Oakridge Plan · Houston, TX 77447

$240,990

3 bd · 2.0 ba · 1,325 sqft · SingleFamily · 350 Days on market

Excellent condition

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Why this score? — see what drove the F 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 +7.7/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• 1% rule +2.3/10.0
• Rent growth +2.1/5.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests.

Key facts

• Walk-in closet
• Open floorplan
• Secondary bedrooms

Tags

• OPEN FLOORPLAN
• OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• SECONDARY BEDROOMS

🏗️ New construction. The $240,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $304,669.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $241k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-348 ($-4k/yr) — negative.
• 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 (7.7% below list).
• Recommended offer: $212k (12.0% below list) — sets the bar for market timing.
• Cap rate 4.9% 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.
• Waller ISD (rural): math 30% / reading 35% proficiency, ranked #532 of 826 in TX (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.6%/yr); 1782 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $9k 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 350 days — a 12% lower offer ($212k) is reasonable based on typical stale-listing flexibility.

Recommended offer $212,071 (12.0% 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. It's been on market 350 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 0.73% ✗
• Cap rate: 4.92%
• Cash-on-cash: -4.89%
• DSCR: 0.78
• GRM: 11.4

CMA / ARV

• ARV (median comp): $304,669
• List price: $240,990
• Delta: -20.90%
• 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
16846 Spotted Oak Dr	0.31mi	3/2.0	1,325 (0%)	0mo	$220,090	$166	85
16823 Old Wagon Way	0.29mi	3/2.0	1,325 (0%)	4mo	$260,990	$197	83
16834 Old Wagon Way	0.32mi	3/2.0	1,325 (0%)	4mo	$260,990	$197	82
16854 Old Wagon Way	0.35mi	3/2.0	1,325 (0%)	2mo	$261,990	$198	82
16114 Domestic Dove Way	0.48mi	3/2.0	1,318 (-0%)	2mo	$286,990	$218	75
28530 Golden Hay Dr	0.34mi	3/2.0	1,409 (+6%)	1mo	$263,990	$187	73
16831 Old Wagon Way	0.30mi	3/2.0	1,409 (+6%)	4mo	$263,990	$187	72
16847 Old Wagon Way	0.33mi	3/2.0	1,409 (+6%)	3mo	$263,990	$187	72
16859 Spotted Oak Dr	0.33mi	3/2.0	1,464 (+10%)	1mo	$270,990	$185	67
16827 Old Wagon Way	0.30mi	3/2.0	1,474 (+11%)	2mo	$278,990	$189	66
16814 Old Wagon Way	0.29mi	3/2.0	1,474 (+11%)	4mo	$278,990	$189	64
16842 Old Wagon Way	0.33mi	3/2.0	1,474 (+11%)	3mo	$276,990	$188	64

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -28.0%
• Equity multiple: 0.09×
• Total profit: $-77,991
• Equity at exit: $45,427

10-year hold

• IRR: -43.3%
• Equity multiple: -0.42×
• Total profit: $-121,480
• Equity at exit: $26,342

Cash invested: $85,307 (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 77447

• Home prices YoY: -31.1%
• Rents YoY: -1.6%
• Active inventory: 1782
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $2,225 medium
• Mortgage (P&I): −$1,598
• Tax est. 1.5%: −$381 /mo · $4,570/yr
• Insurance: −$127
• HOA: −$0
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $-348

Break-even live

Break-even rent $2,665

Max offer price $254,382

Occupancy floor —

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: $76,167
• Closing costs: $9,140
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16315 Mesquite Field Dr Hockley, TX	4.0	2.0	1500	$2,600	$1.73	43d	1	0.36mi

Listing history 16 events

1. 2026-06-18
   price $240,990 Active 350 DOM
2. 2026-06-18
   days on market $245,990 Active 350 DOM
3. 2026-06-18
   price $245,990 Active 349 DOM
4. 2026-06-17
   days on market $255,990 Active 349 DOM
5. 2026-06-16
   days on market $255,990 Active 348 DOM
6. 2026-06-15
   days on market $255,990 Active 347 DOM
7. 2026-06-13
   days on market $255,990 Active 345 DOM
8. 2026-06-09
   days on market $255,990 Active 341 DOM
9. 2026-06-08
   days on market $255,990 Active 340 DOM
10. 2026-06-07
    days on market $255,990 Active 339 DOM
11. 2026-06-04
    days on market $255,990 Active 336 DOM
12. 2026-06-03
    days on market $255,990 Active 335 DOM
13. 2026-06-02
    days on market $255,990 Active 334 DOM
14. 2026-06-01
    days on market $255,990 Active 333 DOM
15. 2026-05-31
    days on market $255,990 Active 332 DOM
16. 2025-07-03
    listed $255,990 Active 414-char remark

    Show marketing remark (414 chars)

    This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms along the side of the home, which are ideal for household members and hosting overnight guests.

ⓘ 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: $26,703
• − Mortgage interest: −$17,066
• − Property taxes: −$4,570
• − Insurance: −$1,523
• − Repairs & maintenance: −$2,136
• − Management: −$2,136
• − Depreciation: −$8,863
• Taxable loss: −$9,592
• Est. tax savings @ 24.0%: +$2,302
• After-tax cash flow: $-1,868/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

Excellent 95/100 None rehab

This single-family home is in excellent condition with a spacious floor plan and modern finishes. It is move-in ready and has the potential for further value increases through minor updates.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value.
• Resale Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters.
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and energy-efficient.

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 — A well-maintained yard can increase both resale and rental value. ↑
• Resale Upgrading the kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more convenient and energy-efficient. ↑

ⓘ 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: Waller ISD
• NCES district ID: 4844430
• Math proficiency: 30% ▼ -23.00%
• Reading proficiency: 35% ▼ -11.00%
• Median HH income: $58,911
• Composite: 29.12/100
• National rank: #6593
• State rank: #532 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): 25,231
• Household income: $116,925
• Rent vs Own: 14.0% rent · 86.0% own
• Severe rent burden: 265.0

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 0.63)
• Race & ethnicity: White 44% Hispanic / Latino 41% Two or more races 16% Black 9% Asian 1%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Lithuanian 3% Slovak 1% Romanian 1%
• Foreign-born: 15% · Canada, Jamaica, Dominican Republic
• Languages at home: 69% English-only · Spanish 28% Other Indo-European 1% 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: ▼ -112.73%
• Current HPI: 249.6969
• Rent YoY: ▼ -1.58%
• 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

1 event — show timeline

• 2025-07-03 Listed $255,990 Zillow