10603 S Wilcrest Dr #15 · Houston, TX 77099

$70,000

2 bd · 1.0 ba · 870 sqft · Condo public records · 335 Days on market

Built 1978 $300/mo HOA · 26% 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 +20.4/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• 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

VERY CLEAN 2ND FLOOR CONDOMINIUM, ASSIGNED COVERED CAR PORCH, REFRIGERATOR AND STOVE IN PLACE AND RUNNING, NO CARPETS.

Key facts

• $300 HOA
• Built 1978
• Listed 334 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $24 ($293/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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); 145 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($484 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 $20k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 335 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 8135% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 26% of rent.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $61,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 335 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 7.85%
• Cash-on-cash: 5.56%
• DSCR: 1.25
• GRM: 5.0

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: 5.1%
• Equity multiple: 1.28×
• Total profit: $5,504
• Equity at exit: $30,061

10-year hold

• IRR: 5.9%
• Equity multiple: 1.79×
• Total profit: $15,452
• Equity at exit: $45,258

Cash invested: $19,600 (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.

Methodology + full state rankings →

ZIP-level market 77099

• Home prices YoY: 0.8%
• Rents YoY: -1.7%
• Active inventory: 145
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,169 high
• Mortgage (P&I): −$367
• Tax from tax record: −$136 /mo · $1,637/yr
• Insurance: −$29
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$300
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $24

Break-even live

Break-even rent $1,138

Max offer price $70,000

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10440 South Dr Houston, TX	1.0–2.0	1.0–2.0	773	$1,340	$1.73	1d	27	0.18mi
10300 S Wilcrest Dr Unit 10374 Houston, TX	1.0	1.0	650	$779	$1.20	12d	1	0.26mi
10300 S Wilcrest Dr Unit 10351 Houston, TX	1.0	1.0	650	$733	$1.13	12d	1	0.26mi
10300 S Wilcrest Dr Unit 10374 Houston, TX	1.0	1.0	650	$741	$1.14	3d	1	0.26mi
13 South Dr Houston, TX	1.0	1.0	588	$894	$1.52	43d	1	0.26mi
10925 Stancliff Rd Houston, TX	2.0	2.0	931	$1,425	$1.53	43d	1	0.48mi
10256 Lands End Dr Houston, TX	1.0	1.0	659	$929	$1.41	43d	1	0.50mi
10286 Forum West Dr Houston, TX	1.0	1.0	553	$830	$1.50	43d	1	0.54mi
10286 Forum West Dr Houston, TX	2.0	2.0	1046	$1,200	$1.15	24d	1	0.54mi
10286 Forum West Dr Houston, TX	1.0	1.0	553	$830	$1.50	19d	1	0.54mi
10250 Lands End Dr Houston, TX	2.0	1.0–2.0	750	$1,399	$1.86	24d	16	0.54mi
10919 Stancliff Rd Unit 422 Houston, TX	2.0	2.0	931	$1,519	$1.63	7d	1	0.55mi
10919 Stancliff Rd Unit 10934 Houston, TX	1.0	1.0	673	$1,303	$1.94	10d	1	0.55mi
10919 Stancliff Rd Unit 1162 Houston, TX	1.0	1.0	673	$1,264	$1.88	5d	1	0.55mi
10919 Stancliff Rd Unit 10940 Houston, TX	1.0	1.0	673	$1,299	$1.93	12d	1	0.55mi
10919 Stancliff Rd Unit 2174 Houston, TX	2.0	2.0	931	$1,543	$1.66	10d	1	0.55mi
10919 Stancliff Rd Unit 324 Houston, TX	1.0	1.0	673	$1,264	$1.88	7d	1	0.55mi
10919 Stancliff Rd Unit 10976 Houston, TX	2.0	2.0	931	$1,544	$1.66	43d	1	0.55mi
10919 Stancliff Rd Unit 2162 Houston, TX	2.0	2.0	931	$1,519	$1.63	5d	1	0.55mi
10919 Stancliff Rd Unit 2112 Houston, TX	2.0	2.0	931	$1,511	$1.62	3d	1	0.55mi
10919 Stancliff Rd Unit 1112 Houston, TX	1.0	1.0	673	$1,261	$1.87	3d	1	0.55mi
10919 Stancliff Rd Houston, TX	1.0	1.0	673	$1,253	$1.86	12d	1	0.58mi
10919 Stancliff Rd Houston, TX	2.0	2.0	931	$1,529	$1.64	43d	1	0.58mi
10101 W Sam Houston Pkwy S Houston, TX	1.0–2.0	1.0–2.0	809	$1,145	$1.41	43d	1	0.61mi
9797 Leawood Blvd Houston, TX	2.0	2.0	1095	$1,175	$1.07	43d	2	0.66mi
10110 Forum Park Dr Houston, TX	1.0–2.0	1.0–2.0	976	$999	$1.02	43d	2	0.73mi
10896 W Bellfort Ave Unit AASF Houston, TX	2.0	2.0	931	$1,529	$1.64	24d	1	0.74mi
10896 W Bellfort Ave Houston, TX	2.0	2.0	931	$1,529	$1.64	19d	1	0.74mi
10225 Bissonnet St Houston, TX	1.0–2.0	1.0–2.5	992	$1,480	$1.49	2d	49	0.78mi
9700 Leawood Blvd Houston, TX	1.0–2.0	1.0–2.0	776	$1,400	$1.80	4d	5	0.83mi
9700 Leawood Blvd Houston, TX	1.0–2.0	1.0–2.0	776	$1,400	$1.80	43d	7	0.83mi
9898 Forum Park Dr Unit 6406 Houston, TX	1.0	1.0	750	$925	$1.23	43d	1	0.88mi
10107 Forum Park Dr Houston, TX	1.0	1.0	550	$770	$1.40	43d	1	0.90mi
10107 Forum Park Dr Houston, TX	2.0	2.0	1100	$970	$0.88	24d	1	0.90mi
10107 Forum Park Dr Houston, TX	1.0	1.0	550	$770	$1.40	22d	1	0.90mi
10101 Forum Park Dr Houston, TX	1.0–2.0	1.0–2.0	825	$1,323	$1.60	2d	21	0.91mi
10009 Forum Park Dr Houston, TX	1.0	1.0	543	$819	$1.51	22d	1	0.94mi
10009 Forum Park Dr Houston, TX	1.0	1.0	543	$819	$1.51	43d	1	0.94mi
10009 Forum Park Dr Houston, TX	2.0	2.0	969	$979	$1.01	24d	1	0.94mi
9761 Court Glen Dr Unit 123 Houston, TX	1.0	1.0	593	$739	$1.25	43d	1	0.96mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-06-07
   days on market $70,000 Active 335 DOM
2. 2026-06-04
   days on market $70,000 Active 332 DOM
3. 2026-06-03
   days on market $70,000 Active 331 DOM
4. 2026-06-02
   days on market $70,000 Active 330 DOM
5. 2026-06-01
   days on market $70,000 Active 329 DOM
6. 2026-05-31
   days on market $70,000 Active 328 DOM
7. 2026-03-31
   historical $1,000
8. 2025-12-10
   price $1,000
9. 2025-10-25
   listed $850
10. 2025-10-24
    price $70,000 118-char remark

    Show marketing remark (118 chars)

    VERY CLEAN 2ND FLOOR CONDOMINIUM, ASSIGNED COVERED CAR PORCH, REFRIGERATOR AND STOVE IN PLACE AND RUNNING, NO CARPETS.

11. 2025-07-07
    listed $80,000 Active 118-char remark

    Show marketing remark (118 chars)

    VERY CLEAN 2ND FLOOR CONDOMINIUM, ASSIGNED COVERED CAR PORCH, REFRIGERATOR AND STOVE IN PLACE AND RUNNING, NO CARPETS.

12. 1999-11-22
    soldstatus
13. 1998-10-16
    soldstatus
14. 1998-10-16
    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: $1,637 · $136/mo
• Projected year-2 tax: $1,637 · $136/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 (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 21 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: $14,028
• − Mortgage interest: −$3,921
• − Property taxes: −$1,637
• − Insurance: −$1,148
• − Repairs & maintenance: −$1,122
• − Management: −$1,122
• − HOA: −$3,600
• − Depreciation: −$2,036
• Taxable loss: −$558
• Est. tax savings @ 24.0%: +$134
• After-tax cash flow: $427/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

-98.8% since first listed

8 events — show timeline

• 2026-03-31 Rental Removed $1,000 HARMLS
• 2025-12-10 Price Changed $1,000 HARMLS
• 2025-10-25 Listed for Rent $850 HARMLS
• 2025-10-24 Price Changed $70,000 HARMLS
• 2025-07-07 Listed $80,000 HARMLS
• 1999-11-22 Sold (Public Records) — Public Records
• 1998-10-16 Sold (Public Records) — Public Records
• 1998-10-16 Sold (Public Records) — Public Records

Property tax history

+10.0%/yr

Latest (2025): $1,637 · -0.7% YoY. Source: county tax records.