Charlotte Plan · Pearland, TX 77581

$109,900

3 bd · 2.0 ba · 1,165 sqft · Manufactured · 35 Days on market

Excellent condition $850/mo HOA · 42% of rent

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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).

• 1% rule +8.5/10.0
• ARV discount +7.5/15.0
• Cash flow +6.0/30.0
• Schools +5.4/10.0
• Condition / age +4.8/5.0
• Livability +4.0/5.0
• Rent growth +3.2/5.0
• DSCR +0.4/10.0
• Appreciation +0.0/10.0

Listing remarks

The Charlotte is a well-designed manufactured home offering 1,165 square feet of comfortable living space with 3 bedrooms and 2 bathrooms. This single-section home features an open-concept floor plan that creates a seamless flow between the living room, kitchen, and dining area, making it ideal for both everyday living and entertaining.

Key facts

• Listed 35 days

Property features AI

Finance

• Other: List price: $109,900; Status: Active
• HOA & community: Association fee: $850

Exterior

• Utilities: Electric heating (forced air); Central air conditioning
• Home design: New construction plan; Address: Charlotte Plan, Pearland, TX 77581
• Construction: Living area approximately 1,165 (living area reported)
• Exterior features: Shake roof

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Heating & cooling: Electric forced-air heating; Central air conditioning
• Interior features: Plan: Charlotte

🏗️ New construction. The $109,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $150,000.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $110k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-286 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $109k (1.2% below list).
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $107k (3.0% below list) — sets the bar for market timing.
• Cap rate 4.0% vs local median 3.0% in Pearland — 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 81/100 on livability (#32 in TX, #1,539 nationally) — a professional / high-income tenant draw. Strengths: schools A+, employment A+, housing A+; Watch: amenities D-, commute F.
• Pearland ISD (suburban): math 58% / reading 59% proficiency, ranked #47 of 826 in TX (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+2.9%/yr); 316 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 3,960 units permitted in Brazoria County in 2024 (593 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 $4k of value loss. Plan a longer hold.
• Brazoria County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $106,603 (3.0% 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 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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: 1.35% ✓
• Cap rate: 4.00%
• Cash-on-cash: -8.18%
• DSCR: 0.64
• GRM: 6.2

CMA / ARV

• ARV (median comp): $150,000
• List price: $109,900
• Delta: -26.73%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.94% rent growth · sell at horizon

5-year hold

• IRR: -30.2%
• Equity multiple: -0.00×
• Total profit: $-42,113
• Equity at exit: $22,365

10-year hold

• IRR: -30.1%
• Equity multiple: -0.39×
• Total profit: $-58,409
• Equity at exit: $12,969

Cash invested: $42,000 (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 77581

• Home prices YoY: -29.1%
• Rents YoY: 2.9%
• Active inventory: 316
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $2,026 medium
• Mortgage (P&I): −$787
• Tax est. 1.5%: −$188 /mo · $2,250/yr
• Insurance: −$62
• HOA: −$850
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $-286

Break-even live

Break-even rent $2,388

Max offer price $108,567

Occupancy floor —

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Stoneledge Dr Friendswood, TX	3.0	2.0	1268	$1,995	$1.57	24d	1	1.34mi

HOA detail

• Monthly dues: $850 · $10,200/yr

Listing history 14 events

1. 2026-06-18
   days on market $109,900 Active 35 DOM
2. 2026-06-17
   days on market $109,900 Active 34 DOM
3. 2026-06-16
   days on market $109,900 Active 33 DOM
4. 2026-06-15
   days on market $109,900 Active 32 DOM
5. 2026-06-13
   days on market $109,900 Active 30 DOM
6. 2026-06-09
   days on market $109,900 Active 26 DOM
7. 2026-06-08
   days on market $109,900 Active 25 DOM
8. 2026-06-07
   days on market $109,900 Active 24 DOM
9. 2026-06-04
   days on market $109,900 Active 21 DOM
10. 2026-06-03
    days on market $109,900 Active 20 DOM
11. 2026-06-02
    days on market $109,900 Active 19 DOM
12. 2026-06-01
    days on market $109,900 Active 18 DOM
13. 2026-05-31
    days on market $109,900 Active 17 DOM
14. 2026-05-14
    listed $109,900 Active 338-char remark

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°F today · 24 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: $24,308
• − Mortgage interest: −$8,402
• − Property taxes: −$2,250
• − Insurance: −$750
• − Repairs & maintenance: −$1,945
• − Management: −$1,945
• − HOA: −$10,200
• − Depreciation: −$4,364
• Taxable loss: −$5,547
• Est. tax savings @ 24.0%: +$1,331
• After-tax cash flow: $-2,105/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 · 19 photos

Excellent 95/100 None rehab

This well-maintained manufactured home offers a spacious and modern living space with excellent curb appeal and minimal repairs needed.

Value-add opportunities

• Both Landscaping — Enhances curb appeal and adds value
• Both Painting — Fresh paint can make a home look new
• Rental Appliance maintenance — Keeps appliances in top condition

Renovation cost estimate screening

Value-add ROI direction

• Both Landscaping — Enhances curb appeal and adds value ↑
• Both Painting — Fresh paint can make a home look new ↑
• Rental Appliance maintenance — Keeps appliances in top condition ↑

ⓘ 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: Pearland ISD
• NCES district ID: 4834440
• Math proficiency: 58% ▼ -13.00%
• Reading proficiency: 59% ▼ -6.00%
• Median HH income: $90,091
• Composite: 53.67/100
• National rank: #1430
• State rank: #47 of 826 in TX

Livability — Pearland

• Score: 81/100
• State rank: #32
• US rank: #1539

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brazoria County · 374,982 people
• City population: 142,397
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 51,332
• Household income: $111,139
• Rent vs Own: 22.9% rent · 77.1% own
• Severe rent burden: 826.0

Population outlook (Brazoria County) Hauer SSP2

• Today (2025): 420,414 people
• By 2030: 457,585 · +8.8%
• By 2040: 532,232 · +26.6%
• By 2050: 605,399 · +44.0%
• By 2075: 779,358 · +85.4%
• By 2100: 883,759 · +110.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 47% Hispanic / Latino 33% Two or more races 20% Black 10% Asian 7%
• Hispanic origin (detail): Mexican 26% Puerto Rican 2%
• Common ancestry: Lithuanian 2% Slovak 2% Romanian 2%
• Foreign-born: 12% · Canada, Vietnam, Guatemala
• Languages at home: 77% English-only · Spanish 16% Other Indo-European 3% Vietnamese 2%

Political lean MEDSL · Brazoria

• 2024 margin: R (+19.7) · D 39.5% · R 59.2% · Other 1.3%
• 2008→2024 swing: +9.9pp toward D · 2008: -29.6pp · 2024: -19.7pp
• All cycles: 2024: R+19.7 2020: R+18.2 2016: R+24.6 2012: R+34.2 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -100.56%
• Current HPI: 244.7942
• Rent YoY: ▲ 2.94%
• 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