The Princeton II Plan · Weston Lakes, TX 77441

$360,990

4 bd · 2.5 ba · 2,841 sqft · SingleFamily · 649 Days on market

Excellent condition ↓ 6% since listing

---

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 +11.5/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +4.6/10.0
• DSCR +3.4/10.0
• 1% rule +3.3/10.0
• Livability +3.0/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A homeowner favorite, the Princeton II welcomes you with a cozy covered front porch that leads into the foyer with a formal dining and formal living room that can be converted into a home office. The open concept kitchen/breakfast/family room area creates a cohesive gathering place with options to customize. Boasting four bedrooms, and two and a half baths, with a second story bonus room that can be optioned into a closed off media room off the open loft, this versatile plan allows for the extra space to be used for a 5th bedroom and 3rd full bath instead for more sleeping space. A covered back patio is also standard, but choose the expanded option for even more outdoor living space.

Key facts

• Covered front porch
• Open concept kitchen
• 2 parking spots

Tags

• COVERED FRONT PORCH
• OPEN CONCEPT KITCHEN
• SECOND STORY BONUS ROOM

🏗️ New construction. The $360,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $379,822.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $361k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-123 ($-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 $317k (12.3% below list).
• Recommended offer: $317k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 5.9% vs local median 1.5% in Weston Lakes — 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 59/100 on livability (#1,122 in TX) — a working-class tenant base; expect higher turnover. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living F.
• Lamar CISD (suburban): math 50% / reading 53% proficiency, ranked #116 of 826 in TX (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Huggins El (math 61% / reading 63%, grade B, #321 of 4,322 statewide, top 8%, 893 students, 23% FRL); Briscoe J H (math 59% / reading 60%, grade B, #166 of 1,662 statewide, top 11%, 1,914 students, 38% FRL); Foster H S (math 64% / reading 74%, grade B, #141 of 1,632 statewide, top 9%, 2,388 students, 34% FRL).
• Zoned-school proficiency averages 64% at this address vs 52% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Lamar CISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-1.6%/yr); 1242 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 12,093 units permitted in Fort Bend County in 2024 (815 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Fort Bend County population projected at +75% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 649 days — a 12% lower offer ($318k) is reasonable based on typical stale-listing flexibility.

Recommended offer $316,677 (12.3% 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. It's been on market 649 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.83% ✗
• Cap rate: 5.90%
• Cash-on-cash: -1.39%
• DSCR: 0.94
• GRM: 10.0

CMA / ARV

• ARV (median comp): $379,822
• List price: $360,990
• Delta: -4.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32350 Slender Spreadwing Dr	0.37mi	5/3.5 (+1)	2,841 (0%)	1mo	$412,945	$145	73
32452 Forktail Lake Dr	0.36mi	4/3.0	2,718 (-4%)	3mo	$545,990	$201	72
8235 Red Shiner Way	0.22mi	5/4.0 (+1)	2,949 (+4%)	2mo	$414,990	$141	71
32441 Forktail Lake Dr	0.36mi	4/3.5	2,988 (+5%)	2mo	$549,990	$184	69
8023 River Bluet Pl	0.39mi	4/3.0	3,048 (+7%)	1mo	$870,000	$285	67
8006 River Bluet Pl	0.43mi	4/3.0	3,018 (+6%)	3mo	$560,990	$186	66
7814 River Bluet Pl	0.52mi	4/3.0	3,031 (+7%)	2mo	$579,990	$191	61
7914 River Bluet Pl	0.44mi	4/3.5	3,116 (+10%)	3mo	$585,990	$188	57
32445 Forktail Lake Dr	0.36mi	5/4.0 (+1)	3,221 (+13%)	1mo	$565,000	$175	50
8126 Sun Leaf Ct	0.64mi	4/4.0	3,198 (+13%)	2mo	$558,888	$175	42
8022 Sunny Ridge Dr	0.72mi	4/3.5	3,198 (+13%)	1mo	$549,832	$172	40
5303 Weston Dr	0.71mi	3/3.5 (-1)	3,176 (+12%)	2mo	$625,000	$197	37

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: -22.0%
• Equity multiple: 0.26×
• Total profit: $-78,622
• Equity at exit: $56,633

10-year hold

• IRR: -25.6%
• Equity multiple: -0.07×
• Total profit: $-114,231
• Equity at exit: $32,840

Cash invested: $106,350 (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 77441

• Rents YoY: -1.6%
• Active inventory: 1242
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $3,167 medium
• Mortgage (P&I): −$1,992
• Tax est. 1.5%: −$475 /mo · $5,697/yr
• Insurance: −$158
• HOA: −$0
• Vacancy / Maint / Mgmt: −$665
• Net cashflow: $-123

Break-even live

Break-even rent $3,323

Max offer price $362,007

Occupancy floor 99%

Sensitivity live

Price	-10% $139	-5% $8	+0% $-123	+5% $-254	+10% $-386
Rent	-10% $-373	-5% $-248	+0% $-123	+5% $2	+10% $127
Rate	-1.0pp $68	-0.5pp $-27	base $-123	+0.5pp $-222	+1.0pp $-322

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: $94,956
• Closing costs: $11,395
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8106 Royal Palm Ct Fulshear, TX	5.0	4.0	2946	$2,950	$1.00	45d	1	1.33mi
8114 Royal Palm Ct Fulshear, TX	5.0	4.0	2960	$3,295	$1.11	45d	1	1.35mi

Listing history 19 events

1. 2026-06-21
   days on market $360,990 Active 649 DOM
2. 2026-06-18
   days on market $360,990 Active 646 DOM
3. 2026-06-17
   days on market $360,990 Active 645 DOM
4. 2026-06-16
   days on market $360,990 Active 644 DOM
5. 2026-06-15
   days on market $360,990 Active 643 DOM
6. 2026-06-13
   days on market $360,990 Active 641 DOM
7. 2026-06-10
   days on market $360,990 Active 637 DOM
8. 2026-06-08
   days on market $360,990 Active 636 DOM
9. 2026-06-07
   days on market $360,990 Active 635 DOM
10. 2026-06-04
    days on market $360,990 Active 632 DOM
11. 2026-06-03
    days on market $360,990 Active 631 DOM
12. 2026-06-02
    days on market $360,990 Active 630 DOM
13. 2026-06-01
    days on market $360,990 Active 629 DOM
14. 2026-05-31
    days on market $360,990 Active 628 DOM
15. 2026-01-16
    price $360,990 692-char remark

    Show marketing remark (692 chars)

    A homeowner favorite, the Princeton II welcomes you with a cozy covered front porch that leads into the foyer with a formal dining and formal living room that can be converted into a home office. The open concept kitchen/breakfast/family room area creates a cohesive gathering place with options to customize. Boasting four bedrooms, and two and a half baths, with a second story bonus room that can be optioned into a closed off media room off the open loft, this versatile plan allows for the extra space to be used for a 5th bedroom and 3rd full bath instead for more sleeping space. A covered back patio is also standard, but choose the expanded option for even more outdoor living space.

16. 2025-08-01
    price $358,990 692-char remark

    Show marketing remark (692 chars)

    A homeowner favorite, the Princeton II welcomes you with a cozy covered front porch that leads into the foyer with a formal dining and formal living room that can be converted into a home office. The open concept kitchen/breakfast/family room area creates a cohesive gathering place with options to customize. Boasting four bedrooms, and two and a half baths, with a second story bonus room that can be optioned into a closed off media room off the open loft, this versatile plan allows for the extra space to be used for a 5th bedroom and 3rd full bath instead for more sleeping space. A covered back patio is also standard, but choose the expanded option for even more outdoor living space.

17. 2025-02-04
    price $356,990 692-char remark

    Show marketing remark (692 chars)

    A homeowner favorite, the Princeton II welcomes you with a cozy covered front porch that leads into the foyer with a formal dining and formal living room that can be converted into a home office. The open concept kitchen/breakfast/family room area creates a cohesive gathering place with options to customize. Boasting four bedrooms, and two and a half baths, with a second story bonus room that can be optioned into a closed off media room off the open loft, this versatile plan allows for the extra space to be used for a 5th bedroom and 3rd full bath instead for more sleeping space. A covered back patio is also standard, but choose the expanded option for even more outdoor living space.

18. 2024-12-11
    price $374,990 692-char remark

    Show marketing remark (692 chars)

    A homeowner favorite, the Princeton II welcomes you with a cozy covered front porch that leads into the foyer with a formal dining and formal living room that can be converted into a home office. The open concept kitchen/breakfast/family room area creates a cohesive gathering place with options to customize. Boasting four bedrooms, and two and a half baths, with a second story bonus room that can be optioned into a closed off media room off the open loft, this versatile plan allows for the extra space to be used for a 5th bedroom and 3rd full bath instead for more sleeping space. A covered back patio is also standard, but choose the expanded option for even more outdoor living space.

19. 2024-09-10
    listed $384,990 Active 692-char remark

    Show marketing remark (692 chars)

    A homeowner favorite, the Princeton II welcomes you with a cozy covered front porch that leads into the foyer with a formal dining and formal living room that can be converted into a home office. The open concept kitchen/breakfast/family room area creates a cohesive gathering place with options to customize. Boasting four bedrooms, and two and a half baths, with a second story bonus room that can be optioned into a closed off media room off the open loft, this versatile plan allows for the extra space to be used for a 5th bedroom and 3rd full bath instead for more sleeping space. A covered back patio is also standard, but choose the expanded option for even more outdoor living space.

ⓘ 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: $38,001
• − Mortgage interest: −$21,276
• − Property taxes: −$5,697
• − Insurance: −$1,899
• − Repairs & maintenance: −$3,040
• − Management: −$3,040
• − Depreciation: −$11,049
• Taxable loss: −$8,001
• Est. tax savings @ 24.0%: +$1,920
• After-tax cash flow: $443/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

Excellent 95/100 None rehab

This Princeton II home is in excellent condition with a modern design and well-maintained exterior. It offers a spacious layout with four bedrooms and two and a half bathrooms, making it ideal for a growing family or entertaining guests. The home is move-in ready and can be further enhanced with minor updates to the exterior and interior.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics
• Both Updating the flooring in the bedrooms — Hardwood floors are durable but can be refreshed with a new finish
• Resale Upgrading the kitchen appliances — Modern appliances can attract more buyers
• Both Adding smart home features — Smart home features can increase convenience and appeal to tech-savvy buyers

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 Updating the flooring in the bedrooms — Hardwood floors are durable but can be refreshed with a new finish ↑
• Resale Upgrading the kitchen appliances — Modern appliances can attract more buyers ↑
• Both Adding smart home features — Smart home features can increase convenience and appeal to tech-savvy buyers ↑

ⓘ 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: Lamar CISD
• NCES district ID: 4826580
• Math proficiency: 50% ▼ -12.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $75,213
• Composite: 46.43/100
• National rank: #2452
• State rank: #116 of 826 in TX

Livability — Weston Lakes

• Score: 59/100
• State rank: #1122
• US rank: #19641

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Fort Bend County · 836,777 people
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 41,324
• Household income: $184,390
• Rent vs Own: 8.0% rent · 92.0% own
• Severe rent burden: 301.0

Population outlook (Fort Bend County) Hauer SSP2

• Today (2025): 1,004,526 people
• By 2030: 1,153,104 · +14.8%
• By 2040: 1,453,718 · +44.7%
• By 2050: 1,753,781 · +74.6%
• By 2075: 2,455,772 · +144.5%
• By 2100: 2,930,528 · +191.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Hispanic / Latino 20% Two or more races 15% Asian 12% Black 6%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 5% Romanian 2% Italian 1%
• Foreign-born: 26% · Canada, China, Jamaica
• Languages at home: 68% English-only · Spanish 17% German/W. Germanic 4% Chinese 4%

Political lean MEDSL · Fort Bend

• 2024 margin: Toss-up / Even · D 49.5% · R 47.9% · Other 2.6%
• 2008→2024 swing: +4.0pp toward D · 2008: -2.4pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+10.6 2016: D+6.6 2012: R+6.8 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -154.74%
• Current HPI: 275.8798
• Rent YoY: ▼ -1.63%
• 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

-6.2% since first listed

5 events — show timeline

• 2026-01-16 Price Changed $360,990 Zillow
• 2025-08-01 Price Changed $358,990 Zillow
• 2025-02-04 Price Changed $356,990 Zillow
• 2024-12-11 Price Changed $374,990 Zillow
• 2024-09-10 Listed $384,990 Zillow