6522 New World Dr · Houston, TX 77449

$224,900

3 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 2 Days on market

Built 1983 7,318 sqft lot Est $210k · 7% over $28/mo HOA · 1% of rent

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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 +11.1/30.0
• Appreciation +4.4/10.0
• Schools +4.4/10.0
• ARV discount +4.3/15.0
• 1% rule +4.0/10.0
• Livability +3.7/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0

Listing remarks

Beautifully updated 2-bedroom, 2-bath residence showcasing a fresh, modern design. The thoughtful layout creates a seamless flow between the kitchen and open living area, highlighted by a cozy fireplace that serves as the focal point of the home. Recent improvements include attractive tile surfaces, newly installed luxury vinyl flooring, an updated kitchen backsplash, newly painted cabinets and a refreshed bath surround. The versatile garage offers endless possibilities, functioning as a traditional two-car space or providing the opportunity for additional finished square footage to suit your needs. Zoned to CYFAIR schools, with Walker Elem school just a couple of blocks away in the neighbo

Key facts

• Community pool
• Walking distance
• Modern design

Tags

• MODERN DESIGN
• COZY FIREPLACE
• UPDATED KITCHEN BACKSPLASH
• REFRESHED BATH SURROUND
• COMMUNITY POOL
• WALKING DISTANCE

Property features AI

Finance

• Other: Association fee amount listed (annual)
• HOA & community: Association: Crest Management; Association amenities include a pool, playground, and park; Association fee collected annually

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 1983; Slab foundation
• Construction: Brick construction; Composition roof
• Exterior features: Deck; Patio; Fenced backyard

Interior

• Kitchen: Dishwasher; Disposal; Gas oven; Gas range
• Bedrooms: Primary bedroom on the first floor (approx. 12x12); Second bedroom on the first floor (approx. 12x12)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: One fireplace; Total of 2 rooms
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-92 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $209k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (10.5% below list).
• Recommended offer: $201k (10.5% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.1% 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.
• Cypress-Fairbanks ISD (suburban): math 45% / reading 52% proficiency, ranked #161 of 826 in TX (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Rowe Middle (math 26% / reading 44%, grade F, #842 of 1,662 statewide, top 51%, 1,310 students, 80% FRL); Cypress Park H S (math 41% / reading 49%, grade D-, #643 of 1,632 statewide, top 40%, 2,960 students, 75% FRL) — zoned schools average 78% FRL vs 43% district-wide (35 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-2.9%/yr); 744 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 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 (-1.3%/yr); year-one equity from $2k of loan paydown is wiped out by about $3k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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 $51k; list at $225k implies a 341% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,340 (10.5% 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. 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. 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?
7. 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.
8. 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.
9. 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: 0.90% ✗
• Cap rate: 5.80%
• Cash-on-cash: -1.74%
• DSCR: 0.92
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $210,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6450 New World Dr	0.10mi	2/1.5 (-1)	1,176 (-2%)	2mo	$218,000	$185	84
20648 Patriot Park Ln	0.42mi	3/2.0	1,204 (+0%)	2mo	$224,900	$187	78
6635 Rusty Ridge Ln	0.56mi	3/2.0	1,206 (+0%)	2mo	$205,000	$170	72
20603 Sycamore Crest Ln	0.61mi	3/2.0	1,201 (+0%)	2mo	$164,990	$137	69
20918 Walder Ct	0.28mi	3/2.0	1,316 (+10%)	3mo	$219,600	$167	68
6723 Highwind Bend Ln	0.42mi	3/2.0	1,235 (+3%)	10mo	$218,400	$177	68
6626 Rusty Ridge Ln	0.59mi	3/2.0	1,216 (+1%)	8mo	$208,000	$171	64
20515 Sycamore Crest Ln	0.68mi	3/2.0	1,199 (-0%)	9mo	$225,000	$188	60
6233 Lone Prairie Way	0.65mi	3/2.5	1,260 (+5%)	7mo	$219,900	$175	54
21170 Northern Colony Ct	0.39mi	3/2.0	1,375 (+15%)	4mo	$225,000	$164	54
6318 Torrance Elms Ct	0.52mi	3/2.5	1,044 (-13%)	2mo	$216,000	$207	50
6205 Lone Prairie Way	0.63mi	3/2.5	1,336 (+11%)	5mo	$215,000	$161	46

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

Projected returns pro-forma

-1.27% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.1%
• Equity multiple: 0.50×
• Total profit: $-31,289
• Equity at exit: $51,379

10-year hold

• IRR: -8.4%
• Equity multiple: 0.34×
• Total profit: $-41,577
• Equity at exit: $51,511

Cash invested: $62,972 (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 77449

• Home prices YoY: -0.5%
• Rents YoY: -2.9%
• Active inventory: 744
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,013 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$381 /mo · $4,572/yr
• Insurance: −$94
• HOA: −$28
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $-92

Break-even live

Break-even rent $2,129

Max offer price $208,734

Occupancy floor 100%

Sensitivity live

Price	-10% $36	-5% $-28	+0% $-92	+5% $-155	+10% $-219
Rent	-10% $-251	-5% $-171	+0% $-92	+5% $-12	+10% $68
Rate	-1.0pp $22	-0.5pp $-34	base $-92	+0.5pp $-150	+1.0pp $-209

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21035 Carmel Valley Dr Katy, TX	3.0	2.0	1431	$1,791	$1.25	25d	1	0.25mi
20507 Barker Bend Ct Katy, TX	3.0	2.0	1488	$1,825	$1.23	44d	1	0.38mi
20967 Young Meadows Way Katy, TX	3.0	2.0	1256	$1,795	$1.43	8d	1	0.46mi
6619 Rusty Ridge Ln Katy, TX	3.0	2.5	1450	$1,895	$1.31	4d	1	0.57mi
6810 N Fry Rd Katy, TX	1.0–3.0	1.0–3.0	1151	$2,683	$2.33	0d	58	0.59mi
20978 Farm to Market Road 529 Cypress, TX	2.0	2.0	1025	$1,725	$1.68	44d	1	0.72mi
20978 Farm to Market Road 529 Unit SWFS2 Cypress, TX	2.0	2.0	1025	$1,725	$1.68	3d	1	0.72mi
21627 Calico Bush Trl Katy, TX	3.0	2.0	1423	$3,800	$2.67	17d	1	0.77mi
6010 Diantha St Katy, TX	3.0	2.0	1465	$1,856	$1.27	44d	1	0.77mi
21447 FM 529 Rd Cypress, TX	1.0–3.0	1.0–2.0	996	$2,205	$2.21	0d	28	0.81mi
6502 Wellington Meadows Dr Katy, TX	3.0	2.0	1416	$1,500	$1.06	13d	1	0.88mi
19735 Plantation Grove Trl Katy, TX	3.0	2.0	1404	$1,719	$1.22	3d	1	1.25mi
19903 Mountain Dale Dr Cypress, TX	3.0	2.0	1356	$1,896	$1.40	0d	1	1.30mi
21054 Montego Breeze Ln Cypress, TX	3.0–5.0	2.0–3.5	1935	$2,199	$1.14	13d	21	1.31mi
19501 W Little York Rd Katy, TX	2.0	2.0	990	$1,250	$1.26	44d	1	1.33mi
19501 W Little York Rd Katy, TX	2.0	2.0	990	$1,250	$1.26	25d	1	1.33mi
19917 Stoney Haven Dr Cypress, TX	2.0	1.5	1060	$1,579	$1.49	44d	1	1.34mi
19434 Glenway Falls Dr Katy, TX	3.0	2.0	1326	$1,800	$1.36	44d	1	1.41mi

HOA detail

• Monthly dues: $28 · $336/yr

Listing history 3 events

1. 2026-06-18
   days on market $224,900 Active 2 DOM
2. 2026-06-16
   remarks 699-char remark
3. 2026-06-16
   listed $224,900 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: $4,572 · $381/mo
• Projected year-2 tax: $4,572 · $381/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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $24,161
• − Mortgage interest: −$12,598
• − Property taxes: −$4,572
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,933
• − Management: −$1,933
• − HOA: −$336
• − Depreciation: −$6,543
• Taxable loss: −$4,878
• Est. tax savings @ 24.0%: +$1,171
• After-tax cash flow: $72/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: Cypress-Fairbanks ISD
• NCES district ID: 4816110
• Math proficiency: 45% ▼ -12.00%
• Reading proficiency: 52% ▼ -2.00%
• Median HH income: $72,025
• Composite: 43.63/100
• National rank: #2968
• State rank: #161 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): 130,028
• Household income: $87,808
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 3088.0

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 0.68)
• Race & ethnicity: Hispanic / Latino 49% Two or more races 22% Black 20% White 19% Asian 6%
• Hispanic origin (detail): Mexican 26% Puerto Rican 1% Cuban 4%
• Common ancestry: Lithuanian 1% Italian 1%
• Foreign-born: 32% · Canada, Jamaica, Vietnam
• Languages at home: 48% English-only · Spanish 40% Other Indo-European 3% Vietnamese 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: ▼ -1.27%
• Current HPI: 254.6622
• Rent YoY: ▼ -2.86%
• 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

+341.0% since first listed

5 events — show timeline

• 2026-06-15 Listed $224,900 HARMLS
• 2024-05-18 Rental Removed $2,150 HARMLS
• 2024-02-29 Listed for Rent $2,150 HARMLS
• 1999-09-03 Sold (Public Records) — Public Records
• 1999-09-01 Sold (Public Records) $51,000 Public Records

Property tax history

+3.4%/yr

Latest (2025): $4,572 · -4.5% YoY. Source: county tax records.