32583B Plan · Splendora, TX 77372

$99,900

3 bd · 2.0 ba · 1,440 sqft · Manufactured · 393 Days on market

Good condition $69/sqft · 53% below area

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Appreciation +1.8/10.0

Listing remarks MLS

Mid size economical to own family home with sprawling living room, beautiful open kitchen with island, separate utility room, large bedrooms, walk-in closets and full baths. Gorgeous Vinyl exterior siding with dormer and wood accent around the front door.

Key facts

• Utility room
• Walk-in closets
• Wood accent

Tags

• OPEN KITCHEN
• UTILITY ROOM
• WALK-IN CLOSETS
• VINYL EXTERIOR SIDING
• WOOD ACCENT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $100k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $689 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.6% vs local median 5.2% in Splendora — 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 62/100 on livability (#911 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, amenities F, commute F.
• Splendora ISD (rural): math 25% / reading 31% proficiency, ranked #648 of 826 in TX (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 548 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 13,259 units permitted in Montgomery County in 2024 (1,402 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Montgomery County population projected at +65% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 393 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 393 days. Have you received any prior offers? Is the seller open to a 12% 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 F-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. 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.
6. 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.
7. 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: 1.75% ✓
• Cap rate: 14.57%
• Cash-on-cash: 29.57%
• DSCR: 2.32
• GRM: 4.8

CMA / ARV

• ARV (median comp): $210,326
• List price: $99,900
• Delta: -52.50%
• Verdict: UNDERPRICED
• Comps: 3 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 24.1%
• Equity multiple: 1.99×
• Total profit: $27,741
• Equity at exit: $14,895

10-year hold

• IRR: 31.9%
• Equity multiple: 3.89×
• Total profit: $80,795
• Equity at exit: $8,638

Cash invested: $27,972 (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 77372

• Home prices YoY: -2.1%
• Active inventory: 548
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,746 medium
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $689

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 56%

Sensitivity live

Price	-10% $758	-5% $724	+0% $689	+5% $655	+10% $620
Rent	-10% $551	-5% $620	+0% $689	+5% $758	+10% $827
Rate	-1.0pp $740	-0.5pp $715	base $689	+0.5pp $663	+1.0pp $637

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25982 Stillbrook Ln Splendora, TX	3.0	2.0	1090	$1,225	$1.12	0d	1	0.87mi
25625 Chestnut Ln Splendora, TX	3.0	2.0	1572	$1,675	$1.07	25d	1	1.06mi
26471 Joy Village Dr Splendora, TX	2.0	2.0	1050	$1,350	$1.29	23d	1	1.32mi
25687 Roy Rogers Ct Splendora, TX	4.0	3.0	1607	$1,895	$1.18	5d	1	1.34mi

Listing history 16 events

1. 2026-06-21
   days on market $99,900 Active 393 DOM
2. 2026-06-18
   days on market $99,900 Active 390 DOM
3. 2026-06-17
   days on market $99,900 Active 389 DOM
4. 2026-06-16
   days on market $99,900 Active 388 DOM
5. 2026-06-15
   days on market $99,900 Active 387 DOM
6. 2026-06-13
   days on market $99,900 Active 385 DOM
7. 2026-06-13
   days on market $99,900 Active 384 DOM
8. 2026-06-09
   days on market $99,900 Active 381 DOM
9. 2026-06-08
   days on market $99,900 Active 380 DOM
10. 2026-06-07
    days on market $99,900 Active 379 DOM
11. 2026-06-04
    days on market $99,900 Active 376 DOM
12. 2026-06-03
    days on market $99,900 Active 375 DOM
13. 2026-06-02
    days on market $99,900 Active 374 DOM
14. 2026-06-01
    days on market $99,900 Active 373 DOM
15. 2026-05-31
    days on market $99,900 Active 372 DOM
16. 2025-05-24
    listed $99,900 Active 255-char remark

    Show marketing remark (255 chars)

    Mid size economical to own family home with sprawling living room, beautiful open kitchen with island, separate utility room, large bedrooms, walk-in closets and full baths. Gorgeous Vinyl exterior siding with dormer and wood accent around the front door.

ⓘ 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: $20,957
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,677
• − Management: −$1,677
• − Depreciation: −$2,906
• Taxable income: $7,104
• Est. tax owed @ 24.0%: −$1,705
• After-tax cash flow: $6,567/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 Cosmetic rehab

This home is in good condition with a modern kitchen and a well-maintained exterior. It has a good potential for increasing its value with some minor updates.

Value-add opportunities

• Both Painting the exterior siding — Fresh paint can enhance curb appeal and property value.
• Both Landscaping the front yard — A well-maintained front yard can improve curb appeal and attract potential buyers/tenants.
• Both Adding a small outdoor seating area — A small outdoor seating area can increase the appeal of the home and provide a space for relaxation and entertaining guests.
• Both Upgrading the kitchen appliances — Upgrading the kitchen appliances can increase the home's value and appeal to potential buyers/tenants.
• Both Adding a smart home system — A smart home system can increase the home's value and appeal to potential buyers/tenants by providing convenience and energy efficiency.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior siding — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping the front yard — A well-maintained front yard can improve curb appeal and attract potential buyers/tenants. ↑
• Both Adding a small outdoor seating area — A small outdoor seating area can increase the appeal of the home and provide a space for relaxation and entertaining guests. ↑
• Both Upgrading the kitchen appliances — Upgrading the kitchen appliances can increase the home's value and appeal to potential buyers/tenants. ↑
• Both Adding a smart home system — A smart home system can increase the home's value and appeal to potential buyers/tenants by providing convenience and energy efficiency. ↑

ⓘ 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: Splendora ISD
• NCES district ID: 4841070
• Math proficiency: 25% ▼ -8.00%
• Reading proficiency: 31% ▼ -1.00%
• Median HH income: $54,166
• Composite: 24.92/100
• National rank: #7572
• State rank: #648 of 826 in TX

Livability — Splendora

• Score: 62/100
• State rank: #911
• US rank: #16335

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment C+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Splendora, TX
• County: Montgomery County · 663,713 people
• City population: 14,367
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 14,367
• Household income: $79,085
• Rent vs Own: 18.7% rent · 81.3% own
• Severe rent burden: 135.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 713,896 people
• By 2030: 805,263 · +12.8%
• By 2040: 992,708 · +39.1%
• By 2050: 1,179,590 · +65.2%
• By 2075: 1,628,084 · +128.1%
• By 2100: 1,937,880 · +171.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 36% Two or more races 9% Native American 1%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Lithuanian 4% Italian 2% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 71% English-only · Spanish 28%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.3%
• 2008→2024 swing: +7.2pp toward D · 2008: -52.7pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+43.8 2016: R+51.4 2012: R+60.7 2008: R+52.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.47%
• Current HPI: 306.9962
• Rent YoY: —
• 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

• 2025-05-24 Listed $99,900 Zillow