517 Southwest Pkwy #204 · College Station, TX 77840

$199,000

4 bd · 4.0 ba · 1,236 sqft · Condo public records · 71 Days on market

Built 1999 $161/sqft · at area comps Est $194k · at est. $310/mo HOA · 15% 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 +9.2/30.0
• ARV discount +6.4/15.0
• 1% rule +5.2/10.0
• Schools +4.7/10.0
• Livability +4.2/5.0
• Rent growth +4.1/5.0
• DSCR +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to University Place Condos — the ultimate student living opportunity in the heart of College Station! This spacious second-floor 4-bedroom, 4-bath condo offers the ideal roommate-friendly layout, with each bedroom featuring its own private bathroom and full-entry closet for maximum comfort and privacy. With 1,236 square feet of thoughtfully designed space, the open-concept living area is perfect for study sessions, movie nights, and game day gatherings. Step outside onto your private patio, a peaceful retreat just minutes from campus life. Community amenities include a sparkling swimming pool, basketball court, and BBQ areas, plus convenient access to the Aggie bus route for easy transportation to campus. Whether you're looking for a smart investment property, housing for your student, or a low-maintenance place to call home, this vacant and move-in-ready condo checks every box. Schedule your private tour today!

Key facts

• Full-entry closet
• Private patio
• Basketball court

Tags

• PRIVATE BATHROOM
• FULL-ENTRY CLOSET
• OPEN-CONCEPT LIVING AREA
• PRIVATE PATIO
• SPARKLING SWIMMING POOL
• BASKETBALL COURT

What this means for you Summary

Snapshot

• This is a 4-bed/4.0-bath condo listed at $199k.

Deal economics

• At list price, monthly cash flow is $-150 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (13.3% below list).
• Meets the 1% rule at list price ($2k rent vs $199k).
• Recommended offer: $172k (13.3% below list) — sets the bar for cash-flow.
• Cap rate 5.4% vs local median 3.3% in College Station — 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 83/100 on livability (#11 in TX, #994 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, crime A-; Watch: employment C-.
• College Station ISD (urban): math 58% / reading 54% proficiency, ranked #113 of 826 in TX (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising fast (+6.2%/yr); 305 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 2,211 units permitted in Brazos County in 2024 (768 in 5+ unit buildings).
• At $2,039/mo this rent would consume 81% of the median local household income ($30k/yr) (locally 8224% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Brazos County population projected at +55% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 71 days — a 6% lower offer ($187k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 13y 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.

Recommended offer $172,458 (13.3% 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 71 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
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: 1.02% ✓
• Cap rate: 5.39%
• Cash-on-cash: -3.24%
• DSCR: 0.86
• GRM: 8.1

CMA / ARV

• ARV (median comp): $194,148
• List price: $199,000
• Delta: 2.50%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.24% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.38×
• Total profit: $-34,684
• Equity at exit: $29,672

10-year hold

• IRR: -2.6%
• Equity multiple: 0.80×
• Total profit: $-11,327
• Equity at exit: $17,206

Cash invested: $55,720 (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 77840

• Rents YoY: 6.2%
• Active inventory: 305
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,039 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$325 /mo · $3,899/yr
• Insurance: −$83
• HOA: −$310
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $-150

Break-even live

Break-even rent $2,230

Max offer price $172,458

Occupancy floor —

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
515 Southwest Pkwy College Station, TX	1.0–4.0	1.0–4.0	1236	$1,960	$1.59	21d	1	0.03mi
529 Southwest Pkwy College Station, TX	1.0–4.0	1.0–4.0	1218	$1,750	$1.44	14d	1	0.04mi
527 Southwest Pkwy #103 College Station, TX	4.0	4.0	1236	$2,800	$2.27	21d	1	0.05mi
527 Southwest Pkwy College Station, TX	4.0	4.0	1236	$1,625	$1.31	44d	2	0.05mi
521 Southwest Pkwy #303 College Station, TX	4.0	4.0	1236	$460	$0.37	14d	1	0.07mi
700 Chalet Ct College Station, TX	3.0	1.5	1120	$1,600	$1.43	44d	1	0.22mi
301 Southwest Pkwy College Station, TX	4.0	4.0–4.5	1538	$2,200	$1.43	44d	2	0.28mi
1109 Phoenix St College Station, TX	3.0	1.5	1160	$1,650	$1.42	44d	1	0.30mi
602 Townplace Dr Unit 1328092P College Station, TX	3.0	3.0	1291	$3,348	$2.59	21d	1	0.33mi
1198 Jones-Butler Rd Unit 1 College Station, TX	3.0	3.0	1272	$2,100	$1.65	14d	1	0.71mi
2001 Holleman Dr W College Station, TX	1.0–4.0	1.0–4.0	981	$1,234	$1.26	21d	10	0.72mi
800 Marion Pugh Dr College Station, TX	1.0–5.0	1.0–5.5	1226	$1,222	$1.00	14d	20	0.72mi
1302 Laura Ln College Station, TX	3.0	2.0	1460	$1,825	$1.25	21d	1	0.72mi
1198 Jones Butler Rd College Station, TX	2.0–4.0	2.0–4.5	1425	$2,600	$1.82	14d	2	0.78mi
1198 Jones Butler Rd College Station, TX	1.0–4.0	1.5–4.5	1425	$2,600	$1.82	44d	3	0.78mi
701 Balcones Dr Unit 51 College Station, TX	3.0	2.0	1235	$1,375	$1.11	44d	1	0.85mi
1200 Village Dr College Station, TX	3.0	2.0	1443	$1,750	$1.21	14d	1	0.85mi
1200 Village Dr College Station, TX	3.0	2.0	1443	$1,750	$1.21	21d	1	0.85mi
2310 Pronghorn Ln College Station, TX	3.0	2.0	1350	$1,550	$1.15	14d	1	0.97mi
1600 Southwest Pkwy College Station, TX	1.0–3.0	1.0–2.5	1005	$1,500	$1.49	14d	21	1.08mi
2300 Cottage Ln College Station, TX	2.0–5.0	2.0–5.0	1333	$1,143	$0.86	13d	33	1.19mi
1601 Holleman Dr College Station, TX	1.0–3.0	1.0–2.0	888	$1,650	$1.86	44d	5	1.20mi
1326 Airline Dr College Station, TX	3.0	2.0	1119	$1,450	$1.30	44d	1	1.23mi
1218 Haley Pl College Station, TX	3.0	2.0	1418	$2,195	$1.55	14d	1	1.37mi
511 Fraternity Row College Station, TX	3.0	2.0	1278	$1,800	$1.41	44d	1	1.44mi
2330 Autumn Chase Loop Unit B College Station, TX	3.0	3.0	1364	$1,650	$1.21	21d	1	1.48mi
3011 Towers Pkwy College Station, TX	3.0	3.0	1271	$1,895	$1.49	44d	1	1.49mi

HOA detail condo

• Monthly dues: $310 · $3,720/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-05-11
   status Pending 939-char remark

   Show marketing remark (939 chars)

   Welcome to University Place Condos — the ultimate student living opportunity in the heart of College Station! This spacious second-floor 4-bedroom, 4-bath condo offers the ideal roommate-friendly layout, with each bedroom featuring its own private bathroom and full-entry closet for maximum comfort and privacy. With 1,236 square feet of thoughtfully designed space, the open-concept living area is perfect for study sessions, movie nights, and game day gatherings. Step outside onto your private patio, a peaceful retreat just minutes from campus life. Community amenities include a sparkling swimming pool, basketball court, and BBQ areas, plus convenient access to the Aggie bus route for easy transportation to campus. Whether you're looking for a smart investment property, housing for your student, or a low-maintenance place to call home, this vacant and move-in-ready condo checks every box. Schedule your private tour today!

2. 2026-05-04
   status Pending 939-char remark

   Show marketing remark (939 chars)

   Welcome to University Place Condos — the ultimate student living opportunity in the heart of College Station! This spacious second-floor 4-bedroom, 4-bath condo offers the ideal roommate-friendly layout, with each bedroom featuring its own private bathroom and full-entry closet for maximum comfort and privacy. With 1,236 square feet of thoughtfully designed space, the open-concept living area is perfect for study sessions, movie nights, and game day gatherings. Step outside onto your private patio, a peaceful retreat just minutes from campus life. Community amenities include a sparkling swimming pool, basketball court, and BBQ areas, plus convenient access to the Aggie bus route for easy transportation to campus. Whether you're looking for a smart investment property, housing for your student, or a low-maintenance place to call home, this vacant and move-in-ready condo checks every box. Schedule your private tour today!

3. 2026-03-01
   listed $199,000 Active 939-char remark

   Show marketing remark (939 chars)

   Welcome to University Place Condos — the ultimate student living opportunity in the heart of College Station! This spacious second-floor 4-bedroom, 4-bath condo offers the ideal roommate-friendly layout, with each bedroom featuring its own private bathroom and full-entry closet for maximum comfort and privacy. With 1,236 square feet of thoughtfully designed space, the open-concept living area is perfect for study sessions, movie nights, and game day gatherings. Step outside onto your private patio, a peaceful retreat just minutes from campus life. Community amenities include a sparkling swimming pool, basketball court, and BBQ areas, plus convenient access to the Aggie bus route for easy transportation to campus. Whether you're looking for a smart investment property, housing for your student, or a low-maintenance place to call home, this vacant and move-in-ready condo checks every box. Schedule your private tour today!

4. 2021-08-24
   soldstatus
5. 2017-01-05
   soldstatus
6. 2014-01-23
   soldstatus
7. 2014-01-21
   soldstatus 658-char remark

   Show marketing remark (658 chars)

   Attention, Aggie Parents! Beautifully updated condo, Unit #204 is all on the second floor with wood look vinyl flooring in the common areas, all bathrooms and one bedroom. Carpet is in three remaining bedrooms. A/C unit was replaced August 2012, which dropped the electric bill by at least $100 a month! The fridge, microwave, garbage disposal and washing machine have all been replaced within the last four years that these owners have had it. A couple of the ceiling fans have been replaced, as well. The entire inside of the condo has been repainted including the Texas A & M mural on the living room wall! Get in the spirit and come tour this beauty!

8. 2013-06-05
   listed $105,500 658-char remark

   Show marketing remark (658 chars)

   Attention, Aggie Parents! Beautifully updated condo, Unit #204 is all on the second floor with wood look vinyl flooring in the common areas, all bathrooms and one bedroom. Carpet is in three remaining bedrooms. A/C unit was replaced August 2012, which dropped the electric bill by at least $100 a month! The fridge, microwave, garbage disposal and washing machine have all been replaced within the last four years that these owners have had it. A couple of the ceiling fans have been replaced, as well. The entire inside of the condo has been repainted including the Texas A & M mural on the living room wall! Get in the spirit and come tour this beauty!

9. 2009-06-24
   soldstatus
10. 2005-08-31
    soldstatus
11. 2005-06-10
    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: $3,899 · $325/mo
• Projected year-2 tax: $3,899 · $325/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $24,473
• − Mortgage interest: −$11,147
• − Property taxes: −$3,899
• − Insurance: −$995
• − Repairs & maintenance: −$1,958
• − Management: −$1,958
• − HOA: −$3,720
• − Depreciation: −$5,789
• Taxable loss: −$4,993
• Est. tax savings @ 24.0%: +$1,198
• After-tax cash flow: $-605/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: College Station ISD
• NCES district ID: 4807350
• Math proficiency: 58% ▼ -4.00%
• Reading proficiency: 54% ▼ -2.00%
• Median HH income: $36,991
• Composite: 46.54/100
• National rank: #2428
• State rank: #113 of 826 in TX

Livability — College Station

• Score: 83/100
• State rank: #11
• US rank: #994

Category grades

Amenities A+ Commute A+ Cost of living A- Crime A- Employment C- Housing A- Health & safety B User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: College Station, TX
• County: Brazos County · 233,400 people
• City population: 131,628
• Metro: College Station-Bryan, TX
• Population (ZIP): 54,864
• Household income: $30,377
• Rent vs Own: 89.7% rent · 10.3% own
• Severe rent burden: 8224.0

Population outlook (Brazos County) Hauer SSP2

• Today (2025): 267,942 people
• By 2030: 296,630 · +10.7%
• By 2040: 354,560 · +32.3%
• By 2050: 414,616 · +54.7%
• By 2075: 562,158 · +109.8%
• By 2100: 678,828 · +153.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 55% Hispanic / Latino 20% Two or more races 11% Black 11% Asian 9%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Romanian 2% Lithuanian 2% Italian 2%
• Foreign-born: 14% · Canada, China, South Korea
• Languages at home: 77% English-only · Spanish 12% Other Indo-European 3% Chinese 2%

Political lean MEDSL · Brazos

• 2024 margin: Strong R (+24.9) · D 36.9% · R 61.7% · Other 1.4%
• 2008→2024 swing: +4.1pp toward D · 2008: -28.9pp · 2024: -24.9pp
• All cycles: 2024: R+24.9 2020: R+14.3 2016: R+23.7 2012: R+35.3 2008: R+28.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -155.15%
• Current HPI: 195.2885
• Rent YoY: ▲ 6.24%
• Metro: College Station-Bryan, 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

+88.6% since first listed

11 events — show timeline

• 2026-05-11 Pending — HARMLS
• 2026-05-04 Pending — HARMLS
• 2026-03-01 Listed $199,000 HARMLS
• 2021-08-24 Sold (Public Records) — Public Records
• 2017-01-05 Sold (Public Records) — Public Records
• 2014-01-23 Sold (Public Records) — Public Records
• 2014-01-21 Sold (MLS) — BCSRMLS
• 2013-06-05 Listed $105,500 BCSRMLS
• 2009-06-24 Sold (Public Records) — Public Records
• 2005-08-31 Sold (Public Records) — Public Records
• 2005-06-10 Sold (Public Records) — Public Records

Property tax history

+4.9%/yr

Latest (2025): $3,899 · +8.0% YoY. Source: county tax records.