2111 Amelia Way Dr

Sienna, TX 77459

$415,000C-

4 bd · 4.0 ba · 2,640 sqft · Built 2019 · SingleFamily · Active · 15 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $5,005/mo
• Mortgage (P&I): −$2,176
• Tax + insurance: −$1,249
• HOA: −$132
• Vac / Maint / Mgmt: −$1,051
• Net cashflow: $397/mo
• Annual: $4,763/yr
• Cap rate: 7.44%
• Cash-on-cash: 4.10%
• DSCR: 1.18
• 1% rule: 1.21%
• Cash to close: $116,200

Investor read

• This is a 4-bed/4.0-bath single-family listed at $415k.
• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $415k).
• It's been on market 15 days — a 2% lower offer ($409k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $409k (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-1.7%/yr); year-one equity from $3k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Fort Bend ISD (suburban): math 44% / reading 53% proficiency, ranked #140 of 826 in TX (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Ronald Thornton Middle (math 40% / reading 52%, grade D+, #462 of 1,662 statewide, top 28%, 1,529 students, 41% FRL).
• Watch-outs: property tax is 3.1% of price.
• Market conditions: Rents soft (-0.1%/yr); 1215 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 12,093 units permitted in Fort Bend County in 2024 (815 in 5+ unit buildings).
• Fort Bend County population projected at +75% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 2 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• 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.
• Cap rate 7.4% vs local median 3.3% in Sienna — 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.
• At $5,005/mo this rent would consume 47% of the median local household income ($129k/yr) (locally 1004% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Questions for listing agent

• Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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.
• 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.
• 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.