5427 Tourmaline Way · Fulshear, TX 77423

$324,900

4 bd · 3.0 ba · 2,364 sqft · SingleFamily public records · 18 Days on market

Built 2021 Good condition 6,594 sqft lot $137/sqft · at area comps Est $340k · at est. $75/mo HOA · 2% of rent ↓ 2% 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 +11.1/30.0
• ARV discount +9.5/15.0
• 1% rule +5.3/10.0
• Schools +4.6/10.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• DSCR +3.2/10.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The spacious two-story Coleman C floor plan from the Magnolia Collection by Lennar features a large front porch which opens to an inviting entry foyer. The foyer leads to a lovely open island kitchen which adjoins a casual dining room and a generous family room with backyard access. The first floor master bedroom features an en suite master bathroom with a standing shower, private toilet enclosure, and an oversized walk-in master closet. The first floor also features a secondary bedroom with a walk-in closet, and a full bathroom. The second floor features an oversized game room, two additional secondary bedrooms, and a full bathroom.

Key facts

• Dual vanities
• Island kitchen
• Front porch

Tags

• FRONT PORCH
• ISLAND KITCHEN
• WALK IN CLOSET
• DUAL VANITIES
• WALK IN SHOWER
• GAME ROOM

Property features AI

Finance

• Other: Association-managed pool (association amenity)
• HOA & community: Homeowners association (Associa Principal Management Grou); Annual association fee of $900 (covers common areas and recreation facilities); Community pool; Playground; Trails

Exterior

• Parking: Attached 2-car garage; Driveway; Garage with automatic door opener
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 2021; Slab foundation; Composition roof
• Construction: Brick and cement siding construction
• Exterior features: Fenced backyard; Porch; Backs to greenbelt/park; Subdivision setting

Interior

• Kitchen: Dishwasher; Free-standing range; Gas oven; Gas range; Microwave; Oven; Refrigerator; Disposal
• Bedrooms: 8 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Plank; Vinyl
• Bathrooms: 3 full bathrooms
• Heating & cooling: Central heating (gas); Central air (electric)
• Interior features: Granite counters; Kitchen island; Window treatments; Kitchen/dining combo; Living/dining room
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/3.0-bath single-family listed at $325k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-130 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $302k (7.1% below list).
• Meets the 1% rule at list price ($3k rent vs $325k).
• Recommended offer: $302k (7.1% below list) — sets the bar for cash-flow.
• Cap rate 5.8% 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: Huggins El (math 61% / reading 63%, grade B, #321 of 4,322 statewide, top 8%, 893 students, 23% FRL); 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 (-1.0%/yr); 1014 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 12,093 units permitted in Fort Bend County in 2024 (815 in 5+ unit buildings).
• At $3,349/mo this rent would consume 48% of the median local household income ($84k/yr) (locally 20% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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 18 days — a 2% lower offer ($320k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y 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: property tax is 3.2% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $301,889 (7.1% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.03% ✓
• Cap rate: 5.81%
• Cash-on-cash: -1.72%
• DSCR: 0.92
• GRM: 8.1

CMA / ARV

• ARV (median comp): $339,984
• List price: $324,900
• Delta: -0.29%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5711 Sunland Trl	0.34mi	4/3.0	2,402 (+2%)	1mo	$391,990	$163	81
32215 Sunbeam Dr	0.40mi	4/3.0	2,417 (+2%)	1mo	$364,990	$151	77
5727 Daylight Cv	0.44mi	4/3.0	2,412 (+2%)	3mo	$310,000	$129	74
32407 Sunbeam Dr	0.54mi	4/3.0	2,353 (-0%)	2mo	$352,990	$150	73
32107 Morning Luster Ct	0.52mi	4/3.0	2,402 (+2%)	1mo	$369,990	$154	72
32511 Midsummer Dr	0.54mi	4/2.5	2,342 (-1%)	1mo	$350,990	$150	71
32503 Midsummer Dr	0.53mi	4/2.5	2,342 (-1%)	1mo	$324,990	$139	71
32447 Sunbeam Dr	0.61mi	4/2.5	2,342 (-1%)	2mo	$326,990	$140	66
32455 Sunbeam Dr	0.63mi	4/2.5	2,342 (-1%)	2mo	$329,990	$141	66
32919 Turning Springs Dr	0.53mi	4/2.5	2,260 (-4%)	4mo	$334,900	$148	63
32127 Morning Luster Ct	0.51mi	5/3.0 (+1)	2,677 (+13%)	1mo	$389,990	$146	48
32223 Sunbeam Dr	0.41mi	5/4.0 (+1)	2,697 (+14%)	0mo	$379,990	$141	48

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -23.3%
• Equity multiple: 0.23×
• Total profit: $-70,383
• Equity at exit: $48,444

10-year hold

• IRR: -33.1%
• Equity multiple: -0.19×
• Total profit: $-108,373
• Equity at exit: $28,091

Cash invested: $90,972 (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 77423

• Rents YoY: -1.0%
• Active inventory: 1014
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $3,349 high
• Mortgage (P&I): −$1,704
• Tax from tax record: −$862 /mo · $10,344/yr
• Insurance: −$135
• HOA: −$75
• Vacancy / Maint / Mgmt: −$703
• Net cashflow: $-130

Break-even live

Break-even rent $3,514

Max offer price $301,889

Occupancy floor 99%

Sensitivity live

Price	-10% $54	-5% $-38	+0% $-130	+5% $-222	+10% $-314
Rent	-10% $-395	-5% $-263	+0% $-130	+5% $2	+10% $134
Rate	-1.0pp $33	-0.5pp $-48	base $-130	+0.5pp $-214	+1.0pp $-300

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: $81,225
• Closing costs: $9,747
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5462 Grand View Dr Unit 1568482P Pattison, TX	5.0	3.5	2992	$3,732	$1.25	0d	1	0.19mi
5222 Wyatt James Ln Brookshire, TX	4.0	2.5	2487	$3,250	$1.31	14d	1	0.56mi
33002 Franklin Brooks Dr Pattison, TX	4.0	3.5	3255	$4,385	$1.35	0d	1	0.70mi
31043 Vintage Creek Ln Fulshear, TX	4.0	3.5	2800	$3,300	$1.18	24d	1	1.19mi
31123 Brightwell Bnd Fulshear, TX	4.0	3.0	2400	$2,400	$1.00	14d	1	1.28mi
7302 New Pecan Dr Fulshear, TX	4.0	4.0	2844	$3,299	$1.16	45d	1	1.30mi

HOA detail

• Monthly dues: $75 · $900/yr

Listing history 19 events

1. 2026-06-21
   statusdays on market $324,900 Pending 18 DOM
2. 2026-06-18
   days on market $324,900 Active 15 DOM
3. 2026-06-17
   days on market $324,900 Active 14 DOM
4. 2026-06-16
   days on market $324,900 Active 13 DOM
5. 2026-06-15
   days on market $324,900 Active 12 DOM
6. 2026-06-13
   days on market $324,900 Active 10 DOM
7. 2026-06-09
   days on market $324,900 Active 6 DOM
8. 2026-06-08
   days on market $324,900 Active 5 DOM
9. 2026-06-07
   days on market $324,900 Active 4 DOM
10. 2026-06-04
    pricedays on marketlisting id $324,900 Active 1 DOM
11. 2026-06-03
    days on market $339,000 Active 250 DOM
12. 2026-06-02
    days on market $339,000 Active 249 DOM
13. 2026-06-01
    days on market $339,000 Active 248 DOM
14. 2026-05-31
    days on market $339,000 Active 247 DOM
15. 2025-09-26
    listed $339,000 Active 962-char remark
16. 2022-01-18
    soldstatus Sold 641-char remark

    Show marketing remark (641 chars)

    The spacious two-story Coleman C floor plan from the Magnolia Collection by Lennar features a large front porch which opens to an inviting entry foyer. The foyer leads to a lovely open island kitchen which adjoins a casual dining room and a generous family room with backyard access. The first floor master bedroom features an en suite master bathroom with a standing shower, private toilet enclosure, and an oversized walk-in master closet. The first floor also features a secondary bedroom with a walk-in closet, and a full bathroom. The second floor features an oversized game room, two additional secondary bedrooms, and a full bathroom.

17. 2021-10-18
    status Pending 641-char remark

    Show marketing remark (641 chars)

    The spacious two-story Coleman C floor plan from the Magnolia Collection by Lennar features a large front porch which opens to an inviting entry foyer. The foyer leads to a lovely open island kitchen which adjoins a casual dining room and a generous family room with backyard access. The first floor master bedroom features an en suite master bathroom with a standing shower, private toilet enclosure, and an oversized walk-in master closet. The first floor also features a secondary bedroom with a walk-in closet, and a full bathroom. The second floor features an oversized game room, two additional secondary bedrooms, and a full bathroom.

18. 2021-10-05
    price $325,050 641-char remark

    Show marketing remark (641 chars)

    The spacious two-story Coleman C floor plan from the Magnolia Collection by Lennar features a large front porch which opens to an inviting entry foyer. The foyer leads to a lovely open island kitchen which adjoins a casual dining room and a generous family room with backyard access. The first floor master bedroom features an en suite master bathroom with a standing shower, private toilet enclosure, and an oversized walk-in master closet. The first floor also features a secondary bedroom with a walk-in closet, and a full bathroom. The second floor features an oversized game room, two additional secondary bedrooms, and a full bathroom.

19. 2021-09-23
    listed $330,000 Active 641-char remark

    Show marketing remark (641 chars)

    The spacious two-story Coleman C floor plan from the Magnolia Collection by Lennar features a large front porch which opens to an inviting entry foyer. The foyer leads to a lovely open island kitchen which adjoins a casual dining room and a generous family room with backyard access. The first floor master bedroom features an en suite master bathroom with a standing shower, private toilet enclosure, and an oversized walk-in master closet. The first floor also features a secondary bedroom with a walk-in closet, and a full bathroom. The second floor features an oversized game room, two additional secondary bedrooms, and a full bathroom.

ⓘ 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: $10,344 · $862/mo
• Projected year-2 tax: $10,344 · $862/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $40,191
• − Mortgage interest: −$18,199
• − Property taxes: −$10,344
• − Insurance: −$1,624
• − Repairs & maintenance: −$3,215
• − Management: −$3,215
• − HOA: −$900
• − Depreciation: −$9,452
• Taxable loss: −$6,759
• Est. tax savings @ 24.0%: +$1,622
• After-tax cash flow: $59/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 · 12 photos

Good 80/100 None rehab

This two-story home is in good condition with a good condition score of 80. It has a good exterior, interior, and appliances. The home is move-in ready and has a good curb appeal.

Value-add opportunities

• Resale Paint exterior trim — Enhances curb appeal and can increase property value
• Rental Clean gutters — Keeps property in good condition and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Enhances curb appeal and can increase property value ↑
• Rental Clean gutters — Keeps property in good condition and reduces maintenance costs ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• County: Waller County · 18,767 people
• City population: 41,324
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 18,767
• Household income: $84,490
• Rent vs Own: 20.6% rent · 79.4% own
• Severe rent burden: 20.0

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 0.64)
• Race & ethnicity: Hispanic / Latino 41% White 41% Black 14% Two or more races 13% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 30% Cuban 2%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 1%
• Foreign-born: 17% · Canada, China, Dominican Republic
• Languages at home: 65% English-only · Spanish 32% French/Haitian/Cajun 1% Other Indo-European 1%

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: ▼ -125.28%
• Current HPI: 204.8709
• Rent YoY: ▼ -1.01%
• 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

-1.5% since first listed

8 events — show timeline

• 2026-06-18 Pending — HARMLS
• 2026-06-03 Listing Removed — HARMLS
• 2026-06-03 Listed $324,900 HARMLS
• 2025-09-26 Listed $339,000 HARMLS
• 2022-01-18 Sold (MLS) — HARMLS
• 2021-10-18 Pending — HARMLS
• 2021-10-05 Price Changed $325,050 HARMLS
• 2021-09-23 Listed $330,000 HARMLS

Property tax history

-2.1%/yr

Latest (2025): $10,344 · -1.9% YoY. Source: county tax records.