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12603 Telge Rd Unit 8E-H Fourplex
D+ Composite 49.03
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 +15.1/30.0
  • ARV discount +9.8/15.0
  • Schools +5.1/10.0
  • Condition / age +4.8/5.0
  • 1% rule +4.7/10.0
  • DSCR +4.6/10.0
  • Rent growth +2.5/5.0
  • Livability +2.5/5.0
  • Appreciation +0.0/10.0

$795,000

12603 Telge Rd Unit 8E-H · Cypress, TX 77429
12 bd · 10.0 ba · 6,780 sqft · MultiFamily · 87 Days on market
Built 2020 Excellent condition 2,940 sqft lot Garage $117/sqft · 5% below area Est $838k · 5% under $330/mo HOA · 17% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks

Newer Fourplex - Fully leased. Ready for your 1031 exchange. Starwood Farms is located in the high growth area of Northwest Houston in Cypress Texas. This neighborhood of luxury townhomes is conveniently located less than five miles from major employers, highly rated schools, shopping and an extensive highway system. Great rental units as the tenants can step out the door and enjoy the beautiful park like setting with great neighborhood amenities (pool, playground, zipline, dog park and walking trails). Each unit features a covered patio, 3 beds, 2.5 baths, gourmet kitchen, smart home system & private garage.

Key facts

  • Luxury townhomes
  • Gourmet kitchen
  • Covered patio

Tags

LUXURY TOWNHOMESBEAUTIFUL PARK LIKE SETTINGGREAT NEIGHBORHOOD AMENITIESCOVERED PATIOGOURMET KITCHENSMART HOME SYSTEM

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi
Loading POIs…

What this means for you Summary

Snapshot

  • This is a 4 × 3.0-bed/2.5-bath units multifamily listed at $795k. Condition is rated excellent.

Deal economics

  • At list price, monthly cash flow is $256 ($3k/yr) — positive. Per door: $64/mo.
  • The deal already cash-flows at list — no discount required.
  • To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $770k (3.2% below list).
  • Recommended offer: $747k (6.0% below list) — sets the bar for market timing.
  • Cap rate 6.7% vs local median 2.8% in Cypress — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
  • Cypress-Fairbanks ISD (suburban): math 45% / reading 52% proficiency, ranked #161 of 826 in TX (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
  • Zoned schools: Lamkin El (math 31% / reading 42%, grade F, #1,883 of 4,322 statewide, top 44%, 893 students, 69% FRL); Arnold Middle (math 48% / reading 52%, grade C, #347 of 1,662 statewide, top 21%, 1,414 students, 67% FRL); Cypress-Fairbanks J J A E P (12 students, 0% FRL) — zoned schools at 45% FRL track the district average.
  • Market conditions: 805 active listings in the ZIP; high-income renter base; 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 $5k of loan paydown is wiped out by about $24k 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 87 days — a 6% lower offer ($747k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

  • Climate carrying-cost: 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 $747,300 (6.0% below list)

Questions for the listing agent

  1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
  2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
  3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
  4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
  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. 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?
  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
0.97%
Cap rate
6.68%
Cash-on-cash
1.38%
DSCR
1.06
GRM
8.6

CMA / ARV

ARV (median comp)
$838,402
List price
$795,000
Delta
-5.18%
Verdict
FAIR
Comps
16 within 1.0 mi
Show comp detail 5 sales within ~0.75 mi
Address Dist Beds/Ba Sqft Sold Price $/sf Match
12603 Telge Rd Unit 8 I-L 0.12mi 12/8.0 6,780 (0%) 5mo $799,000 $118 82
12603 Telge Rd Unit 19 E-H 0.14mi 12/12.0 6,780 (0%) 16mo $790,000 $117 72
12603 Telge Rd Unit 18 A-D 0.12mi 12/12.0 6,780 (0%) 19mo $840,000 $124 71
12603 Telge Rd Unit 18 E-H 0.12mi 12/12.0 6,780 (0%) 19mo $840,000 $124 71
12603 Telge Rd Unit 11A-D 0.01mi 12/2.0 6,780 (0%) 40mo $840,000 $124 60

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold
IRR
-14.1%
Equity multiple
0.50×
Total profit
$-112,215
Equity at exit
$118,537
10-year hold
IRR
-5.2%
Equity multiple
0.66×
Total profit
$-75,443
Equity at exit
$68,737

Cash invested: $222,600 (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.
Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now
3 active
Months of supply
18.0 mo (6%/mo absorbed)
Median asking
$750,000 ($111/sqft)
Median days on market
79 d
This list price
67% of active listings are priced below it
ARV vs active asking
+11.3% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77429

Active inventory
805
Price-to-rent
34.4×

Monthly cashflow live

Estimated rent
$7,696 high interval (Pro) →
Mortgage (P&I)
$4,169
Tax est. 1.5%
$994 /mo · $11,925/yr
Insurance
$331
HOA
$330
Vacancy / Maint / Mgmt
$1,616
Net cashflow
$256

4-unit breakdown (identical units grouped — click to expand)

UnitsBedsBathsEst. rent
Total (4 units) $7,696

Break-even live

Break-even rent $7,372
Max offer price $795,000
Occupancy floor 92%

Sensitivity live

Price -10% $805 -5% $530 +0% $256 +5% $-19 +10% $-294
Rent -10% $-352 -5% $-48 +0% $256 +5% $560 +10% $864
Rate -1.0pp $656 -0.5pp $458 base $256 +0.5pp $50 +1.0pp $-160

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
$198,750
Closing costs
$23,850
Reserves months
Total cash needed

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested
Monthly P&I
Monthly cashflow
DSCR
Eligible?

Short-term bridge; refi at stabilization.

Rent comps 40 comps

AddressBedsBaths SqftRent$/sqft DOM Units Dist
12603 Telge Rd Cypress, TX 3.0 2.5–3.0 1695 $1,938 $1.14 92d 6 0.03mi
12807 Telge Rd Cypress, TX 1.0–2.0 1.0–2.0 1014 $2,226 $2.19 0d 31 0.33mi
12610 Pine Bough Ln Cypress, TX 4.0 2.5 2239 $2,016 $0.90 4d 1 0.34mi
12841 Telge Rd Cypress, TX 2.0 2.0 1085 $1,474 $1.36 92d 1 0.46mi
12500 Barker Cypress Rd Unit 3174 Cypress, TX 3.0 2.0 1376 $2,122 $1.54 23d 1 1.11mi
12500 Barker Cypress Rd Unit 3228 Cypress, TX 3.0 2.0 1353 $2,103 $1.55 1d 1 1.11mi
12500 Barker Cypress Rd Unit 2228 Cypress, TX 2.0 2.0 1127 $1,629 $1.45 1d 1 1.11mi
12500 Barker Cypress Rd Unit 209 Cypress, TX 2.0 2.0 1127 $1,583 $1.40 0d 1 1.11mi
12500 Barker Cypress Rd Unit 306 Cypress, TX 3.0 2.0 1353 $2,057 $1.52 0d 1 1.11mi
12500 Barker Cypress Rd Unit 12533 Cypress, TX 3.0 2.0 1376 $2,071 $1.51 24d 1 1.11mi
12500 Barker Cypress Rd Unit 3174 Cypress, TX 3.0 2.0 1376 $2,122 $1.54 31d 1 1.11mi
12500 Barker Cypress Rd Unit 510 Cypress, TX 3.0 2.0 1354 $1,691 $1.25 34d 1 1.11mi
14210 Galvani Dr Cypress, TX 4.0 2.0 1554 $1,895 $1.22 29d 1 1.21mi
12411 Huffmeister Rd Cypress, TX 1.0–3.0 1.0–2.0 1049 $2,145 $2.04 1d 4 1.28mi
11518 Amber Canyon Dr Houston, TX 4.0 2.0 2230 $2,300 $1.03 92d 1 1.29mi
13611 Ravensway Dr Unit B Cypress, TX 2.0 2.0 1100 $1,200 $1.09 7d 1 1.31mi
12515 Barker Cypress Rd Unit 12552 Cypress, TX 2.0 2.0 1093 $1,613 $1.48 24d 1 1.35mi
12515 Barker Cypress Rd Unit 12548 Cypress, TX 3.0 2.0 1433 $2,054 $1.43 24d 1 1.35mi
12515 Barker Cypress Rd Unit 3112 Cypress, TX 3.0 2.0 1433 $2,100 $1.47 1d 1 1.35mi
12515 Barker Cypress Rd Unit 306 Cypress, TX 3.0 2.0 1433 $2,054 $1.43 0d 1 1.35mi
12515 Barker Cypress Rd Unit 306 Cypress, TX 3.0 2.0 1433 $2,070 $1.44 32d 1 1.35mi
12515 Barker Cypress Rd Unit 2228 Cypress, TX 2.0 2.0 1093 $1,664 $1.52 31d 1 1.35mi
12515 Barker Cypress Rd Unit 2228 Cypress, TX 2.0 2.0 1093 $1,664 $1.52 23d 1 1.35mi
12515 Barker Cypress Rd Unit 3174 Cypress, TX 3.0 2.0 1433 $2,094 $1.46 59d 1 1.35mi
12515 Barker Cypress Rd Unit 3228 Cypress, TX 3.0 2.0 1433 $2,054 $1.43 31d 1 1.35mi
12515 Barker Cypress Rd Unit 2174 Cypress, TX 2.0 2.0 1093 $1,664 $1.52 19d 1 1.35mi
12515 Barker Cypress Rd Unit 510 Cypress, TX 3.0 2.0 1433 $2,070 $1.44 34d 1 1.35mi
12515 Barker Cypress Rd Unit 424 Cypress, TX 2.0 2.0 1093 $1,629 $1.49 54d 1 1.35mi
12515 Barker Cypress Rd Unit 2174 Cypress, TX 2.0 2.0 1093 $1,653 $1.51 59d 1 1.35mi
12515 Barker Cypress Rd Unit 3174 Cypress, TX 3.0 2.0 1433 $2,105 $1.47 23d 1 1.35mi
12515 Barker Cypress Rd Unit 2112 Cypress, TX 2.0 2.0 1093 $1,659 $1.52 1d 1 1.35mi
12515 Barker Cypress Rd Unit 209 Cypress, TX 2.0 2.0 1093 $1,613 $1.48 0d 1 1.35mi
12515 Barker Cypress Rd Unit 422 Cypress, TX 2.0 2.0 1093 $1,629 $1.49 56d 1 1.35mi
12515 Barker Cypress Rd Unit 209 Cypress, TX 2.0 2.0 1093 $1,629 $1.49 32d 1 1.35mi
12035 Huffmeister Rd Unit 306 Cypress, TX 3.0 2.0 1225 $1,679 $1.37 0d 1 1.39mi
12035 Huffmeister Rd Unit 3112 Cypress, TX 3.0 2.0 1225 $1,679 $1.37 31d 1 1.39mi
12035 Huffmeister Rd Unit 306 Cypress, TX 3.0 2.0 1225 $1,695 $1.38 32d 1 1.39mi
12035 Huffmeister Rd Unit 3228 Cypress, TX 3.0 2.0 1225 $1,725 $1.41 1d 1 1.39mi
12035 Huffmeister Rd Unit 3174 Cypress, TX 3.0 2.0 1225 $1,679 $1.37 24d 1 1.39mi
12035 Huffmeister Rd Unit 12068 Cypress, TX 3.0 2.0 1225 $1,955 $1.60 92d 1 1.39mi

Property features AI

Finance

Other
Association/community pool and playground
Financial info
Property configured as a 4-unit building (total of 4 units)
HOA & community
Starwood Farms HOAMonthly association feeAssociation amenities include dog park, maintained grounds, picnic area, playground, pool, trash service, and gated accessAssociation fee covers common areas, structure maintenance, recreation facilities, sewer, trash, and water

Exterior

Parking
Garage with garage door opener
Security
Security gateOwned security systemFire alarm
Utilities
Electricity availableWater available
Home design
Residential income propertyFaces south
Construction
Built in 2020Cement siding and stone exteriorComposition roof
Exterior features
PatioPrivate entranceCommunity/association pool

Interior

Kitchen
DishwasherDisposalMicrowaveRefrigerator
Bedrooms
Unit(s) with 3 bedrooms (one unit type listed)
Flooring
VinylCarpet
Bathrooms
2 full bathrooms
Heating & cooling
Central heating (electric)Central air (electric)HVAC energy-efficient
Interior features
Laminate countersPrivate entrance
Laundry & utility
Washer hookupDryer hookup

HOA detail $330/mo · $3,960/yr

Likely covers
pool

Listing history 50 events

  1. 2026-08-08
    days on market $795,000 Active 87 DOM
  2. 2026-08-06
    days on market $795,000 Active 85 DOM
  3. 2026-08-05
    days on market $795,000 Active 84 DOM
  4. 2026-08-04
    days on market $795,000 Active 83 DOM
  5. 2026-08-03
    days on market $795,000 Active 82 DOM
  6. 2026-07-31
    days on market $795,000 Active 79 DOM
  7. 2026-07-30
    days on market $795,000 Active 78 DOM
  8. 2026-07-30
    days on market $795,000 Active 77 DOM
  9. 2026-07-28
    days on market $795,000 Active 76 DOM
  10. 2026-07-26
    days on market $795,000 Active 74 DOM
  11. 2026-07-24
    days on market $795,000 Active 72 DOM
  12. 2026-07-23
    days on market $795,000 Active 71 DOM
  13. 2026-07-22
    days on market $795,000 Active 70 DOM
  14. 2026-07-21
    days on market $795,000 Active 69 DOM
  15. 2026-07-20
    days on market $795,000 Active 68 DOM
  16. 2026-07-18
    days on market $795,000 Active 66 DOM
  17. 2026-07-18
    days on market $795,000 Active 65 DOM
  18. 2026-07-16
    days on market $795,000 Active 64 DOM
  19. 2026-07-15
    days on market $795,000 Active 63 DOM
  20. 2026-07-14
    days on market $795,000 Active 62 DOM
  21. 2026-07-13
    days on market $795,000 Active 61 DOM
  22. 2026-07-13
    days on market $795,000 Active 60 DOM
  23. 2026-07-11
    days on market $795,000 Active 59 DOM
  24. 2026-07-10
    days on market $795,000 Active 58 DOM
  25. 2026-07-09
    days on market $795,000 Active 57 DOM
  26. 2026-07-07
    days on market $795,000 Active 55 DOM
  27. 2026-07-06
    days on market $795,000 Active 54 DOM
  28. 2026-07-06
    days on market $795,000 Active 53 DOM
  29. 2026-07-05
    days on market $795,000 Active 52 DOM
  30. 2026-07-03
    days on market $795,000 Active 51 DOM
  31. 2026-07-02
    days on market $795,000 Active 50 DOM
  32. 2026-07-01
    days on market $795,000 Active 49 DOM
  33. 2026-06-30
    days on market $795,000 Active 48 DOM
  34. 2026-06-29
    days on market $795,000 Active 47 DOM
  35. 2026-06-28
    days on market $795,000 Active 46 DOM
  36. 2026-06-27
    days on market $795,000 Active 45 DOM
  37. 2026-06-26
    days on market $795,000 Active 44 DOM
  38. 2026-06-24
    days on market $795,000 Active 42 DOM
  39. 2026-06-22
    days on market $795,000 Active 40 DOM
  40. 2026-06-21
    days on market $795,000 Active 39 DOM
  41. 2026-06-18
    days on market $795,000 Active 36 DOM
  42. 2026-06-17
    days on market $795,000 Active 35 DOM
  43. 2026-06-16
    days on market $795,000 Active 34 DOM
  44. 2026-06-15
    days on market $795,000 Active 33 DOM
  45. 2026-06-13
    days on market $795,000 Active 31 DOM
  46. 2026-06-13
    days on market $795,000 Active 30 DOM
  47. 2026-06-09
    days on market $795,000 Active 27 DOM
  48. 2026-06-08
    days on market $795,000 Active 26 DOM
  49. 2026-06-07
    days on market $795,000 Active 25 DOM
  50. 2026-06-04
    days on market $795,000 Active 22 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

  • 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
  • 🔥 Wildfire 4/10 Moderate
  • 🌡 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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income
$92,352
− Mortgage interest
−$44,532
− Property taxes
−$11,925
− Insurance
−$3,975
− Repairs & maintenance
−$7,388
− Management
−$7,388
− HOA
−$3,960
− Depreciation
−$23,127
Taxable loss
−$9,944
combined federal + state — saved on this device
Est. tax savings @ 24.0%
+$2,387
After-tax cash flow
$5,456/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.

Condition & rehab AI · 12 photos

Excellent 95/100 None rehab

This fourplex is in excellent condition with no visible repairs needed. It is fully leased and ready for your 1031 exchange. The smart home system and landscaping improvements would significantly increase its value.

Value-add opportunities

  • Both Smart home system — Enhances convenience and energy efficiency
  • Both Landscaping improvements — Enhances curb appeal and property value
  • Both Painting exterior — Enhances curb appeal and property value
D Composite school gradezoned avg 51/100

Zoned Schools

Elementary Lamkin El F TX #1,883/4,322 Nat'l #22,441/41,679 Middle Arnold Middle C TX #347/1,662 Nat'l #3,460/14,009 High Cy-Fair H S B TX #186/1,632 Nat'l #2,657/17,239

Schools (NCES district)

District
Cypress-Fairbanks ISD
NCES district ID
4816110
Math proficiency
45% ▼ -12.00%
Reading proficiency
52% ▼ -2.00%
Median HH income
$72,025
Composite
43.63/100
National rank
#2968
State rank
#161 of 826 in TX

Livability — Cypress

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

County
Harris County · 5,571,493 people
City population
212,884
Metro
Houston-The Woodlands-Sugar Land, TX
Population (ZIP)
96,334
Household income
$119,191
Rent vs Own
18.8% rent · 81.2% own
Severe rent burden
11% of renters

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
White 52% Hispanic / Latino 23% Two or more races 15% Black 11% Asian 10%
Hispanic origin (detail)
Mexican 16%
Common ancestry
Romanian 3% Lithuanian 2% Italian 2%
Foreign-born
17% · Canada, Vietnam, Jamaica
Languages at home
73% English-only · Spanish 14% Other Indo-European 3% Vietnamese 3%

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

Price history

1 event — show timeline
  • 2026-05-13 Listed $795,000 HARMLS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…