Plan 1605 Plan · Roman Forest, TX 77357

$205,995

4 bd · 2.0 ba · 1,605 sqft · SingleFamily · 74 Days on market

Good condition ↓ 14% since listing

---

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).

• Cash flow +17.3/30.0
• ARV discount +7.5/15.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.3/5.0
• Schools +2.8/10.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* Granite kitchen countertops * Dedicated laundry room * Smart thermostat * Kitchen island * Stainless steel appliances * Walk-in kitchen pantry * Open floor plan * Extra storage space * 5-panel interior doors * WaterSense® labeled faucets * Low-E windows * ENERGY STAR® certified home * Commuter-friendly location * Near entertainment and leisure * Planned park * Planned splash pad * Close to popular restaurants * Close to family friendly parks

Key facts

• Kitchen island
• Smart thermostat
• 2 garage spots

Tags

• GRANITE KITCHEN COUNTERTOPS
• DEDICATED LAUNDRY ROOM
• SMART THERMOSTAT
• KITCHEN ISLAND
• STAINLESS STEEL APPLIANCES
• WALK-IN KITCHEN PANTRY

🏗️ New construction. The $205,995 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $221,221.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $206k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $160 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $206k).
• Recommended offer: $194k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 4.9% in Roman Forest — 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 66/100 on livability (#595 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living A; Watch: schools F, crime F, amenities F.
• New Caney ISD (suburban): math 31% / reading 32% proficiency, ranked #570 of 826 in TX (top 69%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 986 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 34% of the median local income ($76k/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 $2k of loan paydown is wiped out by about $7k 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 74 days — a 6% lower offer ($194k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,635 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% 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 F-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. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 7.16%
• Cash-on-cash: 3.10%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (median comp): $221,221
• List price: $205,995
• Delta: -6.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27665 Peach Creek Dr	0.53mi	4/2.0	1,456 (-9%)	8mo	$240,000	$165	53
27634 Peach Creek Dr	0.48mi	3/1.5 (-1)	1,513 (-6%)	13mo	$234,900	$155	50
27450 Royal Coach	0.31mi	4/2.0	1,822 (+14%)	24mo	$175,000	$96	43
27015 Coach Light Ln	0.60mi	3/2.0 (-1)	1,436 (-10%)	9mo	$219,900	$153	42

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 · 0.21% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.49×
• Total profit: $-31,450
• Equity at exit: $32,985

10-year hold

• IRR: -11.3%
• Equity multiple: 0.41×
• Total profit: $-36,775
• Equity at exit: $19,127

Cash invested: $61,942 (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 77357

• Home prices YoY: -24.7%
• Rents YoY: 0.2%
• Active inventory: 986
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,138 medium
• Mortgage (P&I): −$1,160
• Tax est. 1.5%: −$277 /mo · $3,318/yr
• Insurance: −$92
• HOA: −$0
• Vacancy / Maint / Mgmt: −$449
• Net cashflow: $160

Break-even live

Break-even rent $1,935

Max offer price $221,221

Occupancy floor 88%

Sensitivity live

Price	-10% $313	-5% $237	+0% $160	+5% $84	+10% $7
Rent	-10% $-9	-5% $76	+0% $160	+5% $245	+10% $329
Rate	-1.0pp $272	-0.5pp $216	base $160	+0.5pp $103	+1.0pp $45

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: $55,305
• Closing costs: $6,637
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $205,995 Active 74 DOM
2. 2026-06-18
   days on market $205,995 Active 71 DOM
3. 2026-06-17
   days on market $205,995 Active 70 DOM
4. 2026-06-16
   days on market $205,995 Active 69 DOM
5. 2026-06-15
   days on market $205,995 Active 68 DOM
6. 2026-06-13
   days on market $205,995 Active 66 DOM
7. 2026-06-10
   days on market $205,995 Active 62 DOM
8. 2026-06-08
   days on market $205,995 Active 61 DOM
9. 2026-06-07
   days on market $205,995 Active 60 DOM
10. 2026-06-04
    days on market $205,995 Active 57 DOM
11. 2026-06-03
    days on market $205,995 Active 56 DOM
12. 2026-06-02
    days on market $205,995 Active 55 DOM
13. 2026-06-01
    days on market $205,995 Active 54 DOM
14. 2026-05-31
    days on market $205,995 Active 53 DOM
15. 2026-05-16
    price $205,995 490-char remark

    Show marketing remark (490 chars)

    * Granite kitchen countertops * Dedicated laundry room * Smart thermostat * Kitchen island * Stainless steel appliances * Walk-in kitchen pantry * Open floor plan * Extra storage space * 5-panel interior doors * WaterSense® labeled faucets * Low-E windows * ENERGY STAR® certified home * Commuter-friendly location * Near entertainment and leisure * Planned park * Planned splash pad * Close to popular restaurants * Close to family friendly parks

16. 2026-05-12
    price $203,995 490-char remark

    Show marketing remark (490 chars)

    * Granite kitchen countertops * Dedicated laundry room * Smart thermostat * Kitchen island * Stainless steel appliances * Walk-in kitchen pantry * Open floor plan * Extra storage space * 5-panel interior doors * WaterSense® labeled faucets * Low-E windows * ENERGY STAR® certified home * Commuter-friendly location * Near entertainment and leisure * Planned park * Planned splash pad * Close to popular restaurants * Close to family friendly parks

17. 2026-04-28
    price $213,995 490-char remark

    Show marketing remark (490 chars)

    * Granite kitchen countertops * Dedicated laundry room * Smart thermostat * Kitchen island * Stainless steel appliances * Walk-in kitchen pantry * Open floor plan * Extra storage space * 5-panel interior doors * WaterSense® labeled faucets * Low-E windows * ENERGY STAR® certified home * Commuter-friendly location * Near entertainment and leisure * Planned park * Planned splash pad * Close to popular restaurants * Close to family friendly parks

18. 2026-04-16
    price $223,995 490-char remark

    Show marketing remark (490 chars)

    * Granite kitchen countertops * Dedicated laundry room * Smart thermostat * Kitchen island * Stainless steel appliances * Walk-in kitchen pantry * Open floor plan * Extra storage space * 5-panel interior doors * WaterSense® labeled faucets * Low-E windows * ENERGY STAR® certified home * Commuter-friendly location * Near entertainment and leisure * Planned park * Planned splash pad * Close to popular restaurants * Close to family friendly parks

19. 2026-04-08
    listed $238,995 Active 490-char remark

    Show marketing remark (490 chars)

    * Granite kitchen countertops * Dedicated laundry room * Smart thermostat * Kitchen island * Stainless steel appliances * Walk-in kitchen pantry * Open floor plan * Extra storage space * 5-panel interior doors * WaterSense® labeled faucets * Low-E windows * ENERGY STAR® certified home * Commuter-friendly location * Near entertainment and leisure * Planned park * Planned splash pad * Close to popular restaurants * Close to family friendly parks

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 23 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $25,656
• − Mortgage interest: −$12,392
• − Property taxes: −$3,318
• − Insurance: −$1,106
• − Repairs & maintenance: −$2,052
• − Management: −$2,052
• − Depreciation: −$6,436
• Taxable loss: −$1,701
• Est. tax savings @ 24.0%: +$408
• After-tax cash flow: $2,331/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

This single-family home in Roman Forest, TX, is in good condition with a good condition score of 80. It is move-in ready with a cosmetic rehab level, featuring granite countertops, stainless steel appliances, and low-E windows. The smart thermostat and open floor plan make it a smart and attractive option for both resale and rental.

Value-add opportunities

• Both Smart home security system — Enhances safety and appeal
• Both Smart home automation package — Enhances convenience and appeal
• Both Smart home lighting system — Enhances ambiance and energy efficiency

Renovation cost estimate screening

Value-add ROI direction

• Both Smart home security system — Enhances safety and appeal ↑
• Both Smart home automation package — Enhances convenience and appeal ↑
• Both Smart home lighting system — Enhances ambiance and energy efficiency ↑

ⓘ 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: New Caney ISD
• NCES district ID: 4832400
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 32% ▼ -6.00%
• Median HH income: $55,380
• Composite: 27.97/100
• National rank: #6857
• State rank: #570 of 826 in TX

Livability — Roman Forest

• Score: 66/100
• State rank: #595
• US rank: #11338

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montgomery County · 663,713 people
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 37,592
• Household income: $76,050
• Rent vs Own: 26.1% rent · 73.9% own
• Severe rent burden: 487.0

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: Diverse neighborhood (Simpson 0.56)
• Race & ethnicity: Hispanic / Latino 49% White 45% Two or more races 31% Black 3%
• Hispanic origin (detail): Mexican 40%
• Common ancestry: Lithuanian 2% Romanian 1% Iranian 1%
• Foreign-born: 23% · Canada, Jamaica
• Languages at home: 58% English-only · Spanish 40% Other Indo-European 1%

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: ▼ -87.71%
• Current HPI: 266.8315
• Rent YoY: ▲ 0.21%
• 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

-13.8% since first listed

5 events — show timeline

• 2026-05-16 Price Changed $205,995 Zillow
• 2026-05-12 Price Changed $203,995 Zillow
• 2026-04-28 Price Changed $213,995 Zillow
• 2026-04-16 Price Changed $223,995 Zillow
• 2026-04-08 Listed $238,995 Zillow