510 Tejas Village Pkwy

Beasley, TX 77417

$341,814D

4 bd · 3.0 ba · 2,125 sqft · Built 2026 · Land · Pending · 65 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,709/mo
• Mortgage (P&I): −$1,793
• Tax + insurance: −$570
• HOA: −$33
• Vac / Maint / Mgmt: −$569
• Net cashflow: $-255/mo
• Annual: $-3,060/yr
• Cap rate: 5.40%
• Cash-on-cash: -3.20%
• DSCR: 0.86
• 1% rule: 0.79%
• Cash to close: $95,708

Investor read

• This is a 4-bed/3.0-bath land listed at $342k.
• At list price, monthly cash flow is $-255 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $305k (10.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $271k (20.7% below list).
• It's been on market 65 days — a 6% lower offer ($321k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $271k (20.7% below list) — sets the bar for 1% rule.
• In year one you build about $17k of equity ($2k loan paydown + $14k appreciation (4.2% local appreciation)).
• Location reads 57/100 on livability (#1,273 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, crime A; Watch: employment C-, schools D-, amenities F.
• Lamar CISD (suburban): math 50% / reading 53% proficiency, ranked #116 of 826 in TX (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 232 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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.
• By year 3, paydown + projected appreciation supports a ~$41k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

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?
• It's been on market 65 days. Have you received any prior offers? Is the seller open to a 21% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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?
• 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.