1618 Gardenia Blossom Ln · Houston, TX 77532

$185,990

3 bd · 2.0 ba · 1,311 sqft · Land · 202 Days on market

Built 2025 4,952 sqft lot $142/sqft · 26% below area Est $252k · 26% under $192/mo HOA · 10% of rent ↓ 23% since listing

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Why this score? — see what drove the C 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 +19.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +5.6/10.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This exquisite single-level home is thoughtfully designed for modern living and effortless entertaining. Step into the expansive open floorplan that seamlessly connects the kitchen, dining area and family room, creating a warm and inviting space perfect for hosting gatherings. The contemporary design ensures every moment shared here is memorable. Retreat to the owner's suite strategically positioned in a private rear corner of the home. This sanctuary offers an en-suite bathroom ad spacious walk-in-closet, promising comfort and convenience. Additionally, this home features two charming secondary bedrooms designed with comfort in mind. The Oakridge Plan combines elegance with functionality, making it perfect choice for those seeking style with substance. Come see this never lived in home today! Washer, dryer and Fridge included.

Key facts

• 4,952 sq ft lot
• 2 garage spots
• Built 2025

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $186k.

Deal economics

• At list price, monthly cash flow is $208 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $186k).
• Recommended offer: $164k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.6% 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.
• 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.
• Market conditions: Rents rising (+1.5%/yr); 1172 active listings in the ZIP; 1 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 $1k of loan paydown is wiped out by about $6k 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 202 days — a 12% lower offer ($164k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $50k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $163,671 (12.0% below list)

Questions for the listing agent

1. It's been on market 202 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
8. 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.
9. 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: 1.06% ✓
• Cap rate: 7.64%
• Cash-on-cash: 4.80%
• DSCR: 1.21
• GRM: 7.9

CMA / ARV

• ARV (median comp): $251,990
• List price: $185,990
• Delta: -26.19%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.48% rent growth · sell at horizon

5-year hold

• IRR: -10.6%
• Equity multiple: 0.62×
• Total profit: $-19,770
• Equity at exit: $27,732

10-year hold

• IRR: -3.6%
• Equity multiple: 0.78×
• Total profit: $-11,649
• Equity at exit: $16,081

Cash invested: $52,077 (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: $1,964 medium
• Mortgage (P&I): −$975
• Tax from tax record: −$98 /mo · $1,179/yr
• Insurance: −$77
• HOA: −$192
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $208

Break-even live

Break-even rent $1,700

Max offer price $185,990

Occupancy floor 84%

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: $46,498
• Closing costs: $5,580
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1519 Gardenia Grove Ln Crosby, TX	3.0	2.0	1461	$1,800	$1.23	24d	1	0.08mi

HOA detail

• Monthly dues: $192 · $2,304/yr

Listing history 24 events

1. 2026-06-18
   days on market $185,990 Active 202 DOM
2. 2026-06-17
   days on market $185,990 Active 201 DOM
3. 2026-06-16
   days on market $185,990 Active 200 DOM
4. 2026-06-15
   days on market $185,990 Active 199 DOM
5. 2026-06-13
   days on market $185,990 Active 197 DOM
6. 2026-06-09
   days on market $185,990 Active 193 DOM
7. 2026-06-08
   days on market $185,990 Active 192 DOM
8. 2026-06-07
   days on market $185,990 Active 191 DOM
9. 2026-06-04
   days on market $185,990 Active 188 DOM
10. 2026-06-03
    days on market $185,990 Active 187 DOM
11. 2026-06-02
    days on market $185,990 Active 186 DOM
12. 2026-06-01
    days on market $185,990 Active 185 DOM
13. 2026-05-31
    days on market $185,990 Active 184 DOM
14. 2026-04-28
    price $185,990 839-char remark

    Show marketing remark (839 chars)

    This exquisite single-level home is thoughtfully designed for modern living and effortless entertaining. Step into the expansive open floorplan that seamlessly connects the kitchen, dining area and family room, creating a warm and inviting space perfect for hosting gatherings. The contemporary design ensures every moment shared here is memorable. Retreat to the owner's suite strategically positioned in a private rear corner of the home. This sanctuary offers an en-suite bathroom ad spacious walk-in-closet, promising comfort and convenience. Additionally, this home features two charming secondary bedrooms designed with comfort in mind. The Oakridge Plan combines elegance with functionality, making it perfect choice for those seeking style with substance. Come see this never lived in home today! Washer, dryer and Fridge included.

15. 2026-03-14
    price $190,000 839-char remark

    Show marketing remark (839 chars)

    This exquisite single-level home is thoughtfully designed for modern living and effortless entertaining. Step into the expansive open floorplan that seamlessly connects the kitchen, dining area and family room, creating a warm and inviting space perfect for hosting gatherings. The contemporary design ensures every moment shared here is memorable. Retreat to the owner's suite strategically positioned in a private rear corner of the home. This sanctuary offers an en-suite bathroom ad spacious walk-in-closet, promising comfort and convenience. Additionally, this home features two charming secondary bedrooms designed with comfort in mind. The Oakridge Plan combines elegance with functionality, making it perfect choice for those seeking style with substance. Come see this never lived in home today! Washer, dryer and Fridge included.

16. 2026-01-09
    price $195,990 839-char remark

    Show marketing remark (839 chars)

    This exquisite single-level home is thoughtfully designed for modern living and effortless entertaining. Step into the expansive open floorplan that seamlessly connects the kitchen, dining area and family room, creating a warm and inviting space perfect for hosting gatherings. The contemporary design ensures every moment shared here is memorable. Retreat to the owner's suite strategically positioned in a private rear corner of the home. This sanctuary offers an en-suite bathroom ad spacious walk-in-closet, promising comfort and convenience. Additionally, this home features two charming secondary bedrooms designed with comfort in mind. The Oakridge Plan combines elegance with functionality, making it perfect choice for those seeking style with substance. Come see this never lived in home today! Washer, dryer and Fridge included.

17. 2025-12-29
    price $205,990 839-char remark

    Show marketing remark (839 chars)

    This exquisite single-level home is thoughtfully designed for modern living and effortless entertaining. Step into the expansive open floorplan that seamlessly connects the kitchen, dining area and family room, creating a warm and inviting space perfect for hosting gatherings. The contemporary design ensures every moment shared here is memorable. Retreat to the owner's suite strategically positioned in a private rear corner of the home. This sanctuary offers an en-suite bathroom ad spacious walk-in-closet, promising comfort and convenience. Additionally, this home features two charming secondary bedrooms designed with comfort in mind. The Oakridge Plan combines elegance with functionality, making it perfect choice for those seeking style with substance. Come see this never lived in home today! Washer, dryer and Fridge included.

18. 2025-12-12
    price $215,990 839-char remark

    Show marketing remark (839 chars)

    This exquisite single-level home is thoughtfully designed for modern living and effortless entertaining. Step into the expansive open floorplan that seamlessly connects the kitchen, dining area and family room, creating a warm and inviting space perfect for hosting gatherings. The contemporary design ensures every moment shared here is memorable. Retreat to the owner's suite strategically positioned in a private rear corner of the home. This sanctuary offers an en-suite bathroom ad spacious walk-in-closet, promising comfort and convenience. Additionally, this home features two charming secondary bedrooms designed with comfort in mind. The Oakridge Plan combines elegance with functionality, making it perfect choice for those seeking style with substance. Come see this never lived in home today! Washer, dryer and Fridge included.

19. 2025-11-28
    listed $235,990 Active 839-char remark

    Show marketing remark (839 chars)

    This exquisite single-level home is thoughtfully designed for modern living and effortless entertaining. Step into the expansive open floorplan that seamlessly connects the kitchen, dining area and family room, creating a warm and inviting space perfect for hosting gatherings. The contemporary design ensures every moment shared here is memorable. Retreat to the owner's suite strategically positioned in a private rear corner of the home. This sanctuary offers an en-suite bathroom ad spacious walk-in-closet, promising comfort and convenience. Additionally, this home features two charming secondary bedrooms designed with comfort in mind. The Oakridge Plan combines elegance with functionality, making it perfect choice for those seeking style with substance. Come see this never lived in home today! Washer, dryer and Fridge included.

20. 2025-10-31
    soldstatus Closed 513-char remark

    Show marketing remark (513 chars)

    NEW! Lennar Core Cottage "Oakridge" Plan with Brick Elevation J3 in Synova! This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. 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 along the side of the home, which are comfortable spaces for household members and overnight guests.

21. 2025-10-09
    status Pending 513-char remark

    Show marketing remark (513 chars)

    NEW! Lennar Core Cottage "Oakridge" Plan with Brick Elevation J3 in Synova! This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. 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 along the side of the home, which are comfortable spaces for household members and overnight guests.

22. 2025-10-08
    price $185,000 513-char remark

    Show marketing remark (513 chars)

    NEW! Lennar Core Cottage "Oakridge" Plan with Brick Elevation J3 in Synova! This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. 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 along the side of the home, which are comfortable spaces for household members and overnight guests.

23. 2025-10-08
    price $239,990 513-char remark

    Show marketing remark (513 chars)

    NEW! Lennar Core Cottage "Oakridge" Plan with Brick Elevation J3 in Synova! This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. 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 along the side of the home, which are comfortable spaces for household members and overnight guests.

24. 2025-10-07
    listed $239,990 Active 513-char remark

    Show marketing remark (513 chars)

    NEW! Lennar Core Cottage "Oakridge" Plan with Brick Elevation J3 in Synova! This single-level home showcases a spacious open floorplan shared between the kitchen, dining area and family room for easy entertaining during gatherings. 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 along the side of the home, which are comfortable spaces for household members and overnight guests.

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

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $1,179 · $98/mo
• Projected year-2 tax: $3,404 · $284/mo
• Expected delta: +$2,224/yr (+$185/mo · 188.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $23,565
• − Mortgage interest: −$10,418
• − Property taxes: −$1,179
• − Insurance: −$930
• − Repairs & maintenance: −$1,885
• − Management: −$1,885
• − HOA: −$2,304
• − Depreciation: −$5,411
• Taxable loss: −$448
• Est. tax savings @ 24.0%: +$107
• After-tax cash flow: $2,606/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.

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

-22.5% since first listed

11 events — show timeline

• 2026-04-28 Price Changed $185,990 HARMLS
• 2026-03-14 Price Changed $190,000 HARMLS
• 2026-01-09 Price Changed $195,990 HARMLS
• 2025-12-29 Price Changed $205,990 HARMLS
• 2025-12-12 Price Changed $215,990 HARMLS
• 2025-11-28 Listed $235,990 HARMLS
• 2025-10-31 Sold (MLS) — HARMLS
• 2025-10-09 Pending — HARMLS
• 2025-10-08 Price Changed $185,000 HARMLS
• 2025-10-08 Price Changed $239,990 HARMLS
• 2025-10-07 Listed $239,990 HARMLS