24788 Marks Rd · Splendora, TX 77372

$159,900

3 bd · 1.0 ba · 1,190 sqft · SingleFamily public records · 87 Days on market

Built 1955 0.75 ac lot $134/sqft · 16% below area Est $191k · 16% under ↓ 18% since listing

---

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 +26.0/30.0
• ARV discount +14.9/15.0
• DSCR +8.7/10.0
• 1% rule +6.4/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +1.8/10.0

Listing remarks MLS

Fully renovated 3-bedroom home on a spacious 0.75 acre lot in Splendora offering plenty of outdoor space. Recent improvements include new HVAC system, new electrical panel, new wiring and dedicated plugs for the hot water heater, range, HVAC, and dryer, and new foundation leveling, providing peace of mind for major mechanical systems. Interior updates include new flooring, an updated kitchen, fresh interior and exterior paint, and modern fixtures throughout, creating a clean and move-in ready living space. The home features a bright living area and comfortable bedrooms with ample natural light. Exterior improvements include metal roof sealing and refreshed siding and trim. The deep 75 x 435 lot provides generous outdoor space with mature trees and room for additional outdoor uses such as outdoor activities, parking, gardening, or projects. Conveniently located with access to Highway 59 while still offering the space of country living. Lots next to it also available.

Key facts

• New wiring
• New flooring
• Updated kitchen

Tags

• NEW HVAC SYSTEM
• NEW ELECTRICAL PANEL
• NEW WIRING
• NEW FOUNDATION LEVELING
• UPDATED KITCHEN
• NEW FLOORING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $397 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% vs local median 5.2% in Splendora — 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 62/100 on livability (#911 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Splendora ISD (rural): math 25% / reading 31% proficiency, ranked #648 of 826 in TX (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Piney Woods El (math 23% / reading 28%, grade F, #2,982 of 4,322 statewide, top 70%, 534 students, 55% FRL); Splendora J H (math 28% / reading 42%, grade F, #842 of 1,662 statewide, top 51%, 774 students, 62% FRL); Splendora H S (math 18% / reading 38%, grade F, #1,170 of 1,632 statewide, top 72%, 1,344 students, 59% FRL) — zoned schools at 59% FRL track the district average.
• Market conditions: 546 active listings in the ZIP; solid renter incomes; 13,259 units permitted in Montgomery County in 2024 (1,402 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 87 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 87 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.14% ✓
• Cap rate: 9.28%
• Cash-on-cash: 10.65%
• DSCR: 1.47
• GRM: 7.3

CMA / ARV

• ARV (median comp): $191,441
• List price: $159,900
• Delta: -16.48%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -0.4%
• Equity multiple: 0.99×
• Total profit: $-607
• Equity at exit: $23,842

10-year hold

• IRR: 9.3%
• Equity multiple: 1.72×
• Total profit: $32,034
• Equity at exit: $13,825

Cash invested: $44,772 (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 77372

• Home prices YoY: -2.1%
• Active inventory: 546
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,830 medium
• Mortgage (P&I): −$839
• Tax from tax record: −$143 /mo · $1,718/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$384
• Net cashflow: $397

Break-even live

Break-even rent $1,327

Max offer price $159,900

Occupancy floor 73%

Sensitivity live

Price	-10% $488	-5% $443	+0% $397	+5% $352	+10% $307
Rent	-10% $253	-5% $325	+0% $397	+5% $470	+10% $542
Rate	-1.0pp $478	-0.5pp $438	base $397	+0.5pp $356	+1.0pp $314

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-08
   days on market $159,900 Pending 87 DOM
2. 2026-06-07
   days on market $159,900 Pending 86 DOM
3. 2026-06-04
   days on market $159,900 Pending 83 DOM
4. 2026-06-03
   days on market $159,900 Pending 82 DOM
5. 2026-06-02
   statusdays on market $159,900 Pending 81 DOM
6. 2026-06-01
   days on market $159,900 Active 80 DOM
7. 2026-05-31
   days on market $159,900 Active 79 DOM
8. 2026-04-13
   price $164,900 984-char remark

   Show marketing remark (984 chars)

   Fully renovated 3-bedroom home on a spacious 0.75 acre lot in Splendora offering plenty of outdoor space. Recent improvements include new HVAC system, new electrical panel, new wiring and dedicated plugs for the hot water heater, range, HVAC, and dryer, and new foundation leveling, providing peace of mind for major mechanical systems. Interior updates include new flooring, an updated kitchen, fresh interior and exterior paint, and modern fixtures throughout, creating a clean and move-in ready living space. The home features a bright living area and comfortable bedrooms with ample natural light. Exterior improvements include metal roof sealing and refreshed siding and trim. The deep 75 x 435 lot provides generous outdoor space with mature trees and room for additional outdoor uses such as outdoor activities, parking, gardening, or projects. Conveniently located with access to Highway 59 while still offering the space of country living. Lots next to it also available.

9. 2026-03-13
   listed $174,900 Active 984-char remark

   Show marketing remark (984 chars)

   Fully renovated 3-bedroom home on a spacious 0.75 acre lot in Splendora offering plenty of outdoor space. Recent improvements include new HVAC system, new electrical panel, new wiring and dedicated plugs for the hot water heater, range, HVAC, and dryer, and new foundation leveling, providing peace of mind for major mechanical systems. Interior updates include new flooring, an updated kitchen, fresh interior and exterior paint, and modern fixtures throughout, creating a clean and move-in ready living space. The home features a bright living area and comfortable bedrooms with ample natural light. Exterior improvements include metal roof sealing and refreshed siding and trim. The deep 75 x 435 lot provides generous outdoor space with mature trees and room for additional outdoor uses such as outdoor activities, parking, gardening, or projects. Conveniently located with access to Highway 59 while still offering the space of country living. Lots next to it also available.

10. 2025-12-01
    soldstatus
11. 2025-11-26
    soldstatus Closed 712-char remark

    Show marketing remark (712 chars)

    Great Opportunity Here! This location and area has seen tremendous growth with development and improvements happening all around. This unrestricted 3 acre property is available and ready for you to re-develop to your specific custom needs and wants. Not in a flood plain. Never flooded. Existing structures on property not in good condition. Property is OFFERED for sale at LAND VALUE only in an estate sale and will be sold to the best buyer's offer received by the administrator, as-is. Great access and improved property values experienced recently on this short street and expected to continue in the future with valuable homes and buildings in the neighborhood. Schedule your tour with your agent TODAY!

12. 2025-09-26
    status Pending 712-char remark

    Show marketing remark (712 chars)

    Great Opportunity Here! This location and area has seen tremendous growth with development and improvements happening all around. This unrestricted 3 acre property is available and ready for you to re-develop to your specific custom needs and wants. Not in a flood plain. Never flooded. Existing structures on property not in good condition. Property is OFFERED for sale at LAND VALUE only in an estate sale and will be sold to the best buyer's offer received by the administrator, as-is. Great access and improved property values experienced recently on this short street and expected to continue in the future with valuable homes and buildings in the neighborhood. Schedule your tour with your agent TODAY!

13. 2025-09-17
    price $189,000 712-char remark

    Show marketing remark (712 chars)

    Great Opportunity Here! This location and area has seen tremendous growth with development and improvements happening all around. This unrestricted 3 acre property is available and ready for you to re-develop to your specific custom needs and wants. Not in a flood plain. Never flooded. Existing structures on property not in good condition. Property is OFFERED for sale at LAND VALUE only in an estate sale and will be sold to the best buyer's offer received by the administrator, as-is. Great access and improved property values experienced recently on this short street and expected to continue in the future with valuable homes and buildings in the neighborhood. Schedule your tour with your agent TODAY!

14. 2025-08-22
    listed $200,000 Active 712-char remark

    Show marketing remark (712 chars)

    Great Opportunity Here! This location and area has seen tremendous growth with development and improvements happening all around. This unrestricted 3 acre property is available and ready for you to re-develop to your specific custom needs and wants. Not in a flood plain. Never flooded. Existing structures on property not in good condition. Property is OFFERED for sale at LAND VALUE only in an estate sale and will be sold to the best buyer's offer received by the administrator, as-is. Great access and improved property values experienced recently on this short street and expected to continue in the future with valuable homes and buildings in the neighborhood. Schedule your tour with your agent TODAY!

15. 1992-12-02
    soldstatus
16. 1987-12-01
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $1,718 · $143/mo
• Projected year-2 tax: $2,926 · $244/mo
• Expected delta: +$1,208/yr (+$101/mo · 70.3%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,961
• − Mortgage interest: −$8,957
• − Property taxes: −$1,718
• − Insurance: −$800
• − Repairs & maintenance: −$1,757
• − Management: −$1,757
• − Depreciation: −$4,652
• Taxable income: $2,321
• Est. tax owed @ 24.0%: −$557
• After-tax cash flow: $4,212/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.

Schools (NCES district)

• District: Splendora ISD
• NCES district ID: 4841070
• Math proficiency: 25% ▼ -8.00%
• Reading proficiency: 31% ▼ -1.00%
• Median HH income: $54,166
• Composite: 24.92/100
• National rank: #7572
• State rank: #648 of 826 in TX

Livability — Splendora

• Score: 62/100
• State rank: #911
• US rank: #16335

Category grades

Amenities F Commute F Cost of living A+ Crime C Employment C+ 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
• City population: 14,367
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 14,367
• Household income: $79,085
• Rent vs Own: 18.7% rent · 81.3% own
• Severe rent burden: 135.0

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: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 36% Two or more races 9% Native American 1%
• Hispanic origin (detail): Mexican 32%
• Common ancestry: Lithuanian 4% Italian 2% Slovak 1%
• Foreign-born: 9% · Canada
• Languages at home: 71% English-only · Spanish 28%

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: ▼ -6.47%
• Current HPI: 306.9962
• Rent YoY: —
• 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

-17.5% since first listed

9 events — show timeline

• 2026-04-13 Price Changed $164,900 HARMLS
• 2026-03-13 Listed $174,900 HARMLS
• 2025-12-01 Sold (Public Records) — Public Records
• 2025-11-26 Sold (MLS) — HARMLS
• 2025-09-26 Pending — HARMLS
• 2025-09-17 Price Changed $189,000 HARMLS
• 2025-08-22 Listed $200,000 HARMLS
• 1992-12-02 Sold (Public Records) — Public Records
• 1987-12-01 Sold (Public Records) — Public Records

Property tax history

+8.2%/yr

Latest (2025): $1,718 · +9.8% YoY. Source: county tax records.