206 Kateri Bnd · Crosby, TX 77532

$127,773

3 bd · 2.0 ba · 1,460 sqft · Manufactured · 157 Days on market

Built 2026 Excellent condition 5,500 sqft lot $88/sqft · 7% below area Est $137k · 7% under ↓ 24% since listing

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Why this score? — see what drove the B 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 +30.0/30.0
• ARV discount +10.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Condition / age +5.0/5.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * Tax Season Clearance Sale!!! Discover elevated living in the Community 28 (28663A) by Palm Harbor-an impressive 1,460 sq. ft. , 3-bedroom, 2-bath manufactured home that blends style, space, and comfort. Designed with functionality and flow in mind, this open-concept layout makes everyday living feel effortless. Step onto the charming front porch, perfect for morning coffee or evening unwinding. Inside, the spacious living and dinning rooms welcome you with natural light and flows directly into the chef-inspired kitchen, where a large center island with bar seating becomes the heart of the home. The kitchen also features stainless steel appliances, a farmhouse-style sink, and abundant cabinet storage. The primary suite is a private retreat, offering a huge walk-in closet and ensuite bathroom with dual sinks, linen closet, and a separate water closet. Two generously sized guest bedrooms, with large closet space, and a second full bath are situated down the hallway from the kitchen and living room. Additional highlights include a dedicated utility/laundry room, energy-efficient construction, and modern finishes throughout. Built to high HUD standards, this home offers lasting quality and comfort at an affordable price. Whether you're downsizing, upgrading, or buying your first home, the Community 28 gives you the space to live, work, and relax-all under one roof.

Key facts

• Charming front porch
• Large center island
• Farmhouse-style sink

Tags

• OPEN-CONCEPT LAYOUT
• CHARMING FRONT PORCH
• CHEF-INSPIRED KITCHEN
• LARGE CENTER ISLAND
• STAINLESS STEEL APPLIANCES
• FARMHOUSE-STYLE SINK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $128k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $631 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Recommended offer: $112k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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: schools D, amenities F, commute 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.
• Market conditions: Rents rising (+1.5%/yr); 1188 active listings in the ZIP; 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 $884 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 1.5% rent growth), your $36k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($112k) 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 $112,440 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.50% ✓
• Cap rate: 12.22%
• Cash-on-cash: 21.16%
• DSCR: 1.94
• GRM: 5.6

CMA / ARV

• ARV (median comp): $136,956
• List price: $127,773
• Delta: -6.70%
• Verdict: FAIR
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.48% rent growth · sell at horizon

5-year hold

• IRR: 11.9%
• Equity multiple: 1.46×
• Total profit: $16,610
• Equity at exit: $19,051

10-year hold

• IRR: 19.6%
• Equity multiple: 2.53×
• Total profit: $54,821
• Equity at exit: $11,047

Cash invested: $35,776 (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: 1188
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,916 medium
• Mortgage (P&I): −$670
• Tax est. 1.5%: −$160 /mo · $1,917/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $631

Break-even live

Break-even rent $1,118

Max offer price $127,773

Occupancy floor 62%

Sensitivity live

Price	-10% $719	-5% $675	+0% $631	+5% $587	+10% $542
Rent	-10% $479	-5% $555	+0% $631	+5% $706	+10% $782
Rate	-1.0pp $695	-0.5pp $663	base $631	+0.5pp $598	+1.0pp $564

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: $31,943
• Closing costs: $3,833
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-21
   days on market $127,773 Active 157 DOM
2. 2026-06-18
   days on market $127,773 Active 154 DOM
3. 2026-06-17
   days on market $127,773 Active 153 DOM
4. 2026-06-16
   days on market $127,773 Active 152 DOM
5. 2026-06-15
   days on market $127,773 Active 151 DOM
6. 2026-06-13
   days on market $127,773 Active 149 DOM
7. 2026-06-09
   days on market $127,773 Active 145 DOM
8. 2026-06-08
   days on market $127,773 Active 144 DOM
9. 2026-06-07
   days on market $127,773 Active 143 DOM
10. 2026-06-04
    days on market $127,773 Active 140 DOM
11. 2026-06-02
    days on market $127,773 Active 138 DOM
12. 2026-06-01
    days on market $127,773 Active 137 DOM
13. 2026-05-31
    days on market $127,773 Active 136 DOM
14. 2026-01-28
    price $129,737 1391-char remark

    Show marketing remark (1391 chars)

    * * * Tax Season Clearance Sale!!! Discover elevated living in the Community 28 (28663A) by Palm Harbor-an impressive 1,460 sq. ft. , 3-bedroom, 2-bath manufactured home that blends style, space, and comfort. Designed with functionality and flow in mind, this open-concept layout makes everyday living feel effortless. Step onto the charming front porch, perfect for morning coffee or evening unwinding. Inside, the spacious living and dinning rooms welcome you with natural light and flows directly into the chef-inspired kitchen, where a large center island with bar seating becomes the heart of the home. The kitchen also features stainless steel appliances, a farmhouse-style sink, and abundant cabinet storage. The primary suite is a private retreat, offering a huge walk-in closet and ensuite bathroom with dual sinks, linen closet, and a separate water closet. Two generously sized guest bedrooms, with large closet space, and a second full bath are situated down the hallway from the kitchen and living room. Additional highlights include a dedicated utility/laundry room, energy-efficient construction, and modern finishes throughout. Built to high HUD standards, this home offers lasting quality and comfort at an affordable price. Whether you're downsizing, upgrading, or buying your first home, the Community 28 gives you the space to live, work, and relax-all under one roof.

15. 2026-01-15
    listed $169,999 Active 1391-char remark

    Show marketing remark (1391 chars)

    * * * Tax Season Clearance Sale!!! Discover elevated living in the Community 28 (28663A) by Palm Harbor-an impressive 1,460 sq. ft. , 3-bedroom, 2-bath manufactured home that blends style, space, and comfort. Designed with functionality and flow in mind, this open-concept layout makes everyday living feel effortless. Step onto the charming front porch, perfect for morning coffee or evening unwinding. Inside, the spacious living and dinning rooms welcome you with natural light and flows directly into the chef-inspired kitchen, where a large center island with bar seating becomes the heart of the home. The kitchen also features stainless steel appliances, a farmhouse-style sink, and abundant cabinet storage. The primary suite is a private retreat, offering a huge walk-in closet and ensuite bathroom with dual sinks, linen closet, and a separate water closet. Two generously sized guest bedrooms, with large closet space, and a second full bath are situated down the hallway from the kitchen and living room. Additional highlights include a dedicated utility/laundry room, energy-efficient construction, and modern finishes throughout. Built to high HUD standards, this home offers lasting quality and comfort at an affordable price. Whether you're downsizing, upgrading, or buying your first home, the Community 28 gives you the space to live, work, and relax-all under one roof.

ⓘ 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 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°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: $22,994
• − Mortgage interest: −$7,157
• − Property taxes: −$1,917
• − Insurance: −$639
• − Repairs & maintenance: −$1,840
• − Management: −$1,840
• − Depreciation: −$3,717
• Taxable income: $5,885
• Est. tax owed @ 24.0%: −$1,412
• After-tax cash flow: $6,157/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 · 6 photos

Excellent 100/100 None rehab

This move-in-ready manufactured home is in excellent condition with no visible repairs or maintenance needed. It offers a spacious and well-designed layout with a large center island kitchen and multiple windows for natural light. The exterior is well-maintained, and the home is located in a desirable community with a 25 mph speed limit. The property is ready for immediate occupancy and would be an excellent investment.

Value-add opportunities

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhances curb appeal and adds value.
• Both Add a small outdoor rug on the front porch — Enhances curb appeal and adds comfort for outdoor use.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and adds value. ↑
• Both Add a small outdoor rug on the front porch — Enhances curb appeal and adds comfort for outdoor use. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-23.7% since first listed

2 events — show timeline

• 2026-01-28 Price Changed $129,737 Zillow
• 2026-01-15 Listed $169,999 Zillow