Storybrooke Plan · Houston, TX 77493

$309,990

3 bd · 2.0 ba · 1,474 sqft · SingleFamily · 34 Days on market

Good condition

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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).

• Cash flow +8.0/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• 1% rule +2.4/10.0
• Rent growth +2.3/5.0
• DSCR +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Courtyard Collection | 2 Story | 2 Bedrooms | 2 Baths | Flex Room | 2-Car Attached Garage * * Photos are representative, selections & features may vary with community * *

Key facts

• 2 parking spots
• Listed 34 days

Property features AI

Finance

• Financial info: List price $309,990

Exterior

• Parking: 2 parking spaces
• Home design: Single-family plan home; Located in Katy, TX (77493)
• Exterior features: Living area approximately 1,474

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan home (Storybrooke)

🏗️ New construction. The $309,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $332,978.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $310k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-344 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $283k (8.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $248k (20.1% below list).
• Recommended offer: $248k (20.1% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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); 2696 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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

• It's been on market 34 days — a 3% lower offer ($301k) is reasonable based on typical stale-listing flexibility.

Recommended offer $247,714 (20.1% 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. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 20% concession, seller financing, or rate buy-down credit?
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: 0.74% ✗
• Cap rate: 5.05%
• Cash-on-cash: -4.43%
• DSCR: 0.80
• GRM: 11.2

CMA / ARV

• ARV (median comp): $332,978
• List price: $309,990
• Delta: -6.90%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7719 Meadow Mouse Ln	0.09mi	3/2.0	1,474 (0%)	8mo	$326,990	$222	90
7623 Green Bulrush Way	0.11mi	3/2.0	1,474 (0%)	13mo	$319,900	$217	84
7739 Swooping Swallow Ln	0.05mi	2/2.0 (-1)	1,474 (0%)	21mo	$329,000	$223	75
23843 Oriole Valley Trl	0.21mi	3/2.0	1,503 (+2%)	22mo	$320,000	$213	68
23811 Cedar Glade Ln	0.55mi	3/2.0	1,567 (+6%)	14mo	$295,000	$188	52
24227 Tallgrass Meadow Trl	0.63mi	3/2.0	1,618 (+10%)	6mo	$317,000	$196	49
24231 Tallgrass Meadow Trl	0.63mi	3/2.0	1,681 (+14%)	14mo	$324,900	$193	36

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: -27.2%
• Equity multiple: 0.11×
• Total profit: $-83,101
• Equity at exit: $49,648

10-year hold

• IRR: -40.5%
• Equity multiple: -0.38×
• Total profit: $-128,494
• Equity at exit: $28,790

Cash invested: $93,234 (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: 2696
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $2,477 medium
• Mortgage (P&I): −$1,746
• Tax est. 1.5%: −$416 /mo · $4,995/yr
• Insurance: −$139
• HOA: −$0
• Vacancy / Maint / Mgmt: −$520
• Net cashflow: $-344

Break-even live

Break-even rent $2,913

Max offer price $283,172

Occupancy floor —

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: $83,245
• Closing costs: $9,989
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24114 Blooming Daisy Cir Katy, TX	4.0	3.0	1500	$3,300	$2.20	43d	1	0.11mi

Listing history 13 events

1. 2026-06-18
   days on market $309,990 Active 34 DOM
2. 2026-06-17
   days on market $309,990 Active 33 DOM
3. 2026-06-16
   days on market $309,990 Active 32 DOM
4. 2026-06-15
   days on market $309,990 Active 31 DOM
5. 2026-06-09
   days on market $309,990 Active 25 DOM
6. 2026-06-08
   days on market $309,990 Active 24 DOM
7. 2026-06-07
   days on market $309,990 Active 23 DOM
8. 2026-06-04
   days on market $309,990 Active 20 DOM
9. 2026-06-03
   days on market $309,990 Active 19 DOM
10. 2026-06-02
    days on market $309,990 Active 18 DOM
11. 2026-06-01
    days on market $309,990 Active 17 DOM
12. 2026-05-31
    days on market $309,990 Active 16 DOM
13. 2026-05-15
    listed $309,990 Active 178-char remark

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

Taxation est. · year 1

• Rental income: $29,726
• − Mortgage interest: −$18,652
• − Property taxes: −$4,995
• − Insurance: −$1,665
• − Repairs & maintenance: −$2,378
• − Management: −$2,378
• − Depreciation: −$9,687
• Taxable loss: −$10,029
• Est. tax savings @ 24.0%: +$2,407
• After-tax cash flow: $-1,724/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 · 5 photos

Good 80/100 None rehab

This home is in good condition with a modern kitchen and well-maintained exterior. It has potential for further value increases through minor cosmetic upgrades and landscaping improvements.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value.
• Both Adding smart home features — Smart home features can increase property value and attract tech-savvy buyers/tenants.
• Both Upgrading the kitchen appliances — Modern appliances can improve the kitchen's functionality and appeal to potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value. ↑
• Both Adding smart home features — Smart home features can increase property value and attract tech-savvy buyers/tenants. ↑
• Both Upgrading the kitchen appliances — Modern appliances can improve the kitchen's functionality and appeal to potential buyers/tenants. ↑

ⓘ 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