The Waring III Plan · Willis, TX 77318

$264,990

5 bd · 2.5 ba · 2,738 sqft · SingleFamily · 20 Days on market

Good condition

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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 +5.7/30.0
• Condition / age +4.0/5.0
• Schools +3.2/10.0
• Livability +3.1/5.0
• Rent growth +2.0/5.0
• 1% rule +1.2/10.0
• DSCR +0.1/10.0
• Appreciation +0.0/10.0

Listing remarks

The Waring III plan is a two-story home featuring five bedrooms, two and a half bathrooms, a formal dining room, and a second-story loft that can be used as a large game/media room. A covered porch greets you as you enter the Waring III. The dining room can be optioned as a study, and the kitchen, breakfast, and family room lend themselves to a ton of natural light, creating a sizeable open-concept gathering area. The primary suite is on the first floor at the back of the home for maximum privacy and includes an en-suite bathroom and generous walk-in closet. The second story offers three bedrooms and a huge loft. Walk-in closets in almost every bedroom provide storage space, making this the

Key facts

• Covered porch
• Formal dining room
• Primary suite

Tags

• COVERED PORCH
• FORMAL DINING ROOM
• SECOND STORY LOFT
• OPEN-CONCEPT GATHERING AREA
• PRIMARY SUITE
• EN-SUITE BATHROOM

Property features AI

Finance

• Other: Address: 12595 Canyon Falls Blvd, Willis TX 77318; Status: Active
• Financial info: List price $264,990

Exterior

• Parking: 2 parking spaces
• Utilities: Natural gas; Central air conditioning
• Home design: New construction plan: The Waring III; Plan inventory type

Interior

• Bedrooms: 5 bedrooms
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Open living area (2,738 living area — informational)

🏗️ New construction. The $264,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $388,796.

What this means for you Summary

Snapshot

• This is a 5-bed/2.5-bath single-family listed at $265k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-796 ($-10k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (9.7% below list).
• Recommended offer: $239k (9.7% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 62/100 on livability (#933 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime C-, schools D+, employment D+.
• Willis ISD (rural): math 33% / reading 40% proficiency, ranked #458 of 826 in TX (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-2.1%/yr); 1189 active listings in the ZIP; solid renter incomes; 13,259 units permitted in Montgomery County in 2024 (1,402 in 5+ unit buildings).
• This rent runs 31% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k of value loss. Plan a longer hold.
• Montgomery County population projected at +65% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 20 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.

Recommended offer $239,323 (9.7% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 0.62% ✗
• Cap rate: 3.84%
• Cash-on-cash: -8.78%
• DSCR: 0.61
• GRM: 13.5

CMA / ARV

• ARV (on-the-fly): $388,796
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12575 Canyon Falls Blvd	0.02mi	4/3.0 (-1)	2,402 (-12%)	20mo	$310,000	$129	55
402 Northern Cardinal Ct	0.68mi	4/3.5 (-1)	2,818 (+3%)	2mo	$559,313	$198	52
240 Warbler Song Dr	0.70mi	4/3.5 (-1)	2,861 (+4%)	4mo	$424,990	$149	48
239 Warbler Song Dr	0.72mi	4/3.0 (-1)	2,497 (-9%)	0mo	$399,990	$160	44
140 Mockingbird Trails Dr	0.74mi	4/3.0 (-1)	2,513 (-8%)	0mo	$364,990	$145	44
224 Warbler Song Dr	0.68mi	4/3.5 (-1)	2,954 (+8%)	7mo	$389,990	$132	40
256 Warbler Song Dr	0.74mi	4/3.5 (-1)	2,881 (+5%)	12mo	$409,990	$142	37
136 Mockingbird Trails Dr	0.75mi	4/3.5 (-1)	3,100 (+13%)	1mo	$429,990	$139	34
240 River Grove St	0.74mi	5/3.0	2,358 (-14%)	15mo	$314,990	$134	28

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: -35.2%
• Equity multiple: -0.11×
• Total profit: $-120,691
• Equity at exit: $57,971

10-year hold

• IRR: -69.4%
• Equity multiple: -0.81×
• Total profit: $-197,353
• Equity at exit: $33,616

Cash invested: $108,863 (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 77318

• Home prices YoY: -32.7%
• Rents YoY: -2.1%
• Active inventory: 1189
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,393 medium
• Mortgage (P&I): −$2,039
• Tax est. 1.5%: −$486 /mo · $5,832/yr
• Insurance: −$162
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $-796

Break-even live

Break-even rent $3,401

Max offer price $273,581

Occupancy floor —

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: $97,199
• Closing costs: $11,664
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $264,990 Active 20 DOM
2. 2026-06-17
   days on market $264,990 Active 19 DOM
3. 2026-06-16
   days on market $264,990 Active 18 DOM
4. 2026-06-15
   days on market $264,990 Active 17 DOM
5. 2026-06-13
   days on market $264,990 Active 15 DOM
6. 2026-06-09
   days on market $264,990 Active 11 DOM
7. 2026-06-08
   days on market $264,990 Active 10 DOM
8. 2026-06-07
   days on market $264,990 Active 9 DOM
9. 2026-06-04
   days on market $264,990 Active 6 DOM
10. 2026-06-03
    days on market $264,990 Active 5 DOM
11. 2026-06-02
    days on market $264,990 Active 4 DOM
12. 2026-06-01
    days on market $264,990 Active 3 DOM
13. 2026-05-31
    days on market $264,990 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $28,719
• − Mortgage interest: −$21,779
• − Property taxes: −$5,832
• − Insurance: −$1,944
• − Repairs & maintenance: −$2,298
• − Management: −$2,298
• − Depreciation: −$11,310
• Taxable loss: −$16,741
• Est. tax savings @ 24.0%: +$4,018
• After-tax cash flow: $-5,537/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 · 12 photos

Good 80/100 None rehab

This two-story home is in excellent condition with modern finishes and a well-maintained exterior. It offers a good balance of updates and maintenance, making it a solid investment.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value
• Both Replace carpet in living room — Freshens up the space and improves rental appeal

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Replace carpet in living room — Freshens up the space and improves rental appeal ↑

ⓘ 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: Willis ISD
• NCES district ID: 4845900
• Math proficiency: 33% ▼ -15.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $57,828
• Composite: 32.32/100
• National rank: #5746
• State rank: #458 of 826 in TX

Livability — Willis

• Score: 62/100
• State rank: #933
• US rank: #16579

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Willis, TX
• County: Montgomery County · 663,713 people
• City population: 38,421
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 20,792
• Household income: $92,415
• Rent vs Own: 19.3% rent · 80.7% own
• Severe rent burden: 279.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 713,896 people
• By 2030: 805,263 · +12.8%
• By 2040: 992,708 · +39.1%
• By 2050: 1,179,590 · +65.2%
• By 2075: 1,628,084 · +128.1%
• By 2100: 1,937,880 · +171.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 17% Two or more races 14% Black 3%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Lithuanian 4% Slovak 2% Serbian 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 88% English-only · Spanish 10%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.3%
• 2008→2024 swing: +7.2pp toward D · 2008: -52.7pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+43.8 2016: R+51.4 2012: R+60.7 2008: R+52.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.58%
• Current HPI: 236.256
• Rent YoY: ▼ -2.09%
• 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