12906 Gladden Dr · Houston, TX 77049

$178,500

3 bd · 2.0 ba · 944 sqft · Manufactured public records · 52 Days on market

Built 1971 Good condition 9,600 sqft lot $189/sqft · at area comps Est $190k · 6% under

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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 +12.0/30.0
• ARV discount +10.2/15.0
• Appreciation +4.4/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• 1% rule +3.2/10.0
• Schools +2.0/10.0
• Rent growth +1.7/5.0

Listing remarks

Step into a refreshed and easy living 2 bedroom home designed for comfort and simplicity. Freshly painted throughout the home, . The open floor concept layout creates a bright, airy flow giving a great open space. Each bedroom offers generous space and natural light, making it ideal for relaxing at the end of the day. Enjoy everyday convenience with central HVAC and washer/dryer connections already in place. HUGE backyard adds even more value, perfect for quiet mornings or casual gatherings.

Key facts

• Central hvac
• Open floor concept
• Huge backyard

Tags

• OPEN FLOOR CONCEPT
• CENTRAL HVAC
• WASHER DRYER CONNECTIONS
• HUGE BACKYARD

Property features AI

Finance

• Other: Seller disclosure available

Exterior

• Parking: Attached carport; Detached carport; 2-space carport
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 1971; Entry on slab foundation
• Construction: Cement siding; Composition roof; Slab foundation
• Exterior features: Private yard; Cleared lot; Located in a subdivision; Asphalt road access

Interior

• Kitchen: Dishwasher; Electric oven; Garbage disposal
• Bedrooms: 2 possible bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Kitchen open to family room

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $178k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-41 ($-496/yr) — negative.
• To cash-flow at today's rent, offer at most $171k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (18.1% below list).
• Recommended offer: $146k (18.1% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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: crime F.
• Sheldon ISD (suburban): math 19% / reading 25% proficiency, ranked #746 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 72% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Royalwood El (math 33% / reading 33%, grade F, #2,208 of 4,322 statewide, top 52%, 554 students, 89% FRL); C E King Middle (math 13% / reading 24%, grade F, #1,478 of 1,662 statewide, top 90%, 1,311 students, 90% FRL); C E King H S (math 19% / reading 30%, grade F, #1,264 of 1,632 statewide, top 82%, 3,473 students, 82% FRL) — zoned schools average 87% FRL vs 72% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents falling (-3.3%/yr); 159 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 (-1.2%/yr); year-one equity from $1k of loan paydown is wiped out by about $2k 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

• It's been on market 52 days — a 3% lower offer ($173k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $146,167 (18.1% below list)

Questions for the listing agent

1. 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?
2. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.82% ✗
• Cap rate: 6.01%
• Cash-on-cash: -0.99%
• DSCR: 0.96
• GRM: 10.2

CMA / ARV

• ARV (median comp): $189,811
• List price: $178,500
• Delta: -5.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-1.2% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.6%
• Equity multiple: 0.56×
• Total profit: $-21,997
• Equity at exit: $41,345

10-year hold

• IRR: -6.5%
• Equity multiple: 0.47×
• Total profit: $-26,240
• Equity at exit: $41,948

Cash invested: $49,980 (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 77049

• Home prices YoY: -0.5%
• Rents YoY: -3.3%
• Active inventory: 159
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,462 high
• Mortgage (P&I): −$936
• Tax from tax record: −$186 /mo · $2,228/yr
• Insurance: −$74
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-41

Break-even live

Break-even rent $1,514

Max offer price $171,193

Occupancy floor 98%

Sensitivity live

Price	-10% $60	-5% $9	+0% $-41	+5% $-92	+10% $-142
Rent	-10% $-157	-5% $-99	+0% $-41	+5% $16	+10% $74
Rate	-1.0pp $49	-0.5pp $4	base $-41	+0.5pp $-88	+1.0pp $-135

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: $44,625
• Closing costs: $5,355
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6415 S Lake Houston Pkwy Unit Plan C Houston, TX	2.0	2.0	980	$1,225	$1.25	45d	1	0.82mi
5830 S Lake Houston Pkwy Unit 2165 Houston, TX	2.0	2.0	863	$1,073	$1.24	1d	1	1.11mi
5830 S Lake Houston Pkwy Unit 2162 Houston, TX	2.0	2.0	863	$1,089	$1.26	6d	1	1.11mi
5830 S Lake Houston Pkwy Unit 5887 Houston, TX	2.0	2.0	863	$1,113	$1.29	12d	1	1.12mi
7100 Uvalde Rd Houston, TX	1.0–3.0	1.0–2.0	1066	$2,229	$2.09	0d	16	1.25mi
5836 S Lake Houston Pkwy Houston, TX	3.0	2.0	1052	$1,289	$1.23	24d	1	1.34mi
5836 S Lake Houston Pkwy Houston, TX	2.0	2.0	954	$1,094	$1.15	20d	1	1.34mi
5836 S Lake Houston Pkwy Houston, TX	3.0	2.0	1052	$1,289	$1.23	45d	1	1.34mi
7110 New Forest Pkwy Houston, TX	1.0–2.0	1.0–2.0	951	$1,725	$1.81	0d	20	1.41mi

Listing history 18 events

1. 2026-06-21
   days on market $178,500 Active 52 DOM
2. 2026-06-18
   days on market $178,500 Active 49 DOM
3. 2026-06-17
   days on market $178,500 Active 48 DOM
4. 2026-06-16
   days on market $178,500 Active 47 DOM
5. 2026-06-15
   days on market $178,500 Active 46 DOM
6. 2026-06-13
   days on market $178,500 Active 44 DOM
7. 2026-06-09
   days on market $178,500 Active 40 DOM
8. 2026-06-08
   days on market $178,500 Active 39 DOM
9. 2026-06-07
   days on market $178,500 Active 38 DOM
10. 2026-06-04
    days on market $178,500 Active 35 DOM
11. 2026-06-03
    days on market $178,500 Active 34 DOM
12. 2026-06-02
    days on market $178,500 Active 33 DOM
13. 2026-06-01
    days on market $178,500 Active 32 DOM
14. 2026-05-31
    days on market $178,500 Active 31 DOM
15. 2026-04-30
    listed $178,500 Active 495-char remark
16. 2026-04-26
    historical $1,750
17. 2026-03-11
    listed $1,750
18. 2024-05-09
    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: $2,228 · $186/mo
• Projected year-2 tax: $3,267 · $272/mo
• Expected delta: +$1,039/yr (+$87/mo · 46.6%)

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

Taxation est. · year 1

• Rental income: $17,540
• − Mortgage interest: −$9,999
• − Property taxes: −$2,228
• − Insurance: −$892
• − Repairs & maintenance: −$1,403
• − Management: −$1,403
• − Depreciation: −$5,193
• Taxable loss: −$3,578
• Est. tax savings @ 24.0%: +$859
• After-tax cash flow: $362/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.

Condition & rehab AI · 11 photos

Good 80/100 Cosmetic rehab

This home is in good condition with recent updates, including new flooring, cabinets, and paint. The large backyard adds significant value and potential for rental income.

Value-add opportunities

• Both landscaping — enhances curb appeal and adds value
• Both painting — fresh paint improves curb appeal and interior aesthetics
• Both landscaping — landscaping enhances curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both landscaping — enhances curb appeal and adds value ↑
• Both painting — fresh paint improves curb appeal and interior aesthetics ↑
• Both landscaping — landscaping enhances curb appeal and adds value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Sheldon ISD
• NCES district ID: 4839990
• Math proficiency: 19% ▼ -18.00%
• Reading proficiency: 25% ▼ -10.00%
• Median HH income: $49,443
• Composite: 19.5/100
• National rank: #8772
• State rank: #746 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): 40,418
• Household income: $62,971
• Rent vs Own: 32.1% rent · 67.9% own
• Severe rent burden: 993.0

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: Predominantly Hispanic (66%)
• Race & ethnicity: Hispanic / Latino 66% Two or more races 32% Black 19% White 10% Asian 3%
• Hispanic origin (detail): Mexican 55%
• Common ancestry: Lithuanian 1%
• Foreign-born: 26% · Canada, China, Vietnam
• Languages at home: 43% English-only · Spanish 54% Other Asian/Pacific 1% Chinese 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: ▼ -1.20%
• Current HPI: 248.1111
• Rent YoY: ▼ -3.31%
• 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

+10100.0% since first listed

4 events — show timeline

• 2026-04-30 Listed $178,500 HARMLS
• 2026-04-26 Rental Removed $1,750 HARMLS
• 2026-03-11 Listed for Rent $1,750 HARMLS
• 2024-05-09 Sold (Public Records) — Public Records

Property tax history

+122.5%/yr

Latest (2025): $2,228 · +122.5% YoY. Source: county tax records.