1114 Blackwood Ave · Aldine, TX 77032

$135,000

3 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 2 Days on market

Built 1950 8,881 sqft lot $120/sqft · 30% below area Est $193k · 30% under ↓ 41% since listing

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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 +21.7/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +5.9/10.0
• Appreciation +4.8/10.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +1.5/10.0

Listing remarks

Welcome to Aldine Meadows! This charming 3-bedroom, 1-bath home sits on a spacious, UNRESTRICTED lot, offering endless possibilities for outdoor living, gardening, future additions, or even a workshop. Conveniently located with easy access to Beltway 8, this property is just minutes from local schools, shopping, and the airport. The home features numerous recent renovations, including brand-new flooring, fresh paint, updated doors and windows, modern cabinetry, and a beautifully renovated bathroom. With move-in-ready updates and the freedom to make the property your own, this is an incredible opportunity to own a home with space, flexibility, and a prime location. No HOA

Key facts

• Unrestricted lot
• Updated windows
• Recent renovations

Tags

• UNRESTRICTED LOT
• NO HOA
• OUTDOOR LIVING
• RECENT RENOVATIONS
• UPDATED DOORS
• UPDATED WINDOWS

Property features AI

Finance

• Financial info: Lease not considered

Exterior

• Parking: No parking
• Utilities: Septic tank
• Home design: Residential property; Faces north; Built in 1950
• Construction: Block foundation; Composition roof; Construction materials: Unknown
• Exterior features: Back yard fencing; Fenced yard; Property backs to greenbelt/park

Interior

• Kitchen: Gas cooktop; Gas oven
• Bedrooms: Three bedrooms total — two bedrooms (first floor), primary bedroom (first floor)
• Bathrooms: One full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Washer hookup and gas dryer hookup; Seller disclosure
• Laundry & utility: Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $-218 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $96k (28.5% below list).
• Meets the 1% rule at list price ($1k rent vs $135k).
• Recommended offer: $96k (28.5% below list) — sets the bar for cash-flow.
• Cap rate 8.1% vs local median 3.1% in Aldine — 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 56/100 on livability (#1,332 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime F, amenities F, commute F.
• Aldine ISD (suburban): math 16% / reading 21% proficiency, ranked #790 of 826 in TX (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Raymond El (math 10% / reading 9%, grade F, #4,291 of 4,322 statewide, top 99%, 434 students, 96% FRL); Aldine Middle (math 8% / reading 19%, grade F, #1,602 of 1,662 statewide, top 97%, 785 students, 91% FRL); Aldine H S (math 15% / reading 20%, grade F, #1,451 of 1,632 statewide, top 89%, 2,663 students, 94% FRL).
• Market conditions: Rents soft (-1.5%/yr); 43 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 40% of the median local income ($44k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $404 of equity ($933 loan paydown + $-529 appreciation (-0.4% local appreciation)).
• 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.
• 8 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.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $96,475 (28.5% 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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-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: 1.09% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.62%
• DSCR: 1.29
• GRM: 7.7

CMA / ARV

• ARV (median comp): $193,038
• List price: $135,000
• Delta: -22.81%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-0.39% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.36×
• Total profit: $-24,308
• Equity at exit: $36,575

10-year hold

• IRR: -11.7%
• Equity multiple: -0.04×
• Total profit: $-39,487
• Equity at exit: $41,922

Cash invested: $37,800 (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 77032

• Home prices YoY: -0.1%
• Rents YoY: -1.5%
• Active inventory: 43
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,466 high
• Mortgage (P&I): −$708
• Tax from tax record: −$186 /mo · $2,227/yr
• Insurance: −$56
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $-218

Break-even live

Break-even rent $1,742

Max offer price $96,475

Occupancy floor —

Sensitivity live

Price	-10% $-142	-5% $-180	+0% $-218	+5% $-256	+10% $-294
Rent	-10% $-334	-5% $-276	+0% $-218	+5% $-160	+10% $-102
Rate	-1.0pp $-150	-0.5pp $-184	base $-218	+0.5pp $-253	+1.0pp $-289

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15136 Aldine Westfield Rd Houston, TX	2.0	2.0	928	$1,499	$1.62	45d	1	0.89mi
15130 Aldine Westfield Rd Houston, TX	2.0	2.0	940	$1,260	$1.34	45d	1	0.92mi
655 N Sam Houston Pkwy E Unit 712 Houston, TX	2.0	2.0	800	$1,115	$1.39	14d	1	1.01mi
2200 N Sam Houston Pkwy E Houston, TX	1.0–2.0	1.0–2.0	944	$1,710	$1.81	0d	24	1.04mi
1000 Greens Rd Houston, TX	1.0–2.0	1.0–2.0	753	$986	$1.31	45d	31	1.50mi
1000 Greens Rd Houston, TX	1.0–2.0	1.0–2.0	753	$944	$1.25	1d	21	1.50mi

Listing history 22 events

1. 2026-06-15
   status $135,000 Pending 2 DOM
2. 2026-06-13
   days on market $135,000 Active 2 DOM
3. 2026-06-13
   pricedays on marketlisting id $135,000 Active 1 DOM
4. 2026-06-10
   status $149,000 Active 109 DOM
5. 2026-05-14
   status Pending 679-char remark
6. 2026-05-02
   price $149,000 679-char remark
7. 2026-04-16
   status Active 679-char remark
8. 2026-04-08
   status Pending 679-char remark
9. 2026-02-03
   listed $159,000 Active 679-char remark
10. 2026-01-02
    historical $1,450
11. 2025-12-31
    historical
12. 2025-12-06
    listed $1,450
13. 2025-10-14
    listed $175,000 Active
14. 2025-09-30
    historical
15. 2025-08-19
    price $200,000
16. 2025-07-01
    price $205,000
17. 2025-06-18
    status Active
18. 2025-05-27
    status Pending, Continue to Show
19. 2025-04-21
    price $215,000
20. 2025-03-14
    listed $230,000 Active
21. 2004-11-02
    soldstatus
22. 2000-05-19
    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: $2,227 · $186/mo
• Projected year-2 tax: $2,470 · $206/mo
• Expected delta: +$244/yr (+$20/mo · 10.9%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 74% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,593
• − Mortgage interest: −$7,562
• − Property taxes: −$2,227
• − Insurance: −$5,794
• − Repairs & maintenance: −$1,407
• − Management: −$1,407
• − Depreciation: −$3,927
• Taxable loss: −$4,731
• Est. tax savings @ 24.0%: +$1,135
• After-tax cash flow: $-1,481/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: Aldine ISD
• NCES district ID: 4807710
• Math proficiency: 16% ▼ -23.00%
• Reading proficiency: 21% ▼ -11.00%
• Median HH income: $37,081
• Composite: 15.42/100
• National rank: #9317
• State rank: #790 of 826 in TX

Livability — Aldine

• Score: 56/100
• State rank: #1332
• US rank: #22958

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment F Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Aldine, TX
• County: Harris County · 4,702,590 people
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 12,403
• Household income: $43,725
• Rent vs Own: 65.7% rent · 34.3% own
• Severe rent burden: 944.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 48% Black 37% Two or more races 22% White 8% Native American 2%
• Hispanic origin (detail): Mexican 39%
• Common ancestry: Slovak 2%
• Foreign-born: 24% · Canada, China
• Languages at home: 58% English-only · Spanish 42%

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: ▼ -0.39%
• Current HPI: 336.6839
• Rent YoY: ▼ -1.51%
• 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

-41.3% since first listed

23 events — show timeline

• 2026-06-13 Pending — HARMLS
• 2026-06-12 Listed $135,000 HARMLS
• 2026-06-09 Relisted — HARMLS
• 2026-06-04 Listing Removed — HARMLS
• 2026-05-23 Pending — HARMLS
• 2026-05-14 Pending — HARMLS
• 2026-05-02 Price Changed $149,000 HARMLS
• 2026-04-16 Relisted — HARMLS
• 2026-04-08 Pending — HARMLS
• 2026-02-03 Listed $159,000 HARMLS
• 2026-01-02 Rental Removed $1,450 HARMLS
• 2025-12-31 Listing Removed — HARMLS
• 2025-12-06 Listed for Rent $1,450 HARMLS
• 2025-10-14 Listed $175,000 HARMLS
• 2025-09-30 Listing Removed — HARMLS
• 2025-08-19 Price Changed $200,000 HARMLS
• 2025-07-01 Price Changed $205,000 HARMLS
• 2025-06-18 Relisted — HARMLS
• 2025-05-27 Pending — HARMLS
• 2025-04-21 Price Changed $215,000 HARMLS
• 2025-03-14 Listed $230,000 HARMLS
• 2004-11-02 Sold (Public Records) — Public Records
• 2000-05-19 Sold (Public Records) — Public Records

Property tax history

+12.3%/yr

Latest (2025): $2,227 · +20.0% YoY. Source: county tax records.