22722 Primrose Wind Ln · Houston, TX 77447

$241,990

3 bd · 2.0 ba · 1,434 sqft · SingleFamily · 3 Days on market

Built 2026 Excellent condition 5,000 sqft lot $33/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).

• Cash flow +11.4/30.0
• ARV discount +7.5/15.0
• Condition / age +5.0/5.0
• Livability +3.7/5.0
• 1% rule +3.5/10.0
• DSCR +3.3/10.0
• Schools +2.9/10.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks

AMAZING BRAND NEW D. R. HORTON HOME IN SUNSET VALLEY! WONDERFUL COMMUNITY IN EXCELLENT LOCATION! PRIVATE CORNER HOMESITE WITH NO BACK NEIGHBORS! Charming one story with gourmet island kitchen! Includes quartz counter tops, quality cabinets, stainless steel appliances and an open concept floorplan with the kitchen flowing seamlessly into the dining room and living room! The main bedroom has an attractive ensuite bathroom that features a quartz vanity countertop! Enjoy additional storage with a spacious walk-in closet located off of the primary bathroom. Spacious secondary bedrooms! Features HOME IS CONNECTED program! Using one central hub that talks to all the devices in your home, you can

Key facts

• Quality cabinets
• Quartz counter tops
• Ensuite bathroom

Tags

• GOURMET ISLAND KITCHEN
• QUARTZ COUNTER TOPS
• QUALITY CABINETS
• STAINLESS STEEL APPLIANCES
• OPEN CONCEPT FLOORPLAN
• ENSUITE BATHROOM

Property features AI

Finance

• Other: Property is not available for lease consideration
• HOA & community: Community managed by Inframark; Annual HOA fee of $400

Exterior

• Parking: Attached 2-car garage
• Security: Prewired for security; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; New construction (2026); South-facing
• Construction: Built in 2026; Cement siding; Composition roof; Slab foundation; Built by D.R. Horton
• Exterior features: Fenced backyard; Sprinkler/irrigation system; Front porch; Private yard; Corner lot in a subdivision; Porch

Interior

• Kitchen: Dishwasher; Garbage disposal; Gas oven; Gas range; Microwave; Quartz counters; Kitchen island; Breakfast bar; Pantry
• Bedrooms: 3 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Plank flooring; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central air (electric); HVAC included; Programmable thermostat
• Interior features: Breakfast bar; High ceilings; Kitchen island; Kitchen/family room combo; Pantry; Quartz countertops; Kitchen/dining combo; Living/dining room; Programmable thermostat; Low emissivity windows; Ventilation for improved indoor air quality
• Laundry & utility: Washer hookup; Electric dryer hookup; Tankless water heater

🏗️ New construction. The $241,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $255,252.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $242k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-88 ($-1k/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 $216k (10.6% below list).
• Recommended offer: $216k (10.6% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: Evelyn Turlington El (math 46% / reading 45%, grade D-, #1,112 of 4,322 statewide, top 26%, 1,084 students, 69% FRL); Schultz J H (math 31% / reading 37%, grade F, #892 of 1,662 statewide, top 55%, 1,120 students, 65% FRL); Waller H S (math 25% / reading 40%, grade F, #1,029 of 1,632 statewide, top 64%, 2,639 students, 62% FRL).
• Market conditions: Rents soft (-1.6%/yr); 1791 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 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 $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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→20/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $216,306 (10.6% 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: 0.85% ✗
• Cap rate: 5.88%
• Cash-on-cash: -1.48%
• DSCR: 0.93
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $255,252
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22719 Primrose Wind Ln	0.02mi	3/2.5	1,470 (+2%)	1mo	$257,990	$176	92
18718 Sunset Horizon Dr	0.19mi	3/2.0	1,434 (0%)	2mo	$254,990	$178	90
18611 Hawthorn Stem Dr	0.22mi	3/2.5	1,470 (+2%)	3mo	$256,990	$175	81
18602 Sunset Horizon Dr	0.26mi	3/2.5	1,470 (+2%)	4mo	$255,990	$174	78
18635 Hawthorn Stem Dr	0.21mi	3/2.0	1,280 (-11%)	1mo	$246,990	$193	72
18923 Sunset Horizon Dr	0.08mi	4/2.0 (+1)	1,573 (+10%)	4mo	$262,990	$167	72
22710 Ravine Edge Ct	0.18mi	3/2.0	1,280 (-11%)	3mo	$239,990	$187	71
18723 Sunset Horizon Dr	0.17mi	3/2.0	1,280 (-11%)	3mo	$236,990	$185	71
18903 Sunset Horizon Dr	0.11mi	4/2.0 (+1)	1,573 (+10%)	3mo	$259,990	$165	71
18615 Hawthorn Stem Dr	0.22mi	4/2.0 (+1)	1,573 (+10%)	2mo	$263,990	$168	67
22855 Magnolia Haven Dr	0.71mi	3/2.0	1,377 (-4%)	4mo	$244,995	$178	57
22862 Magnolia Haven Dr	0.74mi	3/2.0	1,242 (-13%)	4mo	$234,995	$189	40

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: -22.2%
• Equity multiple: 0.25×
• Total profit: $-53,264
• Equity at exit: $38,059

10-year hold

• IRR: -26.4%
• Equity multiple: -0.09×
• Total profit: $-77,895
• Equity at exit: $22,070

Cash invested: $71,471 (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: 1791
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,163 medium
• Mortgage (P&I): −$1,339
• Tax est. 1.5%: −$319 /mo · $3,829/yr
• Insurance: −$106
• HOA: −$33
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $-88

Break-even live

Break-even rent $2,275

Max offer price $242,493

Occupancy floor 99%

Sensitivity live

Price	-10% $88	-5% $0	+0% $-88	+5% $-176	+10% $-265
Rent	-10% $-259	-5% $-174	+0% $-88	+5% $-3	+10% $83
Rate	-1.0pp $40	-0.5pp $-23	base $-88	+0.5pp $-154	+1.0pp $-222

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: $63,813
• Closing costs: $7,658
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20313 Evergreen Cypress Dr Hockley, TX	2.0–5.0	2.0–3.5	2051	$2,353	$1.15	0d	1	1.27mi
18435 Summit Ranch Dr Hockley, TX	3.0	2.0	1230	$1,796	$1.46	24d	1	1.30mi
18927 Jasper Ridge Dr Hockley, TX	4.0	2.5	1851	$1,895	$1.02	24d	1	1.46mi

HOA detail

• Monthly dues: $33 · $396/yr

Listing history 3 events

1. 2026-06-21
   days on market $241,990 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   listed $241,990 Active 1 DOM

ⓘ 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 · 20 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,957
• − Mortgage interest: −$14,298
• − Property taxes: −$3,829
• − Insurance: −$1,276
• − Repairs & maintenance: −$2,077
• − Management: −$2,077
• − HOA: −$396
• − Depreciation: −$7,426
• Taxable loss: −$5,421
• Est. tax savings @ 24.0%: +$1,301
• After-tax cash flow: $243/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 · 6 photos

Excellent 100/100 None rehab

This brand new D.R. Horton home in Sunset Valley is in excellent condition with modern finishes and a well-maintained exterior. It offers a high ROI with minimal needed improvements.

Value-add opportunities

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental.
• Both Painting exterior trim — Fresh paint can improve the home's appearance and value.
• Both Add smart home features — Integrating smart home technology can increase both resale and rental value by making the home more modern and convenient.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping improvements — Enhances curb appeal and adds value for both resale and rental. ↑
• Both Painting exterior trim — Fresh paint can improve the home's appearance and value. ↑
• Both Add smart home features — Integrating smart home technology can increase both resale and rental value by making the home more modern and convenient. ↑

ⓘ 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

1 event — show timeline

• 2026-06-18 Listed $241,990 HARMLS