At or near the top in grades year in/out.
At or near the top in manpower year in/out.
At or near the top in Intramurals year in/out.
Strong/Influential alumni base.
Regularly function with top tier Sororities.
and lastly, most of the members drive big pickup trucks or SUV's.
For the gals, the % of hot to average/ugly. Example: 9 hotties to 1 fug = the top. No house can have 100% hotness. (Well, OU Tri-Delt back in the day came damn close).