31106 Azure Waters Dr · Houston, TX 77336

$254,990

4 bd · 2.0 ba · 1,809 sqft · SingleFamily · 12 Days on market

Built 2026 Good condition Est $260k · at est.

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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 +13.3/30.0
• ARV discount +8.5/15.0
• DSCR +4.0/10.0
• Condition / age +4.0/5.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Appreciation +0.7/10.0

Listing remarks

It's crystal clear that the Quartz appeals to everyone. This popular single-story plan shines because of the great room. The layout allows you to simultaneously keep your eyes on architects constructing forts and others prepping for the big debate tournament. While they work, you can play in your extravagant open kitchen. There's plenty of counterspace for rolling out pizza dough. Set the toppings on the island and let the chefs get to work. The spacious primary suite can be your personal haven. Set up the adjacent study nook as a drop zone for everyone. The guest suite is nestled next to a full bath with dual sinks perfect for weekend guests!

Key facts

• Counterspace
• Primary suite
• Great room

Tags

• GREAT ROOM
• OPEN KITCHEN
• COUNTERSPACE
• PRIMARY SUITE
• STUDY NOOK
• GUEST SUITE

Property features AI

Finance

• Other: Listing status: Active; Listing provided by Zillow
• Financial info: List price: $254,990

Exterior

• Parking: 2 parking spaces
• Utilities: Has heating; Has cooling
• Home design: Spec home (Plan: Quartz)
• Exterior features: Address: 31106 Azure Waters Dr, Huffman TX 77336

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Heating: Other; Central air conditioning
• Interior features: Open living area (1,809 living area)

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $255k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $2 ($24/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 $223k (12.4% below list).
• Recommended offer: $223k (12.4% below list) — sets the bar for 1% rule.
• Cap rate 6.3% 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: 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.
• Zoned schools: Huffman Middle (math 36% / reading 32%, grade F, #892 of 1,662 statewide, top 55%, 907 students, 42% FRL); Hargrave H S (math 31% / reading 46%, grade F, #866 of 1,632 statewide, top 54%, 1,125 students, 36% FRL) — zoned schools at 39% FRL track the district average.
• Market conditions: 587 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $8k 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 12 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $223,314 (12.4% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.88% ✗
• Cap rate: 6.30%
• Cash-on-cash: 0.03%
• DSCR: 1.00
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $260,496
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1211 Romany Fields Dr	0.14mi	4/2.0	1,688 (-7%)	0mo	$228,940	$136	82
1216 Romany Flds	0.17mi	3/2.0 (-1)	1,857 (+3%)	2mo	$251,540	$135	81
1224 Romany Fields Dr	0.18mi	4/2.0	1,688 (-7%)	1mo	$259,240	$154	80
31027 De La Guerra St	0.25mi	4/2.0	1,688 (-7%)	2mo	$234,240	$139	76
1210 Romany Fields Dr	0.15mi	3/2.0 (-1)	1,941 (+7%)	2mo	$244,390	$126	75
1110 Long Leaf Pine St	0.32mi	4/2.0	1,943 (+7%)	1mo	$316,000	$163	72
1042 Gazing Pine St	0.40mi	4/2.0	1,943 (+7%)	2mo	$320,000	$165	67
1128 Peter Pine St	0.22mi	4/2.5	2,027 (+12%)	1mo	$332,400	$164	67
1229 Corsica Cliffs Dr	0.19mi	4/3.0	2,045 (+13%)	1mo	$284,230	$139	64
31031 Perdido Valley Ln	0.30mi	4/2.0	1,557 (-14%)	1mo	$224,040	$144	62
31115 De La Guerra St	0.27mi	4/3.0	2,045 (+13%)	2mo	$285,980	$140	60
1114 Novelle Bend Dr	0.58mi	4/2.5	1,674 (-8%)	2mo	$388,000	$232	57

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: -16.2%
• Equity multiple: 0.42×
• Total profit: $-41,158
• Equity at exit: $38,020

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-35,539
• Equity at exit: $22,047

Cash invested: $71,397 (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: 587
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,233 medium
• Mortgage (P&I): −$1,337
• Tax est. 1.5%: −$319 /mo · $3,825/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $2

Break-even live

Break-even rent $2,231

Max offer price $254,990

Occupancy floor 95%

Sensitivity live

Price	-10% $178	-5% $90	+0% $2	+5% $-86	+10% $-174
Rent	-10% $-174	-5% $-86	+0% $2	+5% $90	+10% $178
Rate	-1.0pp $130	-0.5pp $67	base $2	+0.5pp $-64	+1.0pp $-131

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: $63,748
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
934 Pertuso Ln Huffman, TX	3.0	2.0	1360	$1,800	$1.32	26d	1	0.79mi
31416 Pratola Serra Cir Huffman, TX	3.0	2.0	1461	$1,675	$1.15	3d	1	0.86mi

Listing history 8 events

1. 2026-06-09
   days on market $254,990 Active 12 DOM
2. 2026-06-08
   days on market $254,990 Active 11 DOM
3. 2026-06-07
   days on market $254,990 Active 10 DOM
4. 2026-06-04
   days on market $254,990 Active 7 DOM
5. 2026-06-03
   days on market $254,990 Active 6 DOM
6. 2026-06-02
   days on market $254,990 Active 5 DOM
7. 2026-06-01
   days on market $254,990 Active 4 DOM
8. 2026-05-31
   days on market $254,990 Active 3 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $26,798
• − Mortgage interest: −$14,283
• − Property taxes: −$3,825
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,144
• − Management: −$2,144
• − Depreciation: −$7,418
• Taxable loss: −$4,291
• Est. tax savings @ 24.0%: +$1,030
• After-tax cash flow: $1,054/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.

Condition & rehab AI · 12 photos

Good 80/100 None rehab

This single-story home is in excellent condition with a modern kitchen and bathrooms. It has a good curb appeal and is move-in ready. Potential buyers and tenants will appreciate the fresh paint, landscaping, and smart home features.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value.
• Both Adding smart home features — Smart home features can increase property value and attract tech-savvy buyers/tenants.
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value. ↑
• Both Adding smart home features — Smart home features can increase property value and attract tech-savvy buyers/tenants. ↑
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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