781 Country Place Dr #1093 · Houston, TX 77079

$122,000

2 bd · 2.0 ba · 1,794 sqft · Condo public records · 98 Days on market

Built 1974 $68/sqft · 6% above area Est $116k · 6% over $521/mo HOA · 27% 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 +17.5/30.0
• 1% rule +10.0/10.0
• DSCR +5.5/10.0
• ARV discount +5.0/15.0
• 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

Gated community in an unbeatable Memorial location! Situated directly across from Stratford High School, this spacious condo offers the ultimate convenience in the heart of the Energy Corridor. This spacious one story home has lots of natural light. The kitchen opens up to a breakfast area which brings the home together. The living room area is very functional and is waiting for you to make it a cozy home. Appliances included

Key facts

• Gated community
• Natural light
• Living room area

Tags

• GATED COMMUNITY
• ENERGY CORRIDOR
• NATURAL LIGHT
• BREAKFAST AREA
• LIVING ROOM AREA
• APPLIANCES INCLUDED

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $122k.

Deal economics

• At list price, monthly cash flow is $28 ($339/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $122k).
• Recommended offer: $111k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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.
• 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; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $843 of loan paydown is wiped out by about $4k 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 98 days — a 9% lower offer ($111k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $18k; list at $122k implies a 559% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 27% 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 $111,020 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% 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. 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: 1.60% ✓
• Cap rate: 7.22%
• Cash-on-cash: 3.33%
• DSCR: 1.15
• GRM: 5.2

CMA / ARV

• ARV (median comp): $115,561
• List price: $122,000
• Delta: 5.57%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -20.5%
• Equity multiple: 0.32×
• Total profit: $-23,241
• Equity at exit: $18,191

10-year hold

• IRR: -36.4%
• Equity multiple: -0.12×
• Total profit: $-38,203
• Equity at exit: $10,548

Cash invested: $34,160 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,949 high
• Mortgage (P&I): −$640
• Tax from tax record: −$233 /mo · $2,798/yr
• Insurance: −$51
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$521
• Vacancy / Maint / Mgmt: −$409
• Net cashflow: $28

Break-even live

Break-even rent $1,913

Max offer price $122,000

Occupancy floor 94%

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: $30,500
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

Rent comps 30 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	$1,500	$0.66	4d	6	0.08mi
681 Dairy Ashford Rd Houston, TX	3.0	2.0	1492	$1,886	$1.26	21d	1	0.31mi
681 Dairy Ashford Rd Houston, TX	3.0	2.0	1492	$1,886	$1.26	43d	1	0.31mi
14759 Perthshire Rd Houston, TX	2.0	1.0	1272	$1,925	$1.51	24d	1	0.45mi
777 Bateswood Dr Houston, TX	2.0	1.5–2.0	1488	$1,459	$0.98	5d	4	0.55mi
738 Bateswood Dr Houston, TX	1.0–3.0	1.0–2.0	1010	$1,179	$1.17	20d	12	0.57mi
14800 Memorial Dr Houston, TX	1.0–3.0	1.5–3.0	1371	$2,945	$2.15	1d	14	0.59mi
14800 Memorial Dr Houston, TX	1.0–3.0	1.5–3.0	1368	$3,038	$2.22	10d	21	0.59mi
14814 Perthshire Rd Houston, TX	2.0–4.0	1.0–2.5	1381	$1,250	$0.90	1d	81	0.63mi
14806 Memorial Dr Houston, TX	3.0	3.0	1565	$2,750	$1.76	43d	1	0.63mi
14553 Still Meadow Dr Houston, TX	2.0	2.5	1264	$1,900	$1.50	18d	1	0.65mi
1305 Country Place Dr Houston, TX	3.0	2.5	1886	$1,550	$0.82	43d	1	0.66mi
14855 Memorial Dr Houston, TX	1.0–2.0	1.0–2.0	1098	$2,040	$1.86	1d	29	0.75mi
1200 Dairy Ashford Rd Houston, TX	1.0–2.0	1.0–2.0	974	$1,851	$1.90	2d	30	0.88mi
770 N Eldridge Pkwy Houston, TX	1.0–3.0	1.0–2.0	1099	$1,965	$1.79	1d	19	0.95mi
1200 S Dairy Ashford Rd Houston, TX	1.0–2.0	1.0–2.0	1000	$1,572	$1.57	1d	13	0.96mi
632 N Eldridge Pkwy Unit 1258 Houston, TX	2.0	2.0	1305	$1,685	$1.29	43d	1	1.02mi
632 N Eldridge Pkwy Unit 1442 Houston, TX	2.0	2.0	1444	$2,002	$1.39	43d	1	1.02mi
776 N Eldridge Pkwy Houston, TX	2.0	2.0	1242	$1,909	$1.54	43d	1	1.03mi
15100 Turkey Creek Dr Houston, TX	3.0	2.0	1766	$2,648	$1.50	24d	1	1.11mi
881 N Eldridge Pkwy Houston, TX	3.0	3.0	1766	$2,483	$1.41	20d	1	1.14mi
881 N Eldridge Pkwy Houston, TX	3.0	3.0	1766	$2,483	$1.41	43d	1	1.14mi
875 N Eldridge Pkwy Houston, TX	1.0–3.0	1.0–2.5	1197	$1,928	$1.61	1d	29	1.18mi
12750 Briar Forest Dr Houston, TX	1.0–2.0	1.0–2.0	1081	$1,900	$1.76	3d	9	1.31mi
15206 Memorial Dr Houston, TX	3.0	2.0	1772	$2,718	$1.53	43d	1	1.32mi
15206 Memorial Dr Houston, TX	3.0	2.0	1772	$2,718	$1.53	21d	1	1.32mi
874 Yorkchester Dr Houston, TX	3.0	2.0	1282	$1,620	$1.26	43d	1	1.38mi
611 N Dairy Ashford Rd Houston, TX	1.0–2.0	1.0–2.0	879	$2,056	$2.34	1d	19	1.38mi
15200 Memorial Dr Houston, TX	1.0–2.0	1.5–2.0	1250	$2,852	$2.28	1d	23	1.42mi
777 S Mayde Creek Dr Houston, TX	3.0	1.0–2.5	1279	$2,497	$1.95	1d	20	1.43mi

HOA detail condo

• Monthly dues: $521 · $6,252/yr
• Likely covers: security
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $122,000 Active 98 DOM
2. 2026-06-17
   days on market $122,000 Active 97 DOM
3. 2026-06-16
   days on market $122,000 Active 96 DOM
4. 2026-06-15
   days on market $122,000 Active 95 DOM
5. 2026-06-13
   days on market $122,000 Active 93 DOM
6. 2026-06-09
   days on market $122,000 Active 89 DOM
7. 2026-06-08
   days on market $122,000 Active 88 DOM
8. 2026-06-07
   days on market $122,000 Active 87 DOM
9. 2026-06-04
   days on market $122,000 Active 84 DOM
10. 2026-06-03
    days on market $122,000 Active 83 DOM
11. 2026-06-02
    days on market $122,000 Active 82 DOM
12. 2026-06-01
    days on market $122,000 Active 81 DOM
13. 2026-05-31
    days on market $122,000 Active 80 DOM
14. 2026-03-12
    listed $122,000 Active 431-char remark

    Show marketing remark (431 chars)

    Gated community in an unbeatable Memorial location! Situated directly across from Stratford High School, this spacious condo offers the ultimate convenience in the heart of the Energy Corridor. This spacious one story home has lots of natural light. The kitchen opens up to a breakfast area which brings the home together. The living room area is very functional and is waiting for you to make it a cozy home. Appliances included

15. 1999-12-16
    soldstatus
16. 1998-01-01
    soldstatus $18,500

ⓘ 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: $2,798 · $233/mo
• Projected year-2 tax: $2,798 · $233/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: $23,384
• − Mortgage interest: −$6,834
• − Property taxes: −$2,798
• − Insurance: −$1,408
• − Repairs & maintenance: −$1,871
• − Management: −$1,871
• − HOA: −$6,252
• − Depreciation: −$3,549
• Taxable loss: −$1,197
• Est. tax savings @ 24.0%: +$287
• After-tax cash flow: $626/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

+559.5% since first listed

3 events — show timeline

• 2026-03-12 Listed $122,000 HARMLS
• 1999-12-16 Sold (Public Records) — Public Records
• 1998-01-01 Sold (Public Records) $18,500 Public Records

Property tax history

+4.2%/yr

Latest (2025): $2,798 · +1.2% YoY. Source: county tax records.