719 Salto Shipwreck Ln · Crosby, TX 77532

$215,990

3 bd · 2.0 ba · 1,260 sqft · Land · 66 Days on market

Built 2026 $171/sqft · 16% below area Est $258k · 16% under $54/mo HOA · 3% of rent ↓ 15% since listing

---

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 +21.6/30.0
• ARV discount +14.8/15.0
• DSCR +6.9/10.0
• 1% rule +5.0/10.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Beckman Floor Plan - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner’s suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• Adjoining bathroom
• Private corner
• Owner's suite

Tags

• OPEN-CONCEPT LAYOUT
• MULTI-FUNCTIONAL KITCHEN
• OWNER'S SUITE
• ADJOINING BATHROOM
• PRIVATE CORNER
• TWO SECONDARY BEDROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $216k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $216k).
• Recommended offer: $203k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% vs local median 4.8% in Crosby — 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 59/100 on livability (#1,121 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: amenities F, commute F, employment 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); Crosby H S (math 44% / reading 45%, grade F, #652 of 1,632 statewide, top 43%, 1,937 students, 54% FRL).
• Market conditions: Rents rising (+1.5%/yr); 1189 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 $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 66 days — a 6% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $48k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $203,030 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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. 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: 1.00% ✓
• Cap rate: 8.12%
• Cash-on-cash: 6.53%
• DSCR: 1.29
• GRM: 8.3

CMA / ARV

• ARV (median comp): $258,154
• List price: $215,990
• Delta: -16.33%
• 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: -7.9%
• Equity multiple: 0.71×
• Total profit: $-17,333
• Equity at exit: $32,205

10-year hold

• IRR: -0.3%
• Equity multiple: 0.98×
• Total profit: $-1,211
• Equity at exit: $18,675

Cash invested: $60,477 (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: 1189
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,160 medium
• Mortgage (P&I): −$1,133
• Tax from tax record: −$101 /mo · $1,207/yr
• Insurance: −$90
• HOA: −$54
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $329

Break-even live

Break-even rent $1,743

Max offer price $215,990

Occupancy floor 80%

Sensitivity live

Price	-10% $451	-5% $390	+0% $329	+5% $268	+10% $207
Rent	-10% $158	-5% $244	+0% $329	+5% $414	+10% $500
Rate	-1.0pp $438	-0.5pp $384	base $329	+0.5pp $273	+1.0pp $216

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: $53,998
• Closing costs: $6,480
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 Fishhawk Way Crosby, TX	3.0	2.0	1369	$1,783	$1.30	1d	1	1.02mi
711 Equinox St Crosby, TX	3.0	2.0	1802	$1,881	$1.04	45d	1	1.48mi

HOA detail

• Monthly dues: $54 · $648/yr

Listing history 27 events

1. 2026-06-21
   days on market $215,990 Active 66 DOM
2. 2026-06-18
   days on market $215,990 Active 63 DOM
3. 2026-06-18
   price $215,990 Active 62 DOM
4. 2026-06-17
   days on market $218,990 Active 62 DOM
5. 2026-06-16
   days on market $218,990 Active 61 DOM
6. 2026-06-15
   remarks 600-char remark
7. 2026-06-15
   days on market $218,990 Active 60 DOM
8. 2026-06-13
   days on market $218,990 Active 58 DOM
9. 2026-06-09
   days on market $218,990 Active 54 DOM
10. 2026-06-08
    days on market $218,990 Active 53 DOM
11. 2026-06-07
    days on market $218,990 Active 52 DOM
12. 2026-06-04
    days on market $218,990 Active 49 DOM
13. 2026-06-03
    days on market $218,990 Active 48 DOM
14. 2026-06-02
    days on market $218,990 Active 47 DOM
15. 2026-06-01
    days on market $218,990 Active 46 DOM
16. 2026-05-31
    days on market $218,990 Active 45 DOM
17. 2026-05-19
    price $225,690 567-char remark

    Show marketing remark (567 chars)

    The Beckman Floor Plan - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner’s suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

18. 2026-05-12
    price $222,490 380-char remark

    Show marketing remark (380 chars)

    This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer.

19. 2026-05-11
    price $222,490 567-char remark

    Show marketing remark (567 chars)

    The Beckman Floor Plan - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner’s suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

20. 2026-05-08
    price $214,990 380-char remark

    Show marketing remark (380 chars)

    This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer.

21. 2026-05-07
    price $214,990 567-char remark

    Show marketing remark (567 chars)

    The Beckman Floor Plan - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner’s suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

22. 2026-05-01
    price $247,240 380-char remark

    Show marketing remark (380 chars)

    This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer.

23. 2026-04-30
    price $247,240 567-char remark

    Show marketing remark (567 chars)

    The Beckman Floor Plan - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner’s suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

24. 2026-04-28
    price $239,990 380-char remark

    Show marketing remark (380 chars)

    This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer.

25. 2026-04-27
    price $239,990 567-char remark

    Show marketing remark (567 chars)

    The Beckman Floor Plan - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner’s suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

26. 2026-04-16
    listed $263,990 Active 567-char remark

    Show marketing remark (567 chars)

    The Beckman Floor Plan - This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner’s suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

27. 2026-04-10
    listed $263,990 Active 380-char remark

    Show marketing remark (380 chars)

    This new home is conveniently laid out on a single floor for maximum comfort and convenience. At its heart stands an open-concept layout connecting a spacious family room, a multi-functional kitchen and lovely dining area. The owner's suite is situated in a private corner and comes complete with an adjoining bathroom, while the two secondary bedrooms are located near the foyer.

ⓘ 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: $1,207 · $101/mo
• Projected year-2 tax: $3,953 · $329/mo
• Expected delta: +$2,746/yr (+$229/mo · 227.5%)

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

Taxation est. · year 1

• Rental income: $25,919
• − Mortgage interest: −$12,099
• − Property taxes: −$1,207
• − Insurance: −$1,080
• − Repairs & maintenance: −$2,074
• − Management: −$2,074
• − HOA: −$648
• − Depreciation: −$6,283
• Taxable income: $455
• Est. tax owed @ 24.0%: −$109
• After-tax cash flow: $3,840/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 — Crosby

• Score: 59/100
• State rank: #1121
• US rank: #19783

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harris County · 4,702,590 people
• City population: 33,780
• 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

-14.5% since first listed

11 events — show timeline

• 2026-05-19 Price Changed $225,690 HARMLS
• 2026-05-12 Price Changed $222,490 Zillow
• 2026-05-11 Price Changed $222,490 HARMLS
• 2026-05-08 Price Changed $214,990 Zillow
• 2026-05-07 Price Changed $214,990 HARMLS
• 2026-05-01 Price Changed $247,240 Zillow
• 2026-04-30 Price Changed $247,240 HARMLS
• 2026-04-28 Price Changed $239,990 Zillow
• 2026-04-27 Price Changed $239,990 HARMLS
• 2026-04-16 Listed $263,990 HARMLS
• 2026-04-10 Listed $263,990 Zillow