5042 Morrison Blvd · Katy, TX 77493

$345,000

4 bd · 2.0 ba · 3,045 sqft · SingleFamily public records · 300 Days on market

Built 1999 8,219 sqft lot $113/sqft · 9% below area Est $378k · 9% under $29/mo HOA · 1% of rent

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Why this score? — see what drove the D- 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 +11.5/15.0
• Cash flow +8.0/30.0
• Schools +5.7/10.0
• Livability +3.8/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 5042 Morrison Blvd, nestled in the heart of Katy, TX! This spacious 3,045 sq ft home features 4 bedrooms, 2 full bathrooms, a dedicated home office, and an upstairs flex room—perfect for a game room, media space, or extra living area. Enjoy the open-concept kitchen and living room, ideal for everyday living and entertaining. Zoned to top-rated Katy ISD schools and just minutes from city parks, dining, shopping, and entertainment—this home offers comfort, convenience, and the vibrant lifestyle Katy is known for! The Seller is very motivated and will consider all offers

Key facts

• Upstairs flex room
• Open-concept kitchen
• Minutes from dining

Tags

• DEDICATED HOME OFFICE
• UPSTAIRS FLEX ROOM
• OPEN-CONCEPT KITCHEN
• TOP-RATED KATY ISD SCHOOLS
• MINUTES FROM CITY PARKS
• MINUTES FROM DINING

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $345k.

Deal economics

• At list price, monthly cash flow is $-349 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $283k (17.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $280k (18.8% below list).
• Recommended offer: $280k (18.8% below list) — sets the bar for 1% rule.
• Cap rate 5.1% vs local median 3.0% 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.
• Market conditions: Rents soft (-0.8%/yr); 2696 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $10k 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 300 days — a 12% lower offer ($304k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 25y ago; this cycle's ask has dropped $40k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; 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 $280,020 (18.8% 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 300 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.81% ✗
• Cap rate: 5.08%
• Cash-on-cash: -4.33%
• DSCR: 0.81
• GRM: 10.3

CMA / ARV

• ARV (median comp): $378,397
• List price: $345,000
• Delta: -8.83%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1247 S Maple Dr	0.35mi	4/3.5	2,932 (-4%)	1mo	$375,000	$128	71
25043 Lenora Dr	0.41mi	4/2.5	2,873 (-6%)	5mo	$334,990	$117	65
1610 Mason Knights Dr	0.51mi	5/3.5 (+1)	3,050 (+0%)	1mo	$345,000	$113	65
24735 Colonial Maple Dr	0.32mi	4/3.5	2,802 (-8%)	6mo	$333,000	$119	60
24514 Lake Path Cir	0.64mi	4/2.5	2,921 (-4%)	3mo	$364,900	$125	59
1306 S Maple Dr	0.35mi	4/3.5	2,834 (-7%)	8mo	$375,000	$132	59
24802 Colonial Maple Dr	0.32mi	4/2.5	2,637 (-13%)	3mo	$334,999	$127	58
24626 Blane Dr	0.54mi	5/4.0 (+1)	3,112 (+2%)	0mo	$368,000	$118	58
24610 Mason Knights Ct	0.47mi	4/3.5	2,772 (-9%)	7mo	$345,000	$124	52
1407 Bob White Ave	0.34mi	5/2.5 (+1)	2,666 (-12%)	8mo	$385,000	$144	50
24626 Sandal Springs Dr	0.54mi	5/2.5 (+1)	2,734 (-10%)	13mo	$377,900	$138	40
24423 Hampton Lakes Dr	0.71mi	4/2.5	2,710 (-11%)	11mo	$354,900	$131	37

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: -27.3%
• Equity multiple: 0.11×
• Total profit: $-86,184
• Equity at exit: $51,441

10-year hold

• IRR: -42.7%
• Equity multiple: -0.40×
• Total profit: $-134,766
• Equity at exit: $29,829

Cash invested: $96,600 (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 77493

• Rents YoY: -0.8%
• Active inventory: 2696
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,800 medium
• Mortgage (P&I): −$1,809
• Tax from tax record: −$579 /mo · $6,950/yr
• Insurance: −$144
• HOA: −$29
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $-349

Break-even live

Break-even rent $3,242

Max offer price $283,358

Occupancy floor —

Sensitivity live

Price	-10% $-154	-5% $-251	+0% $-349	+5% $-447	+10% $-544
Rent	-10% $-570	-5% $-460	+0% $-349	+5% $-238	+10% $-128
Rate	-1.0pp $-175	-0.5pp $-261	base $-349	+0.5pp $-438	+1.0pp $-529

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: $86,250
• Closing costs: $10,350
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1739 Palmetto Park Dr Katy, TX	4.0	3.5	2998	$3,100	$1.03	44d	1	0.58mi

HOA detail

• Monthly dues: $29 · $348/yr

Listing history 11 events

1. 2026-06-01
   days on market $345,000 Active 300 DOM
2. 2026-05-31
   days on market $345,000 Active 299 DOM
3. 2026-02-27
   price $345,000 597-char remark

   Show marketing remark (597 chars)

   Welcome to 5042 Morrison Blvd, nestled in the heart of Katy, TX! This spacious 3,045 sq ft home features 4 bedrooms, 2 full bathrooms, a dedicated home office, and an upstairs flex room—perfect for a game room, media space, or extra living area. Enjoy the open-concept kitchen and living room, ideal for everyday living and entertaining. Zoned to top-rated Katy ISD schools and just minutes from city parks, dining, shopping, and entertainment—this home offers comfort, convenience, and the vibrant lifestyle Katy is known for! The Seller is very motivated and will consider all offers

4. 2025-10-21
   price $349,900 597-char remark

   Show marketing remark (597 chars)

   Welcome to 5042 Morrison Blvd, nestled in the heart of Katy, TX! This spacious 3,045 sq ft home features 4 bedrooms, 2 full bathrooms, a dedicated home office, and an upstairs flex room—perfect for a game room, media space, or extra living area. Enjoy the open-concept kitchen and living room, ideal for everyday living and entertaining. Zoned to top-rated Katy ISD schools and just minutes from city parks, dining, shopping, and entertainment—this home offers comfort, convenience, and the vibrant lifestyle Katy is known for! The Seller is very motivated and will consider all offers

5. 2025-09-15
   price $379,900 597-char remark

   Show marketing remark (597 chars)

   Welcome to 5042 Morrison Blvd, nestled in the heart of Katy, TX! This spacious 3,045 sq ft home features 4 bedrooms, 2 full bathrooms, a dedicated home office, and an upstairs flex room—perfect for a game room, media space, or extra living area. Enjoy the open-concept kitchen and living room, ideal for everyday living and entertaining. Zoned to top-rated Katy ISD schools and just minutes from city parks, dining, shopping, and entertainment—this home offers comfort, convenience, and the vibrant lifestyle Katy is known for! The Seller is very motivated and will consider all offers

6. 2025-08-05
   listed $385,000 Active 597-char remark

   Show marketing remark (597 chars)

   Welcome to 5042 Morrison Blvd, nestled in the heart of Katy, TX! This spacious 3,045 sq ft home features 4 bedrooms, 2 full bathrooms, a dedicated home office, and an upstairs flex room—perfect for a game room, media space, or extra living area. Enjoy the open-concept kitchen and living room, ideal for everyday living and entertaining. Zoned to top-rated Katy ISD schools and just minutes from city parks, dining, shopping, and entertainment—this home offers comfort, convenience, and the vibrant lifestyle Katy is known for! The Seller is very motivated and will consider all offers

7. 2007-09-05
   soldstatus
8. 2006-04-11
   historical
9. 2006-02-22
   listed $179,500
10. 2001-07-05
    historical
11. 2001-01-05
    listed $175,000

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

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $6,950 · $579/mo
• Projected year-2 tax: $6,950 · $579/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 65% 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $33,602
• − Mortgage interest: −$19,325
• − Property taxes: −$6,950
• − Insurance: −$1,725
• − Repairs & maintenance: −$2,688
• − Management: −$2,688
• − HOA: −$348
• − Depreciation: −$10,036
• Taxable loss: −$10,158
• Est. tax savings @ 24.0%: +$2,438
• After-tax cash flow: $-1,749/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.

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

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

• Census place: Katy, TX
• County: Harris County · 4,702,590 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: 913.0

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: 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%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 21% · Canada, Vietnam, Jamaica
• Languages at home: 64% English-only · Spanish 22% Vietnamese 5% French/Haitian/Cajun 4%

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

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

+97.1% since first listed

9 events — show timeline

• 2026-02-27 Price Changed $345,000 HARMLS
• 2025-10-21 Price Changed $349,900 HARMLS
• 2025-09-15 Price Changed $379,900 HARMLS
• 2025-08-05 Listed $385,000 HARMLS
• 2007-09-05 Sold (Public Records) — Public Records
• 2006-04-11 Listing Removed — HARMLS
• 2006-02-22 Listed $179,500 HARMLS
• 2001-07-05 Listing Removed — HARMLS
• 2001-01-05 Listed $175,000 HARMLS

Property tax history

+7.9%/yr

Latest (2025): $6,950 · +4.8% YoY. Source: county tax records.