20115 White Dove Trl · Houston, TX 77532

$206,990

3 bd · 2.0 ba · 1,418 sqft · SingleFamily · 17 Days on market

Built 2026 Excellent condition $125/mo HOA · 6% of rent

---

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 +14.3/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• 1% rule +4.7/10.0
• DSCR +4.3/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining, along with access to an outdoor space. An owner's suite enjoys a private location in a rear corner of the home, complemented by an en-suite bathroom and walk-in closet. There are two secondary bedrooms at the front of the home, ideal for household members and overnight guests.

Key facts

• Walk-in closet
• Open floorplan
• Secondary bedrooms

Tags

• OPEN FLOORPLAN
• OUTDOOR SPACE
• OWNER'S SUITE
• EN-SUITE BATHROOM
• WALK-IN CLOSET
• SECONDARY BEDROOMS

Property features AI

Finance

• HOA & community: Homeowners association managed by Southern Property Management Grou; HOA fee $125 monthly

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Residential property; Under construction (new construction); Slab foundation
• Construction: Brick construction; Composition roof; Built in 2026
• Exterior features: Back yard fence; Subdivision lot setting

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Gas oven; Gas range
• Bedrooms: Bedroom on first floor
• Flooring: Carpet
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric and gas); Central air conditioning (electric and gas)
• Interior features: Breakfast bar; Kitchen and family room combo; Kitchen and dining combo; Separate shower; Tub with shower
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

🏗️ New construction. The $206,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $225,462.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $207k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $40 ($484/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $207k).
• Recommended offer: $204k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.5% 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: crime 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.
• Zoned schools: Crosby Middle (math 36% / reading 37%, grade F, #786 of 1,662 statewide, top 48%, 1,549 students, 60% FRL); Highpoint School East (Crosby) (20 students, 80% FRL) — zoned schools average 70% FRL vs 50% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.5%/yr); 1172 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $7k 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 17 days — a 2% lower offer ($204k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $203,885 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 6.51%
• Cash-on-cash: 0.77%
• DSCR: 1.03
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $225,462
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20031 White Dove Trl	0.12mi	3/2.0	1,418 (0%)	1mo	$254,990	$180	93
20127 Green Mallard St	0.06mi	3/2.5	1,360 (-4%)	0mo	$181,990	$134	88
20011 White Dove Trl	0.22mi	3/2.0	1,409 (-1%)	1mo	$252,990	$180	88
20159 Green Mallard St	0.06mi	3/2.5	1,360 (-4%)	1mo	$201,990	$149	87
20166 Green Mallard St	0.08mi	3/2.5	1,360 (-4%)	1mo	$201,990	$149	87
1738 West Stroker Rd	0.35mi	3/2.0	1,451 (+2%)	1mo	$224,990	$155	79
20050 White Dove Trl	0.09mi	3/2.0	1,273 (-10%)	1mo	$239,990	$189	78
20158 Green Mallard St	0.07mi	4/2.5 (+1)	1,535 (+8%)	1mo	$211,990	$138	75
20066 White Dove Trl	0.06mi	4/2.0 (+1)	1,607 (+13%)	1mo	$199,990	$124	69
20035 White Dove Trl	0.12mi	4/2.0 (+1)	1,607 (+13%)	1mo	$265,990	$166	67
1714 Serenity Moon Dr	0.41mi	3/2.0	1,539 (+8%)	1mo	$244,990	$159	66
20023 White Dove Trl	0.14mi	4/2.0 (+1)	1,607 (+13%)	1mo	$268,990	$167	66

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 · 1.48% rent growth · sell at horizon

5-year hold

• IRR: -16.9%
• Equity multiple: 0.41×
• Total profit: $-37,141
• Equity at exit: $33,617

10-year hold

• IRR: -11.9%
• Equity multiple: 0.34×
• Total profit: $-41,666
• Equity at exit: $19,494

Cash invested: $63,129 (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: 7.9×

Monthly cashflow live

• Estimated rent: $2,182 medium
• Mortgage (P&I): −$1,182
• Tax est. 1.5%: −$282 /mo · $3,382/yr
• Insurance: −$94
• HOA: −$125
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $40

Break-even live

Break-even rent $2,131

Max offer price $225,462

Occupancy floor 93%

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: $56,366
• Closing costs: $6,764
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20034 White Dove Dr Crosby, TX	3.0	2.0	1273	$1,850	$1.45	12d	1	0.14mi
20119 Iron Winds St Crosby, TX	3.0	2.0	1418	$1,875	$1.32	12d	1	0.23mi

HOA detail

• Monthly dues: $125 · $1,500/yr

Listing history 13 events

1. 2026-06-18
   days on market $206,990 Active 17 DOM
2. 2026-06-17
   days on market $206,990 Active 16 DOM
3. 2026-06-16
   days on market $206,990 Active 15 DOM
4. 2026-06-15
   remarks 636-char remark
5. 2026-06-15
   days on market $206,990 Active 14 DOM
6. 2026-06-13
   pricedays on market $206,990 Active 12 DOM
7. 2026-06-09
   days on market $212,990 Active 8 DOM
8. 2026-06-08
   days on market $212,990 Active 7 DOM
9. 2026-06-07
   days on market $212,990 Active 6 DOM
10. 2026-06-04
    days on market $212,990 Active 3 DOM
11. 2026-06-03
    days on market $212,990 Active 2 DOM
12. 2026-06-02
    remarks 597-char remark
13. 2026-06-02
    listed $212,990 Active 1 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: $26,180
• − Mortgage interest: −$12,629
• − Property taxes: −$3,382
• − Insurance: −$1,127
• − Repairs & maintenance: −$2,094
• − Management: −$2,094
• − HOA: −$1,500
• − Depreciation: −$6,559
• Taxable loss: −$3,207
• Est. tax savings @ 24.0%: +$770
• After-tax cash flow: $1,254/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

Excellent 95/100 None rehab

This single-level home is in excellent condition with a modern and well-maintained interior and exterior. It is move-in ready and would benefit from minor updates to enhance its curb appeal and smart home features.

Value-add opportunities

• Resale Painting the exterior — Fresh paint can enhance curb appeal and property value
• Resale Landscaping improvements — Enhanced landscaping can attract more buyers
• Both Add smart home features — Smart home features can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior — Fresh paint can enhance curb appeal and property value ↑
• Resale Landscaping improvements — Enhanced landscaping can attract more buyers ↑
• Both Add smart home features — Smart home features 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: 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 — 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): 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

+0.0% since first listed

2 events — show timeline

• 2026-06-01 Listed $212,990 Zillow
• 2026-06-01 Listed $212,990 HARMLS