14906 Tuttle Point Dr

Houston, TX 77082

$235,000D

4 bd · 2.5 ba · 2,706 sqft · Built 2006 · Townhouse · Active · 6 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,071/mo
• Mortgage (P&I): −$1,232
• Tax + insurance: −$684
• HOA: −$75
• Vac / Maint / Mgmt: −$435
• Net cashflow: $-355/mo
• Annual: $-4,256/yr
• Cap rate: 4.48%
• Cash-on-cash: -6.47%
• DSCR: 0.71
• 1% rule: 0.88%
• Cash to close: $65,800

Investor read

• This is a 4-bed/2.5-bath townhouse listed at $235k.
• At list price, monthly cash flow is $-355 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $172k (26.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (11.9% below list).
• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $172k (26.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-2.2%/yr); year-one equity from $2k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• 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: crime F.
• Alief ISD (urban): math 23% / reading 28% proficiency, ranked #717 of 826 in TX (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 74% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Holmquist El (math 16% / reading 30%, grade F, #3,277 of 4,322 statewide, top 77%, 765 students, 90% FRL); Albright Middle (math 32% / reading 35%, grade F, #911 of 1,662 statewide, top 56%, 1,058 students, 81% FRL); Alief Isd J J A E P (13 students, 77% FRL).
• Watch-outs: property tax is 3.0% of price.
• Market conditions: Rents soft (-1.6%/yr); 302 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 11 sale attempts since 13y ago 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.
• Climate carrying-cost: 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.
• Cap rate 4.5% 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.
• This rent runs 40% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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?
• 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.