1131 Diamond Drape Dr · Iowa Colony, TX 77583

$227,000

4 bd · 2.0 ba · 1,661 sqft · SingleFamily public records · 95 Days on market

Built 2018 6,499 sqft lot $137/sqft · 11% below area Est $255k · 11% under $75/mo HOA · 3% of rent

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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).

• Cash flow +15.7/30.0
• ARV discount +12.5/15.0
• 1% rule +6.6/10.0
• DSCR +4.8/10.0
• Schools +3.9/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The one-story Sabine plan from LGI Homes is absolute perfection. This thoughtfully designed 4-bedroom, 2-bath home features a split bedroom layout with a large, centrally positioned living room as well as a flex room that can be used as a study or children’s retreat. The chef of the family will appreciate the breakfast island, gorgeous granite countertops, and the bright and airy dining room that leads outdoors to a covered patio. Additionally, the Sabine boasts a sizeable master retreat showcasing a large garden bathtub, separate stand-up shower and an oversized walk-in closet. The Sabine comes standard with many designer upgrades, including energy efficient appliances, brushed nickel hardware throughout, and a fully fenced back yard.

Key facts

• 6,499 sq ft lot
• 2 garage spots
• Built 2018

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $227k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $227k).
• Recommended offer: $207k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 4.2% in Iowa Colony — 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 64/100 on livability (#757 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: schools F, amenities F, commute F.
• Alvin ISD (suburban): math 39% / reading 48% proficiency, ranked #255 of 826 in TX (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 1147 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 3,960 units permitted in Brazoria County in 2024 (593 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 $7k of value loss. Plan a longer hold.
• Brazoria County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y ago; this cycle's ask is 3% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,570 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
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. 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 F-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. 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: 1.16% ✓
• Cap rate: 6.82%
• Cash-on-cash: 1.90%
• DSCR: 1.08
• GRM: 7.2

CMA / ARV

• ARV (median comp): $255,255
• List price: $227,000
• Delta: -11.07%
• 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
1202 Paradise Found Dr	0.42mi	3/2.0 (-1)	1,581 (-5%)	1mo	$265,000	$168	67
9015 Rose Water Trl	0.47mi	3/2.0 (-1)	1,595 (-4%)	1mo	$309,490	$194	66
1511 Shimmering Ocean Way	0.52mi	3/2.0 (-1)	1,595 (-4%)	1mo	$299,990	$188	64
1222 Sandy Shore Ln	0.57mi	3/2.0 (-1)	1,595 (-4%)	2mo	$309,990	$194	60
9130 Sunset Marina Way	0.57mi	4/2.0	1,780 (+7%)	2mo	$334,990	$188	60
9118 Sunset Marina Way	0.57mi	3/2.0 (-1)	1,595 (-4%)	3mo	$309,490	$194	60
1402 Angelfish Dr	0.57mi	3/2.0 (-1)	1,595 (-4%)	3mo	$314,490	$197	60
9203 Waldrick Trace Dr	0.73mi	3/2.0 (-1)	1,634 (-2%)	1mo	$275,000	$168	58
9134 Sunset Marina Way	0.57mi	4/2.5	1,831 (+10%)	2mo	$311,990	$170	53
9011 Serene Hvn	0.46mi	3/2.0 (-1)	1,412 (-15%)	1mo	$288,490	$204	48
9115 Serene Hvn	0.45mi	3/2.0 (-1)	1,412 (-15%)	2mo	$296,490	$210	48
9150 Sunset Marina Way	0.57mi	3/2.5 (-1)	1,858 (+12%)	3mo	$314,990	$170	44

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 · 0.44% rent growth · sell at horizon

5-year hold

• IRR: -16.8%
• Equity multiple: 0.42×
• Total profit: $-36,720
• Equity at exit: $33,846

10-year hold

• IRR: -15.8%
• Equity multiple: 0.24×
• Total profit: $-48,405
• Equity at exit: $19,627

Cash invested: $63,560 (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 77583

• Rents YoY: 0.4%
• Active inventory: 1147
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,644 high
• Mortgage (P&I): −$1,190
• Tax from tax record: −$628 /mo · $7,538/yr
• Insurance: −$95
• HOA: −$75
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $101

Break-even live

Break-even rent $2,517

Max offer price $227,000

Occupancy floor 91%

Sensitivity live

Price	-10% $229	-5% $165	+0% $101	+5% $36	+10% $-28
Rent	-10% $-108	-5% $-4	+0% $101	+5% $205	+10% $309
Rate	-1.0pp $215	-0.5pp $158	base $101	+0.5pp $42	+1.0pp $-18

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: $56,750
• Closing costs: $6,810
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1123 Diamond Drape Dr Rosharon, TX	4.0	2.0	1844	$2,000	$1.08	14d	1	0.03mi
9423 Grand Spark Dr Rosharon, TX	3.0	3.0	1999	$2,600	$1.30	45d	1	0.38mi
1014 Star Grass Ln Rosharon, TX	4.0	2.0	2067	$2,375	$1.15	45d	1	0.65mi
10313 Malta Trace Dr Rosharon, TX	4.0	2.0	1802	$2,545	$1.41	45d	1	1.02mi
10502 Moon Valley Ln Rosharon, TX	3.0	2.0	1615	$2,725	$1.69	0d	1	1.05mi
10507 Moon Valley Ln Rosharon, TX	3.0	2.0	1548	$2,650	$1.71	0d	1	1.06mi
9518 Peridot Green Dr Rosharon, TX	4.0	2.0	1593	$1,886	$1.18	23d	1	1.08mi
10610 Cascade Creek Dr Rosharon, TX	3.0	2.0	1548	$2,700	$1.74	45d	1	1.08mi
1816 Corsica Creek Ln Rosharon, TX	3.0–4.0	2.0–2.5	1653	$2,669	$1.61	0d	20	1.10mi
10622 Cascade Creek Dr Rosharon, TX	4.0	2.0	1780	$2,775	$1.56	45d	1	1.10mi
1119 Toledo Bend Pass Rosharon, TX	5.0	3.0	2200	$2,500	$1.14	45d	1	1.10mi
10630 Cascade Creek Dr Rosharon, TX	3.0	2.5	1940	$2,875	$1.48	4d	1	1.13mi
10538 Wildflower View Dr Rosharon, TX	3.0	2.0	1522	$2,775	$1.82	0d	1	1.14mi
10602 Wildflower View Dr Rosharon, TX	4.0	2.0	1596	$2,850	$1.79	21d	1	1.16mi
1234 Scarlet Creek Dr Rosharon, TX	3.0	2.0	1548	$2,650	$1.71	0d	1	1.19mi
10714 Cliffs View Dr Iowa Colony, TX	4.0	3.5	2070	$2,700	$1.30	45d	1	1.27mi
1403 Cascade Hills Dr Rosharon, TX	4.0	3.0	2067	$3,450	$1.67	8d	1	1.29mi
8310 Rose Petals Ln Rosharon, TX	4.0	2.0	1833	$2,300	$1.25	45d	1	1.29mi
8219 House Dr Rosharon, TX	3.0	2.0	1263	$1,970	$1.56	23d	1	1.29mi
10211 Alpine Lake Ln Rosharon, TX	3.0–4.0	2.0–2.5	1731	$3,025	$1.75	0d	6	1.30mi
10211 Alpine Lake Ln Rosharon, TX	3.0–4.0	2.0–2.5	1731	$2,875	$1.66	45d	7	1.30mi
8102 Buck Ln Rosharon, TX	3.0	2.0	1409	$2,100	$1.49	45d	1	1.41mi
2510 Green Jasper Dr Rosharon, TX	3.0	2.0	1561	$2,375	$1.52	45d	1	1.44mi

HOA detail

• Monthly dues: $75 · $900/yr

Listing history 27 events

1. 2026-06-21
   days on market $227,000 Active 95 DOM
2. 2026-06-18
   days on market $227,000 Active 92 DOM
3. 2026-06-17
   days on market $227,000 Active 91 DOM
4. 2026-06-16
   days on market $227,000 Active 90 DOM
5. 2026-06-15
   days on market $227,000 Active 89 DOM
6. 2026-06-13
   days on market $227,000 Active 87 DOM
7. 2026-06-13
   days on market $227,000 Active 86 DOM
8. 2026-06-09
   days on market $227,000 Active 83 DOM
9. 2026-06-08
   days on market $227,000 Active 82 DOM
10. 2026-06-07
    days on market $227,000 Active 81 DOM
11. 2026-06-04
    days on market $227,000 Active 78 DOM
12. 2026-06-03
    days on market $227,000 Active 77 DOM
13. 2026-06-02
    days on market $227,000 Active 76 DOM
14. 2026-06-01
    days on market $227,000 Active 75 DOM
15. 2026-05-31
    days on market $227,000 Active 74 DOM
16. 2026-04-22
    price $227,000
17. 2026-04-16
    status Active
18. 2026-03-28
    status Pending
19. 2026-03-19
    status Pending
20. 2026-02-26
    listed $220,000 Active
21. 2019-01-31
    soldstatus Sold 757-char remark

    Show marketing remark (757 chars)

    The one-story Sabine plan from LGI Homes is absolute perfection. This thoughtfully designed 4-bedroom, 2-bath home features a split bedroom layout with a large, centrally positioned living room as well as a flex room that can be used as a study or children’s retreat. The chef of the family will appreciate the breakfast island, gorgeous granite countertops, and the bright and airy dining room that leads outdoors to a covered patio. Additionally, the Sabine boasts a sizeable master retreat showcasing a large garden bathtub, separate stand-up shower and an oversized walk-in closet. The Sabine comes standard with many designer upgrades, including energy efficient appliances, brushed nickel hardware throughout, and a fully fenced back yard.

22. 2019-01-11
    status Pending 757-char remark

    Show marketing remark (757 chars)

    The one-story Sabine plan from LGI Homes is absolute perfection. This thoughtfully designed 4-bedroom, 2-bath home features a split bedroom layout with a large, centrally positioned living room as well as a flex room that can be used as a study or children’s retreat. The chef of the family will appreciate the breakfast island, gorgeous granite countertops, and the bright and airy dining room that leads outdoors to a covered patio. Additionally, the Sabine boasts a sizeable master retreat showcasing a large garden bathtub, separate stand-up shower and an oversized walk-in closet. The Sabine comes standard with many designer upgrades, including energy efficient appliances, brushed nickel hardware throughout, and a fully fenced back yard.

23. 2019-01-04
    price $201,900 757-char remark

    Show marketing remark (757 chars)

    The one-story Sabine plan from LGI Homes is absolute perfection. This thoughtfully designed 4-bedroom, 2-bath home features a split bedroom layout with a large, centrally positioned living room as well as a flex room that can be used as a study or children’s retreat. The chef of the family will appreciate the breakfast island, gorgeous granite countertops, and the bright and airy dining room that leads outdoors to a covered patio. Additionally, the Sabine boasts a sizeable master retreat showcasing a large garden bathtub, separate stand-up shower and an oversized walk-in closet. The Sabine comes standard with many designer upgrades, including energy efficient appliances, brushed nickel hardware throughout, and a fully fenced back yard.

24. 2018-10-04
    price $203,900 757-char remark

    Show marketing remark (757 chars)

    The one-story Sabine plan from LGI Homes is absolute perfection. This thoughtfully designed 4-bedroom, 2-bath home features a split bedroom layout with a large, centrally positioned living room as well as a flex room that can be used as a study or children’s retreat. The chef of the family will appreciate the breakfast island, gorgeous granite countertops, and the bright and airy dining room that leads outdoors to a covered patio. Additionally, the Sabine boasts a sizeable master retreat showcasing a large garden bathtub, separate stand-up shower and an oversized walk-in closet. The Sabine comes standard with many designer upgrades, including energy efficient appliances, brushed nickel hardware throughout, and a fully fenced back yard.

25. 2018-09-28
    status Active 757-char remark

    Show marketing remark (757 chars)

    The one-story Sabine plan from LGI Homes is absolute perfection. This thoughtfully designed 4-bedroom, 2-bath home features a split bedroom layout with a large, centrally positioned living room as well as a flex room that can be used as a study or children’s retreat. The chef of the family will appreciate the breakfast island, gorgeous granite countertops, and the bright and airy dining room that leads outdoors to a covered patio. Additionally, the Sabine boasts a sizeable master retreat showcasing a large garden bathtub, separate stand-up shower and an oversized walk-in closet. The Sabine comes standard with many designer upgrades, including energy efficient appliances, brushed nickel hardware throughout, and a fully fenced back yard.

26. 2018-09-24
    status Pending 757-char remark

    Show marketing remark (757 chars)

    The one-story Sabine plan from LGI Homes is absolute perfection. This thoughtfully designed 4-bedroom, 2-bath home features a split bedroom layout with a large, centrally positioned living room as well as a flex room that can be used as a study or children’s retreat. The chef of the family will appreciate the breakfast island, gorgeous granite countertops, and the bright and airy dining room that leads outdoors to a covered patio. Additionally, the Sabine boasts a sizeable master retreat showcasing a large garden bathtub, separate stand-up shower and an oversized walk-in closet. The Sabine comes standard with many designer upgrades, including energy efficient appliances, brushed nickel hardware throughout, and a fully fenced back yard.

27. 2018-07-27
    listed $206,900 Active 757-char remark

    Show marketing remark (757 chars)

    The one-story Sabine plan from LGI Homes is absolute perfection. This thoughtfully designed 4-bedroom, 2-bath home features a split bedroom layout with a large, centrally positioned living room as well as a flex room that can be used as a study or children’s retreat. The chef of the family will appreciate the breakfast island, gorgeous granite countertops, and the bright and airy dining room that leads outdoors to a covered patio. Additionally, the Sabine boasts a sizeable master retreat showcasing a large garden bathtub, separate stand-up shower and an oversized walk-in closet. The Sabine comes standard with many designer upgrades, including energy efficient appliances, brushed nickel hardware throughout, and a fully fenced back yard.

ⓘ 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: $7,538 · $628/mo
• Projected year-2 tax: $7,538 · $628/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 22 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,728
• − Mortgage interest: −$12,716
• − Property taxes: −$7,538
• − Insurance: −$1,135
• − Repairs & maintenance: −$2,538
• − Management: −$2,538
• − HOA: −$900
• − Depreciation: −$6,604
• Taxable loss: −$2,241
• Est. tax savings @ 24.0%: +$538
• After-tax cash flow: $1,745/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: Alvin ISD
• NCES district ID: 4808090
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 48% ▬ 0.00%
• Median HH income: $66,740
• Composite: 38.96/100
• National rank: #4080
• State rank: #255 of 826 in TX

Livability — Iowa Colony

• Score: 64/100
• State rank: #757
• US rank: #13904

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa Colony, TX
• County: Brazoria County · 374,982 people
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 52,747
• Household income: $119,287
• Rent vs Own: 9.8% rent · 90.2% own
• Severe rent burden: 251.0

Population outlook (Brazoria County) Hauer SSP2

• Today (2025): 420,414 people
• By 2030: 457,585 · +8.8%
• By 2040: 532,232 · +26.6%
• By 2050: 605,399 · +44.0%
• By 2075: 779,358 · +85.4%
• By 2100: 883,759 · +110.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 38% Black 34% White 20% Two or more races 18% Asian 5%
• Hispanic origin (detail): Mexican 31% Puerto Rican 2%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 16% · Canada, Vietnam, China
• Languages at home: 64% English-only · Spanish 28% Other Asian/Pacific 2% Vietnamese 1%

Political lean MEDSL · Brazoria

• 2024 margin: R (+19.7) · D 39.5% · R 59.2% · Other 1.3%
• 2008→2024 swing: +9.9pp toward D · 2008: -29.6pp · 2024: -19.7pp
• All cycles: 2024: R+19.7 2020: R+18.2 2016: R+24.6 2012: R+34.2 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -120.19%
• Current HPI: 198.6559
• Rent YoY: ▲ 0.44%
• 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

+9.7% since first listed

12 events — show timeline

• 2026-04-22 Price Changed $227,000 HARMLS
• 2026-04-16 Relisted — HARMLS
• 2026-03-28 Pending — HARMLS
• 2026-03-19 Pending — HARMLS
• 2026-02-26 Listed $220,000 HARMLS
• 2019-01-31 Sold (MLS) — HARMLS
• 2019-01-11 Pending — HARMLS
• 2019-01-04 Price Changed $201,900 HARMLS
• 2018-10-04 Price Changed $203,900 HARMLS
• 2018-09-28 Relisted — HARMLS
• 2018-09-24 Pending — HARMLS
• 2018-07-27 Listed $206,900 HARMLS

Property tax history

+52.9%/yr

Latest (2025): $7,538 · -7.1% YoY. Source: county tax records.