212 Plaza Verde Dr Unit F-22 · Houston, TX 77038

$79,000

2 bd · 1.5 ba · 975 sqft · Condo public records · 381 Days on market

Built 1980 $81/sqft · 9% above area Est $73k · 9% over $280/mo HOA · 24% 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).

• Cash flow +17.4/30.0
• 1% rule +10.0/10.0
• DSCR +5.4/10.0
• Livability +3.7/5.0
• ARV discount +3.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Renovated and move-in ready, this 2-bed, 1 full + 2 half bath condo is ideal for first-time buyers, downsizers, or investors. Enjoy an open layout with luxury vinyl flooring, a stylish kitchen featuring butcher block counters, updated cabinets, ceramic cooktop, and refrigerator. Both bedrooms are well-sized, and the primary suite offers direct access to a spacious balcony. The like-new washer and dryer stay, along with interior and exterior storage. With spacious living spaces , controlled access, a community pool, and a great location near shopping, dining, and major roads—this condo is low-maintenance and high on value. A smart choice for living or leasing!

Key facts

• Ceramic cooktop
• Controlled access
• Community pool

Tags

• BUTCHER BLOCK COUNTERS
• CERAMIC COOKTOP
• SPACIOUS BALCONY
• COMMUNITY POOL
• CONTROLLED ACCESS
• INTERIOR STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $79k.

Deal economics

• At list price, monthly cash flow is $-8 ($-94/yr) — negative.
• To cash-flow at today's rent, offer at most $78k (1.7% below list).
• Meets the 1% rule at list price ($1k rent vs $79k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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: schools D, crime F.
• Aldine ISD (suburban): math 16% / reading 21% proficiency, ranked #790 of 826 in TX (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 52 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 $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 381 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y ago; this cycle's ask has dropped $14k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 24% of rent.
• Climate carrying-cost: major 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 $69,520 (12.0% 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 381 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
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: 1.50% ✓
• Cap rate: 7.18%
• Cash-on-cash: 3.18%
• DSCR: 1.14
• GRM: 5.5

CMA / ARV

• ARV (median comp): $72,541
• List price: $79,000
• Delta: 8.90%
• Verdict: FAIR
• Comps: 10 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.6%
• Equity multiple: 0.41×
• Total profit: $-13,035
• Equity at exit: $11,779

10-year hold

• IRR: -7.7%
• Equity multiple: 0.51×
• Total profit: $-10,919
• 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 77038

• Home prices YoY: -20.0%
• Active inventory: 52
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,188 high
• Mortgage (P&I): −$414
• Tax from tax record: −$153 /mo · $1,832/yr
• Insurance: −$33
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$280
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $-8

Break-even live

Break-even rent $1,198

Max offer price $77,619

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

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
202 Plaza Verde Dr Unit A23 Houston, TX	1.0	1.0	728	$900	$1.24	43d	1	0.03mi
202 Plaza Verde Dr Unit A26 Houston, TX	3.0	2.0	1050	$1,375	$1.31	43d	1	0.03mi
206 Plaza Verde Dr Houston, TX	3.0	1.0–2.0	907	$1,175	$1.30	43d	7	0.05mi
218 Plaza Verde Dr Unit M2202 Houston, TX	2.0	2.0	1000	$1,125	$1.12	43d	1	0.06mi
218 Plaza Verde Dr Unit N108 Houston, TX	1.0	1.0	660	$825	$1.25	43d	1	0.06mi
218 Plaza Verde Dr Unit N103 Houston, TX	1.0	1.0	728	$900	$1.24	43d	1	0.06mi
11500 Green Plaza Dr Houston, TX	1.0–2.0	1.0–2.0	699	$1,174	$1.68	21d	6	0.07mi
207 Plaza Verde Dr Houston, TX	2.0	1.0	784	$975	$1.24	43d	1	0.13mi
11411 Green Plaza Dr Houston, TX	1.0–2.0	1.0–2.0	699	$1,250	$1.79	3d	45	0.18mi
11411 Green Plaza Dr Houston, TX	1.0	1.0	644	$1,014	$1.57	43d	1	0.18mi
70 Northpoint Dr Houston, TX	1.0	1.0	644	$800	$1.24	24d	1	0.44mi
70 Northpoint Dr Houston, TX	2.0	2.0	880	$1,105	$1.26	16d	1	0.44mi
70 Northpoint Dr Houston, TX	2.0	2.0	880	$1,105	$1.26	43d	1	0.44mi
131 Aldine Bender Rd Houston, TX	1.0–2.0	1.0–2.0	868	$1,095	$1.26	10d	9	0.66mi
137 Aldine Bender Rd Houston, TX	2.0	1.0	950	$1,146	$1.21	43d	1	0.67mi
12121 Greenspoint Dr Houston, TX	1.0–4.0	1.0–2.0	932	$1,151	$1.23	1d	13	0.78mi
424 Northpoint Dr Houston, TX	2.0	2.0	880	$1,230	$1.40	43d	1	0.81mi
16107 Imperial Valley Dr Houston, TX	2.0	2.0	910	$1,088	$1.20	43d	1	0.87mi
8 Goodson Dr Houston, TX	1.0	1.0	660	$1,020	$1.55	24d	1	0.91mi
2 Goodson Dr Unit 1162 Houston, TX	1.0	1.0	620	$784	$1.26	7d	1	0.94mi
2 Goodson Dr Unit 3047 Houston, TX	3.0	2.0	885	$1,056	$1.19	16d	1	0.94mi
2 Goodson Dr Unit 2047 Houston, TX	2.0	2.0	782	$957	$1.22	1d	1	0.94mi
2 Goodson Dr Houston, TX	1.0	1.0	620	$773	$1.25	5d	1	0.94mi
220 Northpoint Dr Houston, TX	1.0–2.0	1.0–2.0	698	$1,185	$1.70	7d	29	0.95mi
125 W Dyna Dr Houston, TX	1.0–2.0	1.0–2.0	843	$1,290	$1.53	1d	16	0.99mi
2 Goodson Dr Unit 2162 Houston, TX	2.0	2.0	782	$965	$1.23	7d	1	1.01mi
131 W Dyna Dr Houston, TX	2.0	2.0	1054	$1,275	$1.21	12d	1	1.03mi
131 W Dyna Dr Houston, TX	1.0	1.0	632	$940	$1.49	4d	1	1.03mi
131 W Dyna Dr Houston, TX	1.0	1.0	632	$940	$1.49	21d	1	1.03mi
131 W Dyna Dr Houston, TX	2.0	2.0	1054	$1,275	$1.21	43d	1	1.03mi
16309 Imperial Valley Dr Houston, TX	2.0	2.0	852	$1,039	$1.22	18d	1	1.06mi
16309 Imperial Valley Dr Houston, TX	2.0	2.0	852	$1,039	$1.22	43d	1	1.06mi
16972 Northchase Dr Houston, TX	1.0	1.0	668	$794	$1.19	43d	1	1.06mi
1309 Grand Plaza Dr Houston, TX	2.0	2.0	988	$964	$0.98	43d	1	1.13mi
400 Greens Rd Houston, TX	1.0–3.0	1.0–2.5	950	$1,075	$1.13	1d	1	1.17mi
12603 Northborough Dr Houston, TX	1.0–2.0	1.0–2.0	828	$1,014	$1.22	1d	8	1.19mi
12603 Northborough Dr Houston, TX	1.0–2.0	1.0–2.0	747	$949	$1.27	43d	14	1.19mi
16001 Cotillion Dr Houston, TX	1.0–2.0	1.0–2.0	737	$999	$1.35	43d	52	1.22mi
407 Greens Rd Houston, TX	1.0–2.0	1.0–2.0	756	$1,042	$1.38	1d	7	1.26mi
407 Greens Rd Houston, TX	1.0–2.0	1.0–2.0	781	$1,099	$1.41	43d	6	1.26mi

HOA detail condo

• Monthly dues: $280 · $3,360/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-18
   days on market $79,000 Active 381 DOM
2. 2026-06-17
   days on market $79,000 Active 380 DOM
3. 2026-06-16
   days on market $79,000 Active 379 DOM
4. 2026-06-15
   days on market $79,000 Active 378 DOM
5. 2026-06-13
   days on market $79,000 Active 376 DOM
6. 2026-06-13
   days on market $79,000 Active 375 DOM
7. 2026-06-09
   days on market $79,000 Active 372 DOM
8. 2026-06-08
   days on market $79,000 Active 371 DOM
9. 2026-06-07
   days on market $79,000 Active 370 DOM
10. 2026-06-04
    days on market $79,000 Active 367 DOM
11. 2026-06-03
    days on market $79,000 Active 366 DOM
12. 2026-06-02
    days on market $79,000 Active 365 DOM
13. 2026-06-01
    days on market $79,000 Active 364 DOM
14. 2026-05-31
    days on market $79,000 Active 363 DOM
15. 2026-05-18
    price $79,000 673-char remark

    Show marketing remark (673 chars)

    Renovated and move-in ready, this 2-bed, 1 full + 2 half bath condo is ideal for first-time buyers, downsizers, or investors. Enjoy an open layout with luxury vinyl flooring, a stylish kitchen featuring butcher block counters, updated cabinets, ceramic cooktop, and refrigerator. Both bedrooms are well-sized, and the primary suite offers direct access to a spacious balcony. The like-new washer and dryer stay, along with interior and exterior storage. With spacious living spaces , controlled access, a community pool, and a great location near shopping, dining, and major roads—this condo is low-maintenance and high on value. A smart choice for living or leasing!

16. 2025-07-21
    price $87,000 673-char remark

    Show marketing remark (673 chars)

    Renovated and move-in ready, this 2-bed, 1 full + 2 half bath condo is ideal for first-time buyers, downsizers, or investors. Enjoy an open layout with luxury vinyl flooring, a stylish kitchen featuring butcher block counters, updated cabinets, ceramic cooktop, and refrigerator. Both bedrooms are well-sized, and the primary suite offers direct access to a spacious balcony. The like-new washer and dryer stay, along with interior and exterior storage. With spacious living spaces , controlled access, a community pool, and a great location near shopping, dining, and major roads—this condo is low-maintenance and high on value. A smart choice for living or leasing!

17. 2025-06-02
    listed $93,000 Active 673-char remark

    Show marketing remark (673 chars)

    Renovated and move-in ready, this 2-bed, 1 full + 2 half bath condo is ideal for first-time buyers, downsizers, or investors. Enjoy an open layout with luxury vinyl flooring, a stylish kitchen featuring butcher block counters, updated cabinets, ceramic cooktop, and refrigerator. Both bedrooms are well-sized, and the primary suite offers direct access to a spacious balcony. The like-new washer and dryer stay, along with interior and exterior storage. With spacious living spaces , controlled access, a community pool, and a great location near shopping, dining, and major roads—this condo is low-maintenance and high on value. A smart choice for living or leasing!

18. 2025-01-22
    historical
19. 2025-01-08
    price $95,000
20. 2024-10-11
    price $99,500
21. 2024-09-23
    listed $110,000 Active
22. 2024-06-03
    soldstatus
23. 2024-05-31
    soldstatus Sold
24. 2024-05-22
    status Pending
25. 2024-04-26
    listed $95,000 Active
26. 2022-12-21
    soldstatus
27. 2021-02-05
    soldstatus
28. 2021-02-03
    soldstatus Sold
29. 2021-01-09
    status Pending
30. 2021-01-06
    status Option Pending
31. 2020-12-10
    price $55,000
32. 2020-09-04
    listed $65,000 Active
33. 2013-08-20
    soldstatus
34. 2008-11-12
    soldstatus
35. 2008-05-01
    soldstatus
36. 2000-11-21
    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: $1,832 · $153/mo
• Projected year-2 tax: $1,832 · $153/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,256
• − Mortgage interest: −$4,425
• − Property taxes: −$1,832
• − Insurance: −$1,192
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − HOA: −$3,360
• − Depreciation: −$2,298
• Taxable loss: −$1,133
• Est. tax savings @ 24.0%: +$272
• After-tax cash flow: $178/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: Aldine ISD
• NCES district ID: 4807710
• Math proficiency: 16% ▼ -23.00%
• Reading proficiency: 21% ▼ -11.00%
• Median HH income: $37,081
• Composite: 15.42/100
• National rank: #9317
• State rank: #790 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): 32,637
• Household income: $57,232
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 1038.0

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: Predominantly Hispanic (70%)
• Race & ethnicity: Hispanic / Latino 70% Two or more races 23% Black 21% Asian 4% White 3%
• Hispanic origin (detail): Mexican 52% Puerto Rican 1% Cuban 1%
• Foreign-born: 36% · Canada, Vietnam
• Languages at home: 32% English-only · Spanish 64% Vietnamese 3% 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: ▼ -69.18%
• Current HPI: 277.0068
• Rent YoY: —
• 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

+21.5% since first listed

22 events — show timeline

• 2026-05-18 Price Changed $79,000 HARMLS
• 2025-07-21 Price Changed $87,000 HARMLS
• 2025-06-02 Listed $93,000 HARMLS
• 2025-01-22 Listing Removed — HARMLS
• 2025-01-08 Price Changed $95,000 HARMLS
• 2024-10-11 Price Changed $99,500 HARMLS
• 2024-09-23 Listed $110,000 HARMLS
• 2024-06-03 Sold (Public Records) — Public Records
• 2024-05-31 Sold (MLS) — HARMLS
• 2024-05-22 Pending — HARMLS
• 2024-04-26 Listed $95,000 HARMLS
• 2022-12-21 Sold (Public Records) — Public Records
• 2021-02-05 Sold (Public Records) — Public Records
• 2021-02-03 Sold (MLS) — HARMLS
• 2021-01-09 Pending — HARMLS
• 2021-01-06 Pending — HARMLS
• 2020-12-10 Price Changed $55,000 HARMLS
• 2020-09-04 Listed $65,000 HARMLS
• 2013-08-20 Sold (Public Records) — Public Records
• 2008-11-12 Sold (Public Records) — Public Records
• 2008-05-01 Sold (Public Records) — Public Records
• 2000-11-21 Sold (Public Records) — Public Records

Property tax history

+10.7%/yr

Latest (2025): $1,832 · +20.7% YoY. Source: county tax records.