723 Salto Shipwreck Ln · Crosby, TX 77532

$259,990

4 bd · 2.0 ba · 1,922 sqft · Land · 48 Days on market

Built 2026 $54/mo HOA · 2% of rent ↓ 12% since listing

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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).

• Cash flow +19.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +4.4/10.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner's suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations to family members and guests.

Key facts

• Central game room
• Attached bathroom
• Walk-in closet

Tags

• FIRST FLOOR LAYOUT
• OWNER'S SUITE
• ATTACHED BATHROOM
• WALK-IN CLOSET
• CENTRAL GAME ROOM
• SECONDARY BEDROOMS

Property features AI

Finance

• HOA & community: Community managed by Crest Management; Annual association fee of $650

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: New construction residential home (under construction); Slab foundation
• Construction: Brick exterior; Composition roof; Built in 2026
• Exterior features: Back yard fencing; Fence

Interior

• Kitchen: Dishwasher; Electric oven and electric range; Gas oven and gas range
• Bedrooms: Primary bedroom on the first floor (13 x 15); Multiple secondary bedrooms on the second floor (10 x 11, 10 x 10, 10 x 10)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric and gas); Central air conditioning (electric and gas)
• Interior features: Kitchen and family room open to each other; 11 total rooms
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup; Utility room on the first floor

🏗️ New construction. The $259,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $261,917.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $260k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/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 $246k (5.3% below list).
• Recommended offer: $246k (5.3% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 4.8% in Crosby — 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 59/100 on livability (#1,121 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: amenities F, commute F, employment F.
• Crosby ISD (rural): math 39% / reading 40% proficiency, ranked #369 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crosby Middle (math 36% / reading 37%, grade F, #786 of 1,662 statewide, top 48%, 1,549 students, 60% FRL); Highpoint School East (Crosby) (20 students, 80% FRL) — zoned schools average 70% FRL vs 50% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.5%/yr); 1172 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 32% of the median local income ($92k/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 48 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $14k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $246,327 (5.3% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.94% ✗
• Cap rate: 7.71%
• Cash-on-cash: 5.05%
• DSCR: 1.22
• GRM: 8.9

CMA / ARV

• ARV (median comp): $261,917
• List price: $259,990
• Delta: -0.74%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.48% rent growth · sell at horizon

5-year hold

• IRR: -10.1%
• Equity multiple: 0.64×
• Total profit: $-26,558
• Equity at exit: $39,053

10-year hold

• IRR: -2.8%
• Equity multiple: 0.82×
• Total profit: $-12,856
• Equity at exit: $22,646

Cash invested: $73,337 (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 77532

• Home prices YoY: -28.6%
• Rents YoY: 1.5%
• Active inventory: 1172
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $2,463 medium
• Mortgage (P&I): −$1,374
• Tax from tax record: −$101 /mo · $1,207/yr
• Insurance: −$109
• HOA: −$54
• Vacancy / Maint / Mgmt: −$517
• Net cashflow: $309

Break-even live

Break-even rent $2,072

Max offer price $261,917

Occupancy floor 82%

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: $65,479
• Closing costs: $7,858
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 Fishhawk Way Crosby, TX	3.0	2.0	1369	$1,863	$1.36	4d	1	1.07mi
6006 Lovage Ave Crosby, TX	4.0	2.5	2261	$2,055	$0.91	21d	1	1.41mi

HOA detail

• Monthly dues: $54 · $648/yr

Listing history 24 events

1. 2026-06-18
   days on market $259,990 Active 48 DOM

   Show marketing remark (430 chars)

   On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner's suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations to family members and guests.

2. 2026-06-18
   price $259,990 Active 47 DOM

   Show marketing remark (430 chars)

   On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner's suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations to family members and guests.

3. 2026-06-17
   days on market $258,290 Active 47 DOM
4. 2026-06-16
   days on market $258,290 Active 46 DOM
5. 2026-06-15
   remarks 652-char remark
6. 2026-06-15
   days on market $258,290 Active 45 DOM
7. 2026-06-13
   days on market $258,290 Active 43 DOM
8. 2026-06-09
   days on market $258,290 Active 39 DOM

   Show marketing remark (430 chars)

   On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner's suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations to family members and guests.

9. 2026-06-08
   pricedays on market $258,290 Active 38 DOM
10. 2026-06-07
    days on market $249,990 Active 37 DOM
11. 2026-06-04
    days on market $249,990 Active 34 DOM
12. 2026-06-03
    days on market $249,990 Active 33 DOM
13. 2026-06-02
    days on market $249,990 Active 32 DOM
14. 2026-06-01
    days on market $249,990 Active 31 DOM
15. 2026-05-31
    days on market $249,990 Active 30 DOM

    Show marketing remark (430 chars)

    On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner's suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations to family members and guests.

16. 2026-05-19
    price $262,740 620-char remark

    Show marketing remark (430 chars)

    On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner's suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations to family members and guests.

17. 2026-05-12
    price $259,190 430-char remark

    Show marketing remark (430 chars)

    On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner's suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations to family members and guests.

18. 2026-05-11
    price $259,190 620-char remark
19. 2026-05-08
    price $254,990 430-char remark

    Show marketing remark (430 chars)

    On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner's suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations to family members and guests.

20. 2026-05-07
    price $254,990 620-char remark
21. 2026-05-01
    price $274,390 430-char remark

    Show marketing remark (430 chars)

    On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner's suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations to family members and guests.

22. 2026-04-28
    price $270,340 430-char remark

    Show marketing remark (430 chars)

    On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner's suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations to family members and guests.

23. 2026-04-28
    listed $274,390 Active 620-char remark

    Show marketing remark (430 chars)

    On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner's suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations to family members and guests.

24. 2026-04-26
    listed $294,990 Active 430-char remark

    Show marketing remark (430 chars)

    On the first floor of this spacious two-story home is a convenient and modern layout seamlessly connecting the kitchen, dining room and family room together. In a private corner is the tranquil owner's suite with an attached bathroom and walk-in closet. Upstairs is a sprawling central game room made for gatherings of all sizes, along with three secondary bedrooms to provide sleeping accommodations to family members and guests.

ⓘ 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: $1,207 · $101/mo
• Projected year-2 tax: $4,758 · $396/mo
• Expected delta: +$3,551/yr (+$296/mo · 294.2%)

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

Taxation est. · year 1

• Rental income: $29,559
• − Mortgage interest: −$14,671
• − Property taxes: −$1,207
• − Insurance: −$1,310
• − Repairs & maintenance: −$2,365
• − Management: −$2,365
• − HOA: −$648
• − Depreciation: −$7,619
• Taxable loss: −$626
• Est. tax savings @ 24.0%: +$150
• After-tax cash flow: $3,855/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: Crosby ISD
• NCES district ID: 4815750
• Math proficiency: 39% ▼ -13.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $61,079
• Composite: 35.14/100
• National rank: #5012
• State rank: #369 of 826 in TX

Livability — Crosby

• Score: 59/100
• State rank: #1121
• US rank: #19783

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harris County · 4,702,590 people
• City population: 33,780
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 33,780
• Household income: $92,201
• Rent vs Own: 13.9% rent · 86.1% own
• Severe rent burden: 382.0

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 0.60)
• Race & ethnicity: White 54% Hispanic / Latino 31% Two or more races 16% Black 9%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 4% Romanian 3% Italian 2%
• Foreign-born: 10% · Canada
• Languages at home: 78% English-only · Spanish 21%

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: ▼ -105.63%
• Current HPI: 264.0126
• Rent YoY: ▲ 1.48%
• 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

-11.9% since first listed

18 events — show timeline

• 2026-06-18 Price Changed $259,990 HARMLS
• 2026-06-18 Price Changed $259,990 Zillow
• 2026-06-09 Relisted — Zillow
• 2026-06-09 Price Changed $258,290 Zillow
• 2026-06-08 Price Changed $258,290 HARMLS
• 2026-05-31 Delisted — Zillow
• 2026-05-26 Price Changed $249,990 Zillow
• 2026-05-26 Price Changed $249,990 HARMLS
• 2026-05-19 Price Changed $262,740 Zillow
• 2026-05-19 Price Changed $262,740 HARMLS
• 2026-05-12 Price Changed $259,190 Zillow
• 2026-05-11 Price Changed $259,190 HARMLS
• 2026-05-08 Price Changed $254,990 Zillow
• 2026-05-07 Price Changed $254,990 HARMLS
• 2026-05-01 Price Changed $274,390 Zillow
• 2026-04-28 Price Changed $270,340 Zillow
• 2026-04-28 Listed $274,390 HARMLS
• 2026-04-26 Listed $294,990 Zillow