6718 Lockwood Dr · Houston, TX 77028

$125,000

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 10 Days on market

Built 1930 0.35 ac lot Est $111k · 12% over

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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).

• Cash flow +18.3/30.0
• Appreciation +7.6/10.0
• DSCR +5.7/10.0
• 1% rule +5.0/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• ARV discount +2.0/15.0

Listing remarks

Estate Property – Rehab or Tear-Down Opportunity Near 610 / Hwy 59 North 15,180 sq. ft. lot. This property is being sold strictly as-is and is ideal for investors, builders, or those seeking a full renovation project or a new construction opportunity. The existing structure is in distressed condition and will require rehabilitation or complete removal. This site offers convenient access to downtown, the Heights, and surrounding employment corridors, making it a great opportunity in an area with ongoing development activity. Buyer to verify all zoning, utility, and development requirements. Property sold strictly as-is. No repairs will be made.

Key facts

• Convenient access
• 0.35 acre lot
• Built 1930

Tags

• CONVENIENT ACCESS
• ONGOING DEVELOPMENT ACTIVITY

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property; Single-story (first level rooms shown)
• Construction: Built in 1930; Wood siding exterior; Block foundation; Composition roof
• Exterior features: Cleared lot

Interior

• Bedrooms: Primary bedroom (first level); Bedroom (first level) — 9x10; Bedroom (first level) — 6x8
• Bathrooms: 1 full bathroom
• Interior features: Living room; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $114 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (0.2% below list).
• Recommended offer: $125k (0.2% below list) — sets the bar for 1% rule.

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: 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.
• Zoned schools: Key Middle (math 10% / reading 20%, grade F, #1,569 of 1,662 statewide, top 95%, 615 students, 100% FRL); Kashmere H S (math 14% / reading 22%, grade F, #1,445 of 1,632 statewide, top 89%, 725 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 16% at this address vs 31% district-wide (-14 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.6%/yr); 353 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($864 loan paydown + $7k appreciation (5.2% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.2% appreciation + 0.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 14y 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: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• 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 $124,703 (0.2% below list)

Questions for the listing agent

1. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.00% ✗
• Cap rate: 7.39%
• Cash-on-cash: 3.91%
• DSCR: 1.17
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $111,360
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5017 Baton Rouge St	0.26mi	3/2.0 (+1)	1,080 (+12%)	5mo	$125,000	$116	54
5606 Finch St	0.71mi	3/1.0 (+1)	960 (0%)	10mo	$75,000	$78	54
7600 Wileyvale Rd	0.48mi	3/1.5 (+1)	1,062 (+11%)	9mo	$99,999	$94	45
6003 Pickfair St	0.49mi	2/2.0	900 (-6%)	22mo	$140,000	$156	45
5626 Finch Street St	0.74mi	2/1.0	832 (-13%)	3mo	$73,000	$88	40
5301 Bennington St	0.31mi	1/1.0 (-1)	829 (-14%)	23mo	$219,999	$265	39
5503 Finch St	0.71mi	3/2.5 (+1)	1,034 (+8%)	6mo	$210,000	$203	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.25% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 15.4%
• Equity multiple: 1.98×
• Total profit: $34,198
• Equity at exit: $72,704

10-year hold

• IRR: 14.6%
• Equity multiple: 3.57×
• Total profit: $90,115
• Equity at exit: $127,049

Cash invested: $35,000 (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 77028

• Home prices YoY: 2.0%
• Rents YoY: -1.6%
• Active inventory: 353
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,247 high
• Mortgage (P&I): −$656
• Tax from tax record: −$164 /mo · $1,962/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $114

Break-even live

Break-even rent $1,103

Max offer price $125,000

Occupancy floor 86%

Sensitivity live

Price	-10% $185	-5% $149	+0% $114	+5% $79	+10% $43
Rent	-10% $16	-5% $65	+0% $114	+5% $163	+10% $213
Rate	-1.0pp $177	-0.5pp $146	base $114	+0.5pp $82	+1.0pp $49

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5117 Lavender St Houston, TX	2.0	1.0	740	$1,040	$1.41	8d	4	0.92mi
5117 Lavender St Houston, TX	2.0	1.0	740	$1,065	$1.44	16d	8	0.92mi
5117 Lavender St Houston, TX	2.0–3.0	1.0	780	$1,040	$1.33	20d	2	0.92mi
4679 Weaver Rd Houston, TX	2.0	1.0	856	$990	$1.16	44d	1	0.94mi
4442 Weaver Rd Unit 707 Houston, TX	2.0	1.0	765	$1,110	$1.45	25d	1	0.96mi
4422 Weaver Rd Apt 707 Houston, TX	2.0	1.0	765	$1,110	$1.45	44d	1	0.97mi
5414 Pardee St Houston, TX	3.0	2.0	1100	$1,500	$1.36	44d	1	1.06mi
3107 Melbourne St Houston, TX	3.0	1.0	956	$1,500	$1.57	44d	1	1.34mi
7320 Jensen Dr Houston, TX	1.0–3.0	1.0–2.0	935	$1,010	$1.08	2d	5	1.45mi
5006 Cavalcade St Apt 2 Houston, TX	1.0	1.0	541	$850	$1.57	44d	1	1.46mi

Listing history 7 events

1. 2026-06-18
   days on market $125,000 Active 10 DOM
2. 2026-06-17
   days on market $125,000 Active 9 DOM
3. 2026-06-16
   days on market $125,000 Active 8 DOM
4. 2026-06-15
   days on market $125,000 Active 7 DOM
5. 2026-06-13
   days on market $125,000 Active 5 DOM
6. 2026-06-09
   remarks 652-char remark
7. 2026-06-09
   listed $125,000 Active 1 DOM

ⓘ 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: $1,962 · $164/mo
• Projected year-2 tax: $2,288 · $191/mo
• Expected delta: +$325/yr (+$27/mo · 16.6%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,964
• − Mortgage interest: −$7,002
• − Property taxes: −$1,962
• − Insurance: −$625
• − Repairs & maintenance: −$1,197
• − Management: −$1,197
• − Depreciation: −$3,636
• Taxable loss: −$655
• Est. tax savings @ 24.0%: +$157
• After-tax cash flow: $1,526/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
• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 19,109
• Household income: $38,357
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1177.0

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: Majority Black (57%)
• Race & ethnicity: Black 57% Hispanic / Latino 41% Two or more races 15% White 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 13% · Canada
• Languages at home: 61% English-only · Spanish 38%

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: ▲ 5.25%
• Current HPI: 267.7798
• Rent YoY: ▼ -1.55%
• 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

+56.2% since first listed

8 events — show timeline

• 2026-06-08 Listed $125,000 HARMLS
• 2025-01-09 Listing Removed — HARMLS
• 2024-11-15 Listed $80,000 HARMLS
• 2014-01-01 Listing Removed — HARMLS
• 2013-10-09 Price Changed $60,000 HARMLS
• 2013-05-01 Price Changed $75,000 HARMLS
• 2012-11-09 Listed $80,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+10.7%/yr

Latest (2025): $1,962 · +6.6% YoY. Source: county tax records.