722 N Fall Creek Dr · Houston, TX 77336

$194,900

3 bd · 2.0 ba · 1,611 sqft · SingleFamily public records · 84 Days on market

Built 1965 0.30 ac lot $121/sqft · 9% below area Est $215k · 9% under $25/mo HOA · 1% of rent

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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 +18.6/30.0
• ARV discount +11.7/15.0
• DSCR +5.8/10.0
• 1% rule +5.5/10.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.7/10.0

Listing remarks MLS

This move-in ready three-bedroom, two-bathroom home is located in the Lakewood Heights Sec 03 R/P community. The interior features a spacious layout highlighted by tall ceilings in the living room, creating an airy and inviting atmosphere. The updated kitchen serves as a central hub, boasting granite countertops and stainless steel appliances. Designed for modern living, the floorplan offers a seamless flow throughout the primary living areas. Step outside to find a fully fenced-in backyard, providing a private space for outdoor activities and gardening. Ideally situated for convenience, this home offers easy access to Lake Houston, major roadways, and a variety of local shopping and dining options. Schedule your private showing today!

Key facts

• 0.3 acre lot
• Garage
• Built 1965

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Recommended offer: $183k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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.
• Huffman ISD (rural): math 32% / reading 35% proficiency, ranked #500 of 826 in TX (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 585 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 71% 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 (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 84 days — a 6% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $56k; list at $195k implies a 248% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,206 (6.0% below list)

Questions for the listing agent

1. It's been on market 84 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.05% ✓
• Cap rate: 7.45%
• Cash-on-cash: 4.12%
• DSCR: 1.18
• GRM: 8.0

CMA / ARV

• ARV (median comp): $214,878
• List price: $194,900
• Delta: -9.30%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24034 E Lake Houston Pkwy	0.17mi	3/2.0	1,558 (-3%)	4mo	$255,999	$164	83
730 Broad Ripple Dr	0.07mi	3/2.0	1,720 (+7%)	7mo	$195,000	$113	80
24226 Whitesail Dr	0.42mi	3/2.0	1,594 (-1%)	7mo	$249,000	$156	72
24402 Lightwoods Dr	0.62mi	3/2.0	1,607 (-0%)	3mo	$254,900	$159	68
331 Cherry Valley Dr	0.45mi	3/2.0	1,495 (-7%)	2mo	$185,000	$124	65
24414 Whitesail Dr	0.61mi	3/2.0	1,663 (+3%)	3mo	$193,200	$116	64
513 Emerald Thicket Ln	0.65mi	3/2.5	1,647 (+2%)	1mo	$249,990	$152	63
24712 Stablewood Forest Ct	0.68mi	3/2.5	1,556 (-3%)	0mo	$180,000	$116	60
24705 Sonora Crescent Cir	0.64mi	3/2.0	1,689 (+5%)	3mo	$288,990	$171	60
24708 Sonora Crescent Cir	0.63mi	3/2.0	1,689 (+5%)	8mo	$286,990	$170	56
231 Loon River Dr	0.55mi	3/2.0	1,833 (+14%)	3mo	$314,900	$172	49
24702 Stablewood Frst	0.67mi	3/3.0	1,774 (+10%)	2mo	$254,990	$144	46

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

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -9.8%
• Equity multiple: 0.64×
• Total profit: $-19,577
• Equity at exit: $29,060

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-1,376
• Equity at exit: $16,851

Cash invested: $54,572 (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 77336

• Home prices YoY: -1.8%
• Active inventory: 585
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,037 high
• Mortgage (P&I): −$1,022
• Tax from tax record: −$294 /mo · $3,523/yr
• Insurance: −$81
• HOA: −$25
• Vacancy / Maint / Mgmt: −$428
• Net cashflow: $187

Break-even live

Break-even rent $1,800

Max offer price $194,900

Occupancy floor 86%

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: $48,725
• Closing costs: $5,847
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24118 Grey Fox Dr Huffman, TX	3.0	2.0	1543	$1,425	$0.92	43d	1	0.39mi
24730 Russet Bluff Trl Huffman, TX	4.0	2.0	1604	$2,150	$1.34	1d	1	0.58mi
24719 Colony Meadow Trl Huffman, TX	4.0	2.0	1613	$2,200	$1.36	43d	1	0.58mi
408 Emerald Thicket Ln Huffman, TX	3.0	2.5	1755	$2,200	$1.25	43d	1	0.67mi
24523 Whitesail Dr Huffman, TX	3.0	2.0	1512	$1,800	$1.19	43d	1	0.74mi
24527 Lightwoods Dr Huffman, TX	4.0	2.0	2095	$2,100	$1.00	43d	1	0.84mi
22423 Woodlake Rd Huffman, TX	3.0	2.0	1673	$1,935	$1.16	5d	1	1.45mi

HOA detail

• Monthly dues: $25 · $300/yr

Listing history 26 events

1. 2026-06-18
   days on market $194,900 Active 84 DOM
2. 2026-06-17
   days on market $194,900 Active 83 DOM
3. 2026-06-16
   days on market $194,900 Active 82 DOM
4. 2026-06-15
   days on market $194,900 Active 81 DOM
5. 2026-06-13
   pricedays on market $194,900 Active 79 DOM
6. 2026-06-09
   days on market $197,500 Active 75 DOM
7. 2026-06-08
   days on market $197,500 Active 74 DOM
8. 2026-06-07
   days on market $197,500 Active 73 DOM
9. 2026-06-04
   days on market $197,500 Active 70 DOM
10. 2026-06-03
    days on market $197,500 Active 69 DOM
11. 2026-06-02
    days on market $197,500 Active 68 DOM
12. 2026-06-01
    days on market $197,500 Active 67 DOM
13. 2026-05-31
    days on market $197,500 Active 66 DOM
14. 2026-05-01
    price $199,900 748-char remark

    Show marketing remark (748 chars)

    This move-in ready three-bedroom, two-bathroom home is located in the Lakewood Heights Sec 03 R/P community. The interior features a spacious layout highlighted by tall ceilings in the living room, creating an airy and inviting atmosphere. The updated kitchen serves as a central hub, boasting granite countertops and stainless steel appliances. Designed for modern living, the floorplan offers a seamless flow throughout the primary living areas. Step outside to find a fully fenced-in backyard, providing a private space for outdoor activities and gardening. Ideally situated for convenience, this home offers easy access to Lake Houston, major roadways, and a variety of local shopping and dining options. Schedule your private showing today!

15. 2026-04-03
    price $204,900 748-char remark

    Show marketing remark (748 chars)

    This move-in ready three-bedroom, two-bathroom home is located in the Lakewood Heights Sec 03 R/P community. The interior features a spacious layout highlighted by tall ceilings in the living room, creating an airy and inviting atmosphere. The updated kitchen serves as a central hub, boasting granite countertops and stainless steel appliances. Designed for modern living, the floorplan offers a seamless flow throughout the primary living areas. Step outside to find a fully fenced-in backyard, providing a private space for outdoor activities and gardening. Ideally situated for convenience, this home offers easy access to Lake Houston, major roadways, and a variety of local shopping and dining options. Schedule your private showing today!

16. 2026-03-26
    listed $209,900 Active 748-char remark

    Show marketing remark (748 chars)

    This move-in ready three-bedroom, two-bathroom home is located in the Lakewood Heights Sec 03 R/P community. The interior features a spacious layout highlighted by tall ceilings in the living room, creating an airy and inviting atmosphere. The updated kitchen serves as a central hub, boasting granite countertops and stainless steel appliances. Designed for modern living, the floorplan offers a seamless flow throughout the primary living areas. Step outside to find a fully fenced-in backyard, providing a private space for outdoor activities and gardening. Ideally situated for convenience, this home offers easy access to Lake Houston, major roadways, and a variety of local shopping and dining options. Schedule your private showing today!

17. 2022-03-13
    price $1,475
18. 2021-09-02
    soldstatus
19. 2021-08-31
    soldstatus Sold 349-char remark

    Show marketing remark (349 chars)

    Welcome to this cozy home in Lakewood Heights and ready for your own personal touch to make this home!! There is also a covered back patio and plenty of space in the fully fenced yard. This home is situated on Lake Houston and offers a boat ramp and private parks. Don't wait any longer and make your appointment today!!!! No showings until 7/4/21

20. 2021-07-20
    status Pending 349-char remark

    Show marketing remark (349 chars)

    Welcome to this cozy home in Lakewood Heights and ready for your own personal touch to make this home!! There is also a covered back patio and plenty of space in the fully fenced yard. This home is situated on Lake Houston and offers a boat ramp and private parks. Don't wait any longer and make your appointment today!!!! No showings until 7/4/21

21. 2021-07-09
    status Option Pending 349-char remark

    Show marketing remark (349 chars)

    Welcome to this cozy home in Lakewood Heights and ready for your own personal touch to make this home!! There is also a covered back patio and plenty of space in the fully fenced yard. This home is situated on Lake Houston and offers a boat ramp and private parks. Don't wait any longer and make your appointment today!!!! No showings until 7/4/21

22. 2021-07-02
    listed $160,000 Active 349-char remark

    Show marketing remark (349 chars)

    Welcome to this cozy home in Lakewood Heights and ready for your own personal touch to make this home!! There is also a covered back patio and plenty of space in the fully fenced yard. This home is situated on Lake Houston and offers a boat ramp and private parks. Don't wait any longer and make your appointment today!!!! No showings until 7/4/21

23. 2002-08-27
    soldstatus
24. 1998-08-26
    soldstatus
25. 1997-10-02
    soldstatus
26. 1997-09-01
    soldstatus $56,000

ⓘ 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: $3,523 · $294/mo
• Projected year-2 tax: $3,567 · $297/mo
• Expected delta: +$43/yr (+$4/mo · 1.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $24,443
• − Mortgage interest: −$10,917
• − Property taxes: −$3,523
• − Insurance: −$974
• − Repairs & maintenance: −$1,955
• − Management: −$1,955
• − HOA: −$300
• − Depreciation: −$5,670
• Taxable loss: −$853
• Est. tax savings @ 24.0%: +$205
• After-tax cash flow: $2,452/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: Huffman ISD
• NCES district ID: 4823820
• Math proficiency: 32% ▼ -9.00%
• Reading proficiency: 35% ▼ -9.00%
• Median HH income: $65,848
• Composite: 30.61/100
• National rank: #6195
• State rank: #500 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

• Census place: Houston, TX
• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 14,342
• Household income: $96,404
• Rent vs Own: 21.8% rent · 78.2% own
• Severe rent burden: 377.0

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: Majority White (65%)
• Race & ethnicity: White 65% Hispanic / Latino 23% Two or more races 9% Black 5% Native American 4%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Lithuanian 4% Slovak 2% Romanian 2%
• Foreign-born: 9% · Canada
• Languages at home: 79% English-only · Spanish 18% Other Indo-European 2%

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: ▼ -8.59%
• Current HPI: 472.03
• Rent YoY: —
• 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

+257.0% since first listed

13 events — show timeline

• 2026-05-01 Price Changed $199,900 HARMLS
• 2026-04-03 Price Changed $204,900 HARMLS
• 2026-03-26 Listed $209,900 HARMLS
• 2022-03-13 Price Changed $1,475 RENT.
• 2021-09-02 Sold (Public Records) — Public Records
• 2021-08-31 Sold (MLS) — HARMLS
• 2021-07-20 Pending — HARMLS
• 2021-07-09 Pending — HARMLS
• 2021-07-02 Listed $160,000 HARMLS
• 2002-08-27 Sold (Public Records) — Public Records
• 1998-08-26 Sold (Public Records) — Public Records
• 1997-10-02 Sold (Public Records) — Public Records
• 1997-09-01 Sold (Public Records) $56,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $3,523 · -9.5% YoY. Source: county tax records.