20119 Forest Dr · Houston, TX 77388

$375,000

4 bd · 3.5 ba · 3,046 sqft · SingleFamily public records · 51 Days on market

Built 1994 9,029 sqft lot $123/sqft · 7% below area Est $405k · 7% under $63/mo HOA · 2% of rent

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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).

• ARV discount +10.8/15.0
• Cash flow +10.4/30.0
• 1% rule +4.3/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely traditional home featuring a spacious open-concept design, 4 bedrooms, 3.5 baths, 3 car garage & a private backyard that back to a wooded green space! Home has never flooded! Two story entry with sweeping staircase opens to the formal living & dining rooms - both have hardwood flooring & high ceilings. The family room features a fireplace, built-ins, soaring ceilings & a wall of windows overlooking the backyard. Large kitchen with abundant cabinet space. The owners suite is on the 1st floor & has a cozy fireplace, hardwood flooring, corner jetted tub, oversized shower & dual vanities. Upstairs you will find the gameroom & guest bedrooms. Covered patio in the backyard. Don't miss this one!

Key facts

• Private backyard
• Custom built-ins
• Cozy fireplace

Tags

• PRIVATE BACKYARD
• SERENE WOODED GREENBELT
• DRAMATIC TWO-STORY ENTRY
• FORMAL LIVING AND DINING AREAS
• COZY FIREPLACE
• CUSTOM BUILT-INS

Property features AI

Finance

• HOA & community: Cypresswood Glen homeowners association; Annual association fee of $750

Exterior

• Parking: Detached garage; 3-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 1994; Slab foundation
• Construction: Brick construction; Composition roof
• Exterior features: Located in a subdivision

Interior

• Kitchen: Kitchen with island; Pantry; Pots & pan drawers
• Bedrooms: Primary bedroom on first floor (approx. 21 x 21); Bedroom on second floor (approx. 13 x 10); Bedroom on second floor (approx. 12 x 13); Bedroom on second floor (approx. 17 x 14)
• Flooring: Carpet; Marble; Tile; Travertine; Wood
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Double vanity; Jetted tub; Soaking tub; Separate shower; Kitchen island; Pots & pan drawers; Pantry; Gas and wood-burning fireplaces (2 total; includes gas log)

What this means for you Summary

Snapshot

• This is a 4-bed/3.5-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $-196 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $340k (9.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $349k (6.9% below list).
• Recommended offer: $340k (9.2% below list) — sets the bar for cash-flow.
• Cap rate 5.7% 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.
• Klein ISD (suburban): math 41% / reading 48% proficiency, ranked #213 of 826 in TX (top 26%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Schindewolf Int (math 31% / reading 43%, grade F, #756 of 1,662 statewide, top 47%, 1,152 students, 55% FRL); Klein Collins H S (math 40% / reading 55%, grade D, #583 of 1,632 statewide, top 36%, 3,422 students, 45% FRL).
• Market conditions: Rents soft (-1.1%/yr); 329 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 41% of the median local income ($102k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 51 days — a 3% lower offer ($364k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $25k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $198k; list at $375k implies a 90% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $340,315 (9.2% 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 51 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
8. 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.
9. 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.
10. 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: 0.93% ✗
• Cap rate: 5.66%
• Cash-on-cash: -2.24%
• DSCR: 0.90
• GRM: 9.0

CMA / ARV

• ARV (median comp): $404,570
• List price: $375,000
• Delta: -7.31%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20403 Sagecombe Ct	0.25mi	4/3.5	3,017 (-1%)	3mo	$439,900	$146	84
3711 Sapling Trail Ct	0.24mi	4/3.5	3,064 (+1%)	6mo	$389,900	$127	83
3335 Woods Edge Dr	0.48mi	4/3.5	3,097 (+2%)	2mo	$489,000	$158	74
3707 Sapling Trail Ct	0.24mi	4/3.0	2,757 (-10%)	0mo	$499,000	$181	71
19503 Country Village Dr	0.43mi	5/3.5 (+1)	3,212 (+5%)	0mo	$480,000	$149	65
20614 Cypresswood Meadows Dr	0.44mi	4/3.5	2,830 (-7%)	4mo	$399,000	$141	64
3406 Stone Ivory Ct	0.42mi	4/3.5	2,732 (-10%)	3mo	$359,000	$131	61
3302 Candlelon Dr	0.70mi	4/2.5	3,014 (-1%)	5mo	$324,900	$108	58
3422 Aldergrove Dr	0.59mi	4/3.5	3,376 (+11%)	3mo	$370,000	$110	52
19642 Crystal Ivy Ln	0.71mi	4/3.5	2,778 (-9%)	3mo	$419,900	$151	50
18823 Cypress Mountain Dr	0.58mi	4/2.5	2,705 (-11%)	3mo	$425,000	$157	48
19502 Lakeside View Dr	0.57mi	4/3.5	3,465 (+14%)	6mo	$497,000	$143	46

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: -23.9%
• Equity multiple: 0.21×
• Total profit: $-83,223
• Equity at exit: $55,914

10-year hold

• IRR: -32.9%
• Equity multiple: -0.21×
• Total profit: $-126,976
• Equity at exit: $32,423

Cash invested: $105,000 (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 77388

• Home prices YoY: -34.8%
• Rents YoY: -1.1%
• Active inventory: 329
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $3,490 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$767 /mo · $9,207/yr
• Insurance: −$156
• HOA: −$63
• Vacancy / Maint / Mgmt: −$733
• Net cashflow: $-196

Break-even live

Break-even rent $3,738

Max offer price $340,315

Occupancy floor —

Sensitivity live

Price	-10% $16	-5% $-90	+0% $-196	+5% $-302	+10% $-409
Rent	-10% $-472	-5% $-334	+0% $-196	+5% $-59	+10% $79
Rate	-1.0pp $-7	-0.5pp $-101	base $-196	+0.5pp $-294	+1.0pp $-392

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3714 Cedar Glen Ln Spring, TX	4.0	4.5	3205	$4,500	$1.40	45d	1	0.08mi
3906 Postwood Dr Spring, TX	4.0	2.5	2211	$2,045	$0.92	9d	1	0.74mi
18631 Minden Oaks Dr Spring, TX	4.0	3.5	3487	$2,936	$0.84	14d	1	0.77mi
18620 Louetta Creek Dr Spring, TX	3.0–4.0	2.5–3.0	1930	$2,499	$1.29	14d	3	0.88mi
18011 Tall Cypress Dr Spring, TX	4.0	2.5	2824	$3,120	$1.10	9d	1	1.22mi
4827 Cypressdale Dr Spring, TX	5.0	2.0	2244	$2,300	$1.02	25d	1	1.28mi
20019 Venetto ST Spring, TX	3.0	3.0	2325	$2,690	$1.16	45d	1	1.36mi

HOA detail

• Monthly dues: $63 · $756/yr

Listing history 23 events

1. 2026-06-21
   days on market $375,000 Active 51 DOM
2. 2026-06-18
   days on market $375,000 Active 48 DOM
3. 2026-06-17
   days on market $375,000 Active 47 DOM
4. 2026-06-16
   days on market $375,000 Active 46 DOM
5. 2026-06-15
   days on market $375,000 Active 45 DOM
6. 2026-06-13
   pricedays on market $375,000 Active 43 DOM
7. 2026-06-09
   days on market $400,000 Active 39 DOM
8. 2026-06-08
   days on market $400,000 Active 38 DOM
9. 2026-06-07
   days on market $400,000 Active 37 DOM
10. 2026-06-04
    days on market $400,000 Active 34 DOM
11. 2026-06-03
    days on market $400,000 Active 33 DOM
12. 2026-06-02
    days on market $400,000 Active 32 DOM
13. 2026-06-01
    days on market $400,000 Active 31 DOM
14. 2026-05-31
    days on market $400,000 Active 30 DOM
15. 2026-05-01
    listed $400,000 Active 962-char remark
16. 2026-02-24
    soldstatus
17. 2021-07-20
    soldstatus
18. 2021-07-15
    soldstatus Sold 732-char remark

    Show marketing remark (732 chars)

    Lovely traditional home featuring a spacious open-concept design, 4 bedrooms, 3.5 baths, 3 car garage & a private backyard that back to a wooded green space! Home has never flooded! Two story entry with sweeping staircase opens to the formal living & dining rooms - both have hardwood flooring & high ceilings. The family room features a fireplace, built-ins, soaring ceilings & a wall of windows overlooking the backyard. Large kitchen with abundant cabinet space. The owners suite is on the 1st floor & has a cozy fireplace, hardwood flooring, corner jetted tub, oversized shower & dual vanities. Upstairs you will find the gameroom & guest bedrooms. Covered patio in the backyard. Don't miss this one!

19. 2021-06-15
    status Pending 732-char remark

    Show marketing remark (732 chars)

    Lovely traditional home featuring a spacious open-concept design, 4 bedrooms, 3.5 baths, 3 car garage & a private backyard that back to a wooded green space! Home has never flooded! Two story entry with sweeping staircase opens to the formal living & dining rooms - both have hardwood flooring & high ceilings. The family room features a fireplace, built-ins, soaring ceilings & a wall of windows overlooking the backyard. Large kitchen with abundant cabinet space. The owners suite is on the 1st floor & has a cozy fireplace, hardwood flooring, corner jetted tub, oversized shower & dual vanities. Upstairs you will find the gameroom & guest bedrooms. Covered patio in the backyard. Don't miss this one!

20. 2021-06-04
    status Option Pending 732-char remark

    Show marketing remark (732 chars)

    Lovely traditional home featuring a spacious open-concept design, 4 bedrooms, 3.5 baths, 3 car garage & a private backyard that back to a wooded green space! Home has never flooded! Two story entry with sweeping staircase opens to the formal living & dining rooms - both have hardwood flooring & high ceilings. The family room features a fireplace, built-ins, soaring ceilings & a wall of windows overlooking the backyard. Large kitchen with abundant cabinet space. The owners suite is on the 1st floor & has a cozy fireplace, hardwood flooring, corner jetted tub, oversized shower & dual vanities. Upstairs you will find the gameroom & guest bedrooms. Covered patio in the backyard. Don't miss this one!

21. 2021-05-27
    listed $335,000 Active 732-char remark

    Show marketing remark (732 chars)

    Lovely traditional home featuring a spacious open-concept design, 4 bedrooms, 3.5 baths, 3 car garage & a private backyard that back to a wooded green space! Home has never flooded! Two story entry with sweeping staircase opens to the formal living & dining rooms - both have hardwood flooring & high ceilings. The family room features a fireplace, built-ins, soaring ceilings & a wall of windows overlooking the backyard. Large kitchen with abundant cabinet space. The owners suite is on the 1st floor & has a cozy fireplace, hardwood flooring, corner jetted tub, oversized shower & dual vanities. Upstairs you will find the gameroom & guest bedrooms. Covered patio in the backyard. Don't miss this one!

22. 2000-06-27
    soldstatus
23. 2000-06-01
    soldstatus $197,500

ⓘ 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: $9,207 · $767/mo
• Projected year-2 tax: $9,207 · $767/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 4/10 Moderate FEMA zone X (shaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $41,874
• − Mortgage interest: −$21,006
• − Property taxes: −$9,207
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,350
• − Management: −$3,350
• − HOA: −$756
• − Depreciation: −$10,909
• Taxable loss: −$8,579
• Est. tax savings @ 24.0%: +$2,059
• After-tax cash flow: $-297/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: Klein ISD
• NCES district ID: 4825740
• Math proficiency: 41% ▼ -12.00%
• Reading proficiency: 48% ▼ -3.00%
• Median HH income: $78,288
• Composite: 40.91/100
• National rank: #3615
• State rank: #213 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): 53,425
• Household income: $102,323
• Rent vs Own: 32.8% rent · 67.2% own
• Severe rent burden: 1419.0

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 0.70)
• Race & ethnicity: White 45% Hispanic / Latino 25% Black 18% Two or more races 12% Asian 8%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 2% Lithuanian 2% Romanian 1%
• Foreign-born: 15% · Canada, Vietnam, China
• Languages at home: 74% English-only · Spanish 18% Other Indo-European 2% Other Asian/Pacific 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: ▼ -121.68%
• Current HPI: 228.128
• Rent YoY: ▼ -1.08%
• 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

+89.9% since first listed

10 events — show timeline

• 2026-06-10 Price Changed $375,000 HARMLS
• 2026-05-01 Listed $400,000 HARMLS
• 2026-02-24 Sold (Public Records) — Public Records
• 2021-07-20 Sold (Public Records) — Public Records
• 2021-07-15 Sold (MLS) — HARMLS
• 2021-06-15 Pending — HARMLS
• 2021-06-04 Pending — HARMLS
• 2021-05-27 Listed $335,000 HARMLS
• 2000-06-27 Sold (Public Records) — Public Records
• 2000-06-01 Sold (Public Records) $197,500 Public Records

Property tax history

+2.4%/yr

Latest (2025): $9,207 · +5.6% YoY. Source: county tax records.