14423 Waterloo Dr · Houston, TX 77045

$150,000

3 bd · 1.5 ba · 1,080 sqft · SingleFamily public records · 14 Days on market

Built 1972 6,708 sqft lot Est $203k · 26% under

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Why this score? — see what drove the C+ 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 +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.7/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this fantastic 1-story residential opportunity, perfectly suited for those looking to buy their very first home or invest in a property with a great structural integrity. Featuring an all-brick exterior on all four sides, this 3-bedroom home offers durability, low maintenance, and classic curb appeal. Inside, you will find a functional layout that is entirely move-in ready, yet presents the perfect canvas for a modern renovation. Bring your design ideas and customize the finishes to match your personal style and taste! A/C 2022. Roof 7yr old.

Key facts

• Modern renovation
• A c 2022
• Functional layout

Tags

• ALL BRICK EXTERIOR
• FUNCTIONAL LAYOUT
• MOVE IN READY
• MODERN RENOVATION
• CUSTOMIZE FINISHES
• A C 2022

Property features AI

Finance

• Financial info: Lease considered: No

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 1972; Single-level entry (first-floor living)
• Construction: Brick and wood siding exterior; Composition roof; Slab foundation
• Exterior features: Fenced backyard; Cleared lot; Asphalt and concrete road access

Interior

• Kitchen: Gas range
• Bedrooms: Primary bedroom on first floor (approx. 12' x 10'); Bedroom on first floor (approx. 13' x 9'); Bedroom on first floor (approx. 10' x 9')
• Flooring: Laminate
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Laminate counters; Bath in primary bedroom; Kitchen/dining combo; 5 total rooms
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $276 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Cap rate 8.5% 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.

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: Lawson Middle (math 21% / reading 27%, grade F, #1,301 of 1,662 statewide, top 79%, 1,274 students, 96% FRL); Madison H S (math 9% / reading 17%, grade F, #1,537 of 1,632 statewide, top 94%, 1,924 students, 93% FRL) — zoned schools average 94% FRL vs 71% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 18% at this address vs 31% district-wide (-12 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 (-2.4%/yr); 135 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 35% of the median local income ($60k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 14 days on market — expect competitive offers; lowballing is unlikely to land.

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 $150,000

Questions for the listing agent

1. Built in 1972 — 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. 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.
6. 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.
7. 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: 1.17% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.89%
• DSCR: 1.35
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $203,040
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
14526 Littleford St	0.20mi	3/2.0	1,012 (-6%)	18mo	$190,000	$188	63
14411 Fleetwell Dr	0.46mi	3/2.0	1,049 (-3%)	12mo	$197,500	$188	62
3207 Westhampton Dr	0.53mi	3/1.5	1,131 (+5%)	9mo	$140,000	$124	60
3506 Prudence Dr	0.57mi	3/2.0	1,052 (-3%)	8mo	$149,999	$143	60
3735 Dalmatian Dr	0.56mi	3/2.0	1,042 (-4%)	13mo	$215,000	$206	55
3323 Ripplebrook Dr	0.60mi	3/1.5	1,108 (+3%)	18mo	$212,429	$192	53
3802 Simsbrook Dr	0.62mi	2/2.0 (-1)	1,024 (-5%)	9mo	$185,000	$181	48
3322 Westhampton Dr	0.58mi	3/1.0	1,164 (+8%)	13mo	$155,000	$133	47
14011 Fleetwell Dr	0.65mi	3/1.0	1,073 (-1%)	24mo	$149,900	$140	47
13119 Ridgewood Knoll Ln	0.74mi	3/2.0	1,206 (+12%)	2mo	$238,900	$198	42
15119 Insley St	0.72mi	3/1.0	1,025 (-5%)	20mo	$245,000	$239	39
3906 Simsbrook Dr	0.74mi	3/2.0	1,227 (+14%)	10mo	$230,000	$187	32

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -7.9%
• Equity multiple: 0.72×
• Total profit: $-11,771
• Equity at exit: $22,365

10-year hold

• IRR: -2.9%
• Equity multiple: 0.83×
• Total profit: $-7,133
• Equity at exit: $12,969

Cash invested: $42,000 (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 77045

• Home prices YoY: -7.4%
• Rents YoY: -2.4%
• Active inventory: 135
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,750 high
• Mortgage (P&I): −$787
• Tax from tax record: −$257 /mo · $3,084/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $276

Break-even live

Break-even rent $1,400

Max offer price $150,000

Occupancy floor 79%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
14435 Acuna Ln Houston, TX	3.0	2.0	1496	$1,805	$1.21	43d	1	0.13mi
15025 Alkay St Houston, TX	3.0	2.0	1162	$2,050	$1.76	22d	1	0.70mi
3215 Boynton Dr Houston, TX	4.0	2.0	1311	$1,599	$1.22	24d	1	0.73mi
3135 Kelling St Houston, TX	4.0	2.0	1311	$1,599	$1.22	22d	1	0.78mi
3239 Kelling St Houston, TX	4.0	2.0	1311	$1,589	$1.21	16d	1	0.79mi
3119 Kelling St Houston, TX	4.0	2.0	1311	$1,599	$1.22	43d	1	0.79mi
3103 Kelling St Houston, TX	4.0	2.0	1311	$1,619	$1.23	7d	1	0.79mi
3150 Kelling St Houston, TX	4.0	2.0	1311	$1,619	$1.23	7d	1	0.82mi
3234 Kelling St Houston, TX	4.0	2.0	1311	$1,599	$1.22	24d	1	0.82mi
6 W Orem Dr Houston, TX	2.0	2.0	1138	$1,380	$1.21	43d	1	1.37mi
2201 W Orem Dr Unit 2238 Houston, TX	2.0	2.0	1138	$1,578	$1.39	10d	1	1.41mi
2201 W Orem Dr Unit 2148 Houston, TX	2.0	2.0	1138	$1,546	$1.36	3d	1	1.41mi
2201 W Orem Dr Apt 424 Houston, TX	2.0	2.0	1138	$1,554	$1.37	7d	1	1.41mi
2201 W Orem Dr Unit 2238 Houston, TX	2.0	2.0	1138	$1,579	$1.39	43d	1	1.41mi
2201 W Orem Dr Unit 2047 Houston, TX	2.0	2.0	1138	$1,589	$1.40	11d	1	1.45mi

Listing history 10 events

1. 2026-06-17
   days on market $150,000 Pending 14 DOM
2. 2026-06-16
   days on market $150,000 Pending 13 DOM
3. 2026-06-15
   status $150,000 Pending 12 DOM
4. 2026-06-15
   days on market $150,000 Active 12 DOM
5. 2026-06-13
   days on market $150,000 Active 10 DOM
6. 2026-06-09
   days on market $150,000 Active 6 DOM
7. 2026-06-08
   days on market $150,000 Active 5 DOM
8. 2026-06-07
   days on market $150,000 Active 4 DOM
9. 2026-06-04
   remarks 559-char remark
10. 2026-06-04
    listed $150,000 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: $3,084 · $257/mo
• Projected year-2 tax: $3,084 · $257/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) · 51% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,998
• − Mortgage interest: −$8,402
• − Property taxes: −$3,084
• − Insurance: −$750
• − Repairs & maintenance: −$1,680
• − Management: −$1,680
• − Depreciation: −$4,364
• Taxable income: $1,038
• Est. tax owed @ 24.0%: −$249
• After-tax cash flow: $3,066/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): 33,563
• Household income: $59,688
• Rent vs Own: 38.9% rent · 61.1% own
• Severe rent burden: 803.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 54% Black 37% Two or more races 25% White 4% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Ukrainian 1% Lithuanian 1%
• Foreign-born: 23% · Canada, Jamaica, China
• Languages at home: 47% English-only · Spanish 49% Arabic 2% Tagalog/Filipino 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: ▼ -22.49%
• Current HPI: 282.5426
• Rent YoY: ▼ -2.35%
• 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

2 events — show timeline

• 2026-06-03 Listed $150,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+3.6%/yr

Latest (2025): $3,084 · +11.6% YoY. Source: county tax records.