Santo Plan · Houston, TX 77493

$375,990

5 bd · 3.0 ba · 2,637 sqft · SingleFamily · 124 Days on market

Good condition

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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 +11.4/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• 1% rule +3.3/10.0
• DSCR +3.3/10.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This new two-story home is host to an inviting open-concept layout on the first floor, featuring access to a covered patio for optimal entertaining and multitasking. Two bedrooms are tucked away to the side of the home, including the luxe owner's suite with a full bathroom and walk-in closet. A versatile game room shares the second floor with three additional bedrooms.

Key facts

• Lakes for kayaking
• Swimming pool
• Lakes for fishing

Tags

• SWIMMING POOL
• LAKES FOR FISHING
• LAKES FOR KAYAKING
• LOCAL SHOPPING
• LOCAL DINING
• MAJOR HIGHWAYS

🏗️ New construction. The $375,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $375,672.

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $376k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $357k (5.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $312k (17.0% below list).
• Recommended offer: $312k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 5.9% 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: schools D, crime F.
• Katy ISD (suburban): math 61% / reading 63% proficiency, ranked #29 of 826 in TX (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-0.8%/yr); 2696 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 32% of the median local income ($118k/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 $3k of loan paydown is wiped out by about $11k 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 124 days — a 12% lower offer ($331k) is reasonable based on typical stale-listing flexibility.

Recommended offer $312,028 (17.0% 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 124 days. Have you received any prior offers? Is the seller open to a 17% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 5.87%
• Cash-on-cash: -1.50%
• DSCR: 0.93
• GRM: 10.0

CMA / ARV

• ARV (median comp): $375,672
• List price: $375,990
• Delta: 0.08%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26118 Hazel Summit Dr	0.01mi	4/3.0 (-1)	2,731 (+4%)	1mo	$369,940	$135	88
26122 Hazel Summit Dr	0.01mi	4/3.5 (-1)	2,548 (-3%)	1mo	$383,990	$151	86
6311 Serene Bay Dr	0.01mi	4/3.0 (-1)	2,792 (+6%)	1mo	$412,140	$148	84
6331 Serene Bay Dr	0.46mi	4/3.5 (-1)	2,614 (-1%)	2mo	$385,340	$147	68
6702 Sienna Sunrise Ln	0.37mi	4/3.5 (-1)	2,794 (+6%)	0mo	$368,040	$132	66
6339 Emerald Clover Dr	0.59mi	4/3.5 (-1)	2,666 (+1%)	1mo	$329,140	$123	63
6335 Serene Bay Dr	0.45mi	4/3.0 (-1)	2,792 (+6%)	2mo	$482,990	$173	62
6343 Emerald Clover Dr	0.58mi	4/3.0 (-1)	2,731 (+4%)	0mo	$355,990	$130	62
6335 Emerald Clover Dr	0.60mi	4/3.0 (-1)	2,731 (+4%)	2mo	$417,990	$153	60
26911 Nightingale Songs Dr	0.43mi	4/3.0 (-1)	2,410 (-9%)	2mo	$329,990	$137	59
6674 Iron Clover Dr	0.43mi	4/3.5 (-1)	2,400 (-9%)	1mo	$329,990	$137	57
7303 Dover View Ln	0.65mi	5/3.5	2,928 (+11%)	1mo	$365,000	$125	49

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: -22.2%
• Equity multiple: 0.26×
• Total profit: $-78,326
• Equity at exit: $56,014

10-year hold

• IRR: -26.1%
• Equity multiple: -0.08×
• Total profit: $-114,110
• Equity at exit: $32,481

Cash invested: $105,188 (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 77493

• Rents YoY: -0.8%
• Active inventory: 2696
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $3,120 high
• Mortgage (P&I): −$1,970
• Tax est. 1.5%: −$470 /mo · $5,635/yr
• Insurance: −$157
• HOA: −$0
• Vacancy / Maint / Mgmt: −$655
• Net cashflow: $-131

Break-even live

Break-even rent $3,286

Max offer price $356,692

Occupancy floor 99%

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: $93,918
• Closing costs: $11,270
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6414 Orchid Beach Dr Katy, TX	5.0	4.0	2490	$3,000	$1.20	13d	1	0.67mi
7402 Clover Chase Dr Katy, TX	4.0	3.0	1840	$2,400	$1.30	44d	1	0.75mi
7410 Hillside Arbor Dr Katy, TX	4.0	2.0	2289	$2,400	$1.05	44d	1	0.81mi
6427 Seafoam Lake Dr Katy, TX	4.0	4.0	2479	$3,000	$1.21	1d	1	0.95mi
27507 Hudson Sands Ln Katy, TX	4.0	3.0	2294	$3,000	$1.31	17d	1	1.07mi
5835 Big Bluestem Ln Katy, TX	5.0	3.0	2890	$2,406	$0.83	44d	1	1.13mi
5819 Bright Keel Dr Katy, TX	4.0	3.0	2598	$2,400	$0.92	44d	1	1.22mi
27327 Blue Pool Dr Katy, TX	4.0	3.0	2100	$2,600	$1.24	44d	1	1.24mi
3084 Fantasy Terrace Dr Katy, TX	4.0	2.0	2085	$2,325	$1.12	13d	1	1.29mi
3072 Fantasy Terrace Dr Katy, TX	4.0	2.0	2279	$2,550	$1.12	22d	1	1.31mi
5631 Pearl Vista Dr Katy, TX	4.0	3.0	2039	$3,000	$1.47	21d	1	1.32mi
3060 Nori Shores Dr Katy, TX	6.0	2.5	2408	$3,995	$1.66	24d	1	1.33mi
3020 Nori Shores Dr Katy, TX	5.0	2.5	2408	$3,995	$1.66	24d	1	1.34mi
3025 Nori Shores Dr Katy, TX	6.0	2.5	2480	$3,798	$1.53	5d	1	1.35mi
3053 Fantasy Terrace Dr Katy, TX	4.0	2.0	2085	$2,440	$1.17	15d	1	1.35mi
3013 Pearl Coastline Ln Katy, TX	6.0	2.5	2480	$3,995	$1.61	24d	1	1.36mi
3076 Dylan Skyland Dr Katy, TX	4.0	2.5	2240	$3,395	$1.52	24d	1	1.41mi
3104 Nori Shores Dr Katy, TX	5.0	2.5	1947	$3,695	$1.90	4d	1	1.45mi
27064 Beach Ball Dr Katy, TX	3.0–4.0	2.5–3.5	1705	$2,957	$1.73	1d	25	1.47mi

Listing history 13 events

1. 2026-06-18
   days on market $375,990 Active 124 DOM
2. 2026-06-17
   pricedays on market $375,990 Active 123 DOM
3. 2026-06-16
   days on market $389,990 Active 122 DOM
4. 2026-06-15
   days on market $389,990 Active 121 DOM
5. 2026-06-09
   days on market $389,990 Active 115 DOM
6. 2026-06-08
   days on market $389,990 Active 114 DOM
7. 2026-06-07
   days on market $389,990 Active 113 DOM
8. 2026-06-04
   days on market $389,990 Active 110 DOM
9. 2026-06-03
   days on market $389,990 Active 109 DOM
10. 2026-06-02
    days on market $389,990 Active 108 DOM
11. 2026-06-01
    days on market $389,990 Active 107 DOM
12. 2026-05-31
    days on market $389,990 Active 106 DOM
13. 2026-02-14
    listed $389,990 Active 371-char remark

    Show marketing remark (371 chars)

    This new two-story home is host to an inviting open-concept layout on the first floor, featuring access to a covered patio for optimal entertaining and multitasking. Two bedrooms are tucked away to the side of the home, including the luxe owner's suite with a full bathroom and walk-in closet. A versatile game room shares the second floor with three additional bedrooms.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $37,443
• − Mortgage interest: −$21,043
• − Property taxes: −$5,635
• − Insurance: −$1,878
• − Repairs & maintenance: −$2,995
• − Management: −$2,995
• − Depreciation: −$10,929
• Taxable loss: −$8,033
• Est. tax savings @ 24.0%: +$1,928
• After-tax cash flow: $354/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 · 12 photos

Good 80/100 None rehab

This new two-story home is in excellent condition with a modern open-concept layout and well-maintained exterior. It offers a good return on investment with minimal updates needed to enhance its value.

Value-add opportunities

• Both Painting the exterior brick — Enhances curb appeal and can increase both resale and rental value.
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value.
• Both New flooring in high-traffic areas — Freshens up the interior and can increase both resale and rental value.
• Both New kitchen appliances — Modernizes the kitchen and can increase both resale and rental value.
• Both New bathroom fixtures — Modernizes the bathrooms and can increase both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior brick — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Landscaping improvements — Enhances curb appeal and can increase both resale and rental value. ↑
• Both New flooring in high-traffic areas — Freshens up the interior and can increase both resale and rental value. ↑
• Both New kitchen appliances — Modernizes the kitchen and can increase both resale and rental value. ↑
• Both New bathroom fixtures — Modernizes the bathrooms and can increase both resale and rental 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: Katy ISD
• NCES district ID: 4825170
• Math proficiency: 61% ▼ -7.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $90,312
• Composite: 56.59/100
• National rank: #1146
• State rank: #29 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): 71,484
• Household income: $118,464
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 913.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 36% Hispanic / Latino 33% Two or more races 16% Black 15% Asian 12%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 21% · Canada, Vietnam, Jamaica
• Languages at home: 64% English-only · Spanish 22% Vietnamese 5% French/Haitian/Cajun 4%

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: ▼ -140.65%
• Current HPI: 233.1683
• Rent YoY: ▼ -0.80%
• 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

1 event — show timeline

• 2026-02-14 Listed $389,990 Zillow