215 Kateri Bnd · Crosby, TX 77532

$108,810

2 bd · 2.0 ba · 990 sqft · Manufactured · 161 Days on market

Built 2026 Good condition 5,500 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Condition / age +4.0/5.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * Tax Season Clearance Sale!!! The Bobby Jo combines comfort, functionality, and style in a well-designed 16' x 66' layout with over 990 sq. ft. Ideal for those seeking a cozy yet practical two-bedroom, two-bathroom home, it offers open living spaces and thoughtful details throughout. Highlights include a welcoming covered porch, a spacious living room, and a bright kitchen with ample cabinets, countertops, and a center island. The king-size primary bedroom features plenty of space for furniture, while the modern en-suite bathroom offers a walk-in shower and sleek finishes. A second bedroom with generous closet space and a well-appointed second bathroom. Other features include a convenient laundry area near the bedrooms, large windows for natural light, and an energy-efficient design that ensures comfort year-round.

Key facts

• Covered porch
• Bright kitchen
• Ample cabinets

Tags

• COVERED PORCH
• SPACIOUS LIVING ROOM
• BRIGHT KITCHEN
• AMPLE CABINETS
• CENTER ISLAND
• MODERN EN-SUITE BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $109k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $96k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 4.8% in Crosby — 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 59/100 on livability (#1,121 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A, housing A; Watch: schools D, amenities F, commute F.
• Crosby ISD (rural): math 39% / reading 40% proficiency, ranked #369 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+1.5%/yr); 1172 active listings in the ZIP; solid renter incomes; 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 $752 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 1.5% rent growth), your $30k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 161 days — a 12% lower offer ($96k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $95,752 (12.0% below list)

Questions for the listing agent

1. It's been on market 161 days. Have you received any prior offers? Is the seller open to a 12% 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 D-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. 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.
6. 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.
7. 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: 1.37% ✓
• Cap rate: 11.00%
• Cash-on-cash: 16.82%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.48% rent growth · sell at horizon

5-year hold

• IRR: 6.3%
• Equity multiple: 1.24×
• Total profit: $7,342
• Equity at exit: $16,224

10-year hold

• IRR: 14.3%
• Equity multiple: 2.07×
• Total profit: $32,560
• Equity at exit: $9,408

Cash invested: $30,467 (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 77532

• Home prices YoY: -28.6%
• Rents YoY: 1.5%
• Active inventory: 1172
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,492 medium
• Mortgage (P&I): −$571
• Tax est. 1.5%: −$136 /mo · $1,632/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $427

Break-even live

Break-even rent $952

Max offer price $108,810

Occupancy floor 66%

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: $27,202
• Closing costs: $3,264
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-18
   days on market $108,810 Active 161 DOM
2. 2026-06-17
   days on market $108,810 Active 160 DOM
3. 2026-06-16
   days on market $108,810 Active 159 DOM
4. 2026-06-15
   days on market $108,810 Active 158 DOM
5. 2026-06-13
   days on market $108,810 Active 156 DOM
6. 2026-06-09
   days on market $108,810 Active 152 DOM
7. 2026-06-08
   days on market $108,810 Active 151 DOM
8. 2026-06-07
   days on market $108,810 Active 150 DOM
9. 2026-06-04
   days on market $108,810 Active 147 DOM
10. 2026-06-02
    days on market $108,810 Active 145 DOM
11. 2026-06-01
    days on market $108,810 Active 144 DOM
12. 2026-05-31
    days on market $108,810 Active 143 DOM
13. 2026-01-08
    listed $108,810 Active 834-char remark

    Show marketing remark (834 chars)

    * * * Tax Season Clearance Sale!!! The Bobby Jo combines comfort, functionality, and style in a well-designed 16' x 66' layout with over 990 sq. ft. Ideal for those seeking a cozy yet practical two-bedroom, two-bathroom home, it offers open living spaces and thoughtful details throughout. Highlights include a welcoming covered porch, a spacious living room, and a bright kitchen with ample cabinets, countertops, and a center island. The king-size primary bedroom features plenty of space for furniture, while the modern en-suite bathroom offers a walk-in shower and sleek finishes. A second bedroom with generous closet space and a well-appointed second bathroom. Other features include a convenient laundry area near the bedrooms, large windows for natural light, and an energy-efficient design that ensures comfort year-round.

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 22 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: $17,909
• − Mortgage interest: −$6,095
• − Property taxes: −$1,632
• − Insurance: −$544
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$3,165
• Taxable income: $3,607
• Est. tax owed @ 24.0%: −$866
• After-tax cash flow: $4,259/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 manufactured home is in good condition with a good condition score of 80. It is move-in ready with minor cosmetic improvements needed to enhance its curb appeal and value.

Value-add opportunities

• Both Paint the exterior siding — Enhances curb appeal and can increase both resale and rental value.
• Both Clean the front porch and steps — Improves the home's appearance and can attract more potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean the front porch and steps — Improves the home's appearance and can attract more potential buyers or renters. ↑

ⓘ 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: Crosby ISD
• NCES district ID: 4815750
• Math proficiency: 39% ▼ -13.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $61,079
• Composite: 35.14/100
• National rank: #5012
• State rank: #369 of 826 in TX

Livability — Crosby

• Score: 59/100
• State rank: #1121
• US rank: #19783

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harris County · 4,702,590 people
• City population: 33,780
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 33,780
• Household income: $92,201
• Rent vs Own: 13.9% rent · 86.1% own
• Severe rent burden: 382.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 54% Hispanic / Latino 31% Two or more races 16% Black 9%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 4% Romanian 3% Italian 2%
• Foreign-born: 10% · Canada
• Languages at home: 78% English-only · Spanish 21%

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: ▼ -105.63%
• Current HPI: 264.0126
• Rent YoY: ▲ 1.48%
• 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

1 event — show timeline

• 2026-01-08 Listed $108,810 Zillow