22014 Vernazza Bend Dr · Houston, TX 77447

$300,000

5 bd · 2.5 ba · 2,252 sqft · SingleFamily · 1 Days on market

Built 2026 Good condition 6,060 sqft lot $135/mo HOA · 5% of rent ↓ 12% since listing

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Why this score? — see what drove the F 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 +8.8/30.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Schools +2.9/10.0
• DSCR +2.4/10.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Callahan floor plan showcases a spacious and versatile two-story layout with 2,252 square feet of thoughtfully designed living space. Featuring 5 bedrooms, 2.5 bathrooms, and a 2-car garage, this home is ideal for families seeking comfort, functionality, and style. The open-concept main floor seamlessly connects the kitchen, dining, and family room, creating the perfect space for entertaining and everyday living. The modern kitchen includes ample cabinetry, generous counter space, and a large center island overlooking the family area, making it a central gathering point for meals and conversation. The owner's suite, located on the first floor for added privacy, features a spacious walk-in closet and an ensuite bath with dual sinks and a walk-in shower. Upstairs, four additional bedrooms and a full bathroom offer plenty of space for family members or guests. The second floor also includes a versatile loft area that can be used as a playroom, media space, or home office. With thoughtful storage solutions, a convenient laundry room, and modern design details throughout, the Callahan plan perfectly combines open living with private comfort - offering a well-balanced home designed to meet the needs of today's busy households.

Key facts

• Community with pool
• Walk-in closet
• Covered patio

Tags

• GOURMET ISLAND KITCHEN
• OVERSIZED SHOWER
• WALK-IN CLOSET
• COVERED PATIO
• SPRINKLER SYSTEM
• COMMUNITY WITH POOL

Property features AI

Other

• Other features: New construction; Ventilation for improved indoor air quality; Energy-efficient features including radiant attic barrier, HVAC insulation, efficient lighting, programmable thermostat, efficient water heater, and energy-efficient windows; Municipal Utility District disclosure

Finance

• HOA & community: Has homeowners association (Real Manage Onsite Elevated); Annual association fee; Community pool

Exterior

• Parking: Attached 2-car garage with garage door opener
• Security: Prewired for security; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; New construction by D.R. Horton (2026); Slab foundation; Composition roof
• Construction: Brick and cement siding construction; Built in 2026
• Exterior features: Fenced backyard; Private yard; Sprinkler / irrigation system; Subdivision setting

Interior

• Kitchen: Dishwasher; Disposal; Gas oven; Gas range; Microwave; Kitchen island; Breakfast bar; Quartz counters; Pantry
• Bedrooms: Primary bedroom on the first floor (approx. 15x14); Four additional bedrooms on the second floor (approx. 12x10, 10x10, 10x10, 10x10)
• Flooring: Carpet; Plank; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (gas); Central air conditioning (electric); Programmable thermostat
• Interior features: Breakfast bar; Kitchen island; Kitchen and family room combo; Kitchen and dining combo; Pantry; Quartz counters; Programmable thermostat; High ceilings; Bath in primary bedroom; Low emissivity windows
• Laundry & utility: Washer hookup; Electric dryer hookup; Tankless water heater

Utilities

• Heating & Cooling: Central gas heating; Central electric cooling
• Utility Information: Public water; Public sewer

🏗️ New construction. The $300,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $343,479.

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $300k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-283 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $282k (6.1% below list).
• Recommended offer: $282k (6.1% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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: crime 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.
• Zoned schools: Waller H S (math 25% / reading 40%, grade F, #1,029 of 1,632 statewide, top 64%, 2,639 students, 62% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: Rents soft (-1.6%/yr); 1790 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $2k of loan paydown is wiped out by about $10k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $38k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $281,775 (6.1% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
6. 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?
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: 0.82% ✗
• Cap rate: 5.31%
• Cash-on-cash: -3.53%
• DSCR: 0.84
• GRM: 10.2

CMA / ARV

• ARV (median comp): $343,479
• List price: $300,000
• Delta: -12.66%
• 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
22034 Vernazza Bend Dr	0.05mi	4/3.0 (-1)	2,173 (-4%)	3mo	$367,740	$169	83
22002 Corsica View Dr	0.17mi	4/2.0 (-1)	2,081 (-8%)	1mo	$289,900	$139	71
21727 Piazza Maggiore Ln	0.37mi	4/2.5 (-1)	2,182 (-3%)	2mo	$315,740	$145	71
21711 Piazza Maggiore Ln	0.39mi	4/2.5 (-1)	2,331 (+4%)	1mo	$310,000	$133	70
19059 Cetara Villa Dr	0.39mi	4/2.5 (-1)	2,128 (-6%)	2mo	$314,990	$148	66
21707 Piazza Maggiore Ln	0.39mi	4/2.5 (-1)	2,042 (-9%)	1mo	$300,000	$147	61
21915 Vernazza Bnd	0.61mi	4/3.0 (-1)	2,294 (+2%)	2mo	$334,990	$146	60
21610 Nicosia Dr	0.64mi	4/3.0 (-1)	2,168 (-4%)	3mo	$329,990	$152	54
22123 Oceania Shores Dr	0.38mi	4/3.0 (-1)	2,586 (+15%)	1mo	$399,990	$155	50
21715 Paphos Dr	0.51mi	4/3.0 (-1)	2,496 (+11%)	3mo	$349,990	$140	49
20023 Venetian Waters Dr	0.69mi	4/2.5 (-1)	2,052 (-9%)	1mo	$289,990	$141	47
22206 Larkspir Gate Dr	0.64mi	4/3.0 (-1)	2,504 (+11%)	0mo	$444,900	$178	44

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: -25.8%
• Equity multiple: 0.15×
• Total profit: $-81,795
• Equity at exit: $51,214

10-year hold

• IRR: -37.2%
• Equity multiple: -0.31×
• Total profit: $-125,812
• Equity at exit: $29,698

Cash invested: $96,174 (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 77447

• Home prices YoY: -31.1%
• Rents YoY: -1.6%
• Active inventory: 1790
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,818 medium
• Mortgage (P&I): −$1,801
• Tax est. 1.5%: −$429 /mo · $5,152/yr
• Insurance: −$143
• HOA: −$135
• Vacancy / Maint / Mgmt: −$592
• Net cashflow: $-283

Break-even live

Break-even rent $3,176

Max offer price $302,574

Occupancy floor —

Sensitivity live

Price	-10% $-45	-5% $-164	+0% $-283	+5% $-401	+10% $-520
Rent	-10% $-505	-5% $-394	+0% $-283	+5% $-171	+10% $-60
Rate	-1.0pp $-110	-0.5pp $-195	base $-283	+0.5pp $-372	+1.0pp $-462

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: $85,870
• Closing costs: $10,304
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22222 Opa Glen Dr Hockley, TX	4.0	3.0	2609	$2,850	$1.09	44d	1	0.42mi
20313 Evergreen Cypress Dr Hockley, TX	2.0–5.0	2.0–3.5	2051	$3,070	$1.50	0d	1	1.20mi
22023 Lost Lantern Dr Hockley, TX	3.0–4.0	2.0	1601	$1,901	$1.19	0d	1	1.30mi
20718 Round Key Dr Hockley, TX	4.0	2.5	2133	$1,806	$0.85	0d	1	1.32mi

HOA detail

• Monthly dues: $135 · $1,620/yr

Listing history 18 events

1. 2026-06-21
   days on marketlisting id $300,000 Active 1 DOM
2. 2026-06-18
   days on market $300,000 Active 121 DOM
3. 2026-06-17
   days on market $300,000 Active 120 DOM
4. 2026-06-16
   days on market $300,000 Active 119 DOM
5. 2026-06-15
   days on market $300,000 Active 118 DOM
6. 2026-06-13
   days on market $300,000 Active 116 DOM
7. 2026-06-09
   days on market $300,000 Active 112 DOM
8. 2026-06-08
   days on market $300,000 Active 111 DOM
9. 2026-06-07
   days on market $300,000 Active 110 DOM
10. 2026-06-04
    days on market $300,000 Active 107 DOM
11. 2026-06-03
    days on market $300,000 Active 106 DOM
12. 2026-06-02
    days on market $300,000 Active 105 DOM
13. 2026-06-01
    days on market $300,000 Active 104 DOM
14. 2026-05-31
    days on market $300,000 Active 103 DOM
15. 2026-05-12
    price $300,000 1244-char remark

    Show marketing remark (1244 chars)

    The Callahan floor plan showcases a spacious and versatile two-story layout with 2,252 square feet of thoughtfully designed living space. Featuring 5 bedrooms, 2.5 bathrooms, and a 2-car garage, this home is ideal for families seeking comfort, functionality, and style. The open-concept main floor seamlessly connects the kitchen, dining, and family room, creating the perfect space for entertaining and everyday living. The modern kitchen includes ample cabinetry, generous counter space, and a large center island overlooking the family area, making it a central gathering point for meals and conversation. The owner's suite, located on the first floor for added privacy, features a spacious walk-in closet and an ensuite bath with dual sinks and a walk-in shower. Upstairs, four additional bedrooms and a full bathroom offer plenty of space for family members or guests. The second floor also includes a versatile loft area that can be used as a playroom, media space, or home office. With thoughtful storage solutions, a convenient laundry room, and modern design details throughout, the Callahan plan perfectly combines open living with private comfort - offering a well-balanced home designed to meet the needs of today's busy households.

16. 2026-05-07
    price $337,991 1244-char remark

    Show marketing remark (1244 chars)

    The Callahan floor plan showcases a spacious and versatile two-story layout with 2,252 square feet of thoughtfully designed living space. Featuring 5 bedrooms, 2.5 bathrooms, and a 2-car garage, this home is ideal for families seeking comfort, functionality, and style. The open-concept main floor seamlessly connects the kitchen, dining, and family room, creating the perfect space for entertaining and everyday living. The modern kitchen includes ample cabinetry, generous counter space, and a large center island overlooking the family area, making it a central gathering point for meals and conversation. The owner's suite, located on the first floor for added privacy, features a spacious walk-in closet and an ensuite bath with dual sinks and a walk-in shower. Upstairs, four additional bedrooms and a full bathroom offer plenty of space for family members or guests. The second floor also includes a versatile loft area that can be used as a playroom, media space, or home office. With thoughtful storage solutions, a convenient laundry room, and modern design details throughout, the Callahan plan perfectly combines open living with private comfort - offering a well-balanced home designed to meet the needs of today's busy households.

17. 2026-02-25
    price $337,990 1244-char remark

    Show marketing remark (1244 chars)

    The Callahan floor plan showcases a spacious and versatile two-story layout with 2,252 square feet of thoughtfully designed living space. Featuring 5 bedrooms, 2.5 bathrooms, and a 2-car garage, this home is ideal for families seeking comfort, functionality, and style. The open-concept main floor seamlessly connects the kitchen, dining, and family room, creating the perfect space for entertaining and everyday living. The modern kitchen includes ample cabinetry, generous counter space, and a large center island overlooking the family area, making it a central gathering point for meals and conversation. The owner's suite, located on the first floor for added privacy, features a spacious walk-in closet and an ensuite bath with dual sinks and a walk-in shower. Upstairs, four additional bedrooms and a full bathroom offer plenty of space for family members or guests. The second floor also includes a versatile loft area that can be used as a playroom, media space, or home office. With thoughtful storage solutions, a convenient laundry room, and modern design details throughout, the Callahan plan perfectly combines open living with private comfort - offering a well-balanced home designed to meet the needs of today's busy households.

18. 2026-02-17
    listed $338,990 Active 1244-char remark

    Show marketing remark (1244 chars)

    The Callahan floor plan showcases a spacious and versatile two-story layout with 2,252 square feet of thoughtfully designed living space. Featuring 5 bedrooms, 2.5 bathrooms, and a 2-car garage, this home is ideal for families seeking comfort, functionality, and style. The open-concept main floor seamlessly connects the kitchen, dining, and family room, creating the perfect space for entertaining and everyday living. The modern kitchen includes ample cabinetry, generous counter space, and a large center island overlooking the family area, making it a central gathering point for meals and conversation. The owner's suite, located on the first floor for added privacy, features a spacious walk-in closet and an ensuite bath with dual sinks and a walk-in shower. Upstairs, four additional bedrooms and a full bathroom offer plenty of space for family members or guests. The second floor also includes a versatile loft area that can be used as a playroom, media space, or home office. With thoughtful storage solutions, a convenient laundry room, and modern design details throughout, the Callahan plan perfectly combines open living with private comfort - offering a well-balanced home designed to meet the needs of today's busy households.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥112°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,813
• − Mortgage interest: −$19,240
• − Property taxes: −$5,152
• − Insurance: −$1,717
• − Repairs & maintenance: −$2,705
• − Management: −$2,705
• − HOA: −$1,620
• − Depreciation: −$9,992
• Taxable loss: −$9,319
• Est. tax savings @ 24.0%: +$2,237
• After-tax cash flow: $-1,156/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.

Condition & rehab AI · 1 photo

Good 80/100 Cosmetic rehab

This single-family home is in good condition with a modern floor plan and well-maintained exterior. It is ideal for families seeking comfort and style, with potential for minor cosmetic improvements to enhance its resale and rental value.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value.
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value.
• Resale New flooring in bathrooms — Improves the aesthetic and functionality of the bathrooms, which are often a selling point for buyers.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value. ↑
• Resale New flooring in bathrooms — Improves the aesthetic and functionality of the bathrooms, which are often a selling point for buyers. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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 — 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): 25,231
• Household income: $116,925
• Rent vs Own: 14.0% rent · 86.0% own
• Severe rent burden: 265.0

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 0.63)
• Race & ethnicity: White 44% Hispanic / Latino 41% Two or more races 16% Black 9% Asian 1%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Lithuanian 3% Slovak 1% Romanian 1%
• Foreign-born: 15% · Canada, Jamaica, Dominican Republic
• Languages at home: 69% English-only · Spanish 28% Other Indo-European 1% Vietnamese 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: ▼ -112.73%
• Current HPI: 249.6969
• Rent YoY: ▼ -1.58%
• 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

-11.5% since first listed

6 events — show timeline

• 2026-06-20 Price Changed $300,000 HARMLS
• 2026-06-20 Listed $337,991 HARMLS
• 2026-05-12 Price Changed $300,000 Zillow
• 2026-05-07 Price Changed $337,991 Zillow
• 2026-02-25 Price Changed $337,990 Zillow
• 2026-02-17 Listed $338,990 Zillow