9797 Leawood Blvd #106 · Houston, TX 77099

$65,000

2 bd · 2.0 ba · 1,068 sqft · Condo public records · 60 Days on market

Built 1983 $373/mo HOA · 29% of rent

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Why this score? — see what drove the C+ 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 +22.5/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Appreciation +6.3/10.0
• 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

Home requires updating. It is structurally sound. Two bedrooms with a split plan. Second room can be turned to a primary bedroom. Wide and spacious plan. Bring your investor or buyers interested in finish up this one.

Key facts

• $373 HOA
• Parking
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $65k.

Deal economics

• At list price, monthly cash flow is $43 ($518/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.3% 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.
• 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); 147 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).
• This rent runs 31% of the median local income ($49k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; flood insurance adds $66/mo; HOA is 29% of rent.
• Climate carrying-cost: major flood risk; 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 $63,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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. 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.
10. 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.
11. 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: 1.99% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.23%
• DSCR: 1.32
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 6.0%
• Equity multiple: 1.32×
• Total profit: $5,904
• Equity at exit: $27,914

10-year hold

• IRR: 6.1%
• Equity multiple: 1.81×
• Total profit: $14,754
• 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: 147
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,292 high
• Mortgage (P&I): −$341
• Tax from tax record: −$170 /mo · $2,041/yr
• Insurance: −$27
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$373
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $43

Break-even live

Break-even rent $1,237

Max offer price $65,000

Occupancy floor 92%

Sensitivity live

Price	-10% $80	-5% $62	+0% $43	+5% $25	+10% $6
Rent	-10% $-59	-5% $-8	+0% $43	+5% $94	+10% $145
Rate	-1.0pp $76	-0.5pp $60	base $43	+0.5pp $26	+1.0pp $9

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
9797 Leawood Blvd Houston, TX	2.0	2.0	1095	$1,175	$1.07	44d	2	0.04mi
9700 Leawood Blvd Houston, TX	1.0–2.0	1.0–2.0	776	$1,400	$1.80	44d	7	0.18mi
9700 Leawood Blvd Houston, TX	1.0–2.0	1.0–2.0	776	$1,400	$1.80	5d	5	0.18mi
9761 Court Glen Dr Unit 123 Houston, TX	2.0	2.0	929	$989	$1.06	25d	1	0.42mi
10300 S Wilcrest Dr Unit 10333 Houston, TX	3.0	2.0	1200	$1,313	$1.09	0d	1	0.43mi
10306 S Wilcrest Dr Houston, TX	3.0	2.0	1200	$1,349	$1.12	44d	1	0.47mi
10250 Lands End Dr Houston, TX	2.0	1.0–2.0	750	$1,399	$1.86	25d	16	0.47mi
11523 Glenwolde Dr Houston, TX	3.0	2.0	1189	$1,350	$1.14	44d	1	0.50mi
11715 S Glen Dr Houston, TX	1.0–2.0	1.0–2.0	796	$1,304	$1.64	0d	29	0.50mi
11735 S Glen Dr Houston, TX	1.0–2.0	1.0–2.0	853	$1,410	$1.65	3d	23	0.61mi
10440 South Dr Houston, TX	1.0–2.0	1.0–2.0	773	$1,340	$1.73	2d	27	0.74mi
10356 Lands End Dr Houston, TX	3.0	2.0	1133	$1,377	$1.22	44d	1	0.74mi
12023 Bissonnet St Unit 12056 Houston, TX	3.0	2.0	1179	$1,507	$1.28	0d	1	0.87mi
10925 Stancliff Rd Houston, TX	2.0	2.0	931	$1,425	$1.53	44d	1	0.90mi
9850 S Kirkwood Rd Houston, TX	1.0–2.0	1.0–2.0	736	$1,210	$1.64	20d	15	0.91mi
12023 Bissonnet St Houston, TX	1.0–2.0	1.0–2.0	753	$1,155	$1.53	44d	66	0.93mi
8606 S Course Dr Houston, TX	2.0	2.0	913	$1,050	$1.15	44d	1	1.00mi
10101 W Sam Houston Pkwy S Houston, TX	1.0–2.0	1.0–2.0	809	$1,145	$1.41	44d	1	1.01mi
10919 Stancliff Rd Unit 422 Houston, TX	2.0	2.0	931	$1,519	$1.63	8d	1	1.01mi
10919 Stancliff Rd Unit 3148 Houston, TX	3.0	2.0	1239	$1,883	$1.52	0d	1	1.01mi
10919 Stancliff Rd Unit 10952 Houston, TX	3.0	2.0	1346	$1,974	$1.47	44d	1	1.01mi
10919 Stancliff Rd Unit 3174 Houston, TX	3.0	2.0	1239	$1,934	$1.56	0d	1	1.01mi
10919 Stancliff Rd Unit 10976 Houston, TX	2.0	2.0	931	$1,544	$1.66	44d	1	1.01mi
10919 Stancliff Rd Unit 2174 Houston, TX	2.0	2.0	931	$1,543	$1.66	11d	1	1.01mi
10919 Stancliff Rd Unit 2162 Houston, TX	2.0	2.0	931	$1,519	$1.63	6d	1	1.01mi
10919 Stancliff Rd Unit 2112 Houston, TX	2.0	2.0	931	$1,503	$1.61	0d	1	1.01mi
10919 Stancliff Rd Unit 3047 Houston, TX	3.0	2.0	1239	$1,934	$1.56	12d	1	1.05mi
10919 Stancliff Rd Houston, TX	2.0	2.0	931	$1,529	$1.64	44d	1	1.05mi
8600 S Course Dr Houston, TX	1.0–2.0	1.0–2.0	706	$1,176	$1.66	0d	31	1.05mi
10286 Forum West Dr Houston, TX	2.0	2.0	1046	$1,200	$1.15	25d	1	1.06mi
9401 Coventry Square Dr Houston, TX	1.0–2.0	1.0–2.0	770	$1,389	$1.80	2d	9	1.07mi
10555 Spice Ln Houston, TX	1.0–3.0	1.0–2.0	937	$985	$1.05	0d	15	1.08mi
10225 Bissonnet St Houston, TX	1.0–2.0	1.0–2.5	992	$1,480	$1.49	0d	45	1.10mi
11399 S Kirkwood Rd Houston, TX	2.0	2.0	825	$1,299	$1.57	20d	1	1.12mi
14 W Sam Houston Pkwy S Houston, TX	2.0	2.0	1000	$1,054	$1.05	25d	1	1.13mi
9400 Coventry Square Dr Houston, TX	1.0–2.0	1.0–2.0	770	$1,205	$1.56	44d	6	1.13mi
9475 W Sam Houston Pkwy S Houston, TX	1.0–2.0	1.0–2.0	725	$1,284	$1.77	6d	18	1.15mi
10110 Forum Park Dr Houston, TX	1.0–2.0	1.0–2.0	976	$999	$1.02	44d	2	1.16mi
10615 Beechnut St Houston, TX	1.0–3.0	1.0–2.0	940	$972	$1.03	0d	15	1.17mi
8039 Boone Rd Houston, TX	1.0–3.0	1.0–2.5	938	$1,262	$1.35	14d	18	1.20mi

HOA detail condo

• Monthly dues: $373 · $4,476/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 5 events

1. 2026-06-01
   days on market $65,000 Active 60 DOM
2. 2026-05-31
   days on market $65,000 Active 59 DOM
3. 2026-04-02
   listed $65,000 Active 222-char remark

   Show marketing remark (222 chars)

   Home requires updating. It is structurally sound. Two bedrooms with a split plan. Second room can be turned to a primary bedroom. Wide and spacious plan. Bring your investor or buyers interested in finish up this one.

4. 2003-01-22
   soldstatus
5. 1988-10-05
   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: $2,041 · $170/mo
• Projected year-2 tax: $2,041 · $170/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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°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: $15,504
• − Mortgage interest: −$3,641
• − Property taxes: −$2,041
• − Insurance: −$1,122
• − Repairs & maintenance: −$1,240
• − Management: −$1,240
• − HOA: −$4,476
• − Depreciation: −$1,891
• Taxable loss: −$148
• Est. tax savings @ 24.0%: +$36
• After-tax cash flow: $554/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

3 events — show timeline

• 2026-04-02 Listed $65,000 HARMLS
• 2003-01-22 Sold (Public Records) — Public Records
• 1988-10-05 Sold (Public Records) — Public Records

Property tax history

+6.3%/yr

Latest (2025): $2,041 · -0.7% YoY. Source: county tax records.