6518 Wenlock Dr · Houston, TX 77048

$289,000

4 bd · 2.5 ba · 2,061 sqft · SingleFamily public records · 5 Days on market

Built 2022 3,882 sqft lot Est $293k · at est. $42/mo HOA · 2% of rent

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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).

• ARV discount +8.1/15.0
• Appreciation +6.3/10.0
• Cash flow +5.9/30.0
• Livability +3.7/5.0
• 1% rule +2.9/10.0
• Rent growth +2.8/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• DSCR +0.3/10.0

Listing remarks

Welcome to this beautifully maintained two-story home by Carolina Creek Homes, located in the desirable South Meadow Place community. Offering 4 spacious bedrooms, 2.5 bathrooms, and a versatile upstairs loft/game room, this home combines comfort, style, and functionality. The open-concept floor plan features a stunning island kitchen with granite countertops, gas cooking, ample cabinetry, and seamless connectivity to the living and dining areas—perfect for both everyday living and entertaining. The spacious primary suite offers a private retreat with dual vanities, a garden tub, separate shower, and a generous walk-in closet. Step outside to enjoy the seller-added concrete extension,

Key facts

• Concrete extension
• Upstairs loft
• Island kitchen

Tags

• TWO STORY HOME
• ISLAND KITCHEN
• GRANITE COUNTERTOPS
• GAS COOKING
• UPSTAIRS LOFT
• CONCRETE EXTENSION

Property features AI

Finance

• Other: Lease not considered
• HOA & community: Managed by Legacy Management Group; Association fee $500 annually

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 2022; Slab foundation; Composition roof
• Construction: Brick construction
• Exterior features: Deck; Patio; Lot identified as 'Other' features

Interior

• Kitchen: Dishwasher; Disposal; Microwave
• Bedrooms: 8 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Breakfast bar; Double vanity; High ceilings; Kitchen/family room combo; Pantry; Separate shower; Tub with shower; Ceiling fans; Kitchen/dining combo; Living/dining room

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $289k.

Deal economics

• At list price, monthly cash flow is $-628 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $178k (38.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $229k (20.9% below list).
• Recommended offer: $178k (38.4% below list) — sets the bar for cash-flow.
• Cap rate 4.0% vs local median 3.2% in Houston — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Houston ISD (urban): math 27% / reading 35% proficiency, ranked #593 of 826 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Frost El (math 8% / reading 12%, grade F, #4,259 of 4,322 statewide, top 99%, 489 students, 97% FRL); Thomas Middle (math 3% / reading 13%, grade F, #1,654 of 1,662 statewide, top 100%, 526 students, 98% FRL); Sterling H S (math 16% / reading 27%, grade F, #1,377 of 1,632 statewide, top 85%, 1,421 students, 92% FRL) — zoned schools average 96% FRL vs 71% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 13% at this address vs 31% district-wide (-18 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.2%/yr); 305 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; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $10k of equity ($2k loan paydown + $8k appreciation (2.6% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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: property tax is 2.9% 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 $178,041 (38.4% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
9. 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.
10. 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.
11. 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: 0.79% ✗
• Cap rate: 3.96%
• Cash-on-cash: -8.33%
• DSCR: 0.63
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $292,662
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
13323 Ardery Meadow Dr	0.10mi	4/2.5	1,918 (-7%)	2mo	$289,000	$151	82
13309 Myrtle Meadows Ln	0.22mi	3/2.5 (-1)	2,029 (-2%)	1mo	$265,000	$131	81
6522 Macroom Meadows Ln	0.15mi	3/2.5 (-1)	1,832 (-11%)	8mo	$272,000	$148	62
6615 Capridge Dr	0.65mi	3/2.0 (-1)	2,074 (+1%)	1mo	$295,000	$142	61
6638 Atlasridge Dr	0.56mi	3/3.0 (-1)	2,088 (+1%)	6mo	$229,000	$110	60
6743 Forbes Run Dr	0.65mi	4/3.0	2,064 (+0%)	9mo	$299,990	$145	60
6408 Pregonero Ln	0.48mi	3/3.5 (-1)	1,971 (-4%)	3mo	$319,900	$162	58
6650 Atlasridge Dr	0.55mi	3/3.0 (-1)	2,136 (+4%)	4mo	$265,000	$124	58
6527 Capridge Dr	0.70mi	3/2.0 (-1)	2,083 (+1%)	4mo	$275,000	$132	55
10634 Cashew Run Ln	0.69mi	4/2.5	2,211 (+7%)	4mo	$300,000	$136	52
6819 Forbes Run Dr	0.68mi	4/2.5	1,919 (-7%)	6mo	$290,000	$151	52
6121 Perth St	0.53mi	3/2.0 (-1)	1,859 (-10%)	7mo	$229,999	$124	46

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

Projected returns pro-forma

2.61% appreciation · 1.17% rent growth · sell at horizon

5-year hold

• IRR: -3.3%
• Equity multiple: 0.82×
• Total profit: $-14,916
• Equity at exit: $123,676

10-year hold

• IRR: 0.5%
• Equity multiple: 1.07×
• Total profit: $5,640
• Equity at exit: $185,860

Cash invested: $80,920 (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 77048

• Home prices YoY: 1.0%
• Rents YoY: 1.2%
• Active inventory: 305
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,286 high
• Mortgage (P&I): −$1,516
• Tax from tax record: −$689 /mo · $8,271/yr
• Insurance: −$120
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$42
• Vacancy / Maint / Mgmt: −$480
• Net cashflow: $-628

Break-even live

Break-even rent $3,081

Max offer price $178,041

Occupancy floor —

Sensitivity live

Price	-10% $-465	-5% $-546	+0% $-628	+5% $-710	+10% $-792
Rent	-10% $-809	-5% $-718	+0% $-628	+5% $-538	+10% $-448
Rate	-1.0pp $-483	-0.5pp $-555	base $-628	+0.5pp $-703	+1.0pp $-779

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: $72,250
• Closing costs: $8,670
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6543 Castle Loch Ct Houston, TX	3.0	2.5	1709	$1,995	$1.17	16d	1	0.11mi
6706 Hobby Wind Ridge Dr Unit 1503192P Houston, TX	5.0	2.5	2195	$3,448	$1.57	0d	1	0.52mi
10647 Cashew Run Ln Houston, TX	3.0	2.0	1515	$2,100	$1.39	45d	1	0.65mi
5919 Allison Rd Unit B Houston, TX	4.0	2.5	1450	$1,850	$1.28	45d	1	0.74mi
6450 Dayridge Ln Houston, TX	3.0	2.0	1415	$1,820	$1.29	20d	1	0.84mi
7821 Fuqua St Houston, TX	3.0	2.0	1408	$1,700	$1.21	45d	1	1.39mi

HOA detail

• Monthly dues: $42 · $504/yr
• Likely covers: gas

Listing history 4 events

1. 2026-06-21
   days on market $289,000 Active 5 DOM
2. 2026-06-18
   days on market $289,000 Active 2 DOM
3. 2026-06-17
   remarks 693-char remark
4. 2026-06-17
   listed $289,000 Active 1 DOM

ⓘ 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: $8,271 · $689/mo
• Projected year-2 tax: $8,271 · $689/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 (shaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,426
• − Mortgage interest: −$16,188
• − Property taxes: −$8,271
• − Insurance: −$2,242
• − Repairs & maintenance: −$2,194
• − Management: −$2,194
• − HOA: −$504
• − Depreciation: −$8,407
• Taxable loss: −$12,575
• Est. tax savings @ 24.0%: +$3,018
• After-tax cash flow: $-4,519/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: Houston ISD
• NCES district ID: 4823640
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $46,054
• Composite: 26.63/100
• National rank: #7173
• State rank: #593 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): 21,151
• Household income: $56,747
• Rent vs Own: 41.4% rent · 58.6% own
• Severe rent burden: 1117.0

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: Predominantly Black (69%)
• Race & ethnicity: Black 69% Hispanic / Latino 24% Two or more races 6% Asian 3% White 2%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Foreign-born: 12% · Canada, Vietnam
• Languages at home: 76% English-only · Spanish 20% Tagalog/Filipino 2% Vietnamese 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: ▲ 2.61%
• Current HPI: 266.4468
• Rent YoY: ▲ 1.17%
• 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

+12465.2% since first listed

5 events — show timeline

• 2026-06-16 Listed $289,000 HARMLS
• 2026-06-12 Rental Removed $2,200 HARMLS
• 2026-03-05 Price Changed $2,200 HARMLS
• 2026-01-06 Listed for Rent $2,300 HARMLS
• 2023-07-13 Rental Removed — HARMLS

Property tax history

+130.6%/yr

Latest (2025): $8,271 · +2.0% YoY. Source: county tax records.