28910 Texas Sparrow Ln · Houston, TX 77447

$243,000

4 bd · 2.5 ba · 1,840 sqft · SingleFamily public records · 38 Days on market

Built 2024 Good condition 5,410 sqft lot $132/sqft · 14% below area Est $281k · 14% under $100/mo HOA · 4% 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 +13.6/15.0
• Cash flow +7.7/30.0
• 1% rule +4.8/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Schools +2.9/10.0
• Rent growth +2.1/5.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Discover elevated living at 28910 Texas Sparrow Lane, Hockley, TX 77447. This stunning two-story residence offers 4 spacious bedrooms and 2.5 beautifully appointed baths, thoughtfully designed for both refined comfort and everyday functionality. Step inside to an expansive open-concept layout filled with natural light, soaring ceilings, and seamless flow between the living, dining, and kitchen spaces.

Key facts

• 5,410 sq ft lot
• 2 garage spots
• Built 2024

Property features AI

Finance

• HOA & community: Association: Grand Prairie; Annual association fee of $1,200; Community features include curbs

Exterior

• Parking: Attached 2-car garage
• Security: Prewired security; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; Full ownership; Slab foundation; Composition roof; Built in 2024
• Construction: Brick, vinyl siding, and wood siding exterior
• Exterior features: Fully fenced private yard; Back yard fencing; Subdivision lot

Interior

• Kitchen: Dishwasher; Electric oven; Gas cooktop; Gas range; Microwave; Garbage disposal; Refrigerator; ENERGY STAR qualified appliances
• Bedrooms: Primary bedroom on the first floor; Additional bedrooms on the second floor
• Flooring: Carpet; Plank flooring; Vinyl flooring
• Bathrooms: 2 full bathrooms; 1 half bathroom; Primary bathroom on the first floor; Additional bathroom on the second floor
• Heating & cooling: Central heating (gas); Central air conditioning (electric); Has heating and cooling
• Interior features: Entrance foyer; Kitchen/family room combo; Kitchen/dining combo; Pantry; Quartz counters; Wired for sound; Programmable thermostat; Insulated doors; Low emissivity windows
• Laundry & utility: Washer and dryer included; Washer hookup; Electric dryer hookup; Utility room on the first floor

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $243k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-279 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $194k (20.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (2.0% below list).
• Recommended offer: $194k (20.3% below list) — sets the bar for cash-flow.
• Cap rate 4.9% 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.
• 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: I T Holleman El (math 33% / reading 31%, grade F, #2,268 of 4,322 statewide, top 55%, 688 students, 70% 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); 1790 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $7k 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 38 days — a 3% lower offer ($236k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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 3.4% of price.

Recommended offer $193,664 (20.3% 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 38 days. Have you received any prior offers? Is the seller open to a 20% 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: 0.98% ✗
• Cap rate: 4.91%
• Cash-on-cash: -4.93%
• DSCR: 0.78
• GRM: 8.5

CMA / ARV

• ARV (median comp): $281,280
• List price: $243,000
• Delta: -13.61%
• 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
27242 Wheat Falls Ln	0.21mi	3/2.0 (-1)	1,908 (+4%)	0mo	$281,640	$148	77
29067 Bison Haven Dr	0.22mi	4/2.5	2,083 (+13%)	0mo	$305,290	$147	67
28911 Rustic Robin Ln	0.48mi	3/2.0 (-1)	1,880 (+2%)	0mo	$298,990	$159	67
16847 Spotted Oak Dr	0.22mi	4/2.0	2,066 (+12%)	0mo	$259,440	$126	67
28534 Golden Hay Dr	0.24mi	4/2.0	2,066 (+12%)	0mo	$248,000	$120	66
16839 Old Wagon Way	0.27mi	4/2.0	2,066 (+12%)	1mo	$234,990	$114	64
17407 Sage Run Dr	0.67mi	4/2.5	1,785 (-3%)	0mo	$276,900	$155	63
16122 Domestic Dove Way	0.63mi	4/2.0	1,776 (-4%)	0mo	$250,990	$141	62
29203 Dandelion Sky Dr	0.73mi	4/2.5	1,785 (-3%)	1mo	$279,900	$157	60
16311 Golden Corral Dr	0.56mi	3/2.5 (-1)	1,749 (-5%)	1mo	$326,990	$187	60
29023 Farmhouse Estates Dr	0.69mi	4/2.0	1,688 (-8%)	0mo	$269,240	$160	52
29123 Dandelion Sky Dr	0.71mi	4/2.0	1,582 (-14%)	1mo	$273,900	$173	41

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: -29.1%
• Equity multiple: 0.06×
• Total profit: $-63,812
• Equity at exit: $36,232

10-year hold

• IRR: -56.1%
• Equity multiple: -0.53×
• Total profit: $-104,096
• Equity at exit: $21,010

Cash invested: $68,040 (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: 1790
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,382 medium
• Mortgage (P&I): −$1,274
• Tax from tax record: −$685 /mo · $8,222/yr
• Insurance: −$101
• HOA: −$100
• Vacancy / Maint / Mgmt: −$500
• Net cashflow: $-279

Break-even live

Break-even rent $2,735

Max offer price $193,664

Occupancy floor —

Sensitivity live

Price	-10% $-142	-5% $-211	+0% $-279	+5% $-348	+10% $-417
Rent	-10% $-467	-5% $-373	+0% $-279	+5% $-185	+10% $-91
Rate	-1.0pp $-157	-0.5pp $-217	base $-279	+0.5pp $-342	+1.0pp $-406

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: $60,750
• Closing costs: $7,290
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16722 Old Wagon Way Hockley, TX	4.0	2.0	1880	$1,790	$0.95	45d	1	0.25mi
29023 Pearl Barley Way Unit 3656 Hockley, TX	4.0	2.5	2395	$2,300	$0.96	25d	1	0.30mi
16315 Mesquite Field Dr Hockley, TX	4.0	2.0	1500	$2,600	$1.73	45d	1	0.51mi

HOA detail

• Monthly dues: $100 · $1,200/yr

Listing history 24 events

1. 2026-06-21
   days on market $243,000 Active 38 DOM
2. 2026-06-18
   days on market $243,000 Active 35 DOM
3. 2026-06-17
   days on market $243,000 Active 34 DOM
4. 2026-06-16
   days on market $243,000 Active 33 DOM
5. 2026-06-15
   days on market $243,000 Active 32 DOM
6. 2026-06-13
   days on market $243,000 Active 30 DOM
7. 2026-06-09
   days on market $243,000 Active 26 DOM
8. 2026-06-08
   days on market $243,000 Active 25 DOM
9. 2026-06-07
   days on market $243,000 Active 24 DOM
10. 2026-06-04
    days on market $243,000 Active 21 DOM
11. 2026-06-03
    days on market $243,000 Active 20 DOM
12. 2026-06-02
    days on market $243,000 Active 19 DOM
13. 2026-06-01
    days on market $243,000 Active 18 DOM
14. 2026-05-31
    days on market $243,000 Active 17 DOM
15. 2026-05-14
    historical
16. 2026-05-14
    listed $243,000 Active 404-char remark
17. 2026-04-07
    listed $245,000 Active
18. 2026-04-07
    historical
19. 2026-04-07
    historical $2,150
20. 2026-03-06
    listed $2,150
21. 2026-03-05
    listed $250,000 Active
22. 2026-03-05
    historical
23. 2026-02-17
    price $260,000
24. 2026-02-13
    listed $245,000 Active

ⓘ 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: $8,222 · $685/mo
• Projected year-2 tax: $8,222 · $685/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $28,579
• − Mortgage interest: −$13,612
• − Property taxes: −$8,222
• − Insurance: −$1,215
• − Repairs & maintenance: −$2,286
• − Management: −$2,286
• − HOA: −$1,200
• − Depreciation: −$7,069
• Taxable loss: −$7,311
• Est. tax savings @ 24.0%: +$1,755
• After-tax cash flow: $-1,597/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

Good 75/100 Cosmetic rehab

This two-story home is in good condition with a good condition score of 75. It offers a good investment opportunity with potential for cosmetic updates to enhance its resale and rental value.

Value-add opportunities

• Both Painting — Fresh paint can enhance curb appeal and interior aesthetics
• Both Lighting — Upgrading lighting fixtures can improve ambiance and energy efficiency
• Both Flooring — Replacing worn-out flooring can increase the home's appeal and value
• Resale Kitchen appliances — Modern appliances can attract more buyers
• Resale Bathroom fixtures — Updated fixtures can enhance the home's appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both Painting — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Lighting — Upgrading lighting fixtures can improve ambiance and energy efficiency ↑
• Both Flooring — Replacing worn-out flooring can increase the home's appeal and value ↑
• Resale Kitchen appliances — Modern appliances can attract more buyers ↑
• Resale Bathroom fixtures — Updated fixtures can enhance the home's appeal and value ↑

ⓘ 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

-0.8% since first listed

10 events — show timeline

• 2026-05-14 Listed $243,000 HARMLS
• 2026-05-14 Listing Removed — HARMLS
• 2026-04-07 Listing Removed — HARMLS
• 2026-04-07 Listed $245,000 HARMLS
• 2026-04-07 Rental Removed $2,150 HARMLS
• 2026-03-06 Listed for Rent $2,150 HARMLS
• 2026-03-05 Listing Removed — HARMLS
• 2026-03-05 Listed $250,000 HARMLS
• 2026-02-17 Price Changed $260,000 HARMLS
• 2026-02-13 Listed $245,000 HARMLS