9200 W Bellfort St #76 · Houston, TX 77031

$108,000

2 bd · 1.5 ba · 1,179 sqft · Condo public records · 259 Days on market

Built 1979 $92/sqft · 15% below area Est $128k · 15% under $400/mo HOA · 36% of rent ↓ 6% since listing

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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).

• ARV discount +14.4/15.0
• 1% rule +5.3/10.0
• Appreciation +5.2/10.0
• Livability +3.7/5.0
• Cash flow +3.4/30.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +0.0/10.0

Listing remarks MLS

Welcome to this charming 2-bedroom, 1-bath townhouse offering 1,179 sq ft of comfortable living space. Nestled in a quiet community, this home features a spacious layout filled with natural light and a private patio perfect for relaxing or entertaining. The open-concept living and dining area flows seamlessly, while the kitchen offers ample storage and counter space. Both bedrooms are generously sized with great closet space. Enjoy the convenience of low-maintenance living just minutes from shopping, dining, and major freeways. Whether you're a first-time homebuyer or investor, this home is a must-see!

Key facts

• Natural light
• Private patio
• Open-concept living

Tags

• PRIVATE PATIO
• OPEN-CONCEPT LIVING
• AMPLE STORAGE
• NATURAL LIGHT

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $108k.

Deal economics

• At list price, monthly cash flow is $-332 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $49k (54.3% below list).
• Meets the 1% rule at list price ($1k rent vs $108k).
• Recommended offer: $49k (54.3% below list) — sets the bar for cash-flow.

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.
• 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.
• Market conditions: 62 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $1k of equity ($747 loan paydown + $408 appreciation (0.4% 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 259 days — a 12% lower offer ($95k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: HOA is 36% of rent.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $49,339 (54.3% 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 259 days. Have you received any prior offers? Is the seller open to a 54% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.03% ✓
• Cap rate: 2.60%
• Cash-on-cash: -13.18%
• DSCR: 0.41
• GRM: 8.1

CMA / ARV

• ARV (median comp): $127,640
• List price: $108,000
• Delta: -15.39%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

0.38% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.27×
• Total profit: $-22,076
• Equity at exit: $33,414

10-year hold

• IRR: -8.5%
• Equity multiple: 0.05×
• Total profit: $-28,847
• Equity at exit: $41,843

Cash invested: $30,240 (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 77031

• Home prices YoY: 0.2%
• Active inventory: 62
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,111 high
• Mortgage (P&I): −$566
• Tax from tax record: −$198 /mo · $2,381/yr
• Insurance: −$45
• HOA: −$400
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $-332

Break-even live

Break-even rent $1,531

Max offer price $49,339

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: $27,000
• Closing costs: $3,240
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8888 Benning Dr Houston, TX	3.0	3.0	1472	$1,750	$1.19	44d	1	0.55mi
10756 Westbrae Pkwy Houston, TX	2.0	2.0	838	$1,145	$1.37	44d	1	0.59mi
10750 Westbrae Pkwy Unit 2047 Houston, TX	2.0	2.0	838	$1,159	$1.38	3d	1	0.63mi
10750 Westbrae Pkwy Unit 422 Houston, TX	2.0	2.0	838	$1,135	$1.35	8d	1	0.63mi
10750 Westbrae Pkwy Unit 10807 Houston, TX	2.0	2.0	838	$1,159	$1.38	11d	1	0.63mi
10750 Westbrae Pkwy Unit 2165 Houston, TX	2.0	2.0	838	$1,127	$1.34	3d	1	0.63mi
10965 S Gessner Rd Unit 421 Houston, TX	1.0	1.0	1003	$989	$0.99	24d	1	0.84mi
10965 S Gessner Rd Unit 1110 Houston, TX	2.0	2.0	1322	$1,229	$0.93	24d	1	0.84mi
10965 S Gessner Rd Houston, TX	2.0	2.0	1322	$1,229	$0.93	16d	1	0.89mi
10228 S Gessner Rd Houston, TX	1.0	1.0	740	$905	$1.22	44d	1	0.95mi
8700 Gustine Ln Houston, TX	1.0–2.0	1.0–2.0	752	$1,035	$1.38	44d	20	0.99mi
8700 Gustine Ln Houston, TX	1.0–2.0	1.0–2.0	752	$1,004	$1.33	2d	25	0.99mi
10222 S Gessner Rd Houston, TX	1.0	1.0	740	$899	$1.21	13d	1	1.00mi
10222 S Gessner Rd Houston, TX	2.0	2.0	1030	$1,239	$1.20	44d	1	1.00mi
10222 S Gessner Rd Unit 2162 Houston, TX	2.0	2.0	910	$1,080	$1.19	5d	1	1.01mi
10222 S Gessner Rd Unit 2112 Houston, TX	2.0	2.0	910	$1,072	$1.18	3d	1	1.01mi
10222 S Gessner Rd Unit 1162 Houston, TX	1.0	1.0	740	$910	$1.23	5d	1	1.01mi
10222 S Gessner Rd Unit 422 Houston, TX	2.0	2.0	910	$1,080	$1.19	8d	1	1.01mi
10222 S Gessner Rd Unit 324 Houston, TX	1.0	1.0	740	$910	$1.23	8d	1	1.01mi
10222 S Gessner Rd Unit 1165 Houston, TX	1.0	1.0	740	$907	$1.23	3d	1	1.01mi
10222 S Gessner Rd Unit 10273 Houston, TX	1.0	1.0	740	$940	$1.27	44d	1	1.01mi
10222 S Gessner Rd Unit 10243 Houston, TX	1.0	1.0	740	$945	$1.28	14d	1	1.01mi
10222 S Gessner Rd Unit 10243 Houston, TX	1.0	1.0	740	$949	$1.28	11d	1	1.01mi
30 Gustine Ln Houston, TX	1.0	1.0	757	$775	$1.02	44d	1	1.05mi
8207 W Bellfort Ave Houston, TX	2.0	2.0	982	$990	$1.01	18d	1	1.06mi
8207 W Bellfort Ave Houston, TX	2.0	2.0	982	$990	$1.01	44d	1	1.06mi
8243 Creekbend Dr Houston, TX	2.0	2.0	1150	$1,350	$1.17	24d	1	1.09mi
10411 South Dr Houston, TX	1.0–2.0	1.0–2.0	757	$1,495	$1.97	44d	1	1.10mi
9001 S Braeswood Blvd Houston, TX	1.0–2.0	1.0–2.0	739	$852	$1.15	2d	26	1.13mi
9001 S Braeswood Blvd Houston, TX	1.0–2.0	1.0–2.0	739	$971	$1.31	44d	26	1.13mi
8110 Creekbend Dr Apt 628 Houston, TX	1.0	1.0	710	$920	$1.30	24d	1	1.16mi
8110 Creekbend Dr Unit 113 Houston, TX	2.0	2.0	915	$1,260	$1.38	24d	1	1.16mi
8110 Creekbend Dr Apt 305 Houston, TX	3.0	1.5	747	$1,007	$1.35	24d	1	1.16mi
8110 Creekbend Dr Apt 115 Houston, TX	2.0	1.0	850	$1,181	$1.39	24d	1	1.16mi
8110 Creekbend Dr Apt 616 Houston, TX	1.0	1.0	710	$921	$1.30	44d	1	1.16mi
8201 W Bellfort Ave Unit 422 Houston, TX	2.0	2.0	848	$955	$1.13	8d	1	1.17mi
8201 W Bellfort Ave Unit 2162 Houston, TX	2.0	2.0	848	$955	$1.13	5d	1	1.17mi
8201 W Bellfort Ave Unit 510 Houston, TX	3.0	2.0	1203	$1,157	$0.96	3d	1	1.17mi
12660 Stafford Rd Stafford, TX	1.0–3.0	1.0–2.0	1027	$1,478	$1.44	2d	43	1.18mi
9707 Braeburn Glen Blvd Houston, TX	1.0–3.0	1.0–2.0	905	$1,070	$1.18	8d	15	1.23mi

HOA detail condo

• Monthly dues: $400 · $4,800/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $108,000 Active 259 DOM
2. 2026-06-17
   days on market $108,000 Active 258 DOM
3. 2026-06-16
   days on market $108,000 Active 257 DOM
4. 2026-06-15
   days on market $108,000 Active 256 DOM
5. 2026-06-13
   days on market $108,000 Active 254 DOM
6. 2026-06-10
   days on market $108,000 Active 250 DOM
7. 2026-06-08
   days on market $108,000 Active 249 DOM
8. 2026-06-07
   days on market $108,000 Active 248 DOM
9. 2026-06-04
   days on market $108,000 Active 245 DOM
10. 2026-06-01
    days on market $108,000 Active 242 DOM
11. 2026-05-31
    days on market $108,000 Active 241 DOM
12. 2025-10-02
    historical

    Show marketing remark (609 chars)

    Welcome to this charming 2-bedroom, 1-bath townhouse offering 1,179 sq ft of comfortable living space. Nestled in a quiet community, this home features a spacious layout filled with natural light and a private patio perfect for relaxing or entertaining. The open-concept living and dining area flows seamlessly, while the kitchen offers ample storage and counter space. Both bedrooms are generously sized with great closet space. Enjoy the convenience of low-maintenance living just minutes from shopping, dining, and major freeways. Whether you're a first-time homebuyer or investor, this home is a must-see!

13. 2025-10-02
    listed $108,000 Active 609-char remark

    Show marketing remark (609 chars)

    Welcome to this charming 2-bedroom, 1-bath townhouse offering 1,179 sq ft of comfortable living space. Nestled in a quiet community, this home features a spacious layout filled with natural light and a private patio perfect for relaxing or entertaining. The open-concept living and dining area flows seamlessly, while the kitchen offers ample storage and counter space. Both bedrooms are generously sized with great closet space. Enjoy the convenience of low-maintenance living just minutes from shopping, dining, and major freeways. Whether you're a first-time homebuyer or investor, this home is a must-see!

14. 2025-10-01
    price $108,000
15. 2025-08-07
    listed $115,000 Active
16. 2005-08-23
    soldstatus
17. 2005-07-06
    soldstatus
18. 2000-07-11
    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: $2,381 · $198/mo
• Projected year-2 tax: $2,381 · $198/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 5/10 Major FEMA zone X (unshaded) · 65% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,332
• − Mortgage interest: −$6,050
• − Property taxes: −$2,381
• − Insurance: −$540
• − Repairs & maintenance: −$1,067
• − Management: −$1,067
• − HOA: −$4,800
• − Depreciation: −$3,142
• Taxable loss: −$5,713
• Est. tax savings @ 24.0%: +$1,371
• After-tax cash flow: $-2,614/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
• City population: 3,226,434
• Population (ZIP): 15,740

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 0.61)
• Race & ethnicity: Hispanic / Latino 57% Two or more races 25% Black 20% White 14% Asian 7%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Italian 1% Lithuanian 1%
• Foreign-born: 42% · Canada, Jamaica, Vietnam
• Languages at home: 42% English-only · Spanish 48% Vietnamese 2% Other Indo-European 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: ▲ 0.38%
• Current HPI: 235.9144
• Rent YoY: —
• Metro: —
• 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

-6.1% since first listed

7 events — show timeline

• 2025-10-02 Listed $108,000 HARMLS
• 2025-10-02 Listing Removed — HARMLS
• 2025-10-01 Price Changed $108,000 HARMLS
• 2025-08-07 Listed $115,000 HARMLS
• 2005-08-23 Sold (Public Records) — Public Records
• 2005-07-06 Sold (Public Records) — Public Records
• 2000-07-11 Sold (Public Records) — Public Records

Property tax history

+5.2%/yr

Latest (2025): $2,381 · +1.5% YoY. Source: county tax records.