Sunterra Olive 2192 Plan · Katy, TX 77493

$312,990

4 bd · 3.0 ba · 2,260 sqft · SingleFamily · 174 Days on market

Good condition 2-car garage

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Why this score? — see what drove the F 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 +7.5/30.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +2.3/5.0
• 1% rule +2.2/10.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Sunterra brings a kind of excitement you won't find anywhere else in Katy, offering a lifestyle that feels fresh, inspired, and truly one-of-a-kind. Resort-style amenities, stunning water attractions, and thoughtful gathering spaces create a community experience that stands apart, giving residents more ways to relax, play, and enjoy time together. Its convenient location keeps shopping, dining, and major thoroughfares close at hand. Sunterra is where fun, comfort, and something truly special come together.

Key facts

• 2 garage spots
• Listed 173 days

🏗️ New construction. The $312,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $408,945.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $313k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-507 ($-6k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $294k (6.2% below list).
• Recommended offer: $275k (12.0% below list) — sets the bar for market timing.
• Cap rate 4.8% vs local median 3.5% in Katy — 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 76/100 on livability (#111 in TX, #3,613 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: crime C-, amenities D, commute F.
• Katy ISD (suburban): math 61% / reading 63% proficiency, ranked #29 of 826 in TX (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Robert King El (math 41% / reading 44%, grade F, #1,313 of 4,322 statewide, top 31%, 981 students, 68% FRL); Katy J H (math 52% / reading 51%, grade C, #318 of 1,662 statewide, top 20%, 1,094 students, 53% FRL); Katy H S (math 62% / reading 74%, grade B, #150 of 1,632 statewide, top 10%, 3,330 students, 38% FRL) — zoned schools average 53% FRL vs 27% district-wide (25 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.8%/yr); 4013 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 49d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $12k 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.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($275k) 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 $275,431 (12.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.72% ✗
• Cap rate: 4.81%
• Cash-on-cash: -5.31%
• DSCR: 0.76
• GRM: 11.6

CMA / ARV

• ARV (median comp): $408,945
• List price: $312,990
• Delta: -23.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27034 Flower Isle Ln	0.17mi	4/3.0	2,262 (+0%)	4mo	$375,315	$166	89
4960 Pismo Ray Dr	0.19mi	4/2.5	2,412 (+7%)	3mo	$284,999	$118	76
4959 Shimmer Side Dr	0.09mi	4/2.5	1,948 (-14%)	2mo	$305,000	$157	69
5307 Mystic Sea Dr	0.31mi	4/3.0	2,545 (+13%)	0mo	$367,000	$144	64
5619 Teal Marlene Dr	0.63mi	4/3.0	2,140 (-5%)	2mo	$410,525	$192	60
4784 Luna Landing Dr	0.74mi	4/3.0	2,168 (-4%)	3mo	$335,990	$155	56
5065 Marcasca Dr	0.65mi	4/3.0	2,102 (-7%)	3mo	$331,990	$158	55
5053 Marcasca Dr	0.66mi	3/2.5 (-1)	2,164 (-4%)	1mo	$367,900	$170	55
2237 Sonder Shore Dr	0.45mi	4/3.0	2,554 (+13%)	4mo	$379,990	$149	54
4605 Green Arobol Ln	0.66mi	4/2.5	2,430 (+8%)	2mo	$339,990	$140	52
4680 Peony Green Dr	0.62mi	4/2.0	2,056 (-9%)	3mo	$343,990	$167	50
1028 Open Sky Dr	0.66mi	3/2.0 (-1)	2,448 (+8%)	2mo	$400,000	$163	45

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -28.7%
• Equity multiple: 0.06×
• Total profit: $-107,112
• Equity at exit: $60,975

10-year hold

• IRR: -46.0%
• Equity multiple: -0.47×
• Total profit: $-167,913
• Equity at exit: $35,358

Cash invested: $114,505 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 275 active · 105 under contract
• Months of supply: 14.3 mo (7%/mo absorbed)
• Median asking: $349,000 ($163/sqft)
• Median days on market: 94 d
• This list price: 19% of active listings are priced below it
• ARV vs active asking: +10.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77493

• Rents YoY: -0.8%
• Active inventory: 4013
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,936 high
• Mortgage (P&I): −$2,145
• Tax est. 1.5%: −$511 /mo · $6,134/yr
• Insurance: −$170
• HOA: −$0
• Vacancy / Maint / Mgmt: −$616
• Net cashflow: $-507

Break-even live

Break-even rent $3,577

Max offer price $335,593

Occupancy floor —

Sensitivity live

Price	-10% $-224	-5% $-366	+0% $-507	+5% $-648	+10% $-790
Rent	-10% $-739	-5% $-623	+0% $-507	+5% $-391	+10% $-275
Rate	-1.0pp $-301	-0.5pp $-403	base $-507	+0.5pp $-613	+1.0pp $-721

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: $102,236
• Closing costs: $12,268
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4946 Skybluff Dr Katy, TX	4.0	3.0	2410	$2,650	$1.10	74d	1	0.11mi
4806 Sand Clouds Dr Katy, TX	4.0	2.5	2752	$3,095	$1.12	48d	1	0.28mi
27064 Beach Ball Dr Katy, TX	3.0–4.0	2.5–3.5	1709	$2,927	$1.71	0d	23	0.38mi
4985 Blue Beetle Ridge Dr Katy, TX	5.0	3.0	2816	$3,150	$1.12	39d	1	0.39mi
4985 Blue Beetle Ridge Dr Katy, TX	5.0	3.0	2816	$3,150	$1.12	59d	1	0.39mi
1495 Twilight Green Dr Katy, TX	3.0	2.5	2000	$2,400	$1.20	139d	1	0.41mi
1496 Twilight Green Dr Katy, TX	4.0	2.5	2135	$2,500	$1.17	74d	1	0.42mi
27035 Beacon Glen Dr Katy, TX	2.0–4.0	2.0–3.5	1890	$2,800	$1.48	0d	29	0.45mi
27035 Beacon Glen Dr Katy, TX	2.0–4.0	2.0–3.0	1890	$3,949	$2.09	59d	24	0.45mi
27035 Beacon Glen Dr Katy, TX	3.0	2.0	1824	$2,500	$1.37	48d	1	0.45mi
4607 Dana Cove Dr Katy, TX	4.0	3.0	2152	$2,500	$1.16	6d	1	0.50mi
4633 Peony Green Dr Katy, TX	5.0	3.0	2680	$3,995	$1.49	120d	1	0.60mi
4696 Peony Green Dr Katy, TX	4.0	2.0	2156	$2,395	$1.11	20d	1	0.62mi
5631 Pearl Vista Dr Katy, TX	4.0	3.0	2039	$3,000	$1.47	85d	1	0.66mi
5631 Pearl Vista Dr Katy, TX	3.0	2.5	2116	$3,050	$1.44	51d	1	0.66mi
5631 Pearl Vista Dr Katy, TX	3.0	2.5	2116	$3,050	$1.44	39d	1	0.66mi
5631 Pearl Vista Dr Katy, TX	4.0	3.0	2039	$3,000	$1.47	38d	1	0.66mi
5631 Pearl Vista Dr Katy, TX	4.0	3.0	2039	$3,000	$1.47	116d	1	0.66mi
5631 Pearl Vista Dr Katy, TX	4.0	3.0	2039	$3,000	$1.47	69d	1	0.66mi
27327 Blue Pool Dr Unit 27327 Katy, TX	4.0	3.0	2100	$2,600	$1.24	47d	1	0.78mi
1024 Greenshank Dr Katy, TX	4.0	3.0	2390	$2,900	$1.21	8d	1	0.81mi
1008 Caramel Shores Dr Katy, TX	4.0	3.0	2492	$3,100	$1.24	39d	1	0.83mi
5819 Bright Keel Dr Katy, TX	4.0	3.0	2598	$2,400	$0.92	139d	1	0.84mi
5822 Majestic Sky Dr Katy, TX	3.0	2.5	1634	$2,249	$1.38	20d	1	0.85mi
550 Long Beach Bay Dr Katy, TX	5.0	3.5	2788	$3,200	$1.15	39d	1	0.90mi
550 Long Beach Bay Dr Katy, TX	5.0	3.5	2788	$3,200	$1.15	48d	1	0.90mi
409 Aurora Creek Ln Katy, TX	4.0	3.0	1964	$2,100	$1.07	68d	1	0.94mi
808 Marisol Bay Dr Katy, TX	4.0	3.0	2423	$2,695	$1.11	36d	1	1.02mi
26123 Venus Trap Trl Cypress, TX	4.0	2.5	1785	$2,200	$1.23	55d	1	1.02mi
6023 Ginevra Summers Dr Katy, TX	5.0	3.0	2733	$3,100	$1.13	11d	1	1.07mi
27507 Hudson Sands Ln Katy, TX	4.0	3.0	2294	$3,000	$1.31	1d	1	1.08mi
27507 Hudson Sands Ln Katy, TX	4.0	3.0	2294	$3,000	$1.31	112d	1	1.09mi
27507 Hudson Sands Ln Katy, TX	4.0	3.0	2294	$3,000	$1.31	41d	1	1.09mi
3004 Fall Gold Ln Katy, TX	5.0	3.0	2156	$2,499	$1.16	87d	1	1.14mi
3004 Fall Gold Ln Katy, TX	5.0	3.0	2156	$3,850	$1.79	139d	1	1.14mi
3136 Wild Dunes Dr Katy, TX	4.0	2.0	1776	$2,355	$1.33	108d	1	1.16mi
3041 Colusa Ridge Dr Katy, TX	4.0	2.5	2263	$2,500	$1.10	108d	1	1.17mi
3124 Wild Dunes Dr Katy, TX	4.0	2.0	1776	$2,005	$1.13	19d	1	1.18mi
3112 Wild Dunes Dr Katy, TX	4.0	2.0	1776	$2,005	$1.13	19d	1	1.20mi
3076 Dylan Skyland Dr Katy, TX	4.0	2.5	2240	$3,395	$1.52	93d	1	1.23mi

Property features AI

Finance

• Financial info: List price $352,990

Exterior

• Parking: 2-car garage (2 total parking spaces)
• Home design: Single-family plan (Sunterra Olive 2192)Located in Katy, TX

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 3 full bathrooms
• Interior features: New construction plan (Sunterra Olive 2192)Living area approximately 2,260

Listing history 50 events

1. 2026-09-24
   days on market $312,990 Active 174 DOM
2. 2026-09-23
   days on market $312,990 Active 173 DOM
3. 2026-09-22
   days on market $312,990 Active 172 DOM
4. 2026-09-21
   days on market $312,990 Active 171 DOM
5. 2026-09-20
   days on market $312,990 Active 170 DOM
6. 2026-09-19
   days on market $312,990 Active 169 DOM
7. 2026-09-18
   days on market $312,990 Active 168 DOM
8. 2026-09-17
   days on market $312,990 Active 167 DOM
9. 2026-09-16
   days on market $312,990 Active 166 DOM
10. 2026-09-15
    days on market $312,990 Active 165 DOM
11. 2026-09-14
    days on market $312,990 Active 164 DOM
12. 2026-09-13
    days on market $312,990 Active 163 DOM
13. 2026-09-12
    days on market $312,990 Active 162 DOM
14. 2026-09-11
    days on market $312,990 Active 161 DOM
15. 2026-09-05
    days on market $312,990 Active 155 DOM
16. 2026-09-04
    days on market $312,990 Active 154 DOM
17. 2026-09-02
    days on market $312,990 Active 152 DOM
18. 2026-08-31
    days on market $312,990 Active 150 DOM
19. 2026-08-29
    days on market $312,990 Active 148 DOM
20. 2026-08-28
    days on market $312,990 Active 147 DOM
21. 2026-08-27
    days on market $312,990 Active 146 DOM
22. 2026-08-25
    days on market $312,990 Active 144 DOM
23. 2026-08-24
    days on market $312,990 Active 143 DOM
24. 2026-08-23
    days on market $312,990 Active 142 DOM
25. 2026-08-22
    days on market $312,990 Active 141 DOM
26. 2026-08-21
    days on market $312,990 Active 140 DOM
27. 2026-08-20
    days on market $312,990 Active 139 DOM
28. 2026-08-19
    days on market $312,990 Active 138 DOM
29. 2026-08-18
    days on market $312,990 Active 137 DOM
30. 2026-08-17
    days on market $312,990 Active 136 DOM
31. 2026-08-16
    days on market $312,990 Active 135 DOM
32. 2026-08-15
    days on market $312,990 Active 134 DOM
33. 2026-08-14
    days on market $312,990 Active 133 DOM
34. 2026-08-13
    days on market $312,990 Active 132 DOM
35. 2026-08-12
    days on market $312,990 Active 131 DOM
36. 2026-08-11
    days on market $312,990 Active 130 DOM
37. 2026-08-10
    days on market $312,990 Active 129 DOM
38. 2026-08-09
    days on market $312,990 Active 128 DOM
39. 2026-08-08
    days on market $312,990 Active 127 DOM
40. 2026-08-06
    days on market $312,990 Active 125 DOM
41. 2026-08-05
    days on market $312,990 Active 124 DOM
42. 2026-08-04
    days on market $312,990 Active 123 DOM
43. 2026-08-03
    days on market $312,990 Active 122 DOM
44. 2026-07-31
    days on market $312,990 Active 119 DOM
45. 2026-07-30
    days on market $312,990 Active 118 DOM
46. 2026-07-30
    days on market $312,990 Active 117 DOM
47. 2026-07-28
    days on market $312,990 Active 116 DOM
48. 2026-07-26
    days on market $312,990 Active 114 DOM
49. 2026-07-24
    days on market $312,990 Active 112 DOM
50. 2026-07-23
    days on market $312,990 Active 111 DOM

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°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: $35,229
• − Mortgage interest: −$22,907
• − Property taxes: −$6,134
• − Insurance: −$2,045
• − Repairs & maintenance: −$2,818
• − Management: −$2,818
• − Depreciation: −$11,897
• Taxable loss: −$13,391
• Est. tax savings @ 24.0%: +$3,214
• After-tax cash flow: $-2,869/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 75/100 Cosmetic rehab Est. rehab $11,300–$33,900 screening

This home is in good condition with a good exterior and interior. It has potential for minor cosmetic improvements to enhance its curb appeal and value.

Value-add opportunities

• Resale Paint exterior shutters — Fresh paint enhances curb appeal and can increase the home's value. ↑
• Both Landscaping improvements — Enhanced landscaping can improve both curb appeal and the home's rental value. ↑
• Both Clean and organize interior — A clean and organized interior can attract more buyers and renters. ↑
• Resale Update kitchen appliances — Modern appliances can make the kitchen more appealing to potential buyers. ↑
• Both Install smart home features — Smart home features can increase both resale and rental value by making the home more convenient and attractive to potential buyers and renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 54/100

Zoned Schools

Elementary Robert King El F TX #1,313/4,322 Nat'l #17,692/41,679 Middle Katy J H C TX #318/1,662 Nat'l #3,192/14,009 High Katy H S B TX #150/1,632 Nat'l #2,439/17,239

Schools (NCES district)

• District: Katy ISD
• NCES district ID: 4825170
• Math proficiency: 61% ▼ -7.00%
• Reading proficiency: 63% ▼ -3.00%
• Median HH income: $90,312
• Composite: 56.59/100
• National rank: #1146
• State rank: #29 of 826 in TX

B Composite livability gradescore 76/100

Livability — Katy

• Score: 76/100
• State rank: #111
• US rank: #3613

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harris County · 5,571,493 people
• City population: 413,575
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 71,484
• Household income: $118,464
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 21% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.73)
• Race & ethnicity: White 36% Hispanic / Latino 33% Two or more races 16% Black 15% Asian 12%
• Hispanic origin (detail): Mexican 20%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 21% · Canada, Vietnam, Jamaica
• Languages at home: 64% English-only · Spanish 22% Vietnamese 5% French/Haitian/Cajun 4%

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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: ▼ -140.65%
• Current HPI: 233.1683
• Rent YoY: ▼ -0.80%
• Metro: Houston-The Woodlands-Sugar Land, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

Property features AI

Finance

• Financial info: List price $352,990

Exterior

• Parking: 2-car garage (2 total parking spaces)
• Home design: Single-family plan (Sunterra Olive 2192)Located in Katy, TX

Interior

• Bedrooms: 4 bedrooms
• Bathrooms: 3 full bathrooms
• Interior features: New construction plan (Sunterra Olive 2192)Living area approximately 2,260