6702 Tierwester St · Houston, TX 77021

$145,000

3 bd · 1.5 ba · 1,770 sqft · SingleFamily public records · 37 Days on market

Built 1949 7,701 sqft lot $82/sqft · 61% below area ↓ 19% since listing

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.0/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This charming estate sale features 3 bedrooms and 1.5 baths on a spacious corner lot. While the home needs some TLC—including a new roof and foundation work—it offers incredible potential for the right buyer. With a little imagination and effort, this charming house can be transformed into a dream home that reflects personal tastes and lifestyle needs, making it an appealing opportunity for those looking to invest in a property with promise. The surrounding neighborhood adds to the attractiveness, offering a welcoming community vibe and proximity to University of Houston, Texas Southern University and the Texas Medical Center, making this estate a standout option for both first-

Key facts

• Foundation work
• Corner lot
• New roof

Tags

• CORNER LOT
• NEW ROOF
• FOUNDATION WORK

Property features AI

Exterior

• Parking: Attached carport; Carport available
• Utilities: Public water
• Home design: Residential property; Built in 1949; Slab foundation; Composition roof
• Construction: Unknown construction materials
• Exterior features: Corner lot

Interior

• Kitchen: Convection oven; Electric cooktop; Disposal
• Bedrooms: Primary bedroom on the first floor (12x12); Two additional bedrooms on the first floor (each 10x10)
• Flooring: Vinyl
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning; Gas cooling component
• Interior features: Ceiling fans
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $577 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.6% 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.
• 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: Cullen Middle (math 6% / reading 14%, grade F, #1,641 of 1,662 statewide, top 99%, 324 students, 100% FRL); Yates H S (math 12% / reading 23%, grade F, #1,451 of 1,632 statewide, top 89%, 851 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 14% at this address vs 31% district-wide (-17 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 (+2.2%/yr); 467 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 2.2% rent growth), your $41k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 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 2.6% of price; flood insurance adds $66/mo; built in 1949 — expect roof / HVAC / electrical / plumbing capex.
• 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 $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.55% ✓
• Cap rate: 11.62%
• Cash-on-cash: 19.02%
• DSCR: 1.85
• GRM: 5.4

CMA / ARV

• ARV (median comp): $374,068
• List price: $145,000
• Delta: -61.24%
• 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
3618 Zephyr St	0.20mi	3/2.0	1,684 (-5%)	3mo	$299,900	$178	78
3607 Zephyr St	0.21mi	3/2.0	1,683 (-5%)	4mo	$299,900	$178	77
6642 Del Rio St	0.29mi	3/2.5	1,696 (-4%)	2mo	$320,000	$189	74
3806 Cosby St	0.27mi	4/2.5 (+1)	1,740 (-2%)	5mo	$265,000	$152	71
6641 Burkett St	0.22mi	3/1.5	1,541 (-13%)	3mo	$159,900	$104	66
6614 Sherwood Dr	0.51mi	3/2.0	1,701 (-4%)	5mo	$149,900	$88	64
3630 Alsace St	0.16mi	3/2.0	1,524 (-14%)	6mo	$289,999	$190	63
6350 Culberson St	0.30mi	3/3.5	1,901 (+7%)	5mo	$329,999	$174	62
6348 Culberson St	0.30mi	3/3.5	1,901 (+7%)	5mo	$329,999	$174	62
3305 Daphne St	0.38mi	3/2.5	1,596 (-10%)	1mo	$299,000	$187	61
3539 Tampa St	0.43mi	4/2.0 (+1)	1,628 (-8%)	6mo	$265,000	$163	54
3911 Alberta St	0.42mi	4/3.0 (+1)	2,000 (+13%)	5mo	$320,000	$160	44

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 · 2.17% rent growth · sell at horizon

5-year hold

• IRR: 7.4%
• Equity multiple: 1.28×
• Total profit: $11,553
• Equity at exit: $21,620

10-year hold

• IRR: 15.9%
• Equity multiple: 2.24×
• Total profit: $50,502
• Equity at exit: $12,537

Cash invested: $40,600 (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 77021

• Home prices YoY: -23.6%
• Rents YoY: 2.2%
• Active inventory: 467
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $2,251 high
• Mortgage (P&I): −$760
• Tax from tax record: −$314 /mo · $3,770/yr
• Insurance: −$60
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$473
• Net cashflow: $577

Break-even live

Break-even rent $1,521

Max offer price $145,000

Occupancy floor 69%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3731 Alsace St Unit 1560804P Houston, TX	3.0	2.0	2002	$3,387	$1.69	3d	1	0.24mi
3560 Dixie Dr Unit 2165 Houston, TX	2.0	2.0	1322	$1,402	$1.06	3d	1	0.31mi
3560 Dixie Dr Unit 3617 Houston, TX	2.0	2.0	1322	$1,435	$1.09	44d	1	0.31mi
3560 Dixie Dr Unit 2162 Houston, TX	2.0	2.0	1322	$1,410	$1.07	5d	1	0.31mi
3560 Dixie Dr Unit 3597 Houston, TX	2.0	2.0	1322	$1,434	$1.08	11d	1	0.31mi
3560 Dixie Dr Apt 422 Houston, TX	2.0	2.0	1322	$1,410	$1.07	8d	1	0.31mi
6336 Culberson St Houston, TX	3.0	3.5	1822	$2,361	$1.30	5d	1	0.33mi
6737 Peerless St Unit A Houston, TX	3.0	3.5	1732	$2,649	$1.53	17d	1	0.33mi
6735 Peerless St Unit CUNIT A Houston, TX	3.0	3.5	1732	$2,649	$1.53	17d	1	0.33mi
6334 Culberson St Houston, TX	3.0	3.5	1822	$2,311	$1.27	2d	1	0.33mi
3311 Daphne St Unit 1255369P Houston, TX	3.0	3.5	1797	$6,544	$3.64	2d	1	0.38mi
3311 Daphne St Unit 3311 Houston, TX	3.0	3.5	1800	$7,500	$4.17	44d	1	0.38mi
3644 Griggs Rd Unit 1047940P Houston, TX	3.0	2.5	1399	$2,161	$1.54	2d	1	0.58mi
3615 Dreyfus St Houston, TX	3.0	3.0	2011	$2,800	$1.39	44d	1	0.67mi
6809 Conley St Houston, TX	3.0	4.0	1921	$2,600	$1.35	44d	1	0.71mi
4135 DuPont St Houston, TX	3.0	4.0	2395	$2,499	$1.04	44d	1	0.82mi
3655 Seabrook St Unit 6 Houston, TX	2.0	1.0	1600	$1,000	$0.62	44d	1	0.86mi
3402 Nathaniel Brown St Unit B Houston, TX	3.0	2.5	1885	$2,025	$1.07	44d	1	0.86mi
5813 England St Unit A Houston, TX	3.0	2.5	1473	$2,195	$1.49	4d	1	0.87mi
3732 Seabrook St Houston, TX	3.0	2.5	1727	$2,350	$1.36	24d	1	0.89mi
3846 Seabrook St Houston, TX	3.0	3.5	1833	$2,300	$1.25	44d	1	0.93mi
3024 Charline Ave Houston, TX	3.0	3.5	1995	$2,950	$1.48	44d	1	0.95mi
7507 Springhill St Houston, TX	3.0	3.5	2000	$4,500	$2.25	44d	1	0.96mi
2956 Old Spanish Trl Unit 436 Houston, TX	3.0	2.0	1412	$2,120	$1.50	44d	1	1.00mi
7373 Ardmore St Houston, TX	1.0–3.0	1.0–2.0	1095	$1,887	$1.72	5d	24	1.04mi
6731 New York St Houston, TX	3.0	3.0	2211	$2,100	$0.95	44d	1	1.04mi
7321 Conley St Unit B Houston, TX	3.0	2.0	1501	$2,025	$1.35	21d	1	1.07mi
7321 Conley St Unit A Houston, TX	3.0	2.5	1869	$2,025	$1.08	21d	1	1.07mi
2950 Old Spanish Trl Unit 3165 Houston, TX	3.0	2.0	1412	$2,177	$1.54	3d	1	1.08mi
2950 Old Spanish Trl Unit 2983 Houston, TX	3.0	2.0	1412	$2,220	$1.57	12d	1	1.08mi
2950 Old Spanish Trl Unit 3174 Houston, TX	3.0	2.0	1412	$2,209	$1.56	11d	1	1.08mi
7379 Ardmore St Unit 1303 Houston, TX	3.0	2.0	1442	$1,967	$1.36	44d	1	1.08mi
7379 Ardmore St Unit 1303 Houston, TX	3.0	2.0	1442	$1,967	$1.36	22d	1	1.08mi
6318 Grand Blvd Houston, TX	3.0	3.5	2325	$2,999	$1.29	4d	1	1.10mi
5505 Zoemark Ln Houston, TX	3.0	3.5	2477	$2,850	$1.15	44d	1	1.11mi
5506 Sampson St Houston, TX	3.0	3.0	1287	$920	$0.71	24d	1	1.13mi
4705 Idaho St Houston, TX	3.0	2.5	1664	$2,500	$1.50	17d	1	1.18mi
6125 Gehring St Houston, TX	2.0	2.0	2041	$2,500	$1.22	44d	1	1.18mi
2380 S Macgregor Way Houston, TX	1.0–3.0	1.0–2.0	1047	$2,345	$2.24	3d	30	1.20mi
2386 S Macgregor Way Houston, TX	2.0	2.0	1227	$1,821	$1.48	44d	1	1.20mi

Listing history 16 events

1. 2026-06-18
   days on market $145,000 Active 37 DOM
2. 2026-06-17
   days on market $145,000 Active 36 DOM
3. 2026-06-16
   days on market $145,000 Active 35 DOM
4. 2026-06-15
   days on market $145,000 Active 34 DOM
5. 2026-06-13
   days on market $145,000 Active 32 DOM
6. 2026-06-10
   days on market $145,000 Active 28 DOM
7. 2026-06-08
   days on market $145,000 Active 27 DOM
8. 2026-06-07
   days on market $145,000 Active 26 DOM
9. 2026-06-04
   days on market $145,000 Active 23 DOM
10. 2026-06-01
    days on market $145,000 Active 20 DOM
11. 2026-05-31
    days on market $145,000 Active 19 DOM
12. 2026-05-12
    listed $145,000 Active 744-char remark
13. 2025-12-31
    historical
14. 2025-08-23
    listed $180,000 Active
15. 2006-07-06
    soldstatus
16. 1988-01-02
    soldstatus

ⓘ 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: $3,770 · $314/mo
• Projected year-2 tax: $3,770 · $314/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 (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,017
• − Mortgage interest: −$8,122
• − Property taxes: −$3,770
• − Insurance: −$1,522
• − Repairs & maintenance: −$2,161
• − Management: −$2,161
• − Depreciation: −$4,218
• Taxable income: $5,061
• Est. tax owed @ 24.0%: −$1,215
• After-tax cash flow: $5,711/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): 26,153
• Household income: $45,574
• Rent vs Own: 58.2% rent · 41.8% own
• Severe rent burden: 2532.0

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 0.55)
• Race & ethnicity: Black 62% Hispanic / Latino 22% Two or more races 12% White 10% Asian 2%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Italian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 11% · Canada
• Languages at home: 77% English-only · Spanish 19% French/Haitian/Cajun 1% Other Indo-European 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: ▼ -71.22%
• Current HPI: 230.2869
• Rent YoY: ▲ 2.17%
• 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

-19.4% since first listed

5 events — show timeline

• 2026-05-12 Listed $145,000 HARMLS
• 2025-12-31 Listing Removed — HARMLS
• 2025-08-23 Listed $180,000 HARMLS
• 2006-07-06 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+7.4%/yr

Latest (2025): $3,770 · +6.6% YoY. Source: county tax records.