22202 Maplewood Dr · Houston, TX 77449

$264,000

3 bd · 2.0 ba · 1,788 sqft · Manufactured public records · 103 Days on market

Built 1990 0.50 ac lot $148/sqft · 8% below area Est $287k · 8% under $40/mo HOA · 2% of rent

---

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 +17.2/30.0
• ARV discount +11.1/15.0
• Schools +5.7/10.0
• DSCR +5.4/10.0
• Appreciation +4.4/10.0
• 1% rule +4.2/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +1.8/5.0

Listing remarks MLS

Discover a prime opportunity along Grand Parkway 99, one of the fastest-growing corridors in the Houston area. This beautifully remodeled property combines modern updates with a peaceful country-style setting while remaining minutes from major highways, shopping, dining, and new developments. Situated on a spacious, private lot surrounded by mature trees, the home offers a serene outdoor environment with a bright, welcoming feel. Large windows and French doors allow abundant natural light and create a seamless connection to the outdoor patio area—perfect for entertaining or relaxing. The expansive yard provides excellent flexibility for outdoor living, future expansion, or value-add improvements. The property is fully fenced, offering privacy and security while maintaining its tranquil atmosphere. Located directly along the highly desirable Grand Parkway 99 corridor, this property sits in the path of rapid commercial and residential growth.

Key facts

• Private lot
• Fully fenced
• Expansive yard

Tags

• REMODELED PROPERTY
• PRIVATE LOT
• MATURE TREES
• OUTDOOR PATIO AREA
• EXPANSIVE YARD
• FULLY FENCED

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $264k.

Deal economics

• At list price, monthly cash flow is $188 ($2k/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 $242k (8.2% below list).
• Recommended offer: $240k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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.
• Katy ISD (suburban): math 61% / reading 63% proficiency, ranked #29 of 826 in TX (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-2.9%/yr); 744 active listings in the ZIP; 39 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).
• This rent runs 33% of the median local income ($88k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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

• It's been on market 103 days — a 9% lower offer ($240k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 12y 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

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $240,240 (9.0% below list)

Questions for the listing agent

1. It's been on market 103 days. Have you received any prior offers? Is the seller open to a 9% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 0.92% ✗
• Cap rate: 7.15%
• Cash-on-cash: 3.06%
• DSCR: 1.14
• GRM: 9.1

CMA / ARV

• ARV (median comp): $287,283
• List price: $264,000
• Delta: -8.10%
• Verdict: FAIR
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -5.9%
• Equity multiple: 0.75×
• Total profit: $-18,224
• Equity at exit: $60,311

10-year hold

• IRR: -1.6%
• Equity multiple: 0.87×
• Total profit: $-9,732
• Equity at exit: $60,466

Cash invested: $73,920 (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: 9.1×

Monthly cashflow live

• Estimated rent: $2,422 high
• Mortgage (P&I): −$1,384
• Tax from tax record: −$191 /mo · $2,293/yr
• Insurance: −$110
• HOA: −$40
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $188

Break-even live

Break-even rent $2,184

Max offer price $264,000

Occupancy floor 87%

Sensitivity live

Price	-10% $338	-5% $263	+0% $188	+5% $113	+10% $39
Rent	-10% $-3	-5% $93	+0% $188	+5% $284	+10% $380
Rate	-1.0pp $321	-0.5pp $255	base $188	+0.5pp $120	+1.0pp $50

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: $66,000
• Closing costs: $7,920
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22614 Terrazzo Dr Katy, TX	4.0	3.0	1873	$2,539	$1.36	13d	1	0.84mi
22616 Terrazzo Dr Katy, TX	4.0	3.0	1865	$2,539	$1.36	15d	1	0.84mi
22622 Terrazzo Dr Katy, TX	4.0	3.0	1873	$2,569	$1.37	44d	1	0.87mi
22628 Terrazzo Dr Katy, TX	4.0	2.5	2017	$2,659	$1.32	15d	1	0.87mi
22624 Terrazzo Dr Katy, TX	4.0	3.0	1865	$2,569	$1.38	44d	1	0.87mi
22712 Terrazzo Dr Katy, TX	3.0	2.5	1464	$2,179	$1.49	24d	1	0.88mi
22626 Terrazzo Dr Katy, TX	4.0	2.5	2004	$2,699	$1.35	44d	1	0.88mi
22728 Terrazzo Dr Katy, TX	3.0	2.5	1667	$2,369	$1.42	24d	1	0.89mi
22716 Terrazzo Dr Katy, TX	4.0	3.0	1865	$2,439	$1.31	5d	1	0.89mi
22718 Terrazzo Dr Katy, TX	4.0	3.0	1873	$2,439	$1.30	5d	1	0.90mi
22617 Terrazzo Dr Katy, TX	3.0	2.5	1464	$2,279	$1.56	44d	1	0.90mi
22720 Terrazzo Dr Katy, TX	4.0	2.5	2004	$2,559	$1.28	18d	1	0.91mi
22615 Terrazzo Dr Katy, TX	4.0	3.0	1865	$2,569	$1.38	44d	1	0.91mi
22722 Terrazzo Dr Katy, TX	4.0	2.5	2017	$2,559	$1.27	17d	1	0.91mi
22738 Terrazzo Dr Katy, TX	4.0	3.0	1873	$2,539	$1.36	20d	1	0.91mi
22613 Terrazzo Dr Katy, TX	4.0	3.0	1873	$2,569	$1.37	44d	1	0.91mi
22611 Terrazzo Dr Katy, TX	4.0	3.0	1865	$2,569	$1.38	44d	1	0.92mi
22717 Terrazzo Dr Katy, TX	4.0	2.5	2017	$2,629	$1.30	5d	1	0.92mi
22627 Terrazzo Dr Katy, TX	3.0	2.5	1464	$2,239	$1.53	5d	1	0.93mi
22629 Terrazzo Dr Katy, TX	3.0	2.5	1464	$2,239	$1.53	5d	1	0.93mi
22719 Terrazzo Dr Katy, TX	4.0	2.5	2004	$2,559	$1.28	18d	1	0.93mi
22824 Frassino Pl Katy, TX	4.0	2.5	2017	$2,629	$1.30	2d	1	0.94mi
22713 Terrazzo Dr Katy, TX	3.0	2.5	1667	$2,419	$1.45	13d	1	0.94mi
22737 Terrazzo Dr Katy, TX	4.0	3.0	1873	$2,649	$1.41	44d	1	0.95mi
22808 Terrazzo Dr Katy, TX	4.0	2.5	2004	$2,529	$1.26	17d	1	0.96mi
21522 Violet Ridge Rd Katy, TX	3.0	4.0	1597	$2,200	$1.38	44d	1	0.99mi
23030 Cunningham Falls Trl Katy, TX	1.0–3.0	1.0–2.0	1213	$2,900	$2.39	5d	244	1.01mi
22851 Terazzo Dr Katy, TX	3.0–4.0	2.5–3.0	1740	$2,239	$1.29	1d	1	1.02mi
22841 Terrazzo Dr Katy, TX	3.0	2.5	1464	$2,249	$1.54	5d	1	1.03mi
22865 Terrazzo Dr Katy, TX	4.0	2.5	2017	$2,759	$1.37	15d	1	1.04mi
22855 Terrazzo Dr Katy, TX	3.0	2.5	1667	$2,399	$1.44	13d	1	1.04mi
22700 Elyson Falls Dr Katy, TX	2.0–4.0	2.0–3.0	1658	$2,448	$1.48	3d	1	1.06mi
21331 Hartford Hollow Ln Katy, TX	3.0	2.0	1820	$1,500	$0.82	20d	1	1.08mi
5710 Fresh View Ct Katy, TX	4.0	2.5	2313	$2,495	$1.08	2d	1	1.16mi
5103 Visionary Dr Katy, TX	3.0–4.0	2.0–2.5	1692	$2,121	$1.25	2d	9	1.27mi
4411 Andorno Dr Katy, TX	4.0	2.0	2094	$2,221	$1.06	24d	1	1.36mi
5107 Jasper Garden Cir Katy, TX	3.0	2.0	1412	$1,825	$1.29	21d	1	1.43mi
22843 Castello Lakes Dr Katy, TX	4.0	2.0	2036	$2,148	$1.06	22d	1	1.45mi
21627 Calico Bush Trl Katy, TX	3.0	2.0	1423	$3,800	$2.67	17d	1	1.49mi

HOA detail

• Monthly dues: $40 · $480/yr
• Likely covers: security

Listing history 30 events

1. 2026-06-18
   days on market $264,000 Active 103 DOM
2. 2026-06-17
   days on market $264,000 Active 102 DOM
3. 2026-06-16
   days on market $264,000 Active 101 DOM
4. 2026-06-15
   days on market $264,000 Active 100 DOM
5. 2026-06-13
   days on market $264,000 Active 98 DOM
6. 2026-06-09
   days on market $264,000 Active 94 DOM
7. 2026-06-08
   days on market $264,000 Active 93 DOM
8. 2026-06-07
   days on market $264,000 Active 92 DOM
9. 2026-06-04
   days on market $264,000 Active 89 DOM
10. 2026-06-03
    days on market $264,000 Active 88 DOM
11. 2026-06-02
    days on market $264,000 Active 87 DOM
12. 2026-06-01
    days on market $264,000 Active 86 DOM
13. 2026-05-31
    days on market $264,000 Active 85 DOM
14. 2026-03-07
    listed $274,999 Active 960-char remark

    Show marketing remark (960 chars)

    Discover a prime opportunity along Grand Parkway 99, one of the fastest-growing corridors in the Houston area. This beautifully remodeled property combines modern updates with a peaceful country-style setting while remaining minutes from major highways, shopping, dining, and new developments. Situated on a spacious, private lot surrounded by mature trees, the home offers a serene outdoor environment with a bright, welcoming feel. Large windows and French doors allow abundant natural light and create a seamless connection to the outdoor patio area—perfect for entertaining or relaxing. The expansive yard provides excellent flexibility for outdoor living, future expansion, or value-add improvements. The property is fully fenced, offering privacy and security while maintaining its tranquil atmosphere. Located directly along the highly desirable Grand Parkway 99 corridor, this property sits in the path of rapid commercial and residential growth.

15. 2026-03-05
    historical
16. 2026-02-11
    listed $279,999 Active
17. 2025-12-27
    historical
18. 2025-09-26
    listed $285,000 Active
19. 2022-04-25
    soldstatus Sold
20. 2022-04-25
    soldstatus
21. 2022-04-12
    status Pending
22. 2022-03-28
    price $199,000
23. 2022-01-25
    price $2,130
24. 2021-11-11
    listed $230,000 Active
25. 2014-11-04
    historical
26. 2014-11-04
    soldstatus
27. 2014-11-03
    soldstatus Sold
28. 2014-10-14
    status Pending
29. 2014-09-20
    listed $99,000 Active
30. 1993-07-20
    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: $2,293 · $191/mo
• Projected year-2 tax: $4,831 · $403/mo
• Expected delta: +$2,538/yr (+$212/mo · 110.7%)

ⓘ 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) · 65% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,070
• − Mortgage interest: −$14,788
• − Property taxes: −$2,293
• − Insurance: −$1,320
• − Repairs & maintenance: −$2,326
• − Management: −$2,326
• − HOA: −$480
• − Depreciation: −$7,680
• Taxable loss: −$2,143
• Est. tax savings @ 24.0%: +$514
• After-tax cash flow: $2,773/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: Katy ISD
• NCES district ID: 4825170
• Math proficiency: 61% ▼ -7.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $90,312
• Composite: 56.59/100
• National rank: #1146
• State rank: #29 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

+177.8% since first listed

17 events — show timeline

• 2026-03-07 Listed $274,999 HARMLS
• 2026-03-05 Listing Removed — HARMLS
• 2026-02-11 Listed $279,999 HARMLS
• 2025-12-27 Listing Removed — HARMLS
• 2025-09-26 Listed $285,000 HARMLS
• 2022-04-25 Sold (Public Records) — Public Records
• 2022-04-25 Sold (MLS) — HARMLS
• 2022-04-12 Pending — HARMLS
• 2022-03-28 Price Changed $199,000 HARMLS
• 2022-01-25 Price Changed $2,130 RENT.
• 2021-11-11 Listed $230,000 HARMLS
• 2014-11-04 Listing Removed — HARMLS
• 2014-11-04 Sold (Public Records) — Public Records
• 2014-11-03 Sold (MLS) — HARMLS
• 2014-10-14 Pending — HARMLS
• 2014-09-20 Listed $99,000 HARMLS
• 1993-07-20 Sold (Public Records) — Public Records

Property tax history

+7.6%/yr

Latest (2025): $2,293 · +11.2% YoY. Source: county tax records.