6114 Wedgefield St · Houston, TX 77028

$183,000

3 bd · 2.0 ba · 1,472 sqft · SingleFamily public records · 100 Days on market

Built 1940 5,401 sqft lot $124/sqft · 24% below area Est $241k · 24% under

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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).

• Cash flow +15.7/30.0
• ARV discount +15.0/15.0
• Appreciation +7.6/10.0
• 1% rule +4.8/10.0
• DSCR +4.8/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0

Listing remarks MLS

Experience comfortable living in this remodeled 3-bedroom, 2-bath home in Liberty Road Manor. With 1,472 sq. ft. of updated living space, this home features a refreshed kitchen with new countertops, upgraded bathrooms, and modern flooring. The functional layout is perfect for daily living and hosting guests. Recent updates make this home move-in ready and a great choice for families or first-time buyers. Schedule your private showing today!

Key facts

• Move-in ready
• Modern flooring
• Functional layout

Tags

• REMODELED HOME
• REFRESHED KITCHEN
• UPGRADED BATHROOMS
• MODERN FLOORING
• FUNCTIONAL LAYOUT
• MOVE-IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $183k.

Deal economics

• At list price, monthly cash flow is $81 ($970/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $179k (2.0% below list).
• Recommended offer: $167k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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.
• 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.
• Market conditions: Rents soft (-1.6%/yr); 353 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $1,793/mo this rent would consume 56% of the median local household income ($38k/yr) (locally 1177% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (5.2% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.2% appreciation + 0.0% rent growth), your $51k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 100 days — a 9% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 9y ago; this cycle's ask has dropped $12k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $166,530 (9.0% below list)

Questions for the listing agent

1. It's been on market 100 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
8. 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.
9. 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: 0.98% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.89%
• DSCR: 1.08
• GRM: 8.5

CMA / ARV

• ARV (median comp): $240,893
• List price: $183,000
• Delta: -24.03%
• 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
5907 Wedgefield St	0.19mi	3/2.0	1,428 (-3%)	3mo	$229,500	$161	83
7986 Angus St	0.57mi	3/2.0	1,466 (-0%)	0mo	$235,000	$160	73
6111 Haight St	0.16mi	3/2.5	1,627 (+10%)	3mo	$274,000	$168	70
5915 Haight St	0.24mi	3/2.5	1,627 (+10%)	2mo	$282,000	$173	68
8008 Sunbury St	0.44mi	3/2.5	1,553 (+6%)	1mo	$266,000	$171	68
8022 Sunbury St	0.42mi	3/2.5	1,553 (+6%)	4mo	$279,900	$180	66
7963 Miley St	0.49mi	3/2.0	1,550 (+5%)	4mo	$285,000	$184	65
5803 Haight St Unit A	0.34mi	3/2.5	1,627 (+10%)	0mo	$282,000	$173	64
5803 Haight St Unit B	0.34mi	3/2.5	1,627 (+10%)	1mo	$274,000	$168	64
6921 Bacher St	0.59mi	4/2.0 (+1)	1,431 (-3%)	4mo	$235,000	$164	59
7983 Ethel St	0.48mi	3/2.5	1,649 (+12%)	2mo	$255,000	$155	54
7941 Attwater St	0.56mi	3/2.5	1,614 (+10%)	5mo	$235,000	$146	52

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

Projected returns pro-forma

5.25% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 13.7%
• Equity multiple: 1.87×
• Total profit: $44,713
• Equity at exit: $106,438

10-year hold

• IRR: 13.3%
• Equity multiple: 3.36×
• Total profit: $120,722
• Equity at exit: $185,999

Cash invested: $51,240 (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 77028

• Home prices YoY: 2.0%
• Rents YoY: -1.6%
• Active inventory: 353
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,793 high
• Mortgage (P&I): −$960
• Tax from tax record: −$300 /mo · $3,597/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $81

Break-even live

Break-even rent $1,691

Max offer price $183,000

Occupancy floor 90%

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: $45,750
• Closing costs: $5,490
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8135 Chateau St Houston, TX	3.0	3.0	1610	$1,645	$1.02	11d	1	0.26mi
8119 Saint Louis St Houston, TX	3.0	2.0	1090	$1,349	$1.24	44d	1	0.27mi
8117 Saint Louis St Houston, TX	3.0	2.0	1090	$1,335	$1.22	22d	1	0.27mi
8158 Sunbury St Houston, TX	3.0	2.5	1300	$1,525	$1.17	24d	1	0.28mi
7966 Henson St Unit B Houston, TX	3.0	2.0	1608	$1,410	$0.88	44d	1	0.54mi
7947 Henson St Houston, TX	3.0	2.0	1090	$1,349	$1.24	5d	1	0.59mi
7945 Henson St Houston, TX	3.0	2.0	1300	$1,699	$1.31	5d	1	0.59mi
5426 E Houston Rd Unit A Houston, TX	3.0	2.5	1608	$1,695	$1.05	15d	1	0.61mi
5415 Bacher St Unit A Houston, TX	3.0	2.5	1540	$2,350	$1.53	24d	1	0.62mi
5415 Bacher St Unit A Houston, TX	3.0	2.5	1540	$2,350	$1.53	44d	1	0.62mi
7973 Ritz St Houston, TX	3.0	2.0	1076	$2,250	$2.09	8d	1	0.71mi
7956 Bonaire St Unit A Houston, TX	3.0	2.5	1498	$2,100	$1.40	44d	1	0.75mi
7956 Bonaire St Unit B Houston, TX	3.0	2.5	1498	$2,150	$1.44	44d	1	0.75mi
7839 Sandy St Houston, TX	3.0	2.0	1300	$1,595	$1.23	5d	1	0.77mi
7830 Nashville St Houston, TX	3.0	2.0	1175	$1,800	$1.53	8d	1	0.80mi
7600 E Houston Rd Houston, TX	1.0–3.0	1.0–2.0	1017	$1,436	$1.41	14d	8	0.97mi
8309 Carolwood Dr Houston, TX	3.0	1.0	938	$1,350	$1.44	44d	1	1.20mi
8113 Denton St Houston, TX	3.0	2.0	1150	$1,750	$1.52	44d	1	1.21mi
8102 Crestview Dr Unit A Houston, TX	3.0	2.5	1800	$1,900	$1.06	22d	1	1.28mi
8102 Crestview Dr Unit B Houston, TX	3.0	2.5	1600	$1,900	$1.19	44d	1	1.28mi
8216 Richland Dr Unit B Houston, TX	3.0	2.0	1150	$1,750	$1.52	44d	1	1.30mi
8213 Linda Vista Rd Houston, TX	3.0	2.0	1298	$1,625	$1.25	24d	1	1.39mi
7804 Crestview Dr Unit A Houston, TX	3.0	2.0	1150	$1,550	$1.35	22d	1	1.44mi

Listing history 50 events

1. 2026-06-18
   days on market $183,000 Active 100 DOM
2. 2026-06-17
   days on market $183,000 Active 99 DOM
3. 2026-06-16
   days on market $183,000 Active 98 DOM
4. 2026-06-15
   days on market $183,000 Active 97 DOM
5. 2026-06-13
   days on market $183,000 Active 95 DOM
6. 2026-06-10
   days on market $183,000 Active 91 DOM
7. 2026-06-08
   days on market $183,000 Active 90 DOM
8. 2026-06-07
   days on market $183,000 Active 89 DOM
9. 2026-06-04
   days on market $183,000 Active 86 DOM
10. 2026-06-01
    days on market $183,000 Active 83 DOM
11. 2026-05-31
    days on market $183,000 Active 82 DOM
12. 2026-04-28
    price $183,000 444-char remark

    Show marketing remark (444 chars)

    Experience comfortable living in this remodeled 3-bedroom, 2-bath home in Liberty Road Manor. With 1,472 sq. ft. of updated living space, this home features a refreshed kitchen with new countertops, upgraded bathrooms, and modern flooring. The functional layout is perfect for daily living and hosting guests. Recent updates make this home move-in ready and a great choice for families or first-time buyers. Schedule your private showing today!

13. 2026-03-10
    listed $195,000 Active 444-char remark

    Show marketing remark (444 chars)

    Experience comfortable living in this remodeled 3-bedroom, 2-bath home in Liberty Road Manor. With 1,472 sq. ft. of updated living space, this home features a refreshed kitchen with new countertops, upgraded bathrooms, and modern flooring. The functional layout is perfect for daily living and hosting guests. Recent updates make this home move-in ready and a great choice for families or first-time buyers. Schedule your private showing today!

14. 2026-03-10
    historical

    Show marketing remark (444 chars)

    Experience comfortable living in this remodeled 3-bedroom, 2-bath home in Liberty Road Manor. With 1,472 sq. ft. of updated living space, this home features a refreshed kitchen with new countertops, upgraded bathrooms, and modern flooring. The functional layout is perfect for daily living and hosting guests. Recent updates make this home move-in ready and a great choice for families or first-time buyers. Schedule your private showing today!

15. 2026-02-10
    listed $195,000 Active
16. 2026-02-10
    historical
17. 2026-01-13
    listed $195,000 Active
18. 2025-12-04
    status Active
19. 2025-12-04
    historical
20. 2025-11-30
    historical
21. 2025-11-03
    price $195,500
22. 2025-07-16
    listed $199,900 Active
23. 2025-07-16
    historical
24. 2025-06-17
    price $208,000
25. 2025-04-22
    price $215,000
26. 2025-02-19
    price $218,000
27. 2025-02-19
    price $180,000
28. 2025-02-06
    listed $220,000 Active
29. 2024-09-11
    historical $1,600
30. 2024-08-29
    price $1,600
31. 2024-08-22
    historical
32. 2024-08-20
    listed $285,000 Active
33. 2024-08-13
    listed $1,650
34. 2024-08-13
    historical $1,700
35. 2024-07-31
    listed $1,700
36. 2024-07-11
    historical $1,750
37. 2024-07-10
    historical
38. 2024-05-21
    price $1,750
39. 2024-05-14
    listed $1,800
40. 2024-04-22
    listed $259,950 Active
41. 2024-04-22
    historical
42. 2024-02-27
    price $289,950
43. 2024-02-05
    price $299,500
44. 2024-01-30
    price $324,950
45. 2024-01-23
    price $336,500
46. 2024-01-09
    price $340,500
47. 2023-12-27
    listed $348,900 Active
48. 2022-10-28
    soldstatus
49. 2022-10-17
    historical
50. 2022-09-25
    listed $115,000 Active

ⓘ 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: $3,597 · $300/mo
• Projected year-2 tax: $3,597 · $300/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $21,517
• − Mortgage interest: −$10,251
• − Property taxes: −$3,597
• − Insurance: −$915
• − Repairs & maintenance: −$1,721
• − Management: −$1,721
• − Depreciation: −$5,324
• Taxable loss: −$2,013
• Est. tax savings @ 24.0%: +$483
• After-tax cash flow: $1,453/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): 19,109
• Household income: $38,357
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1177.0

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: Majority Black (57%)
• Race & ethnicity: Black 57% Hispanic / Latino 41% Two or more races 15% White 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 13% · Canada
• Languages at home: 61% English-only · Spanish 38%

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: ▲ 5.25%
• Current HPI: 267.7798
• Rent YoY: ▼ -1.55%
• 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

+945.7% since first listed

42 events — show timeline

• 2026-04-28 Price Changed $183,000 HARMLS
• 2026-03-10 Listing Removed — HARMLS
• 2026-03-10 Listed $195,000 HARMLS
• 2026-02-10 Listing Removed — HARMLS
• 2026-02-10 Listed $195,000 HARMLS
• 2026-01-13 Listed $195,000 HARMLS
• 2025-12-04 Relisted — HARMLS
• 2025-12-04 Listing Removed — HARMLS
• 2025-11-30 Listing Removed — HARMLS
• 2025-11-03 Price Changed $195,500 HARMLS
• 2025-07-16 Listing Removed — HARMLS
• 2025-07-16 Listed $199,900 HARMLS
• 2025-06-17 Price Changed $208,000 HARMLS
• 2025-04-22 Price Changed $215,000 HARMLS
• 2025-02-19 Price Changed $218,000 HARMLS
• 2025-02-19 Price Changed $180,000 HARMLS
• 2025-02-06 Listed $220,000 HARMLS
• 2024-09-11 Rental Removed $1,600 HARMLS
• 2024-08-29 Price Changed $1,600 HARMLS
• 2024-08-22 Listing Removed — HARMLS
• 2024-08-20 Listed $285,000 HARMLS
• 2024-08-13 Listed for Rent $1,650 HARMLS
• 2024-08-13 Rental Removed $1,700 HARMLS
• 2024-07-31 Listed for Rent $1,700 HARMLS
• 2024-07-11 Rental Removed $1,750 HARMLS
• 2024-07-10 Listing Removed — HARMLS
• 2024-05-21 Price Changed $1,750 HARMLS
• 2024-05-14 Listed for Rent $1,800 HARMLS
• 2024-04-22 Listing Removed — HARMLS
• 2024-04-22 Listed $259,950 HARMLS
• 2024-02-27 Price Changed $289,950 HARMLS
• 2024-02-05 Price Changed $299,500 HARMLS
• 2024-01-30 Price Changed $324,950 HARMLS
• 2024-01-23 Price Changed $336,500 HARMLS
• 2024-01-09 Price Changed $340,500 HARMLS
• 2023-12-27 Listed $348,900 HARMLS
• 2022-10-28 Sold (Public Records) — Public Records
• 2022-10-17 Listing Removed — HARMLS
• 2022-09-25 Listed $115,000 HARMLS
• 2018-05-28 Sold (MLS) — HARMLS
• 2017-06-23 Listed $17,500 HARMLS
• 1997-09-12 Sold (Public Records) — Public Records

Property tax history

+9.4%/yr

Latest (2025): $3,597 · +23.6% YoY. Source: county tax records.