8702 Parkway Forest Dr · Houston, TX 77044

$145,000

3 bd · 2.0 ba · 1,401 sqft · SingleFamily public records · 8 Days on market

Built 1979 8,633 sqft lot $103/sqft · 26% below area Est $196k · 26% under

---

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 +15.3/30.0
• ARV discount +15.0/15.0
• 1% rule +6.0/10.0
• DSCR +4.7/10.0
• Appreciation +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0

Listing remarks

Charming 1 story brick home featuring 3 bedrooms, 2 bathrooms, and a 2-car garage. This property offers a functional layout and sits on a nice sized backyard, perfect for outdoor enjoyment or future improvements. Home is being sold as a fixer upper and will require repairs, which are reflected in the current sales price, presenting a great opportunity for investors or buyers looking to customize and add value. Property is being sold as-is.

Key facts

• 8,633 sq ft lot
• 2 garage spots
• Built 1979

Property features AI

Finance

• Other: Seller disclosure available
• HOA & community: Member of New POA of Newport Inc

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 1979; Slab foundation
• Construction: Brick construction; Composition roof
• Exterior features: Cleared lot

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: One fireplace; 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-12 ($-150/yr) — negative.
• To cash-flow at today's rent, offer at most $143k (1.5% below list).
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $143k (1.5% below list) — sets the bar for cash-flow.
• Cap rate 6.7% 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.
• 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: C E King Middle (math 13% / reading 24%, grade F, #1,478 of 1,662 statewide, top 90%, 1,311 students, 90% FRL) — zoned schools average 90% FRL vs 72% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 337 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 (-1.6%/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

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 24y 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 $30k; list at $145k implies a 385% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; flood insurance adds $66/mo.
• Climate carrying-cost: major 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 $142,793 (1.5% 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 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.10% ✓
• Cap rate: 6.74%
• Cash-on-cash: 1.59%
• DSCR: 1.07
• GRM: 7.6

CMA / ARV

• ARV (median comp): $196,213
• List price: $145,000
• Delta: -26.10%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8702 Parkway Forest Dr	0.00mi	3/2.0	1,401 (0%)	1mo	$145,000	$103	100
8630 Winewood Dr	0.22mi	3/2.0	1,424 (+2%)	2mo	$224,000	$157	86
12619 Fern Forest Dr	0.26mi	3/2.0	1,313 (-6%)	1mo	$230,000	$175	77
12426 Enchanted Path Dr	0.26mi	3/2.0	1,313 (-6%)	4mo	$210,000	$160	74
8639 Pearl Point St	0.41mi	3/2.0	1,354 (-3%)	5mo	$187,999	$139	71
12823 Northchase Ridge Ln	0.68mi	3/2.0	1,413 (+1%)	6mo	$110,000	$78	62
12426 Garden Gale Ln	0.65mi	3/2.0	1,364 (-3%)	5mo	$204,900	$150	61
12326 Garden Gale Ln	0.74mi	3/2.0	1,364 (-3%)	2mo	$169,900	$125	59
12822 Crystal Cove Dr	0.40mi	3/2.0	1,597 (+14%)	2mo	$220,000	$138	56
12415 Garden Gale Ln	0.69mi	3/2.0	1,494 (+7%)	3mo	$220,000	$147	55
12915 Crystal Cove Dr	0.50mi	3/2.0	1,597 (+14%)	1mo	$174,900	$110	53
9030 Sable Terrace Ln	0.70mi	3/2.0	1,506 (+8%)	8mo	$249,900	$166	48

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

Projected returns pro-forma

-1.59% appreciation · 0.92% rent growth · sell at horizon

5-year hold

• IRR: -11.4%
• Equity multiple: 0.54×
• Total profit: $-18,593
• Equity at exit: $30,967

10-year hold

• IRR: -6.9%
• Equity multiple: 0.47×
• Total profit: $-21,338
• Equity at exit: $29,194

Cash invested: $40,600 (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 77044

• Home prices YoY: -0.7%
• Rents YoY: 0.9%
• Active inventory: 337
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,600 high
• Mortgage (P&I): −$760
• Tax from tax record: −$389 /mo · $4,671/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $-12

Break-even live

Break-even rent $1,616

Max offer price $142,793

Occupancy floor 96%

Sensitivity live

Price	-10% $70	-5% $29	+0% $-12	+5% $-54	+10% $-95
Rent	-10% $-139	-5% $-76	+0% $-12	+5% $51	+10% $114
Rate	-1.0pp $61	-0.5pp $24	base $-12	+0.5pp $-50	+1.0pp $-88

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15 Parkway Forest Dr Houston, TX	3.0	2.0	1116	$1,279	$1.15	25d	1	0.02mi
15 Parkway Forest Dr Houston, TX	2.0	2.0	906	$1,069	$1.18	44d	1	0.02mi
15 Parkway Forest Dr Houston, TX	2.0	2.0	906	$1,069	$1.18	19d	1	0.02mi
12635 Tidwell Rd Houston, TX	2.0	2.0	945	$1,177	$1.25	44d	7	0.07mi
12703 Enchanted Path Dr Houston, TX	3.0	2.0	1432	$1,701	$1.19	13d	1	0.22mi
12610 Fern Forest Dr Houston, TX	3.0	2.0	1196	$1,736	$1.45	44d	1	0.24mi
12539 Fern Forest Dr Houston, TX	3.0	2.0	1192	$1,750	$1.47	5d	1	0.27mi
12324 Tidwell Rd Houston, TX	3.0	2.0	1170	$1,254	$1.07	25d	1	0.43mi
12212 Tidwell Rd Houston, TX	1.0–3.0	1.0–2.0	949	$1,315	$1.39	6d	15	0.44mi
9418 Belleclaire Ln Houston, TX	3.0	2.0	1424	$1,950	$1.37	25d	1	0.64mi
12319 Garden Gale Ln Houston, TX	3.0	2.0	1716	$1,766	$1.03	6d	1	0.76mi
12227 Ghita Ln Houston, TX	3.0	2.0	1433	$1,750	$1.22	44d	1	0.89mi
12315 Roy Mix Bohn Ln Houston, TX	3.0	2.0	1433	$1,750	$1.22	44d	1	0.95mi
13206 Clifton Hill Ln Houston, TX	3.0	2.0	1632	$2,500	$1.53	18d	1	0.99mi
10007 Copper Hollow Ln Houston, TX	4.0	2.0	1773	$1,700	$0.96	45d	1	1.00mi
10306 White Fir Villa Ave Houston, TX	3.0	2.0	1560	$2,100	$1.35	44d	1	1.31mi

Listing history 6 events

1. 2026-05-14
   listed $145,000 Active 443-char remark
2. 2003-10-09
   soldstatus
3. 2003-04-30
   historical
4. 2002-11-07
   listed $80,000
5. 2000-01-14
   soldstatus
6. 1990-10-01
   soldstatus $29,900

ⓘ 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: $4,671 · $389/mo
• Projected year-2 tax: $4,671 · $389/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 7/10 Severe FEMA zone X (unshaded) · 98% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,201
• − Mortgage interest: −$8,122
• − Property taxes: −$4,671
• − Insurance: −$1,522
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$4,218
• Taxable loss: −$2,406
• Est. tax savings @ 24.0%: +$577
• After-tax cash flow: $427/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: 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): 58,347
• Household income: $95,000
• Rent vs Own: 24.1% rent · 75.9% own
• Severe rent burden: 1332.0

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 0.66)
• Race & ethnicity: Hispanic / Latino 44% Black 32% White 19% Two or more races 18% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Lithuanian 1% Romanian 1% Iranian 1%
• Foreign-born: 18% · Canada
• Languages at home: 61% English-only · Spanish 35% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -1.59%
• Current HPI: 215.5736
• Rent YoY: ▲ 0.92%
• 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

+384.9% since first listed

9 events — show timeline

• 2026-06-04 Sold (MLS) — HARMLS
• 2026-06-03 Sold (Public Records) — Public Records
• 2026-05-22 Pending — HARMLS
• 2026-05-14 Listed $145,000 HARMLS
• 2003-10-09 Sold (Public Records) — Public Records
• 2003-04-30 Listing Removed — HARMLS
• 2002-11-07 Listed $80,000 HARMLS
• 2000-01-14 Sold (Public Records) — Public Records
• 1990-10-01 Sold (Public Records) $29,900 Public Records

Property tax history

+4.0%/yr

Latest (2025): $4,671 · +11.1% YoY. Source: county tax records.