12900 Walden Rd Unit 812 H · Conroe, TX 77356

$95,000

2 bd · 2.0 ba · 866 sqft · Condo · 31 Days on market

Built 1982 Fair condition $437/mo HOA · 26% of rent ↓ 26% 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 +25.8/30.0
• 1% rule +10.0/10.0
• DSCR +8.6/10.0
• ARV discount +7.5/15.0
• Schools +5.4/10.0
• Livability +3.7/5.0
• Condition / age +2.2/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WELCOME HOME! This move in ready 2bdrm 2bath is the perfect place to call home! This home includes all appliances including w/ d and refrigerator! The balcony has a view to the community pool. This condo is the perfect place to live, rent, or even Airbnb! The possibilities are endless! This community offers many amenities such as pool, tennis, walking distance from golf course, and Lake Conroe. This home won't last long! Schedule a showing TODAY!

Key facts

• Hot tub
• Private balcony
• Eat-in kitchen

Tags

• PRIVATE BALCONY
• EAT-IN KITCHEN
• STACKABLE WASHER DRYER CLOSET
• PRIVATE EN-SUITE BATHS
• TWO POOLS
• HOT TUB

Property features AI

Finance

• Other: Located in a community with curbs and gutters; Municipal Utility District disclosure and seller disclosure provided
• HOA & community: Part of The Eighteenth at Walden association; Monthly HOA fee; Association amenities: clubhouse, community pool, maintained grounds, trash service; HOA covers clubhouse, common areas, grounds maintenance, structure maintenance, recreation facilities, sewer, trash, and water

Exterior

• Parking: Additional unassigned parking
• Utilities: Public water; Public sewer
• Home design: Residential property; 2 stories; Built in 1982; Slab foundation; Composition roof
• Construction: Wood siding construction
• Exterior features: Balcony; Tennis courts; Association pool

Interior

• Kitchen: Dishwasher; Electric oven; Free-standing range; Garbage disposal; Granite counters
• Bedrooms: 4 rooms total (includes bedrooms and other rooms)
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central electric air conditioning; Programmable thermostat
• Interior features: Double vanity; Granite counters; High ceilings; Jetted tub; Tub with shower; Vaulted ceilings; Window treatments; Ceiling fans; Programmable thermostat; Window coverings
• Laundry & utility: Stacked washer/dryer; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $95k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% vs local median 3.1% in Conroe — 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 74/100 on livability (#169 in TX, #4,447 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, amenities B; Watch: commute F, health & safety F.
• Montgomery ISD (rural): math 63% / reading 57% proficiency, ranked #49 of 826 in TX (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Madeley Ranch El (math 59% / reading 55%, grade C+, #505 of 4,322 statewide, top 13%, 786 students, 26% FRL); Montgomery J H (math 68% / reading 54%, grade B+, #145 of 1,662 statewide, top 9%, 1,045 students, 30% FRL); Montgomery H S (math 53% / reading 62%, grade C, #327 of 1,632 statewide, top 20%, 1,556 students, 25% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: Rents falling (-3.3%/yr); 1067 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 13,259 units permitted in Montgomery County in 2024 (1,402 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k 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 31 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 26% of rent.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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 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: 1.77% ✓
• Cap rate: 9.22%
• Cash-on-cash: 10.44%
• DSCR: 1.46
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -5.6%
• Equity multiple: 0.80×
• Total profit: $-5,270
• Equity at exit: $14,165

10-year hold

• IRR: -2.4%
• Equity multiple: 0.87×
• Total profit: $-3,403
• Equity at exit: $8,214

Cash invested: $26,600 (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 77356

• Home prices YoY: -30.3%
• Rents YoY: -3.3%
• Active inventory: 1067
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,677 medium
• Mortgage (P&I): −$498
• Tax est. 1.5%: −$119 /mo · $1,425/yr
• Insurance: −$40
• HOA: −$437
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $232

Break-even live

Break-even rent $1,384

Max offer price $95,000

Occupancy floor 81%

Sensitivity live

Price	-10% $297	-5% $264	+0% $232	+5% $199	+10% $166
Rent	-10% $99	-5% $165	+0% $232	+5% $298	+10% $364
Rate	-1.0pp $279	-0.5pp $256	base $232	+0.5pp $207	+1.0pp $182

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12500 Melville Dr Unit 317B Montgomery, TX	2.0	2.0	902	$1,550	$1.72	45d	1	0.92mi
12500 Melville Dr Unit 227C Montgomery, TX	2.0	2.0	917	$1,700	$1.85	45d	1	0.92mi
12100 Melville Dr Montgomery, TX	2.0	2.0	964	$1,750	$1.82	45d	2	1.10mi
298 Capetown Way Unit A Montgomery, TX	2.0	1.5	1100	$1,400	$1.27	45d	1	1.26mi

HOA detail condo

• Monthly dues: $437 · $5,244/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $95,000 Active 31 DOM
2. 2026-06-18
   days on market $95,000 Active 28 DOM
3. 2026-06-17
   days on market $95,000 Active 27 DOM
4. 2026-06-16
   days on market $95,000 Active 26 DOM
5. 2026-06-15
   days on market $95,000 Active 25 DOM
6. 2026-06-13
   days on market $95,000 Active 23 DOM
7. 2026-06-13
   days on market $95,000 Active 22 DOM
8. 2026-06-09
   days on market $95,000 Active 19 DOM
9. 2026-06-08
   days on market $95,000 Active 18 DOM
10. 2026-06-07
    days on market $95,000 Active 17 DOM
11. 2026-06-04
    days on market $95,000 Active 14 DOM
12. 2026-06-03
    days on market $95,000 Active 13 DOM
13. 2026-06-02
    days on market $95,000 Active 12 DOM
14. 2026-06-01
    days on market $95,000 Active 11 DOM
15. 2026-05-31
    days on market $95,000 Active 10 DOM
16. 2026-05-21
    listed $95,000 Active
17. 2022-03-29
    soldstatus Sold 456-char remark

    Show marketing remark (456 chars)

    WELCOME HOME! This move in ready 2bdrm 2bath is the perfect place to call home! This home includes all appliances including w/ d and refrigerator! The balcony has a view to the community pool. This condo is the perfect place to live, rent, or even Airbnb! The possibilities are endless! This community offers many amenities such as pool, tennis, walking distance from golf course, and Lake Conroe. This home won't last long! Schedule a showing TODAY!

18. 2022-03-09
    status Pending 456-char remark

    Show marketing remark (456 chars)

    WELCOME HOME! This move in ready 2bdrm 2bath is the perfect place to call home! This home includes all appliances including w/ d and refrigerator! The balcony has a view to the community pool. This condo is the perfect place to live, rent, or even Airbnb! The possibilities are endless! This community offers many amenities such as pool, tennis, walking distance from golf course, and Lake Conroe. This home won't last long! Schedule a showing TODAY!

19. 2022-02-28
    status Option Pending 456-char remark

    Show marketing remark (456 chars)

    WELCOME HOME! This move in ready 2bdrm 2bath is the perfect place to call home! This home includes all appliances including w/ d and refrigerator! The balcony has a view to the community pool. This condo is the perfect place to live, rent, or even Airbnb! The possibilities are endless! This community offers many amenities such as pool, tennis, walking distance from golf course, and Lake Conroe. This home won't last long! Schedule a showing TODAY!

20. 2022-02-16
    listed $129,000 Active 456-char remark

    Show marketing remark (456 chars)

    WELCOME HOME! This move in ready 2bdrm 2bath is the perfect place to call home! This home includes all appliances including w/ d and refrigerator! The balcony has a view to the community pool. This condo is the perfect place to live, rent, or even Airbnb! The possibilities are endless! This community offers many amenities such as pool, tennis, walking distance from golf course, and Lake Conroe. This home won't last long! Schedule a showing TODAY!

ⓘ 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 8/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $20,127
• − Mortgage interest: −$5,321
• − Property taxes: −$1,425
• − Insurance: −$475
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − HOA: −$5,244
• − Depreciation: −$2,764
• Taxable income: $1,678
• Est. tax owed @ 24.0%: −$403
• After-tax cash flow: $2,376/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 · 2 photos

Fair 45/100 Cosmetic rehab

This condo is in fair condition with good exterior and interior features. It has a good curb appeal and is ready for a fresh coat of paint to enhance its value.

Value-add opportunities

• Both Paint exterior — Painting the exterior can enhance curb appeal and add value to the property.
• Both Landscaping improvements — Improving the landscaping can enhance the property's curb appeal and attract more potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior — Painting the exterior can enhance curb appeal and add value to the property. ↑
• Both Landscaping improvements — Improving the landscaping can enhance the property's curb appeal and attract more potential buyers or renters. ↑

ⓘ 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: Montgomery ISD
• NCES district ID: 4831260
• Math proficiency: 63% ▼ -3.00%
• Reading proficiency: 57% ▼ -3.00%
• Median HH income: $75,596
• Composite: 53.55/100
• National rank: #1445
• State rank: #49 of 826 in TX

Livability — Conroe

• Score: 74/100
• State rank: #169
• US rank: #4447

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montgomery County · 663,713 people
• City population: 205,417
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 32,583
• Household income: $106,804
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 414.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 5% Black 4%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -101.28%
• Current HPI: 233.0032
• Rent YoY: ▼ -3.30%
• 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

-26.4% since first listed

5 events — show timeline

• 2026-05-21 Listed $95,000 HARMLS
• 2022-03-29 Sold (MLS) — HARMLS
• 2022-03-09 Pending — HARMLS
• 2022-02-28 Pending — HARMLS
• 2022-02-16 Listed $129,000 HARMLS