12119 Lemon Ridge Ln #121 · Houston, TX 77035

$99,000

2 bd · 2.0 ba · 1,244 sqft · Townhouse public records · 9 Days on market

Built 1980 1,121 sqft lot Est $127k · 22% under

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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 +18.9/30.0
• ARV discount +15.0/15.0
• 1% rule +6.7/10.0
• DSCR +6.0/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming 2-bedroom, 2-bathroom townhouse in the Cattails subdivision has been beautifully updated and is ready for new owners. Situated in a contemporary/modern style, the home features tile and wood stairs, fresh paint, new showers, granite countertops, new lights, a new hot water heater, new cabinets, new appliances, ceiling fans, and solar screens. The master bedroom is conveniently located on the first floor, with the second bedroom, a loft, and a bath upstairs. With a spacious living room, dining room, and additional extra room, there's plenty of space to enjoy. Located in the Brays Oaks market area, this property offers easy access to nearby amenities and is just minutes away from Anderson Elementary, Fondren Middle School, and Westbury High School. This is a rare find in a desirable location! Call us now to schedule your private tour.

Key facts

• Parking
• Built 1980
• Listed 9 days

Property features AI

Finance

• HOA & community: Managed by Marshall Management

Exterior

• Parking: Assigned parking
• Utilities: Public water
• Home design: Residential property; 2 stories; Built in 1980; Slab foundation
• Construction: Vinyl siding construction; Composition roof; Slab foundation; Built in 1980
• Exterior features: Composition roof; Vinyl siding; Lot about 1,121 square feet

Interior

• Kitchen: Kitchen on the first floor (14x14)
• Bedrooms: Primary bedroom on the first floor (11x11); Bedroom on the first floor (10x10)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: One fireplace; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $99k.

Deal economics

• At list price, monthly cash flow is $102 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 7.5% 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.
• Houston ISD (urban): math 27% / reading 35% proficiency, ranked #593 of 826 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Fondren Middle (math 13% / reading 20%, grade F, #1,536 of 1,662 statewide, top 93%, 840 students, 99% FRL); Westbury H S (math 19% / reading 31%, grade F, #1,250 of 1,632 statewide, top 77%, 2,243 students, 92% FRL) — zoned schools average 95% FRL vs 71% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 199 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $684 of loan paydown is wiped out by about $3k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 10y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.17% ✓
• Cap rate: 7.53%
• Cash-on-cash: 4.43%
• DSCR: 1.20
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $126,888
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12111 Lemon Ridge Ln #121	0.01mi	2/2.0	1,196 (-4%)	4mo	$129,900	$109	89
6317 Peacock Hills Dr	0.07mi	3/2.0 (+1)	1,244 (0%)	3mo	$130,000	$105	89
11963 Bob White #854	0.24mi	2/2.0	1,252 (+1%)	1mo	$127,500	$102	87
11889 Bob White Dr Unit 10-829	0.24mi	2/2.5	1,232 (-1%)	4mo	$125,000	$101	82
11983 Bob White Dr Unit 17-852	0.22mi	3/2.0 (+1)	1,320 (+6%)	4mo	$130,000	$98	72
6383 Dryad Dr #638	0.05mi	3/2.0 (+1)	1,096 (-12%)	1mo	$133,999	$122	72
6239 Ludington Dr Unit 22-928	0.28mi	3/2.0 (+1)	1,320 (+6%)	3mo	$124,900	$95	69
6191 Ludington Dr #903	0.28mi	3/2.0 (+1)	1,320 (+6%)	3mo	$110,000	$83	69
12500 Sandpiper Dr #204	0.36mi	2/2.0	1,140 (-8%)	1mo	$60,000	$53	69
6327 Southwood Ct N	0.14mi	2/1.0	1,102 (-11%)	4mo	$149,900	$136	67
14600 Fonmeadow Dr #702	0.55mi	2/2.5	1,342 (+8%)	3mo	$75,000	$56	57
14550 Fonmeadow Dr #1406	0.51mi	1/1.0 (-1)	1,057 (-15%)	1mo	$120,000	$114	42

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 · 0.02% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.54×
• Total profit: $-12,793
• Equity at exit: $14,761

10-year hold

• IRR: -10.9%
• Equity multiple: 0.45×
• Total profit: $-15,359
• Equity at exit: $8,560

Cash invested: $27,720 (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 77035

• Rents YoY: 0.0%
• Active inventory: 199
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,154 high
• Mortgage (P&I): −$519
• Tax from tax record: −$249 /mo · $2,989/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $102

Break-even live

Break-even rent $1,025

Max offer price $99,000

Occupancy floor 86%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6392 Peacock Hills Dr Houston, TX	2.0	2.0	1244	$1,400	$1.13	43d	1	0.05mi
6319 Southwood Ct N Houston, TX	3.0	1.0	1102	$1,450	$1.32	43d	1	0.14mi
12245 Sunset Meadow Ln Houston, TX	3.0	2.0	1257	$1,515	$1.21	43d	1	0.14mi
12247 Sunset Meadow Ln Houston, TX	1.0–3.0	1.0–2.0	990	$1,392	$1.41	3d	1	0.16mi
6363 W Airport Blvd Houston, TX	2.0	1.0–2.0	744	$985	$1.32	7d	1	0.19mi
6363 W Airport Blvd Apt 1823 Houston, TX	2.0	1.0	875	$790	$0.90	43d	1	0.24mi
6363 W Airport Blvd Apt 2123 Houston, TX	2.0	1.0	794	$695	$0.88	43d	1	0.24mi
6363 W Airport Blvd Unit 2224 Houston, TX	2.0	2.0	1033	$985	$0.95	17d	1	0.24mi
6363 W Airport Blvd Unit 528 Houston, TX	1.0	1.0	728	$650	$0.89	17d	1	0.24mi
6363 W Airport Blvd Apt 721 Houston, TX	2.0	1.0	940	$875	$0.93	43d	1	0.24mi
6363 W Airport Blvd Unit 622 Houston, TX	2.0	2.0	946	$974	$1.03	17d	1	0.24mi
12261 Fondren Rd Houston, TX	2.0	2.0	1066	$1,200	$1.13	43d	1	0.31mi
12351 Bob White Dr Houston, TX	2.0	2.0	1000	$987	$0.99	13d	1	0.32mi
12351 Bob White Dr Houston, TX	2.0	2.0	1000	$987	$0.99	43d	1	0.32mi
6633 W Airport Blvd Houston, TX	1.0–2.0	1.5–2.0	1063	$1,200	$1.13	43d	2	0.36mi
12211 Fondren Rd Houston, TX	1.0–2.0	1.0–2.0	817	$1,249	$1.53	2d	20	0.37mi
12500 Sandpiper Dr Houston, TX	2.0	1.0–2.0	1018	$1,094	$1.07	43d	6	0.37mi
12107 Fondren Rd Houston, TX	2.0	2.0	990	$1,125	$1.14	24d	1	0.39mi
12271 Fondren Rd Houston, TX	2.0	2.0	1007	$1,050	$1.04	22d	1	0.39mi
12271 Fondren Rd Houston, TX	2.0	2.0	1007	$1,050	$1.04	18d	1	0.39mi
12101 Fondren Rd Houston, TX	1.0–2.0	1.0–2.0	790	$1,198	$1.52	43d	23	0.40mi
12500 Dunlap St Houston, TX	1.0–3.0	1.0–2.0	907	$970	$1.07	2d	57	0.53mi
14550 Fonmeadow Dr Houston, TX	1.0–2.0	1.0–2.0	1057	$1,350	$1.28	43d	2	0.54mi
20 Alvarado Dr Houston, TX	2.0	2.0	938	$997	$1.06	43d	1	0.60mi
20 Alvarado Dr Houston, TX	2.0	2.0	938	$997	$1.06	20d	1	0.60mi
7700 W Airport Blvd Unit 7757 Houston, TX	2.0	2.0	1005	$1,232	$1.23	14d	1	0.66mi
7706 W Airport Blvd Houston, TX	2.0	1.0	875	$1,080	$1.23	43d	1	0.67mi
1024 Sandpiper Dr Houston, TX	1.0	1.0	711	$910	$1.28	43d	1	0.80mi
6 Sandpiper Dr Houston, TX	2.0	2.0	960	$1,094	$1.14	18d	1	0.81mi
6 Sandpiper Dr Houston, TX	3.0	2.0	993	$1,225	$1.23	43d	1	0.81mi
6 Sandpiper Dr Houston, TX	2.0	2.0	960	$1,094	$1.14	22d	1	0.81mi
6 Sandpiper Dr Houston, TX	3.0	2.0	993	$1,225	$1.23	12d	1	0.81mi
12800 Dunlap St Houston, TX	1.0–3.0	1.0–2.0	851	$1,012	$1.19	1d	62	0.96mi
7809 Wolfield Ln Houston, TX	2.0	2.0	1208	$1,390	$1.15	43d	1	1.00mi
10925 Fondren Rd Houston, TX	1.0	1.0	700	$874	$1.25	43d	1	1.07mi
10919 Fondren Rd Houston, TX	2.0	2.0	1250	$1,400	$1.12	43d	1	1.09mi
10919 Fondren Rd Unit 10952 Houston, TX	3.0	2.0	1287	$1,307	$1.02	3d	1	1.10mi
10919 Fondren Rd Apt 422 Houston, TX	2.0	2.0	920	$1,035	$1.12	7d	1	1.10mi
8030 W Airport Blvd Houston, TX	1.0–2.0	1.0–2.0	780	$1,044	$1.34	1d	31	1.13mi
6425 Bankside Dr Houston, TX	1.0	1.0	734	$970	$1.32	3d	1	1.13mi

Listing history 8 events

1. 2026-06-18
   days on market $99,000 Active 9 DOM
2. 2026-06-17
   price $99,000 Active 8 DOM
3. 2026-06-17
   days on market $105,000 Active 8 DOM
4. 2026-06-16
   days on market $105,000 Active 7 DOM
5. 2026-06-15
   days on market $105,000 Active 6 DOM
6. 2026-06-13
   days on market $105,000 Active 4 DOM
7. 2026-06-10
   remarks 534-char remark
8. 2026-06-10
   listed $105,000 Active 1 DOM

ⓘ 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: $2,989 · $249/mo
• Projected year-2 tax: $2,989 · $249/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 3/10 Moderate FEMA zone X (shaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,850
• − Mortgage interest: −$5,546
• − Property taxes: −$2,989
• − Insurance: −$495
• − Repairs & maintenance: −$1,108
• − Management: −$1,108
• − Depreciation: −$2,880
• Taxable loss: −$276
• Est. tax savings @ 24.0%: +$66
• After-tax cash flow: $1,294/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: Houston ISD
• NCES district ID: 4823640
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $46,054
• Composite: 26.63/100
• National rank: #7173
• State rank: #593 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): 36,019
• Household income: $58,686
• Rent vs Own: 59.5% rent · 40.5% own
• Severe rent burden: 2844.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 42% Black 29% White 23% Two or more races 19% Asian 2%
• Hispanic origin (detail): Mexican 26%
• Common ancestry: Lithuanian 2% Italian 1% Serbian 1%
• Foreign-born: 26% · Canada, China
• Languages at home: 56% English-only · Spanish 37% French/Haitian/Cajun 1% Other Asian/Pacific 1%

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: ▼ -145.44%
• Current HPI: 266.5195
• Rent YoY: ▬ 0.02%
• 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

+61.5% since first listed

23 events — show timeline

• 2026-06-09 Listed $105,000 HARMLS
• 2024-10-25 Sold (Public Records) — Public Records
• 2024-10-21 Sold (MLS) — HARMLS
• 2024-10-11 Pending — HARMLS
• 2024-10-08 Pending — HARMLS
• 2024-09-06 Listed $145,000 HARMLS
• 2024-09-04 Coming Soon $145,000 HARMLS
• 2024-09-03 Listing Removed — HARMLS
• 2024-07-13 Listed $145,000 HARMLS
• 2023-08-10 Sold (Public Records) — Public Records
• 2023-08-09 Sold (MLS) — HARMLS
• 2023-07-11 Pending — HARMLS
• 2023-06-27 Listed $130,000 HARMLS
• 2023-06-27 Coming Soon $130,000 HARMLS
• 2018-09-12 Sold (MLS) — HARMLS
• 2018-08-24 Pending — HARMLS
• 2018-08-16 Pending — HARMLS
• 2018-08-08 Listed $63,500 HARMLS
• 2016-04-07 Listing Removed — HARMLS
• 2016-04-04 Relisted — HARMLS
• 2016-03-28 Pending — HARMLS
• 2016-03-21 Listed $65,000 HARMLS
• 2000-07-31 Sold (Public Records) — Public Records

Property tax history

+7.3%/yr

Latest (2025): $2,989 · +8.9% YoY. Source: county tax records.