19638 Costa Marra Dr · Houston, TX 77447

$250,000

3 bd · 2.0 ba · 1,474 sqft · SingleFamily · 15 Days on market

Built 2026 Good condition $135/mo HOA · 6% of rent ↓ 5% since listing

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +5.9/30.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Rent growth +2.1/5.0
• 1% rule +1.8/10.0
• DSCR +0.3/10.0
• Appreciation +0.0/10.0

Listing remarks

The Idlewood Floor Plan - This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining, along with access to an outdoor space. An owner’s suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, ideal for household members and overnight guests. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• Walk-in closet
• Open floorplan
• Secondary bedrooms

Tags

• OPEN FLOORPLAN
• OUTDOOR SPACE
• OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• SECONDARY BEDROOMS

Property features AI

Finance

• Other: Pool available through association
• HOA & community: Association: RealManage Onsite Elevated; Annual association fee; Association amenities: Clubhouse, sport court, fitness center, picnic area, park, pool, tennis courts

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Under construction; New construction by Lennar Homes; Slab foundation; Composition roof
• Construction: Brick construction; Built in 2026
• Exterior features: Back yard fence; Subdivision lot

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Gas oven; Gas range
• Bedrooms: Primary bedroom (first floor); Bedroom (first floor); Bedroom (first floor); Total of 5 rooms
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric and gas); Central air conditioning (electric and gas)
• Interior features: Breakfast bar; Kitchen/family room combo; Kitchen/dining combo; Separate shower; Tub/shower
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

🏗️ New construction. The $250,000 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $310,990.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $250k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-610 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $223k (10.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $212k (15.2% below list).
• Recommended offer: $212k (15.2% below list) — sets the bar for 1% rule.
• Cap rate 3.9% vs local median 3.2% in Houston — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Waller ISD (rural): math 30% / reading 35% proficiency, ranked #532 of 826 in TX (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Evelyn Turlington El (math 46% / reading 45%, grade D-, #1,112 of 4,322 statewide, top 26%, 1,084 students, 69% FRL); Schultz J H (math 31% / reading 37%, grade F, #892 of 1,662 statewide, top 55%, 1,120 students, 65% FRL); Waller H S (math 25% / reading 40%, grade F, #1,029 of 1,632 statewide, top 64%, 2,639 students, 62% FRL).
• Market conditions: Rents soft (-1.6%/yr); 1791 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 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 $9k 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 15 days — a 2% lower offer ($246k) is reasonable based on typical stale-listing flexibility.

Recommended offer $211,948 (15.2% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 0.68% ✗
• Cap rate: 3.94%
• Cash-on-cash: -8.40%
• DSCR: 0.63
• GRM: 12.2

CMA / ARV

• ARV (median comp): $310,990
• List price: $250,000
• Delta: -19.61%
• 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
19654 Costa Marra Dr	0.02mi	3/2.0	1,474 (0%)	1mo	$263,990	$179	98
22202 San Lioni Ln	0.01mi	3/2.0	1,600 (+8%)	1mo	$311,990	$195	85
19307 Licola Ln	0.01mi	3/2.0	1,627 (+10%)	0mo	$276,990	$170	82
22011 Maddaloni View Dr	0.02mi	3/2.0	1,627 (+10%)	1mo	$296,990	$183	81
21647 Carbonari Dr	0.02mi	3/2.5	1,635 (+11%)	1mo	$330,990	$202	78
22034 Matera Vista Ln	0.08mi	3/2.0	1,642 (+11%)	1mo	$284,990	$174	76
19615 Costa Marra Dr	0.02mi	4/2.0 (+1)	1,644 (+12%)	1mo	$266,990	$162	74
21643 Carbonari Dr	0.02mi	4/2.0 (+1)	1,655 (+12%)	1mo	$333,990	$202	73
21623 Carbonari Dr	0.02mi	4/2.0 (+1)	1,655 (+12%)	1mo	$328,990	$199	73
19650 Costa Marra Dr	0.02mi	4/2.0 (+1)	1,670 (+13%)	1mo	$275,990	$165	71
19071 Cetara Villa Dr	0.41mi	3/2.0	1,582 (+7%)	0mo	$249,990	$158	69
21002 Echo Manor Dr	0.66mi	3/2.0	1,513 (+3%)	0mo	$262,000	$173	64

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: -34.7%
• Equity multiple: -0.09×
• Total profit: $-95,328
• Equity at exit: $46,370

10-year hold

• IRR: -69.8%
• Equity multiple: -0.80×
• Total profit: $-156,558
• Equity at exit: $26,889

Cash invested: $87,077 (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 77447

• Home prices YoY: -31.1%
• Rents YoY: -1.6%
• Active inventory: 1791
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $2,119 medium
• Mortgage (P&I): −$1,631
• Tax est. 1.5%: −$389 /mo · $4,665/yr
• Insurance: −$130
• HOA: −$135
• Vacancy / Maint / Mgmt: −$445
• Net cashflow: $-610

Break-even live

Break-even rent $2,891

Max offer price $222,752

Occupancy floor —

Sensitivity live

Price	-10% $-395	-5% $-502	+0% $-610	+5% $-717	+10% $-825
Rent	-10% $-777	-5% $-694	+0% $-610	+5% $-526	+10% $-442
Rate	-1.0pp $-453	-0.5pp $-531	base $-610	+0.5pp $-690	+1.0pp $-772

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: $77,748
• Closing costs: $9,330
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22023 Lost Lantern Dr Hockley, TX	3.0–4.0	2.0	1601	$1,901	$1.19	0d	1	0.54mi
20313 Evergreen Cypress Dr Hockley, TX	2.0–5.0	2.0–3.5	2051	$2,353	$1.15	0d	1	0.92mi
22719 Klingamans Way Hockley, TX	3.0	2.0	1416	$1,689	$1.19	3d	1	0.94mi

HOA detail

• Monthly dues: $135 · $1,620/yr

Listing history 5 events

1. 2026-05-14
   historical
2. 2026-05-14
   listed $250,000 Active 603-char remark
3. 2026-05-07
   price $250,000
4. 2026-04-10
   price $249,990
5. 2026-04-10
   listed $262,990 Active

ⓘ 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: $25,434
• − Mortgage interest: −$17,420
• − Property taxes: −$4,665
• − Insurance: −$1,555
• − Repairs & maintenance: −$2,035
• − Management: −$2,035
• − HOA: −$1,620
• − Depreciation: −$9,047
• Taxable loss: −$12,943
• Est. tax savings @ 24.0%: +$3,106
• After-tax cash flow: $-4,211/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 · 12 photos

Good 80/100 None rehab

This single-family home is in good condition with a modern and well-maintained interior and exterior. It offers a spacious open floorplan and is move-in ready. Potential buyers and renters can appreciate the home's curb appeal and interior aesthetics with minor updates.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can increase the home's curb appeal and attract more potential buyers/renters.
• Both Adding smart home features — Smart home features can increase the home's value by making it more energy-efficient and convenient for potential buyers/renters.
• Both Upgrading the kitchen appliances — Upgrading to more modern or energy-efficient appliances can increase the home's value and appeal to potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can increase the home's curb appeal and attract more potential buyers/renters. ↑
• Both Adding smart home features — Smart home features can increase the home's value by making it more energy-efficient and convenient for potential buyers/renters. ↑
• Both Upgrading the kitchen appliances — Upgrading to more modern or energy-efficient appliances can increase the home's value and appeal to potential buyers/renters. ↑

ⓘ 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: Waller ISD
• NCES district ID: 4844430
• Math proficiency: 30% ▼ -23.00%
• Reading proficiency: 35% ▼ -11.00%
• Median HH income: $58,911
• Composite: 29.12/100
• National rank: #6593
• State rank: #532 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): 25,231
• Household income: $116,925
• Rent vs Own: 14.0% rent · 86.0% own
• Severe rent burden: 265.0

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 0.63)
• Race & ethnicity: White 44% Hispanic / Latino 41% Two or more races 16% Black 9% Asian 1%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Lithuanian 3% Slovak 1% Romanian 1%
• Foreign-born: 15% · Canada, Jamaica, Dominican Republic
• Languages at home: 69% English-only · Spanish 28% Other Indo-European 1% Vietnamese 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: ▼ -112.73%
• Current HPI: 249.6969
• Rent YoY: ▼ -1.58%
• 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

-4.9% since first listed

4 events — show timeline

• 2026-05-14 Listing Removed — HARMLS
• 2026-05-07 Price Changed $250,000 HARMLS
• 2026-04-10 Price Changed $249,990 HARMLS
• 2026-04-10 Listed $262,990 HARMLS