781 Country Place Dr #2004 · Houston, TX 77079

$100,000

2 bd · 2.5 ba · 1,490 sqft · Condo public records · 2 Days on market

Built 1974 $464/mo HOA · 28% 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 +19.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Priced to sell and a great deal for a buyer or investor! 2 bedroom 2 bath unit 2 levels with bedrooms located upstairs. In a gated community in nice area off Memorial Drive. Split floor plan with both full baths upstairs next to bedrooms. Carpeting in good condition upstairs, pretty tile downstairs. Refrigerator included. Wood burning fireplace in living room. Both A/C units replaced in 2022. Roof replacement and exterior HOA's responsibility. HOA fee includes water and trash pickup. Nice storage room off of front patio area. Easy access to Interstate 10 and Memorial Dr. Close to Stratford HS.

Key facts

• Gated community
• Storage room
• $464 HOA

Tags

• GATED COMMUNITY
• WOOD BURNING FIREPLACE
• STORAGE ROOM
• EASY ACCESS TO INTERSTATE 10

Property features AI

Finance

• Other: Community features include curbs
• HOA & community: Association: CG Property Solutions; Monthly association fee; Association amenities include controlled access, gated entry, and trash service; Association fee covers common areas, structure maintenance, sewer, trash and water

Exterior

• Parking: Carport; Additional parking; Assigned parking; Underground parking; Electric gate; Controlled entrance
• Security: Security gate; Controlled access; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; 2 stories; Built in 1974; Slab foundation; Composition roof; Concrete road surface
• Construction: Cement siding
• Exterior features: Partial fencing; Storage; Fence

Interior

• Kitchen: Electric oven / electric range; Oven; Dishwasher; Disposal; Refrigerator; Laminate counters
• Bedrooms: Primary bedroom on second level (10 x 16); Second bedroom on second level (12 x 17)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air (electric); Has heating and cooling
• Interior features: High ceilings; Vaulted ceilings; Kitchen/dining combo; Tub with shower; Window treatments; Window coverings; Programmable thermostat; Water softener (owned); Free-standing wood-burning fireplace
• Laundry & utility: Washer and dryer included; Laundry in utility room

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $39 ($474/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Cap rate 7.6% 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.
• Spring Branch ISD (urban): math 47% / reading 46% proficiency, ranked #215 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Meadow Wood El (math 63% / reading 61%, grade B, #321 of 4,322 statewide, top 8%, 657 students, 28% FRL); Spring Forest Middle (math 39% / reading 44%, grade F, #595 of 1,662 statewide, top 37%, 962 students, 56% FRL); Stratford H S (math 52% / reading 59%, grade C, #364 of 1,632 statewide, top 23%, 2,272 students, 33% FRL) — zoned schools average 39% FRL vs 54% district-wide (15 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: Rents soft (-0.8%/yr); 235 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); solid renter incomes; 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 $691 of loan paydown is wiped out by about $3k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 26y 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: flood insurance adds $66/mo; HOA is 28% of rent.
• Climate carrying-cost: severe flood risk; 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 $100,000

Questions for the listing agent

1. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.67% ✓
• Cap rate: 7.56%
• Cash-on-cash: 4.54%
• DSCR: 1.20
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.35×
• Total profit: $-18,197
• Equity at exit: $14,910

10-year hold

• IRR: -34.0%
• Equity multiple: -0.07×
• Total profit: $-29,949
• Equity at exit: $8,646

Cash invested: $28,000 (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 77079

• Rents YoY: -0.8%
• Active inventory: 235
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,670 high
• Mortgage (P&I): −$524
• Tax from tax record: −$183 /mo · $2,199/yr
• Insurance: −$42
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$464
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $39

Break-even live

Break-even rent $1,620

Max offer price $100,000

Occupancy floor 93%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14401 Mackilsee Ln Houston, TX	2.0	2.0	1081	$2,121	$1.96	11d	1	0.05mi
801 Country Place Dr Unit 2165 Houston, TX	2.0	2.0	975	$1,292	$1.33	3d	1	0.19mi
801 Country Place Dr Unit 2047 Houston, TX	2.0	2.0	975	$1,335	$1.37	11d	1	0.19mi
801 Country Place Dr Unit 3047 Houston, TX	3.0	2.0	1161	$1,565	$1.35	11d	1	0.19mi
801 Country Place Dr Unit 525 Houston, TX	3.0	2.0	1161	$1,522	$1.31	3d	1	0.19mi
801 Country Place Dr Unit 2162 Houston, TX	2.0	2.0	975	$1,300	$1.33	5d	1	0.19mi
801 Country Place Dr Unit 834 Houston, TX	3.0	2.0	1161	$1,554	$1.34	10d	1	0.19mi
801 Country Place Dr Unit 858 Houston, TX	2.0	2.0	975	$1,324	$1.36	10d	1	0.19mi
681 Dairy Ashford Rd Houston, TX	3.0	2.0	1492	$1,886	$1.26	43d	1	0.36mi
681 Dairy Ashford Rd Houston, TX	3.0	2.0	1492	$1,886	$1.26	22d	1	0.36mi
777 Bateswood Dr Houston, TX	2.0	1.5–2.0	1488	$1,459	$0.98	5d	4	0.49mi
14759 Perthshire Rd Houston, TX	2.0	1.0	1272	$1,925	$1.51	24d	1	0.51mi
738 Bateswood Dr Houston, TX	1.0–3.0	1.0–2.0	1010	$1,179	$1.17	20d	12	0.51mi
14800 Memorial Dr Houston, TX	1.0–3.0	1.5–3.0	1368	$3,038	$2.22	10d	21	0.65mi
14800 Memorial Dr Houston, TX	1.0–3.0	1.5–3.0	1371	$2,945	$2.15	1d	14	0.65mi
14553 Still Meadow Dr Houston, TX	2.0	2.5	1264	$1,900	$1.50	18d	1	0.65mi
600 Nottingham Oaks Trl Houston, TX	1.0–2.0	1.0–2.0	883	$1,325	$1.50	5d	14	0.67mi
14814 Perthshire Rd Houston, TX	2.0–4.0	1.0–2.5	1381	$1,250	$0.90	2d	81	0.69mi
14806 Memorial Dr Houston, TX	3.0	3.0	1565	$2,750	$1.76	43d	1	0.69mi
14900 Memorial Dr Unit 14937 Houston, TX	2.0	2.0	1097	$1,914	$1.74	43d	1	0.80mi
14900 Memorial Dr Unit 2174 Houston, TX	2.0	2.0	1097	$1,864	$1.70	10d	1	0.80mi
14900 Memorial Dr Apt 425 Houston, TX	2.0	2.0	1097	$1,832	$1.67	3d	1	0.80mi
14900 Memorial Dr Apt 424 Houston, TX	2.0	2.0	1097	$1,840	$1.68	5d	1	0.80mi
14855 Memorial Dr Houston, TX	1.0–2.0	1.0–2.0	1098	$2,040	$1.86	1d	29	0.81mi
14906 Memorial Dr Houston, TX	2.0	2.0	1129	$1,669	$1.48	43d	1	0.82mi
14861 Memorial Dr Houston, TX	2.0	2.0	1100	$1,579	$1.44	43d	1	0.84mi
857 Threadneedle St Houston, TX	2.0	2.0	961	$1,470	$1.53	24d	1	0.87mi
898 Threadneedle St Houston, TX	2.0	2.0	1194	$1,933	$1.62	19d	1	0.88mi
1200 Dairy Ashford Rd Houston, TX	1.0–2.0	1.0–2.0	974	$1,851	$1.90	2d	30	0.90mi
851 Threadneedle St Apt 509 Houston, TX	2.0	2.0	961	$1,390	$1.45	24d	1	0.91mi
851 Threadneedle St Apt 1206 Houston, TX	2.0	2.0	967	$1,417	$1.47	24d	1	0.91mi
851 Threadneedle St Apt 1206 Houston, TX	2.0	2.0	967	$1,417	$1.47	43d	1	0.91mi
1200 S Dairy Ashford Rd Houston, TX	1.0–2.0	1.0–2.0	1000	$1,572	$1.57	2d	13	0.99mi
770 N Eldridge Pkwy Houston, TX	1.0–3.0	1.0–2.0	1099	$1,965	$1.79	2d	19	1.01mi
1414 S Dairy Ashford Rd Houston, TX	1.0–2.0	1.0–2.0	875	$1,840	$2.10	16d	15	1.07mi
632 N Eldridge Pkwy Unit 1258 Houston, TX	2.0	2.0	1305	$1,685	$1.29	43d	1	1.08mi
632 N Eldridge Pkwy Unit 1442 Houston, TX	2.0	2.0	1444	$2,002	$1.39	43d	1	1.08mi
632 N Eldridge Pkwy Unit 1251 Houston, TX	1.0	1.0	902	$1,488	$1.65	43d	1	1.08mi
776 N Eldridge Pkwy Houston, TX	2.0	2.0	1242	$1,909	$1.54	43d	1	1.09mi
13800 Myrtlea Dr Houston, TX	2.0	2.0	1075	$1,355	$1.26	11d	1	1.11mi

HOA detail condo

• Monthly dues: $464 · $5,568/yr
• Likely covers: watertrashsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-18
   days on market $100,000 Active 2 DOM
2. 2026-06-17
   remarks 602-char remark
3. 2026-06-17
   listed $100,000 Active 1 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: $2,199 · $183/mo
• Projected year-2 tax: $2,199 · $183/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 (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°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: $20,040
• − Mortgage interest: −$5,602
• − Property taxes: −$2,199
• − Insurance: −$1,298
• − Repairs & maintenance: −$1,603
• − Management: −$1,603
• − HOA: −$5,568
• − Depreciation: −$2,909
• Taxable loss: −$742
• Est. tax savings @ 24.0%: +$178
• After-tax cash flow: $652/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: Spring Branch ISD
• NCES district ID: 4841100
• Math proficiency: 47% ▼ -4.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $60,311
• Composite: 40.88/100
• National rank: #3624
• State rank: #215 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): 37,276
• Household income: $101,995
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 1811.0

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 0.64)
• Race & ethnicity: White 55% Hispanic / Latino 20% Two or more races 15% Black 13% Asian 8%
• Hispanic origin (detail): Mexican 10% Cuban 1%
• Common ancestry: Lithuanian 4% Slovak 2% Italian 2%
• Foreign-born: 25% · Canada, Jamaica, China
• Languages at home: 69% English-only · Spanish 15% Other Indo-European 5% Chinese 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: ▼ -316.55%
• Current HPI: 286.7958
• Rent YoY: ▼ -0.80%
• 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

+239.0% since first listed

8 events — show timeline

• 2026-06-16 Listed $100,000 HARMLS
• 2025-12-15 Rental Removed $1,425 HARMLS
• 2025-12-15 Listing Removed — HARMLS
• 2025-10-12 Listed for Rent $1,425 HARMLS
• 2025-09-26 Listed $116,000 HARMLS
• 2000-09-03 Listing Removed — HARMLS
• 2000-08-25 Listed $29,500 HARMLS
• 1992-04-15 Sold (Public Records) — Public Records

Property tax history

+8.1%/yr

Latest (2025): $2,199 · -8.4% YoY. Source: county tax records.