9797 Leawood Blvd #302 · Houston, TX 77099

$74,900

2 bd · 2.0 ba · 1,068 sqft · Condo public records · 16 Days on market

Built 1983 $70/sqft · 12% below area Est $85k · 12% under $376/mo HOA · 29% of rent ↓ 13% since listing

---

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 +18.1/30.0
• ARV discount +13.0/15.0
• 1% rule +10.0/10.0
• Appreciation +6.3/10.0
• DSCR +5.7/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +2.1/10.0

Listing remarks

Nice two bedroom condo; upper unit. Has one assigned covered space in an exclusive part of this community. Has additional parking spaces in the parking lot. Home has a split plan with rooms on opposite ends. Property is in good shape and ready for occupation.

Key facts

• Split plan
• Upper unit
• Exclusive part

Tags

• UPPER UNIT
• ASSIGNED COVERED SPACE
• EXCLUSIVE PART
• ADDITIONAL PARKING SPACES
• SPLIT PLAN

Property features AI

Finance

• Other: Seller disclosure available
• Financial info: Lease not considered
• HOA & community: Monthly association fee ($376) with Stella Mgmt; Association includes maintenance of structure; Community pool; Association provides security

Exterior

• Parking: Carport; Assigned parking; Additional parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; 2 stories; Built in 1983; Slab foundation; Composition roof
• Construction: Brick construction
• Exterior features: Fenced yard; Concrete road access

Interior

• Kitchen: Dishwasher; Electric range; Garbage disposal
• Bedrooms: 2 bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Pantry; One fireplace
• Laundry & utility: Washer; Dryer; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $-1 ($-12/yr) — negative.
• To cash-flow at today's rent, offer at most $75k (0.2% below list).
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: 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.
• Zoned schools: Olle Middle (math 16% / reading 32%, grade F, #1,301 of 1,662 statewide, top 79%, 1,067 students, 90% FRL) — zoned schools average 90% FRL vs 74% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-1.7%/yr); 145 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 ($518 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.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 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 $73,776 (1.5% 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. 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: 1.73% ✓
• Cap rate: 7.34%
• Cash-on-cash: 3.75%
• DSCR: 1.17
• GRM: 4.8

CMA / ARV

• ARV (median comp): $85,231
• List price: $74,900
• Delta: 0.78%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.6%
• Equity multiple: 1.19×
• Total profit: $4,079
• Equity at exit: $32,166

10-year hold

• IRR: 4.4%
• Equity multiple: 1.59×
• Total profit: $12,415
• Equity at exit: $48,426

Cash invested: $20,972 (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: 145
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,293 high
• Mortgage (P&I): −$393
• Tax from tax record: −$156 /mo · $1,868/yr
• Insurance: −$31
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$376
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $-1

Break-even live

Break-even rent $1,294

Max offer price $74,724

Occupancy floor 95%

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: $18,725
• Closing costs: $2,247
• 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	43d	2	0.04mi
9700 Leawood Blvd Houston, TX	1.0–2.0	1.0–2.0	776	$1,400	$1.80	3d	5	0.18mi
9700 Leawood Blvd Houston, TX	1.0–2.0	1.0–2.0	776	$1,400	$1.80	43d	7	0.18mi
9761 Court Glen Dr Unit 123 Houston, TX	2.0	2.0	929	$989	$1.06	24d	1	0.42mi
10300 S Wilcrest Dr Unit 10333 Houston, TX	3.0	2.0	1200	$1,321	$1.10	2d	1	0.43mi
10306 S Wilcrest Dr Houston, TX	3.0	2.0	1200	$1,349	$1.12	43d	1	0.47mi
10250 Lands End Dr Houston, TX	2.0	1.0–2.0	750	$1,399	$1.86	24d	16	0.47mi
11523 Glenwolde Dr Houston, TX	3.0	2.0	1189	$1,350	$1.14	43d	1	0.50mi
11715 S Glen Dr Houston, TX	1.0–2.0	1.0–2.0	796	$1,294	$1.63	1d	29	0.50mi
11735 S Glen Dr Houston, TX	1.0–2.0	1.0–2.0	853	$1,410	$1.65	2d	23	0.61mi
10440 South Dr Houston, TX	1.0–2.0	1.0–2.0	773	$1,340	$1.73	1d	27	0.74mi
10356 Lands End Dr Houston, TX	3.0	2.0	1133	$1,377	$1.22	43d	1	0.74mi
12023 Bissonnet St Unit 12056 Houston, TX	3.0	2.0	1179	$1,515	$1.28	2d	1	0.87mi
10925 Stancliff Rd Houston, TX	2.0	2.0	931	$1,425	$1.53	43d	1	0.90mi
9850 S Kirkwood Rd Houston, TX	1.0–2.0	1.0–2.0	736	$1,210	$1.64	19d	15	0.91mi
12023 Bissonnet St Houston, TX	1.0–2.0	1.0–2.0	753	$1,155	$1.53	43d	66	0.93mi
8606 S Course Dr Houston, TX	2.0	2.0	913	$1,050	$1.15	43d	1	1.00mi
10101 W Sam Houston Pkwy S Houston, TX	1.0–2.0	1.0–2.0	809	$1,145	$1.41	43d	1	1.01mi
10919 Stancliff Rd Unit 10952 Houston, TX	3.0	2.0	1346	$1,974	$1.47	43d	1	1.01mi
10919 Stancliff Rd Unit 3148 Houston, TX	3.0	2.0	1239	$1,891	$1.53	2d	1	1.01mi
10919 Stancliff Rd Unit 10976 Houston, TX	2.0	2.0	931	$1,544	$1.66	43d	1	1.01mi
10919 Stancliff Rd Unit 2174 Houston, TX	2.0	2.0	931	$1,543	$1.66	10d	1	1.01mi
10919 Stancliff Rd Unit 2112 Houston, TX	2.0	2.0	931	$1,511	$1.62	2d	1	1.01mi
10919 Stancliff Rd Unit 2162 Houston, TX	2.0	2.0	931	$1,519	$1.63	5d	1	1.01mi
10919 Stancliff Rd Unit 422 Houston, TX	2.0	2.0	931	$1,519	$1.63	7d	1	1.01mi
10919 Stancliff Rd Unit 3174 Houston, TX	3.0	2.0	1239	$1,923	$1.55	10d	1	1.01mi
10919 Stancliff Rd Unit 3047 Houston, TX	3.0	2.0	1239	$1,934	$1.56	10d	1	1.05mi
10919 Stancliff Rd Houston, TX	2.0	2.0	931	$1,529	$1.64	43d	1	1.05mi
8600 S Course Dr Houston, TX	1.0–2.0	1.0–2.0	706	$1,218	$1.72	1d	31	1.05mi
10286 Forum West Dr Houston, TX	2.0	2.0	1046	$1,200	$1.15	24d	1	1.06mi
9401 Coventry Square Dr Houston, TX	1.0–2.0	1.0–2.0	770	$1,389	$1.80	1d	9	1.07mi
10555 Spice Ln Houston, TX	1.0–3.0	1.0–2.0	937	$985	$1.05	1d	16	1.08mi
10225 Bissonnet St Houston, TX	1.0–2.0	1.0–2.5	992	$1,480	$1.49	1d	49	1.10mi
11399 S Kirkwood Rd Houston, TX	2.0	2.0	825	$1,299	$1.57	18d	1	1.12mi
14 W Sam Houston Pkwy S Houston, TX	2.0	2.0	1000	$1,054	$1.05	24d	1	1.13mi
9400 Coventry Square Dr Houston, TX	1.0–2.0	1.0–2.0	770	$1,205	$1.56	43d	6	1.13mi
9475 W Sam Houston Pkwy S Houston, TX	1.0–2.0	1.0–2.0	725	$1,284	$1.77	5d	18	1.15mi
10110 Forum Park Dr Houston, TX	1.0–2.0	1.0–2.0	976	$999	$1.02	43d	2	1.16mi
10615 Beechnut St Houston, TX	1.0–3.0	1.0–2.0	940	$972	$1.03	2d	16	1.17mi
8039 Boone Rd Houston, TX	1.0–3.0	1.0–2.5	938	$1,262	$1.35	12d	18	1.20mi

HOA detail condo

• Monthly dues: $376 · $4,512/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-18
   days on market $74,900 Active 16 DOM
2. 2026-06-17
   days on market $74,900 Active 15 DOM
3. 2026-06-16
   days on market $74,900 Active 14 DOM
4. 2026-06-15
   days on market $74,900 Active 13 DOM
5. 2026-06-13
   days on market $74,900 Active 11 DOM
6. 2026-06-09
   days on market $74,900 Active 7 DOM
7. 2026-06-08
   days on market $74,900 Active 6 DOM
8. 2026-06-07
   days on market $74,900 Active 5 DOM
9. 2026-06-04
   days on market $74,900 Active 2 DOM
10. 2026-06-02
    pricestatusdays on marketlisting id $74,900 Active 1 DOM
11. 2026-05-14
    historical
12. 2026-04-02
    listed $85,900 Active
13. 2003-07-17
    soldstatus
14. 1999-04-09
    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: $1,868 · $156/mo
• Projected year-2 tax: $1,868 · $156/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: $15,511
• − Mortgage interest: −$4,196
• − Property taxes: −$1,868
• − Insurance: −$1,172
• − Repairs & maintenance: −$1,241
• − Management: −$1,241
• − HOA: −$4,512
• − Depreciation: −$2,179
• Taxable loss: −$897
• Est. tax savings @ 24.0%: +$215
• After-tax cash flow: $203/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

-12.8% since first listed

5 events — show timeline

• 2026-06-02 Listed $74,900 HARMLS
• 2026-05-14 Listing Removed — HARMLS
• 2026-04-02 Listed $85,900 HARMLS
• 2003-07-17 Sold (Public Records) — Public Records
• 1999-04-09 Sold (Public Records) — Public Records

Property tax history

+9.5%/yr

Latest (2025): $1,868 · +0.6% YoY. Source: county tax records.