3500 Tangle Brush Dr #139 · The Woodlands, TX 77381

$136,000

2 bd · 2.0 ba · 953 sqft · Condo · 98 Days on market

Built 1982 Good condition $143/sqft · 12% below area Est $155k · 12% under $374/mo HOA · 24% of rent ↓ 15% 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).

• ARV discount +12.9/15.0
• Cash flow +9.5/30.0
• Schools +7.0/10.0
• 1% rule +6.3/10.0
• Livability +4.5/5.0
• Condition / age +3.8/5.0
• Rent growth +3.0/5.0
• DSCR +2.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Unlock the potential in this 2-bedroom, 2-bath condo ideally located in the heart of The Woodlands. Priced below market value, this is a rare opportunity for investors, DIY enthusiasts, or homebuyers looking to personalize their space. The unit features a spacious layout with abundant natural light and endless renovation possibilities. Best of all, it comes with a low monthly HOA, making it an even more attractive investment. Enjoy the benefits of a quiet, tree-lined community with access to top-rated schools, scenic parks, walking trails, and premier shopping and dining—all just minutes away.

Key facts

• Low monthly hoa
• Spacious layout
• Scenic parks

Tags

• SPACIOUS LAYOUT
• ABUNDANT NATURAL LIGHT
• LOW MONTHLY HOA
• QUIET TREE-LINED COMMUNITY
• ACCESS TO TOP-RATED SCHOOLS
• SCENIC PARKS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $136k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-94 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $122k (10.1% below list).
• Meets the 1% rule at list price ($2k rent vs $136k).
• Recommended offer: $122k (10.1% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 2.2% in The Woodlands — 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 91/100 on livability (#1 in TX, #47 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: cost of living D-.
• 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: Glen Loch El (math 52% / reading 47%, grade D, #865 of 4,322 statewide, top 21%, 535 students, 48% FRL); Mccullough J H (math 82% / reading 81%, grade A+, #9 of 1,662 statewide, top 1%, 2,178 students, 14% FRL); Conroe H S (math 32% / reading 51%, grade F, #767 of 1,632 statewide, top 47%, 4,915 students, 61% FRL).
• Market conditions: Rents rising (+2.1%/yr); 386 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 32d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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).
• This rent is only 13% of the median local income ($144k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $940 of loan paydown is wiped out by about $4k 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

• It's been on market 98 days — a 9% lower offer ($124k) is reasonable based on typical stale-listing flexibility.
• 5 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.

Risks & watch-outs

• Watch-outs: HOA is 24% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $122,328 (10.1% 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. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.13% ✓
• Cap rate: 5.46%
• Cash-on-cash: -2.98%
• DSCR: 0.87
• GRM: 7.3

CMA / ARV

• ARV (median comp): $154,705
• List price: $136,000
• Delta: -12.09%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3500 Tangle Brush Drive Dr #182	0.00mi	2/1.0	953 (0%)	2mo	$155,000	$163	94
3500 Tangle Brush Dr #193	0.05mi	2/1.0	953 (0%)	3mo	$127,000	$133	91
3500 Tangle Brush Dr #200	0.04mi	2/1.0	917 (-4%)	3mo	$159,000	$173	86
3500 Tangle Brush Dr #7	0.05mi	2/2.0	892 (-6%)	5mo	$135,000	$151	83
3500 Tangle Brush Dr #8	0.05mi	2/2.0	892 (-6%)	5mo	$139,000	$156	83
3500 Tangle Brush Dr Unit 170451	0.07mi	2/1.5	823 (-14%)	3mo	$170,000	$207	70
88 S Wavy Oak Cir	0.43mi	2/1.0	922 (-3%)	3mo	$225,000	$244	68
3500 Tangle Brush Dr #138	0.13mi	1/1.0 (-1)	725 (-24%)	4mo	$119,000	$164	57
18 N Wavy Oak Cir	0.44mi	3/1.0 (+1)	1,026 (+8%)	1mo	$199,000	$194	57
35 N Wavy Oak Cir	0.53mi	3/1.0 (+1)	1,122 (+18%)	4mo	$264,000	$235	38
25827 Glen Loch Dr	0.68mi	3/2.0 (+1)	1,120 (+18%)	2mo	$239,000	$213	37
35 E Bigelow Oak Court Ct	0.94mi	3/2.0 (+1)	1,148 (+20%)	5mo	$329,000	$287	30

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 · 2.09% rent growth · sell at horizon

5-year hold

• IRR: -22.5%
• Equity multiple: 0.23×
• Total profit: $-29,203
• Equity at exit: $20,278

10-year hold

• IRR: -19.6%
• Equity multiple: 0.01×
• Total profit: $-37,793
• Equity at exit: $11,759

Cash invested: $38,080 (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 →

Active competition Active MLS

• For sale now: 1 active · 1 under contract
• Median asking: $179,900 ($189/sqft)
• Median days on market: 135 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -14.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77381

• Home prices YoY: -31.0%
• Rents YoY: 2.1%
• Active inventory: 386
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,544 high
• Mortgage (P&I): −$713
• Tax est. 1.5%: −$170 /mo · $2,040/yr
• Insurance: −$57
• HOA: −$374
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $-94

Break-even live

Break-even rent $1,663

Max offer price $122,328

Occupancy floor —

Sensitivity live

Price	-10% $0	-5% $-47	+0% $-94	+5% $-141	+10% $-188
Rent	-10% $-216	-5% $-155	+0% $-94	+5% $-34	+10% $27
Rate	-1.0pp $-26	-0.5pp $-60	base $-94	+0.5pp $-130	+1.0pp $-166

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: $34,000
• Closing costs: $4,080
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3500 Tangle Brush Dr Spring, TX	1.0–2.0	1.0–2.0	904	$1,500	$1.66	30d	5	0.01mi
3500 Tangle Brush Dr Spring, TX	1.0–2.0	1.0–2.0	904	$1,500	$1.66	42d	5	0.01mi
3500 Tangle Brush Dr Spring, TX	1.0–2.0	1.0–2.0	915	$1,500	$1.64	7d	6	0.01mi
3500 Tangle Brush Dr Unit 1409 The Woodlands, TX	1.0	1.0	914	$1,258	$1.38	140d	1	0.06mi
3451 Tangle Brush Dr The Woodlands, TX	1.0–3.0	1.0–1.5	825	$1,318	$1.60	57d	1	0.13mi
333 Holly Creek Ct The Woodlands, TX	1.0–3.0	1.0–2.0	850	$1,188	$1.40	140d	1	0.99mi
365 Holly Creek Ct The Woodlands, TX	1.0	1.0	632	$1,036	$1.64	20d	1	1.08mi
429 Holly Creek Ct #129 The Woodlands, TX	1.0	1.0	632	$1,050	$1.66	1d	1	1.08mi
429 Holly Creek Ct #233 The Woodlands, TX	2.0	2.0	781	$1,152	$1.48	0d	1	1.08mi
351 Holly Creek Ct The Woodlands, TX	1.0	1.0	722	$1,090	$1.51	32d	1	1.08mi
365 Holly Creek Ct Unit 118 The Woodlands, TX	1.0	1.0	683	$910	$1.33	70d	1	1.08mi
397 Holly Creek Ct The Woodlands, TX	2.0	2.0	781	$1,264	$1.62	19d	1	1.08mi
4407 S Panther Creek Dr Spring, TX	1.0–2.0	1.0	645	$1,214	$1.88	140d	1	1.09mi

Property features AI

Finance

• Other: Public utilities
• HOA & community: Prestige Association ManagementMonthly association fee ($374) covering common areas, water, sewer and trashCommunity curbsAssociation provides trash service

Exterior

• Parking: CarportAssigned parkingAdditional parking1-car carport
• Security: Smoke detector(s)
• Utilities: Public waterPublic sewer
• Home design: Residential property3 storiesFull ownershipEntry on slab foundation
• Construction: Brick constructionComposition roofBuilt in 1982Slab foundation
• Exterior features: Balcony

Interior

• Kitchen: Electric rangeOvenMicrowaveDishwasherDisposal
• Bedrooms: Primary bedroom (third level)Bedroom (third level)
• Flooring: CarpetVinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air (electric)
• Interior features: Breakfast barHigh ceilingsKitchen/family room comboMultiple staircasesPantryTub with showerCeiling fan(s)Living/dining roomWood-burning fireplace (1)
• Laundry & utility: Washer and dryerLaundry in utility room

HOA detail $374/mo · $4,488/yr condo

• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-25
   days on market $136,000 Active 98 DOM
2. 2026-09-24
   days on market $136,000 Active 97 DOM
3. 2026-09-23
   days on market $136,000 Active 96 DOM
4. 2026-09-22
   days on market $136,000 Active 95 DOM
5. 2026-09-21
   days on market $136,000 Active 94 DOM
6. 2026-09-20
   days on market $136,000 Active 93 DOM
7. 2026-09-19
   days on market $136,000 Active 92 DOM
8. 2026-09-18
   days on market $136,000 Active 91 DOM
9. 2026-09-17
   days on market $136,000 Active 90 DOM
10. 2026-09-16
    days on market $136,000 Active 89 DOM
11. 2026-09-15
    days on market $136,000 Active 88 DOM
12. 2026-09-14
    days on market $136,000 Active 87 DOM
13. 2026-09-13
    days on market $136,000 Active 86 DOM
14. 2026-09-12
    days on market $136,000 Active 85 DOM
15. 2026-09-11
    days on market $136,000 Active 84 DOM
16. 2026-09-05
    days on market $136,000 Active 78 DOM
17. 2026-09-04
    days on market $136,000 Active 77 DOM
18. 2026-08-31
    days on market $136,000 Active 73 DOM
19. 2026-08-29
    days on market $136,000 Active 71 DOM
20. 2026-08-28
    days on market $136,000 Active 70 DOM
21. 2026-08-27
    days on market $136,000 Active 69 DOM
22. 2026-08-26
    days on market $136,000 Active 68 DOM
23. 2026-08-25
    days on market $136,000 Active 67 DOM
24. 2026-08-24
    days on market $136,000 Active 66 DOM
25. 2026-08-23
    days on market $136,000 Active 65 DOM
26. 2026-08-22
    days on market $136,000 Active 64 DOM
27. 2026-08-21
    days on market $136,000 Active 63 DOM
28. 2026-08-20
    days on market $136,000 Active 62 DOM
29. 2026-08-19
    days on market $136,000 Active 61 DOM
30. 2026-08-18
    days on market $136,000 Active 60 DOM
31. 2026-08-17
    days on market $136,000 Active 59 DOM
32. 2026-08-16
    days on market $136,000 Active 58 DOM
33. 2026-08-15
    days on market $136,000 Active 57 DOM
34. 2026-08-14
    days on market $136,000 Active 56 DOM
35. 2026-08-13
    days on market $136,000 Active 55 DOM
36. 2026-08-12
    days on market $136,000 Active 54 DOM
37. 2026-08-11
    days on market $136,000 Active 53 DOM
38. 2026-08-10
    days on market $136,000 Active 52 DOM
39. 2026-08-09
    days on market $136,000 Active 51 DOM
40. 2026-08-08
    days on market $136,000 Active 50 DOM
41. 2026-08-06
    days on market $136,000 Active 48 DOM
42. 2026-08-05
    days on market $136,000 Active 47 DOM
43. 2026-08-04
    days on market $136,000 Active 46 DOM
44. 2026-08-03
    days on market $136,000 Active 45 DOM
45. 2026-07-31
    days on market $136,000 Active 42 DOM
46. 2026-07-30
    days on market $136,000 Active 40 DOM
47. 2026-07-28
    days on market $136,000 Active 39 DOM
48. 2026-07-26
    days on market $136,000 Active 37 DOM
49. 2026-07-24
    days on market $136,000 Active 35 DOM
50. 2026-07-23
    days on market $136,000 Active 34 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°F today · 25 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,522
• − Mortgage interest: −$7,618
• − Property taxes: −$2,040
• − Insurance: −$680
• − Repairs & maintenance: −$1,482
• − Management: −$1,482
• − HOA: −$4,488
• − Depreciation: −$3,956
• Taxable loss: −$3,224
• Est. tax savings @ 24.0%: +$774
• After-tax cash flow: $-360/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 · 13 photos

Good 75/100 Cosmetic rehab Est. rehab $4,765–$14,295 screening

This 2-bedroom, 2-bath condo in The Woodlands is in good condition with cosmetic updates needed. It offers a spacious layout and is located in a quiet, tree-lined community with access to amenities.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and property value. ↑
• Both Clean carpets — Freshens the interior and makes the space more inviting. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

C Composite school gradezoned avg 70/100

Zoned Schools

Elementary Glen Loch El D TX #865/4,322 Nat'l #12,785/41,679 Middle Mccullough J H A+ TX #9/1,662 Nat'l #227/14,009 High The Woodlands H S A- TX #53/1,632 Nat'l #1,271/17,239

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

A Composite livability gradescore 91/100

Livability — The Woodlands

• Score: 91/100
• State rank: #1
• US rank: #47

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: The Woodlands, TX
• County: Montgomery County · 713,896 people
• City population: 106,505
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 36,139
• Household income: $143,565
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 12% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Hispanic / Latino 16% Two or more races 11% Asian 5% Black 2%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Italian 4% Lithuanian 3% Serbian 3%
• Foreign-born: 18% · Canada, China, Dominican Republic
• Languages at home: 81% English-only · Spanish 11% Other Indo-European 2% Chinese 2%

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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: ▼ -122.06%
• Current HPI: 271.7165
• Rent YoY: ▲ 2.09%
• Metro: Houston-The Woodlands-Sugar Land, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

Property features AI

Finance

• Other: Public utilities
• HOA & community: Prestige Association ManagementMonthly association fee ($374) covering common areas, water, sewer and trashCommunity curbsAssociation provides trash service

Exterior

• Parking: CarportAssigned parkingAdditional parking1-car carport
• Security: Smoke detector(s)
• Utilities: Public waterPublic sewer
• Home design: Residential property3 storiesFull ownershipEntry on slab foundation
• Construction: Brick constructionComposition roofBuilt in 1982Slab foundation
• Exterior features: Balcony

Interior

• Kitchen: Electric rangeOvenMicrowaveDishwasherDisposal
• Bedrooms: Primary bedroom (third level)Bedroom (third level)
• Flooring: CarpetVinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric)Central air (electric)
• Interior features: Breakfast barHigh ceilingsKitchen/family room comboMultiple staircasesPantryTub with showerCeiling fan(s)Living/dining roomWood-burning fireplace (1)
• Laundry & utility: Washer and dryerLaundry in utility room

Price history

-15.0% since first listed

11 events — show timeline

• 2026-06-19 Listed $136,000 HARMLS
• 2026-05-18 Listing Removed — HARMLS
• 2026-04-23 Price Changed $143,000 HARMLS
• 2026-01-19 Listed $147,000 HARMLS
• 2026-01-13 Listing Removed — HARMLS
• 2025-08-22 Price Changed $149,900 HARMLS
• 2025-06-20 Listed $159,000 HARMLS
• 2025-04-28 Listing Removed — HARMLS
• 2025-02-04 Listed $165,000 HARMLS
• 2025-01-25 Listing Removed — HARMLS
• 2024-10-24 Listed $160,000 HARMLS