509 W Oak St · Highlands, TX 77562

$99,000

3 bd · 1.0 ba · 1,410 sqft · SingleFamily public records · 10 Days on market

Built 1952 6,599 sqft lot

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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
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Honey stop the car! This country charmer is ready for a new owner! The large kitchen, dining and living areas are welcoming and bright. Features such as original hardwood floors, new kitchen flooring, walk in pantry, updated bathroom, newer appliances, and fresh paint bring everything together. There is even a spacious covered patio and fenced backyard for peaceful morning and evening relaxation. Don't miss out on this adorable home!

Key facts

• 6,599 sq ft lot
• 2 garage spots
• Built 1952

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 1952; Single-story (all main rooms listed on first floor); Slab foundation; Composition roof
• Construction: Wood siding construction; Slab foundation; Composition roof
• Exterior features: Covered patio; Patio; Deck; Fenced backyard; Subdivision lot setting; Concrete road access

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Breakfast bar (open to living area)
• Bedrooms: Three bedrooms on the first floor (primary: 12 x 11; two additional bedrooms: 11 x 11 and 11 x 10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Breakfast bar
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $898 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $99k).
• Cap rate 17.2% vs local median 5.2% in Highlands — 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 64/100 on livability (#738 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, employment D+, amenities F.
• Goose Creek CISD (urban): math 37% / reading 36% proficiency, ranked #473 of 826 in TX (top 57%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 61% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Highlands J H (math 46% / reading 37%, grade F, #595 of 1,662 statewide, top 37%, 994 students, 82% FRL); Goose Creek Memorial (math 28% / reading 45%, grade F, #924 of 1,632 statewide, top 57%, 2,223 students, 70% FRL).
• Market conditions: 74 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $684 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price; built in 1952 — 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,000

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 2.29% ✓
• Cap rate: 17.18%
• Cash-on-cash: 38.87%
• DSCR: 2.73
• GRM: 3.6

CMA / ARV

• ARV (on-the-fly): $208,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 W Wallisville Rd	0.36mi	3/2.0	1,456 (+3%)	14mo	$189,900	$130	62
402 E Oak St	0.10mi	3/2.0	1,590 (+13%)	17mo	$235,000	$148	56
213 Red Haven Dr	0.72mi	3/2.0	1,456 (+3%)	8mo	$235,500	$162	50
327 Brompton Ct	0.75mi	3/2.0	1,494 (+6%)	4mo	$180,000	$120	48
314 Enfield Dr	0.67mi	3/2.0	1,421 (+1%)	18mo	$211,000	$148	48
331 Enfield Dr	0.69mi	3/2.0	1,494 (+6%)	9mo	$210,000	$141	46
502 Corley Dr	0.52mi	3/2.0	1,284 (-9%)	16mo	$200,000	$156	43
205 Timber Ln	0.66mi	4/1.5 (+1)	1,530 (+8%)	6mo	$220,000	$144	43
414 Enfield Dr	0.66mi	3/3.0	1,494 (+6%)	11mo	$240,000	$161	42
306 Hackberry Dr	0.53mi	3/2.0	1,564 (+11%)	14mo	$249,900	$160	41
327 Enfield Dr	0.69mi	3/2.0	1,569 (+11%)	6mo	$205,000	$131	40
206 Inwood Ln	0.63mi	4/2.0 (+1)	1,572 (+12%)	16mo	$235,000	$149	29

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: 35.1%
• Equity multiple: 2.49×
• Total profit: $41,314
• Equity at exit: $14,761

10-year hold

• IRR: 42.0%
• Equity multiple: 4.98×
• Total profit: $110,283
• Equity at exit: $8,560

Cash invested: $27,720 (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 77562

• Home prices YoY: -24.9%
• Active inventory: 74
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $2,268 medium
• Mortgage (P&I): −$519
• Tax from tax record: −$333 /mo · $4,001/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $898

Break-even live

Break-even rent $1,131

Max offer price $99,000

Occupancy floor 55%

Sensitivity live

Price	-10% $954	-5% $926	+0% $898	+5% $870	+10% $842
Rent	-10% $719	-5% $808	+0% $898	+5% $988	+10% $1,077
Rate	-1.0pp $948	-0.5pp $923	base $898	+0.5pp $872	+1.0pp $846

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 Riverside St Highlands, TX	3.0	2.0	1404	$2,600	$1.85	3d	1	0.64mi
508 Julie Ln Highlands, TX	3.0	2.0	1282	$1,750	$1.37	44d	1	0.91mi

Listing history 7 events

1. 2026-06-10
   status $99,000 Pending 10 DOM
2. 2026-06-09
   days on market $99,000 Active 10 DOM
3. 2026-06-07
   days on market $99,000 Active 8 DOM
4. 2026-06-04
   days on market $99,000 Active 5 DOM
5. 2026-06-03
   days on market $99,000 Active 4 DOM
6. 2026-06-02
   days on market $99,000 Active 3 DOM
7. 2026-06-01
   days on market $99,000 Active 2 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: $4,001 · $333/mo
• Projected year-2 tax: $4,001 · $333/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 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 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: $27,218
• − Mortgage interest: −$5,546
• − Property taxes: −$4,001
• − Insurance: −$495
• − Repairs & maintenance: −$2,177
• − Management: −$2,177
• − Depreciation: −$2,880
• Taxable income: $9,941
• Est. tax owed @ 24.0%: −$2,386
• After-tax cash flow: $8,390/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: Goose Creek CISD
• NCES district ID: 4821150
• Math proficiency: 37% ▼ -11.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $52,468
• Composite: 31.84/100
• National rank: #5877
• State rank: #473 of 826 in TX

Livability — Highlands

• Score: 64/100
• State rank: #738
• US rank: #13697

Category grades

Amenities F Commute F Cost of living A+ Crime C- Employment D+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Highlands, TX
• City population: 9,805
• Population (ZIP): 9,805

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 0.62)
• Race & ethnicity: White 48% Hispanic / Latino 38% Two or more races 19% Black 7% Native American 2%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Lithuanian 2% Italian 1% Iranian 1%
• Foreign-born: 15% · Canada, Jamaica
• Languages at home: 69% English-only · Spanish 29% German/W. Germanic 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: ▼ -100.57%
• Current HPI: 303.5126
• Rent YoY: —
• Metro: —
• 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

+32.0% since first listed

21 events — show timeline

• 2026-05-30 Listed $99,000 HARMLS
• 2026-05-29 Coming Soon $99,000 HARMLS
• 2026-01-10 Pending — HARMLS
• 2026-01-09 Pending — HARMLS
• 2025-12-31 Listing Removed — HARMLS
• 2025-10-09 Price Changed $130,000 HARMLS
• 2025-09-19 Price Changed $149,100 HARMLS
• 2025-09-03 Price Changed $159,900 HARMLS
• 2025-08-25 Listed $165,000 HARMLS
• 2019-03-27 Sold (Public Records) — Public Records
• 2019-03-26 Sold (MLS) — HARMLS
• 2019-03-24 Pending — HARMLS
• 2019-03-04 Pending — HARMLS
• 2019-02-22 Pending — HARMLS
• 2019-02-01 Listed $129,500 HARMLS
• 2016-03-18 Sold (Public Records) — Public Records
• 2016-03-16 Sold (MLS) — HARMLS
• 2016-03-06 Pending — HARMLS
• 2016-02-22 Pending — HARMLS
• 2016-01-17 Listed $75,000 HARMLS
• 1988-11-05 Sold (Public Records) — Public Records

Property tax history

+5.1%/yr

Latest (2025): $4,001 · +10.1% YoY. Source: county tax records.