31515 San Floro Dr

Huffman, TX 77336

$293,990F

5 bd · 3.0 ba · 2,943 sqft · Built 2026 · SingleFamily · Active · 141 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,468/mo
• Mortgage (P&I): −$1,796
• Tax + insurance: −$571
• HOA: −$192
• Vac / Maint / Mgmt: −$518
• Net cashflow: $-609/mo
• Annual: $-7,310/yr
• Cap rate: 4.16%
• Cash-on-cash: -7.62%
• DSCR: 0.66
• 1% rule: 0.72%
• Cash to close: $95,882

Investor read

• This is a 5-bed/3.0-bath single-family listed at $294k. Condition is rated good.
• At list price, monthly cash flow is $-609 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $254k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (16.1% below list).
• It's been on market 141 days — a 12% lower offer ($259k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $247k (16.1% below list) — sets the bar for 1% rule.
• 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.
• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Huffman ISD (rural): math 32% / reading 35% proficiency, ranked #500 of 826 in TX (top 60%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Falcon Ridge El (math 30% / reading 35%, grade F, #2,234 of 4,322 statewide, top 52%, 689 students, 49% FRL); Huffman Middle (math 36% / reading 32%, grade F, #892 of 1,662 statewide, top 55%, 907 students, 42% FRL); Hargrave H S (math 31% / reading 46%, grade F, #866 of 1,632 statewide, top 54%, 1,125 students, 36% FRL).
• Market conditions: 857 active listings in the ZIP; solid renter incomes; 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.
• 2 sale attempts; this cycle's ask has dropped $42k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Cap rate 4.2% vs local median 5.4% in Huffman — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.
• This rent runs 31% of the median local income ($96k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 141 days. Have you received any prior offers? Is the seller open to a 16% 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.