The Waiver Play
The $300K Five-Bed License Candidate
11763 Cliveden Dr, Houston · Harris County
What it costs
$299,900
Worth as a care home
$2.0 million
The verdict
Pencils
The full story
Five bedrooms and four full bathrooms in a single-story footprint is the ratio that matters, and at $123 per square foot it is priced like the ordinary house it looks like rather than the licensed asset it can become. One story removes the stair-egress problem, four full baths carry a real resident census without a plumbing addition, and the recently updated systems and high-efficiency HVAC lower the surprise budget on a 1982 build. This is the entry-price version of the assisted living play.
| Asking price | $299,9001 |
|---|---|
| Price per square foot | $1231 |
| Building size | 2,435 sqft1 |
| Lot size | 11,237 sqft1 |
| Bedrooms / baths | 5 bed · 4 full1 |
| Stories | 11 |
| Year built | 19821 |
| HOA fee | $265 / year1 |
| Property tax rate | 2.33471 |
| Status when retrieved | Active, 1 day on market1 |
The market
Harris County is the state's largest assisted living market on both counts that matter: licensed homes and licensed beds. Competition is real and priced in; the STAR+PLUS angle is census stability at a low building basis, not a rate premium.
- Licensed assisted living facilities, Harris County2802
- Licensed beds, Harris County11,5582
- Type A licenses in the county742
- Type B licenses in the county2062
Does this deal pencil?
VerdictPencilsThe honest version: Medicaid STAR+PLUS pays a state-set rate that is materially below private-pay averages, and we do not print a STAR+PLUS number here we have not verified against the current rate schedule. What makes this deal pencil is the fallback: even if Medicaid enrollment lags, the same building run private-pay at the statewide average implies a stabilized value several times the $299,900 basis. The Medicaid census is the mission; the private-pay math is the floor under the risk.
- Asking price$299,9001
- Implied value, private-pay fallback at stabilization$2.0 million4
- Fallback scenario: 6 residents at statewide average$378,000 / yr gross3
- STAR+PLUS reimbursement rateState-set; verify current scheduleUnverified
- Resident capacity assumed6 (shared rooms across 5 bedrooms)Unverified
The bear case
The strongest case against this deal is time-to-revenue. Between HHSC licensure, the two-inspection sequence, and credentialing with each STAR+PLUS health plan, a Medicaid-serving home can sit many months at full carrying cost with zero census. Harris County's 280 licensed competitors mean referral relationships, not the building, decide occupancy. And a 1982 build means roof, sewer, and electrical surprises belong in the budget even with recent updates.
The 20 percent smoke test. If the fallback private-pay rate runs 20 percent below the statewide average, implied stabilized value falls to roughly $1.6 million against a $299,900 basis, so the building survives a deep rate miss. The assumption that cannot miss is licensure itself: budget the carrying months, because the census math only starts when the license and credentialing finish.
- 1 HAR.com listing, MLS #76461807, retrieved July 5, 2026. Listing photos viewable at the source listing; not reproduced here pending photo-rights confirmation.
- 2 Texas HHSC Long-Term Care Provider directory, January 2026 export — the same dataset behind this site's facility directory.
- 3 Statewide Texas private-pay assisted living average of about $5,250 per resident per month — the underwriting baseline used across this site's deal calculator. Local achievable rates vary; verify with current comps for the 77066 area.
- 4 Implied-value method: projected gross income at the stated resident count and rate, 55 percent operating-expense ratio, 8.5 percent capitalization rate — the same deal-pencil check used on this site's Price My Property tool. An estimate, not an appraisal.
Estimates only, sourced as noted. Verify locally before any purchase or business decision. Not investment advice.
Issue
No. 1 · Texas · July 2026
Property
11763 Cliveden Dr, Houston
The Waiver Play · Folio
1
For this property
The AI Blueprint
A Medicaid-serving home lives or dies on paperwork velocity: the license, the managed-care credentialing, and the documentation that keeps a state-paid census compliant. That is exactly the work AI compresses. Stated honestly in three tiers for a Type B home at this address.
Tier 1AI does this alone, today
- Drafts the Texas HHSC Type B license application and the full Policies and Procedures manual, with the heavier evacuation and emergency sections a Type B home needs
- Drafts the admission agreement, the emergency and evacuation plan, the medication records system, and the overnight-staffing plan
- Drafts the STAR+PLUS managed-care credentialing paperwork for each health plan, ready for your review and signature
- Ranks caregiver applicants as resumes arrive, and drafts every family and case-manager follow-up
Tier 2AI runs this after one real hookup
- Posts to the home's Facebook and Google profiles on schedule, once the accounts are connected
- Collects resident liability and room-and-board payments automatically, once the home's bank or Stripe account is connected
- Sources caregiver candidates continuously, once a job-board account is connected
Tier 3Always you. No AI can do these.
- Get fingerprinted for the background check
- Personally complete the required manager training course
- Log into the state licensing portal yourself and submit
- Be there for the life-safety inspection
- If you file the paper application instead of the online portal, get its affidavit notarized
- Staff overnight coverage yourself before you can open
Get the full AI Blueprint Consult for this property
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Estimates only, sourced as noted. Verify locally before any purchase or business decision. Not investment advice.
Issue
No. 1 · Texas · July 2026
Consult
AI Blueprint · $450
Blueprint · Folio
2