419 Brookwater Dr · Houston, TX 77336

$140,000

2 bd · 1.0 ba · 1,260 sqft · SingleFamily public records · 34 Days on market

Built 1982 0.51 ac lot $111/sqft · 33% below area Est $210k · 33% under $4/mo HOA

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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 +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +8.5/10.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.7/10.0

Listing remarks MLS

Great country property with access to Lake Houston. Set on two treed lots fully fenced. This rustic-style home is charming and complete with separate shop, separate storage and 3 car carport.

Key facts

• Never flooded
• Lakeside community
• Half acre lot

Tags

• HALF ACRE LOT
• LAKESIDE COMMUNITY
• STAND ALONE GARAGE
• NEVER FLOODED
• ACCESS TO LAKE HOUSTON

Property features AI

Finance

• Financial info: Lease not considered
• HOA & community: Member of Water Wonderland POA; Annual association fee of $50

Exterior

• Parking: Detached garage with 1 garage space
• Utilities: Well water
• Home design: Residential property; Single-story (entry level not specified)
• Construction: Wood siding exterior; Metal roof; Block foundation; Built in 1982
• Exterior features: Located in a subdivision; Lot about 0.51 acre

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: One fireplace; Six total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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.
• Huffman ISD (rural): math 32% / reading 35% proficiency, ranked #500 of 826 in TX (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 585 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $968 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $39k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 16y 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.
• Current owner paid $59k; list at $140k implies a 138% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.35% ✓
• Cap rate: 10.01%
• Cash-on-cash: 13.27%
• DSCR: 1.59
• GRM: 6.2

CMA / ARV

• ARV (median comp): $209,690
• List price: $140,000
• Delta: -33.23%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25839 Water Ridge Dr	0.09mi	3/2.0 (+1)	1,300 (+3%)	21mo	$239,900	$185	64
102 Sparkling Water Dr	0.37mi	3/1.5 (+1)	1,271 (+1%)	22mo	$232,000	$183	56
912 Wood Branch Ln	0.61mi	2/2.0	1,225 (-3%)	11mo	$260,000	$212	54
1101 Wood Branch Ln	0.74mi	3/2.0 (+1)	1,428 (+13%)	19mo	$284,900	$200	18

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

Projected returns pro-forma

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

5-year hold

• IRR: 3.3%
• Equity multiple: 1.13×
• Total profit: $5,016
• Equity at exit: $20,874

10-year hold

• IRR: 12.9%
• Equity multiple: 2.03×
• Total profit: $40,283
• Equity at exit: $12,105

Cash invested: $39,200 (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 77336

• Home prices YoY: -1.8%
• Active inventory: 585
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,896 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$268 /mo · $3,211/yr
• Insurance: −$58
• HOA: −$4
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $434

Break-even live

Break-even rent $1,347

Max offer price $140,000

Occupancy floor 72%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
408 Emerald Thicket Ln Huffman, TX	3.0	2.5	1755	$2,200	$1.25	43d	1	1.13mi
24523 Whitesail Dr Huffman, TX	3.0	2.0	1512	$1,800	$1.19	43d	1	1.26mi

HOA detail

• Monthly dues: $4 · $48/yr

Listing history 13 events

1. 2026-06-04
   days on market $140,000 Active 34 DOM
2. 2026-06-03
   days on market $140,000 Active 33 DOM
3. 2026-06-02
   days on market $140,000 Active 32 DOM
4. 2026-06-01
   days on market $140,000 Active 31 DOM
5. 2026-05-31
   days on market $140,000 Active 30 DOM
6. 2026-05-01
   listed $140,000 Active 396-char remark
7. 2011-05-25
   soldstatus
8. 2011-04-29
   soldstatus 191-char remark

   Show marketing remark (191 chars)

   Great country property with access to Lake Houston. Set on two treed lots fully fenced. This rustic-style home is charming and complete with separate shop, separate storage and 3 car carport.

9. 2011-04-27
   historical 191-char remark

   Show marketing remark (191 chars)

   Great country property with access to Lake Houston. Set on two treed lots fully fenced. This rustic-style home is charming and complete with separate shop, separate storage and 3 car carport.

10. 2010-10-20
    listed $74,500 191-char remark

    Show marketing remark (191 chars)

    Great country property with access to Lake Houston. Set on two treed lots fully fenced. This rustic-style home is charming and complete with separate shop, separate storage and 3 car carport.

11. 1998-10-01
    soldstatus
12. 1998-10-01
    soldstatus
13. 1998-09-01
    soldstatus $58,900

ⓘ 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: $3,211 · $268/mo
• Projected year-2 tax: $3,211 · $268/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°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: $22,749
• − Mortgage interest: −$7,842
• − Property taxes: −$3,211
• − Insurance: −$700
• − Repairs & maintenance: −$1,820
• − Management: −$1,820
• − HOA: −$48
• − Depreciation: −$4,073
• Taxable income: $3,235
• Est. tax owed @ 24.0%: −$777
• After-tax cash flow: $4,426/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: Huffman ISD
• NCES district ID: 4823820
• Math proficiency: 32% ▼ -9.00%
• Reading proficiency: 35% ▼ -9.00%
• Median HH income: $65,848
• Composite: 30.61/100
• National rank: #6195
• State rank: #500 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

• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 14,342
• Household income: $96,404
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 377.0

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 White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 23% Two or more races 9% Black 5% Native American 4%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Lithuanian 4% Slovak 2% Romanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 79% English-only · Spanish 18% Other Indo-European 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: ▼ -8.59%
• Current HPI: 472.03
• Rent YoY: —
• 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

+137.7% since first listed

9 events — show timeline

• 2026-06-04 Listing Removed — HARMLS
• 2026-05-01 Listed $140,000 HARMLS
• 2011-05-25 Sold (Public Records) — Public Records
• 2011-04-29 Sold (MLS) — HARMLS
• 2011-04-27 Listing Removed — HARMLS
• 2010-10-20 Listed $74,500 HARMLS
• 1998-10-01 Sold (Public Records) — Public Records
• 1998-10-01 Sold (Public Records) — Public Records
• 1998-09-01 Sold (Public Records) $58,900 Public Records

Property tax history

+2.9%/yr

Latest (2025): $3,211 · +10.6% YoY. Source: county tax records.