Elgin Plan · Richmond, TX 77406

$360,990

4 bd · 2.0 ba · 1,912 sqft · SingleFamily · 83 Days on market

Good condition Garage

---

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
• Schools +6.2/10.0
• Cash flow +4.7/30.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.1/5.0
• 1% rule +0.6/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

The Elgin floor plan is a beautifully designed one-story home that balances functionality and style. Offering four bedrooms and two bathrooms, this layout provides generous living space ideal for families or those who love to entertain. The open-concept design seamlessly connects the kitchen, dining, and living areas, creating a bright and inviting atmosphere. The primary suite serves as a peaceful retreat with a well-appointed ensuite bathroom. A two-car garage adds convenience and additional storage options. Whether you're looking for a home that offers comfort, flexibility, or modern living, the Elgin floor plan is designed to meet your needs.

Key facts

• 2 garage spots
• Listed 82 days

🏗️ New construction. The $360,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $418,617.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $361k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-1k ($-13k/yr) — negative.
• To cash-flow at today's rent, offer at most $267k (26.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $233k (35.3% below list).
• Recommended offer: $233k (35.3% below list) — sets the bar for 1% rule.
• Cap rate 3.3% vs local median 2.6% in Richmond — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 70/100 on livability (#363 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: crime C-, amenities F, commute F.
• Lamar CISD (suburban): math 50% / reading 53% proficiency, ranked #116 of 826 in TX (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Joe Hubenak El (math 57% / reading 61%, grade B-, #455 of 4,322 statewide, top 11%, 1,214 students, 37% FRL); Briscoe J H (math 59% / reading 60%, grade B, #166 of 1,662 statewide, top 11%, 1,914 students, 38% FRL); Foster H S (math 64% / reading 74%, grade B, #141 of 1,632 statewide, top 9%, 2,388 students, 34% FRL).
• Market conditions: Rents soft (-1.6%/yr); 1947 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals lingering (median 75d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Fort Bend County population projected at +75% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 83 days — a 6% lower offer ($339k) 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→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $233,385 (35.3% 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 83 days. Have you received any prior offers? Is the seller open to a 35% 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. 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?
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: 0.56% ✗
• Cap rate: 3.29%
• Cash-on-cash: -10.74%
• DSCR: 0.52
• GRM: 14.9

CMA / ARV

• ARV (median comp): $418,617
• List price: $360,990
• Delta: -13.77%
• 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
10430 Starfire Yellow Dr	0.33mi	4/2.5	1,927 (+1%)	4mo	$399,990	$208	78
10711 Ashlesha Ln	0.13mi	3/2.0 (-1)	1,792 (-6%)	4mo	$335,000	$187	76
10422 Starfire Yellow Dr	0.33mi	4/3.0	1,878 (-2%)	4mo	$379,900	$202	75
10714 Maia Mills Ct	0.14mi	3/2.0 (-1)	1,762 (-8%)	4mo	$350,000	$199	72
10414 Starfire Yellow Dr	0.34mi	3/2.0 (-1)	1,755 (-8%)	4mo	$379,990	$217	62
26831 Concord Dawn Dr	0.46mi	4/3.0	1,785 (-7%)	4mo	$374,900	$210	60
11331 Elizabeth Brook Dr	0.67mi	3/2.0 (-1)	1,938 (+1%)	4mo	$304,900	$157	58
26722 Hypatia Trce	0.21mi	3/2.0 (-1)	1,632 (-15%)	4mo	$299,900	$184	58
26210 Christen Canyon Ln	0.72mi	4/2.0	1,997 (+4%)	3mo	$328,000	$164	57
26006 Golden Dawn Trl	0.49mi	4/3.0	2,082 (+9%)	2mo	$375,000	$180	57
11015 Overland Trail Dr	0.66mi	3/2.0 (-1)	1,710 (-11%)	0mo	$320,000	$187	46
26207 Christen Canyon Ln	0.68mi	3/2.5 (-1)	2,118 (+11%)	2mo	$350,000	$165	41

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: -39.1%
• Equity multiple: -0.21×
• Total profit: $-141,464
• Equity at exit: $62,417

10-year hold

• IRR: -82.7%
• Equity multiple: -1.01×
• Total profit: $-235,523
• Equity at exit: $36,194

Cash invested: $117,213 (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: 76 active · 50 under contract
• Months of supply: 12.3 mo (8%/mo absorbed)
• Median asking: $354,950 ($185/sqft)
• Median days on market: 60 d
• This list price: 55% of active listings are priced below it
• ARV vs active asking: +18.5% above current asking $/sqft

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

ZIP-level market 77406

• Home prices YoY: -26.2%
• Rents YoY: -1.6%
• Active inventory: 1947
• Price-to-rent: 12.9×

Monthly cashflow live

• Estimated rent: $2,334 high
• Mortgage (P&I): −$2,195
• Tax est. 1.5%: −$523 /mo · $6,279/yr
• Insurance: −$174
• HOA: −$0
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $-1,049

Break-even live

Break-even rent $3,662

Max offer price $266,792

Occupancy floor —

Sensitivity live

Price	-10% $-760	-5% $-905	+0% $-1,049	+5% $-1,194	+10% $-1,339
Rent	-10% $-1,234	-5% $-1,141	+0% $-1,049	+5% $-957	+10% $-865
Rate	-1.0pp $-838	-0.5pp $-943	base $-1,049	+0.5pp $-1,158	+1.0pp $-1,268

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: $104,654
• Closing costs: $12,559
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26831 Chandrila Vista Ct Richmond, TX	3.0	2.0	1740	$2,300	$1.32	75d	1	0.01mi
10503 Shinning Dawn Way Richmond, TX	4.0	3.5	2523	$3,399	$1.35	184d	1	0.39mi
10823 Capella Creek Way Richmond, TX	4.0	3.0	2388	$2,600	$1.09	73d	1	0.44mi
26138 Flinton Dr Richmond, TX	3.0	2.5	2365	$2,430	$1.03	3d	1	0.47mi
26339 Riley Glen Dr Unit Dr Richmond, TX	3.0	2.0	1900	$1,900	$1.00	16d	1	0.54mi
11419 Elizabeth Brook Dr Richmond, TX	4.0	2.5	2450	$2,150	$0.88	2d	1	0.73mi
10910 Brighton Gardens Dr Richmond, TX	3.0	2.0	2385	$2,595	$1.09	86d	1	0.85mi
25922 Bronze Oak Ct Richmond, TX	4.0	3.0	2073	$1,500	$0.72	10d	1	0.87mi
25922 Bronze Oak Ct Richmond, TX	4.0	3.0	2073	$1,500	$0.72	26d	1	0.87mi
25810 Palmdale Estate Dr Richmond, TX	4.0	2.0	2008	$2,350	$1.17	10d	1	0.89mi
26122 Serenity Oaks Dr Richmond, TX	4.0	3.0	2438	$2,236	$0.92	116d	1	0.97mi
9547 Summer River Dr Richmond, TX	4.0	2.0	1930	$2,300	$1.19	91d	1	1.16mi
6442 Applewood Forest Dr Katy, TX	3.0	2.0	1756	$1,650	$0.94	90d	1	1.18mi
6442 Applewood Forest Dr Katy, TX	3.0	2.0	1756	$1,650	$0.94	10d	1	1.18mi
26719 Henson Falls Dr Katy, TX	3.0	2.0	1315	$1,950	$1.48	184d	1	1.23mi
6411 Tea Tree Dr Katy, TX	4.0	2.5	2168	$6,325	$2.92	10d	1	1.39mi
6411 Tea Tree Dr Katy, TX	4.0	2.5	2168	$6,900	$3.18	184d	1	1.39mi
26439 Richwood Oaks Dr Katy, TX	3.0	2.0	1756	$2,050	$1.17	184d	1	1.40mi

Property features AI

Finance

• Financial info: List price $360,990

Exterior

• Parking: 2 garage spaces (2 parking spaces total)
• Home design: Single-family home (new construction)Entry labeled as Elgin Plan
• Construction: New construction (Elgin plan)
• Exterior features: Living area approximately 1,912

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan: Elgin (new construction plan)

Listing history 50 events

1. 2026-11-08
   days on market $360,990 Active 83 DOM
2. 2026-11-07
   days on market $360,990 Active 82 DOM
3. 2026-11-06
   days on market $360,990 Active 81 DOM
4. 2026-11-05
   days on market $360,990 Active 80 DOM
5. 2026-11-04
   days on market $360,990 Active 79 DOM
6. 2026-11-02
   days on market $360,990 Active 77 DOM
7. 2026-11-01
   days on market $360,990 Active 76 DOM
8. 2026-10-31
   days on market $360,990 Active 75 DOM
9. 2026-10-30
   days on market $360,990 Active 74 DOM
10. 2026-10-29
    days on market $360,990 Active 73 DOM
11. 2026-10-28
    days on market $360,990 Active 72 DOM
12. 2026-10-27
    days on market $360,990 Active 71 DOM
13. 2026-10-26
    days on market $360,990 Active 70 DOM
14. 2026-10-26
    days on market $360,990 Active 69 DOM
15. 2026-10-24
    days on market $360,990 Active 68 DOM
16. 2026-10-23
    days on market $360,990 Active 67 DOM
17. 2026-10-22
    days on market $360,990 Active 66 DOM
18. 2026-10-21
    days on market $360,990 Active 65 DOM
19. 2026-10-20
    days on market $360,990 Active 64 DOM
20. 2026-10-19
    days on market $360,990 Active 63 DOM
21. 2026-10-18
    days on market $360,990 Active 62 DOM
22. 2026-10-17
    days on market $360,990 Active 61 DOM
23. 2026-10-16
    days on market $360,990 Active 60 DOM
24. 2026-10-15
    days on market $360,990 Active 59 DOM
25. 2026-10-14
    days on market $360,990 Active 58 DOM
26. 2026-10-13
    days on market $360,990 Active 57 DOM
27. 2026-10-12
    days on market $360,990 Active 56 DOM
28. 2026-10-11
    days on market $360,990 Active 55 DOM
29. 2026-10-10
    days on market $360,990 Active 54 DOM
30. 2026-10-09
    days on market $360,990 Active 53 DOM
31. 2026-10-08
    days on market $360,990 Active 52 DOM
32. 2026-10-07
    days on market $360,990 Active 51 DOM
33. 2026-10-06
    days on market $360,990 Active 50 DOM
34. 2026-10-05
    days on market $360,990 Active 49 DOM
35. 2026-10-04
    days on market $360,990 Active 48 DOM
36. 2026-10-04
    days on market $360,990 Active 47 DOM
37. 2026-10-02
    days on market $360,990 Active 46 DOM
38. 2026-10-01
    days on market $360,990 Active 45 DOM
39. 2026-09-30
    days on market $360,990 Active 44 DOM
40. 2026-09-29
    days on market $360,990 Active 43 DOM
41. 2026-09-28
    days on market $360,990 Active 42 DOM
42. 2026-09-27
    days on market $360,990 Active 41 DOM
43. 2026-09-26
    days on market $360,990 Active 40 DOM
44. 2026-09-25
    days on market $360,990 Active 39 DOM
45. 2026-09-24
    days on market $360,990 Active 38 DOM
46. 2026-09-23
    days on market $360,990 Active 37 DOM
47. 2026-09-22
    days on market $360,990 Active 36 DOM
48. 2026-09-21
    days on market $360,990 Active 35 DOM
49. 2026-09-20
    days on market $360,990 Active 34 DOM
50. 2026-09-18
    days on market $360,990 Active 32 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 · 23 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: $28,006
• − Mortgage interest: −$23,449
• − Property taxes: −$6,279
• − Insurance: −$2,093
• − Repairs & maintenance: −$2,240
• − Management: −$2,240
• − Depreciation: −$12,178
• Taxable loss: −$20,474
• Est. tax savings @ 24.0%: +$4,914
• After-tax cash flow: $-7,677/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 · 1 photo

Good 80/100 Cosmetic rehab Est. rehab $9,560–$28,680 screening

The Elgin floor plan is in excellent condition with minimal maintenance required. It offers a good return on investment with updates that can significantly enhance its resale and rental value.

Value-add opportunities

• Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhances curb appeal and adds value ↑
• Both New flooring in high-traffic areas — Improves appearance and reduces maintenance ↑
• Resale New kitchen appliances — Modernizes the kitchen and appeals to potential buyers ↑
• Resale New bathroom fixtures — Modernizes the bathrooms and appeals to potential buyers ↑

ⓘ 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.

C Composite school gradezoned avg 62/100

Zoned Schools

Elementary Joe Hubenak El B- TX #455/4,322 Nat'l #8,048/41,679 Middle Briscoe J H B TX #166/1,662 Nat'l #1,836/14,009 High Foster H S B TX #141/1,632 Nat'l #2,354/17,239

Schools (NCES district)

• District: Lamar CISD
• NCES district ID: 4826580
• Math proficiency: 50% ▼ -12.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $75,213
• Composite: 46.43/100
• National rank: #2452
• State rank: #116 of 826 in TX

B Composite livability gradescore 70/100

Livability — Richmond

• Score: 70/100
• State rank: #363
• US rank: #7780

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Fort Bend County · 1,004,526 people
• City population: 158,237
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 69,918
• Household income: $141,869
• Rent vs Own: 14.4% rent · 85.6% own
• Severe rent burden: 4% of renters

---

Population outlook (Fort Bend County) Hauer SSP2

• Today (2025): 1,004,526 people
• By 2030: 1,153,104 · +14.8%
• By 2040: 1,453,718 · +44.7%
• By 2050: 1,753,781 · +74.6%
• By 2075: 2,455,772 · +144.5%
• By 2100: 2,930,528 · +191.7%

---

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 43% Hispanic / Latino 26% Two or more races 15% Black 14% Asian 12%
• Hispanic origin (detail): Mexican 18% Puerto Rican 1%
• Languages at home: 73% English-only · Spanish 14% Other Indo-European 3% Vietnamese 2%

---

Political lean MEDSL · Fort Bend

• 2024 margin: Toss-up / Even · D 49.5% · R 47.9% · Other 2.6%
• 2008→2024 swing: +4.0pp toward D · 2008: -2.4pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+10.6 2016: D+6.6 2012: R+6.8 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -79.18%
• Current HPI: 222.9525
• Rent YoY: ▼ -1.61%
• 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

Property features AI

Finance

• Financial info: List price $360,990

Exterior

• Parking: 2 garage spaces (2 parking spaces total)
• Home design: Single-family home (new construction)Entry labeled as Elgin Plan
• Construction: New construction (Elgin plan)
• Exterior features: Living area approximately 1,912

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 2 full bathrooms
• Interior features: Plan: Elgin (new construction plan)