5023 Royal Regiment Ln · Houston, TX 77493

$269,900

3 bd · 2.0 ba · 1,656 sqft · SingleFamily public records · 33 Days on market

Built 2018 5,384 sqft lot $163/sqft · 11% below area Est $304k · 11% under $79/mo HOA · 3% 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 +12.6/15.0
• Cash flow +7.1/30.0
• Schools +5.7/10.0
• 1% rule +3.9/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

King Crossing is ideally situated in the north Katy countryside and provides excellent access to Grand Parkway 99 and offers onsite resort style pool, splash pad, and even a dog park. Beautiful 3 bedroom/2 bath Hewitt floor plan with study option. Home features stainless steel appliances, upgraded 42 inch White cabinets. Home has upgraded walk in shower in master bath. Features extra linen closet and has a large walk in closet.

Key facts

• Bright living space
• Updated cabinets
• Private retreat

Tags

• FRESH INTERIOR PAINT
• UPDATED CABINETS
• BRIGHT LIVING SPACE
• PRIVATE RETREAT

Property features AI

Finance

• Other: Living area approximately 1,656; Lot approximately 5,382 square feet (0.1236 acres)
• HOA & community: Community Association of King with annual fee of $950

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Residential property; Entry on first floor
• Construction: Brick construction; Composition roof; Built in 2018; Slab foundation
• Exterior features: Subdivision lot

Interior

• Kitchen: Dishwasher; Electric range; Microwave
• Bedrooms: Primary bedroom on the first floor (13 x 12); Two additional bedrooms on the first floor (each 11 x 10); Three total bedrooms
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Double vanity; Kitchen island; Tub with shower

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-378 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $203k (24.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (10.6% below list).
• Recommended offer: $203k (24.7% below list) — sets the bar for cash-flow.
• Cap rate 4.6% 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.
• Katy ISD (suburban): math 61% / reading 63% proficiency, ranked #29 of 826 in TX (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Robert King El (math 41% / reading 44%, grade F, #1,313 of 4,322 statewide, top 31%, 981 students, 68% FRL); Stockdick J H (math 41% / reading 51%, grade D+, #462 of 1,662 statewide, top 28%, 1,313 students, 55% FRL); Paetow H S (math 47% / reading 64%, grade C, #364 of 1,632 statewide, top 23%, 3,537 students, 62% FRL) — zoned schools average 62% FRL vs 27% district-wide (34 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 48% at this address vs 62% district-wide (-14 pts) — the specific schools serving this property underperform the Katy ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-0.8%/yr); 2729 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

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 33 days — a 3% lower offer ($262k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.
• Climate carrying-cost: moderate flood risk; 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 $203,146 (24.7% 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 33 days. Have you received any prior offers? Is the seller open to a 25% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.89% ✗
• Cap rate: 4.61%
• Cash-on-cash: -6.00%
• DSCR: 0.73
• GRM: 9.3

CMA / ARV

• ARV (median comp): $304,245
• List price: $269,900
• Delta: -11.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5010 Royal Regiment Ln	0.04mi	3/2.0	1,513 (-9%)	3mo	$288,000	$190	82
23631 Red Rowan	0.37mi	3/2.0	1,734 (+5%)	1mo	$314,990	$182	74
23615 Cinnamon Tree Ln	0.44mi	3/2.0	1,734 (+5%)	1mo	$374,600	$216	71
5207 Splendid Cir	0.56mi	3/2.0	1,677 (+1%)	1mo	$314,900	$188	71
23647 Red Rowan Ln	0.37mi	3/3.0	1,734 (+5%)	1mo	$397,786	$229	70
24319 Palomino Sage Trl	0.44mi	3/2.0	1,615 (-2%)	6mo	$279,995	$173	70
5403 Nobel Earl Ct	0.64mi	3/2.0	1,581 (-4%)	5mo	$299,900	$190	58
23651 Red Rowan	0.36mi	4/2.0 (+1)	1,880 (+14%)	2mo	$402,729	$214	54
23627 Red Rowan	0.41mi	4/2.0 (+1)	1,880 (+14%)	1mo	$374,990	$199	53
24751 Heirloom Ln	0.74mi	3/2.0	1,785 (+8%)	1mo	$339,000	$190	51
23642 Red Rowan Ln	0.38mi	4/3.0 (+1)	1,880 (+14%)	1mo	$420,155	$223	50
23607 Cinnamon Tree Ln	0.46mi	4/3.0 (+1)	1,880 (+14%)	1mo	$414,878	$221	46

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: -30.8%
• Equity multiple: 0.01×
• Total profit: $-74,582
• Equity at exit: $40,243

10-year hold

• IRR: -60.8%
• Equity multiple: -0.62×
• Total profit: $-122,075
• Equity at exit: $23,336

Cash invested: $75,572 (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 77493

• Rents YoY: -0.8%
• Active inventory: 2729
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,414 high
• Mortgage (P&I): −$1,415
• Tax from tax record: −$678 /mo · $8,133/yr
• Insurance: −$112
• HOA: −$79
• Vacancy / Maint / Mgmt: −$507
• Net cashflow: $-378

Break-even live

Break-even rent $2,892

Max offer price $203,146

Occupancy floor —

Sensitivity live

Price	-10% $-225	-5% $-301	+0% $-378	+5% $-454	+10% $-531
Rent	-10% $-569	-5% $-473	+0% $-378	+5% $-283	+10% $-187
Rate	-1.0pp $-242	-0.5pp $-309	base $-378	+0.5pp $-448	+1.0pp $-519

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5022 Brewcastle Ln Katy, TX	3.0	2.0	1524	$2,100	$1.38	45d	1	0.04mi
24246 Palomino Sage Trl Katy, TX	3.0	2.0	1860	$2,305	$1.24	46d	1	0.38mi
5103 Visionary Dr Katy, TX	3.0–4.0	2.0–2.5	1692	$2,121	$1.25	3d	9	0.61mi
23030 Cunningham Falls Trl Katy, TX	1.0–3.0	1.0–2.0	1213	$2,900	$2.39	0d	242	0.86mi
4019 Ventana Ridge Dr Katy, TX	3.0–4.0	2.0–2.5	1622	$2,145	$1.32	0d	5	1.03mi
22865 Terrazzo Dr Katy, TX	4.0	2.5	2017	$2,759	$1.37	17d	1	1.09mi
22855 Terrazzo Dr Katy, TX	3.0	2.5	1667	$2,399	$1.44	14d	1	1.12mi
22841 Terrazzo Dr Katy, TX	3.0	2.5	1464	$2,249	$1.54	7d	1	1.14mi
22851 Terazzo Dr Katy, TX	3.0–4.0	2.5–3.0	1740	$2,239	$1.29	0d	1	1.14mi
22824 Frassino Pl Katy, TX	4.0	2.5	2017	$2,629	$1.30	3d	1	1.15mi
24508 Clay Rd Unit AVL2 Katy, TX	2.0	2.0	1053	$1,785	$1.70	5d	1	1.16mi
22808 Terrazzo Dr Katy, TX	4.0	2.5	2004	$2,499	$1.25	0d	1	1.18mi
22743 Terrazzo Dr Katy, TX	3.0	3.0	1200	$2,309	$1.92	45d	1	1.24mi
22737 Terrazzo Dr Katy, TX	4.0	3.0	1873	$2,649	$1.41	45d	1	1.25mi
22738 Terrazzo Dr Katy, TX	4.0	3.0	1873	$2,539	$1.36	21d	1	1.25mi
22728 Terrazzo Dr Katy, TX	3.0	2.5	1667	$2,369	$1.42	26d	1	1.27mi
22722 Terrazzo Dr Katy, TX	4.0	2.5	2017	$2,559	$1.27	18d	1	1.27mi
22719 Terrazzo Dr Katy, TX	4.0	2.5	2004	$2,559	$1.28	19d	1	1.27mi
22716 Terrazzo Dr Katy, TX	4.0	3.0	1865	$2,439	$1.31	7d	1	1.28mi
22718 Terrazzo Dr Katy, TX	4.0	3.0	1873	$2,439	$1.30	7d	1	1.28mi
22720 Terrazzo Dr Katy, TX	4.0	2.5	2004	$2,559	$1.28	19d	1	1.28mi
22712 Terrazzo Dr Katy, TX	3.0	2.5	1464	$2,179	$1.49	26d	1	1.28mi
22717 Terrazzo Dr Katy, TX	4.0	2.5	2017	$2,629	$1.30	7d	1	1.28mi
22713 Terrazzo Dr Katy, TX	3.0	2.5	1667	$2,419	$1.45	14d	1	1.28mi
22622 Terrazzo Dr Katy, TX	4.0	3.0	1873	$2,569	$1.37	45d	1	1.30mi
22624 Terrazzo Dr Katy, TX	4.0	3.0	1865	$2,569	$1.38	45d	1	1.30mi
22626 Terrazzo Dr Katy, TX	4.0	2.5	2004	$2,699	$1.35	45d	1	1.31mi
22629 Terrazzo Dr Katy, TX	3.0	2.5	1464	$2,239	$1.53	7d	1	1.32mi
22628 Terrazzo Dr Katy, TX	4.0	2.5	2017	$2,659	$1.32	17d	1	1.32mi
22616 Terrazzo Dr Katy, TX	4.0	3.0	1865	$2,539	$1.36	17d	1	1.32mi
22614 Terrazzo Dr Katy, TX	4.0	3.0	1873	$2,539	$1.36	14d	1	1.33mi
22627 Terrazzo Dr Katy, TX	3.0	2.5	1464	$2,239	$1.53	7d	1	1.33mi
22617 Terrazzo Dr Katy, TX	3.0	2.5	1464	$2,279	$1.56	45d	1	1.34mi
22615 Terrazzo Dr Katy, TX	4.0	3.0	1865	$2,569	$1.38	45d	1	1.34mi
22613 Terrazzo Dr Katy, TX	4.0	3.0	1873	$2,569	$1.37	45d	1	1.34mi
4411 Andorno Dr Katy, TX	4.0	2.0	2094	$2,221	$1.06	26d	1	1.34mi
22611 Terrazzo Dr Katy, TX	4.0	3.0	1865	$2,569	$1.38	45d	1	1.34mi
23100 Clay Rd Katy, TX	1.0–3.0	1.0–2.0	988	$2,299	$2.33	0d	36	1.38mi
23100 Clay Rd Unit 144208 Katy, TX	2.0	2.0	1200	$1,595	$1.33	45d	1	1.43mi
23100 Clay Rd Unit 210014 Katy, TX	2.0	2.0	1149	$1,600	$1.39	45d	1	1.43mi

HOA detail

• Monthly dues: $79 · $948/yr
• Likely covers: pool

Listing history 14 events

1. 2026-06-04
   status $269,900 Pending 33 DOM
2. 2026-06-03
   days on market $269,900 Active 33 DOM
3. 2026-06-02
   days on market $269,900 Active 32 DOM
4. 2026-06-01
   days on market $269,900 Active 31 DOM
5. 2026-05-31
   days on market $269,900 Active 30 DOM
6. 2026-05-01
   listed $269,900 Active 685-char remark
7. 2026-04-08
   soldstatus
8. 2018-07-27
   soldstatus Sold 431-char remark

   Show marketing remark (431 chars)

   King Crossing is ideally situated in the north Katy countryside and provides excellent access to Grand Parkway 99 and offers onsite resort style pool, splash pad, and even a dog park. Beautiful 3 bedroom/2 bath Hewitt floor plan with study option. Home features stainless steel appliances, upgraded 42 inch White cabinets. Home has upgraded walk in shower in master bath. Features extra linen closet and has a large walk in closet.

9. 2018-07-02
   status Pending 431-char remark

   Show marketing remark (431 chars)

   King Crossing is ideally situated in the north Katy countryside and provides excellent access to Grand Parkway 99 and offers onsite resort style pool, splash pad, and even a dog park. Beautiful 3 bedroom/2 bath Hewitt floor plan with study option. Home features stainless steel appliances, upgraded 42 inch White cabinets. Home has upgraded walk in shower in master bath. Features extra linen closet and has a large walk in closet.

10. 2018-06-22
    price $204,999 431-char remark

    Show marketing remark (431 chars)

    King Crossing is ideally situated in the north Katy countryside and provides excellent access to Grand Parkway 99 and offers onsite resort style pool, splash pad, and even a dog park. Beautiful 3 bedroom/2 bath Hewitt floor plan with study option. Home features stainless steel appliances, upgraded 42 inch White cabinets. Home has upgraded walk in shower in master bath. Features extra linen closet and has a large walk in closet.

11. 2018-06-21
    listed $215,730 Active 431-char remark

    Show marketing remark (431 chars)

    King Crossing is ideally situated in the north Katy countryside and provides excellent access to Grand Parkway 99 and offers onsite resort style pool, splash pad, and even a dog park. Beautiful 3 bedroom/2 bath Hewitt floor plan with study option. Home features stainless steel appliances, upgraded 42 inch White cabinets. Home has upgraded walk in shower in master bath. Features extra linen closet and has a large walk in closet.

12. 2018-06-08
    soldstatus Sold

    Show marketing remark (275 chars)

    Beautiful 3 bedroom/2 bath Hewitt floor plan with study option. Home features stainless steel appliances, upgraded 42 inch White cabinets. Home has upgraded walk in shower in master bath. Features extra linen closet and has a large walk in closet. Available for July Move-In!

13. 2018-04-19
    status Pending

    Show marketing remark (275 chars)

    Beautiful 3 bedroom/2 bath Hewitt floor plan with study option. Home features stainless steel appliances, upgraded 42 inch White cabinets. Home has upgraded walk in shower in master bath. Features extra linen closet and has a large walk in closet. Available for July Move-In!

14. 2018-04-09
    listed $210,410 Active

    Show marketing remark (275 chars)

    Beautiful 3 bedroom/2 bath Hewitt floor plan with study option. Home features stainless steel appliances, upgraded 42 inch White cabinets. Home has upgraded walk in shower in master bath. Features extra linen closet and has a large walk in closet. Available for July Move-In!

ⓘ 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: $8,133 · $678/mo
• Projected year-2 tax: $8,133 · $678/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 5/10 Major FEMA zone X (shaded) · 66% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,963
• − Mortgage interest: −$15,119
• − Property taxes: −$8,133
• − Insurance: −$1,350
• − Repairs & maintenance: −$2,317
• − Management: −$2,317
• − HOA: −$948
• − Depreciation: −$7,852
• Taxable loss: −$9,072
• Est. tax savings @ 24.0%: +$2,177
• After-tax cash flow: $-2,357/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: Katy ISD
• NCES district ID: 4825170
• Math proficiency: 61% ▼ -7.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $90,312
• Composite: 56.59/100
• National rank: #1146
• State rank: #29 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): 71,484
• Household income: $118,464
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 913.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 36% Hispanic / Latino 33% Two or more races 16% Black 15% Asian 12%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 21% · Canada, Vietnam, Jamaica
• Languages at home: 64% English-only · Spanish 22% Vietnamese 5% French/Haitian/Cajun 4%

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: ▼ -140.65%
• Current HPI: 233.1683
• Rent YoY: ▼ -0.80%
• 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

+28.3% since first listed

10 events — show timeline

• 2026-06-03 Pending — HARMLS
• 2026-05-01 Listed $269,900 HARMLS
• 2026-04-08 Sold (Public Records) — Public Records
• 2018-07-27 Sold (MLS) — HARMLS
• 2018-07-02 Pending — HARMLS
• 2018-06-22 Price Changed $204,999 HARMLS
• 2018-06-21 Listed $215,730 HARMLS
• 2018-06-08 Sold (MLS) — HARMLS
• 2018-04-19 Pending — HARMLS
• 2018-04-09 Listed $210,410 HARMLS

Property tax history

+35.4%/yr

Latest (2025): $8,133 · +3.6% YoY. Source: county tax records.