640 Levine Ct · Conroe, TX 77316

$279,000

4 bd · 3.0 ba · 2,302 sqft · Land · 3 Days on market

Built 2025 4,939 sqft lot $121/sqft · at area comps Est $273k · at est. $54/mo HOA · 2% of rent ↓ 4% since listing

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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 +15.3/30.0
• ARV discount +6.4/15.0
• Schools +5.1/10.0
• DSCR +4.7/10.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Warning: this home may cause sudden furniture shopping, Pinterest boards, and the urge to host dinner. This beautifully designed 4-bedroom, 3-bath home offers 2,302 sq ft of comfortable living on a quiet cul-de-sac that actually feels peaceful! The bright open-concept layout is perfect for everyday life, entertaining, and keeping an eye on everyone without yelling across the house. Gorgeous light brown LVP flooring gives the main living areas a warm, modern feel. The kitchen is the star of the show with custom cabinetry, elegant quartz countertops, stainless steel appliances, and plenty of prep space. Upstairs, the spacious game room/flex space is ready for movie nights, a playroom, home of

Key facts

• 4,939 sq ft lot
• 2 garage spots
• Built 2025

Property features AI

Finance

• HOA & community: Sterling Association Services; Annual association fee of $650

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Slab foundation
• Construction: Brick construction; Composition roof; Built in 2025
• Exterior features: Fenced backyard; Private yard; Located on a cul-de-sac

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Microwave; Disposal; Oven
• Bedrooms: Primary bedroom on first level (13.2 x 12.2); Bedroom on first level (12 x 15); Bedroom on second level (12 x 12); Bedroom on second level (11.1 x 10.8)
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Pantry; Quartz counters
• Laundry & utility: Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $279k.

Deal economics

• At list price, monthly cash flow is $101 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $230k (17.6% below list).
• Recommended offer: $230k (17.6% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 3.1% in Conroe — 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 (#169 in TX, #4,447 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, amenities B; Watch: commute F, health & safety F.
• Conroe ISD (other): math 57% / reading 57% proficiency, ranked #69 of 826 in TX (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Gordon-Reed El (586 students, 47% FRL); Conroe H S (math 32% / reading 51%, grade F, #767 of 1,632 statewide, top 47%, 4,915 students, 61% FRL) — zoned schools average 54% FRL vs 34% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 42% at this address vs 57% district-wide (-16 pts) — the specific schools serving this property underperform the Conroe ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 2300 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 13,259 units permitted in Montgomery County in 2024 (1,402 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.
• Montgomery County population projected at +65% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 2y 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.

Recommended offer $229,963 (17.6% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 0.82% ✗
• Cap rate: 6.73%
• Cash-on-cash: 1.56%
• DSCR: 1.07
• GRM: 10.1

CMA / ARV

• ARV (median comp): $272,615
• List price: $279,000
• Delta: 6.01%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.4% rent growth · sell at horizon

5-year hold

• IRR: -16.5%
• Equity multiple: 0.43×
• Total profit: $-44,707
• Equity at exit: $41,600

10-year hold

• IRR: -13.2%
• Equity multiple: 0.31×
• Total profit: $-53,839
• Equity at exit: $24,123

Cash invested: $78,120 (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 77316

• Home prices YoY: -10.7%
• Rents YoY: 0.4%
• Active inventory: 2300
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $2,300 medium
• Mortgage (P&I): −$1,463
• Tax from tax record: −$82 /mo · $982/yr
• Insurance: −$116
• HOA: −$54
• Vacancy / Maint / Mgmt: −$483
• Net cashflow: $101

Break-even live

Break-even rent $2,171

Max offer price $279,000

Occupancy floor 91%

Sensitivity live

Price	-10% $259	-5% $180	+0% $101	+5% $23	+10% $-56
Rent	-10% $-80	-5% $11	+0% $101	+5% $192	+10% $283
Rate	-1.0pp $242	-0.5pp $172	base $101	+0.5pp $29	+1.0pp $-44

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: $69,750
• Closing costs: $8,370
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
632 Levine Ct Montgomery, TX	4.0	2.5	2239	$2,275	$1.02	8d	1	0.02mi
613 Craven St Montgomery, TX	3.0	2.0	1716	$1,610	$0.94	44d	1	0.51mi
15231 Abella Dr Montgomery, TX	3.0	2.0	1922	$1,760	$0.92	21d	1	0.54mi
15242 Abella Dr Montgomery, TX	4.0	2.5	1881	$1,780	$0.95	5d	1	0.55mi
702 Crystal River Rd Montgomery, TX	4.0	2.5	1820	$4,000	$2.20	44d	1	0.93mi

HOA detail

• Monthly dues: $54 · $648/yr

Listing history 20 events

1. 2026-06-21
   days on market $279,000 Active 3 DOM
2. 2026-06-18
   remarks 699-char remark
3. 2026-06-18
   pricedays on marketlisting id $279,000 Active 1 DOM
4. 2026-06-18
   days on market $284,900 Active 19 DOM
5. 2026-06-17
   days on market $284,900 Active 18 DOM
6. 2026-06-16
   days on market $284,900 Active 17 DOM
7. 2026-06-15
   days on market $284,900 Active 16 DOM
8. 2026-06-13
   days on market $284,900 Active 14 DOM
9. 2026-06-09
   days on market $284,900 Active 10 DOM
10. 2026-06-08
    days on market $284,900 Active 9 DOM
11. 2026-06-07
    days on market $284,900 Active 8 DOM
12. 2026-06-04
    days on market $284,900 Active 5 DOM
13. 2026-06-03
    days on market $284,900 Active 4 DOM
14. 2026-06-02
    days on market $284,900 Active 3 DOM
15. 2026-06-01
    days on market $284,900 Active 2 DOM
16. 2026-03-09
    listed $289,000 Active 1010-char remark
17. 2025-11-05
    soldstatus
18. 2025-04-01
    soldstatus Sold 474-char remark
19. 2025-01-27
    status Pending 474-char remark
20. 2024-11-18
    listed $289,460 Active 474-char remark

ⓘ 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: $982 · $82/mo
• Projected year-2 tax: $5,106 · $425/mo
• Expected delta: +$4,123/yr (+$344/mo · 419.7%)

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

Taxation est. · year 1

• Rental income: $27,596
• − Mortgage interest: −$15,628
• − Property taxes: −$982
• − Insurance: −$1,395
• − Repairs & maintenance: −$2,208
• − Management: −$2,208
• − HOA: −$648
• − Depreciation: −$8,116
• Taxable loss: −$3,590
• Est. tax savings @ 24.0%: +$862
• After-tax cash flow: $2,079/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: Conroe ISD
• NCES district ID: 4815000
• Math proficiency: 57% ▼ -6.00%
• Reading proficiency: 57% ▼ -1.00%
• Median HH income: $71,541
• Composite: 50.65/100
• National rank: #1833
• State rank: #69 of 826 in TX

Livability — Conroe

• Score: 74/100
• State rank: #169
• US rank: #4447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Conroe, TX
• County: Montgomery County · 663,713 people
• City population: 205,417
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 34,694
• Household income: $124,055
• Rent vs Own: 10.9% rent · 89.1% own
• Severe rent burden: 273.0

Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 713,896 people
• By 2030: 805,263 · +12.8%
• By 2040: 992,708 · +39.1%
• By 2050: 1,179,590 · +65.2%
• By 2075: 1,628,084 · +128.1%
• By 2100: 1,937,880 · +171.5%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 11% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 6% Slovak 3% Romanian 3%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 8%

Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.3%
• 2008→2024 swing: +7.2pp toward D · 2008: -52.7pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+43.8 2016: R+51.4 2012: R+60.7 2008: R+52.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -31.44%
• Current HPI: 262.6973
• Rent YoY: ▲ 0.40%
• 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

-3.6% since first listed

9 events — show timeline

• 2026-06-18 Listing Removed — HARMLS
• 2026-06-18 Listed $279,000 HARMLS
• 2026-05-30 Listing Removed — HARMLS
• 2026-05-30 Listed $284,900 HARMLS
• 2026-03-09 Listed $289,000 HARMLS
• 2025-11-05 Sold (Public Records) — Public Records
• 2025-04-01 Sold (MLS) — HARMLS
• 2025-01-27 Pending — HARMLS
• 2024-11-18 Listed $289,460 HARMLS

Property tax history

-0.2%/yr

Latest (2025): $982 · -0.2% YoY. Source: county tax records.