2000 Luminous Ln · Fulshear, TX 77423

$259,990

4 bd · 2.0 ba · 1,476 sqft · SingleFamily · 47 Days on market

Built 2026 Good condition 7,327 sqft lot Garage $100/mo HOA · 4% of rent ↓ 5% since listing

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Why this score? — see what drove the F 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 +7.5/15.0
• Cash flow +6.2/30.0
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Rent growth +2.2/5.0
• Schools +2.2/10.0
• 1% rule +1.8/10.0
• DSCR +0.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

The Baylor floor plan offers a functional and inviting layout with 1,476 square feet of thoughtfully designed living space. Featuring 4 bedrooms, 2 bathrooms, and a 2-car garage, this single-story home combines comfort and efficiency to suit a variety of lifestyles. The open-concept design connects the kitchen, dining, and family areas, creating a spacious and welcoming environment perfect for entertaining or everyday living. The modern kitchen includes ample cabinetry, countertop space, and a central island, making meal prep and gatherings effortless. Large windows throughout the main living area bring in natural light, enhancing the home's bright and airy feel. The private owner's suite, located at the back of the home, offers a relaxing retreat complete with a large walk-in closet and ensuite bath. Three additional bedrooms are positioned toward the front, ideal for children, guests, or a home office. A conveniently located laundry room and ample storage add everyday functionality. Designed for modern living, the Baylor floor plan balances open gathering spaces with private bedrooms, delivering the perfect blend of comfort, versatility, and style- all within a smart, efficient footprint that makes this home both practical and beautifully livable.

Key facts

• Community with pool
• Corner homesite
• Outdoor space

Tags

• CORNER HOMESITE
• GOURMET ISLAND KITCHEN
• OUTDOOR SPACE
• SPRINKLER SYSTEM
• COMMUNITY WITH POOL
• PLAYGROUND

🏗️ New construction. The $259,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $334,490.

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $260k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-609 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $246k (5.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $228k (12.2% below list).
• Recommended offer: $228k (12.2% below list) — sets the bar for 1% rule.

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.
• Royal ISD (rural): math 23% / reading 23% proficiency, ranked #744 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Royal El (math 27% / reading 20%, grade F, #3,247 of 4,322 statewide, top 76%, 762 students, 78% FRL); Royal J H (math 22% / reading 23%, grade F, #1,341 of 1,662 statewide, top 82%, 593 students, 73% FRL); Royal H S (math 17% / reading 26%, grade F, #1,377 of 1,632 statewide, top 85%, 842 students, 71% FRL) — zoned schools at 74% FRL track the district average.
• Market conditions: Rents soft (-1.0%/yr); 1235 active listings in the ZIP; solid renter incomes; 483 units permitted in Waller County in 2024 (89 in 5+ unit buildings).
• This rent runs 32% of the median local income ($84k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Waller County population projected at +62% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $23k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $228,185 (12.2% 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 47 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 0.68% ✗
• Cap rate: 4.11%
• Cash-on-cash: -7.80%
• DSCR: 0.65
• GRM: 12.2

CMA / ARV

• ARV (median comp): $334,490
• List price: $259,990
• Delta: -15.40%
• 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
3037 Helios Haven Dr	0.10mi	3/2.0 (-1)	1,574 (+7%)	5mo	$286,990	$182	75
3053 Duskshine Dr	0.26mi	3/2.0 (-1)	1,600 (+8%)	0mo	$253,990	$159	69
3073 Duskshine Dr	0.30mi	3/2.0 (-1)	1,600 (+8%)	2mo	$314,990	$197	65
397 Stone Placa Trl	0.89mi	3/2.5 (-1)	1,450 (-2%)	1mo	$264,730	$183	54
341 Stone Placa Trl	1.02mi	3/2.5 (-1)	1,450 (-2%)	1mo	$244,990	$169	54
1020 Star Skye Dr	0.39mi	3/2.0 (-1)	1,769 (+20%)	0mo	$307,040	$174	51
1012 Sunlit Cir	0.46mi	3/2.0 (-1)	1,769 (+20%)	1mo	$303,490	$172	48
364 Palero Path	1.03mi	3/2.0 (-1)	1,378 (-7%)	1mo	$254,990	$185	48
537 Stone Placa Trl	1.07mi	3/2.5 (-1)	1,566 (+6%)	1mo	$254,990	$163	47
448 Stone Placa	0.94mi	4/2.0	1,616 (+10%)	4mo	$260,000	$161	46
1013 Daybreak Dr	0.52mi	3/2.0 (-1)	1,769 (+20%)	2mo	$279,990	$158	44
429 Stone Placa Trl	0.90mi	4/2.0	1,689 (+14%)	3mo	$288,225	$171	38

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: -33.5%
• Equity multiple: -0.06×
• Total profit: $-99,576
• Equity at exit: $49,874

10-year hold

• IRR: -64.7%
• Equity multiple: -0.73×
• Total profit: $-162,102
• Equity at exit: $28,921

Cash invested: $93,657 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 52 active · 14 under contract
• Months of supply: 15.6 mo (6%/mo absorbed)
• Median asking: $294,990 ($178/sqft)
• Median days on market: 139 d
• This list price: 13% of active listings are priced below it
• ARV vs active asking: +27.4% above current asking $/sqft

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

ZIP-level market 77423

• Rents YoY: -1.0%
• Active inventory: 1235
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,282 medium
• Mortgage (P&I): −$1,754
• Tax est. 1.5%: −$418 /mo · $5,017/yr
• Insurance: −$139
• HOA: −$100
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $-609

Break-even live

Break-even rent $3,053

Max offer price $246,378

Occupancy floor —

Sensitivity live

Price	-10% $-378	-5% $-493	+0% $-609	+5% $-725	+10% $-840
Rent	-10% $-789	-5% $-699	+0% $-609	+5% $-519	+10% $-429
Rate	-1.0pp $-440	-0.5pp $-524	base $-609	+0.5pp $-696	+1.0pp $-784

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: $83,622
• Closing costs: $10,035
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Property features AI

Finance

• Other: Municipal Utility District disclosure
• HOA & community: Sunterra Property Owners associationAnnual association fee of $1,200

Exterior

• Parking: Attached garage (2 spaces)
• Security: PrewiredSmoke detectors
• Utilities: Public waterPublic sewer
• Home design: Residential propertyNew constructionFaces north
• Construction: Built in 2026Brick, cement siding, and stone exteriorComposition roofSlab foundationBuilder: D.R. Horton
• Exterior features: Fence (back yard)Sprinkler/irrigationPrivate yardCorner lotSubdivisionCommunity pool

Interior

• Kitchen: DishwasherDisposalGas ovenGas rangeMicrowaveQuartz countersKitchen islandPantryBreakfast bar
• Bedrooms: Primary bedroom (first floor) — 14 x 10Bedroom (first floor) — 11 x 10Bedroom (first floor) — 11 x 10Bedroom (first floor) — 10 x 10
• Flooring: CarpetPlankVinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas)Central air (electric)Programmable thermostat
• Interior features: Breakfast barHigh ceilingsKitchen islandKitchen/family room comboPantryQuartz countersCeiling fansKitchen/dining comboLiving/dining roomProgrammable thermostatLow emissivity windowsVentilation
• Laundry & utility: Washer hookupElectric dryer hookupTankless water heater

Listing history 50 events

1. 2026-08-08
   days on market $259,990 Active 47 DOM
2. 2026-08-06
   days on market $259,990 Active 45 DOM
3. 2026-08-05
   days on market $259,990 Active 44 DOM
4. 2026-08-04
   days on market $259,990 Active 43 DOM
5. 2026-08-03
   days on market $259,990 Active 42 DOM
6. 2026-07-31
   days on market $259,990 Active 39 DOM
7. 2026-07-30
   days on market $259,990 Active 37 DOM
8. 2026-07-28
   days on market $259,990 Active 36 DOM
9. 2026-07-26
   days on market $259,990 Active 34 DOM
10. 2026-07-24
    days on market $259,990 Active 32 DOM
11. 2026-07-23
    price $259,990 Active 31 DOM
12. 2026-07-23
    pricedays on market $264,990 Active 31 DOM
13. 2026-07-22
    days on market $279,990 Active 30 DOM
14. 2026-07-21
    days on market $279,990 Active 29 DOM
15. 2026-07-20
    days on market $279,990 Active 28 DOM
16. 2026-07-18
    days on market $279,990 Active 26 DOM
17. 2026-07-18
    days on market $279,990 Active 25 DOM
18. 2026-07-16
    days on market $279,990 Active 24 DOM
19. 2026-07-15
    days on market $279,990 Active 23 DOM
20. 2026-07-14
    days on market $279,990 Active 22 DOM
21. 2026-07-13
    days on market $279,990 Active 21 DOM

    Show marketing remark (1269 chars)

    The Baylor floor plan offers a functional and inviting layout with 1,476 square feet of thoughtfully designed living space. Featuring 4 bedrooms, 2 bathrooms, and a 2-car garage, this single-story home combines comfort and efficiency to suit a variety of lifestyles. The open-concept design connects the kitchen, dining, and family areas, creating a spacious and welcoming environment perfect for entertaining or everyday living. The modern kitchen includes ample cabinetry, countertop space, and a central island, making meal prep and gatherings effortless. Large windows throughout the main living area bring in natural light, enhancing the home's bright and airy feel. The private owner's suite, located at the back of the home, offers a relaxing retreat complete with a large walk-in closet and ensuite bath. Three additional bedrooms are positioned toward the front, ideal for children, guests, or a home office. A conveniently located laundry room and ample storage add everyday functionality. Designed for modern living, the Baylor floor plan balances open gathering spaces with private bedrooms, delivering the perfect blend of comfort, versatility, and style- all within a smart, efficient footprint that makes this home both practical and beautifully livable.

22. 2026-07-13
    days on market $279,990 Active 20 DOM

    Show marketing remark (1269 chars)

    The Baylor floor plan offers a functional and inviting layout with 1,476 square feet of thoughtfully designed living space. Featuring 4 bedrooms, 2 bathrooms, and a 2-car garage, this single-story home combines comfort and efficiency to suit a variety of lifestyles. The open-concept design connects the kitchen, dining, and family areas, creating a spacious and welcoming environment perfect for entertaining or everyday living. The modern kitchen includes ample cabinetry, countertop space, and a central island, making meal prep and gatherings effortless. Large windows throughout the main living area bring in natural light, enhancing the home's bright and airy feel. The private owner's suite, located at the back of the home, offers a relaxing retreat complete with a large walk-in closet and ensuite bath. Three additional bedrooms are positioned toward the front, ideal for children, guests, or a home office. A conveniently located laundry room and ample storage add everyday functionality. Designed for modern living, the Baylor floor plan balances open gathering spaces with private bedrooms, delivering the perfect blend of comfort, versatility, and style- all within a smart, efficient footprint that makes this home both practical and beautifully livable.

23. 2026-07-11
    days on market $279,990 Active 19 DOM
24. 2026-07-10
    days on market $279,990 Active 18 DOM
25. 2026-07-09
    days on market $279,990 Active 17 DOM
26. 2026-07-07
    days on market $279,990 Active 15 DOM
27. 2026-07-06
    days on market $279,990 Active 14 DOM
28. 2026-07-06
    days on market $279,990 Active 13 DOM
29. 2026-07-05
    days on market $279,990 Active 12 DOM
30. 2026-07-03
    days on market $279,990 Active 11 DOM
31. 2026-07-02
    days on market $279,990 Active 10 DOM
32. 2026-07-01
    days on market $279,990 Active 9 DOM
33. 2026-06-30
    days on market $279,990 Active 8 DOM
34. 2026-06-29
    days on market $279,990 Active 7 DOM

    Show marketing remark (1269 chars)

    The Baylor floor plan offers a functional and inviting layout with 1,476 square feet of thoughtfully designed living space. Featuring 4 bedrooms, 2 bathrooms, and a 2-car garage, this single-story home combines comfort and efficiency to suit a variety of lifestyles. The open-concept design connects the kitchen, dining, and family areas, creating a spacious and welcoming environment perfect for entertaining or everyday living. The modern kitchen includes ample cabinetry, countertop space, and a central island, making meal prep and gatherings effortless. Large windows throughout the main living area bring in natural light, enhancing the home's bright and airy feel. The private owner's suite, located at the back of the home, offers a relaxing retreat complete with a large walk-in closet and ensuite bath. Three additional bedrooms are positioned toward the front, ideal for children, guests, or a home office. A conveniently located laundry room and ample storage add everyday functionality. Designed for modern living, the Baylor floor plan balances open gathering spaces with private bedrooms, delivering the perfect blend of comfort, versatility, and style- all within a smart, efficient footprint that makes this home both practical and beautifully livable.

35. 2026-06-28
    days on market $279,990 Active 6 DOM
36. 2026-06-27
    days on market $279,990 Active 5 DOM
37. 2026-06-26
    days on market $279,990 Active 4 DOM
38. 2026-06-24
    days on market $279,990 Active 2 DOM
39. 2026-06-22
    pricedays on marketlisting id $279,990 Active 1 DOM
40. 2026-06-21
    days on market $282,990 Active 45 DOM
41. 2026-06-18
    days on market $282,990 Active 42 DOM
42. 2026-06-17
    days on market $282,990 Active 41 DOM
43. 2026-06-16
    days on market $282,990 Active 40 DOM
44. 2026-06-15
    days on market $282,990 Active 39 DOM
45. 2026-06-13
    days on market $282,990 Active 37 DOM
46. 2026-06-10
    days on market $282,990 Active 33 DOM
47. 2026-06-08
    days on market $282,990 Active 32 DOM
48. 2026-06-07
    days on market $282,990 Active 31 DOM
49. 2026-06-04
    days on market $282,990 Active 28 DOM
50. 2026-06-03
    days on market $282,990 Active 27 DOM

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

Taxation est. · year 1

• Rental income: $27,382
• − Mortgage interest: −$18,737
• − Property taxes: −$5,017
• − Insurance: −$1,672
• − Repairs & maintenance: −$2,191
• − Management: −$2,191
• − HOA: −$1,200
• − Depreciation: −$9,731
• Taxable loss: −$13,356
• Est. tax savings @ 24.0%: +$3,205
• After-tax cash flow: $-4,102/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 · 27 photos

Good 80/100 Cosmetic rehab Est. rehab $7,380–$22,140 screening

This single-story home offers a functional and inviting layout with 4 bedrooms and 2 bathrooms. The modern kitchen and well-maintained exterior make it move-in ready.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal and home value. ↑
• Rental Clean gutters — Clean gutters improve drainage and prevent water damage, which is important for renters. ↑

ⓘ 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.

F Composite school gradezoned avg 22/100

Zoned Schools

Elementary Royal El F TX #3,247/4,322 Nat'l #31,549/41,679 Middle Royal J H F TX #1,341/1,662 Nat'l #11,105/14,009 High Royal H S F TX #1,377/1,632 Nat'l #13,899/17,239

Schools (NCES district)

• District: Royal ISD
• NCES district ID: 4838190
• Math proficiency: 23% ▼ -11.00%
• Reading proficiency: 23% ▼ -6.00%
• Median HH income: $41,059
• Composite: 19.55/100
• National rank: #8760
• State rank: #744 of 826 in TX

C Composite livability gradescore 69/100

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 · 60,772 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: 10% of renters

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Population outlook (Waller County) Hauer SSP2

• Today (2025): 60,772 people
• By 2030: 67,616 · +11.3%
• By 2040: 82,283 · +35.4%
• By 2050: 98,276 · +61.7%
• By 2075: 142,860 · +135.1%
• By 2100: 175,596 · +188.9%

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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%

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Political lean MEDSL · Waller

• 2024 margin: Strong R (+25.0) · D 37.0% · R 62.0% · Other 1.0%
• 2008→2024 swing: -17.9pp toward R · 2008: -7.2pp · 2024: -25.0pp
• All cycles: 2024: R+25.0 2020: R+26.7 2016: R+28.6 2012: R+17.6 2008: R+7.2

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

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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: Municipal Utility District disclosure
• HOA & community: Sunterra Property Owners associationAnnual association fee of $1,200

Exterior

• Parking: Attached garage (2 spaces)
• Security: PrewiredSmoke detectors
• Utilities: Public waterPublic sewer
• Home design: Residential propertyNew constructionFaces north
• Construction: Built in 2026Brick, cement siding, and stone exteriorComposition roofSlab foundationBuilder: D.R. Horton
• Exterior features: Fence (back yard)Sprinkler/irrigationPrivate yardCorner lotSubdivisionCommunity pool

Interior

• Kitchen: DishwasherDisposalGas ovenGas rangeMicrowaveQuartz countersKitchen islandPantryBreakfast bar
• Bedrooms: Primary bedroom (first floor) — 14 x 10Bedroom (first floor) — 11 x 10Bedroom (first floor) — 11 x 10Bedroom (first floor) — 10 x 10
• Flooring: CarpetPlankVinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas)Central air (electric)Programmable thermostat
• Interior features: Breakfast barHigh ceilingsKitchen islandKitchen/family room comboPantryQuartz countersCeiling fansKitchen/dining comboLiving/dining roomProgrammable thermostatLow emissivity windowsVentilation
• Laundry & utility: Washer hookupElectric dryer hookupTankless water heater

Price history

-4.6% since first listed

5 events — show timeline

• 2026-07-13 Price Changed $269,990 Zillow
• 2026-06-29 Price Changed $272,990 Zillow
• 2026-06-22 Price Changed $279,990 HARMLS
• 2026-06-22 Listed $282,990 HARMLS
• 2026-05-07 Listed $282,990 Zillow