113 Laurel Meadow Ct

La Marque, TX 77568

$239,900F

3 bd · 2.0 ba · 1,259 sqft · Built 2008 · SingleFamily · Active · 19 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,216/mo
• Mortgage (P&I): −$1,258
• Tax + insurance: −$466
• HOA: −$33
• Vac / Maint / Mgmt: −$465
• Net cashflow: $-7/mo
• Annual: $-87/yr
• Cap rate: 6.26%
• Cash-on-cash: -0.13%
• DSCR: 0.99
• 1% rule: 0.92%
• Cash to close: $67,172

Investor read

• This is a 3-bed/2.0-bath single-family listed at $240k.
• At list price, monthly cash flow is $-7 ($-87/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (7.6% below list).
• It's been on market 19 days — a 2% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $222k (7.6% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 59/100 on livability (#1,136 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: employment D, crime F, amenities F.
• Santa Fe ISD (suburban): math 38% / reading 39% proficiency, ranked #385 of 826 in TX (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: William F Barnett El (math 59% / reading 46%, grade C-, #720 of 4,322 statewide, top 17%, 646 students, 59% FRL); Santa Fe J H (math 34% / reading 37%, grade F, #827 of 1,662 statewide, top 51%, 1,009 students, 52% FRL); Santa Fe H S (math 19% / reading 34%, grade F, #1,228 of 1,632 statewide, top 76%, 1,369 students, 47% FRL) — zoned schools average 53% FRL vs 35% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+4.0%/yr); 661 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).
• Galveston County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 5 sale attempts since 10y 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→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• This rent runs 36% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• 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?
• 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.
• 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?
• 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?
• 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?
• 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.