104 Avenue E · Highlands, TX 77562

$207,500

3 bd · 1.0 ba · 1,346 sqft · SingleFamily public records · 38 Days on market

Built 1940 0.42 ac lot $154/sqft · 25% above area Est $165k · 25% over

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Why this score? — see what drove the D 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 +20.5/30.0
• DSCR +6.5/10.0
• 1% rule +5.3/10.0
• Schools +3.2/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Unique and special property in the heart of this great little community of Highlands, TX. Adjacent to commercial property and unrestricted, this property could be a home or possibly a business. Clean and well-maintained home has oversized, detached garage and large, cleared section of land that is open for many possibilities. Total lot size is over 18,000 SF; almost 1/2 acre. Seller would like you to know this property has never flooded, nor even come close; it's in the name. .. HIGHLANDS. Schedule a tour when you are ready! Room dimensions are approximate.

Key facts

• Never flooded
• 0.42 acre lot
• 4 garage spots

Tags

• OVERSIZED DETACHED GARAGE
• LARGE CLEARED SECTION OF LAND
• NEVER FLOODED

Property features AI

Finance

• Other: Seller disclosure available

Exterior

• Parking: Detached oversized garage; Additional parking; Garage with 4 spaces
• Home design: Residential property facing south; One-story entry level
• Construction: Built in 1940; Wood siding; Composition roof; Block foundation
• Exterior features: Cleared lot; Asphalt road access

Interior

• Kitchen: Electric cooktop; Electric oven; Gas range
• Bedrooms: Three first-floor bedrooms (22x18, 13x14, 15x12)
• Flooring: Laminate flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Ceiling fans
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $208k.

Deal economics

• At list price, monthly cash flow is $274 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $208k).
• Recommended offer: $201k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 El (math 33% / reading 33%, grade F, #2,208 of 4,322 statewide, top 52%, 739 students, 83% FRL); 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) — zoned schools average 78% FRL vs 61% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 76 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 $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 38 days — a 3% lower offer ($201k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $201,275 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 1.03% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.67%
• DSCR: 1.25
• GRM: 8.1

CMA / ARV

• ARV (median comp): $165,383
• List price: $207,500
• Delta: 25.47%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 W Wallisville Rd	0.46mi	3/2.0	1,456 (+8%)	14mo	$189,900	$130	49
1105 S Main St	0.66mi	2/1.0 (-1)	1,410 (+5%)	10mo	$140,000	$99	48
213 N 4th St	0.47mi	2/2.0 (-1)	1,152 (-14%)	6mo	$225,000	$195	40
311 Chestnut Dr	0.59mi	3/2.0	1,478 (+10%)	21mo	$229,900	$156	35

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: -7.5%
• Equity multiple: 0.72×
• Total profit: $-16,126
• Equity at exit: $30,939

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $8,533
• Equity at exit: $17,941

Cash invested: $58,100 (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: 76
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,130 medium
• Mortgage (P&I): −$1,088
• Tax from tax record: −$233 /mo · $2,799/yr
• Insurance: −$86
• HOA: −$0
• Vacancy / Maint / Mgmt: −$447
• Net cashflow: $274

Break-even live

Break-even rent $1,782

Max offer price $207,500

Occupancy floor 82%

Sensitivity live

Price	-10% $392	-5% $333	+0% $274	+5% $216	+10% $157
Rent	-10% $106	-5% $190	+0% $274	+5% $359	+10% $443
Rate	-1.0pp $379	-0.5pp $327	base $274	+0.5pp $221	+1.0pp $166

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: $51,875
• Closing costs: $6,225
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
508 Julie Ln Highlands, TX	3.0	2.0	1282	$1,750	$1.37	45d	1	1.03mi
305 Riverside St Highlands, TX	3.0	2.0	1404	$2,600	$1.85	4d	1	1.28mi

Listing history 15 events

1. 2026-06-21
   days on market $207,500 Active 38 DOM
2. 2026-06-18
   days on market $207,500 Active 35 DOM
3. 2026-06-17
   days on market $207,500 Active 34 DOM
4. 2026-06-16
   days on market $207,500 Active 33 DOM
5. 2026-06-15
   days on market $207,500 Active 32 DOM
6. 2026-06-13
   days on market $207,500 Active 30 DOM
7. 2026-06-09
   days on market $207,500 Active 26 DOM
8. 2026-06-07
   days on market $207,500 Active 24 DOM
9. 2026-06-04
   days on market $207,500 Active 21 DOM
10. 2026-06-03
    days on market $207,500 Active 20 DOM
11. 2026-06-02
    days on market $207,500 Active 19 DOM
12. 2026-06-01
    days on market $207,500 Active 18 DOM
13. 2026-05-31
    days on market $207,500 Active 17 DOM
14. 2026-05-14
    listed $207,500 Active 561-char remark
15. 1999-09-03
    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: $2,799 · $233/mo
• Projected year-2 tax: $3,797 · $316/mo
• Expected delta: +$998/yr (+$83/mo · 35.7%)

ⓘ 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 1/10 Low
• 🌡 Heat 10/10 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: $25,554
• − Mortgage interest: −$11,623
• − Property taxes: −$2,799
• − Insurance: −$1,038
• − Repairs & maintenance: −$2,044
• − Management: −$2,044
• − Depreciation: −$6,036
• Taxable loss: −$30
• Est. tax savings @ 24.0%: +$7
• After-tax cash flow: $3,301/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

2 events — show timeline

• 2026-05-14 Listed $207,500 HARMLS
• 1999-09-03 Sold (Public Records) — Public Records

Property tax history

+7.4%/yr

Latest (2025): $2,799 · +1.5% YoY. Source: county tax records.