202 S Magnolia St · Highlands, TX 77562

$172,000

3 bd · 1.0 ba · 1,618 sqft · SingleFamily public records · 88 Days on market

Built 1955 10,001 sqft lot $106/sqft · 11% below area Est $193k · 11% under

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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 +27.3/30.0
• ARV discount +12.3/15.0
• DSCR +9.5/10.0
• 1% rule +7.7/10.0
• 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

Nice quiet area close to the water. Priced to move. 3 bedroom home on a nice lot.

Key facts

• 0.23 acre lot
• Built 1955
• Listed 88 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $172k.

Deal economics

• At list price, monthly cash flow is $497 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $172k).
• Recommended offer: $162k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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+, schools D-.
• 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.
• 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 $1k of loan paydown is wiped out by about $5k 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 $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($162k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 9197% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $161,680 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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. 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: 1.27% ✓
• Cap rate: 9.76%
• Cash-on-cash: 12.38%
• DSCR: 1.55
• GRM: 6.6

CMA / ARV

• ARV (median comp): $192,543
• List price: $172,000
• Delta: -10.67%
• 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
206 Avenue C	0.04mi	3/2.0	1,668 (+3%)	10mo	$85,000	$51	80
110 Kerry Rd	0.25mi	3/1.0	1,636 (+1%)	8mo	$125,000	$76	80
402 E Oak St	0.44mi	3/2.0	1,590 (-2%)	17mo	$235,000	$148	59
316 N Magnolia St	0.39mi	3/2.0	1,748 (+8%)	7mo	$430,000	$246	58
310 Hackberry Dr	0.50mi	3/2.0	1,644 (+2%)	15mo	$219,000	$133	57
327 Enfield Dr	0.65mi	3/2.0	1,569 (-3%)	6mo	$205,000	$131	56
306 Hackberry Dr	0.52mi	3/2.0	1,564 (-3%)	14mo	$249,900	$160	55
309 W Wallisville Rd	0.31mi	3/2.0	1,456 (-10%)	14mo	$189,900	$130	53
327 Brompton Ct	0.70mi	3/2.0	1,494 (-8%)	4mo	$180,000	$120	48
331 Enfield Dr	0.66mi	3/2.0	1,494 (-8%)	9mo	$210,000	$141	45
414 Enfield Dr	0.68mi	3/3.0	1,494 (-8%)	11mo	$240,000	$161	39
311 Brompton Ct	0.67mi	3/2.0	1,421 (-12%)	12mo	$205,000	$144	34

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $3,824
• Equity at exit: $25,646

10-year hold

• IRR: 11.7%
• Equity multiple: 1.92×
• Total profit: $44,291
• Equity at exit: $14,871

Cash invested: $48,160 (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: 6.6×

Monthly cashflow live

• Estimated rent: $2,177 medium
• Mortgage (P&I): −$902
• Tax from tax record: −$249 /mo · $2,988/yr
• Insurance: −$72
• HOA: −$0
• Vacancy / Maint / Mgmt: −$457
• Net cashflow: $497

Break-even live

Break-even rent $1,548

Max offer price $172,000

Occupancy floor 72%

Sensitivity live

Price	-10% $594	-5% $545	+0% $497	+5% $448	+10% $399
Rent	-10% $325	-5% $411	+0% $497	+5% $583	+10% $669
Rate	-1.0pp $583	-0.5pp $541	base $497	+0.5pp $452	+1.0pp $407

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: $43,000
• Closing costs: $5,160
• 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	44d	1	1.05mi
305 Riverside St Highlands, TX	3.0	2.0	1404	$2,600	$1.85	3d	1	1.14mi

Listing history 26 events

1. 2026-06-18
   days on market $172,000 Active 88 DOM
2. 2026-06-17
   days on market $172,000 Active 87 DOM
3. 2026-06-16
   days on market $172,000 Active 86 DOM
4. 2026-06-15
   days on market $172,000 Active 85 DOM
5. 2026-06-13
   days on market $172,000 Active 83 DOM
6. 2026-06-09
   days on market $172,000 Active 79 DOM
7. 2026-06-07
   days on market $172,000 Active 77 DOM
8. 2026-06-04
   days on market $172,000 Active 74 DOM
9. 2026-06-03
   days on market $172,000 Active 73 DOM
10. 2026-06-02
    days on market $172,000 Active 72 DOM
11. 2026-06-01
    days on market $172,000 Active 71 DOM
12. 2026-05-31
    days on market $172,000 Active 70 DOM
13. 2026-05-09
    price $1,550
14. 2026-05-08
    price $172,000 81-char remark

    Show marketing remark (81 chars)

    Nice quiet area close to the water. Priced to move. 3 bedroom home on a nice lot.

15. 2026-04-26
    price $1,600
16. 2026-04-24
    price $179,000 81-char remark

    Show marketing remark (81 chars)

    Nice quiet area close to the water. Priced to move. 3 bedroom home on a nice lot.

17. 2026-04-09
    price $1,650
18. 2026-03-23
    listed $1,850
19. 2026-03-21
    listed $185,000 Active 81-char remark

    Show marketing remark (81 chars)

    Nice quiet area close to the water. Priced to move. 3 bedroom home on a nice lot.

20. 2026-03-17
    soldstatus
21. 2025-11-01
    historical
22. 2025-09-16
    price $115,000
23. 2025-08-28
    listed $120,000 Active
24. 2023-05-04
    soldstatus
25. 2023-02-01
    soldstatus
26. 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: $2,988 · $249/mo
• Projected year-2 tax: $3,148 · $262/mo
• Expected delta: +$159/yr (+$13/mo · 5.3%)

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

Taxation est. · year 1

• Rental income: $26,119
• − Mortgage interest: −$9,635
• − Property taxes: −$2,988
• − Insurance: −$860
• − Repairs & maintenance: −$2,089
• − Management: −$2,089
• − Depreciation: −$5,004
• Taxable income: $3,453
• Est. tax owed @ 24.0%: −$829
• After-tax cash flow: $5,133/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

-98.7% since first listed

14 events — show timeline

• 2026-05-09 Price Changed $1,550 HARMLS
• 2026-05-08 Price Changed $172,000 HARMLS
• 2026-04-26 Price Changed $1,600 HARMLS
• 2026-04-24 Price Changed $179,000 HARMLS
• 2026-04-09 Price Changed $1,650 HARMLS
• 2026-03-23 Listed for Rent $1,850 HARMLS
• 2026-03-21 Listed $185,000 HARMLS
• 2026-03-17 Sold (Public Records) — Public Records
• 2025-11-01 Listing Removed — HARMLS
• 2025-09-16 Price Changed $115,000 HARMLS
• 2025-08-28 Listed $120,000 HARMLS
• 2023-05-04 Sold (Public Records) — Public Records
• 2023-02-01 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+10.5%/yr

Latest (2025): $2,988 · +1.5% YoY. Source: county tax records.