Sanpiper Plan · Fulshear, TX 77441

$326,990

4 bd · 2.5 ba · 2,107 sqft · SingleFamily · 304 Days on market

Good condition

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Schools +6.3/10.0
• Cash flow +5.9/30.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.1/5.0
• 1% rule +1.3/10.0
• DSCR +0.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Sanpiper offers the perfect blend of open-concept living and private retreat spaces across 2 thoughtfully designed floors. With 4 bedrooms, 2.5 bathrooms, and over 2,100 square feet, this home is built for both everyday living and memorable gatherings.

Key facts

• 2 garage spots
• Listed 303 days

🏗️ New construction. The $326,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $466,921.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $327k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-917 ($-11k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $292k (10.6% below list).
• Recommended offer: $288k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 69/100 on livability (#430 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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.
• Zoned schools: Huggins El (math 61% / reading 63%, grade B, #321 of 4,322 statewide, top 8%, 893 students, 23% FRL); Briscoe J H (math 59% / reading 60%, grade B, #166 of 1,662 statewide, top 11%, 1,914 students, 38% FRL); Foster H S (math 64% / reading 74%, grade B, #141 of 1,632 statewide, top 9%, 2,388 students, 34% FRL).
• Zoned-school proficiency averages 64% at this address vs 52% district-wide (+12 pts) — the actual schools serving this property are materially stronger than the Lamar CISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-1.6%/yr); 1601 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 62d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 12,093 units permitted in Fort Bend County in 2024 (815 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $14k of value loss. Plan a longer hold.
• Fort Bend County population projected at +75% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 304 days — a 12% lower offer ($288k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→19/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $287,751 (12.0% 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 304 days. Have you received any prior offers? Is the seller open to a 12% 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
10. 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.
11. 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.
12. 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: 0.63% ✗
• Cap rate: 3.94%
• Cash-on-cash: -8.41%
• DSCR: 0.63
• GRM: 13.3

CMA / ARV

• ARV (median comp): $466,921
• List price: $326,990
• Delta: -29.97%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32111 Morning Luster Ct	0.18mi	4/3.0	2,146 (+2%)	2mo	$354,990	$165	84
32515 Midsummer Dr	0.29mi	4/2.5	2,139 (+2%)	1mo	$325,990	$152	83
5822 Sunkissed Dr	0.15mi	4/2.0	1,990 (-6%)	0mo	$334,990	$168	82
32119 Morning Luster Ct	0.18mi	4/3.0	2,246 (+7%)	1mo	$364,990	$163	78
5815 Blazing Light Ln	0.32mi	4/3.0	2,246 (+7%)	1mo	$364,990	$163	72
5711 Sunland Trl	0.07mi	4/3.0	2,402 (+14%)	2mo	$391,990	$163	70
32215 Sunbeam Dr	0.11mi	4/3.0	2,417 (+15%)	2mo	$364,990	$151	66
32503 Midsummer Dr	0.28mi	4/2.5	2,342 (+11%)	3mo	$324,990	$139	66
32511 Midsummer Dr	0.29mi	4/2.5	2,342 (+11%)	2mo	$350,990	$150	66
32107 Morning Luster Ct	0.18mi	4/3.0	2,402 (+14%)	2mo	$369,990	$154	64
5427 Tourmaline Way	0.34mi	4/3.0	2,364 (+12%)	1mo	$324,900	$137	61
5423 Rosser Ruby Way	0.44mi	4/2.5	1,797 (-15%)	2mo	$265,000	$147	53

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: -34.5%
• Equity multiple: -0.09×
• Total profit: $-142,570
• Equity at exit: $69,619

10-year hold

• IRR: -66.9%
• Equity multiple: -0.78×
• Total profit: $-232,264
• Equity at exit: $40,371

Cash invested: $130,738 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 94 active · 20 under contract
• Months of supply: 18.8 mo (5%/mo absorbed)
• Median asking: $367,990 ($181/sqft)
• Median days on market: 156 d
• This list price: 21% of active listings are priced below it
• ARV vs active asking: +22.6% above current asking $/sqft

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

ZIP-level market 77441

• Rents YoY: -1.6%
• Active inventory: 1601
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $2,924 high
• Mortgage (P&I): −$2,449
• Tax est. 1.5%: −$584 /mo · $7,004/yr
• Insurance: −$195
• HOA: −$0
• Vacancy / Maint / Mgmt: −$614
• Net cashflow: $-917

Break-even live

Break-even rent $4,085

Max offer price $334,278

Occupancy floor —

Sensitivity live

Price	-10% $-594	-5% $-755	+0% $-917	+5% $-1,078	+10% $-1,239
Rent	-10% $-1,148	-5% $-1,032	+0% $-917	+5% $-801	+10% $-686
Rate	-1.0pp $-682	-0.5pp $-798	base $-917	+0.5pp $-1,038	+1.0pp $-1,161

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: $116,730
• Closing costs: $14,008
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32503 Midsummer Dr Fulshear, TX	4.0	2.5	2342	$2,500	$1.07	28d	1	0.28mi
32511 Midsummer Dr Fulshear, TX	4.0	2.5	2342	$2,500	$1.07	12d	1	0.28mi
5462 Grand View Dr Unit 1568482P Pattison, TX	5.0	3.0	2992	$4,159	$1.39	0d	1	0.40mi
32311 Melbrooke Dr Brookshire, TX	3.0	2.5	2434	$2,295	$0.94	8d	1	0.42mi
5222 Wyatt James Ln Brookshire, TX	4.0	2.5	2487	$3,250	$1.31	61d	1	0.84mi
7302 New Pecan Dr Fulshear, TX	4.0	4.0	2844	$3,299	$1.16	93d	1	0.94mi
31043 Vintage Creek Ln Fulshear, TX	4.0	3.5	2800	$3,300	$1.18	71d	1	1.09mi
31123 Brightwell Bnd Fulshear, TX	4.0	3.0	2400	$2,400	$1.00	62d	1	1.24mi
31419 Horseshoe Meadow Bend Ln Fulshear, TX	3.0	2.0	1588	$2,100	$1.32	93d	1	1.48mi

Listing history 50 events

1. 2026-08-08
   days on market $326,990 Active 304 DOM
2. 2026-08-06
   days on market $326,990 Active 302 DOM
3. 2026-08-05
   days on market $326,990 Active 301 DOM
4. 2026-08-04
   days on market $326,990 Active 300 DOM
5. 2026-08-03
   days on market $326,990 Active 299 DOM
6. 2026-07-31
   days on market $326,990 Active 296 DOM
7. 2026-07-30
   days on market $326,990 Active 294 DOM
8. 2026-07-28
   days on market $326,990 Active 293 DOM
9. 2026-07-26
   days on market $326,990 Active 291 DOM
10. 2026-07-24
    days on market $326,990 Active 289 DOM
11. 2026-07-23
    days on market $326,990 Active 288 DOM
12. 2026-07-22
    days on market $326,990 Active 287 DOM
13. 2026-07-21
    days on market $326,990 Active 286 DOM
14. 2026-07-20
    days on market $326,990 Active 285 DOM
15. 2026-07-18
    days on market $326,990 Active 282 DOM
16. 2026-07-16
    days on market $326,990 Active 281 DOM
17. 2026-07-15
    days on market $326,990 Active 280 DOM
18. 2026-07-14
    days on market $326,990 Active 279 DOM
19. 2026-07-13
    days on market $326,990 Active 278 DOM
20. 2026-07-13
    days on market $326,990 Active 277 DOM
21. 2026-07-11
    days on market $326,990 Active 276 DOM
22. 2026-07-10
    days on market $326,990 Active 275 DOM
23. 2026-07-09
    days on market $326,990 Active 274 DOM
24. 2026-07-07
    days on market $326,990 Active 272 DOM
25. 2026-07-06
    days on market $326,990 Active 271 DOM
26. 2026-07-06
    days on market $326,990 Active 270 DOM
27. 2026-07-05
    days on market $326,990 Active 269 DOM
28. 2026-07-03
    days on market $326,990 Active 268 DOM
29. 2026-07-02
    days on market $326,990 Active 267 DOM
30. 2026-07-01
    days on market $326,990 Active 266 DOM
31. 2026-06-30
    days on market $326,990 Active 265 DOM
32. 2026-06-29
    days on market $326,990 Active 264 DOM
33. 2026-06-28
    days on market $326,990 Active 263 DOM
34. 2026-06-27
    days on market $326,990 Active 262 DOM
35. 2026-06-26
    days on market $326,990 Active 261 DOM
36. 2026-06-24
    days on market $326,990 Active 259 DOM
37. 2026-06-22
    days on market $326,990 Active 257 DOM
38. 2026-06-21
    days on market $326,990 Active 256 DOM
39. 2026-06-18
    days on market $326,990 Active 253 DOM
40. 2026-06-17
    days on market $326,990 Active 252 DOM
41. 2026-06-16
    days on market $326,990 Active 251 DOM
42. 2026-06-15
    days on market $326,990 Active 250 DOM
43. 2026-06-13
    days on market $326,990 Active 248 DOM
44. 2026-06-10
    days on market $326,990 Active 244 DOM
45. 2026-06-08
    days on market $326,990 Active 243 DOM
46. 2026-06-07
    days on market $326,990 Active 242 DOM
47. 2026-06-04
    days on market $326,990 Active 239 DOM
48. 2026-06-03
    days on market $326,990 Active 238 DOM
49. 2026-06-02
    days on market $326,990 Active 237 DOM
50. 2026-06-01
    days on market $326,990 Active 236 DOM

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 19 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,090
• − Mortgage interest: −$26,155
• − Property taxes: −$7,004
• − Insurance: −$2,335
• − Repairs & maintenance: −$2,807
• − Management: −$2,807
• − Depreciation: −$13,583
• Taxable loss: −$19,600
• Est. tax savings @ 24.0%: +$4,704
• After-tax cash flow: $-6,296/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 · 1 photo

Good 80/100 Cosmetic rehab Est. rehab $10,535–$31,605 screening

This single-family home in Fulshear, TX, is in good condition with minimal repairs needed. It offers a blend of open-concept living and private retreat spaces, making it an attractive option for both resale and rental.

Value-add opportunities

• Both Painting exterior and interior — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in bathrooms and kitchen — Modern flooring improves aesthetics and functionality ↑
• Both New window treatments — Enhances curb appeal and interior aesthetics ↑
• Both New lighting fixtures — Improves functionality and aesthetics ↑

ⓘ 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.

C Composite school gradezoned avg 63/100

Zoned Schools

Elementary Huggins El B TX #321/4,322 Nat'l #6,217/41,679 Middle Dean Leaman J H School B TX #206/1,662 Nat'l #2,146/14,009 High Foster H S B TX #141/1,632 Nat'l #2,354/17,239

Schools (NCES district)

• District: Lamar CISD
• NCES district ID: 4826580
• Math proficiency: 50% ▼ -12.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $75,213
• Composite: 46.43/100
• National rank: #2452
• State rank: #116 of 826 in TX

C Composite livability gradescore 69/100

Livability — Fulshear

• Score: 69/100
• State rank: #430
• US rank: #8901

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Fort Bend County · 1,004,526 people
• City population: 41,324
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 41,324
• Household income: $184,390
• Rent vs Own: 8.0% rent · 92.0% own

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Population outlook (Fort Bend County) Hauer SSP2

• Today (2025): 1,004,526 people
• By 2030: 1,153,104 · +14.8%
• By 2040: 1,453,718 · +44.7%
• By 2050: 1,753,781 · +74.6%
• By 2075: 2,455,772 · +144.5%
• By 2100: 2,930,528 · +191.7%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Hispanic / Latino 20% Two or more races 15% Asian 12% Black 6%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 5% Romanian 2% Italian 1%
• Foreign-born: 26% · Canada, China, Jamaica
• Languages at home: 68% English-only · Spanish 17% German/W. Germanic 4% Chinese 4%

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Political lean MEDSL · Fort Bend

• 2024 margin: Toss-up / Even · D 49.5% · R 47.9% · Other 2.6%
• 2008→2024 swing: +4.0pp toward D · 2008: -2.4pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+10.6 2016: D+6.6 2012: R+6.8 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -154.74%
• Current HPI: 275.8798
• Rent YoY: ▼ -1.63%
• 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

• 2025-10-08 Listed $326,990 Zillow