2703 Glenn Lakes Ln

Missouri City, TX 77459

$270,000C-

4 bd · 3.0 ba · 2,437 sqft · Built 1979 · SingleFamily · Active · 10 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,547/mo
• Mortgage (P&I): −$1,416
• Tax + insurance: −$662
• HOA: −$39
• Vac / Maint / Mgmt: −$535
• Net cashflow: $-105/mo
• Annual: $-1,261/yr
• Cap rate: 5.83%
• Cash-on-cash: -1.67%
• DSCR: 0.93
• 1% rule: 0.94%
• Cash to close: $75,600

Investor read

• This is a 4-bed/3.0-bath single-family listed at $270k.
• At list price, monthly cash flow is $-105 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $251k (6.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $255k (5.7% below list).
• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $251k (6.9% below list) — sets the bar for cash-flow.
• Local home prices are declining (-1.7%/yr); year-one equity from $2k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Location reads 67/100 on livability (#526 in TX) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, employment A; Watch: amenities F, commute F, health & safety F.
• Fort Bend ISD (suburban): math 44% / reading 53% proficiency, ranked #140 of 826 in TX (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Quail Valley El (math 27% / reading 42%, grade F, #1,995 of 4,322 statewide, top 50%, 564 students, 64% FRL); Quail Valley Middle (math 55% / reading 57%, grade B-, #234 of 1,662 statewide, top 14%, 1,043 students, 45% FRL) — zoned schools average 55% FRL vs 35% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.1%/yr); 1215 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 12,093 units permitted in Fort Bend County in 2024 (815 in 5+ unit buildings).
• Fort Bend County population projected at +75% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 3.5% in Missouri City — 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.

Questions for listing agent

• 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?
• Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.