15701 US Highway 59 Business #11 · Splendora, TX 77372

$79,900

3 bd · 2.0 ba · 1,191 sqft · Manufactured · 739 Days on market

Manufactured home Built 2024 Good condition $67/sqft · 44% below area Est $143k · 44% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +4.0/5.0
• Appreciation +3.4/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Manufactured-home adj. -6.5

Listing remarks MLS

Beautifully crafted value oriented extra large single section family home includes the preferred floor plan layout with privately located master bedroom and ensuite boasting deck soaking tub, separate stall shower and dual sink basins; spacious living room opening to large beautiful well equipped kitchen and adjacent roomy dining area and utility/laundry storage room; large secondary bedrooms and well located guest bath; ample closet and storage capacity throughout this skillfully designed home.

Key facts

• Large master bedroom
• Roomy dining area
• Deck soaking tub

Tags

• LARGE MASTER BEDROOM
• DECK SOAKING TUB
• SPACIOUS LIVING ROOM
• WELL EQUIPPED KITCHEN
• ROOMY DINING AREA
• AMPLE STORAGE CAPACITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $80k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 5.1% in Splendora — 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 62/100 on livability (#911 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Splendora ISD (rural): math 25% / reading 31% proficiency, ranked #648 of 826 in TX (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Piney Woods El (math 23% / reading 28%, grade F, #2,982 of 4,322 statewide, top 70%, 534 students, 55% FRL); Splendora J H (math 28% / reading 42%, grade F, #842 of 1,662 statewide, top 51%, 774 students, 62% FRL); Splendora H S (math 18% / reading 38%, grade F, #1,170 of 1,632 statewide, top 72%, 1,344 students, 59% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: 655 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 38d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 13,259 units permitted in Montgomery County in 2024 (1,402 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Montgomery County population projected at +65% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 739 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Recommended offer $70,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 739 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 F-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: 1.57% ✓
• Cap rate: 12.92%
• Cash-on-cash: 23.69%
• DSCR: 2.05
• GRM: 5.3

CMA / ARV

• ARV (median comp): $143,455
• List price: $79,900
• Delta: -44.30%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25732 Chestnut Ln	1.18mi	3/1.5	1,146 (-4%)	4mo	$189,500	$165	54
25772 Hickory Ln	1.48mi	3/2.0	1,156 (-3%)	8mo	$234,900	$203	54
25760 Hickory Ln	1.47mi	3/2.0	1,156 (-3%)	8mo	$239,900	$208	53
16124 Brettwood Ln	0.98mi	3/2.0	1,109 (-7%)	2mo	$179,990	$162	52
25388 White Oak Ln	1.08mi	3/2.0	1,272 (+7%)	2mo	$150,000	$118	52
25774 John Wayne Rd	1.47mi	3/2.0	1,378 (+16%)	1mo	$241,990	$176	39
25766 John Wayne Rd	1.46mi	3/2.0	1,378 (+16%)	2mo	$234,900	$170	38
25762 John Wayne Rd	1.46mi	3/2.0	1,416 (+19%)	4mo	$242,990	$172	36
25665 Roy Rogers Rd	1.39mi	3/2.0	1,409 (+18%)	4mo	$225,990	$160	36
25721 John Wayne Rd	1.37mi	3/2.0	1,409 (+18%)	6mo	$221,990	$158	35
15619 Jackie Robinson Rd	1.05mi	3/2.0	1,453 (+22%)	8mo	$222,000	$153	33
25669 Roy Rogers Rd	1.40mi	3/2.0	1,484 (+25%)	9mo	$242,990	$164	33

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.8%
• Equity multiple: 1.68×
• Total profit: $15,196
• Equity at exit: $11,913

10-year hold

• IRR: 25.4%
• Equity multiple: 3.21×
• Total profit: $49,523
• Equity at exit: $6,908

Cash invested: $22,372 (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 →

Active competition Active MLS

• For sale now: 13 active
• Median asking: $99,900 ($69/sqft)
• Median days on market: 739 d
• This list price: 15% of active listings are priced below it
• ARV vs active asking: +73.6% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77372

• Home prices YoY: -2.1%
• Active inventory: 655
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,258 high
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$0
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $442

Break-even live

Break-even rent $699

Max offer price $79,900

Occupancy floor 60%

Sensitivity live

Price	-10% $497	-5% $469	+0% $442	+5% $414	+10% $386
Rent	-10% $342	-5% $392	+0% $442	+5% $491	+10% $541
Rate	-1.0pp $482	-0.5pp $462	base $442	+0.5pp $421	+1.0pp $400

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: $19,975
• Closing costs: $2,397
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25982 Stillbrook Ln Splendora, TX	3.0	2.0	1090	$1,175	$1.08	38d	1	0.96mi
24898 Lakewood Dr Splendora, TX	3.0	2.0	1300	$1,400	$1.08	12d	1	1.35mi
24898 Lakewood Dr Splendora, TX	3.0	2.0	1300	$1,300	$1.00	3d	1	1.35mi
25721 John Wayne Rd Splendora, TX	3.0	2.0	1409	$1,800	$1.28	36d	1	1.36mi
26471 Joy Village Dr Splendora, TX	2.0	2.0	1050	$1,350	$1.29	71d	1	1.42mi
26471 Joy Village Dr Unit A Splendora, TX	2.0	2.0	1015	$1,295	$1.28	43d	1	1.42mi

Listing history 50 events

1. 2026-08-08
   days on market $79,900 Active 739 DOM
2. 2026-08-06
   days on market $79,900 Active 737 DOM
3. 2026-08-05
   days on market $79,900 Active 736 DOM
4. 2026-08-04
   days on market $79,900 Active 735 DOM
5. 2026-08-03
   days on market $79,900 Active 734 DOM
6. 2026-07-31
   days on market $79,900 Active 731 DOM
7. 2026-07-30
   days on market $79,900 Active 730 DOM
8. 2026-07-30
   days on market $79,900 Active 729 DOM
9. 2026-07-28
   days on market $79,900 Active 728 DOM
10. 2026-07-26
    days on market $79,900 Active 726 DOM
11. 2026-07-24
    days on market $79,900 Active 724 DOM
12. 2026-07-23
    days on market $79,900 Active 723 DOM
13. 2026-07-22
    days on market $79,900 Active 722 DOM
14. 2026-07-21
    days on market $79,900 Active 721 DOM
15. 2026-07-20
    days on market $79,900 Active 720 DOM
16. 2026-07-18
    days on market $79,900 Active 718 DOM
17. 2026-07-18
    days on market $79,900 Active 717 DOM
18. 2026-07-16
    days on market $79,900 Active 716 DOM
19. 2026-07-15
    days on market $79,900 Active 715 DOM
20. 2026-07-14
    days on market $79,900 Active 714 DOM
21. 2026-07-13
    days on market $79,900 Active 713 DOM
22. 2026-07-13
    days on market $79,900 Active 712 DOM
23. 2026-07-11
    days on market $79,900 Active 711 DOM
24. 2026-07-10
    days on market $79,900 Active 710 DOM
25. 2026-07-09
    days on market $79,900 Active 709 DOM
26. 2026-07-07
    days on market $79,900 Active 707 DOM
27. 2026-07-06
    days on market $79,900 Active 706 DOM
28. 2026-07-06
    days on market $79,900 Active 705 DOM
29. 2026-07-05
    days on market $79,900 Active 704 DOM
30. 2026-07-03
    days on market $79,900 Active 703 DOM
31. 2026-07-02
    days on market $79,900 Active 702 DOM
32. 2026-07-01
    days on market $79,900 Active 701 DOM
33. 2026-06-30
    days on market $79,900 Active 700 DOM
34. 2026-06-29
    days on market $79,900 Active 699 DOM
35. 2026-06-28
    days on market $79,900 Active 698 DOM
36. 2026-06-27
    days on market $79,900 Active 697 DOM
37. 2026-06-26
    days on market $79,900 Active 696 DOM
38. 2026-06-24
    days on market $79,900 Active 694 DOM
39. 2026-06-22
    days on market $79,900 Active 692 DOM
40. 2026-06-21
    days on market $79,900 Active 691 DOM
41. 2026-06-18
    days on market $79,900 Active 688 DOM
42. 2026-06-17
    days on market $79,900 Active 687 DOM
43. 2026-06-16
    days on market $79,900 Active 686 DOM
44. 2026-06-15
    days on market $79,900 Active 685 DOM
45. 2026-06-13
    days on market $79,900 Active 683 DOM
46. 2026-06-13
    days on market $79,900 Active 682 DOM
47. 2026-06-09
    days on market $79,900 Active 679 DOM
48. 2026-06-08
    days on market $79,900 Active 678 DOM
49. 2026-06-07
    days on market $79,900 Active 677 DOM
50. 2026-06-04
    days on market $79,900 Active 674 DOM

ⓘ 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: $15,095
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,208
• − Management: −$1,208
• − Depreciation: −$2,324
• Taxable income: $4,282
• Est. tax owed @ 24.0%: −$1,028
• After-tax cash flow: $4,271/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 Cosmetic rehab Est. rehab $5,955–$17,865 screening

This manufactured home is in good condition with a good condition score of 80. It is move-in ready with a cosmetic rehab level and minimal repairs needed.

Value-add opportunities

• Both Painting exterior — Enhances curb appeal and resale value ↑
• Both Landscaping — Improves curb appeal and rental value ↑
• Both New flooring — Modernizes the space and increases both resale and rental value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 30/100

Zoned Schools

Elementary Piney Woods El F TX #2,982/4,322 Nat'l #29,743/41,679 Middle Splendora J H F TX #842/1,662 Nat'l #7,460/14,009 High Splendora H S F TX #1,170/1,632 Nat'l #11,740/17,239

Schools (NCES district)

• District: Splendora ISD
• NCES district ID: 4841070
• Math proficiency: 25% ▼ -8.00%
• Reading proficiency: 31% ▼ -1.00%
• Median HH income: $54,166
• Composite: 24.92/100
• National rank: #7572
• State rank: #648 of 826 in TX

C Composite livability gradescore 62/100

Livability — Splendora

• Score: 62/100
• State rank: #911
• US rank: #16335

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Splendora, TX
• County: Montgomery County · 713,896 people
• City population: 14,367
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 14,367
• Household income: $79,085
• Rent vs Own: 18.7% rent · 81.3% own
• Severe rent burden: 14% of renters

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Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 713,896 people
• By 2030: 805,263 · +12.8%
• By 2040: 992,708 · +39.1%
• By 2050: 1,179,590 · +65.2%
• By 2075: 1,628,084 · +128.1%
• By 2100: 1,937,880 · +171.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 36% Two or more races 9% Native American 1%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Lithuanian 4% Italian 2% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 71% English-only · Spanish 28%

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Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.3%
• 2008→2024 swing: +7.2pp toward D · 2008: -52.7pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+43.8 2016: R+51.4 2012: R+60.7 2008: R+52.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -6.47%
• Current HPI: 306.9962
• Rent YoY: —
• Metro: Houston-The Woodlands-Sugar Land, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

• 2024-07-30 Listed $79,900 Zillow