8110 Enchanted Forest Dr · Houston, TX 77088

$188,500

3 bd · 2.0 ba · 2,182 sqft · SingleFamily public records · 157 Days on market

Built 1978 6,359 sqft lot $86/sqft · 19% below area Est $232k · 19% under $26/mo HOA · 1% of rent

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Why this score? — see what drove the C- 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 +15.0/15.0
• Cash flow +13.4/30.0
• 1% rule +5.8/10.0
• Schools +4.1/10.0
• DSCR +4.0/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• 6,359 sq ft lot
• 2 garage spots
• Community pool

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $188k.

Deal economics

• At list price, monthly cash flow is $3 ($40/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $188k).
• Recommended offer: $166k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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.
• Klein ISD (suburban): math 41% / reading 48% proficiency, ranked #213 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-1.0%/yr); 468 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).
• This rent runs 45% of the median local income ($54k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 157 days — a 12% lower offer ($166k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask is 5% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price.
• 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 $165,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — 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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.08% ✓
• Cap rate: 6.31%
• Cash-on-cash: 0.08%
• DSCR: 1.00
• GRM: 7.7

CMA / ARV

• ARV (median comp): $231,704
• List price: $188,500
• Delta: -18.65%
• 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
5506 Cactus Forest Dr	0.21mi	3/2.0	2,030 (-7%)	1mo	$287,000	$141	77
8014 Streamside Dr	0.26mi	4/2.5 (+1)	2,194 (+0%)	4mo	$205,000	$93	76
6011 Green Falls Dr	0.50mi	4/2.0 (+1)	2,154 (-1%)	3mo	$235,000	$109	67
6111 Ogden Forest Dr	0.67mi	3/2.0	2,167 (-1%)	3mo	$277,000	$128	65
8019 Green Lawn Dr	0.44mi	4/2.5 (+1)	2,306 (+6%)	1mo	$310,000	$134	62
7934 Bayou Forest Dr	0.65mi	3/2.5	2,350 (+8%)	1mo	$245,000	$104	54
5523 Fair Forest Dr	0.69mi	4/2.0 (+1)	2,137 (-2%)	6mo	$225,000	$105	54
8810 Enchanted Forest Dr	0.58mi	3/2.0	1,968 (-10%)	5mo	$226,000	$115	52
5639 Council Grove Ln	0.73mi	4/2.5 (+1)	2,243 (+3%)	4mo	$265,000	$118	51
7750 Green Lawn Dr	0.66mi	3/2.0	1,986 (-9%)	6mo	$229,000	$115	49
7939 Green Lawn Dr	0.51mi	3/2.5	2,509 (+15%)	3mo	$359,999	$143	47
5418 Long Creek Ln	0.72mi	3/2.0	1,960 (-10%)	7mo	$249,900	$128	43

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: -20.3%
• Equity multiple: 0.32×
• Total profit: $-36,069
• Equity at exit: $28,106

10-year hold

• IRR: -24.6%
• Equity multiple: -0.01×
• Total profit: $-53,260
• Equity at exit: $16,298

Cash invested: $52,780 (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 77088

• Home prices YoY: -23.2%
• Rents YoY: -1.0%
• Active inventory: 468
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,030 high
• Mortgage (P&I): −$989
• Tax from tax record: −$508 /mo · $6,091/yr
• Insurance: −$79
• HOA: −$26
• Vacancy / Maint / Mgmt: −$426
• Net cashflow: $3

Break-even live

Break-even rent $2,026

Max offer price $188,500

Occupancy floor 95%

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: $47,125
• Closing costs: $5,655
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6018 Elkwood Forest Dr Houston, TX	3.0	2.0	1840	$1,975	$1.07	44d	1	0.52mi
5415 Fair Forest Dr Houston, TX	3.0	2.0	1752	$1,861	$1.06	20d	1	0.67mi
5218 Long Creek Ln Houston, TX	4.0	2.0	1941	$2,000	$1.03	44d	1	0.71mi
8402 Storm Creek Ct Houston, TX	4.0	2.5	2612	$2,083	$0.80	13d	1	0.84mi
8822 Woodcamp Dr Houston, TX	3.0	2.5	1687	$1,740	$1.03	5d	1	0.85mi
3018 Stallings Dr Houston, TX	4.0	2.0	1512	$1,550	$1.03	44d	1	0.95mi
7628 Inwood Hills Ln Houston, TX	3.0	3.0	1768	$2,500	$1.41	44d	1	1.09mi
11606 Alpine Vale Ct Houston, TX	4.0	2.5	2700	$2,250	$0.83	44d	1	1.20mi
6807 Ashland Forest Dr Houston, TX	3.0	2.0	1790	$1,850	$1.03	44d	1	1.26mi
7137 Cheshire Park Rd Houston, TX	4.0	2.5	1912	$1,989	$1.04	8d	1	1.43mi

HOA detail

• Monthly dues: $26 · $312/yr

Listing history 24 events

1. 2026-06-18
   days on market $188,500 Active 157 DOM
2. 2026-06-17
   days on market $188,500 Active 156 DOM
3. 2026-06-16
   days on market $188,500 Active 155 DOM
4. 2026-06-15
   days on market $188,500 Active 154 DOM
5. 2026-06-13
   days on market $188,500 Active 152 DOM
6. 2026-06-09
   days on market $188,500 Active 148 DOM
7. 2026-06-08
   days on market $188,500 Active 147 DOM
8. 2026-06-07
   days on market $188,500 Active 146 DOM
9. 2026-06-04
   days on market $188,500 Active 143 DOM
10. 2026-06-03
    days on market $188,500 Active 142 DOM
11. 2026-06-02
    days on market $188,500 Active 141 DOM
12. 2026-06-01
    days on market $188,500 Active 140 DOM
13. 2026-05-31
    days on market $188,500 Active 139 DOM
14. 2026-02-24
    price $188,500
15. 2026-02-09
    status Active
16. 2026-02-04
    status Pending
17. 2026-01-12
    listed $178,999 Active
18. 2025-05-01
    historical
19. 2025-04-25
    listed $207,000 Active
20. 2018-10-22
    soldstatus
21. 2018-10-19
    soldstatus Sold
22. 2018-07-16
    status Pending
23. 2018-06-29
    listed $164,000 Active
24. 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: $6,091 · $508/mo
• Projected year-2 tax: $6,091 · $508/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,364
• − Mortgage interest: −$10,559
• − Property taxes: −$6,091
• − Insurance: −$942
• − Repairs & maintenance: −$1,949
• − Management: −$1,949
• − HOA: −$312
• − Depreciation: −$5,484
• Taxable loss: −$2,922
• Est. tax savings @ 24.0%: +$701
• After-tax cash flow: $741/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: Klein ISD
• NCES district ID: 4825740
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $78,288
• Composite: 40.91/100
• National rank: #3615
• State rank: #213 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): 57,047
• Household income: $54,411
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 2294.0

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 0.59)
• Race & ethnicity: Hispanic / Latino 52% Black 37% Two or more races 18% White 6% Asian 4%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Lithuanian 1%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 49% English-only · Spanish 47% Vietnamese 3%

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: ▼ -98.37%
• Current HPI: 325.0499
• Rent YoY: ▼ -1.01%
• 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

+14.9% since first listed

11 events — show timeline

• 2026-02-24 Price Changed $188,500 HARMLS
• 2026-02-09 Relisted — HARMLS
• 2026-02-04 Pending — HARMLS
• 2026-01-12 Listed $178,999 HARMLS
• 2025-05-01 Listing Removed — HARMLS
• 2025-04-25 Listed $207,000 HARMLS
• 2018-10-22 Sold (Public Records) — Public Records
• 2018-10-19 Sold (MLS) — HARMLS
• 2018-07-16 Pending — HARMLS
• 2018-06-29 Listed $164,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+7.7%/yr

Latest (2025): $6,091 · +7.5% YoY. Source: county tax records.