2307 Clearbrook Dr

Missouri City, TX 77489

$247,990D+

3 bd · 2.0 ba · 1,474 sqft · Built 1974 · SingleFamily · Pending · 11 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,001/mo
• Mortgage (P&I): −$1,300
• Tax + insurance: −$494
• HOA: −$17
• Vac / Maint / Mgmt: −$420
• Net cashflow: $-231/mo
• Annual: $-2,766/yr
• Cap rate: 5.18%
• Cash-on-cash: -3.98%
• DSCR: 0.82
• 1% rule: 0.81%
• Cash to close: $69,437

Investor read

• This is a 3-bed/2.0-bath single-family listed at $248k.
• At list price, monthly cash flow is $-231 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $207k (16.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $200k (19.3% below list).
• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $200k (19.3% below list) — sets the bar for 1% rule.
• In year one you build about $347 of equity ($2k loan paydown + $-1k appreciation (-0.6% local appreciation)).
• Location reads 67/100 on livability (#526 in TX) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, employment A; Watch: amenities F, commute F, health & safety F.
• Fort Bend ISD (suburban): math 44% / reading 53% proficiency, ranked #140 of 826 in TX (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Lantern Lane El (math 17% / reading 37%, grade F, #2,791 of 4,322 statewide, top 68%, 472 students, 77% FRL); Quail Valley Middle (math 55% / reading 57%, grade B-, #234 of 1,662 statewide, top 14%, 1,043 students, 45% FRL) — zoned schools average 61% FRL vs 35% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents flat; 188 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 12,093 units permitted in Fort Bend County in 2024 (815 in 5+ unit buildings).
• Fort Bend County population projected at +75% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 4 sale attempts since 10y ago; this cycle's ask is 99% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Climate carrying-cost: major flood risk; 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.
• Cap rate 5.2% vs local median 3.6% in Missouri City — 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.
• This rent runs 32% of the median local income ($75k/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?
• Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
• What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?