Invest new constructions in Katy, TX

[Hannah Guedea]

Hello, I'm an out-of-state investor and recently came across a new construction investment opportunity in Katy, tx. It's close to highway 99 and Clay rd intersection. The construction plan looks very attractive with a lake in the community and some water-facing properties. The properties are priced $300k-$400k for 3 beds/4beds, and HOA is around $120 per month. With the market rent, cash flow is not going to be great but I'm betting on the appreciation and rent increase in the future. I'm new to Katy and it seems the school around the new construction is not great although they are also in Katy ISD. I'd like to ask the opinion of folks who are familiar with this area or neighborhood, what would be the pros and cons for investing in new construction in this area? Would the school rating be an issue affecting the appreciation or renter's appeal to the properties in this community? Thank you!