500 Fairway Village Dr Unit 8M · Conroe, TX 29577

$109,500

1 bd · 1.0 ba · 618 sqft · Condo · 102 Days on market

Built 1986 Good condition $336/mo HOA · 26% of rent

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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 +9.9/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• Schools +5.1/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• DSCR +2.8/10.0
• Rent growth +2.6/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Modern Elegance at Island Green: Fully Renovated & Turnkey. Welcome to 500 Fairway Village Dr, Unit 8M, a meticulously renovated coastal sanctuary that feels like a brand-new home. Used exclusively as a private second home, this unit has been transformed with high-end finishes and unique structural upgrades that set it apart from anything else in the Fairway Village community. Step inside to a bright, modern aesthetic where every detail has been addressed: Brand-new LVP flooring flows throughout the space, complemented by a fresh, contemporary paint palette and all-new, stylish light fixtures. Completely reimagined with stunning new granite countertops and a full suite of new stainless-steel appliances. Forget the standard popcorn texture, every ceiling in the home has been professionally redone for a clean, modern look. A refreshed and updated bathroom offers a spa-like feel. Unit 8M offers features you won't find in standard Island Green layouts: The bedroom ceiling was intelligently converted to a drop-down design to accommodate new attic stairs, providing rare and valuable attic storage space. New, high-quality sliding glass doors lead out to the porch, improving insulation and ease of use. Enjoy the coastal breeze on your large screened-in porch. This expansive outdoor living area serves as a private oasis for morning coffee or evening cocktails, overlooking the tranquil, gated grounds of the Island Green community. With its rare attic storage, high-end renovations, and the pristine feel of a private second home, this turnkey gem is a must-see that won't stay on the market for long.

Key facts

• Fully renovated
• $336 HOA
• Community pool

Tags

• FULLY RENOVATED
• UNIQUE STRUCTURAL UPGRADES
• BRAND NEW LVP FLOORING
• PROFESSIONALLY REDONE CEILINGS
• REFRESHED UPDATED BATHROOM
• DROP DOWN CEILING DESIGN

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-68 ($-813/yr) — negative.
• To cash-flow at today's rent, offer at most $100k (9.0% below list).
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $100k (9.0% below list) — sets the bar for market timing.
• Cap rate 5.6% 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: schools D+, commute F, health & safety F.
• 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.
• Market conditions: Rents flat; 1 active listings in the ZIP; 13,259 units permitted in Montgomery County in 2024 (1,402 in 5+ unit buildings).
• This rent runs 31% of the median local income ($51k/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 $757 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 102 days — a 9% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $84k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

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 $99,645 (9.0% 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 102 days. Have you received any prior offers? Is the seller open to a 9% 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 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?
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: 1.18% ✓
• Cap rate: 5.55%
• Cash-on-cash: -2.65%
• DSCR: 0.88
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.49% rent growth · sell at horizon

5-year hold

• IRR: -24.7%
• Equity multiple: 0.18×
• Total profit: $-25,030
• Equity at exit: $16,327

10-year hold

• IRR: -37.0%
• Equity multiple: -0.27×
• Total profit: $-38,908
• Equity at exit: $9,468

Cash invested: $30,660 (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 29577

• Rents YoY: 0.5%
• Active inventory: 1
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,297 medium
• Mortgage (P&I): −$574
• Tax est. 1.5%: −$137 /mo · $1,642/yr
• Insurance: −$46
• HOA: −$336
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $-68

Break-even live

Break-even rent $1,383

Max offer price $99,695

Occupancy floor —

Sensitivity live

Price	-10% $8	-5% $-30	+0% $-68	+5% $-106	+10% $-143
Rent	-10% $-170	-5% $-119	+0% $-68	+5% $-17	+10% $35
Rate	-1.0pp $-13	-0.5pp $-40	base $-68	+0.5pp $-96	+1.0pp $-125

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: $27,375
• Closing costs: $3,285
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $336 · $4,032/yr
• Likely covers: landscapingsecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $109,500 Active 102 DOM
2. 2026-06-18
   days on market $109,500 Active 99 DOM
3. 2026-06-17
   days on market $109,500 Active 98 DOM
4. 2026-06-16
   days on market $109,500 Active 97 DOM
5. 2026-06-15
   days on market $109,500 Active 96 DOM
6. 2026-06-13
   days on market $109,500 Active 94 DOM
7. 2026-06-09
   days on market $109,500 Active 90 DOM
8. 2026-06-08
   days on market $109,500 Active 89 DOM
9. 2026-06-07
   days on market $109,500 Active 88 DOM
10. 2026-06-04
    days on market $109,500 Active 85 DOM
11. 2026-06-03
    days on market $109,500 Active 84 DOM
12. 2026-06-02
    days on market $109,500 Active 83 DOM
13. 2026-06-01
    days on market $109,500 Active 82 DOM
14. 2026-05-31
    days on market $109,500 Active 81 DOM
15. 2026-05-15
    price $109,500 1620-char remark

    Show marketing remark (1620 chars)

    Modern Elegance at Island Green: Fully Renovated & Turnkey. Welcome to 500 Fairway Village Dr, Unit 8M, a meticulously renovated coastal sanctuary that feels like a brand-new home. Used exclusively as a private second home, this unit has been transformed with high-end finishes and unique structural upgrades that set it apart from anything else in the Fairway Village community. Step inside to a bright, modern aesthetic where every detail has been addressed: Brand-new LVP flooring flows throughout the space, complemented by a fresh, contemporary paint palette and all-new, stylish light fixtures. Completely reimagined with stunning new granite countertops and a full suite of new stainless-steel appliances. Forget the standard popcorn texture, every ceiling in the home has been professionally redone for a clean, modern look. A refreshed and updated bathroom offers a spa-like feel. Unit 8M offers features you won't find in standard Island Green layouts: The bedroom ceiling was intelligently converted to a drop-down design to accommodate new attic stairs, providing rare and valuable attic storage space. New, high-quality sliding glass doors lead out to the porch, improving insulation and ease of use. Enjoy the coastal breeze on your large screened-in porch. This expansive outdoor living area serves as a private oasis for morning coffee or evening cocktails, overlooking the tranquil, gated grounds of the Island Green community. With its rare attic storage, high-end renovations, and the pristine feel of a private second home, this turnkey gem is a must-see that won't stay on the market for long.

16. 2026-04-17
    price $114,500 1620-char remark

    Show marketing remark (1620 chars)

    Modern Elegance at Island Green: Fully Renovated & Turnkey. Welcome to 500 Fairway Village Dr, Unit 8M, a meticulously renovated coastal sanctuary that feels like a brand-new home. Used exclusively as a private second home, this unit has been transformed with high-end finishes and unique structural upgrades that set it apart from anything else in the Fairway Village community. Step inside to a bright, modern aesthetic where every detail has been addressed: Brand-new LVP flooring flows throughout the space, complemented by a fresh, contemporary paint palette and all-new, stylish light fixtures. Completely reimagined with stunning new granite countertops and a full suite of new stainless-steel appliances. Forget the standard popcorn texture, every ceiling in the home has been professionally redone for a clean, modern look. A refreshed and updated bathroom offers a spa-like feel. Unit 8M offers features you won't find in standard Island Green layouts: The bedroom ceiling was intelligently converted to a drop-down design to accommodate new attic stairs, providing rare and valuable attic storage space. New, high-quality sliding glass doors lead out to the porch, improving insulation and ease of use. Enjoy the coastal breeze on your large screened-in porch. This expansive outdoor living area serves as a private oasis for morning coffee or evening cocktails, overlooking the tranquil, gated grounds of the Island Green community. With its rare attic storage, high-end renovations, and the pristine feel of a private second home, this turnkey gem is a must-see that won't stay on the market for long.

17. 2026-03-09
    listed $119,500 Active 1620-char remark

    Show marketing remark (1620 chars)

    Modern Elegance at Island Green: Fully Renovated & Turnkey. Welcome to 500 Fairway Village Dr, Unit 8M, a meticulously renovated coastal sanctuary that feels like a brand-new home. Used exclusively as a private second home, this unit has been transformed with high-end finishes and unique structural upgrades that set it apart from anything else in the Fairway Village community. Step inside to a bright, modern aesthetic where every detail has been addressed: Brand-new LVP flooring flows throughout the space, complemented by a fresh, contemporary paint palette and all-new, stylish light fixtures. Completely reimagined with stunning new granite countertops and a full suite of new stainless-steel appliances. Forget the standard popcorn texture, every ceiling in the home has been professionally redone for a clean, modern look. A refreshed and updated bathroom offers a spa-like feel. Unit 8M offers features you won't find in standard Island Green layouts: The bedroom ceiling was intelligently converted to a drop-down design to accommodate new attic stairs, providing rare and valuable attic storage space. New, high-quality sliding glass doors lead out to the porch, improving insulation and ease of use. Enjoy the coastal breeze on your large screened-in porch. This expansive outdoor living area serves as a private oasis for morning coffee or evening cocktails, overlooking the tranquil, gated grounds of the Island Green community. With its rare attic storage, high-end renovations, and the pristine feel of a private second home, this turnkey gem is a must-see that won't stay on the market for long.

18. 2021-10-01
    soldstatus $84,500 Closed 230-char remark

    Show marketing remark (230 chars)

    If you are looking for a great investment opportunity, this is the condo for you. This condo has a updated kitchen and is in great shape. The A/C unit was replaced 5 years ago(will verify). Short and long term rentals are allowed.

19. 2021-08-15
    historical Active Under Contract 230-char remark

    Show marketing remark (230 chars)

    If you are looking for a great investment opportunity, this is the condo for you. This condo has a updated kitchen and is in great shape. The A/C unit was replaced 5 years ago(will verify). Short and long term rentals are allowed.

20. 2021-07-01
    listed $84,500 Active 230-char remark

    Show marketing remark (230 chars)

    If you are looking for a great investment opportunity, this is the condo for you. This condo has a updated kitchen and is in great shape. The A/C unit was replaced 5 years ago(will verify). Short and long term rentals are allowed.

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,569
• − Mortgage interest: −$6,134
• − Property taxes: −$1,642
• − Insurance: −$548
• − Repairs & maintenance: −$1,246
• − Management: −$1,246
• − HOA: −$4,032
• − Depreciation: −$3,185
• Taxable loss: −$2,463
• Est. tax savings @ 24.0%: +$591
• After-tax cash flow: $-222/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 80/100 Cosmetic rehab

This modern, fully-renovated condo is move-in ready with fresh LVP flooring, granite countertops, and contemporary paint. Enhance its curb appeal and value with exterior painting and modern updates.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace ceiling fans with modern models — Modernizes the space and improves airflow
• Both Install smart home devices — Enhances convenience and adds modern amenities

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace ceiling fans with modern models — Modernizes the space and improves airflow ↑
• Both Install smart home devices — Enhances convenience and adds modern amenities ↑

ⓘ 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: 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

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: Horry County
• City population: 205,417
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• Population (ZIP): 35,446
• Household income: $50,955
• Rent vs Own: 40.3% rent · 59.7% own
• Severe rent burden: 2089.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 16% Hispanic / Latino 15% Two or more races 13% Asian 1%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Italian 7% Slovak 2% Serbian 2%
• Foreign-born: 14% · Canada
• Languages at home: 83% English-only · Spanish 11% Other Indo-European 2% Russian/Polish/Slavic 1%

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: ▼ -117.23%
• Current HPI: 203.7999
• Rent YoY: ▲ 0.49%
• Metro: Myrtle Beach-Conway-North Myrtle Beach, SC-NC
• 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

+29.6% since first listed

6 events — show timeline

• 2026-05-15 Price Changed $109,500 CCAR
• 2026-04-17 Price Changed $114,500 CCAR
• 2026-03-09 Listed $119,500 CCAR
• 2021-10-01 Sold (MLS) $84,500 CCAR
• 2021-08-15 Contingent — CCAR
• 2021-07-01 Listed $84,500 CCAR