7200 Clarewood Dr #605 · Houston, TX 77036

$75,000

2 bd · 1.0 ba · 885 sqft · Condo · 97 Days on market

Built 1977 Average condition $400/mo HOA · 38% of rent

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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).

• 1% rule +9.0/10.0
• Cash flow +7.7/30.0
• ARV discount +7.5/15.0
• Appreciation +4.6/10.0
• Livability +3.7/5.0
• Condition / age +2.8/5.0
• Schools +2.7/10.0
• DSCR +1.8/10.0
• Rent growth +0.8/5.0

Listing remarks MLS

Welcome to this charming 2-bedroom, 1-bath condo located on the second floor of a secure, gated community. This well-maintained home features tile flooring throughout, offering both durability and easy maintenance. The spacious living and dining areas provide a comfortable layout perfect for relaxing or entertaining. The kitchen includes a brand-new stove. Both bedrooms are generously sized with plenty of natural light, and the full bath is conveniently located for easy access. Ideally situated with quick access to major freeways, commuting is effortless. Just minutes from Downtown Houston, The Galleria, and Sugar Land, you’ll enjoy close proximity to shopping, dining, and entertainment. Schedule your showing today!

Key facts

• Gated community
• Brand new stove
• Tile flooring

Tags

• GATED COMMUNITY
• TILE FLOORING
• BRAND NEW STOVE
• QUICK ACCESS TO MAJOR FREEWAYS
• CLOSE PROXIMITY TO SHOPPING
• CLOSE PROXIMITY TO DINING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $75k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $62k (16.9% below list).
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $62k (16.9% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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.
• 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: Rents falling (-6.6%/yr); 200 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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

• Local home prices are declining (-0.7%/yr); year-one equity from $519 of loan paydown is wiped out by about $548 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 97 days — a 9% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 7043% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 38% 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 $62,331 (16.9% 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 97 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — 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: 1.40% ✓
• Cap rate: 4.89%
• Cash-on-cash: -5.00%
• DSCR: 0.78
• GRM: 5.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-0.73% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -14.8%
• Equity multiple: 0.37×
• Total profit: $-13,129
• Equity at exit: $19,077

10-year hold

• IRR: -13.1%
• Equity multiple: -0.07×
• Total profit: $-22,396
• Equity at exit: $20,873

Cash invested: $21,000 (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 77036

• Home prices YoY: -0.3%
• Rents YoY: -6.6%
• Active inventory: 200
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,052 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,125/yr
• Insurance: −$31
• HOA: −$400
• Vacancy / Maint / Mgmt: −$221
• Net cashflow: $-88

Break-even live

Break-even rent $1,162

Max offer price $62,331

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7211 Bellerive Dr Houston, TX	1.0	1.0	807	$1,153	$1.43	44d	1	0.20mi
5815 Gulfton St Houston, TX	1.0	1.0	855	$940	$1.10	44d	1	0.21mi
7222 Bellerive Dr Houston, TX	1.0–2.0	1.0–2.5	1088	$1,650	$1.52	2d	9	0.28mi
7500 Clarewood Dr Houston, TX	2.0	2.0	1025	$1,015	$0.99	15d	1	0.29mi
5959 Bonhomme Rd Unit 423 Houston, TX	2.0	2.0	853	$986	$1.16	44d	1	0.32mi
5959 Bonhomme Rd Unit 6010 Houston, TX	1.0	1.0	539	$771	$1.43	44d	1	0.32mi
7506 Clarewood Dr Houston, TX	1.0	1.0	715	$830	$1.16	44d	1	0.33mi
5959 Bonhomme Rd Houston, TX	2.0	2.0	692	$1,278	$1.85	2d	27	0.33mi
6203 Marinette Dr Houston, TX	1.0–2.0	1.0–2.0	935	$1,144	$1.22	2d	9	0.35mi
7391 Regency Square Ct Houston, TX	1.0	1.0	661	$849	$1.28	44d	1	0.35mi
6106 Marinette Dr Houston, TX	1.0	1.0	685	$800	$1.17	15d	1	0.40mi
6106 Marinette Dr Houston, TX	1.0	1.0	685	$800	$1.17	44d	1	0.40mi
6106 Marinette Dr Houston, TX	2.0	2.0	985	$990	$1.01	24d	1	0.40mi
6200 Marinette Dr Houston, TX	1.0–3.0	1.0–2.5	912	$1,002	$1.10	4d	22	0.44mi
7581 Bellaire Blvd Houston, TX	1.0	1.0	691	$1,010	$1.46	44d	1	0.46mi
7581 Bellaire Blvd Houston, TX	2.0	2.0	834	$1,350	$1.62	24d	1	0.46mi
7581 Bellaire Blvd Houston, TX	1.0	1.0	691	$1,010	$1.46	20d	1	0.46mi
7500 Bellerive Dr Houston, TX	2.0	1.0–2.0	692	$1,055	$1.52	13d	1	0.47mi
7506 Bellerive Dr Houston, TX	2.0	2.0	970	$1,100	$1.13	44d	1	0.47mi
6960 Bellaire Blvd Houston, TX	1.0	1.0	713	$945	$1.33	21d	1	0.47mi
6960 Bellaire Blvd Houston, TX	1.0	1.0	727	$935	$1.29	44d	1	0.47mi
6718 De Moss Dr Houston, TX	1.0–3.0	1.0–2.5	978	$1,054	$1.08	2d	34	0.61mi
7637 Harwin Dr Houston, TX	1.0–2.0	1.0	908	$1,119	$1.23	2d	12	0.65mi
5810 Fondren Rd Houston, TX	1.0–3.0	1.0–2.0	1000	$1,158	$1.16	15d	1	0.73mi
7900 Bellaire Blvd Houston, TX	1.0–3.0	1.0–2.0	942	$1,180	$1.25	18d	1	0.86mi
8100 Bellaire Blvd Houston, TX	1.0–3.0	1.0–2.0	881	$1,115	$1.26	3d	25	1.00mi
22 Sands Point Dr Houston, TX	1.0	1.0	610	$955	$1.57	44d	1	1.06mi
6525 Hillcroft Ave Houston, TX	1.0–3.0	1.0–2.0	1072	$1,149	$1.07	1d	26	1.08mi
6601 Dunlap St Houston, TX	1.0–2.0	1.0–2.0	760	$1,185	$1.56	1d	29	1.10mi
6601 Dunlap St Houston, TX	1.0–2.0	1.0–2.0	938	$1,009	$1.08	44d	1	1.10mi
6556 Hillcroft St Houston, TX	2.0	2.0	990	$1,056	$1.07	44d	1	1.12mi
8100 Sands Point Dr Houston, TX	1.0–3.0	1.0–2.0	953	$1,298	$1.36	2d	29	1.13mi
6531 Hillcroft St Houston, TX	2.0	1.0	1008	$1,147	$1.14	44d	1	1.16mi
8155 Richmond Ave Houston, TX	1.0–2.0	1.0–2.0	746	$1,038	$1.39	8d	15	1.21mi
3737 Hillcroft St Houston, TX	1.0–2.0	1.0–2.0	810	$1,431	$1.77	2d	24	1.24mi
7001 Hillcroft St Houston, TX	1.0–2.0	1.0–2.0	804	$1,255	$1.56	14d	1	1.26mi
7111 Hillcroft Ave Unit 1162 Houston, TX	1.0	1.0	695	$794	$1.14	8d	1	1.28mi
6233 Gulfton St Houston, TX	1.0–2.0	1.0–2.0	781	$1,020	$1.31	3d	12	1.30mi
7111 Hillcroft St Houston, TX	2.0	1.0	745	$1,210	$1.62	44d	1	1.31mi
7111 Hillcroft Ave Unit 7132 Houston, TX	1.0	1.0	695	$829	$1.19	14d	1	1.31mi

HOA detail condo

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

Listing history 5 events

1. 2026-04-30
   listed $1,050
2. 2026-03-31
   historical $1,100
3. 2026-03-19
   listed $1,100
4. 2026-03-04
   price $75,000 732-char remark

   Show marketing remark (732 chars)

   Welcome to this charming 2-bedroom, 1-bath condo located on the second floor of a secure, gated community. This well-maintained home features tile flooring throughout, offering both durability and easy maintenance. The spacious living and dining areas provide a comfortable layout perfect for relaxing or entertaining. The kitchen includes a brand-new stove. Both bedrooms are generously sized with plenty of natural light, and the full bath is conveniently located for easy access. Ideally situated with quick access to major freeways, commuting is effortless. Just minutes from Downtown Houston, The Galleria, and Sugar Land, you’ll enjoy close proximity to shopping, dining, and entertainment. Schedule your showing today!

5. 2026-02-18
   listed $80,000 Active 732-char remark

   Show marketing remark (732 chars)

   Welcome to this charming 2-bedroom, 1-bath condo located on the second floor of a secure, gated community. This well-maintained home features tile flooring throughout, offering both durability and easy maintenance. The spacious living and dining areas provide a comfortable layout perfect for relaxing or entertaining. The kitchen includes a brand-new stove. Both bedrooms are generously sized with plenty of natural light, and the full bath is conveniently located for easy access. Ideally situated with quick access to major freeways, commuting is effortless. Just minutes from Downtown Houston, The Galleria, and Sugar Land, you’ll enjoy close proximity to shopping, dining, and entertainment. Schedule your showing today!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 24 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: $12,619
• − Mortgage interest: −$4,201
• − Property taxes: −$1,125
• − Insurance: −$375
• − Repairs & maintenance: −$1,010
• − Management: −$1,010
• − HOA: −$4,800
• − Depreciation: −$2,182
• Taxable loss: −$2,083
• Est. tax savings @ 24.0%: +$500
• After-tax cash flow: $-551/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.

Condition & rehab AI · 11 photos

Average 55/100 Cosmetic rehab

This 2-bedroom, 1-bath condo is in average condition with some cosmetic repairs needed. It offers tile flooring throughout and is located in a secure, gated community. The home is well-maintained and has a good layout, making it a solid investment opportunity.

Repairs flagged

• Minor ceiling fan — dust accumulation
• Minor light fixture — dust accumulation

Value-add opportunities

• Both paint interior walls — enhances curb appeal and interior aesthetics
• Both replace ceiling fan — improves air circulation and aesthetics
• Both replace light fixture — improves lighting and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
ceiling fan · dust accumulation	Minor	$500–3,000
light fixture · dust accumulation	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint interior walls — enhances curb appeal and interior aesthetics ↑
• Both replace ceiling fan — improves air circulation and aesthetics ↑
• Both replace light fixture — improves lighting and aesthetics ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 71,770
• Household income: $45,716
• Rent vs Own: 82.3% rent · 17.7% own
• Severe rent burden: 4374.0

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: Predominantly Hispanic (71%)
• Race & ethnicity: Hispanic / Latino 71% Two or more races 28% Black 11% Asian 9% White 7%
• Hispanic origin (detail): Mexican 33% Cuban 3%
• Foreign-born: 55% · Canada, China, Vietnam
• Languages at home: 20% English-only · Spanish 66% Chinese 5% Vietnamese 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: ▼ -0.73%
• Current HPI: 221.1045
• Rent YoY: ▼ -6.62%
• 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

-98.7% since first listed

5 events — show timeline

• 2026-04-30 Listed for Rent $1,050 HARMLS
• 2026-03-31 Rental Removed $1,100 HARMLS
• 2026-03-19 Listed for Rent $1,100 HARMLS
• 2026-03-04 Price Changed $75,000 HARMLS
• 2026-02-18 Listed $80,000 HARMLS