188 Grammar Rd · Pearland, TX 77047

$260,000

3 bd · 2.0 ba · 1,912 sqft · SingleFamily public records · 44 Days on market

Built 1956 0.31 ac lot $136/sqft · 10% below area Est $288k · 10% under ↓ 20% since listing

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Why this score? — see what drove the C- 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 +19.0/30.0
• ARV discount +11.8/15.0
• DSCR +6.0/10.0
• 1% rule +4.5/10.0
• Livability +4.0/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 3BR/2BA home offering 1,912 sq ft of living space on over 1/4 acre. Features include a huge living room, bonus game room/guest room, and a private pool. Nestled at the end of a quiet dead-end road providing added privacy. No flooding history. Property is zoned for residential/commercial use, offering flexibility for a home-based or small business (buyer to verify permitted uses). Generous yard space ideal for outdoor enjoyment with a versatile layout and room to entertain.

Key facts

• Private pool
• Generous yard space
• Bonus game room

Tags

• PRIVATE POOL
• BONUS GAME ROOM
• GENEROUS YARD SPACE

Property features AI

Finance

• Other: Seller disclosure available

Exterior

• Utilities: Septic tank
• Home design: Residential property; Single-story (first-floor primary and bedrooms)
• Construction: Brick construction; Built in 1956; Slab foundation; Composition roof
• Exterior features: Private gunite pool; Lot largely cleared

Interior

• Bedrooms: Primary bedroom on the first floor, approximately 16 x 16; Bedroom on the first floor, approximately 14 x 14; Bedroom on the first floor, approximately 14 x 14
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: One fireplace; Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (5.1% below list).
• Recommended offer: $247k (5.1% below list) — sets the bar for 1% rule.
• Cap rate 7.5% vs local median 3.0% in Pearland — 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 81/100 on livability (#32 in TX, #1,539 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, crime A; Watch: amenities D-, commute F.
• Houston ISD (urban): math 27% / reading 35% proficiency, ranked #593 of 826 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lawson Middle (math 21% / reading 27%, grade F, #1,301 of 1,662 statewide, top 79%, 1,274 students, 96% FRL); Worthing H S (math 22% / reading 21%, grade F, #1,377 of 1,632 statewide, top 85%, 827 students, 96% FRL) — zoned schools average 96% FRL vs 71% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.2%/yr); 280 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 38% of the median local income ($79k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 44 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 2 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: built in 1956 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $246,667 (5.1% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.95% ✗
• Cap rate: 7.54%
• Cash-on-cash: 4.47%
• DSCR: 1.20
• GRM: 8.8

CMA / ARV

• ARV (median comp): $287,761
• List price: $260,000
• Delta: -9.65%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
230 Grammar Rd	0.14mi	3/2.0	1,888 (-1%)	14mo	$250,000	$132	79
14111 Bridgeport	0.35mi	3/2.5	1,806 (-6%)	1mo	$334,000	$185	71
14109 Bridgeport	0.36mi	3/2.5	1,806 (-6%)	3mo	$334,000	$185	70
14113 Bridgeport	0.36mi	3/2.5	1,806 (-6%)	3mo	$334,000	$185	69
14113A Bridgeport	0.35mi	3/2.5	1,806 (-6%)	5mo	$334,000	$185	69
402 Grammar Rd	0.24mi	3/2.0	1,651 (-14%)	17mo	$299,900	$182	52

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: -12.6%
• Equity multiple: 0.56×
• Total profit: $-32,140
• Equity at exit: $38,767

10-year hold

• IRR: -8.5%
• Equity multiple: 0.54×
• Total profit: $-33,849
• Equity at exit: $22,480

Cash invested: $72,800 (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 77047

• Home prices YoY: -10.1%
• Rents YoY: -0.2%
• Active inventory: 280
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,467 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$206 /mo · $2,471/yr
• Insurance: −$108
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $271

Break-even live

Break-even rent $2,124

Max offer price $260,000

Occupancy floor 84%

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1930 Kingsley Dr Pearland, TX	1.0–3.0	1.0–3.0	1123	$2,426	$2.16	1d	22	1.27mi
12635 Shadow Creek Pkwy Pearland, TX	1.0–2.0	1.0–2.0	1019	$3,344	$3.28	1d	33	1.32mi
13013 Fair Breeze Ln Pearland, TX	3.0	2.0	1471	$2,549	$1.73	43d	1	1.36mi
14435 Acuna Ln Houston, TX	3.0	2.0	1496	$1,805	$1.21	43d	1	1.41mi
12900 Shadow Creek Pkwy Pearland, TX	1.0–2.0	1.0–2.0	964	$2,318	$2.40	1d	24	1.43mi

Listing history 18 events

1. 2026-06-18
   days on market $260,000 Active 44 DOM
2. 2026-06-17
   days on market $260,000 Active 43 DOM
3. 2026-06-16
   days on market $260,000 Active 42 DOM
4. 2026-06-15
   days on market $260,000 Active 41 DOM
5. 2026-06-13
   days on market $260,000 Active 39 DOM
6. 2026-06-10
   days on market $260,000 Active 35 DOM
7. 2026-06-08
   days on market $260,000 Active 34 DOM
8. 2026-06-07
   days on market $260,000 Active 33 DOM
9. 2026-06-04
   days on market $260,000 Active 30 DOM
10. 2026-06-01
    days on market $260,000 Active 27 DOM
11. 2026-05-31
    days on market $260,000 Active 26 DOM
12. 2026-05-05
    historical
13. 2026-05-05
    listed $260,000 Active 486-char remark
14. 2026-03-17
    price $280,000
15. 2026-01-09
    price $310,000
16. 2025-12-26
    listed $325,000 Active
17. 2017-05-22
    soldstatus
18. 1995-03-24
    soldstatus

ⓘ 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: $2,471 · $206/mo
• Projected year-2 tax: $4,758 · $396/mo
• Expected delta: +$2,287/yr (+$191/mo · 92.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 23 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $29,600
• − Mortgage interest: −$14,564
• − Property taxes: −$2,471
• − Insurance: −$1,300
• − Repairs & maintenance: −$2,368
• − Management: −$2,368
• − Depreciation: −$7,564
• Taxable loss: −$1,035
• Est. tax savings @ 24.0%: +$248
• After-tax cash flow: $3,500/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.

Schools (NCES district)

• District: Houston ISD
• NCES district ID: 4823640
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $46,054
• Composite: 26.63/100
• National rank: #7173
• State rank: #593 of 826 in TX

Livability — Pearland

• Score: 81/100
• State rank: #32
• US rank: #1539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harris County · 4,702,590 people
• City population: 142,397
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 34,987
• Household income: $78,538
• Rent vs Own: 27.6% rent · 72.4% own
• Severe rent burden: 1109.0

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 0.58)
• Race & ethnicity: Black 57% Hispanic / Latino 29% Two or more races 15% White 6% Asian 3% Pacific Islander 1%
• Hispanic origin (detail): Mexican 24% Puerto Rican 1%
• Common ancestry: Lithuanian 1%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 70% English-only · Spanish 23% Vietnamese 1% Other Indo-European 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: ▼ -26.76%
• Current HPI: 239.2287
• Rent YoY: ▼ -0.21%
• 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

-20.0% since first listed

7 events — show timeline

• 2026-05-05 Listed $260,000 HARMLS
• 2026-05-05 Listing Removed — HARMLS
• 2026-03-17 Price Changed $280,000 HARMLS
• 2026-01-09 Price Changed $310,000 HARMLS
• 2025-12-26 Listed $325,000 HARMLS
• 2017-05-22 Sold (Public Records) — Public Records
• 1995-03-24 Sold (Public Records) — Public Records

Property tax history

+8.4%/yr

Latest (2025): $2,471 · +12.3% YoY. Source: county tax records.