1914 Lenora Ct · Houston, TX 77493

$315,000

3 bd · 2.0 ba · 2,764 sqft · SingleFamily public records · 2 Days on market

Built 2007 5,501 sqft lot Est $357k · 12% under $48/mo HOA · 2% 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).

• ARV discount +12.7/15.0
• Cash flow +8.0/30.0
• Schools +5.7/10.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

INVESTMENT OPPORTUNITY! Currently tenant-occupied, this well-maintained home at 1914 Lenora Ct offers a functional floor plan with spacious living and dining areas, multiple bedrooms, and abundant natural light throughout. The property features a comfortable layout designed for everyday living, ample kitchen storage, and outdoor space for relaxation or entertaining. Located on a cul-de-sac in an established Katy community with convenient access to major highways, shopping, dining, schools, and employment centers. This property presents an excellent opportunity for investors seeking a stable income-producing asset in a desirable location. Showings by appointment only with a minimum 48-hour n

Key facts

• Convenient access
• Cul de sac lot
• 5,501 sq ft lot

Tags

• CUL DE SAC LOT
• ESTABLISHED COMMUNITY
• CONVENIENT ACCESS

Property features AI

Finance

• Other: Seller disclosure available
• Financial info: Lease considered
• HOA & community: Lakecrest community association with an annual fee of $575

Exterior

• Parking: 2-car garage; Garage parking
• Security: Controlled access
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 2007; Slab foundation; Composition roof
• Construction: Brick construction
• Exterior features: Covered patio; Deck; Patio; Fenced backyard; Sprinkler/irrigation; Located in a subdivision; Cul-de-sac lot

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Microwave
• Bedrooms: 3 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Breakfast bar; Pantry; Window treatments; Free-standing fireplace (1)

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $315k.

Deal economics

• At list price, monthly cash flow is $-320 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $259k (17.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (12.7% below list).
• Recommended offer: $259k (17.9% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 3.1% 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.
• Katy ISD (suburban): math 61% / reading 63% proficiency, ranked #29 of 826 in TX (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Robert King El (math 41% / reading 44%, grade F, #1,313 of 4,322 statewide, top 31%, 981 students, 68% FRL); Katy J H (math 52% / reading 51%, grade C, #318 of 1,662 statewide, top 20%, 1,094 students, 53% FRL); Katy H S (math 62% / reading 74%, grade B, #150 of 1,632 statewide, top 10%, 3,330 students, 38% FRL) — zoned schools average 53% FRL vs 27% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.8%/yr); 2729 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 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 $9k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.
• 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 $258,509 (17.9% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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 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. 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?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 5.07%
• Cash-on-cash: -4.35%
• DSCR: 0.81
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $356,556
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
25043 Lenora Dr	0.08mi	4/2.5 (+1)	2,873 (+4%)	5mo	$334,990	$117	78
24514 Lake Path Cir	0.23mi	4/2.5 (+1)	2,921 (+6%)	3mo	$364,900	$125	71
25007 Lenora Dr	0.06mi	4/2.5 (+1)	2,443 (-12%)	6mo	$324,990	$133	66
24311 Lanning Dr	0.46mi	4/3.5 (+1)	2,820 (+2%)	1mo	$405,000	$144	64
24802 Colonial Maple Dr	0.46mi	4/2.5 (+1)	2,637 (-5%)	3mo	$334,999	$127	61
24202 Dan River Dr	0.57mi	4/2.5 (+1)	2,702 (-2%)	2mo	$285,000	$105	61
24306 Lanning Dr	0.46mi	4/2.5 (+1)	2,629 (-5%)	4mo	$338,000	$129	60
24735 Colonial Maple Dr	0.49mi	4/3.5 (+1)	2,802 (+1%)	7mo	$333,000	$119	58
25115 Lakecrest Glen Dr	0.68mi	4/3.5 (+1)	2,703 (-2%)	1mo	$359,900	$133	53
5084 Morrison Blvd	0.55mi	3/2.5	2,406 (-13%)	1mo	$365,000	$152	50
1247 S Maple Dr	0.66mi	4/3.5 (+1)	2,932 (+6%)	1mo	$375,000	$128	48
1719 Charlton House Ln	0.75mi	4/2.5 (+1)	2,476 (-10%)	0mo	$339,990	$137	40

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: -27.5%
• Equity multiple: 0.10×
• Total profit: $-79,236
• Equity at exit: $46,968

10-year hold

• IRR: -45.7%
• Equity multiple: -0.42×
• Total profit: $-125,420
• Equity at exit: $27,235

Cash invested: $88,200 (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 77493

• Rents YoY: -0.8%
• Active inventory: 2729
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,751 medium
• Mortgage (P&I): −$1,652
• Tax from tax record: −$662 /mo · $7,941/yr
• Insurance: −$131
• HOA: −$48
• Vacancy / Maint / Mgmt: −$578
• Net cashflow: $-320

Break-even live

Break-even rent $3,156

Max offer price $258,509

Occupancy floor —

Sensitivity live

Price	-10% $-141	-5% $-231	+0% $-320	+5% $-409	+10% $-498
Rent	-10% $-537	-5% $-428	+0% $-320	+5% $-211	+10% $-102
Rate	-1.0pp $-161	-0.5pp $-240	base $-320	+0.5pp $-401	+1.0pp $-484

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: $78,750
• Closing costs: $9,450
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1739 Palmetto Park Dr Katy, TX	4.0	3.5	2998	$3,100	$1.03	45d	1	0.30mi
2222 Princess Snow Cir Katy, TX	4.0	2.5	2958	$2,425	$0.82	14d	1	1.11mi
3031 Bugatti Dr Katy, TX	3.0	2.5	2100	$1,700	$0.81	26d	1	1.38mi
1724 Partnership Way Katy, TX	3.0	1.0–3.5	1536	$3,340	$2.17	0d	86	1.43mi
24907 Bastiani Canvas Ln Katy, TX	4.0	2.5	2018	$2,200	$1.09	45d	1	1.49mi

HOA detail

• Monthly dues: $48 · $576/yr

Listing history 2 events

1. 2026-06-21
   remarks 699-char remark
2. 2026-06-21
   listed $315,000 Active 2 DOM

ⓘ 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: $7,941 · $662/mo
• Projected year-2 tax: $7,941 · $662/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,009
• − Mortgage interest: −$17,645
• − Property taxes: −$7,941
• − Insurance: −$1,575
• − Repairs & maintenance: −$2,641
• − Management: −$2,641
• − HOA: −$576
• − Depreciation: −$9,164
• Taxable loss: −$9,173
• Est. tax savings @ 24.0%: +$2,201
• After-tax cash flow: $-1,636/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: Katy ISD
• NCES district ID: 4825170
• Math proficiency: 61% ▼ -7.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $90,312
• Composite: 56.59/100
• National rank: #1146
• State rank: #29 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): 71,484
• Household income: $118,464
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 913.0

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: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 36% Hispanic / Latino 33% Two or more races 16% Black 15% Asian 12%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 21% · Canada, Vietnam, Jamaica
• Languages at home: 64% English-only · Spanish 22% Vietnamese 5% French/Haitian/Cajun 4%

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: ▼ -140.65%
• Current HPI: 233.1683
• Rent YoY: ▼ -0.80%
• 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

3 events — show timeline

• 2026-06-18 Listed $315,000 HARMLS
• 2023-09-27 Sold (Public Records) — Public Records
• 2023-07-15 Rental Removed — HARMLS

Property tax history

+7.6%/yr

Latest (2025): $7,941 · +3.2% YoY. Source: county tax records.