1202 Paradise Found Dr · Iowa Colony, TX 77583

$265,000

3 bd · 2.0 ba · 1,581 sqft · SingleFamily public records · 16 Days on market

Built 2021 Good condition 6,599 sqft lot Est $259k · at est. $79/mo HOA · 3% of rent

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Why this score? — see what drove the D 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 +11.6/30.0
• ARV discount +6.5/15.0
• 1% rule +5.1/10.0
• Condition / age +4.0/5.0
• Schools +3.9/10.0
• DSCR +3.4/10.0
• Livability +3.2/5.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Designed with entertaining in mind, the Maple by LGI Homes offers curb appeal and a spacious, open floor plan with plenty of room to gather family and friends, both indoors and outdoors. The private dining room is large enough for a table for six plus a buffet cabinet, and provides direct access into the chef-ready kitchen equipped with abundant cabinet storage, granite counters and a full suite of Whirlpool appliances. A long breakfast bar that easily accommodates four barstools overlooks the spacious family room. Owners will enjoy relaxing evenings in the private, fenced backyard on the extended covered back patio. Additional features include a programmable thermostat, double-pane Low-E vinyl windows, a finished garage and WiFi-enabled automatic garage door opener.

Key facts

• Fresh paint
• New lvp flooring
• 6,599 sq ft lot

Tags

• NEW LVP FLOORING
• FRESH PAINT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $265k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-83 ($-990/yr) — negative.
• To cash-flow at today's rent, offer at most $250k (5.5% below list).
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $250k (5.5% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 4.2% in Iowa Colony — 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 64/100 on livability (#757 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, cost of living A+; Watch: amenities F, commute F, health & safety F.
• Alvin ISD (suburban): math 39% / reading 48% proficiency, ranked #255 of 826 in TX (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Iowa Colony H S (792 students, 56% FRL).
• Market conditions: Rents flat; 1148 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 3,960 units permitted in Brazoria County in 2024 (593 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Brazoria County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $180k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 2.8% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $250,422 (5.5% 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. 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 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. 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: 1.01% ✓
• Cap rate: 5.92%
• Cash-on-cash: -1.33%
• DSCR: 0.94
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $259,284
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1202 Paradise Found Dr	0.00mi	3/2.0	1,581 (0%)	1mo	$265,000	$168	99
1306 Paradise Found Dr	0.09mi	3/2.0	1,393 (-12%)	2mo	$239,000	$172	74
1213 Red Hills Dr	0.53mi	4/2.0 (+1)	1,582 (+0%)	3mo	$299,900	$190	67
10410 Russell Pines Dr	0.54mi	3/2.0	1,631 (+3%)	4mo	$254,000	$156	66
9438 Sky Blue Dr	0.36mi	3/2.0	1,414 (-11%)	3mo	$229,000	$162	63
10510 Watershed Dr	0.67mi	3/2.0	1,641 (+4%)	1mo	$258,000	$157	62
1614 Diamond Mountain Dr	0.53mi	3/2.0	1,710 (+8%)	2mo	$265,000	$155	60
9438 Gold Mountain Dr	0.42mi	3/2.0	1,393 (-12%)	1mo	$229,000	$164	59
9415 Gold Mountain Dr	0.48mi	4/2.0 (+1)	1,661 (+5%)	6mo	$255,000	$154	59
1543 Loose Stone Dr	0.54mi	3/2.0	1,393 (-12%)	4mo	$210,000	$151	51
1802 Opal Peach Dr	0.64mi	3/2.0	1,393 (-12%)	2mo	$240,000	$172	48
1333 Red Hills Dr	0.49mi	3/3.0	1,790 (+13%)	4mo	$295,900	$165	47

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 · 0.44% rent growth · sell at horizon

5-year hold

• IRR: -21.9%
• Equity multiple: 0.26×
• Total profit: $-54,658
• Equity at exit: $39,512

10-year hold

• IRR: -25.6%
• Equity multiple: -0.07×
• Total profit: $-79,507
• Equity at exit: $22,912

Cash invested: $74,200 (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 77583

• Rents YoY: 0.4%
• Active inventory: 1148
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,678 high
• Mortgage (P&I): −$1,390
• Tax from tax record: −$619 /mo · $7,432/yr
• Insurance: −$110
• HOA: −$79
• Vacancy / Maint / Mgmt: −$562
• Net cashflow: $-83

Break-even live

Break-even rent $2,783

Max offer price $250,422

Occupancy floor 98%

Sensitivity live

Price	-10% $67	-5% $-8	+0% $-83	+5% $-158	+10% $-233
Rent	-10% $-294	-5% $-188	+0% $-83	+5% $23	+10% $129
Rate	-1.0pp $51	-0.5pp $-15	base $-83	+0.5pp $-151	+1.0pp $-221

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1123 Diamond Drape Dr Rosharon, TX	4.0	2.0	1844	$2,000	$1.08	14d	1	0.39mi
9423 Grand Spark Dr Rosharon, TX	3.0	3.0	1999	$2,600	$1.30	45d	1	0.49mi
10502 Moon Valley Ln Rosharon, TX	3.0	2.0	1615	$2,725	$1.69	0d	1	0.64mi
10507 Moon Valley Ln Rosharon, TX	3.0	2.0	1548	$2,650	$1.71	0d	1	0.65mi
10610 Cascade Creek Dr Rosharon, TX	3.0	2.0	1548	$2,700	$1.74	45d	1	0.67mi
10622 Cascade Creek Dr Rosharon, TX	4.0	2.0	1780	$2,775	$1.56	45d	1	0.69mi
10630 Cascade Creek Dr Rosharon, TX	3.0	2.5	1940	$2,875	$1.48	4d	1	0.72mi
10313 Malta Trace Dr Rosharon, TX	4.0	2.0	1802	$2,545	$1.41	45d	1	0.73mi
10538 Wildflower View Dr Rosharon, TX	3.0	2.0	1522	$2,775	$1.82	0d	1	0.73mi
10602 Wildflower View Dr Rosharon, TX	4.0	2.0	1596	$2,850	$1.79	22d	1	0.75mi
1234 Scarlet Creek Dr Rosharon, TX	3.0	2.0	1548	$2,650	$1.71	0d	1	0.78mi
1816 Corsica Creek Ln Rosharon, TX	3.0–4.0	2.0–2.5	1653	$2,306	$1.40	0d	20	0.83mi
10714 Cliffs View Dr Iowa Colony, TX	4.0	3.5	2070	$2,700	$1.30	45d	1	0.86mi
1403 Cascade Hills Dr Rosharon, TX	4.0	3.0	2067	$3,450	$1.67	9d	1	0.88mi
1014 Star Grass Ln Rosharon, TX	4.0	2.0	2067	$2,375	$1.15	45d	1	1.06mi
9518 Peridot Green Dr Rosharon, TX	4.0	2.0	1593	$1,886	$1.18	24d	1	1.11mi
10211 Alpine Lake Ln Rosharon, TX	3.0–4.0	2.0–2.5	1731	$2,469	$1.43	45d	7	1.11mi
10211 Alpine Lake Ln Rosharon, TX	3.0–4.0	2.0–2.5	1731	$2,700	$1.56	0d	6	1.11mi

HOA detail

• Monthly dues: $79 · $948/yr
• Likely covers: internetpool

Listing history 7 events

1. 2026-04-16
   status Pending
2. 2026-04-08
   status Pending
3. 2026-03-30
   listed $265,000 Active
4. 2026-02-25
   soldstatus $180,000
5. 2021-07-19
   soldstatus Sold 777-char remark

   Show marketing remark (777 chars)

   Designed with entertaining in mind, the Maple by LGI Homes offers curb appeal and a spacious, open floor plan with plenty of room to gather family and friends, both indoors and outdoors. The private dining room is large enough for a table for six plus a buffet cabinet, and provides direct access into the chef-ready kitchen equipped with abundant cabinet storage, granite counters and a full suite of Whirlpool appliances. A long breakfast bar that easily accommodates four barstools overlooks the spacious family room. Owners will enjoy relaxing evenings in the private, fenced backyard on the extended covered back patio. Additional features include a programmable thermostat, double-pane Low-E vinyl windows, a finished garage and WiFi-enabled automatic garage door opener.

6. 2021-04-23
   status Pending 777-char remark

   Show marketing remark (777 chars)

   Designed with entertaining in mind, the Maple by LGI Homes offers curb appeal and a spacious, open floor plan with plenty of room to gather family and friends, both indoors and outdoors. The private dining room is large enough for a table for six plus a buffet cabinet, and provides direct access into the chef-ready kitchen equipped with abundant cabinet storage, granite counters and a full suite of Whirlpool appliances. A long breakfast bar that easily accommodates four barstools overlooks the spacious family room. Owners will enjoy relaxing evenings in the private, fenced backyard on the extended covered back patio. Additional features include a programmable thermostat, double-pane Low-E vinyl windows, a finished garage and WiFi-enabled automatic garage door opener.

7. 2021-04-23
   listed $240,900 Active 777-char remark

   Show marketing remark (777 chars)

   Designed with entertaining in mind, the Maple by LGI Homes offers curb appeal and a spacious, open floor plan with plenty of room to gather family and friends, both indoors and outdoors. The private dining room is large enough for a table for six plus a buffet cabinet, and provides direct access into the chef-ready kitchen equipped with abundant cabinet storage, granite counters and a full suite of Whirlpool appliances. A long breakfast bar that easily accommodates four barstools overlooks the spacious family room. Owners will enjoy relaxing evenings in the private, fenced backyard on the extended covered back patio. Additional features include a programmable thermostat, double-pane Low-E vinyl windows, a finished garage and WiFi-enabled automatic garage door opener.

ⓘ 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: $7,432 · $619/mo
• Projected year-2 tax: $7,432 · $619/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 23 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: $32,140
• − Mortgage interest: −$14,844
• − Property taxes: −$7,432
• − Insurance: −$1,325
• − Repairs & maintenance: −$2,571
• − Management: −$2,571
• − HOA: −$948
• − Depreciation: −$7,709
• Taxable loss: −$5,260
• Est. tax savings @ 24.0%: +$1,262
• After-tax cash flow: $272/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 · 13 photos

Good 80/100 Cosmetic rehab

This home is in good condition with recent updates, making it a great candidate for a potential buyer or renter. The fresh paint and new flooring give it a modern feel, and the well-maintained exterior and landscaping add to its appeal.

Value-add opportunities

• Resale Painting the exterior brick — Enhances curb appeal and can add value to the home
• Both Landscaping improvements — Enhances curb appeal and can add value to the home

Renovation cost estimate screening

Value-add ROI direction

• Resale Painting the exterior brick — Enhances curb appeal and can add value to the home ↑
• Both Landscaping improvements — Enhances curb appeal and can add value to the home ↑

ⓘ 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: Alvin ISD
• NCES district ID: 4808090
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 48% ▬ 0.00%
• Median HH income: $66,740
• Composite: 38.96/100
• National rank: #4080
• State rank: #255 of 826 in TX

Livability — Iowa Colony

• Score: 64/100
• State rank: #757
• US rank: #13904

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Iowa Colony, TX
• County: Brazoria County · 374,982 people
• City population: 52,747
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 52,747
• Household income: $119,287
• Rent vs Own: 9.8% rent · 90.2% own
• Severe rent burden: 251.0

Population outlook (Brazoria County) Hauer SSP2

• Today (2025): 420,414 people
• By 2030: 457,585 · +8.8%
• By 2040: 532,232 · +26.6%
• By 2050: 605,399 · +44.0%
• By 2075: 779,358 · +85.4%
• By 2100: 883,759 · +110.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 38% Black 34% White 20% Two or more races 18% Asian 5%
• Hispanic origin (detail): Mexican 31% Puerto Rican 2%
• Common ancestry: Lithuanian 1% Slovak 1% Romanian 1%
• Foreign-born: 16% · Canada, Vietnam, China
• Languages at home: 64% English-only · Spanish 28% Other Asian/Pacific 2% Vietnamese 1%

Political lean MEDSL · Brazoria

• 2024 margin: R (+19.7) · D 39.5% · R 59.2% · Other 1.3%
• 2008→2024 swing: +9.9pp toward D · 2008: -29.6pp · 2024: -19.7pp
• All cycles: 2024: R+19.7 2020: R+18.2 2016: R+24.6 2012: R+34.2 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -120.19%
• Current HPI: 198.6559
• Rent YoY: ▲ 0.44%
• 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

+10.0% since first listed

7 events — show timeline

• 2026-04-16 Pending — HARMLS
• 2026-04-08 Pending — HARMLS
• 2026-03-30 Listed $265,000 HARMLS
• 2026-02-25 Sold (Public Records) $180,000 Public Records
• 2021-07-19 Sold (MLS) — HARMLS
• 2021-04-23 Pending — HARMLS
• 2021-04-23 Listed $240,900 HARMLS

Property tax history

+82.2%/yr

Latest (2025): $7,432 · -8.0% YoY. Source: county tax records.