24532 Tyrone · Hempstead, TX 77445

$124,950

2 bd · 1.0 ba · 1,416 sqft · SingleFamily public records · 154 Days on market

$88/sqft · 57% below area $5/mo HOA ↓ 22% since listing

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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 +13.6/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• DSCR +4.1/10.0
• Livability +3.0/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Beautiful 1+ acre wooded property, that includes a second .25 acre lot directly across the street! New homes in the area. This lot is ready for your dream home. Clean up and stay in existing home while you build the other! Existing home is 2bd/1 ba, and1,416 sq ft, unknown condition so be careful while touring. Priced to sell quickly!

Key facts

• Listed 153 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $-59 ($-707/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (8.3% below list).
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 2.3% in Hempstead — 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 60/100 on livability (#1,099 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, employment D, schools 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: 422 active listings in the ZIP; 483 units permitted in Waller County in 2024 (89 in 5+ unit buildings).

Forward outlook

• In year one you build about $13k of equity ($864 loan paydown + $12k appreciation (10.0% local appreciation)).
• Waller County population projected at +62% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 154 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 2.6% of price; flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,956 (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 154 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
9. Crime grade is D 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?
10. 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.
11. 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.
12. 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: 1.01% ✓
• Cap rate: 6.37%
• Cash-on-cash: 0.26%
• DSCR: 1.01
• GRM: 8.3

CMA / ARV

• ARV (median comp): $292,035
• List price: $124,950
• Delta: -57.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24350 Douwn St	0.48mi	3/2.0 (+1)	1,395 (-2%)	0mo	$295,000	$211	66
24459 Galway St	0.22mi	3/2.0 (+1)	1,456 (+3%)	17mo	$295,000	$203	62
38705 West Dr	0.36mi	3/2.0 (+1)	1,368 (-3%)	15mo	$185,000	$135	56
24628 Leitrim St	0.17mi	3/2.0 (+1)	1,562 (+10%)	14mo	$345,000	$221	54
24571 Meath St	0.52mi	3/2.0 (+1)	1,496 (+6%)	7mo	$249,000	$166	51
24690 Galway St	0.23mi	3/2.5 (+1)	1,600 (+13%)	9mo	$299,900	$187	50
24601 Tipperary St	0.73mi	3/2.0 (+1)	1,398 (-1%)	7mo	$375,000	$268	49
24493 Kildare St	0.44mi	2/3.0	1,449 (+2%)	22mo	$320,000	$221	49
24629 Waterford St	0.61mi	3/2.0 (+1)	1,581 (+12%)	9mo	$300,000	$190	36
24664 Kerry St	0.61mi	3/2.5 (+1)	1,608 (+14%)	22mo	$299,999	$187	20

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.9%
• Equity multiple: 2.84×
• Total profit: $64,436
• Equity at exit: $112,565

10-year hold

• IRR: 20.5%
• Equity multiple: 6.52×
• Total profit: $192,974
• Equity at exit: $242,750

Cash invested: $34,986 (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 77445

• Home prices YoY: 12.3%
• Active inventory: 422
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,260 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$275 /mo · $3,303/yr
• Insurance: −$52
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$5
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $-59

Break-even live

Break-even rent $1,334

Max offer price $114,545

Occupancy floor 100%

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: $31,238
• Closing costs: $3,748
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $5 · $60/yr

Listing history 15 events

1. 2026-02-04
   status Active 336-char remark

   Show marketing remark (336 chars)

   Beautiful 1+ acre wooded property, that includes a second .25 acre lot directly across the street! New homes in the area. This lot is ready for your dream home. Clean up and stay in existing home while you build the other! Existing home is 2bd/1 ba, and1,416 sq ft, unknown condition so be careful while touring. Priced to sell quickly!

2. 2026-01-09
   status Pending 336-char remark

   Show marketing remark (336 chars)

   Beautiful 1+ acre wooded property, that includes a second .25 acre lot directly across the street! New homes in the area. This lot is ready for your dream home. Clean up and stay in existing home while you build the other! Existing home is 2bd/1 ba, and1,416 sq ft, unknown condition so be careful while touring. Priced to sell quickly!

3. 2025-12-31
   status Pending 336-char remark

   Show marketing remark (336 chars)

   Beautiful 1+ acre wooded property, that includes a second .25 acre lot directly across the street! New homes in the area. This lot is ready for your dream home. Clean up and stay in existing home while you build the other! Existing home is 2bd/1 ba, and1,416 sq ft, unknown condition so be careful while touring. Priced to sell quickly!

4. 2025-12-12
   status Active 336-char remark

   Show marketing remark (336 chars)

   Beautiful 1+ acre wooded property, that includes a second .25 acre lot directly across the street! New homes in the area. This lot is ready for your dream home. Clean up and stay in existing home while you build the other! Existing home is 2bd/1 ba, and1,416 sq ft, unknown condition so be careful while touring. Priced to sell quickly!

5. 2025-07-26
   status Pending 336-char remark

   Show marketing remark (336 chars)

   Beautiful 1+ acre wooded property, that includes a second .25 acre lot directly across the street! New homes in the area. This lot is ready for your dream home. Clean up and stay in existing home while you build the other! Existing home is 2bd/1 ba, and1,416 sq ft, unknown condition so be careful while touring. Priced to sell quickly!

6. 2025-07-10
   listed $124,950 Active 336-char remark

   Show marketing remark (336 chars)

   Beautiful 1+ acre wooded property, that includes a second .25 acre lot directly across the street! New homes in the area. This lot is ready for your dream home. Clean up and stay in existing home while you build the other! Existing home is 2bd/1 ba, and1,416 sq ft, unknown condition so be careful while touring. Priced to sell quickly!

7. 2025-07-01
   historical
8. 2025-06-07
   price $124,950
9. 2025-05-31
   price $134,900
10. 2025-05-13
    listed $139,950 Active
11. 2025-05-13
    historical
12. 2024-07-02
    soldstatus
13. 2024-03-18
    historical
14. 2024-03-12
    price $150,000
15. 2024-03-07
    listed $160,000 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: $3,303 · $275/mo
• Projected year-2 tax: $3,303 · $275/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,116
• − Mortgage interest: −$6,999
• − Property taxes: −$3,303
• − Insurance: −$1,422
• − Repairs & maintenance: −$1,209
• − Management: −$1,209
• − HOA: −$60
• − Depreciation: −$3,635
• Taxable loss: −$2,722
• Est. tax savings @ 24.0%: +$653
• After-tax cash flow: $-53/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: 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 — Hempstead

• Score: 60/100
• State rank: #1099
• US rank: #19446

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 14,943
• Population (ZIP): 14,943

Population outlook (Waller County) Hauer SSP2

• Today (2025): 60,772 people
• By 2030: 67,616 · +11.3%
• By 2040: 82,283 · +35.4%
• By 2050: 98,276 · +61.7%
• By 2075: 142,860 · +135.1%
• By 2100: 175,596 · +188.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Hispanic / Latino 34% White 32% Black 31% Two or more races 10% Native American 2%
• Hispanic origin (detail): Mexican 30% Cuban 1%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 13% · Canada
• Languages at home: 74% English-only · Spanish 25%

Political lean MEDSL · Waller

• 2024 margin: Strong R (+25.0) · D 37.0% · R 62.0% · Other 1.0%
• 2008→2024 swing: -17.9pp toward R · 2008: -7.2pp · 2024: -25.0pp
• All cycles: 2024: R+25.0 2020: R+26.7 2016: R+28.6 2012: R+17.6 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 39.43%
• Current HPI: 359.93
• 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

-21.9% since first listed

15 events — show timeline

• 2026-02-04 Relisted — HARMLS
• 2026-01-09 Pending — HARMLS
• 2025-12-31 Pending — HARMLS
• 2025-12-12 Relisted — HARMLS
• 2025-07-26 Pending — HARMLS
• 2025-07-10 Listed $124,950 HARMLS
• 2025-07-01 Listing Removed — HARMLS
• 2025-06-07 Price Changed $124,950 HARMLS
• 2025-05-31 Price Changed $134,900 HARMLS
• 2025-05-13 Listed $139,950 HARMLS
• 2025-05-13 Coming Soon — HARMLS
• 2024-07-02 Sold (Public Records) — Public Records
• 2024-03-18 Listing Removed — HARMLS
• 2024-03-12 Price Changed $150,000 HARMLS
• 2024-03-07 Listed $160,000 HARMLS

Property tax history

+6.6%/yr

Latest (2025): $3,303 · +3.4% YoY. Source: county tax records.