10115 Kateri Ct Plan · Conroe, TX 77303

$104,995

3 bd · 2.0 ba · 1,242 sqft · Manufactured · 189 Days on market

Manufactured home Good condition $85/sqft · 62% below area ↓ 13% since listing

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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 +28.2/30.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Appreciation +2.5/10.0
• Rent growth +2.4/5.0
• Manufactured-home adj. -5.6

Listing remarks MLS

This small, quaint 3-bedroom, 2-bath home is brand new and thoughtfully designed with a modern farmhouse feel. Enjoy an open layout, stylish finishes, and no carpet throughout for easy upkeep. The primary suite features double sinks and a beautifully finished bathroom. Perfect for those looking for comfort, charm, and modern living in one cozy space.

Key facts

• Listed 188 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $105k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $334 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 3.4% in Conroe — 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 (#169 in TX, #4,447 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, amenities B; Watch: commute F, health & safety F.
• Conroe ISD (other): math 57% / reading 57% proficiency, ranked #69 of 826 in TX (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Patterson El (math 33% / reading 35%, grade F, #2,149 of 4,322 statewide, top 50%, 977 students, 74% FRL); Bozman Int (math 44% / reading 40%, grade D-, #572 of 1,662 statewide, top 36%, 988 students, 68% FRL); Conroe H S (math 32% / reading 51%, grade F, #767 of 1,632 statewide, top 47%, 4,915 students, 61% FRL) — zoned schools average 68% FRL vs 34% district-wide (33 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 39% at this address vs 57% district-wide (-18 pts) — the specific schools serving this property underperform the Conroe ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.3%/yr); 884 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 13,259 units permitted in Montgomery County in 2024 (1,402 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Montgomery County population projected at +65% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Recommended offer $92,395 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
6. 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.
7. 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: 1.28% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.62%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (median comp): $275,000
• List price: $104,995
• Delta: -61.82%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10500 Fawn Mist Ct	0.46mi	3/2.0	1,244 (+0%)	2mo	$374,500	$301	76
10583 Altitude Way	0.36mi	3/2.0	1,273 (+2%)	7mo	$230,990	$181	73
10552 Fallow Ln	0.50mi	3/2.0	1,217 (-2%)	5mo	$330,000	$271	69
10475 Cloud Nine Ct	0.16mi	3/2.0	1,418 (+14%)	10mo	$242,990	$171	60
10451 Cloud Nine Ct	0.16mi	3/2.0	1,418 (+14%)	11mo	$242,990	$171	60
10515 Altitude Way	0.24mi	3/2.0	1,409 (+13%)	11mo	$240,990	$171	57
10507 Altitude Way	0.22mi	3/2.0	1,418 (+14%)	11mo	$242,990	$171	57
10519 Altitude Way	0.24mi	3/2.0	1,418 (+14%)	11mo	$242,990	$171	56
9731 Gulfstream Dr	1.23mi	3/2.0	1,288 (+4%)	9mo	$211,990	$165	51
10172 Northridge Dr	1.25mi	3/2.0	1,342 (+8%)	4mo	$399,000	$297	48
9554 Hindo Dr	0.97mi	3/2.0	1,386 (+12%)	4mo	$275,000	$198	43
10509 Iron Ore Rd	1.37mi	2/1.0 (-1)	1,426 (+15%)	9mo	$315,000	$221	24

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: 0.3%
• Equity multiple: 1.01×
• Total profit: $324
• Equity at exit: $15,655

10-year hold

• IRR: 6.6%
• Equity multiple: 1.43×
• Total profit: $12,538
• Equity at exit: $9,078

Cash invested: $29,399 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 11 active
• Months of supply: 66.0 mo (2%/mo absorbed)
• Median asking: $109,995 ($77/sqft)
• Median days on market: 126 d
• This list price: 18% of active listings are priced below it
• ARV vs active asking: +188.8% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77303

• Home prices YoY: -22.4%
• Rents YoY: -0.3%
• Active inventory: 884
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,341 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $334

Break-even live

Break-even rent $918

Max offer price $104,995

Occupancy floor 70%

Sensitivity live

Price	-10% $406	-5% $370	+0% $334	+5% $297	+10% $261
Rent	-10% $228	-5% $281	+0% $334	+5% $387	+10% $440
Rate	-1.0pp $386	-0.5pp $360	base $334	+0.5pp $306	+1.0pp $279

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: $26,249
• Closing costs: $3,150
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11085 Pine Acre Trails Blvd Conroe, TX	2.0–4.0	2.0	1290	$1,499	$1.16	4d	1	0.06mi
10726 Sunlit St Conroe, TX	3.0	2.0	1400	$1,100	$0.79	66d	1	0.33mi

Listing history 50 events

1. 2026-08-08
   days on market $104,995 Active 189 DOM
2. 2026-08-06
   days on market $104,995 Active 187 DOM
3. 2026-08-05
   days on market $104,995 Active 186 DOM
4. 2026-08-04
   days on market $104,995 Active 185 DOM
5. 2026-08-03
   days on market $104,995 Active 184 DOM
6. 2026-07-31
   days on market $104,995 Active 181 DOM
7. 2026-07-30
   days on market $104,995 Active 179 DOM
8. 2026-07-28
   days on market $104,995 Active 178 DOM
9. 2026-07-26
   days on market $104,995 Active 176 DOM
10. 2026-07-24
    days on market $104,995 Active 174 DOM
11. 2026-07-23
    days on market $104,995 Active 173 DOM
12. 2026-07-22
    days on market $104,995 Active 172 DOM
13. 2026-07-21
    days on market $104,995 Active 171 DOM
14. 2026-07-20
    days on market $104,995 Active 170 DOM
15. 2026-07-18
    days on market $104,995 Active 168 DOM
16. 2026-07-18
    days on market $104,995 Active 167 DOM
17. 2026-07-16
    days on market $104,995 Active 166 DOM
18. 2026-07-15
    days on market $104,995 Active 165 DOM
19. 2026-07-14
    days on market $104,995 Active 164 DOM
20. 2026-07-13
    days on market $104,995 Active 163 DOM
21. 2026-07-13
    days on market $104,995 Active 162 DOM
22. 2026-07-11
    days on market $104,995 Active 161 DOM
23. 2026-07-10
    days on market $104,995 Active 160 DOM
24. 2026-07-09
    days on market $104,995 Active 159 DOM
25. 2026-07-07
    days on market $104,995 Active 157 DOM
26. 2026-07-06
    days on market $104,995 Active 156 DOM
27. 2026-07-06
    days on market $104,995 Active 155 DOM
28. 2026-07-05
    days on market $104,995 Active 154 DOM
29. 2026-07-03
    days on market $104,995 Active 153 DOM
30. 2026-07-02
    days on market $104,995 Active 152 DOM
31. 2026-07-01
    days on market $104,995 Active 151 DOM
32. 2026-06-30
    days on market $104,995 Active 150 DOM
33. 2026-06-29
    days on market $104,995 Active 149 DOM
34. 2026-06-28
    days on market $104,995 Active 148 DOM
35. 2026-06-27
    days on market $104,995 Active 147 DOM
36. 2026-06-26
    days on market $104,995 Active 146 DOM
37. 2026-06-24
    days on market $104,995 Active 144 DOM
38. 2026-06-22
    days on market $104,995 Active 142 DOM
39. 2026-06-21
    days on market $104,995 Active 141 DOM
40. 2026-06-18
    days on market $104,995 Active 138 DOM
41. 2026-06-17
    days on market $104,995 Active 137 DOM
42. 2026-06-16
    days on market $104,995 Active 136 DOM
43. 2026-06-15
    days on market $104,995 Active 135 DOM
44. 2026-06-13
    days on market $104,995 Active 133 DOM
45. 2026-06-09
    days on market $104,995 Active 129 DOM
46. 2026-06-08
    days on market $104,995 Active 128 DOM
47. 2026-06-07
    days on market $104,995 Active 127 DOM
48. 2026-06-04
    days on market $104,995 Active 124 DOM
49. 2026-06-03
    days on market $104,995 Active 123 DOM
50. 2026-06-02
    days on market $104,995 Active 122 DOM

ⓘ 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: $16,089
• − Mortgage interest: −$5,881
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,287
• − Management: −$1,287
• − Depreciation: −$3,054
• Taxable income: $2,479
• Est. tax owed @ 24.0%: −$595
• After-tax cash flow: $3,408/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 · 10 photos

Good 80/100 None rehab

This modern farmhouse-style home is in excellent condition with no visible repairs needed. It offers a great balance of style and functionality, making it an ideal investment for both resale and rental markets.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Replace light fixtures with energy-efficient ones — Saves on energy costs and improves ambiance ↑
• Both Install smart home devices for energy efficiency and convenience — Improves energy efficiency and adds modern appeal ↑

F Composite school gradezoned avg 39/100

Zoned Schools

Elementary Patterson El F TX #2,149/4,322 Nat'l #24,299/41,679 Middle Bozman Int D- TX #572/1,662 Nat'l #5,398/14,009 High Conroe H S F TX #767/1,632 Nat'l #7,907/17,239

Schools (NCES district)

• District: Conroe ISD
• NCES district ID: 4815000
• Math proficiency: 57% ▼ -6.00%
• Reading proficiency: 57% ▼ -1.00%
• Median HH income: $71,541
• Composite: 50.65/100
• National rank: #1833
• State rank: #69 of 826 in TX

B Composite livability gradescore 74/100

Livability — Conroe

• Score: 74/100
• State rank: #169
• US rank: #4447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montgomery County · 713,896 people
• City population: 205,417
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 28,854
• Household income: $75,348
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 8% of renters

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Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 713,896 people
• By 2030: 805,263 · +12.8%
• By 2040: 992,708 · +39.1%
• By 2050: 1,179,590 · +65.2%
• By 2075: 1,628,084 · +128.1%
• By 2100: 1,937,880 · +171.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: White 54% Hispanic / Latino 38% Two or more races 17% Black 4%
• Hispanic origin (detail): Mexican 25%
• Common ancestry: Lithuanian 1% Romanian 1% Slovak 1%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 69% English-only · Spanish 31%

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Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.3%
• 2008→2024 swing: +7.2pp toward D · 2008: -52.7pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+43.8 2016: R+51.4 2012: R+60.7 2008: R+52.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -77.71%
• Current HPI: 269.5367
• Rent YoY: ▼ -0.31%
• Metro: Houston-The Woodlands-Sugar Land, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

-12.5% since first listed

2 events — show timeline

• 2026-05-13 Price Changed $104,995 Zillow
• 2026-01-31 Listed $119,995 Zillow