Sunterra Rowan 2104 Plan · Katy, TX 77493

$304,990

3 bd · 2.0 ba · 2,167 sqft · SingleFamily · 220 Days on market

Good condition Garage

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +7.0/30.0
• Schools +5.4/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +2.3/5.0
• 1% rule +1.9/10.0
• DSCR +1.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Sunterra brings a kind of excitement you won't find anywhere else in Katy, offering a lifestyle that feels fresh, inspired, and truly one-of-a-kind. Resort-style amenities, stunning water attractions, and thoughtful gathering spaces create a community experience that stands apart, giving residents more ways to relax, play, and enjoy time together. Its convenient location keeps shopping, dining, and major thoroughfares close at hand. Sunterra is where fun, comfort, and something truly special come together.

Key facts

• 2 garage spots
• Listed 219 days

🏗️ New construction. The $304,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $381,864.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $305k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-556 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $301k (1.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $264k (13.5% below list).
• Recommended offer: $264k (13.5% below list) — sets the bar for 1% rule.
• Cap rate 4.5% vs local median 3.4% in Katy — 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 76/100 on livability (#111 in TX, #3,613 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: crime C-, amenities D, commute 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); 4476 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 53d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% 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 $3k of loan paydown is wiped out by about $11k 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 220 days — a 12% lower offer ($268k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $263,671 (13.5% 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 220 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
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 B-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: 0.69% ✗
• Cap rate: 4.55%
• Cash-on-cash: -6.24%
• DSCR: 0.72
• GRM: 12.1

CMA / ARV

• ARV (median comp): $381,864
• List price: $304,990
• Delta: -20.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27134 Talora Lake Dr	0.06mi	3/2.5	2,012 (-7%)	1mo	$338,893	$168	83
4959 Shimmer Side Dr	0.09mi	4/2.5 (+1)	1,948 (-10%)	3mo	$305,000	$157	69
5053 Marcasca Dr	0.66mi	3/2.5	2,164 (-0%)	2mo	$367,900	$170	65
4960 Pismo Ray Dr	0.19mi	4/2.5 (+1)	2,412 (+11%)	4mo	$284,999	$118	62
5619 Teal Marlene Dr	0.63mi	4/3.0 (+1)	2,140 (-1%)	3mo	$410,525	$192	57
1604 Daylight Lake Dr	0.39mi	4/2.0 (+1)	1,862 (-14%)	1mo	$279,900	$150	52
4636 Peony Green Dr	0.56mi	3/2.0	1,882 (-13%)	1mo	$299,990	$159	51
4777 Luna Landing Dr	0.74mi	4/3.0 (+1)	2,098 (-3%)	0mo	$370,528	$177	51
1028 Open Sky Dr	0.66mi	3/2.0	2,448 (+13%)	3mo	$400,000	$163	45
4664 Peony Green Dr	0.60mi	4/2.5 (+1)	2,425 (+12%)	0mo	$334,990	$138	45
4709 Bakers Landing Dr	0.69mi	3/2.0	1,865 (-14%)	4mo	$349,407	$187	42
4605 Green Arobol Ln	0.66mi	4/2.5 (+1)	2,430 (+12%)	4mo	$339,990	$140	39

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: -30.4%
• Equity multiple: 0.02×
• Total profit: $-104,976
• Equity at exit: $56,937

10-year hold

• IRR: -52.1%
• Equity multiple: -0.56×
• Total profit: $-166,709
• Equity at exit: $33,017

Cash invested: $106,922 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 275 active · 107 under contract
• Months of supply: 18.8 mo (5%/mo absorbed)
• Median asking: $344,990 ($163/sqft)
• Median days on market: 121 d
• This list price: 20% of active listings are priced below it
• ARV vs active asking: +8.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77493

• Rents YoY: -0.8%
• Active inventory: 4476
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $2,637 high
• Mortgage (P&I): −$2,003
• Tax est. 1.5%: −$477 /mo · $5,728/yr
• Insurance: −$159
• HOA: −$0
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $-556

Break-even live

Break-even rent $3,340

Max offer price $301,413

Occupancy floor —

Sensitivity live

Price	-10% $-292	-5% $-424	+0% $-556	+5% $-688	+10% $-820
Rent	-10% $-764	-5% $-660	+0% $-556	+5% $-452	+10% $-348
Rate	-1.0pp $-364	-0.5pp $-459	base $-556	+0.5pp $-655	+1.0pp $-756

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: $95,466
• Closing costs: $11,456
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4946 Skybluff Dr Katy, TX	4.0	3.0	2410	$2,650	$1.10	119d	1	0.11mi
5118 Winslow Grove Dr Katy, TX	3.0	2.0	1856	$2,200	$1.19	10d	1	0.18mi
5118 Winslow Grove Dr Katy, TX	3.0	2.0	1856	$2,200	$1.19	26d	1	0.18mi
27115 River Birch Ridge Dr Katy, TX	4.0	2.0	1863	$2,275	$1.22	36d	1	0.26mi
4806 Sand Clouds Dr Katy, TX	4.0	2.5	2752	$3,095	$1.12	3d	1	0.28mi
4806 Sand Clouds Dr Katy, TX	4.0	2.5	2752	$3,095	$1.12	31d	1	0.28mi
27147 Breakaway Ln Katy, TX	4.0	2.5	2135	$2,295	$1.07	24d	1	0.30mi
5310 Paradise Cove Ln Katy, TX	4.0	4.0	2688	$3,000	$1.12	2d	1	0.32mi
5310 Paradise Cove Ln Katy, TX	4.0	4.0	2688	$3,000	$1.12	21d	1	0.32mi
27064 Beach Ball Dr Katy, TX	3.0–4.0	2.5–3.5	1758	$2,206	$1.25	0d	23	0.38mi
1495 Twilight Green Dr Katy, TX	3.0	2.5	2000	$2,400	$1.20	184d	1	0.41mi
27111 Newport Trace Ln Unit 27111 Katy, TX	4.0	3.5	2489	$2,650	$1.06	10d	1	0.42mi
1496 Twilight Green Dr Katy, TX	4.0	2.5	2135	$2,500	$1.17	119d	1	0.42mi
27035 Beacon Glen Dr Katy, TX	3.0	2.0	1824	$2,500	$1.37	93d	1	0.45mi
27035 Beacon Glen Dr Katy, TX	2.0–4.0	2.0–3.5	1890	$2,398	$1.27	0d	26	0.45mi
27035 Beacon Glen Dr Katy, TX	2.0–4.0	2.0–3.0	1890	$3,049	$1.61	104d	24	0.45mi
27035 Beacon Glen Dr Unit 315 Katy, TX	3.0	2.0	1493	$2,418	$1.62	92d	1	0.45mi
4607 Dana Cove Dr Katy, TX	4.0	3.0	2152	$2,500	$1.16	10d	1	0.50mi
4696 Peony Green Dr Katy, TX	4.0	2.0	2156	$2,395	$1.11	65d	1	0.62mi
5631 Pearl Vista Dr Katy, TX	4.0	3.0	2039	$3,000	$1.47	114d	1	0.66mi
5631 Pearl Vista Dr Katy, TX	3.0	2.5	2116	$3,050	$1.44	3d	1	0.66mi
5631 Pearl Vista Dr Katy, TX	4.0	3.0	2039	$3,000	$1.47	83d	1	0.66mi
5631 Pearl Vista Dr Katy, TX	4.0	3.0	2039	$3,000	$1.47	2d	1	0.66mi
5631 Pearl Vista Dr Katy, TX	4.0	3.0	2039	$3,000	$1.47	161d	1	0.66mi
5631 Pearl Vista Dr Katy, TX	4.0	3.0	2039	$3,000	$1.47	130d	1	0.66mi
5631 Pearl Vista Dr Katy, TX	3.0	2.5	2116	$3,050	$1.44	96d	1	0.66mi
27327 Blue Pool Dr Unit 27327 Katy, TX	4.0	3.0	2100	$2,600	$1.24	92d	1	0.78mi
5810 Linda Cove Ln Katy, TX	4.0	2.5	2465	$2,600	$1.05	14d	1	0.80mi
5810 Linda Cove Ln Katy, TX	4.0	2.5	2465	$2,600	$1.05	3d	1	0.80mi
408 Camino Bay Dr Katy, TX	3.0	2.5	1681	$1,200	$0.71	7d	1	0.80mi
1024 Greenshank Dr Katy, TX	4.0	3.0	2390	$2,900	$1.21	53d	1	0.81mi
1008 Caramel Shores Dr Katy, TX	4.0	3.0	2492	$3,100	$1.24	10d	1	0.83mi
5819 Bright Keel Dr Katy, TX	4.0	3.0	2598	$2,400	$0.92	184d	1	0.84mi
5822 Majestic Sky Dr Katy, TX	3.0	2.5	1634	$2,249	$1.38	65d	1	0.85mi
409 Aurora Creek Ln Katy, TX	4.0	3.0	1964	$2,100	$1.07	113d	1	0.94mi
808 Marisol Bay Dr Katy, TX	4.0	3.0	2423	$2,695	$1.11	81d	1	1.02mi
26123 Venus Trap Trl Cypress, TX	4.0	2.5	1785	$2,200	$1.23	100d	1	1.02mi
3057 Pensacola Dr Katy, TX	4.0	2.5	1840	$2,200	$1.20	29d	1	1.03mi
27507 Hudson Sands Ln Katy, TX	4.0	3.0	2294	$3,000	$1.31	0d	1	1.08mi
27507 Hudson Sands Ln Katy, TX	4.0	3.0	2294	$3,000	$1.31	157d	1	1.09mi

Property features AI

Finance

• Financial info: List price $344,990

Exterior

• Parking: 2 garage spaces (2 total parking spaces)
• Home design: New construction plan
• Exterior features: Living area approximately 2,167

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan home (Sunterra Rowan 2104)

Listing history 50 events

1. 2026-11-08
   days on market $304,990 Active 220 DOM
2. 2026-11-07
   days on market $304,990 Active 219 DOM
3. 2026-11-06
   days on market $304,990 Active 218 DOM
4. 2026-11-05
   days on market $304,990 Active 217 DOM
5. 2026-11-04
   days on market $304,990 Active 216 DOM
6. 2026-11-02
   days on market $304,990 Active 214 DOM
7. 2026-11-01
   days on market $304,990 Active 213 DOM
8. 2026-10-31
   days on market $304,990 Active 212 DOM
9. 2026-10-30
   days on market $304,990 Active 211 DOM
10. 2026-10-29
    days on market $304,990 Active 210 DOM
11. 2026-10-28
    days on market $304,990 Active 209 DOM
12. 2026-10-27
    days on market $304,990 Active 208 DOM
13. 2026-10-26
    days on market $304,990 Active 207 DOM
14. 2026-10-26
    days on market $304,990 Active 206 DOM
15. 2026-10-24
    days on market $304,990 Active 205 DOM
16. 2026-10-23
    days on market $304,990 Active 204 DOM
17. 2026-10-22
    days on market $304,990 Active 203 DOM
18. 2026-10-21
    days on market $304,990 Active 202 DOM
19. 2026-10-20
    days on market $304,990 Active 201 DOM
20. 2026-10-19
    days on market $304,990 Active 200 DOM
21. 2026-10-18
    days on market $304,990 Active 199 DOM
22. 2026-10-17
    days on market $304,990 Active 198 DOM
23. 2026-10-16
    days on market $304,990 Active 197 DOM
24. 2026-10-15
    days on market $304,990 Active 196 DOM
25. 2026-10-14
    days on market $304,990 Active 195 DOM
26. 2026-10-13
    days on market $304,990 Active 194 DOM
27. 2026-10-12
    days on market $304,990 Active 193 DOM
28. 2026-10-11
    days on market $304,990 Active 192 DOM
29. 2026-10-10
    days on market $304,990 Active 191 DOM
30. 2026-10-09
    days on market $304,990 Active 190 DOM
31. 2026-10-08
    days on market $304,990 Active 189 DOM
32. 2026-10-07
    days on market $304,990 Active 188 DOM
33. 2026-10-06
    days on market $304,990 Active 187 DOM
34. 2026-10-05
    days on market $304,990 Active 186 DOM
35. 2026-10-04
    days on market $304,990 Active 185 DOM
36. 2026-10-04
    days on market $304,990 Active 184 DOM
37. 2026-10-02
    days on market $304,990 Active 183 DOM
38. 2026-10-01
    days on market $304,990 Active 182 DOM
39. 2026-09-30
    days on market $304,990 Active 181 DOM
40. 2026-09-29
    days on market $304,990 Active 180 DOM
41. 2026-09-28
    days on market $304,990 Active 179 DOM
42. 2026-09-27
    days on market $304,990 Active 178 DOM
43. 2026-09-26
    days on market $304,990 Active 177 DOM
44. 2026-09-25
    days on market $304,990 Active 176 DOM
45. 2026-09-24
    days on market $304,990 Active 175 DOM
46. 2026-09-23
    days on market $304,990 Active 174 DOM
47. 2026-09-22
    days on market $304,990 Active 173 DOM
48. 2026-09-21
    days on market $304,990 Active 172 DOM
49. 2026-09-20
    days on market $304,990 Active 171 DOM
50. 2026-09-19
    days on market $304,990 Active 170 DOM

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 22 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,641
• − Mortgage interest: −$21,390
• − Property taxes: −$5,728
• − Insurance: −$1,909
• − Repairs & maintenance: −$2,531
• − Management: −$2,531
• − Depreciation: −$11,109
• Taxable loss: −$13,558
• Est. tax savings @ 24.0%: +$3,254
• After-tax cash flow: $-3,418/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 · 2 photos

Good 80/100 Cosmetic rehab Est. rehab $10,835–$32,505 screening

This home is in good condition with a good curb appeal and interior. It is ready for a fresh coat of paint and some landscaping to further enhance its value.

Value-add opportunities

• Both Painting the exterior — Enhances curb appeal and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑
• Both Interior touch-ups — Enhances interior appearance and value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary Robert King El F TX #1,313/4,322 Nat'l #17,692/41,679 Middle Katy J H C TX #318/1,662 Nat'l #3,192/14,009 High Katy H S B TX #150/1,632 Nat'l #2,439/17,239

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

B Composite livability gradescore 76/100

Livability — Katy

• Score: 76/100
• State rank: #111
• US rank: #3613

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harris County · 5,571,493 people
• City population: 413,575
• 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: 21% of renters

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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%

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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%
• Languages at home: 64% English-only · Spanish 22% Vietnamese 5% French/Haitian/Cajun 4%

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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

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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

Property features AI

Finance

• Financial info: List price $344,990

Exterior

• Parking: 2 garage spaces (2 total parking spaces)
• Home design: New construction plan
• Exterior features: Living area approximately 2,167

Interior

• Bedrooms: 3 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan home (Sunterra Rowan 2104)