19907 Emerald Bend Way

Atascocita, TX 77346

$264,140D

3 bd · 2.5 ba · 1,607 sqft · Built 2026 · SingleFamily · Active · 135 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,016/mo
• Mortgage (P&I): −$1,385
• Tax + insurance: −$440
• HOA: −$142
• Vac / Maint / Mgmt: −$423
• Net cashflow: $-375/mo
• Annual: $-4,497/yr
• Cap rate: 4.59%
• Cash-on-cash: -6.08%
• DSCR: 0.73
• 1% rule: 0.76%
• Cash to close: $73,959

Investor read

• This is a 3-bed/2.5-bath single-family listed at $264k. Condition is rated excellent.
• At list price, monthly cash flow is $-375 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $210k (20.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (23.7% below list).
• It's been on market 135 days — a 12% lower offer ($232k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $202k (23.7% below list) — sets the bar for 1% rule.
• Local home prices are declining (-0.9%/yr); year-one equity from $2k of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#346 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Humble ISD (urban): math 38% / reading 44% proficiency, ranked #262 of 826 in TX (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Pineforest El (math 32% / reading 41%, grade F, #1,883 of 4,322 statewide, top 44%, 609 students, 49% FRL); Creekwood Middle (math 49% / reading 50%, grade C, #356 of 1,662 statewide, top 23%, 1,149 students, 21% FRL); Humble H S (math 15% / reading 31%, grade F, #1,348 of 1,632 statewide, top 83%, 2,867 students, 77% FRL) — zoned schools average 49% FRL vs 32% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 897 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals lingering (median 43d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 63% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts; this cycle's ask has dropped $28k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Questions for listing agent

• 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?
• It's been on market 135 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.