17415 Mallett St · Crosby, TX 77532

$199,900

3 bd · 2.0 ba · 2,055 sqft · SingleFamily public records · 55 Days on market

Built 1981 7,501 sqft lot $97/sqft · 17% below area Est $240k · 17% under $55/mo HOA · 3% of rent

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Why this score? — see what drove the C- 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).

• ARV discount +15.0/15.0
• Cash flow +14.6/30.0
• 1% rule +6.0/10.0
• DSCR +4.5/10.0
• Schools +3.5/10.0
• Livability +3.0/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Build Value and capture Home equity instantly with this below market opportunity in Newport. Large open living room for the family with wood burning Fireplace that opens to the Kitchen, Dining and Loft. Has a converted room that can be used as a 4th bedroom or office. There is tile thought the home. All siding has been replaced with Hardi Board. The windows have been replaced with double pane windows. Recently installed brand new 5 TON ac unit. American Home Shield Platinum Warranty included. Does need some work but nothing a handyman cant handle. Seller is willing to negotiate for concessions. Don't miss this opportunity to get your new home under market value. Schedule today and thanks fo

Key facts

• Hardi board siding
• Double pane windows
• 5 ton ac unit

Tags

• WOOD BURNING FIREPLACE
• HARDI BOARD SIDING
• DOUBLE PANE WINDOWS
• 5 TON AC UNIT

Property features AI

Finance

• Other: No additional financial details provided
• Financial info: Lease not considered
• HOA & community: Newport POA with an annual association fee of $660

Exterior

• Parking: Attached garage with 2 spaces
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Residential property; One-story entry (all main rooms listed on first floor)
• Construction: Cement siding; Built in 1981; Composition roof; Slab foundation
• Exterior features: Subdivision lot

Interior

• Kitchen: Dishwasher; Microwave
• Bedrooms: Primary bedroom on the first floor; Two additional bedrooms on the first floor
• Flooring: Tile
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: One fireplace; Tile flooring; Disposal
• Laundry & utility: No specific laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $48 ($582/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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: amenities F, commute F, employment 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.
• Zoned schools: Crosby Middle (math 36% / reading 37%, grade F, #786 of 1,662 statewide, top 48%, 1,549 students, 60% FRL); Highpoint School East (Crosby) (20 students, 80% FRL) — zoned schools average 70% FRL vs 50% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.5%/yr); 1172 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $6k 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 55 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 12 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $64k; list at $200k implies a 215% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 1.10% ✓
• Cap rate: 6.58%
• Cash-on-cash: 1.04%
• DSCR: 1.05
• GRM: 7.6

CMA / ARV

• ARV (median comp): $240,216
• List price: $199,900
• Delta: -16.78%
• 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
17122 Yeoman Way	0.33mi	3/2.5	2,016 (-2%)	0mo	$240,000	$119	79
17519 Jolly Boat Dr	0.14mi	3/2.0	1,766 (-14%)	1mo	$207,250	$117	69
1114 Vang Ct	0.22mi	4/2.0 (+1)	1,904 (-7%)	5mo	$259,500	$136	68
17458 Jolly Boat Dr	0.15mi	3/2.0	1,766 (-14%)	2mo	$245,000	$139	68
17102 Jetty Ct	0.59mi	4/2.0 (+1)	2,082 (+1%)	4mo	$268,000	$129	63
17503 Typhoon Way	0.44mi	3/2.0	1,835 (-11%)	2mo	$294,999	$161	60
17135 Yeoman Way	0.29mi	4/2.5 (+1)	1,834 (-11%)	4mo	$159,000	$87	58
810 Handspike Way	0.60mi	4/2.0 (+1)	2,265 (+10%)	1mo	$285,000	$126	49
426 N Compass Rose Cir	0.72mi	4/2.0 (+1)	1,872 (-9%)	2mo	$154,900	$83	45
16627 Oarlock Ct	0.72mi	4/2.0 (+1)	2,257 (+10%)	4mo	$285,000	$126	42
16727 Camber Ct	0.74mi	3/2.5	2,298 (+12%)	3mo	$398,000	$173	41
17518 Monsoon Ct	0.74mi	4/2.5 (+1)	2,346 (+14%)	2mo	$339,800	$145	33

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 · 1.48% rent growth · sell at horizon

5-year hold

• IRR: -16.6%
• Equity multiple: 0.42×
• Total profit: $-32,392
• Equity at exit: $29,806

10-year hold

• IRR: -11.9%
• Equity multiple: 0.35×
• Total profit: $-36,498
• Equity at exit: $17,284

Cash invested: $55,972 (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: 7.6×

Monthly cashflow live

• Estimated rent: $2,195 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$499 /mo · $5,986/yr
• Insurance: −$83
• HOA: −$55
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $48

Break-even live

Break-even rent $2,133

Max offer price $199,900

Occupancy floor 93%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16807 Lisbon Ln Crosby, TX	3.0	2.5	2196	$1,910	$0.87	44d	1	0.59mi
1310 Stem Way Dr Crosby, TX	4.0	2.0	2346	$2,700	$1.15	3d	1	0.89mi
16318 River Wood Ct Crosby, TX	3.0	2.5	1681	$1,946	$1.16	2d	1	1.11mi
711 Equinox St Crosby, TX	3.0	2.0	1802	$1,881	$1.04	44d	1	1.12mi
1519 Gardenia Grove Ln Crosby, TX	3.0	2.0	1461	$1,800	$1.23	24d	1	1.19mi

HOA detail

• Monthly dues: $55 · $660/yr

Listing history 47 events

1. 2026-06-18
   days on market $199,900 Active 55 DOM
2. 2026-06-17
   days on market $199,900 Active 54 DOM
3. 2026-06-16
   days on market $199,900 Active 53 DOM
4. 2026-06-15
   days on market $199,900 Active 52 DOM
5. 2026-06-13
   days on market $199,900 Active 50 DOM
6. 2026-06-09
   days on market $199,900 Active 46 DOM
7. 2026-06-08
   days on market $199,900 Active 45 DOM
8. 2026-06-07
   days on market $199,900 Active 44 DOM
9. 2026-06-04
   days on market $199,900 Active 41 DOM
10. 2026-06-03
    days on market $199,900 Active 40 DOM
11. 2026-06-02
    days on market $199,900 Active 39 DOM
12. 2026-06-01
    days on market $199,900 Active 38 DOM
13. 2026-05-31
    days on market $199,900 Active 37 DOM
14. 2026-04-24
    listed $199,900 Active 712-char remark
15. 2026-04-23
    historical
16. 2026-03-26
    listed $179,990 Active
17. 2026-03-16
    historical
18. 2026-02-20
    soldstatus
19. 2026-01-28
    listed $179,990 Active
20. 2026-01-27
    historical
21. 2025-11-18
    listed $179,990 Active
22. 2025-11-17
    historical
23. 2025-11-03
    listed $189,900 Active
24. 2025-10-31
    historical
25. 2025-06-14
    listed $199,900 Active
26. 2025-06-14
    historical
27. 2025-04-07
    price $199,990
28. 2025-03-10
    listed $219,900 Active
29. 2025-03-10
    historical
30. 2025-03-07
    status Active
31. 2025-03-03
    status Pending
32. 2025-02-16
    listed $219,900 Active
33. 2024-04-26
    historical $1,550
34. 2024-04-23
    listed $1,550
35. 2013-10-18
    soldstatus
36. 2013-09-30
    historical
37. 2013-09-30
    soldstatus Sold
38. 2013-09-20
    status Pending, Continue to Show
39. 2013-09-19
    status Option Pending
40. 2013-09-10
    status Active
41. 2013-09-09
    status Pending, Continue to Show
42. 2013-09-04
    status Option Pending
43. 2013-07-24
    price $99,900
44. 2013-07-10
    price $119,900
45. 2013-05-29
    listed $128,900 Active
46. 2004-06-03
    soldstatus
47. 1993-12-30
    soldstatus $63,500

ⓘ 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: $5,986 · $499/mo
• Projected year-2 tax: $5,986 · $499/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $26,337
• − Mortgage interest: −$11,198
• − Property taxes: −$5,986
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,107
• − Management: −$2,107
• − HOA: −$660
• − Depreciation: −$5,815
• Taxable loss: −$2,535
• Est. tax savings @ 24.0%: +$608
• After-tax cash flow: $1,190/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: 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: 3,226,434
• 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

+214.8% since first listed

34 events — show timeline

• 2026-04-24 Listed $199,900 HARMLS
• 2026-04-23 Listing Removed — HARMLS
• 2026-03-26 Listed $179,990 HARMLS
• 2026-03-16 Listing Removed — HARMLS
• 2026-02-20 Sold (Public Records) — Public Records
• 2026-01-28 Listed $179,990 HARMLS
• 2026-01-27 Listing Removed — HARMLS
• 2025-11-18 Listed $179,990 HARMLS
• 2025-11-17 Listing Removed — HARMLS
• 2025-11-03 Listed $189,900 HARMLS
• 2025-10-31 Listing Removed — HARMLS
• 2025-06-14 Listing Removed — HARMLS
• 2025-06-14 Listed $199,900 HARMLS
• 2025-04-07 Price Changed $199,990 HARMLS
• 2025-03-10 Listing Removed — HARMLS
• 2025-03-10 Listed $219,900 HARMLS
• 2025-03-07 Relisted — HARMLS
• 2025-03-03 Pending — HARMLS
• 2025-02-16 Listed $219,900 HARMLS
• 2024-04-26 Rental Removed $1,550 HARMLS
• 2024-04-23 Listed for Rent $1,550 HARMLS
• 2013-10-18 Sold (Public Records) — Public Records
• 2013-09-30 Listing Removed — HARMLS
• 2013-09-30 Sold (MLS) — HARMLS
• 2013-09-20 Pending — HARMLS
• 2013-09-19 Pending — HARMLS
• 2013-09-10 Relisted — HARMLS
• 2013-09-09 Pending — HARMLS
• 2013-09-04 Pending — HARMLS
• 2013-07-24 Price Changed $99,900 HARMLS
• 2013-07-10 Price Changed $119,900 HARMLS
• 2013-05-29 Listed $128,900 HARMLS
• 2004-06-03 Sold (Public Records) — Public Records
• 1993-12-30 Sold (Public Records) $63,500 Public Records

Property tax history

+3.5%/yr

Latest (2025): $5,986 · +3.2% YoY. Source: county tax records.