9010 Bayou Spring Ct

Sienna, TX 77459

$605,000D

4 bd · 3.0 ba · 3,188 sqft · Built 2023 · SingleFamily · Pending · 123 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,392/mo
• Mortgage (P&I): −$3,173
• Tax + insurance: −$1,871
• HOA: −$132
• Vac / Maint / Mgmt: −$1,132
• Net cashflow: $-916/mo
• Annual: $-10,991/yr
• Cap rate: 4.48%
• Cash-on-cash: -6.49%
• DSCR: 0.71
• 1% rule: 0.89%
• Cash to close: $169,400

Investor read

• This is a 4-bed/3.0-bath single-family listed at $605k.
• At list price, monthly cash flow is $-916 ($-11k/yr) — negative.
• To cash-flow at today's rent, offer at most $443k (26.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $539k (10.9% below list).
• It's been on market 123 days — a 12% lower offer ($532k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $443k (26.7% below list) — sets the bar for cash-flow.
• Local home prices are declining (-1.7%/yr); year-one equity from $4k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Fort Bend ISD (suburban): math 44% / reading 53% proficiency, ranked #140 of 826 in TX (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Heritage Rose El (math 29% / reading 28%, grade F, #2,706 of 4,322 statewide, top 63%, 1,209 students, 83% FRL); Billy Baines Middle (math 47% / reading 53%, grade C, #347 of 1,662 statewide, top 21%, 1,296 students, 37% FRL); Ridge Point H S (math 61% / reading 69%, grade B, #198 of 1,632 statewide, top 12%, 3,170 students, 31% FRL) — zoned schools average 50% FRL vs 35% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: property tax is 3.2% of price.
• Market conditions: Rents soft (-0.1%/yr); 1229 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 12,093 units permitted in Fort Bend County in 2024 (815 in 5+ unit buildings).
• Fort Bend County population projected at +75% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts; this cycle's ask has dropped $45k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 4.5% vs local median 3.3% in Sienna — 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.
• At $5,392/mo this rent would consume 50% of the median local household income ($129k/yr) (locally 1004% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• 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?
• It's been on market 123 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.