19248 Red Argan Ct · Houston, TX 77073

$215,000

3 bd · 2.5 ba · 1,986 sqft · SingleFamily public records · 123 Days on market

Built 2017 2,993 sqft lot $108/sqft · 8% below area Est $233k · 8% under $71/mo HOA · 4% of rent

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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 +11.0/15.0
• Cash flow +6.9/30.0
• Appreciation +4.7/10.0
• 1% rule +3.8/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.0/10.0
• DSCR +1.1/10.0

Listing remarks MLS

INVESTOR SPECIAL – EQUITY STARTS HERE. This 3-bedroom, 2-bathroom residence is the perfect canvas for your next project. Sold AS-IS, and priced to sell quickly. We are looking for serious buyers ready to close. Don't let this one slip away—opportunities in this price point are moving fast! The home features a functional layout and existing granite countertops. Positioned in a high-demand area, this property is priced to reflect its current condition and offers a significant margin for resale or a high-yield rental. Schedule your walkthrough today to capture this value-add opportunity! Priced to sell—serious buyers only, no lowball offers. Don’t miss this chance to create value in a desirable location!

Key facts

• Desirable location
• High-demand area
• Functional layout

Tags

• GRANITE COUNTERTOPS
• FUNCTIONAL LAYOUT
• HIGH-DEMAND AREA
• DESIRABLE LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $-322 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (26.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (11.8% below list).
• Recommended offer: $158k (26.5% below list) — sets the bar for cash-flow.
• Cap rate 4.5% vs local median 3.2% in Houston — 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 (#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.
• Spring ISD (suburban): math 19% / reading 26% proficiency, ranked #730 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 159 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $29 of equity ($1k loan paydown + $-1k appreciation (-0.7% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 123 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $158,069 (26.5% 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 123 days. Have you received any prior offers? Is the seller open to a 26% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.88% ✗
• Cap rate: 4.49%
• Cash-on-cash: -6.42%
• DSCR: 0.71
• GRM: 9.4

CMA / ARV

• ARV (median comp): $233,282
• List price: $215,000
• Delta: -7.84%
• 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
19229 Gunther Springs Ct	0.04mi	3/2.5	2,062 (+4%)	3mo	$219,999	$107	89
930 Belshear Ct	0.23mi	3/2.5	1,980 (-0%)	2mo	$229,999	$116	88
802 NW Bandon Ln	0.31mi	3/2.5	1,915 (-4%)	2mo	$229,900	$120	78
1619 Evermore Manor Ln	0.28mi	3/2.0	1,867 (-6%)	1mo	$239,000	$128	75
1407 Rising Springs Ln	0.12mi	4/2.5 (+1)	1,798 (-10%)	1mo	$199,990	$111	73
1431 Joy Oaks Ln	0.23mi	4/2.5 (+1)	1,838 (-8%)	0mo	$240,000	$131	72
611 Remwick Dr	0.45mi	3/2.5	1,832 (-8%)	1mo	$249,900	$136	66
19410 Green Chase Ln	0.37mi	4/2.5 (+1)	1,772 (-11%)	1mo	$222,899	$126	59
19835 Bettencourt Ln	0.33mi	4/2.5 (+1)	2,231 (+12%)	1mo	$254,600	$114	58
19515 Fletcher Way Dr	0.48mi	3/2.5	1,716 (-14%)	2mo	$229,000	$133	53
19514 Fletcher Way Dr	0.46mi	4/2.5 (+1)	2,200 (+11%)	3mo	$240,000	$109	53
19035 Remington Mill Dr	0.70mi	3/2.5	1,701 (-14%)	3mo	$179,900	$106	41

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.68% appreciation · 0.69% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.37×
• Total profit: $-37,649
• Equity at exit: $55,240

10-year hold

• IRR: -10.2%
• Equity multiple: 0.10×
• Total profit: $-54,346
• Equity at exit: $60,905

Cash invested: $60,200 (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 77073

• Home prices YoY: -0.3%
• Rents YoY: 0.7%
• Active inventory: 159
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,897 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$533 /mo · $6,395/yr
• Insurance: −$90
• HOA: −$71
• Vacancy / Maint / Mgmt: −$398
• Net cashflow: $-322

Break-even live

Break-even rent $2,305

Max offer price $158,069

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1418 Spencer Glen Ln Houston, TX	3.0	2.0	1540	$1,900	$1.23	16d	1	0.21mi
19959 Oland Way Houston, TX	3.0	2.0	2005	$1,800	$0.90	24d	1	0.42mi
1514 Glasholm Dr Houston, TX	3.0	2.0	1400	$1,300	$0.93	21d	1	0.49mi
920 Century Plaza Dr Houston, TX	3.0–4.0	2.0	1298	$1,199	$0.92	1d	1	0.86mi
815 Richcrest Dr Houston, TX	4.0	2.0	1766	$1,921	$1.09	24d	1	1.28mi
18011 Kinsale Valley Ln Houston, TX	4.0	2.0	1826	$1,750	$0.96	7d	1	1.33mi
17715 Wayforest Dr Apt 113 Houston, TX	3.0	1.0	1356	$1,340	$0.99	2d	1	1.43mi

HOA detail

• Monthly dues: $71 · $852/yr

Listing history 15 events

1. 2026-06-18
   days on market $215,000 Active 123 DOM
2. 2026-06-17
   days on market $215,000 Active 122 DOM
3. 2026-06-16
   days on market $215,000 Active 121 DOM
4. 2026-06-15
   days on market $215,000 Active 120 DOM
5. 2026-06-13
   days on market $215,000 Active 118 DOM
6. 2026-06-13
   days on market $215,000 Active 117 DOM
7. 2026-06-09
   days on market $215,000 Active 114 DOM
8. 2026-06-08
   days on market $215,000 Active 113 DOM
9. 2026-06-07
   days on market $215,000 Active 112 DOM
10. 2026-06-04
    days on market $215,000 Active 109 DOM
11. 2026-06-03
    days on market $215,000 Active 108 DOM
12. 2026-06-02
    days on market $215,000 Active 107 DOM
13. 2026-06-01
    days on market $215,000 Active 106 DOM
14. 2026-05-31
    days on market $215,000 Active 105 DOM
15. 2026-02-15
    listed $225,000 Active 734-char remark

    Show marketing remark (734 chars)

    INVESTOR SPECIAL – EQUITY STARTS HERE. This 3-bedroom, 2-bathroom residence is the perfect canvas for your next project. Sold AS-IS, and priced to sell quickly. We are looking for serious buyers ready to close. Don't let this one slip away—opportunities in this price point are moving fast! The home features a functional layout and existing granite countertops. Positioned in a high-demand area, this property is priced to reflect its current condition and offers a significant margin for resale or a high-yield rental. Schedule your walkthrough today to capture this value-add opportunity! Priced to sell—serious buyers only, no lowball offers. Don’t miss this chance to create value in a desirable location!

ⓘ 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: $6,395 · $533/mo
• Projected year-2 tax: $6,395 · $533/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 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,765
• − Mortgage interest: −$12,043
• − Property taxes: −$6,395
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,821
• − Management: −$1,821
• − HOA: −$852
• − Depreciation: −$6,255
• Taxable loss: −$7,497
• Est. tax savings @ 24.0%: +$1,799
• After-tax cash flow: $-2,068/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: Spring ISD
• NCES district ID: 4841220
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $51,584
• Composite: 20.12/100
• National rank: #8643
• State rank: #730 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): 46,084
• Household income: $78,592
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1297.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 59% Black 27% Two or more races 24% White 9% Native American 2% Asian 2%
• Hispanic origin (detail): Mexican 38% Cuban 2%
• Common ancestry: Lithuanian 1%
• Foreign-born: 29% · Canada, Jamaica
• Languages at home: 44% English-only · Spanish 53% French/Haitian/Cajun 2% Other Indo-European 1%

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: ▼ -0.68%
• Current HPI: 215.8688
• Rent YoY: ▲ 0.69%
• 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

1 event — show timeline

• 2026-02-15 Listed $225,000 HARMLS

Property tax history

+32.5%/yr

Latest (2025): $6,395 · -6.3% YoY. Source: county tax records.