6634 Sienna Sunrise Ln · Houston, TX 77493

$305,990

4 bd · 2.0 ba · 2,013 sqft · Land · 10 Days on market

Built 2026 $183/mo HOA · 7% of rent ↓ 4% since listing

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Why this score? — see what drove the F 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 +7.5/15.0
• Schools +5.7/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Cash flow +0.0/30.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

The Astoria Floor Plan - This new single-story home features two bedrooms and a full bathroom upon entry with a third bedroom tucked away to the side off the foyer. An open layout blends the kitchen, living and dining areas for simple transitions and everyday multitasking, and an adjacent patio provides year-round outdoor entertainment and leisure. A luxurious owner’s suite completes the home, complete with a spacious bedroom, spa-inspired bathroom and generous walk-in closet. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• Walk-in closet
• Open layout
• Adjacent patio

Tags

• OPEN LAYOUT
• ADJACENT PATIO
• OWNER'S SUITE
• SPA-INSPIRED BATHROOM
• WALK-IN CLOSET

Property features AI

Finance

• HOA & community: KRJ Management HOA; Annual association fee of $2,200

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Under construction (new construction); Single-story entry (first level rooms listed); Slab foundation
• Construction: Built by Lennar Homes; Brick construction; Composition roof; Year built 2026
• Exterior features: Fenced backyard; Subdivision lot

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Gas oven; Gas range
• Bedrooms: Primary bedroom (first level); Bedroom (first level) — 12 x 10; Bedroom (first level) — 11 x 10; Bedroom (first level) — 11 x 10
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric and gas); Central air conditioning (electric and gas)
• Interior features: Breakfast bar; Double vanity; Kitchen/family room combo; Separate shower; Tub/shower
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

🏗️ New construction. The $305,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $2,500,000.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $306k.

Deal economics

• At list price, monthly cash flow is $-15k ($-185k/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 $259k (15.3% below list).
• Recommended offer: $259k (15.3% below list) — sets the bar for 1% rule.
• Cap rate -1.1% vs local median 3.2% in Houston — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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; 13 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 77% 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 $17k of loan paydown is wiped out by about $75k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 12.3% of price.

Recommended offer $259,085 (15.3% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 0.10% ✗
• Cap rate: -1.11%
• Cash-on-cash: -26.42%
• DSCR: -0.18
• GRM: 80.4

CMA / ARV

• ARV (median comp): $2,500,000
• List price: $305,990
• Delta: -87.76%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -78.0%
• Equity multiple: -0.99×
• Total profit: $-1,394,221
• Equity at exit: $372,758

10-year hold

• IRR: —
• Equity multiple: -2.58×
• Total profit: $-2,506,851
• Equity at exit: $216,154

Cash invested: $700,000 (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 77493

• Rents YoY: -0.8%
• Active inventory: 2696
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,591 high
• Mortgage (P&I): −$13,110
• Tax est. 1.5%: −$3,125 /mo · $37,500/yr
• Insurance: −$1,042
• HOA: −$183
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $-15,413

Break-even live

Break-even rent $22,101

Max offer price $308,555

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: $625,000
• Closing costs: $75,000
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6758 Sunset Velvet Dr Katy, TX	3.0	2.0	1580	$2,350	$1.49	43d	1	0.18mi
26642 Prairie Smoke Ln Katy, TX	3.0	2.0	1949	$2,300	$1.18	43d	1	0.47mi
26811 Prairie Smoke Ln Katy, TX	4.0	2.0	1656	$2,250	$1.36	43d	1	0.63mi
5835 Big Bluestem Ln Katy, TX	5.0	3.0	2890	$2,406	$0.83	43d	1	0.87mi
26802 Cenzontle Dr Katy, TX	3.0	2.0	1470	$1,850	$1.26	43d	1	0.89mi
7410 Hillside Arbor Dr Katy, TX	4.0	2.0	2289	$2,400	$1.05	43d	1	0.95mi
6414 Orchid Beach Dr Katy, TX	5.0	4.0	2490	$3,000	$1.20	12d	1	0.98mi
7402 Clover Chase Dr Katy, TX	4.0	3.0	1840	$2,400	$1.30	43d	1	0.99mi
6303 Marigold Blaze Dr Katy, TX	3.0	2.0	1474	$2,250	$1.53	43d	1	1.19mi
6427 Seafoam Lake Dr Katy, TX	4.0	4.0	2479	$3,000	$1.21	1d	1	1.28mi
27507 Hudson Sands Ln Katy, TX	4.0	3.0	2294	$3,000	$1.31	16d	1	1.34mi
5819 Bright Keel Dr Katy, TX	4.0	3.0	2598	$2,400	$0.92	43d	1	1.44mi
27327 Blue Pool Dr Katy, TX	4.0	3.0	2100	$2,600	$1.24	43d	1	1.45mi

HOA detail

• Monthly dues: $183 · $2,196/yr

Listing history 3 events

1. 2026-05-14
   status Pending 643-char remark
2. 2026-05-07
   price $305,990 643-char remark
3. 2026-05-04
   listed $319,940 Active 643-char remark

ⓘ 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: $1,405 · $117/mo
• Projected year-2 tax: $5,600 · $467/mo
• Expected delta: +$4,194/yr (+$350/mo · 298.5%)

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

Taxation est. · year 1

• Rental income: $31,090
• − Mortgage interest: −$140,039
• − Property taxes: −$37,500
• − Insurance: −$12,500
• − Repairs & maintenance: −$2,487
• − Management: −$2,487
• − HOA: −$2,196
• − Depreciation: −$72,727
• Taxable loss: −$238,846
• Est. tax savings @ 24.0%: +$57,323
• After-tax cash flow: $-127,635/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: 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

-4.4% since first listed

4 events — show timeline

• 2026-06-09 Sold (MLS) — HARMLS
• 2026-05-14 Pending — HARMLS
• 2026-05-07 Price Changed $305,990 HARMLS
• 2026-05-04 Listed $319,940 HARMLS