515 Southwest Pkwy #103 · College Station, TX 77840

$199,000

4 bd · 4.0 ba · 1,236 sqft · Condo public records · 50 Days on market

Built 1999 $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 +7.5/15.0
• 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

Attention Investors/Aggie Parents! Beautiful 4-bed 4-bath first-floor Condo located in University Place, conveniently situated on the Texas A & M bus route and Mins away from Texas A & M campus. This unit features spacious bedrooms with private bathrooms and walk-in closets. Updated granite counter tops in kitchen and each bathroom. Newer carpets in two bedrooms while the main living area and the other two bedrooms offer durable laminate wood flooring. Enjoy the covered patio with additional storage place. New Carrie HVAC, digital thermometer, ceiling fans in 2024, new Garbage disposal in 2025. Community Amenities including a Pool, hot tub and BBQ grill. . Move in ready now! (This unit is also available for lease)

Key facts

• Private bathrooms
• First-floor condo
• Walk-in closets

Tags

• FIRST-FLOOR CONDO
• PRIVATE BATHROOMS
• WALK-IN CLOSETS
• GRANITE COUNTER TOPS
• COVERED PATIO
• ADDITIONAL STORAGE

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 21d 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 50 days — a 3% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y 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 50 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 1.02% ✓
• Cap rate: 5.39%
• Cash-on-cash: -3.24%
• DSCR: 0.86
• GRM: 8.1

CMA / ARV

No comps found within radius.

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	13d	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	43d	2	0.05mi
521 Southwest Pkwy #303 College Station, TX	4.0	4.0	1236	$460	$0.37	13d	1	0.07mi
700 Chalet Ct College Station, TX	3.0	1.5	1120	$1,600	$1.43	43d	1	0.22mi
301 Southwest Pkwy College Station, TX	4.0	4.0–4.5	1538	$2,200	$1.43	43d	2	0.28mi
1109 Phoenix St College Station, TX	3.0	1.5	1160	$1,650	$1.42	43d	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	13d	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	13d	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	13d	2	0.78mi
1198 Jones Butler Rd College Station, TX	1.0–4.0	1.5–4.5	1425	$2,600	$1.82	43d	3	0.78mi
701 Balcones Dr Unit 51 College Station, TX	3.0	2.0	1235	$1,375	$1.11	43d	1	0.85mi
1200 Village Dr College Station, TX	3.0	2.0	1443	$1,750	$1.21	13d	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	13d	1	0.97mi
1600 Southwest Pkwy College Station, TX	1.0–3.0	1.0–2.5	1005	$1,500	$1.49	13d	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	43d	5	1.20mi
1326 Airline Dr College Station, TX	3.0	2.0	1119	$1,450	$1.30	43d	1	1.23mi
1218 Haley Pl College Station, TX	3.0	2.0	1418	$2,195	$1.55	13d	1	1.37mi
511 Fraternity Row College Station, TX	3.0	2.0	1278	$1,800	$1.41	43d	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	43d	1	1.49mi

HOA detail condo

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

Listing history 30 events

1. 2026-06-10
   statusdays on market $199,000 Active 50 DOM
2. 2026-06-09
   statusdays on market $199,000 Pending 49 DOM
3. 2026-06-08
   days on market $199,000 Active 48 DOM
4. 2026-06-07
   days on market $199,000 Active 47 DOM
5. 2026-06-05
   days on market $199,000 Active 44 DOM
6. 2026-06-02
   days on market $199,000 Active 42 DOM
7. 2026-06-01
   days on market $199,000 Active 41 DOM
8. 2026-05-31
   days on market $199,000 Active 40 DOM
9. 2026-05-30
   days on market $199,000 Active 39 DOM
10. 2026-05-06
    historical $1,700
11. 2026-04-30
    status Active 732-char remark

    Show marketing remark (732 chars)

    Attention Investors/Aggie Parents! Beautiful 4-bed 4-bath first-floor Condo located in University Place, conveniently situated on the Texas A & M bus route and Mins away from Texas A & M campus. This unit features spacious bedrooms with private bathrooms and walk-in closets. Updated granite counter tops in kitchen and each bathroom. Newer carpets in two bedrooms while the main living area and the other two bedrooms offer durable laminate wood flooring. Enjoy the covered patio with additional storage place. New Carrie HVAC, digital thermometer, ceiling fans in 2024, new Garbage disposal in 2025. Community Amenities including a Pool, hot tub and BBQ grill. . Move in ready now! (This unit is also available for lease)

12. 2026-04-23
    status Pending 732-char remark

    Show marketing remark (732 chars)

    Attention Investors/Aggie Parents! Beautiful 4-bed 4-bath first-floor Condo located in University Place, conveniently situated on the Texas A & M bus route and Mins away from Texas A & M campus. This unit features spacious bedrooms with private bathrooms and walk-in closets. Updated granite counter tops in kitchen and each bathroom. Newer carpets in two bedrooms while the main living area and the other two bedrooms offer durable laminate wood flooring. Enjoy the covered patio with additional storage place. New Carrie HVAC, digital thermometer, ceiling fans in 2024, new Garbage disposal in 2025. Community Amenities including a Pool, hot tub and BBQ grill. . Move in ready now! (This unit is also available for lease)

13. 2026-04-14
    listed $199,000 Active 732-char remark

    Show marketing remark (732 chars)

    Attention Investors/Aggie Parents! Beautiful 4-bed 4-bath first-floor Condo located in University Place, conveniently situated on the Texas A & M bus route and Mins away from Texas A & M campus. This unit features spacious bedrooms with private bathrooms and walk-in closets. Updated granite counter tops in kitchen and each bathroom. Newer carpets in two bedrooms while the main living area and the other two bedrooms offer durable laminate wood flooring. Enjoy the covered patio with additional storage place. New Carrie HVAC, digital thermometer, ceiling fans in 2024, new Garbage disposal in 2025. Community Amenities including a Pool, hot tub and BBQ grill. . Move in ready now! (This unit is also available for lease)

14. 2026-03-12
    price $199,000
15. 2026-03-06
    listed $1,750
16. 2026-01-14
    listed $209,000 Active
17. 2024-01-09
    soldstatus
18. 2024-01-08
    soldstatus Closed
19. 2024-01-08
    soldstatus Sold
20. 2024-01-02
    status Pending
21. 2023-12-26
    status Option Pending
22. 2023-12-26
    status Pending
23. 2023-12-18
    listed $185,000 Active
24. 2023-12-15
    historical
25. 2023-12-14
    listed $185,000 Active
26. 2018-04-05
    soldstatus
27. 2018-04-05
    soldstatus
28. 2017-10-20
    listed $133,000
29. 2006-03-08
    soldstatus
30. 2004-11-05
    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

-98.7% since first listed

21 events — show timeline

• 2026-05-06 Rental Removed $1,700 BCSRMLS
• 2026-04-30 Relisted — BCSRMLS
• 2026-04-23 Pending — BCSRMLS
• 2026-04-14 Listed $199,000 BCSRMLS
• 2026-03-12 Price Changed $199,000 BCSRMLS
• 2026-03-06 Listed for Rent $1,750 BCSRMLS
• 2026-01-14 Listed $209,000 BCSRMLS
• 2024-01-09 Sold (Public Records) — Public Records
• 2024-01-08 Sold (MLS) — HARMLS
• 2024-01-08 Sold (MLS) — BCSRMLS
• 2024-01-02 Pending — HARMLS
• 2023-12-26 Pending — HARMLS
• 2023-12-26 Pending — BCSRMLS
• 2023-12-18 Listed $185,000 HARMLS
• 2023-12-15 Rental Removed — HARMLS
• 2023-12-14 Listed $185,000 BCSRMLS
• 2018-04-05 Sold (Public Records) — Public Records
• 2018-04-05 Sold (MLS) — BCSRMLS
• 2017-10-20 Listed $133,000 BCSRMLS
• 2006-03-08 Sold (Public Records) — Public Records
• 2004-11-05 Sold (Public Records) — Public Records

Property tax history

+4.9%/yr

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