17331 Red Oak Dr #26 · Houston, TX 77090

$71,000

1 bd · 1.0 ba · 714 sqft · Condo public records · 52 Days on market

Built 1978 $99/sqft · 15% below area Est $84k · 15% under $250/mo HOA · 25% 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 +15.6/30.0
• ARV discount +14.5/15.0
• 1% rule +9.2/10.0
• DSCR +4.8/10.0
• Appreciation +4.7/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• Rent growth +0.5/5.0

Listing remarks MLS

NICE 2ND FLOOR ONE BEDROOM LOCATED IN A GATED COMPLEX THAT'S NEAR SHOPPING,RETAURANTS,AND I-45.THIS UNIT HAS TILE ENTRY AND LAMINATE FLOORING IN THE LIVING AND DINING AREA.LARGE BEDROOM WITH PLENTY OF CLOSET SPACE. GENEROUS DINING AREA AND CHARMING FIREPLACE.ROOM.

Key facts

• New counter tops
• Fresh paint
• Large balcony

Tags

• UPDATED FLOORING
• FRESH PAINT
• NEW COUNTER TOPS
• LARGE BALCONY
• STORAGE CLOSET
• TWO POOLS

Property features AI

Finance

• HOA & community: Association: Creative Management Association; Monthly association fee of $250; Association fee covers common areas, recreation facilities, water, sewer, and trash

Exterior

• Security: Controlled access; Gated community
• Utilities: Public water; Public sewer
• Home design: Residential single-story home; Entry level on first floor
• Construction: Built in 1978; Brick and vinyl siding exterior; Composition roof; Slab foundation
• Exterior features: Tennis courts; Association pool; Community pool; Controlled access; Gated community; Sport court and pickleball

Interior

• Kitchen: Electric cooktop; Electric oven; Microwave; Dishwasher; Refrigerator
• Bedrooms: Primary bedroom on the first floor (approx. 12 x 14)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (gas); Central air conditioning (electric and gas)
• Interior features: One fireplace; Seller disclosure available
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $71k.

Deal economics

• At list price, monthly cash flow is $30 ($360/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $71k).
• Recommended offer: $69k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 3.1% 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.
• Spring ISD (suburban): math 19% / reading 26% proficiency, ranked #730 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Edwin M Wells Middle (math 8% / reading 17%, grade F, #1,616 of 1,662 statewide, top 97%, 907 students, 89% FRL); Westfield H S (math 13% / reading 17%, grade F, #1,507 of 1,632 statewide, top 93%, 2,574 students, 81% FRL) — zoned schools average 85% FRL vs 66% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents falling (-8.0%/yr); 210 active listings in the ZIP; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $55 of equity ($491 loan paydown + $-436 appreciation (-0.6% 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 52 days — a 3% lower offer ($69k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y ago; this cycle's ask has dropped $8k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.
• 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 $68,870 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% 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 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: 1.42% ✓
• Cap rate: 6.80%
• Cash-on-cash: 1.81%
• DSCR: 1.08
• GRM: 5.9

CMA / ARV

• ARV (median comp): $83,993
• List price: $71,000
• Delta: -15.47%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-0.61% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -5.7%
• Equity multiple: 0.75×
• Total profit: $-4,959
• Equity at exit: $18,463

10-year hold

• IRR: -3.2%
• Equity multiple: 0.73×
• Total profit: $-5,429
• Equity at exit: $20,541

Cash invested: $19,880 (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 77090

• Home prices YoY: -0.2%
• Rents YoY: -8.0%
• Active inventory: 210
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,007 medium
• Mortgage (P&I): −$372
• Tax from tax record: −$114 /mo · $1,366/yr
• Insurance: −$30
• HOA: −$250
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $30

Break-even live

Break-even rent $969

Max offer price $71,000

Occupancy floor 92%

Sensitivity live

Price	-10% $70	-5% $50	+0% $30	+5% $10	+10% $-10
Rent	-10% $-50	-5% $-10	+0% $30	+5% $70	+10% $110
Rate	-1.0pp $66	-0.5pp $48	base $30	+0.5pp $12	+1.0pp $-7

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: $17,750
• Closing costs: $2,130
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-18
   days on market $71,000 Active 52 DOM
2. 2026-06-17
   days on market $71,000 Active 51 DOM
3. 2026-06-16
   days on market $71,000 Active 50 DOM
4. 2026-06-15
   days on market $71,000 Active 49 DOM
5. 2026-06-13
   days on market $71,000 Active 47 DOM
6. 2026-06-13
   days on market $71,000 Active 46 DOM
7. 2026-06-09
   days on market $71,000 Active 43 DOM
8. 2026-06-08
   days on market $71,000 Active 42 DOM
9. 2026-06-07
   days on market $71,000 Active 41 DOM
10. 2026-06-04
    days on market $71,000 Active 38 DOM
11. 2026-06-03
    days on market $71,000 Active 37 DOM
12. 2026-06-02
    days on market $71,000 Active 36 DOM
13. 2026-06-01
    days on market $71,000 Active 35 DOM
14. 2026-05-31
    days on market $71,000 Active 34 DOM
15. 2026-05-07
    price $71,000 382-char remark
16. 2026-04-26
    listed $79,500 Active 382-char remark
17. 2026-04-24
    historical
18. 2026-02-18
    price $80,000
19. 2026-01-09
    status Active
20. 2025-12-15
    historical
21. 2025-09-12
    listed $85,000 Active
22. 2021-05-28
    soldstatus
23. 2021-05-20
    soldstatus Sold

    Show marketing remark (264 chars)

    NICE 2ND FLOOR ONE BEDROOM LOCATED IN A GATED COMPLEX THAT'S NEAR SHOPPING,RETAURANTS,AND I-45.THIS UNIT HAS TILE ENTRY AND LAMINATE FLOORING IN THE LIVING AND DINING AREA.LARGE BEDROOM WITH PLENTY OF CLOSET SPACE. GENEROUS DINING AREA AND CHARMING FIREPLACE.ROOM.

24. 2021-05-04
    status Pending

    Show marketing remark (264 chars)

    NICE 2ND FLOOR ONE BEDROOM LOCATED IN A GATED COMPLEX THAT'S NEAR SHOPPING,RETAURANTS,AND I-45.THIS UNIT HAS TILE ENTRY AND LAMINATE FLOORING IN THE LIVING AND DINING AREA.LARGE BEDROOM WITH PLENTY OF CLOSET SPACE. GENEROUS DINING AREA AND CHARMING FIREPLACE.ROOM.

25. 2021-04-02
    listed $54,900 Active

    Show marketing remark (264 chars)

    NICE 2ND FLOOR ONE BEDROOM LOCATED IN A GATED COMPLEX THAT'S NEAR SHOPPING,RETAURANTS,AND I-45.THIS UNIT HAS TILE ENTRY AND LAMINATE FLOORING IN THE LIVING AND DINING AREA.LARGE BEDROOM WITH PLENTY OF CLOSET SPACE. GENEROUS DINING AREA AND CHARMING FIREPLACE.ROOM.

26. 2017-07-05
    soldstatus
27. 2017-06-30
    soldstatus Sold
28. 2017-06-19
    status Pending
29. 2017-06-09
    status Option Pending
30. 2017-06-07
    status Active
31. 2017-06-01
    status Option Pending
32. 2017-05-17
    listed $39,000 Active
33. 2017-05-01
    soldstatus
34. 2017-04-27
    soldstatus Sold
35. 2017-04-23
    status Pending
36. 2017-04-19
    status Option Pending
37. 2017-04-10
    price $37,000
38. 2017-03-15
    listed $40,000 Active
39. 2017-03-14
    historical
40. 2017-02-09
    price $41,500
41. 2017-01-19
    price $43,000
42. 2016-11-21
    status Active
43. 2016-11-10
    status Option Pending
44. 2016-10-24
    price $45,500
45. 2016-09-27
    listed $47,000 Active
46. 2007-12-20
    soldstatus
47. 2004-12-14
    soldstatus
48. 2000-02-29
    soldstatus
49. 1997-04-30
    soldstatus
50. 1997-04-30
    soldstatus $638,400

ⓘ 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: $1,366 · $114/mo
• Projected year-2 tax: $1,366 · $114/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,088
• − Mortgage interest: −$3,977
• − Property taxes: −$1,366
• − Insurance: −$355
• − Repairs & maintenance: −$967
• − Management: −$967
• − HOA: −$3,000
• − Depreciation: −$2,065
• Taxable loss: −$610
• Est. tax savings @ 24.0%: +$147
• After-tax cash flow: $506/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: Spring ISD
• NCES district ID: 4841220
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $51,584
• Composite: 20.12/100
• National rank: #8643
• State rank: #730 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

• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 40,110
• Household income: $50,903
• Rent vs Own: 70.7% rent · 29.3% own
• Severe rent burden: 3603.0

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: Black 48% Hispanic / Latino 30% Two or more races 16% White 12% Asian 3%
• Hispanic origin (detail): Mexican 20% Puerto Rican 1% Cuban 2%
• Common ancestry: Lithuanian 1% Slovak 1% Hispanic 1%
• Foreign-born: 19% · Canada, Vietnam, Jamaica
• Languages at home: 67% English-only · Spanish 25% French/Haitian/Cajun 2% Other Indo-European 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: ▼ -0.61%
• Current HPI: 249.3582
• Rent YoY: ▼ -7.98%
• 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

-88.9% since first listed

36 events — show timeline

• 2026-05-07 Price Changed $71,000 HARMLS
• 2026-04-26 Listed $79,500 HARMLS
• 2026-04-24 Listing Removed — HARMLS
• 2026-02-18 Price Changed $80,000 HARMLS
• 2026-01-09 Relisted — HARMLS
• 2025-12-15 Listing Removed — HARMLS
• 2025-09-12 Listed $85,000 HARMLS
• 2021-05-28 Sold (Public Records) — Public Records
• 2021-05-20 Sold (MLS) — HARMLS
• 2021-05-04 Pending — HARMLS
• 2021-04-02 Listed $54,900 HARMLS
• 2017-07-05 Sold (Public Records) — Public Records
• 2017-06-30 Sold (MLS) — HARMLS
• 2017-06-19 Pending — HARMLS
• 2017-06-09 Pending — HARMLS
• 2017-06-07 Relisted — HARMLS
• 2017-06-01 Pending — HARMLS
• 2017-05-17 Listed $39,000 HARMLS
• 2017-05-01 Sold (Public Records) — Public Records
• 2017-04-27 Sold (MLS) — HARMLS
• 2017-04-23 Pending — HARMLS
• 2017-04-19 Pending — HARMLS
• 2017-04-10 Price Changed $37,000 HARMLS
• 2017-03-15 Listed $40,000 HARMLS
• 2017-03-14 Listing Removed — HARMLS
• 2017-02-09 Price Changed $41,500 HARMLS
• 2017-01-19 Price Changed $43,000 HARMLS
• 2016-11-21 Relisted — HARMLS
• 2016-11-10 Pending — HARMLS
• 2016-10-24 Price Changed $45,500 HARMLS
• 2016-09-27 Listed $47,000 HARMLS
• 2007-12-20 Sold (Public Records) — Public Records
• 2004-12-14 Sold (Public Records) — Public Records
• 2000-02-29 Sold (Public Records) — Public Records
• 1997-04-30 Sold (Public Records) $638,400 Public Records
• 1997-04-30 Sold (Public Records) — Public Records

Property tax history

+3.6%/yr

Latest (2025): $1,366 · -6.6% YoY. Source: county tax records.