26815 Feather Reed Dr · Houston, TX 77493

$249,990

4 bd · 2.0 ba · 1,660 sqft · SingleFamily public records · 73 Days on market

Built 2024 Excellent condition 4,891 sqft lot $151/sqft · 14% below area Est $292k · 14% under $183/mo HOA · 7% of rent ↓ 2% since listing

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Why this score? — see what drove the C- 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 +13.9/15.0
• Cash flow +13.2/30.0
• Schools +5.7/10.0
• 1% rule +5.2/10.0
• Condition / age +4.8/5.0
• DSCR +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this stunning almost brand-new home, ready for its new occupants! This beautifully designed 4-bedroom, 2-bath residence offers a modern open-concept layout, ideal for comfortable everyday living and entertaining. The kitchen is fully equipped with all appliances included—refrigerator, washer, and dryer—providing a true move-in-ready experience. HOA includes high-speed internet and front yard lawn maintenance, making daily living effortless. The home also features a sprinkler system to maintain lush landscaping year-round. Ideally located in a growing community within Katy Independent School District, with access to new junior high and high schools. Conveniently situated near shopping, dining, and major roadways, this home offers the perfect combination of comfort, convenience, and modern living. Don’t miss this opportunity!

Key facts

• High-speed internet
• Sprinkler system
• 4,891 sq ft lot

Tags

• MODERN OPEN-CONCEPT LAYOUT
• FULLY EQUIPPED KITCHEN
• HIGH-SPEED INTERNET
• FRONT YARD LAWN MAINTENANCE
• SPRINKLER SYSTEM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $250k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-4 ($-52/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (0.3% below list).
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $235k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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: schools D, crime F.
• Katy ISD (suburban): math 61% / reading 63% proficiency, ranked #29 of 826 in TX (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.8%/yr); 2728 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $8k 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 73 days — a 6% lower offer ($235k) is reasonable based on typical stale-listing flexibility.

Recommended offer $234,990 (6.0% 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 73 days. Have you received any prior offers? Is the seller open to a 6% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.02% ✓
• Cap rate: 6.27%
• Cash-on-cash: -0.07%
• DSCR: 1.00
• GRM: 8.2

CMA / ARV

• ARV (median comp): $291,569
• List price: $249,990
• Delta: -14.26%
• 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
26707 Scarlet Willow Dr	0.42mi	4/2.0	1,720 (+4%)	1mo	$322,990	$188	74
26843 Vanilla Pearls Ln	0.56mi	4/2.0	1,656 (-0%)	0mo	$254,240	$154	73
6431 Green Pedal Ln	0.33mi	3/2.0 (-1)	1,600 (-4%)	1mo	$271,090	$169	73
26811 Scarlet Willow Dr	0.44mi	4/2.0	1,720 (+4%)	1mo	$270,590	$157	72
6666 Iron Clover Dr	0.66mi	4/2.0	1,655 (-0%)	1mo	$283,590	$171	68
6671 Iron Clover Dr	0.63mi	3/2.5 (-1)	1,635 (-2%)	0mo	$265,000	$162	61
6427 Green Pedal Ln	0.33mi	3/2.0 (-1)	1,880 (+13%)	1mo	$308,990	$164	57
6670 Iron Clover Dr	0.66mi	3/2.0 (-1)	1,572 (-5%)	1mo	$264,990	$169	55
26110 Sea Rosemary Ln	0.75mi	3/2.0 (-1)	1,572 (-5%)	1mo	$262,740	$167	51
26827 Cascade Sunrise St	0.51mi	3/2.0 (-1)	1,461 (-12%)	1mo	$286,990	$196	50
26847 Vanilla Pearls Ln	0.56mi	3/2.0 (-1)	1,461 (-12%)	0mo	$240,890	$165	49
6147 Sunburst Scarlet St	0.54mi	3/2.0 (-1)	1,451 (-13%)	1mo	$241,040	$166	48

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: -20.3%
• Equity multiple: 0.31×
• Total profit: $-48,035
• Equity at exit: $37,274

10-year hold

• IRR: -24.0%
• Equity multiple: -0.00×
• Total profit: $-70,158
• Equity at exit: $21,615

Cash invested: $69,997 (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 77493

• Rents YoY: -0.8%
• Active inventory: 2728
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,548 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$419 /mo · $5,026/yr
• Insurance: −$104
• HOA: −$183
• Vacancy / Maint / Mgmt: −$535
• Net cashflow: $-4

Break-even live

Break-even rent $2,553

Max offer price $249,226

Occupancy floor 95%

Sensitivity live

Price	-10% $137	-5% $66	+0% $-4	+5% $-75	+10% $-146
Rent	-10% $-206	-5% $-105	+0% $-4	+5% $96	+10% $197
Rate	-1.0pp $122	-0.5pp $59	base $-4	+0.5pp $-69	+1.0pp $-135

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: $62,498
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26811 Prairie Smoke Ln Katy, TX	4.0	2.0	1656	$2,250	$1.36	45d	1	0.16mi
26642 Prairie Smoke Ln Katy, TX	3.0	2.0	1949	$2,300	$1.18	45d	1	0.29mi
26802 Cenzontle Dr Katy, TX	3.0	2.0	1470	$1,850	$1.26	45d	1	0.60mi
6758 Sunset Velvet Dr Katy, TX	3.0	2.0	1580	$2,350	$1.49	45d	1	0.66mi
6303 Marigold Blaze Dr Katy, TX	3.0	2.0	1474	$2,250	$1.53	45d	1	0.67mi
7402 Clover Chase Dr Katy, TX	4.0	3.0	1840	$2,400	$1.30	45d	1	0.70mi
27022 Euphonia Green Ln Katy, TX	3.0	2.0	1186	$1,939	$1.63	4d	1	0.88mi
3084 Fantasy Terrace Dr Katy, TX	4.0	2.0	2085	$2,325	$1.12	14d	1	1.06mi
3081 Fantasy Terrace Dr Katy, TX	4.0	2.0	1670	$2,275	$1.36	25d	1	1.07mi
27327 Blue Pool Dr Katy, TX	4.0	3.0	2100	$2,600	$1.24	45d	1	1.11mi
3053 Fantasy Terrace Dr Katy, TX	4.0	2.0	2085	$2,440	$1.17	16d	1	1.12mi
3064 Dawn Sound Dr Katy, TX	3.0	2.0	1464	$1,950	$1.33	45d	1	1.15mi
5631 Pearl Vista Dr Katy, TX	4.0	3.0	2039	$3,000	$1.47	22d	1	1.20mi
3076 Dylan Skyland Dr Katy, TX	4.0	2.5	2240	$3,395	$1.52	25d	1	1.21mi
3104 Nori Shores Dr Katy, TX	5.0	2.5	1947	$3,695	$1.90	5d	1	1.23mi
3056 Sea Turtle Dr Katy, TX	4.0	2.0	1500	$2,200	$1.47	45d	1	1.37mi
27064 Beach Ball Dr Katy, TX	3.0–4.0	2.5–3.5	1705	$2,957	$1.73	0d	25	1.39mi

HOA detail

• Monthly dues: $183 · $2,196/yr
• Likely covers: internetlandscaping

Listing history 17 events

1. 2026-06-21
   days on market $249,990 Pending 73 DOM
2. 2026-06-18
   days on market $249,990 Pending 70 DOM
3. 2026-06-17
   days on market $249,990 Pending 69 DOM
4. 2026-06-16
   days on market $249,990 Pending 68 DOM
5. 2026-06-15
   days on market $249,990 Pending 67 DOM
6. 2026-06-13
   statusdays on market $249,990 Pending 65 DOM
7. 2026-06-09
   days on market $249,990 Active 61 DOM
8. 2026-06-08
   days on market $249,990 Active 60 DOM
9. 2026-06-07
   days on market $249,990 Active 59 DOM
10. 2026-06-04
    days on market $249,990 Active 56 DOM
11. 2026-06-03
    days on market $249,990 Active 55 DOM
12. 2026-06-02
    days on market $249,990 Active 54 DOM
13. 2026-06-01
    days on market $249,990 Active 53 DOM
14. 2026-05-31
    days on market $249,990 Active 52 DOM
15. 2026-05-18
    price $249,990 870-char remark

    Show marketing remark (870 chars)

    Welcome to this stunning almost brand-new home, ready for its new occupants! This beautifully designed 4-bedroom, 2-bath residence offers a modern open-concept layout, ideal for comfortable everyday living and entertaining. The kitchen is fully equipped with all appliances included—refrigerator, washer, and dryer—providing a true move-in-ready experience. HOA includes high-speed internet and front yard lawn maintenance, making daily living effortless. The home also features a sprinkler system to maintain lush landscaping year-round. Ideally located in a growing community within Katy Independent School District, with access to new junior high and high schools. Conveniently situated near shopping, dining, and major roadways, this home offers the perfect combination of comfort, convenience, and modern living. Don’t miss this opportunity!

16. 2026-04-09
    listed $254,990 Active 870-char remark

    Show marketing remark (870 chars)

    Welcome to this stunning almost brand-new home, ready for its new occupants! This beautifully designed 4-bedroom, 2-bath residence offers a modern open-concept layout, ideal for comfortable everyday living and entertaining. The kitchen is fully equipped with all appliances included—refrigerator, washer, and dryer—providing a true move-in-ready experience. HOA includes high-speed internet and front yard lawn maintenance, making daily living effortless. The home also features a sprinkler system to maintain lush landscaping year-round. Ideally located in a growing community within Katy Independent School District, with access to new junior high and high schools. Conveniently situated near shopping, dining, and major roadways, this home offers the perfect combination of comfort, convenience, and modern living. Don’t miss this opportunity!

17. 2025-01-24
    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: $5,026 · $419/mo
• Projected year-2 tax: $5,026 · $419/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Taxation est. · year 1

• Rental income: $30,572
• − Mortgage interest: −$14,003
• − Property taxes: −$5,026
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,446
• − Management: −$2,446
• − HOA: −$2,196
• − Depreciation: −$7,272
• Taxable loss: −$4,067
• Est. tax savings @ 24.0%: +$976
• After-tax cash flow: $924/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 · 12 photos

Excellent 95/100 None rehab

This nearly brand-new home is move-in ready with modern finishes and a great location. Minor updates could further enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can increase both resale and rental value.
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more modern and convenient.
• Resale Upgrading the kitchen backsplash — A new backsplash can add visual interest and value to the kitchen.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can increase both resale and rental value. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more modern and convenient. ↑
• Resale Upgrading the kitchen backsplash — A new backsplash can add visual interest and value to the kitchen. ↑

ⓘ 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: Katy ISD
• NCES district ID: 4825170
• Math proficiency: 61% ▼ -7.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $90,312
• Composite: 56.59/100
• National rank: #1146
• State rank: #29 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): 71,484
• Household income: $118,464
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 913.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 36% Hispanic / Latino 33% Two or more races 16% Black 15% Asian 12%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 21% · Canada, Vietnam, Jamaica
• Languages at home: 64% English-only · Spanish 22% Vietnamese 5% French/Haitian/Cajun 4%

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: ▼ -140.65%
• Current HPI: 233.1683
• Rent YoY: ▼ -0.80%
• 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

-2.0% since first listed

3 events — show timeline

• 2026-05-18 Price Changed $249,990 HARMLS
• 2026-04-09 Listed $254,990 HARMLS
• 2025-01-24 Sold (Public Records) — Public Records

Property tax history

+1035.2%/yr

Latest (2025): $5,026 · +1035.2% YoY. Source: county tax records.