26123 Sea Rosemary Ln · Houston, TX 77493

$276,990

3 bd · 2.0 ba · 1,724 sqft · SingleFamily · 1 Days on market

Built 2026 Excellent condition $183/mo HOA · 8% 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 +8.4/30.0
• ARV discount +7.5/15.0
• Schools +5.7/10.0
• Condition / age +5.0/5.0
• Livability +3.7/5.0
• 1% rule +3.4/10.0
• DSCR +2.3/10.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

New Construction Lennar Houston Home - The Rio Floor Plan - This new three-bedroom home offers convenient single-floor living. An open-concept floorplan combines the kitchen, living and dining areas with access to a covered patio for seamless entertaining and multitasking. Three bedrooms are tucked away to the side of the home for enhanced comfort and privacy, including the luxe owner’s suite with a spa-inspired bathroom and walk-in closet. The completion date, prices and features may vary and are subject to change. Please verify with Lennar directly. Photos are for illustrative purposes only.

Key facts

• New construction
• Walk-in closet
• Covered patio

Tags

• NEW CONSTRUCTION
• OPEN-CONCEPT FLOORPLAN
• COVERED PATIO
• LUXE OWNER’S SUITE
• SPA-INSPIRED BATHROOM
• WALK-IN CLOSET

Property features AI

Finance

• Financial info: Lease not considered
• HOA & community: KRJ Management HOA; Annual association fee of $2,200

Exterior

• Parking: Attached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Residential property; Under construction (new construction); Slab foundation
• Construction: Built in 2026; Brick construction; Composition roof
• Exterior features: Subdivision lot

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Gas oven; Gas range; Walk-in pantry; Breakfast bar
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric and gas); Central air conditioning (electric and gas)
• Interior features: Breakfast bar; Double vanity; Kitchen and family room combo; Kitchen and dining combo; Separate shower; Tub/shower; Walk-in pantry
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

🏗️ New construction. The $276,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $287,908.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $277k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-259 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $250k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (12.6% below list).
• Recommended offer: $242k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 5.2% vs local median 3.2% in Houston — 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 74/100 on livability (#184 in TX, #4,771 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: schools D, crime 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.
• Market conditions: Rents soft (-0.8%/yr); 2696 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 88% 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 $2k of loan paydown is wiped out by about $9k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $242,213 (12.6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 0.84% ✗
• Cap rate: 5.21%
• Cash-on-cash: -3.86%
• DSCR: 0.83
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $287,908
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
26110 Sea Rosemary Ln	0.03mi	3/2.0	1,572 (-9%)	1mo	$262,740	$167	83
6671 Iron Clover Dr	0.15mi	3/2.5	1,635 (-5%)	0mo	$265,000	$162	82
6666 Iron Clover Dr	0.15mi	4/2.0 (+1)	1,655 (-4%)	0mo	$283,590	$171	81
6647 Iron Clover Dr	0.10mi	3/2.0	1,572 (-9%)	1mo	$267,740	$170	79
6670 Iron Clover Dr	0.16mi	3/2.0	1,572 (-9%)	1mo	$264,990	$169	77
6806 Violet Clover Ave	0.32mi	3/2.0	1,629 (-6%)	1mo	$257,240	$158	75
6738 Violet Clover Ave	0.33mi	3/2.0	1,629 (-6%)	1mo	$272,890	$168	74
26906 Rosebay Woods Dr	0.50mi	4/2.0 (+1)	1,760 (+2%)	1mo	$262,990	$149	67
26707 Scarlet Willow Dr	0.61mi	4/2.0 (+1)	1,720 (-0%)	1mo	$322,990	$188	65
26811 Scarlet Willow Dr	0.74mi	4/2.0 (+1)	1,720 (-0%)	1mo	$270,590	$157	59
26910 Rosebay Woods Dr	0.50mi	3/2.0	1,522 (-12%)	1mo	$244,990	$161	56
26803 Scarlet Willow Dr	0.72mi	4/2.5 (+1)	1,968 (+14%)	0mo	$275,240	$140	36

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: -26.5%
• Equity multiple: 0.13×
• Total profit: $-70,110
• Equity at exit: $42,928

10-year hold

• IRR: -40.4%
• Equity multiple: -0.35×
• Total profit: $-109,134
• Equity at exit: $24,893

Cash invested: $80,614 (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 77493

• Rents YoY: -0.8%
• Active inventory: 2696
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,422 high
• Mortgage (P&I): −$1,510
• Tax est. 1.5%: −$360 /mo · $4,319/yr
• Insurance: −$120
• HOA: −$183
• Vacancy / Maint / Mgmt: −$509
• Net cashflow: $-259

Break-even live

Break-even rent $2,750

Max offer price $250,404

Occupancy floor —

Sensitivity live

Price	-10% $-60	-5% $-160	+0% $-259	+5% $-359	+10% $-458
Rent	-10% $-451	-5% $-355	+0% $-259	+5% $-164	+10% $-68
Rate	-1.0pp $-114	-0.5pp $-186	base $-259	+0.5pp $-334	+1.0pp $-410

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: $71,977
• Closing costs: $8,637
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6758 Sunset Velvet Dr Katy, TX	3.0	2.0	1580	$2,350	$1.49	44d	1	0.32mi
26642 Prairie Smoke Ln Katy, TX	3.0	2.0	1949	$2,300	$1.18	44d	1	0.65mi
26811 Prairie Smoke Ln Katy, TX	4.0	2.0	1656	$2,250	$1.36	44d	1	0.80mi
26802 Cenzontle Dr Katy, TX	3.0	2.0	1470	$1,850	$1.26	44d	1	1.08mi
7402 Clover Chase Dr Katy, TX	4.0	3.0	1840	$2,400	$1.30	44d	1	1.17mi
6303 Marigold Blaze Dr Katy, TX	3.0	2.0	1474	$2,250	$1.53	44d	1	1.27mi
27022 Euphonia Green Ln Katy, TX	3.0	2.0	1186	$1,939	$1.63	3d	1	1.36mi
27327 Blue Pool Dr Katy, TX	4.0	3.0	2100	$2,600	$1.24	44d	1	1.47mi

HOA detail

• Monthly dues: $183 · $2,196/yr

Listing history 2 events

1. 2026-06-18
   remarks 600-char remark
2. 2026-06-18
   listed $276,990 Active 1 DOM

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

Taxation est. · year 1

• Rental income: $29,066
• − Mortgage interest: −$16,127
• − Property taxes: −$4,319
• − Insurance: −$1,440
• − Repairs & maintenance: −$2,325
• − Management: −$2,325
• − HOA: −$2,196
• − Depreciation: −$8,376
• Taxable loss: −$8,042
• Est. tax savings @ 24.0%: +$1,930
• After-tax cash flow: $-1,180/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 · 6 photos

Excellent 100/100 None rehab

This new construction Lennar home is move-in ready with no visible signs of wear or damage. It offers a spacious and open floor plan with three bedrooms and two bathrooms, perfect for both resale and rental.

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

Livability — Houston

• Score: 74/100
• State rank: #184
• US rank: #4771

Category grades

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

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): 71,484
• Household income: $118,464
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 913.0

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: 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%

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

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

1 event — show timeline

• 2026-06-18 Listed $276,990 HARMLS