605 Kathy St · Conroe, TX 77301

$70,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 14 Days on market

Built 2026 Poor condition

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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
• Schools +5.1/10.0
• Livability +3.7/5.0
• Rent growth +2.9/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful Brand New 2023 home available in Conroe Estates! Call today to schedule a tour of this 3 bed, 2 bath, 1,216 sqft home! * Photos are of model home. Actual colors and finishes may vary.

Key facts

• Built 2026
• Listed 13 days

Property features AI

Finance

• Financial info: List price $70,900

Exterior

• Home design: Single-section home; 3 bed, 2 bath plan; Spec inventory (new construction)
• Construction: Built in 2026
• Exterior features: Living area 1216

Interior

• Kitchen: Includes dishwasher, disposer, and refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: Dishwasher; Disposal; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $71k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $703 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $71k).
• Cap rate 18.2% vs local median 3.1% in Conroe — 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 (#169 in TX, #4,447 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, amenities B; Watch: schools D+, commute F, health & safety F.
• Conroe ISD (other): math 57% / reading 57% proficiency, ranked #69 of 826 in TX (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+1.4%/yr); 486 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $490 of loan paydown is wiped out by about $2k 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 + 1.4% rent growth), your $20k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 2.13% ✓
• Cap rate: 18.19%
• Cash-on-cash: 42.50%
• DSCR: 2.89
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.43% rent growth · sell at horizon

5-year hold

• IRR: 37.4%
• Equity multiple: 2.56×
• Total profit: $30,962
• Equity at exit: $10,571

10-year hold

• IRR: 43.2%
• Equity multiple: 4.80×
• Total profit: $75,372
• Equity at exit: $6,130

Cash invested: $19,852 (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 77301

• Home prices YoY: -8.4%
• Rents YoY: 1.4%
• Active inventory: 486
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,510 high
• Mortgage (P&I): −$372
• Tax est. 1.5%: −$89 /mo · $1,064/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $703

Break-even live

Break-even rent $620

Max offer price $70,900

Occupancy floor 48%

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: $17,725
• Closing costs: $2,127
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 Kathy St Unit KA605 Conroe, TX	3.0	2.0	1216	$1,399	$1.15	13d	1	0.03mi
204 Peggy St Unit PG204 Conroe, TX	3.0	2.0	1216	$1,399	$1.15	20d	1	0.14mi
113 Betty St Unit BE113 Conroe, TX	3.0	2.0	1216	$1,399	$1.15	20d	1	0.27mi
115 Lillian St Unit LL115 Conroe, TX	3.0	2.0	1120	$1,399	$1.25	5d	1	0.75mi
1619 N Frazier St Conroe, TX	2.0	2.0	980	$1,309	$1.34	43d	1	1.06mi
1619 N Frazier St Conroe, TX	1.0–2.0	1.0–2.0	824	$1,895	$2.30	7d	10	1.06mi
900 Holly Dr Conroe, TX	2.0	1.0	850	$1,095	$1.29	13d	3	1.07mi
900 Holly Dr Unit 16 Conroe, TX	2.0	1.0	850	$1,095	$1.29	43d	1	1.07mi
2219 N Frazier St Conroe, TX	2.0	2.0	1023	$1,100	$1.08	43d	1	1.10mi
2301 N Frazier St Conroe, TX	2.0	2.0	1042	$1,250	$1.20	43d	1	1.11mi
901 Wilson Rd Unit 3228 Conroe, TX	3.0	2.0	1295	$1,481	$1.14	2d	1	1.14mi
901 Wilson Rd Unit 2162 Conroe, TX	2.0	2.0	917	$1,119	$1.22	7d	1	1.14mi
901 Wilson Rd Unit 958 Conroe, TX	2.0	2.0	917	$1,143	$1.25	10d	1	1.14mi
901 Wilson Rd Unit 934 Conroe, TX	3.0	2.0	1295	$1,513	$1.17	10d	1	1.14mi
901 Wilson Rd Unit 2228 Conroe, TX	2.0	2.0	917	$1,111	$1.21	2d	1	1.14mi
907 Wilson Rd Conroe, TX	3.0	2.0	1295	$1,760	$1.36	43d	1	1.14mi
901 Wilson Rd Unit 2047 Conroe, TX	2.0	2.0	917	$1,103	$1.20	11d	1	1.14mi
901 Wilson Rd Unit 3047 Conroe, TX	3.0	2.0	1295	$1,524	$1.18	11d	1	1.14mi
1101 Wilson Rd Conroe, TX	1.0–2.0	1.0	720	$1,190	$1.65	15d	13	1.25mi
2461 N Frazier St Conroe, TX	2.0	2.0	1025	$1,025	$1.00	43d	1	1.26mi
511 N 3rd St Conroe, TX	3.0	1.0	1100	$1,695	$1.54	3d	1	1.35mi
2020 Plantation Dr Conroe, TX	1.0–2.0	1.0–2.0	779	$1,180	$1.51	1d	18	1.36mi
2200 Plantation Dr Conroe, TX	1.0–3.0	1.0–2.0	1040	$1,773	$1.70	1d	18	1.41mi
1206 North Loop 336 W Conroe, TX	2.0	1.0	788	$1,188	$1.51	43d	1	1.45mi
1200 North Loop 336 W Unit 426 Conroe, TX	2.0	2.0	788	$1,063	$1.35	10d	1	1.47mi
1200 North Loop 336 W Unit 2162 Conroe, TX	2.0	2.0	788	$1,039	$1.32	7d	1	1.47mi
1200 North Loop 336 W Unit 1233 Conroe, TX	3.0	2.0	1100	$1,353	$1.23	10d	1	1.47mi
1200 North Loop 336 W Unit 2228 Conroe, TX	2.0	2.0	788	$1,031	$1.31	2d	1	1.47mi
1200 North Loop 336 W Unit 3228 Conroe, TX	3.0	2.0	1100	$1,321	$1.20	2d	1	1.47mi
707 N Frazier St Conroe, TX	2.0	2.0	1159	$1,245	$1.07	43d	1	1.48mi

Listing history 10 events

1. 2026-06-13
   days on market $70,900 Active 14 DOM
2. 2026-06-09
   days on market $70,900 Active 10 DOM
3. 2026-06-08
   days on market $70,900 Active 9 DOM
4. 2026-06-07
   days on market $70,900 Active 8 DOM
5. 2026-06-04
   days on market $70,900 Active 5 DOM
6. 2026-06-03
   days on market $70,900 Active 4 DOM
7. 2026-06-02
   days on market $70,900 Active 3 DOM
8. 2026-06-01
   days on market $70,900 Active 2 DOM
9. 2026-05-31
   remarks 196-char remark
10. 2026-05-31
    listed $70,900 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 22 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,122
• − Mortgage interest: −$3,972
• − Property taxes: −$1,064
• − Insurance: −$354
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − Depreciation: −$2,063
• Taxable income: $7,770
• Est. tax owed @ 24.0%: −$1,865
• After-tax cash flow: $6,572/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 · 1 photo

Poor 20/100 Extensive rehab

No images available for assessment. The property is a brand new 2023 manufactured home with no visible damage or repairs needed, but lacks photos of key areas.

Schools (NCES district)

• District: Conroe ISD
• NCES district ID: 4815000
• Math proficiency: 57% ▼ -6.00%
• Reading proficiency: 57% ▼ -1.00%
• Median HH income: $71,541
• Composite: 50.65/100
• National rank: #1833
• State rank: #69 of 826 in TX

Livability — Conroe

• Score: 74/100
• State rank: #169
• US rank: #4447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Conroe, TX
• County: Montgomery County · 663,713 people
• City population: 205,417
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 37,769
• Household income: $66,475
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1256.0

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: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: Hispanic / Latino 52% White 31% Two or more races 19% Black 13% Asian 2% Native American 2%
• Hispanic origin (detail): Mexican 37%
• Common ancestry: Lithuanian 2% Slovak 1% Romanian 1%
• Foreign-born: 27% · Canada, Jamaica
• Languages at home: 51% English-only · Spanish 45% Other Asian/Pacific 2%

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: ▼ -25.51%
• Current HPI: 278.6662
• Rent YoY: ▲ 1.43%
• 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