Hanna Plan · Houston, TX 77532

$272,990

4 bd · 2.5 ba · 2,042 sqft · SingleFamily · 78 Days on market

Good condition

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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).

• Cash flow +15.7/30.0
• ARV discount +7.5/15.0
• DSCR +4.8/10.0
• 1% rule +4.3/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

You have arrived at the Hanna Plan, this spacious two-story home spans 2,042 square feet and holds four bedrooms, two and a half bathrooms, and a loft, making it perfect for a family-style floor plan! Upon arrival, if guests need to freshen up, there is a convenient half bathroom just a few steps away in the foyer. A coat closet is also located in the foyer, perfectly positioned to welcome guests. Near the end of the foyer is the carpeted stairway, leading up to the second story of the home. The heart of this home revolves around the family room, dining room, and kitchen, which lie at the end of the foyer. With an open floor plan perfect for a busy life or entertainment, this home is ideal for handling a busy life. In the kitchen, you will find stainless steel appliances, abundant cabinet storage, an L-shaped pantry, and an island for additional countertop space. The utility room, which sits behind the kitchen, has vinyl floors and provides space for a washer, dryer, and some storage. When moving to the primary bedroom, you will notice that the primary bedroom is the only bedroom on the first floor of the home. The bedroom has carpet flooring and two bright windows opening to the back of the property, allowing for sunlight to adorn the room with its rays. The primary bathroom is practical with dual sinks, vinyl floors, a linen nook, a standing shower, and a separate toilet room. The bathroom opens to a sizeable walk-in closet, finished with carpet flooring and providing sp

Key facts

• Open floor plan
• Carpeted stairway
• Coat closet

Tags

• HALF BATHROOM
• COAT CLOSET
• CARPETED STAIRWAY
• OPEN FLOOR PLAN
• STAINLESS STEEL APPLIANCES
• ABUNDANT CABINET STORAGE

🏗️ New construction. The $272,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $265,462.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $273k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $116 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (9.6% below list).
• Recommended offer: $247k (9.6% below list) — sets the bar for 1% rule.
• Cap rate 6.8% 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: crime F.
• Crosby ISD (rural): math 39% / reading 40% proficiency, ranked #369 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crosby Middle (math 36% / reading 37%, grade F, #786 of 1,662 statewide, top 48%, 1,549 students, 60% FRL); Crosby H S (math 44% / reading 45%, grade F, #652 of 1,632 statewide, top 43%, 1,937 students, 54% FRL).
• Market conditions: Rents rising (+1.5%/yr); 1189 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 32% of the median local income ($92k/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 $8k of value loss. Plan a longer hold.
• 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 78 days — a 6% lower offer ($257k) is reasonable based on typical stale-listing flexibility.

Recommended offer $246,866 (9.6% below list)

Questions for the listing agent

1. It's been on market 78 days. Have you received any prior offers? Is the seller open to a 10% 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. 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?
6. 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?
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: 0.93% ✗
• Cap rate: 6.82%
• Cash-on-cash: 1.87%
• DSCR: 1.08
• GRM: 9.0

CMA / ARV

• ARV (median comp): $265,462
• List price: $272,990
• Delta: 2.84%
• 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
1735 Green Warbler Ln	0.13mi	4/2.5	2,042 (0%)	1mo	$273,190	$134	94
1719 Green Warbler Ln	0.11mi	4/2.5	1,968 (-4%)	0mo	$269,190	$137	88
1730 Green Warbler Ln	0.11mi	4/2.5	2,107 (+3%)	2mo	$274,990	$131	88
1703 Indian Shores Rd	0.13mi	3/3.0 (-1)	1,943 (-5%)	0mo	$367,500	$189	79
1406 Indian Shores Rd	0.27mi	3/2.0 (-1)	2,005 (-2%)	3mo	$200,000	$100	75
20038 White Dove Trl	0.47mi	4/2.0	1,979 (-3%)	0mo	$218,990	$111	70
20027 White Dove Trl	0.50mi	4/2.5	1,979 (-3%)	2mo	$283,990	$144	70
20018 White Dove Trl	0.50mi	4/2.5	1,979 (-3%)	2mo	$279,990	$141	70
2002 Indian Shores Rd	0.39mi	3/2.0 (-1)	1,975 (-3%)	1mo	$350,000	$177	68
2159 Silver Moon Trl	0.58mi	3/2.5 (-1)	2,074 (+2%)	3mo	$510,000	$246	62
1306 W Stroker Rd	0.34mi	3/2.0 (-1)	2,304 (+13%)	2mo	$310,000	$135	54
1823 White Feather Trl	0.72mi	3/2.5 (-1)	2,151 (+5%)	2mo	$239,000	$111	52

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 · 1.48% rent growth · sell at horizon

5-year hold

• IRR: -15.0%
• Equity multiple: 0.47×
• Total profit: $-39,330
• Equity at exit: $39,581

10-year hold

• IRR: -9.2%
• Equity multiple: 0.47×
• Total profit: $-39,411
• Equity at exit: $22,952

Cash invested: $74,329 (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 77532

• Home prices YoY: -28.6%
• Rents YoY: 1.5%
• Active inventory: 1189
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,469 medium
• Mortgage (P&I): −$1,392
• Tax est. 1.5%: −$332 /mo · $3,982/yr
• Insurance: −$111
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $116

Break-even live

Break-even rent $2,322

Max offer price $265,462

Occupancy floor 90%

Sensitivity live

Price	-10% $299	-5% $207	+0% $116	+5% $24	+10% $-68
Rent	-10% $-79	-5% $18	+0% $116	+5% $213	+10% $311
Rate	-1.0pp $249	-0.5pp $183	base $116	+0.5pp $47	+1.0pp $-23

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: $66,366
• Closing costs: $7,964
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20119 Iron Winds St Crosby, TX	3.0	2.0	1418	$1,875	$1.32	14d	1	0.20mi
1823 Black Bear Dr Crosby, TX	3.0	2.5	2564	$2,395	$0.93	45d	1	1.11mi

Listing history 14 events

1. 2026-06-21
   days on market $272,990 Active 78 DOM
2. 2026-06-18
   days on market $272,990 Active 75 DOM
3. 2026-06-17
   days on market $272,990 Active 74 DOM
4. 2026-06-16
   days on market $272,990 Active 73 DOM
5. 2026-06-15
   days on market $272,990 Active 72 DOM
6. 2026-06-13
   days on market $272,990 Active 70 DOM
7. 2026-06-09
   days on market $272,990 Active 66 DOM
8. 2026-06-08
   days on market $272,990 Active 65 DOM
9. 2026-06-07
   days on market $272,990 Active 64 DOM
10. 2026-06-04
    days on market $272,990 Active 61 DOM
11. 2026-06-02
    days on market $272,990 Active 59 DOM
12. 2026-06-01
    days on market $272,990 Active 58 DOM
13. 2026-05-31
    days on market $272,990 Active 57 DOM
14. 2026-04-04
    listed $272,990 Active 1498-char remark

    Show marketing remark (1498 chars)

    You have arrived at the Hanna Plan, this spacious two-story home spans 2,042 square feet and holds four bedrooms, two and a half bathrooms, and a loft, making it perfect for a family-style floor plan! Upon arrival, if guests need to freshen up, there is a convenient half bathroom just a few steps away in the foyer. A coat closet is also located in the foyer, perfectly positioned to welcome guests. Near the end of the foyer is the carpeted stairway, leading up to the second story of the home. The heart of this home revolves around the family room, dining room, and kitchen, which lie at the end of the foyer. With an open floor plan perfect for a busy life or entertainment, this home is ideal for handling a busy life. In the kitchen, you will find stainless steel appliances, abundant cabinet storage, an L-shaped pantry, and an island for additional countertop space. The utility room, which sits behind the kitchen, has vinyl floors and provides space for a washer, dryer, and some storage. When moving to the primary bedroom, you will notice that the primary bedroom is the only bedroom on the first floor of the home. The bedroom has carpet flooring and two bright windows opening to the back of the property, allowing for sunlight to adorn the room with its rays. The primary bathroom is practical with dual sinks, vinyl floors, a linen nook, a standing shower, and a separate toilet room. The bathroom opens to a sizeable walk-in closet, finished with carpet flooring and providing sp

ⓘ 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: $29,624
• − Mortgage interest: −$14,870
• − Property taxes: −$3,982
• − Insurance: −$1,327
• − Repairs & maintenance: −$2,370
• − Management: −$2,370
• − Depreciation: −$7,723
• Taxable loss: −$3,018
• Est. tax savings @ 24.0%: +$724
• After-tax cash flow: $2,113/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 · 6 photos

Good 80/100 None rehab

This Hanna Plan home is in good condition with a spacious floor plan and modern features. It is move-in ready and has the potential for further value increases through minor updates and improvements.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants.
• Both Adding smart home features — Smart home features can increase the home's value and appeal to tech-savvy buyers/tenants.
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers/tenants.

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 Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Both Adding smart home features — Smart home features can increase the home's value and appeal to tech-savvy buyers/tenants. ↑
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers/tenants. ↑

ⓘ 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: Crosby ISD
• NCES district ID: 4815750
• Math proficiency: 39% ▼ -13.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $61,079
• Composite: 35.14/100
• National rank: #5012
• State rank: #369 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): 33,780
• Household income: $92,201
• Rent vs Own: 13.9% rent · 86.1% own
• Severe rent burden: 382.0

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 0.60)
• Race & ethnicity: White 54% Hispanic / Latino 31% Two or more races 16% Black 9%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 4% Romanian 3% Italian 2%
• Foreign-born: 10% · Canada
• Languages at home: 78% English-only · Spanish 21%

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: ▼ -105.63%
• Current HPI: 264.0126
• Rent YoY: ▲ 1.48%
• 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

• 2026-04-04 Listed $272,990 Zillow