The Pure 28603U Plan · Crosby, TX 77532

$124,812

3 bd · 2.0 ba · 1,600 sqft · Manufactured · 317 Days on market

Excellent 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
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Pure Homes 28603U-a thoughtfully designed 3-bedroom, 2-bath manufactured home offering 1,600 square feet of modern comfort and spacious living. From the moment you walk in, you'll notice the open layout, abundant natural light, and clean, contemporary finishes that make this home feel both stylish and functional. At the center of it all is a large living room that flows seamlessly into the dining area and gourmet kitchen. The kitchen features a large center island with bar seating, sleek cabinetry, energy-efficient appliances, and a walk-in pantry-perfect for those who love to cook, gather, and entertain. Whether it's weeknight meals or weekend get-togethers, this space is ready for it all. The split-bedroom floor plan provides privacy and comfort, with a generous primary suite that includes a walk-in closet and an ensuite bath with dual sinks, a spacious walk-in shower, and optional upgrades to personalize your retreat. At the opposite end of the home is a den/media/bonus room. This spacious secondary living space features a built-in fireplace and media wall set up for a wall mounted TV. Two additional bedrooms and a full bath sit next to the media room. Additional features include a separate utility room with washer/dryer hookups, durable construction, and energy-smart design elements that help lower utility costs without sacrificing comfort.

Key facts

• Large center island
• Gourmet kitchen
• Open layout

Tags

• OPEN LAYOUT
• ABUNDANT NATURAL LIGHT
• LARGE LIVING ROOM
• GOURMET KITCHEN
• LARGE CENTER ISLAND
• WALK-IN PANTRY

🏗️ New construction. The $124,812 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $136,956.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $125k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $566 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $110k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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: schools D, amenities F, commute 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.
• Market conditions: Rents rising (+1.5%/yr); 1172 active listings in the ZIP; solid renter incomes; 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 $947 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 1.5% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 317 days — a 12% lower offer ($110k) is reasonable based on typical stale-listing flexibility.

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 $109,834 (12.0% below list)

Questions for the listing agent

1. It's been on market 317 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 1.40% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.72%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

• ARV (median comp): $136,956
• List price: $124,812
• Delta: -8.87%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 7.5%
• Equity multiple: 1.29×
• Total profit: $11,010
• Equity at exit: $20,421

10-year hold

• IRR: 15.4%
• Equity multiple: 2.16×
• Total profit: $44,656
• Equity at exit: $11,841

Cash invested: $38,348 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,915 medium
• Mortgage (P&I): −$718
• Tax est. 1.5%: −$171 /mo · $2,054/yr
• Insurance: −$57
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $566

Break-even live

Break-even rent $1,198

Max offer price $136,956

Occupancy floor 65%

Sensitivity live

Price	-10% $661	-5% $613	+0% $566	+5% $519	+10% $472
Rent	-10% $415	-5% $491	+0% $566	+5% $642	+10% $717
Rate	-1.0pp $635	-0.5pp $601	base $566	+0.5pp $531	+1.0pp $495

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: $34,239
• Closing costs: $4,109
• Reserves months: —
• Total cash needed: —

Listing history 14 events

1. 2026-06-18
   days on market $124,812 Active 317 DOM
2. 2026-06-17
   days on market $124,812 Active 316 DOM
3. 2026-06-16
   days on market $124,812 Active 315 DOM
4. 2026-06-15
   days on market $124,812 Active 314 DOM
5. 2026-06-13
   days on market $124,812 Active 312 DOM
6. 2026-06-09
   days on market $124,812 Active 308 DOM
7. 2026-06-08
   days on market $124,812 Active 307 DOM
8. 2026-06-07
   days on market $124,812 Active 306 DOM
9. 2026-06-04
   days on market $124,812 Active 303 DOM
10. 2026-06-02
    days on market $124,812 Active 301 DOM
11. 2026-06-01
    days on market $124,812 Active 300 DOM
12. 2026-05-31
    days on market $124,812 Active 299 DOM
13. 2025-09-25
    price $124,812 1381-char remark

    Show marketing remark (1381 chars)

    Welcome to the Pure Homes 28603U-a thoughtfully designed 3-bedroom, 2-bath manufactured home offering 1,600 square feet of modern comfort and spacious living. From the moment you walk in, you'll notice the open layout, abundant natural light, and clean, contemporary finishes that make this home feel both stylish and functional. At the center of it all is a large living room that flows seamlessly into the dining area and gourmet kitchen. The kitchen features a large center island with bar seating, sleek cabinetry, energy-efficient appliances, and a walk-in pantry-perfect for those who love to cook, gather, and entertain. Whether it's weeknight meals or weekend get-togethers, this space is ready for it all. The split-bedroom floor plan provides privacy and comfort, with a generous primary suite that includes a walk-in closet and an ensuite bath with dual sinks, a spacious walk-in shower, and optional upgrades to personalize your retreat. At the opposite end of the home is a den/media/bonus room. This spacious secondary living space features a built-in fireplace and media wall set up for a wall mounted TV. Two additional bedrooms and a full bath sit next to the media room. Additional features include a separate utility room with washer/dryer hookups, durable construction, and energy-smart design elements that help lower utility costs without sacrificing comfort.

14. 2025-08-05
    listed $98,107 Active 1381-char remark

    Show marketing remark (1381 chars)

    Welcome to the Pure Homes 28603U-a thoughtfully designed 3-bedroom, 2-bath manufactured home offering 1,600 square feet of modern comfort and spacious living. From the moment you walk in, you'll notice the open layout, abundant natural light, and clean, contemporary finishes that make this home feel both stylish and functional. At the center of it all is a large living room that flows seamlessly into the dining area and gourmet kitchen. The kitchen features a large center island with bar seating, sleek cabinetry, energy-efficient appliances, and a walk-in pantry-perfect for those who love to cook, gather, and entertain. Whether it's weeknight meals or weekend get-togethers, this space is ready for it all. The split-bedroom floor plan provides privacy and comfort, with a generous primary suite that includes a walk-in closet and an ensuite bath with dual sinks, a spacious walk-in shower, and optional upgrades to personalize your retreat. At the opposite end of the home is a den/media/bonus room. This spacious secondary living space features a built-in fireplace and media wall set up for a wall mounted TV. Two additional bedrooms and a full bath sit next to the media room. Additional features include a separate utility room with washer/dryer hookups, durable construction, and energy-smart design elements that help lower utility costs without sacrificing comfort.

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,977
• − Mortgage interest: −$7,672
• − Property taxes: −$2,054
• − Insurance: −$685
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − Depreciation: −$3,984
• Taxable income: $4,905
• Est. tax owed @ 24.0%: −$1,177
• After-tax cash flow: $5,617/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 · 13 photos

Excellent 95/100 None rehab

This manufactured home is in excellent condition with no visible repairs needed. It offers a modern kitchen, well-maintained bathrooms, and a stable foundation. Potential value-adding updates include painting, landscaping, and appliance upgrades.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve the home's curb appeal and add value.
• Both Adding a small patio or deck — A patio or deck can increase the home's livability and add value for both resale and rental.
• Both Upgrading the appliances — Upgrading to more energy-efficient or modern appliances can improve the home's appeal and energy performance.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve the home's curb appeal and add value. ↑
• Both Adding a small patio or deck — A patio or deck can increase the home's livability and add value for both resale and rental. ↑
• Both Upgrading the appliances — Upgrading to more energy-efficient or modern appliances can improve the home's appeal and energy performance. ↑

ⓘ 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: 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

+27.2% since first listed

2 events — show timeline

• 2025-09-25 Price Changed $124,812 Zillow
• 2025-08-05 Listed $98,107 Zillow