2633 Steve St · Burleson, TX 76028

$539,990

4 bd · 3.0 ba · 2,670 sqft · SingleFamily · 55 Days on market

Built 2026 Excellent condition 7,187 sqft lot $202/sqft · 11% above area Est $488k · 11% over $42/mo HOA · 1% of rent ↓ 5% since listing

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Why this score? — see what drove the C- 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 +20.2/30.0
• DSCR +6.4/10.0
• 1% rule +5.5/10.0
• Condition / age +5.0/5.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Rent growth +2.9/5.0
• ARV discount +2.7/15.0
• Appreciation +0.0/10.0

Listing remarks

MLS# 21252289 - Built by J Houston Homes - Aug 2026 completion! ~ BRAND NEW JOHN HOUSTON HOME AT THE PARKS AT PANCHASARP FARMS IN BURLESON! This large 1 story home offers 4 bedrooms, 3 bathrooms, study, 2 car garage and large back covered patio. The gorgeous 12-foot ceilings, along with the floor-to-ceiling windows, make this home feel GRAND. The chef inspired kitchen features custom cabinets extended upto 10 ft, built-in appliances with 5 burner gas cooktop, pot and pan drawers, trash rollout, and a large island creating an inviting atmosphere for cooking and entertaining. The primary suite is a true retreat, featuring a deluxe free standing tub, dual vanity, and a spacious primary closet.

Key facts

• Dual vanity
• Large island
• 36 gas cooktop

Tags

• CHEF INSPIRED KITCHEN
• 36 GAS COOKTOP
• ALL WOOD CUSTOM CABINETS
• LARGE ISLAND
• DELUXE FREE STANDING TUB
• DUAL VANITY

Property features AI

Finance

• Other: Located in The Parks at Panchasarp Farms Phase 3 subdivision; Directions available: Turn off SW Wilshire Blvd onto Lakewood Dr., then onto Greenridge Dr, and follow onto Vanee St.
• Financial info: Treat as clear loan type; No second mortgage indicated
• HOA & community: Mandatory HOA; Annual association fee ($500) — includes full use of facilities; HOA managed by Legacy Southwest

Exterior

• Parking: 2 covered parking spaces; 2-car garage with automatic garage door; Garage dimensions approximately 20' x 19'
• Security: Security system; Smoke detectors
• Utilities: City water; City sewer; Electric service available
• Home design: Single family residence; One story; New construction (incomplete, 2026); Not attached to another property
• Construction: Brick construction; Composition roof; Slab foundation; Year built 2026
• Exterior features: Covered porch; Covered patio; Wood fencing; Curbs and sidewalks (community)

Interior

• Kitchen: Dishwasher; Electric oven; Microwave; Water filter; Pantry; Granite counters
• Bedrooms: 4 bedrooms (primary bedroom on main level)
• Flooring: Carpet; Luxury vinyl plank; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Decorative lighting; Double vanity; Granite counters; Open floorplan; Pantry; Vaulted ceilings; Wired for data; One living area; One dining area; Room count: 2
• Laundry & utility: Utility room with full-size washer/dryer area

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $540k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($6k rent vs $540k).
• Recommended offer: $524k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.8% vs local median 3.5% in Burleson — 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 79/100 on livability (#53 in TX, #2,133 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Joshua ISD (rural): math 52% / reading 50% proficiency, ranked #139 of 826 in TX (top 17%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Joshua El (math 66% / reading 69%, grade B+, #189 of 4,322 statewide, top 5%, 683 students, 28% FRL); R C Loflin Middle (math 41% / reading 45%, grade D-, #540 of 1,662 statewide, top 33%, 730 students, 55% FRL); Joshua H S (math 67% / reading 15%, grade F, #774 of 1,632 statewide, top 49%, 1,242 students, 44% FRL) — zoned schools at 42% FRL track the district average.
• Market conditions: Rents rising (+1.8%/yr); 684 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,152 units permitted in Johnson County in 2024 (76 in 5+ unit buildings).
• At $5,643/mo this rent would consume 67% of the median local household income ($101k/yr) (locally 1117% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Johnson County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($524k) is reasonable based on typical stale-listing flexibility.

Recommended offer $523,790 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.05% ✓
• Cap rate: 7.81%
• Cash-on-cash: 5.43%
• DSCR: 1.24
• GRM: 8.0

CMA / ARV

• ARV (median comp): $487,913
• List price: $539,990
• Delta: 10.67%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2613 Lee St	0.11mi	4/3.0	2,646 (-1%)	6mo	$499,900	$189	88
2605 Steve St	0.08mi	4/2.5	2,589 (-3%)	5mo	$474,900	$183	85
333 Tony St	0.06mi	4/3.0	2,791 (+4%)	6mo	$529,900	$190	84
2636 Lila St	0.03mi	3/3.0 (-1)	2,527 (-5%)	1mo	$499,900	$198	84
305 Aurora Hills Trl	0.16mi	4/3.0	2,527 (-5%)	4mo	$449,900	$178	80
328 Alina St	0.13mi	3/2.5 (-1)	2,589 (-3%)	3mo	$484,990	$187	80
2605 Lila St	0.11mi	5/4.0 (+1)	2,873 (+8%)	3mo	$524,900	$183	71
2608 Lila	0.09mi	4/3.0	2,275 (-15%)	5mo	$444,990	$196	67
217 Hawks Ridge Trl	0.34mi	4/2.0	2,453 (-8%)	0mo	$435,000	$177	67
320 Ben Thomas St	0.14mi	4/2.0	2,336 (-12%)	4mo	$415,000	$178	65
2739 Chimney Rock Rd	0.22mi	4/2.5	3,034 (+14%)	3mo	$523,500	$173	63
200 Hawks Ridge Trl	0.34mi	4/2.5	2,384 (-11%)	3mo	$398,000	$167	62

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 · 1.78% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.66×
• Total profit: $-50,661
• Equity at exit: $80,514

10-year hold

• IRR: -1.5%
• Equity multiple: 0.90×
• Total profit: $-14,958
• Equity at exit: $46,688

Cash invested: $151,197 (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 76028

• Home prices YoY: -33.4%
• Rents YoY: 1.8%
• Active inventory: 684
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $5,643 medium
• Mortgage (P&I): −$2,832
• Tax est. 1.5%: −$675 /mo · $8,100/yr
• Insurance: −$225
• HOA: −$42
• Vacancy / Maint / Mgmt: −$1,185
• Net cashflow: $684

Break-even live

Break-even rent $4,777

Max offer price $539,990

Occupancy floor 83%

Sensitivity live

Price	-10% $1,057	-5% $871	+0% $684	+5% $498	+10% $311
Rent	-10% $238	-5% $461	+0% $684	+5% $907	+10% $1,130
Rate	-1.0pp $956	-0.5pp $821	base $684	+0.5pp $544	+1.0pp $402

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: $134,998
• Closing costs: $16,200
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2516 Castle Pines Dr Unit 1287532P Burleson, TX	5.0	3.0	2507	$16,227	$6.47	24d	1	0.18mi
2516 Castle Pines Dr Burleson, TX	5.0	3.0	2518	$8,950	$3.55	26d	1	0.18mi
2435 Castle Pines Dr Burleson, TX	4.0	3.0	3064	$2,950	$0.96	0d	1	0.27mi
2752 Elmwood Dr Burleson, TX	4.0	2.0	2032	$2,800	$1.38	45d	1	0.32mi
1733 Trinity St Burleson, TX	4.0	2.0	2213	$4,900	$2.21	4d	1	1.28mi

HOA detail

• Monthly dues: $42 · $504/yr
• Likely covers: trashgas

Listing history 17 events

1. 2026-06-21
   days on market $539,990 Active 55 DOM
2. 2026-06-18
   days on market $539,990 Active 52 DOM
3. 2026-06-17
   days on market $539,990 Active 51 DOM
4. 2026-06-16
   days on market $539,990 Active 50 DOM
5. 2026-06-15
   days on market $539,990 Active 49 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   days on market $539,990 Active 47 DOM
8. 2026-06-09
   days on market $539,990 Active 43 DOM
9. 2026-06-08
   days on market $539,990 Active 42 DOM
10. 2026-06-07
    days on market $539,990 Active 41 DOM
11. 2026-06-04
    days on market $539,990 Active 38 DOM
12. 2026-06-03
    days on market $539,990 Active 37 DOM
13. 2026-06-02
    days on market $539,990 Active 36 DOM
14. 2026-06-01
    days on market $539,990 Active 35 DOM
15. 2026-05-31
    days on market $539,990 Active 34 DOM
16. 2026-05-01
    price $539,990 634-char remark
17. 2026-04-27
    listed $570,158 Active 634-char remark

ⓘ 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: $67,715
• − Mortgage interest: −$30,248
• − Property taxes: −$8,100
• − Insurance: −$2,700
• − Repairs & maintenance: −$5,417
• − Management: −$5,417
• − HOA: −$504
• − Depreciation: −$15,709
• Taxable loss: −$380
• Est. tax savings @ 24.0%: +$91
• After-tax cash flow: $8,301/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 · 2 photos

Excellent 100/100 None rehab

This home is a new construction with no visible repairs or maintenance needed. It offers a grand design with a chef-inspired kitchen and spacious primary suite. Upgrades to the kitchen, bathrooms, and landscaping would further enhance its value.

Value-add opportunities

• Resale Kitchen appliances — Upgrading the kitchen appliances can enhance the home's appeal and functionality.
• Resale Bathroom fixtures — Updating the bathroom fixtures can improve the home's aesthetic and functionality.
• Resale Flooring — Replacing outdated flooring can significantly improve the home's appearance and value.
• Resale Paint — Refreshing the paint can make the home more inviting and modern.
• Both Landscaping — Enhancing the landscaping can improve curb appeal and add value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Resale Kitchen appliances — Upgrading the kitchen appliances can enhance the home's appeal and functionality. ↑
• Resale Bathroom fixtures — Updating the bathroom fixtures can improve the home's aesthetic and functionality. ↑
• Resale Flooring — Replacing outdated flooring can significantly improve the home's appearance and value. ↑
• Resale Paint — Refreshing the paint can make the home more inviting and modern. ↑
• Both Landscaping — Enhancing the landscaping can improve curb appeal and add value to the property. ↑

ⓘ 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: Joshua ISD
• NCES district ID: 4824930
• Math proficiency: 52% ▼ -7.00%
• Reading proficiency: 50% ▼ -1.00%
• Median HH income: $60,696
• Composite: 44.65/100
• National rank: #2769
• State rank: #139 of 826 in TX

Livability — Burleson

• Score: 79/100
• State rank: #53
• US rank: #2133

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Burleson, TX
• County: Johnson County · 147,987 people
• City population: 81,549
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 81,549
• Household income: $101,138
• Rent vs Own: 22.7% rent · 77.3% own
• Severe rent burden: 1117.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 179,678 people
• By 2030: 189,208 · +5.3%
• By 2040: 207,261 · +15.4%
• By 2050: 223,064 · +24.1%
• By 2075: 259,979 · +44.7%
• By 2100: 275,395 · +53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 19% Two or more races 11% Black 6% Asian 1%
• Hispanic origin (detail): Mexican 17%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 88% English-only · Spanish 10% Other Indo-European 1%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+51.4) · D 23.9% · R 75.3%
• 2008→2024 swing: -3.9pp toward R · 2008: -47.5pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+53.0 2016: R+58.3 2012: R+55.6 2008: R+47.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -141.44%
• Current HPI: 282.466
• Rent YoY: ▲ 1.78%
• Metro: Dallas-Fort Worth-Arlington, 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

-5.3% since first listed

2 events — show timeline

• 2026-05-01 Price Changed $539,990 NTREIS
• 2026-04-27 Listed $570,158 NTREIS