1119 Moonlight Trace Dr

Rosenberg, TX 77417

$289,900C-

3 bd · 2.0 ba · 1,420 sqft · Built 2026 · Land · Active · 32 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,375/mo
• Mortgage (P&I): −$1,383
• Tax + insurance: −$240
• HOA: −$131
• Vac / Maint / Mgmt: −$499
• Net cashflow: $122/mo
• Annual: $1,467/yr
• Cap rate: 6.85%
• Cash-on-cash: 1.99%
• DSCR: 1.09
• 1% rule: 0.90%
• Cash to close: $73,854

Investor read

• This is a 3-bed/2.0-bath land listed at $290k.
• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• To cash-flow at today's rent, offer at most $285k (1.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $238k (18.1% below list).
• It's been on market 32 days — a 3% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $238k (18.1% below list) — sets the bar for 1% rule.
• In year one you build about $13k of equity ($2k loan paydown + $11k appreciation (4.2% local appreciation)).
• Location reads 62/100 on livability (#922 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B; Watch: schools D-, amenities F, commute F.
• Lamar CISD (suburban): math 50% / reading 53% proficiency, ranked #116 of 826 in TX (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 232 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 12,093 units permitted in Fort Bend County in 2024 (815 in 5+ unit buildings).
• Fort Bend County population projected at +75% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 10 sale attempts; this cycle's ask is 11757% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• At projected returns (4.2% appreciation + 3.0% rent growth), your $74k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
• Cap rate 6.8% vs local median 3.4% in Rosenberg — 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.

Questions for listing agent

• It's been on market 32 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.