes throughout the home. Clean lines, updated surfaces, and a well-maintained layout make this condo both stylish and functional. Ideal for comfortable living with tasteful, modern upgrades already in place.

Key facts

• $22 HOA
• Parking
• Built 1978

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $65k.

Deal economics

• At list price, monthly cash flow is $130 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($917 rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 3.1% 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: schools D, 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.
• Market conditions: Rents soft (-1.7%/yr); 145 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (2.6% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (2.6% appreciation + 0.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 24y ago 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.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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.
12. 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.
13. 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: 1.41% ✓
• Cap rate: 9.92%
• Cash-on-cash: 12.97%
• DSCR: 1.58
• GRM: 5.9

CMA / ARV

• ARV (median comp): $62,144
• List price: $65,000
• Delta: 4.60%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

2.64% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 12.4%
• Equity multiple: 1.68×
• Total profit: $12,306
• Equity at exit: $27,914

10-year hold

• IRR: 12.7%
• Equity multiple: 2.69×
• Total profit: $30,734
• Equity at exit: $42,025

Cash invested: $18,200 (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 77099

• Home prices YoY: 0.8%
• Rents YoY: -1.7%
• Active inventory: 145
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $917 high
• Mortgage (P&I): −$341
• Tax from tax record: −$138 /mo · $1,653/yr
• Insurance: −$27
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$22
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $130

Break-even live

Break-even rent $752

Max offer price $65,000

Occupancy floor 81%

Sensitivity live

Price	-10% $167	-5% $149	+0% $130	+5% $112	+10% $93
Rent	-10% $58	-5% $94	+0% $130	+5% $166	+10% $203
Rate	-1.0pp $163	-0.5pp $147	base $130	+0.5pp $113	+1.0pp $96

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10440 South Dr Houston, TX	1.0–2.0	1.0–2.0	773	$965	$1.25	2d	27	0.18mi
10300 S Wilcrest Dr Unit 10374 Houston, TX	1.0	1.0	650	$741	$1.14	3d	1	0.26mi
10300 S Wilcrest Dr Unit 10351 Houston, TX	1.0	1.0	650	$733	$1.13	13d	1	0.26mi
10300 S Wilcrest Dr Unit 10374 Houston, TX	1.0	1.0	650	$779	$1.20	13d	1	0.26mi
13 South Dr Houston, TX	1.0	1.0	588	$894	$1.52	44d	1	0.26mi
10256 Lands End Dr Houston, TX	1.0	1.0	659	$929	$1.41	44d	1	0.50mi
10286 Forum West Dr Houston, TX	1.0	1.0	553	$830	$1.50	19d	1	0.54mi
10286 Forum West Dr Houston, TX	1.0	1.0	553	$830	$1.50	44d	1	0.54mi
10250 Lands End Dr Houston, TX	2.0	1.0–2.0	750	$1,089	$1.45	25d	16	0.54mi
10919 Stancliff Rd Unit 10934 Houston, TX	1.0	1.0	673	$1,303	$1.94	11d	1	0.55mi
10919 Stancliff Rd Unit 10940 Houston, TX	1.0	1.0	673	$1,299	$1.93	13d	1	0.55mi
10919 Stancliff Rd Unit 1112 Houston, TX	1.0	1.0	673	$1,261	$1.87	3d	1	0.55mi
10919 Stancliff Rd Unit 324 Houston, TX	1.0	1.0	673	$1,264	$1.88	8d	1	0.55mi
10919 Stancliff Rd Unit 1162 Houston, TX	1.0	1.0	673	$1,264	$1.88	6d	1	0.55mi
10919 Stancliff Rd Houston, TX	1.0	1.0	673	$1,253	$1.86	13d	1	0.58mi
10101 W Sam Houston Pkwy S Houston, TX	1.0–2.0	1.0–2.0	809	$850	$1.05	44d	1	0.61mi
10225 Bissonnet St Houston, TX	1.0–2.0	1.0–2.5	992	$795	$0.80	2d	49	0.78mi
9898 Forum Park Dr Unit 6406 Houston, TX	1.0	1.0	750	$925	$1.23	44d	1	0.88mi
10107 Forum Park Dr Houston, TX	1.0	1.0	550	$770	$1.40	44d	1	0.90mi
10107 Forum Park Dr Houston, TX	1.0	1.0	550	$770	$1.40	22d	1	0.90mi
10101 Forum Park Dr Houston, TX	1.0–2.0	1.0–2.0	825	$859	$1.04	2d	21	0.91mi
10009 Forum Park Dr Houston, TX	1.0	1.0	543	$819	$1.51	22d	1	0.94mi
10009 Forum Park Dr Houston, TX	1.0	1.0	543	$819	$1.51	44d	1	0.94mi
9761 Court Glen Dr Unit 123 Houston, TX	1.0	1.0	593	$739	$1.25	22d	1	0.96mi
9761 Court Glen Dr Unit 123 Houston, TX	1.0	1.0	593	$739	$1.25	44d	1	0.96mi
11715 S Glen Dr Houston, TX	1.0–2.0	1.0–2.0	796	$708	$0.89	2d	29	0.98mi
10411 South Dr Houston, TX	1.0–2.0	1.0–2.0	757	$899	$1.19	44d	1	0.99mi
11656 W Bellfort Ave Houston, TX	1.0	1.0	607	$920	$1.52	44d	1	1.02mi
9475 W Sam Houston Pkwy S Houston, TX	1.0–2.0	1.0–2.0	725	$773	$1.07	6d	18	1.08mi
14 W Sam Houston Pkwy S Houston, TX	1.0	1.0	619	$779	$1.26	22d	1	1.09mi
14 W Sam Houston Pkwy S Houston, TX	1.0	1.0	619	$779	$1.26	44d	1	1.09mi
9430 Concourse Dr Houston, TX	1.0	1.0	719	$842	$1.17	13d	1	1.11mi
11735 S Glen Dr Houston, TX	1.0–2.0	1.0–2.0	853	$910	$1.07	3d	23	1.13mi
9502 Woodfair Dr Houston, TX	1.0–2.0	1.0–2.0	711	$640	$0.90	4d	31	1.14mi
9502 Woodfair Dr Houston, TX	1.0–2.0	1.0	636	$640	$1.01	44d	31	1.14mi
11732 W Bellfort Ave Stafford, TX	1.0	1.0	550	$935	$1.70	44d	1	1.15mi
9445 Concourse Dr Houston, TX	1.0–2.0	1.0–2.0	715	$603	$0.84	2d	21	1.16mi
11723 S Kirkwood Rd Houston, TX	1.0	1.0	656	$1,149	$1.75	44d	1	1.19mi
8600 S Course Dr Houston, TX	1.0–2.0	1.0–2.0	706	$675	$0.96	2d	31	1.22mi
10555 Spice Ln Houston, TX	1.0–3.0	1.0–2.0	937	$755	$0.81	2d	16	1.38mi

HOA detail condo

• Monthly dues: $22 · $264/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 46 events

1. 2026-06-18
   days on market $65,000 Active 136 DOM
2. 2026-06-17
   days on market $65,000 Active 135 DOM
3. 2026-06-16
   days on market $65,000 Active 134 DOM
4. 2026-06-15
   days on market $65,000 Active 133 DOM
5. 2026-06-13
   days on market $65,000 Active 131 DOM
6. 2026-06-09
   days on market $65,000 Active 127 DOM
7. 2026-06-08
   days on market $65,000 Active 126 DOM
8. 2026-06-07
   days on market $65,000 Active 125 DOM
9. 2026-06-04
   days on market $65,000 Active 122 DOM
10. 2026-06-03
    days on market $65,000 Active 121 DOM
11. 2026-06-02
    days on market $65,000 Active 120 DOM
12. 2026-06-01
    days on market $65,000 Active 119 DOM
13. 2026-05-31
    days on market $65,000 Active 118 DOM
14. 2026-04-01
    price $65,000 500-char remark

    Show marketing remark (500 chars)

    Beautifully updated 1-bedroom, 1-bath condo featuring a modern, move-in-ready feel. The interior has been freshly painted, giving the space a bright, clean, and contemporary look. The kitchen is equipped with a sleek granite countertop and a brand-new microwave, complementing the modern finishes throughout the home. Clean lines, updated surfaces, and a well-maintained layout make this condo both stylish and functional. Ideal for comfortable living with tasteful, modern upgrades already in place.

15. 2026-02-02
    listed $67,000 Active 500-char remark

    Show marketing remark (500 chars)

    Beautifully updated 1-bedroom, 1-bath condo featuring a modern, move-in-ready feel. The interior has been freshly painted, giving the space a bright, clean, and contemporary look. The kitchen is equipped with a sleek granite countertop and a brand-new microwave, complementing the modern finishes throughout the home. Clean lines, updated surfaces, and a well-maintained layout make this condo both stylish and functional. Ideal for comfortable living with tasteful, modern upgrades already in place.

16. 2024-06-20
    historical $900
17. 2024-02-29
    listed $900
18. 2018-04-02
    soldstatus
19. 2018-03-30
    soldstatus Sold 378-char remark

    Show marketing remark (378 chars)

    This condo have been recently renovated with granite counter tops, tile floors on the main areas and laminated on the master bedroom. This i a spacious one bedroom condo on the second floor and no neighbors above that also offers a storage room in the balcony. Gated community with area pool. Modern kitchen cabinets and inside condo utility room with washer and dryer included.

20. 2018-03-23
    status Pending 378-char remark

    Show marketing remark (378 chars)

    This condo have been recently renovated with granite counter tops, tile floors on the main areas and laminated on the master bedroom. This i a spacious one bedroom condo on the second floor and no neighbors above that also offers a storage room in the balcony. Gated community with area pool. Modern kitchen cabinets and inside condo utility room with washer and dryer included.

21. 2018-03-17
    status Option Pending 378-char remark

    Show marketing remark (378 chars)

    This condo have been recently renovated with granite counter tops, tile floors on the main areas and laminated on the master bedroom. This i a spacious one bedroom condo on the second floor and no neighbors above that also offers a storage room in the balcony. Gated community with area pool. Modern kitchen cabinets and inside condo utility room with washer and dryer included.

22. 2018-03-05
    listed $49,000 Active 378-char remark

    Show marketing remark (378 chars)

    This condo have been recently renovated with granite counter tops, tile floors on the main areas and laminated on the master bedroom. This i a spacious one bedroom condo on the second floor and no neighbors above that also offers a storage room in the balcony. Gated community with area pool. Modern kitchen cabinets and inside condo utility room with washer and dryer included.

23. 2017-08-19
    historical
24. 2017-06-09
    price $46,500
25. 2017-04-11
    listed $47,500 Active
26. 2016-10-13
    soldstatus
27. 2016-10-10
    soldstatus Sold
28. 2016-09-30
    status Pending
29. 2016-09-22
    status Option Pending
30. 2016-09-13
    price $25,000
31. 2016-08-18
    listed $29,000 Active
32. 2015-08-19
    soldstatus
33. 2015-08-14
    soldstatus Sold
34. 2015-08-06
    status Pending
35. 2015-08-04
    status Option Pending
36. 2015-07-02
    listed $30,000 Active
37. 2007-07-11
    soldstatus
38. 2007-05-08
    historical
39. 2007-03-21
    listed $15,999
40. 2007-03-20
    historical
41. 2007-02-13
    listed $16,972
42. 2006-07-21
    soldstatus
43. 2004-02-06
    soldstatus
44. 2002-10-14
    historical
45. 2002-09-10
    soldstatus
46. 2002-07-31
    listed $15,500

ⓘ 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: $1,653 · $138/mo
• Projected year-2 tax: $1,653 · $138/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 8/10 Severe FEMA zone X (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 21 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: $11,003
• − Mortgage interest: −$3,641
• − Property taxes: −$1,653
• − Insurance: −$1,122
• − Repairs & maintenance: −$880
• − Management: −$880
• − HOA: −$264
• − Depreciation: −$1,891
• Taxable income: $671
• Est. tax owed @ 24.0%: −$161
• After-tax cash flow: $1,402/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): 50,064
• Household income: $49,396
• Rent vs Own: 62.6% rent · 37.4% own
• Severe rent burden: 3423.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 47% Black 31% Asian 14% Two or more races 14% White 7%
• Hispanic origin (detail): Mexican 24%
• Foreign-born: 46% · Canada, Vietnam, China
• Languages at home: 41% English-only · Spanish 40% Other Indo-European 5% Vietnamese 4%

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: ▲ 2.64%
• Current HPI: 334.6278
• Rent YoY: ▼ -1.69%
• 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

+319.4% since first listed

33 events — show timeline

• 2026-04-01 Price Changed $65,000 HARMLS
• 2026-02-02 Listed $67,000 HARMLS
• 2024-06-20 Rental Removed $900 HARMLS
• 2024-02-29 Listed for Rent $900 HARMLS
• 2018-04-02 Sold (Public Records) — Public Records
• 2018-03-30 Sold (MLS) — HARMLS
• 2018-03-23 Pending — HARMLS
• 2018-03-17 Pending — HARMLS
• 2018-03-05 Listed $49,000 HARMLS
• 2017-08-19 Listing Removed — HARMLS
• 2017-06-09 Price Changed $46,500 HARMLS
• 2017-04-11 Listed $47,500 HARMLS
• 2016-10-13 Sold (Public Records) — Public Records
• 2016-10-10 Sold (MLS) — HARMLS
• 2016-09-30 Pending — HARMLS
• 2016-09-22 Pending — HARMLS
• 2016-09-13 Price Changed $25,000 HARMLS
• 2016-08-18 Listed $29,000 HARMLS
• 2015-08-19 Sold (Public Records) — Public Records
• 2015-08-14 Sold (MLS) — HARMLS
• 2015-08-06 Pending — HARMLS
• 2015-08-04 Pending — HARMLS
• 2015-07-02 Listed $30,000 HARMLS
• 2007-07-11 Sold (Public Records) — Public Records
• 2007-05-08 Listing Removed — HARMLS
• 2007-03-21 Listed $15,999 HARMLS
• 2007-03-20 Listing Removed — HARMLS
• 2007-02-13 Listed $16,972 HARMLS
• 2006-07-21 Sold (Public Records) — Public Records
• 2004-02-06 Sold (Public Records) — Public Records
• 2002-10-14 Listing Removed — HARMLS
• 2002-09-10 Sold (Public Records) — Public Records
• 2002-07-31 Listed $15,500 HARMLS

Property tax history

+7.5%/yr

Latest (2025): $1,653 · -0.7% YoY. Source: county tax records.