118 Waterwood Dr · Houston, TX 77336

$259,000

3 bd · 2.0 ba · 1,918 sqft · SingleFamily public records · 10 Days on market

Built 1970 8,999 sqft lot $135/sqft · at area comps Est $252k · at est. $2/mo HOA

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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 +12.9/30.0
• ARV discount +6.2/15.0
• DSCR +3.9/10.0
• Livability +3.7/5.0
• 1% rule +3.3/10.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.7/10.0

Listing remarks

Welcome to 118 Waterwood Dr! A beautifully renovated gem nestled in the serene community of Huffman, TX. This move-in-ready home has been fully remodeled from top to bottom, offering peace of mind and modern comfort with all-new systems and stylish finishes. Step inside to find new flooring, doors, and windows that fill the home with natural light. The kitchen features brand new appliances, ideal for creating memorable meals and entertaining guests. Enjoy year-round comfort with a new HVAC system, water heater, and electrical panel for added safety and efficiency. The foundation has been professionally leveled, ensuring long-term stability. A new roof and well system make this home as funct

Key facts

• Fully remodeled
• New flooring
• New water heater

Tags

• FULLY REMODELED
• NEW FLOORING
• NEW APPLIANCES
• NEW HVAC SYSTEM
• NEW WATER HEATER
• NEW ELECTRICAL PANEL

Property features AI

Finance

• Other: Seller disclosure available
• HOA & community: Water Wonderland POA with $25 annual fee

Exterior

• Parking: Attached carport; 2-space carport
• Utilities: Well water; Septic tank
• Home design: Residential property; Full ownership; Has a view; Living area approximately 1,918
• Construction: Built in 1970; Stone and wood siding exterior; Composition roof; Slab foundation
• Exterior features: Fenced private yard; Back yard fencing; Subdivision setting; Views; Concrete road access

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Microwave; Garbage disposal
• Flooring: Tile; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Granite counters; Pantry; 7 total rooms
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $259k.

Deal economics

• At list price, monthly cash flow is $-19 ($-228/yr) — negative.
• To cash-flow at today's rent, offer at most $256k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $216k (16.8% below list).
• Recommended offer: $216k (16.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 80% 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 $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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 16y 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 $60k; list at $259k implies a 332% 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $215,615 (16.8% 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 1970 — 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. 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. 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?
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: 0.83% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.32%
• DSCR: 0.99
• GRM: 10.0

CMA / ARV

• ARV (median comp): $251,647
• List price: $259,000
• Delta: 5.31%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
431 Havard Rd	0.29mi	3/2.0	2,000 (+4%)	1mo	$264,999	$132	79
430 Havard Rd	0.25mi	3/2.0	1,802 (-6%)	13mo	$250,000	$139	67
25702 Parkway Dr	0.63mi	3/2.5	1,920 (+0%)	4mo	$339,000	$177	65
322 Havard Rd	0.28mi	3/2.0	2,137 (+11%)	7mo	$359,900	$168	62
25814 Water Ridge Dr	0.49mi	3/2.0	2,080 (+8%)	2mo	$395,000	$190	61
507 Springwater Dr	0.42mi	3/2.0	1,689 (-12%)	8mo	$245,000	$145	54
25639 Beaver Run Dr	0.32mi	3/2.0	1,642 (-14%)	15mo	$229,500	$140	48

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: -16.8%
• Equity multiple: 0.40×
• Total profit: $-43,191
• Equity at exit: $38,618

10-year hold

• IRR: -8.7%
• Equity multiple: 0.46×
• Total profit: $-39,207
• Equity at exit: $22,394

Cash invested: $72,520 (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: 10.0×

Monthly cashflow live

• Estimated rent: $2,156 high
• Mortgage (P&I): −$1,358
• Tax from tax record: −$254 /mo · $3,051/yr
• Insurance: −$108
• HOA: −$2
• Vacancy / Maint / Mgmt: −$453
• Net cashflow: $-19

Break-even live

Break-even rent $2,180

Max offer price $255,637

Occupancy floor 96%

Sensitivity live

Price	-10% $128	-5% $54	+0% $-19	+5% $-92	+10% $-166
Rent	-10% $-189	-5% $-104	+0% $-19	+5% $66	+10% $151
Rate	-1.0pp $111	-0.5pp $47	base $-19	+0.5pp $-86	+1.0pp $-154

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
408 Emerald Thicket Ln Huffman, TX	3.0	2.5	1755	$2,200	$1.25	45d	1	1.09mi
24523 Whitesail Dr Huffman, TX	3.0	2.0	1512	$1,800	$1.19	45d	1	1.19mi
24527 Lightwoods Dr Huffman, TX	4.0	2.0	2095	$2,100	$1.00	45d	1	1.20mi
24719 Colony Meadow Trl Huffman, TX	4.0	2.0	1613	$2,200	$1.36	45d	1	1.23mi
24730 Russet Bluff Trl Huffman, TX	4.0	2.0	1604	$2,150	$1.34	0d	1	1.32mi

HOA detail

• Monthly dues: $2 · $24/yr
• Likely covers: waterelectric

Listing history 35 events

1. 2026-06-21
   days on market $259,000 Active 10 DOM
2. 2026-06-18
   days on market $259,000 Active 7 DOM
3. 2026-06-17
   days on market $259,000 Active 6 DOM
4. 2026-06-16
   days on market $259,000 Active 5 DOM
5. 2026-06-15
   days on market $259,000 Active 4 DOM
6. 2026-06-13
   pricedays on marketlisting id $259,000 Active 2 DOM
7. 2026-06-09
   days on market $265,000 Active 145 DOM
8. 2026-06-08
   days on market $265,000 Active 144 DOM
9. 2026-06-07
   days on market $265,000 Active 143 DOM
10. 2026-06-04
    days on market $265,000 Active 140 DOM
11. 2026-06-03
    days on market $265,000 Active 139 DOM
12. 2026-06-02
    days on market $265,000 Active 138 DOM
13. 2026-06-01
    days on market $265,000 Active 137 DOM
14. 2026-05-31
    days on market $265,000 Active 136 DOM
15. 2026-05-02
    status Active 1000-char remark
16. 2026-04-25
    status Pending 1000-char remark
17. 2026-01-15
    listed $265,000 Active 1000-char remark
18. 2025-12-26
    historical
19. 2025-10-30
    listed $285,000 Active
20. 2025-10-30
    historical
21. 2025-09-02
    listed $299,800 Active
22. 2025-09-02
    historical
23. 2025-08-22
    price $299,800
24. 2025-07-28
    price $325,000
25. 2025-07-13
    listed $350,000 Active
26. 2023-03-29
    soldstatus Sold
27. 2023-03-25
    status Pending
28. 2023-03-20
    status Option Pending
29. 2023-03-06
    listed $86,000 Active
30. 2011-02-25
    soldstatus
31. 2011-02-18
    historical
32. 2010-09-30
    listed $19,900
33. 1998-06-02
    soldstatus
34. 1998-05-29
    soldstatus $59,900
35. 1996-03-01
    soldstatus $52,500

ⓘ 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: $3,051 · $254/mo
• Projected year-2 tax: $4,740 · $395/mo
• Expected delta: +$1,689/yr (+$141/mo · 55.3%)

ⓘ 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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 24 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: $25,874
• − Mortgage interest: −$14,508
• − Property taxes: −$3,051
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,070
• − Management: −$2,070
• − HOA: −$24
• − Depreciation: −$7,535
• Taxable loss: −$4,679
• Est. tax savings @ 24.0%: +$1,123
• After-tax cash flow: $894/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

• 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

+393.3% since first listed

23 events — show timeline

• 2026-06-11 Listing Removed — HARMLS
• 2026-06-11 Listed $259,000 HARMLS
• 2026-05-02 Relisted — HARMLS
• 2026-04-25 Pending — HARMLS
• 2026-01-15 Listed $265,000 HARMLS
• 2025-12-26 Listing Removed — HARMLS
• 2025-10-30 Listing Removed — HARMLS
• 2025-10-30 Listed $285,000 HARMLS
• 2025-09-02 Listing Removed — HARMLS
• 2025-09-02 Listed $299,800 HARMLS
• 2025-08-22 Price Changed $299,800 HARMLS
• 2025-07-28 Price Changed $325,000 HARMLS
• 2025-07-13 Listed $350,000 HARMLS
• 2023-03-29 Sold (MLS) — HARMLS
• 2023-03-25 Pending — HARMLS
• 2023-03-20 Pending — HARMLS
• 2023-03-06 Listed $86,000 HARMLS
• 2011-02-25 Sold (MLS) — HARMLS
• 2011-02-18 Listing Removed — HARMLS
• 2010-09-30 Listed $19,900 HARMLS
• 1998-06-02 Sold (Public Records) — Public Records
• 1998-05-29 Sold (Public Records) $59,900 Public Records
• 1996-03-01 Sold (Public Records) $52,500 Public Records

Property tax history

+1.4%/yr

Latest (2025): $3,051 · +30.2% YoY. Source: county tax records.