116 Solana Point Dr · Katy, TX 77493

$305,000

4 bd · 2.0 ba · 1,870 sqft · SingleFamily public records · 31 Days on market

Built 2022 Good condition 6,368 sqft lot $163/sqft · 18% below area Est $370k · 18% under $113/mo HOA · 4% of rent ↓ 13% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +6.9/30.0
• Schools +5.7/10.0
• 1% rule +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +2.3/5.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Fall in love with this beautiful 4-bedroom home featuring premium upgrades. The open-concept floor plan has luxury finishes throughout, including brand-new LV plank floors, a stucco exterior, and four-sided brick. Fully equipped with KitchenAid and Whirlpool appliances, whole-house water filtration/softener, ceiling fans, blinds, gutters, and a full sprinkler system, this home is truly better-than-new. Enjoy monthly savings with the included solar panels. The primary suite features dual vanities and a walk-in closet, while the secondary bedrooms offer flexibility for families, guests, or a home office. This lot is in a prime location in the community, no back neighbors, and 1/2 mile from Cr

Key facts

• Whirlpool appliances
• Stucco exterior
• Four-sided brick

Tags

• OPEN-CONCEPT FLOOR PLAN
• STUCCO EXTERIOR
• FOUR-SIDED BRICK
• KITCHENAID APPLIANCES
• WHIRLPOOL APPLIANCES
• WHOLE-HOUSE WATER FILTRATION

Property features AI

Finance

• HOA & community: Association: GrandManor; Annual association fee; Community amenities include clubhouse, fitness center, playground, dog park, park, trails, pool, pickleball, beach access/rights

Exterior

• Parking: Attached 2-car garage
• Security: Prewired for security; Security system owned
• Utilities: Public water; Public sewer
• Home design: Residential property; Faces north; Built in 2022; Slab foundation
• Construction: Brick and stucco exterior; Composition roof; Built in 2022
• Exterior features: Covered patio; Deck; Patio; Private yard; Fence (back yard); Sprinkler/irrigation; Tennis court(s); Association pool

Interior

• Kitchen: Dishwasher; Electric oven; Gas cooktop; Garbage disposal; Microwave; Refrigerator
• Bedrooms: Primary bedroom (First floor) — 16x14; Bedroom (First floor) — 12x11; Bedroom (First floor) — 12x12; Bedroom (First floor) — 11x10
• Flooring: Plank flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central electric air conditioning; Has heating; Has cooling
• Interior features: Breakfast bar; Double vanity; Kitchen island; Kitchen/family room combo; Pantry; Soaking tub; Separate shower; Window treatments; Ceiling fans; Kitchen/dining combo; Reverse osmosis system; Low emissivity windows; Window coverings; Water softener (owned); Tankless water heater
• Laundry & utility: Washer; Dryer; Washer hookup; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $305k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-455 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $229k (24.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $296k (2.9% below list).
• Recommended offer: $229k (24.8% below list) — sets the bar for cash-flow.
• Cap rate 4.5% vs local median 3.0% in Katy — 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 76/100 on livability (#111 in TX, #3,613 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: crime C-, amenities D, commute 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.
• Zoned schools: Katy El (math 63% / reading 61%, grade B, #321 of 4,322 statewide, top 8%, 682 students, 26% FRL); Katy J H (math 52% / reading 51%, grade C, #318 of 1,662 statewide, top 20%, 1,094 students, 53% FRL); Katy H S (math 62% / reading 74%, grade B, #150 of 1,632 statewide, top 10%, 3,330 students, 38% FRL).
• Market conditions: Rents soft (-0.8%/yr); 2729 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 483 units permitted in Waller County in 2024 (89 in 5+ unit buildings).
• This rent runs 30% of the median local income ($118k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Waller County population projected at +62% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($296k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 6→18/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $229,375 (24.8% 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 31 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.97% ✗
• Cap rate: 4.50%
• Cash-on-cash: -6.40%
• DSCR: 0.72
• GRM: 8.6

CMA / ARV

• ARV (median comp): $370,288
• List price: $305,000
• Delta: -11.15%
• 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
409 Aurora Creek Ln	0.26mi	4/2.5	1,915 (+2%)	15mo	$340,400	$178	70
109 Sea Glass Cv	0.21mi	3/2.5 (-1)	1,977 (+6%)	7mo	$319,000	$161	68
408 Long Beach Bay Dr	0.28mi	3/2.5 (-1)	1,988 (+6%)	5mo	$300,000	$151	65
155 Solana Point Dr	0.14mi	3/2.0 (-1)	2,017 (+8%)	13mo	$355,000	$176	65
104 Solana Point Dr	0.03mi	4/3.0	2,136 (+14%)	7mo	$309,990	$145	65
27119 Angel Creek Ln	0.40mi	3/2.5 (-1)	1,866 (-0%)	15mo	$351,165	$188	62
562 Long Beach Bay	0.45mi	4/3.0	1,948 (+4%)	14mo	$334,900	$172	57
437 Aurora Creek Ln	0.30mi	3/2.0 (-1)	1,717 (-8%)	13mo	$288,000	$168	57
2476 Fairway Harbor Dr	0.70mi	3/2.0 (-1)	1,850 (-1%)	6mo	$358,885	$194	55
800 Stella Vista Ct	0.37mi	3/2.0 (-1)	1,999 (+7%)	13mo	$399,000	$200	55
2408 Seamist Cove Ln	0.69mi	3/2.0 (-1)	1,850 (-1%)	12mo	$389,332	$210	51
479 Long Beach Bay Dr	0.40mi	3/2.0 (-1)	1,592 (-15%)	6mo	$299,000	$188	47

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: -31.9%
• Equity multiple: -0.01×
• Total profit: $-86,638
• Equity at exit: $45,476

10-year hold

• IRR: -68.6%
• Equity multiple: -0.69×
• Total profit: $-144,435
• Equity at exit: $26,371

Cash invested: $85,400 (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: 2729
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,962 high
• Mortgage (P&I): −$1,599
• Tax from tax record: −$956 /mo · $11,469/yr
• Insurance: −$127
• HOA: −$113
• Vacancy / Maint / Mgmt: −$622
• Net cashflow: $-455

Break-even live

Break-even rent $3,538

Max offer price $229,375

Occupancy floor —

Sensitivity live

Price	-10% $-283	-5% $-369	+0% $-455	+5% $-542	+10% $-628
Rent	-10% $-689	-5% $-572	+0% $-455	+5% $-338	+10% $-221
Rate	-1.0pp $-302	-0.5pp $-378	base $-455	+0.5pp $-534	+1.0pp $-615

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: $76,250
• Closing costs: $9,150
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28625 Clay Rd Katy, TX	4.0	2.0	1872	$2,000	$1.07	45d	1	0.72mi
1495 Twilight Green Dr Katy, TX	3.0	2.5	2000	$2,400	$1.20	45d	1	0.96mi
27035 Beacon Glen Dr Katy, TX	2.0–4.0	2.0–3.0	1890	$3,949	$2.09	0d	17	0.97mi
2654 Aruba Bend Dr Katy, TX	3.0–5.0	2.0–3.0	1958	$3,015	$1.54	0d	50	1.02mi
2845 Shimmer Edge Dr Katy, TX	3.0	3.0	2362	$2,400	$1.02	7d	1	1.15mi
3004 Fall Gold Ln Katy, TX	5.0	3.0	2156	$3,850	$1.79	45d	1	1.35mi
3004 Fall Gold Ln Katy, TX	5.0	3.0	2156	$2,599	$1.21	0d	1	1.35mi

HOA detail

• Monthly dues: $113 · $1,356/yr
• Likely covers: waterpool

Listing history 17 events

1. 2026-06-21
   days on market $305,000 Active 31 DOM
2. 2026-06-18
   days on market $305,000 Active 28 DOM
3. 2026-06-17
   days on market $305,000 Active 27 DOM
4. 2026-06-16
   days on market $305,000 Active 26 DOM
5. 2026-06-15
   days on market $305,000 Active 25 DOM
6. 2026-06-13
   days on market $305,000 Active 23 DOM
7. 2026-06-09
   days on market $305,000 Active 19 DOM
8. 2026-06-08
   days on market $305,000 Active 18 DOM
9. 2026-06-07
   days on market $305,000 Active 17 DOM
10. 2026-06-04
    days on market $305,000 Active 14 DOM
11. 2026-06-03
    days on market $305,000 Active 13 DOM
12. 2026-06-02
    days on market $305,000 Active 12 DOM
13. 2026-06-01
    days on market $305,000 Active 11 DOM
14. 2026-05-31
    days on market $305,000 Active 10 DOM
15. 2026-05-14
    price $305,000 997-char remark
16. 2026-04-27
    price $329,000 997-char remark
17. 2026-01-30
    listed $350,000 Active 997-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: $11,469 · $956/mo
• Projected year-2 tax: $11,469 · $956/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 90% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 6 d/yr ≥111°F today · 18 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $35,543
• − Mortgage interest: −$17,085
• − Property taxes: −$11,469
• − Insurance: −$1,525
• − Repairs & maintenance: −$2,843
• − Management: −$2,843
• − HOA: −$1,356
• − Depreciation: −$8,873
• Taxable loss: −$10,451
• Est. tax savings @ 24.0%: +$2,508
• After-tax cash flow: $-2,956/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

Good 80/100 Cosmetic rehab

This beautiful 4-bedroom home features premium upgrades and is in excellent condition, ready for immediate occupancy.

Value-add opportunities

• Both Landscaping and patio area — Enhances curb appeal and outdoor living space.
• Both Smart home integration — Improves convenience and energy efficiency.
• Both Smart security system — Enhances safety and peace of mind for potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping and patio area — Enhances curb appeal and outdoor living space. ↑
• Both Smart home integration — Improves convenience and energy efficiency. ↑
• Both Smart security system — Enhances safety and peace of mind for potential buyers/renters. ↑

ⓘ 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 — Katy

• Score: 76/100
• State rank: #111
• US rank: #3613

Category grades

Amenities D Commute F Cost of living A+ Crime C- Employment A+ Housing A+ Health & safety C User ratings A-

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 (Waller County) Hauer SSP2

• Today (2025): 60,772 people
• By 2030: 67,616 · +11.3%
• By 2040: 82,283 · +35.4%
• By 2050: 98,276 · +61.7%
• By 2075: 142,860 · +135.1%
• By 2100: 175,596 · +188.9%

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 · Waller

• 2024 margin: Strong R (+25.0) · D 37.0% · R 62.0% · Other 1.0%
• 2008→2024 swing: -17.9pp toward R · 2008: -7.2pp · 2024: -25.0pp
• All cycles: 2024: R+25.0 2020: R+26.7 2016: R+28.6 2012: R+17.6 2008: R+7.2

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

-12.9% since first listed

5 events — show timeline

• 2026-05-21 Listed $305,000 HARMLS
• 2026-05-20 Listing Removed — HARMLS
• 2026-05-14 Price Changed $305,000 HARMLS
• 2026-04-27 Price Changed $329,000 HARMLS
• 2026-01-30 Listed $350,000 HARMLS

Property tax history

+97.6%/yr

Latest (2025): $11,469 · -0.6% YoY. Source: county tax records.