32547 Summer Vista Ln · Fulshear, TX 77441

$334,990

4 bd · 3.0 ba · 2,353 sqft · Land · 45 Days on market

Built 2026 5,286 sqft lot $61/mo HOA · 2% of rent ↓ 6% since listing

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Why this score? — see what drove the C- 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 +20.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• Schools +4.6/10.0
• 1% rule +4.5/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 32547 Summer Vista Lane, Fulshear, Texas — a beautifully crafted new construction home built by M/I Homes. This 2-story home offers 2,353 square feet of thoughtfully designed living space with 4 bedrooms and 3 bathrooms, perfect for comfortable everyday living. Step inside to discover an open-concept living space that creates a seamless flow between the main gathering areas. The quality of design throughout this home is evident in every detail, from the well-planned floorplan to the carefully selected finishes that bring style and function together. Key Features: 4 bedrooms and 3 bathrooms across 2 levels 2,353 square feet of living space New construction by M/I Homes Open-concept living space for effortless entertaining Spacious owner's bedroom with en-suite bathroom Covered patio for outdoor relaxation Quality craftsmanship and design throughout This home is situated in a welcoming neighborhood that offers convenient proximity to parks, providing excellent options for outdoor recreation and leisure. The surrounding area features well-maintained streetscapes and a family-friendly atmosphere that residents enjoy year-round. With its generous layout, quality construction, and inviting outdoor space, this home delivers the comfort and functionality that today's buyers are looking for. The covered patio extends your living area outdoors, creating an ideal spot for gatherings or quiet evenings. MLS# 5635646

Key facts

• 5,286 sq ft lot
• 2 garage spots
• Built 2026

Property features AI

Finance

• HOA & community: Community managed by King Property Management; Annual association fee

Exterior

• Parking: Attached garage; 2-car garage
• Security: Owned security system
• Utilities: Public sewer
• Home design: Residential property; Faces north; Under construction (new construction); Slab foundation
• Construction: Built by M/I Homes; Brick construction; Composition roof; Year built 2026
• Exterior features: Covered patio; Patio; Deck; Back yard fence; Subdivision lot setting

Interior

• Kitchen: Dishwasher; Disposal; Gas oven; Gas range; Microwave; Kitchen island; Pantry
• Bedrooms: Primary bedroom on the first floor (12 x 19); Bedroom on the first floor (10 x 11); Bedroom on the second floor (11 x 12); Bedroom on the second floor (15 x 12)
• Flooring: Carpet; Vinyl
• Bathrooms: Three full bathrooms; Double vanities in baths
• Heating & cooling: Central heating (gas); Central air conditioning (electric); Thermostat energy-efficient feature
• Interior features: Double vanity; Kitchen island; Kitchen/family room combo; Pantry; Tub with shower; Ceiling fans; Kitchen/dining combo; Programmable thermostat; Ventilation for improved indoor air quality
• Laundry & utility: Programmable thermostat (utility/comfort control)

🏗️ New construction. The $334,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $314,114.

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath land listed at $335k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/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 $298k (11.0% below list).
• Recommended offer: $298k (11.0% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 3.2% in Fulshear — 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 69/100 on livability (#430 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, cost of living 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.
• Zoned schools: Dean Leaman J H School (math 59% / reading 56%, grade B, #206 of 1,662 statewide, top 13%, 2,191 students, 32% FRL); Fulshear H S (math 52% / reading 70%, grade C+, #258 of 1,632 statewide, top 16%, 2,464 students, 30% FRL).
• Market conditions: Rents soft (-1.6%/yr); 1213 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 12,093 units permitted in Fort Bend County in 2024 (815 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 $9k of value loss. Plan a longer hold.
• Fort Bend County population projected at +75% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($325k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $21k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $298,173 (11.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 0.95% ✗
• Cap rate: 7.78%
• Cash-on-cash: 5.32%
• DSCR: 1.24
• GRM: 8.8

CMA / ARV

• ARV (median comp): $314,114
• List price: $334,990
• Delta: 6.65%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.2%
• Equity multiple: 0.60×
• Total profit: $-34,867
• Equity at exit: $46,835

10-year hold

• IRR: -6.6%
• Equity multiple: 0.63×
• Total profit: $-32,460
• Equity at exit: $27,159

Cash invested: $87,952 (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 77441

• Rents YoY: -1.6%
• Active inventory: 1213
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,982 medium
• Mortgage (P&I): −$1,647
• Tax from tax record: −$126 /mo · $1,515/yr
• Insurance: −$131
• HOA: −$61
• Vacancy / Maint / Mgmt: −$626
• Net cashflow: $390

Break-even live

Break-even rent $2,488

Max offer price $314,114

Occupancy floor 82%

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: $78,528
• Closing costs: $9,423
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31419 Horseshoe Meadow Bend Ln Fulshear, TX	3.0	2.0	1588	$2,100	$1.32	44d	1	0.44mi
8106 Royal Palm Ct Fulshear, TX	5.0	4.0	2946	$2,950	$1.00	44d	1	0.49mi
8114 Royal Palm Ct Fulshear, TX	5.0	4.0	2960	$3,295	$1.11	44d	1	0.52mi
7302 New Pecan Dr Fulshear, TX	4.0	4.0	2844	$3,299	$1.16	44d	1	0.74mi

HOA detail

• Monthly dues: $61 · $732/yr

Listing history 16 events

1. 2026-06-18
   days on market $334,990 Active 45 DOM
2. 2026-06-17
   days on market $334,990 Active 44 DOM
3. 2026-06-16
   days on market $334,990 Active 43 DOM

   Show marketing remark (1452 chars)

   Welcome to 32547 Summer Vista Lane, Fulshear, Texas — a beautifully crafted new construction home built by M/I Homes. This 2-story home offers 2,353 square feet of thoughtfully designed living space with 4 bedrooms and 3 bathrooms, perfect for comfortable everyday living. Step inside to discover an open-concept living space that creates a seamless flow between the main gathering areas. The quality of design throughout this home is evident in every detail, from the well-planned floorplan to the carefully selected finishes that bring style and function together. Key Features: 4 bedrooms and 3 bathrooms across 2 levels 2,353 square feet of living space New construction by M/I Homes Open-concept living space for effortless entertaining Spacious owner's bedroom with en-suite bathroom Covered patio for outdoor relaxation Quality craftsmanship and design throughout This home is situated in a welcoming neighborhood that offers convenient proximity to parks, providing excellent options for outdoor recreation and leisure. The surrounding area features well-maintained streetscapes and a family-friendly atmosphere that residents enjoy year-round. With its generous layout, quality construction, and inviting outdoor space, this home delivers the comfort and functionality that today's buyers are looking for. The covered patio extends your living area outdoors, creating an ideal spot for gatherings or quiet evenings. MLS# 5635646

4. 2026-06-15
   price $334,990 Active 42 DOM
5. 2026-06-15
   days on market $342,990 Active 42 DOM
6. 2026-06-13
   days on market $342,990 Active 40 DOM
7. 2026-06-09
   days on market $342,990 Active 36 DOM
8. 2026-06-08
   days on market $342,990 Active 35 DOM
9. 2026-06-07
   days on market $342,990 Active 34 DOM
10. 2026-06-04
    days on market $342,990 Active 31 DOM
11. 2026-06-03
    days on market $342,990 Active 30 DOM
12. 2026-06-02
    pricedays on market $342,990 Active 29 DOM

    Show marketing remark (1452 chars)

    Welcome to 32547 Summer Vista Lane, Fulshear, Texas — a beautifully crafted new construction home built by M/I Homes. This 2-story home offers 2,353 square feet of thoughtfully designed living space with 4 bedrooms and 3 bathrooms, perfect for comfortable everyday living. Step inside to discover an open-concept living space that creates a seamless flow between the main gathering areas. The quality of design throughout this home is evident in every detail, from the well-planned floorplan to the carefully selected finishes that bring style and function together. Key Features: 4 bedrooms and 3 bathrooms across 2 levels 2,353 square feet of living space New construction by M/I Homes Open-concept living space for effortless entertaining Spacious owner's bedroom with en-suite bathroom Covered patio for outdoor relaxation Quality craftsmanship and design throughout This home is situated in a welcoming neighborhood that offers convenient proximity to parks, providing excellent options for outdoor recreation and leisure. The surrounding area features well-maintained streetscapes and a family-friendly atmosphere that residents enjoy year-round. With its generous layout, quality construction, and inviting outdoor space, this home delivers the comfort and functionality that today's buyers are looking for. The covered patio extends your living area outdoors, creating an ideal spot for gatherings or quiet evenings. MLS# 5635646

13. 2026-06-01
    days on market $348,990 Active 28 DOM
14. 2026-05-31
    days on market $348,990 Active 27 DOM
15. 2026-05-05
    listed $355,990 Active 1452-char remark

    Show marketing remark (1452 chars)

    Welcome to 32547 Summer Vista Lane, Fulshear, Texas — a beautifully crafted new construction home built by M/I Homes. This 2-story home offers 2,353 square feet of thoughtfully designed living space with 4 bedrooms and 3 bathrooms, perfect for comfortable everyday living. Step inside to discover an open-concept living space that creates a seamless flow between the main gathering areas. The quality of design throughout this home is evident in every detail, from the well-planned floorplan to the carefully selected finishes that bring style and function together. Key Features: 4 bedrooms and 3 bathrooms across 2 levels 2,353 square feet of living space New construction by M/I Homes Open-concept living space for effortless entertaining Spacious owner's bedroom with en-suite bathroom Covered patio for outdoor relaxation Quality craftsmanship and design throughout This home is situated in a welcoming neighborhood that offers convenient proximity to parks, providing excellent options for outdoor recreation and leisure. The surrounding area features well-maintained streetscapes and a family-friendly atmosphere that residents enjoy year-round. With its generous layout, quality construction, and inviting outdoor space, this home delivers the comfort and functionality that today's buyers are looking for. The covered patio extends your living area outdoors, creating an ideal spot for gatherings or quiet evenings. MLS# 5635646

16. 2026-05-04
    listed $355,990 Active 677-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: $1,515 · $126/mo
• Projected year-2 tax: $6,130 · $511/mo
• Expected delta: +$4,616/yr (+$385/mo · 304.7%)

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

Taxation est. · year 1

• Rental income: $35,781
• − Mortgage interest: −$17,595
• − Property taxes: −$1,515
• − Insurance: −$1,571
• − Repairs & maintenance: −$2,862
• − Management: −$2,862
• − HOA: −$732
• − Depreciation: −$9,138
• Taxable loss: −$495
• Est. tax savings @ 24.0%: +$119
• After-tax cash flow: $4,801/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: Lamar CISD
• NCES district ID: 4826580
• Math proficiency: 50% ▼ -12.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $75,213
• Composite: 46.43/100
• National rank: #2452
• State rank: #116 of 826 in TX

Livability — Fulshear

• Score: 69/100
• State rank: #430
• US rank: #8901

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fulshear, TX
• County: Fort Bend County · 836,777 people
• City population: 41,324
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 41,324
• Household income: $184,390
• Rent vs Own: 8.0% rent · 92.0% own
• Severe rent burden: 301.0

Population outlook (Fort Bend County) Hauer SSP2

• Today (2025): 1,004,526 people
• By 2030: 1,153,104 · +14.8%
• By 2040: 1,453,718 · +44.7%
• By 2050: 1,753,781 · +74.6%
• By 2075: 2,455,772 · +144.5%
• By 2100: 2,930,528 · +191.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.62)
• Race & ethnicity: White 57% Hispanic / Latino 20% Two or more races 15% Asian 12% Black 6%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Lithuanian 5% Romanian 2% Italian 1%
• Foreign-born: 26% · Canada, China, Jamaica
• Languages at home: 68% English-only · Spanish 17% German/W. Germanic 4% Chinese 4%

Political lean MEDSL · Fort Bend

• 2024 margin: Toss-up / Even · D 49.5% · R 47.9% · Other 2.6%
• 2008→2024 swing: +4.0pp toward D · 2008: -2.4pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+10.6 2016: D+6.6 2012: R+6.8 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -154.74%
• Current HPI: 275.8798
• Rent YoY: ▼ -1.63%
• 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

-5.9% since first listed

8 events — show timeline

• 2026-06-16 Price Changed $334,990 Zillow
• 2026-06-15 Price Changed $334,990 HARMLS
• 2026-06-02 Price Changed $342,990 HARMLS
• 2026-06-02 Price Changed $342,990 Zillow
• 2026-05-27 Price Changed $348,990 Zillow
• 2026-05-26 Price Changed $348,990 HARMLS
• 2026-05-05 Listed $355,990 Zillow
• 2026-05-04 Listed $355,990 HARMLS