204 Edith St · Highlands, TX 77562

$145,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured public records · 9 Days on market

Built 2001 8,398 sqft lot

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Why this score? — see what drove the B- 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 +29.7/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +7.5/15.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

204 Edith St. in Highlands, TX is a beautifully maintained 3-bedroom, 2-bath home offering comfort, privacy, and convenience. Enjoy a cozy living area with a wood-burning fireplace, plus two electric gates for added privacy and security. Major updates include HVAC (2022), water heater (2023), and roof (2020) for added peace of mind. The storage shed stays, providing extra space and functionality. Conveniently located with easy access to shopping, dining, and major highways, this move-in ready home is one you won’t want to miss!

Key facts

• Hvac
• Roof
• Water heater

Tags

• WOOD BURNING FIREPLACE
• ELECTRIC GATES
• HVAC
• WATER HEATER
• ROOF
• STORAGE SHED

Property features AI

Finance

• Other: Lot about 0.19 acre (approximately 8,400 sq ft)
• Financial info: Lease not considered

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 2001
• Construction: Composition roof; Construction materials: Unknown
• Exterior features: Cleared lot; Asphalt road access

Interior

• Kitchen: Dishwasher; Disposal; Gas oven; Gas range
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Wood-burning fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $145k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 10.7% vs local median 5.2% in Highlands — 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 64/100 on livability (#738 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, amenities F.
• Goose Creek CISD (urban): math 37% / reading 36% proficiency, ranked #473 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Highlands El (math 33% / reading 33%, grade F, #2,208 of 4,322 statewide, top 52%, 739 students, 83% FRL); Highlands J H (math 46% / reading 37%, grade F, #595 of 1,662 statewide, top 37%, 994 students, 82% FRL); Goose Creek Memorial (math 28% / reading 45%, grade F, #924 of 1,632 statewide, top 57%, 2,223 students, 70% FRL) — zoned schools average 78% FRL vs 61% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 76 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 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 (-3.0%/yr); year-one equity from $1k 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $145,000

Questions for the listing agent

1. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.29% ✓
• Cap rate: 10.66%
• Cash-on-cash: 15.60%
• DSCR: 1.69
• GRM: 6.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -11.4%
• Equity multiple: 0.59×
• Total profit: $-16,788
• Equity at exit: $21,620

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-5,261
• Equity at exit: $12,537

Cash invested: $40,600 (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 77562

• Home prices YoY: -24.9%
• Active inventory: 76
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,873 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$131 /mo · $1,575/yr
• Insurance: −$60
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$393
• Net cashflow: $101

Break-even live

Break-even rent $1,745

Max offer price $145,000

Occupancy floor 90%

Sensitivity live

Price	-10% $183	-5% $142	+0% $101	+5% $60	+10% $19
Rent	-10% $-47	-5% $27	+0% $101	+5% $175	+10% $249
Rate	-1.0pp $174	-0.5pp $138	base $101	+0.5pp $64	+1.0pp $25

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 Julie Ln Highlands, TX	3.0	2.0	1282	$1,750	$1.37	45d	1	0.28mi
7006 Orchid St Baytown, TX	3.0	2.0	1620	$1,766	$1.09	6d	1	1.21mi
305 Riverside St Highlands, TX	3.0	2.0	1404	$2,600	$1.85	4d	1	1.46mi

Listing history 13 events

1. 2026-06-01
   days on market $145,000 Pending 9 DOM
2. 2026-05-31
   days on market $145,000 Pending 8 DOM
3. 2026-05-23
   listed $145,000 Active
4. 2013-03-26
   historical
5. 2012-03-25
   listed $94,500 Active
6. 2012-03-09
   historical
7. 2011-09-08
   listed $94,500
8. 2011-08-31
   historical
9. 2010-04-02
   listed $97,987
10. 2006-11-30
    historical
11. 2006-07-06
    listed $110,000
12. 2002-08-01
    soldstatus
13. 2000-06-15
    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: $1,575 · $131/mo
• Projected year-2 tax: $2,654 · $221/mo
• Expected delta: +$1,078/yr (+$90/mo · 68.4%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone AE · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,479
• − Mortgage interest: −$8,122
• − Property taxes: −$1,575
• − Insurance: −$5,844
• − Repairs & maintenance: −$1,798
• − Management: −$1,798
• − Depreciation: −$4,218
• Taxable loss: −$877
• Est. tax savings @ 24.0%: +$210
• After-tax cash flow: $1,425/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: Goose Creek CISD
• NCES district ID: 4821150
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $52,468
• Composite: 31.84/100
• National rank: #5877
• State rank: #473 of 826 in TX

Livability — Highlands

• Score: 64/100
• State rank: #738
• US rank: #13697

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment D+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highlands, TX
• City population: 9,805
• Population (ZIP): 9,805

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 0.62)
• Race & ethnicity: White 48% Hispanic / Latino 38% Two or more races 19% Black 7% Native American 2%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Lithuanian 2% Italian 1% Iranian 1%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 69% English-only · Spanish 29% German/W. Germanic 1%

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: ▼ -100.57%
• Current HPI: 303.5126
• 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

+31.8% since first listed

11 events — show timeline

• 2026-05-23 Listed $145,000 HARMLS
• 2013-03-26 Listing Removed — HARMLS
• 2012-03-25 Listed $94,500 HARMLS
• 2012-03-09 Listing Removed — HARMLS
• 2011-09-08 Listed $94,500 HARMLS
• 2011-08-31 Listing Removed — HARMLS
• 2010-04-02 Listed $97,987 HARMLS
• 2006-11-30 Listing Removed — HARMLS
• 2006-07-06 Listed $110,000 HARMLS
• 2002-08-01 Sold (Public Records) — Public Records
• 2000-06-15 Sold (Public Records) — Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,575 · +15.1% YoY. Source: county tax records.