781 Country Place Dr #1061 · Houston, TX 77079

$99,500

3 bd · 2.0 ba · 1,764 sqft · Condo public records · 78 Days on market

Built 1974 $56/sqft · 14% below area Est $116k · 14% under $525/mo HOA · 25% of rent

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Why this score? — see what drove the B+ 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 +29.4/30.0
• ARV discount +13.8/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully remodeled first-floor condo in a prime location, offering 3 spacious bedrooms and 2 full bathrooms. The kitchen features brand-new appliances, updated flooring, fresh paint, and modern light fixtures throughout, creating a move-in-ready space with stylish appeal. Enjoy the convenience of two reserved parking spots located directly in front of the unit, with gated access for added security. The front patio overlooks a large open green space—ideal for children to play or hosting family gatherings—while the back patio includes a locked storage closet housing the utility room. Located close to shopping centers, restaurants, and schools, this property combines comfort, convenience, and value. Don’t miss your chance to own this well-priced gem—schedule your showing today before it’s gone! Trash, water and outside maintenance is included with the HOA

Key facts

• Gated access
• Updated flooring
• Brand-new appliances

Tags

• REMODELED FIRST-FLOOR CONDO
• BRAND-NEW APPLIANCES
• UPDATED FLOORING
• MODERN LIGHT FIXTURES
• TWO RESERVED PARKING SPOTS
• GATED ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $100k.

Deal economics

• At list price, monthly cash flow is $286 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.5% 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: schools D, crime F.
• Spring Branch ISD (urban): math 47% / reading 46% proficiency, ranked #215 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.8%/yr); 235 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $688 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

• It's been on market 78 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $6k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $31k; list at $100k implies a 221% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price; flood insurance adds $66/mo; HOA is 25% of rent.
• Climate carrying-cost: severe flood risk; 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 $93,530 (6.0% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
8. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 2.10% ✓
• Cap rate: 10.54%
• Cash-on-cash: 15.18%
• DSCR: 1.68
• GRM: 4.0

CMA / ARV

• ARV (median comp): $115,587
• List price: $99,500
• Delta: -13.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.87×
• Total profit: $-3,580
• Equity at exit: $14,836

10-year hold

• IRR: -1.0%
• Equity multiple: 0.95×
• Total profit: $-1,505
• Equity at exit: $8,603

Cash invested: $27,860 (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 77079

• Rents YoY: -0.8%
• Active inventory: 235
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $2,090 high
• Mortgage (P&I): −$522
• Tax from tax record: −$210 /mo · $2,520/yr
• Insurance: −$41
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$525
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $286

Break-even live

Break-even rent $1,728

Max offer price $99,500

Occupancy floor 81%

Sensitivity live

Price	-10% $342	-5% $314	+0% $286	+5% $258	+10% $230
Rent	-10% $121	-5% $204	+0% $286	+5% $369	+10% $451
Rate	-1.0pp $336	-0.5pp $311	base $286	+0.5pp $260	+1.0pp $234

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: $24,875
• Closing costs: $2,985
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
781 Country Place Dr Houston, TX	2.0–3.0	2.0–2.5	2264	$1,800	$0.80	5d	6	0.08mi
681 Dairy Ashford Rd Houston, TX	3.0	2.0	1492	$1,886	$1.26	44d	1	0.31mi
681 Dairy Ashford Rd Houston, TX	3.0	2.0	1492	$1,886	$1.26	22d	1	0.31mi
14759 Perthshire Rd Houston, TX	2.0	1.0	1272	$1,925	$1.51	25d	1	0.45mi
777 Bateswood Dr Houston, TX	2.0	1.5–2.0	1488	$1,459	$0.98	6d	4	0.55mi
738 Bateswood Dr Houston, TX	1.0–3.0	1.0–2.0	1010	$1,459	$1.44	21d	12	0.57mi
14800 Memorial Dr Houston, TX	1.0–3.0	1.5–3.0	1371	$3,885	$2.83	2d	14	0.59mi
14800 Memorial Dr Houston, TX	1.0–3.0	1.5–3.0	1368	$3,966	$2.90	11d	21	0.59mi
14814 Perthshire Rd Houston, TX	2.0–4.0	1.0–2.5	1381	$1,748	$1.26	2d	81	0.63mi
14806 Memorial Dr Houston, TX	3.0	3.0	1565	$2,750	$1.76	44d	1	0.63mi
14553 Still Meadow Dr Houston, TX	2.0	2.5	1264	$1,900	$1.50	19d	1	0.65mi
1305 Country Place Dr Houston, TX	3.0	2.5	1886	$1,550	$0.82	44d	1	0.66mi
14855 Memorial Dr Houston, TX	1.0–2.0	1.0–2.0	1098	$2,040	$1.86	2d	29	0.75mi
1200 Dairy Ashford Rd Houston, TX	1.0–2.0	1.0–2.0	974	$1,851	$1.90	0d	31	0.88mi
770 N Eldridge Pkwy Houston, TX	1.0–3.0	1.0–2.0	1099	$2,544	$2.31	2d	19	0.95mi
1200 S Dairy Ashford Rd Houston, TX	1.0–2.0	1.0–2.0	1000	$1,572	$1.57	2d	13	0.96mi
12658 Briar Patch Rd Houston, TX	4.0	3.0	2405	$2,500	$1.04	8d	1	0.97mi
632 N Eldridge Pkwy Unit 1258 Houston, TX	2.0	2.0	1305	$1,685	$1.29	44d	1	1.02mi
632 N Eldridge Pkwy Unit 1442 Houston, TX	2.0	2.0	1444	$2,002	$1.39	44d	1	1.02mi
776 N Eldridge Pkwy Houston, TX	2.0	2.0	1242	$1,909	$1.54	44d	1	1.03mi
15100 Turkey Creek Dr Houston, TX	3.0	2.0	1766	$2,648	$1.50	25d	1	1.11mi
881 N Eldridge Pkwy Houston, TX	3.0	3.0	1766	$2,483	$1.41	44d	1	1.14mi
881 N Eldridge Pkwy Houston, TX	3.0	3.0	1766	$2,483	$1.41	21d	1	1.14mi
875 N Eldridge Pkwy Houston, TX	1.0–3.0	1.0–2.5	1197	$2,688	$2.25	2d	29	1.18mi
12750 Briar Forest Dr Houston, TX	1.0–2.0	1.0–2.0	1081	$1,900	$1.76	4d	9	1.31mi
15206 Memorial Dr Houston, TX	3.0	2.0	1772	$2,718	$1.53	44d	1	1.32mi
15206 Memorial Dr Houston, TX	3.0	2.0	1772	$2,718	$1.53	22d	1	1.32mi
874 Yorkchester Dr Houston, TX	3.0	2.0	1282	$1,620	$1.26	44d	1	1.38mi
611 N Dairy Ashford Rd Houston, TX	1.0–2.0	1.0–2.0	879	$2,056	$2.34	2d	19	1.38mi
15200 Memorial Dr Houston, TX	1.0–2.0	1.5–2.0	1250	$2,852	$2.28	2d	23	1.42mi
777 S Mayde Creek Dr Houston, TX	3.0	1.0–2.5	1279	$3,011	$2.35	3d	20	1.43mi

HOA detail condo

• Monthly dues: $525 · $6,300/yr
• Likely covers: watertrashsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-18
   days on market $99,500 Active 78 DOM
2. 2026-06-17
   days on market $99,500 Active 77 DOM
3. 2026-06-16
   days on market $99,500 Active 76 DOM
4. 2026-06-15
   days on market $99,500 Active 75 DOM
5. 2026-06-13
   days on market $99,500 Active 73 DOM
6. 2026-06-09
   days on market $99,500 Active 69 DOM
7. 2026-06-08
   days on market $99,500 Active 68 DOM
8. 2026-06-07
   days on market $99,500 Active 67 DOM
9. 2026-06-04
   days on market $99,500 Active 64 DOM
10. 2026-06-03
    days on market $99,500 Active 63 DOM
11. 2026-06-02
    days on market $99,500 Active 62 DOM
12. 2026-06-01
    days on market $99,500 Active 61 DOM
13. 2026-05-31
    days on market $99,500 Active 60 DOM
14. 2026-04-17
    price $99,500 897-char remark

    Show marketing remark (897 chars)

    Beautifully remodeled first-floor condo in a prime location, offering 3 spacious bedrooms and 2 full bathrooms. The kitchen features brand-new appliances, updated flooring, fresh paint, and modern light fixtures throughout, creating a move-in-ready space with stylish appeal. Enjoy the convenience of two reserved parking spots located directly in front of the unit, with gated access for added security. The front patio overlooks a large open green space—ideal for children to play or hosting family gatherings—while the back patio includes a locked storage closet housing the utility room. Located close to shopping centers, restaurants, and schools, this property combines comfort, convenience, and value. Don’t miss your chance to own this well-priced gem—schedule your showing today before it’s gone! Trash, water and outside maintenance is included with the HOA

15. 2026-04-01
    listed $105,000 Active 897-char remark

    Show marketing remark (897 chars)

    Beautifully remodeled first-floor condo in a prime location, offering 3 spacious bedrooms and 2 full bathrooms. The kitchen features brand-new appliances, updated flooring, fresh paint, and modern light fixtures throughout, creating a move-in-ready space with stylish appeal. Enjoy the convenience of two reserved parking spots located directly in front of the unit, with gated access for added security. The front patio overlooks a large open green space—ideal for children to play or hosting family gatherings—while the back patio includes a locked storage closet housing the utility room. Located close to shopping centers, restaurants, and schools, this property combines comfort, convenience, and value. Don’t miss your chance to own this well-priced gem—schedule your showing today before it’s gone! Trash, water and outside maintenance is included with the HOA

16. 2026-04-01
    historical

    Show marketing remark (897 chars)

    Beautifully remodeled first-floor condo in a prime location, offering 3 spacious bedrooms and 2 full bathrooms. The kitchen features brand-new appliances, updated flooring, fresh paint, and modern light fixtures throughout, creating a move-in-ready space with stylish appeal. Enjoy the convenience of two reserved parking spots located directly in front of the unit, with gated access for added security. The front patio overlooks a large open green space—ideal for children to play or hosting family gatherings—while the back patio includes a locked storage closet housing the utility room. Located close to shopping centers, restaurants, and schools, this property combines comfort, convenience, and value. Don’t miss your chance to own this well-priced gem—schedule your showing today before it’s gone! Trash, water and outside maintenance is included with the HOA

17. 2026-03-18
    price $109,000
18. 2026-03-04
    status Active
19. 2025-12-18
    status Pending
20. 2025-12-12
    status Pending
21. 2025-10-17
    historical
22. 2025-10-17
    listed $119,900 Active
23. 2025-10-16
    price $119,900
24. 2025-10-02
    price $129,900
25. 2025-09-17
    listed $144,900 Active
26. 2014-12-18
    soldstatus
27. 2006-11-22
    soldstatus
28. 2000-10-09
    soldstatus
29. 2000-10-09
    soldstatus
30. 2000-10-01
    soldstatus $31,000

ⓘ 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: $2,520 · $210/mo
• Projected year-2 tax: $2,520 · $210/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 (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°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: $25,075
• − Mortgage interest: −$5,574
• − Property taxes: −$2,520
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,006
• − Management: −$2,006
• − HOA: −$6,300
• − Depreciation: −$2,895
• Taxable income: $2,480
• Est. tax owed @ 24.0%: −$595
• After-tax cash flow: $2,838/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 Branch ISD
• NCES district ID: 4841100
• Math proficiency: 47% ▼ -4.00%
• Reading proficiency: 46% ▼ -1.00%
• Median HH income: $60,311
• Composite: 40.88/100
• National rank: #3624
• State rank: #215 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): 37,276
• Household income: $101,995
• Rent vs Own: 51.7% rent · 48.3% own
• Severe rent burden: 1811.0

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 0.64)
• Race & ethnicity: White 55% Hispanic / Latino 20% Two or more races 15% Black 13% Asian 8%
• Hispanic origin (detail): Mexican 10% Cuban 1%
• Common ancestry: Lithuanian 4% Slovak 2% Italian 2%
• Foreign-born: 25% · Canada, Jamaica, China
• Languages at home: 69% English-only · Spanish 15% Other Indo-European 5% Chinese 2%

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: ▼ -316.55%
• Current HPI: 286.7958
• Rent YoY: ▼ -0.80%
• 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

+221.0% since first listed

17 events — show timeline

• 2026-04-17 Price Changed $99,500 HARMLS
• 2026-04-01 Listing Removed — HARMLS
• 2026-04-01 Listed $105,000 HARMLS
• 2026-03-18 Price Changed $109,000 HARMLS
• 2026-03-04 Relisted — HARMLS
• 2025-12-18 Pending — HARMLS
• 2025-12-12 Pending — HARMLS
• 2025-10-17 Listing Removed — HARMLS
• 2025-10-17 Listed $119,900 HARMLS
• 2025-10-16 Price Changed $119,900 HARMLS
• 2025-10-02 Price Changed $129,900 HARMLS
• 2025-09-17 Listed $144,900 HARMLS
• 2014-12-18 Sold (Public Records) — Public Records
• 2006-11-22 Sold (Public Records) — Public Records
• 2000-10-09 Sold (Public Records) — Public Records
• 2000-10-09 Sold (Public Records) — Public Records
• 2000-10-01 Sold (Public Records) $31,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $2,520 · -7.5% YoY. Source: county tax records.