209 Palm Aire Dr · Friendswood, TX 77546

$309,900

3 bd · 2.0 ba · 1,736 sqft · SingleFamily public records · 5 Days on market

Built 1979 0.25 ac lot $179/sqft · 6% above area Est $293k · 6% over $8/mo HOA

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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 +11.8/30.0
• Schools +6.1/10.0
• ARV discount +4.9/15.0
• 1% rule +3.7/10.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Updated 1.5-story home nestled amongst mature trees on a spacious 0.25-acre lot with no back neighbors! Step inside to a warm and inviting living room featuring a cozy fireplace, perfect for relaxing evenings at home. The home offers a beautiful neutral color palette throughout, creating a bright, timeless feel ready for any décor style. The chef’s eat-in kitchen is sure to impress with an apron-front sink, stainless steel appliances, lengthy countertops, subway tile backsplash, and abundant prep space. The private first-floor primary suite offers a peaceful retreat with an en-suite bath, while upstairs you’ll find two secondary bedrooms and a full bath. Enjoy entertainin

Key facts

• Spacious lot
• Lengthy countertops
• Cozy fireplace

Tags

• SPACIOUS LOT
• NO BACK NEIGHBORS
• COZY FIREPLACE
• APRON-FRONT SINK
• STAINLESS STEEL APPLIANCES
• LENGTHY COUNTERTOPS

Property features AI

Finance

• HOA & community: Annual association fee of $100 (Beacon Residential Management); Community curbs

Exterior

• Parking: Attached 2-car garage; Driveway parking
• Security: Owned security system; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; Full ownership; Slab foundation; Year built 1979; Composition roof; Located in a subdivision; Concrete road surface
• Construction: Brick and wood siding construction
• Exterior features: Deck; Patio; Fence around backyard; Shed(s) for storage

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Garbage disposal; Microwave
• Bedrooms: Primary bedroom on the first floor; Two additional bedrooms on the second floor
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Central heating (gas); Central air conditioning (electric)
• Interior features: Butcher block counters; Crown molding; High ceilings; Pantry; Tub with shower; Window treatments; Ceiling fans; Combined living and dining area; Gas log fireplace (one)
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer and dryer listed among appliances

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $310k.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $295k (4.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (12.7% below list).
• Recommended offer: $270k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 2.4% in Friendswood — 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 70/100 on livability (#338 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Friendswood ISD (suburban): math 64% / reading 65% proficiency, ranked #15 of 826 in TX (top 2%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 8% free/reduced lunch — higher-income household profile.
• Zoned schools: C W Cline El (math 62% / reading 67%, grade B, #257 of 4,322 statewide, top 6%, 801 students, 8% FRL); Friendswood J H (math 62% / reading 59%, grade B+, #154 of 1,662 statewide, top 9%, 1,467 students, 0% FRL); Friendswood H S (math 61% / reading 76%, grade B, #144 of 1,632 statewide, top 9%, 1,980 students, 0% FRL).
• Market conditions: Rents rising (+2.7%/yr); 512 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 3,258 units permitted in Galveston County in 2024 (0 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.
• Galveston County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 19y 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $270,423 (12.7% 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. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.87% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.18%
• DSCR: 0.95
• GRM: 9.5

CMA / ARV

• ARV (median comp): $293,146
• List price: $309,900
• Delta: 8.82%
• 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
406 W W Castle Harbour Dr	0.05mi	3/2.0	1,756 (+1%)	12mo	$305,000	$174	86
402 W Castle Harbour Dr	0.05mi	4/2.0 (+1)	1,804 (+4%)	2mo	$350,000	$194	84
408 Broadmoor St	0.12mi	3/2.0	1,884 (+8%)	4mo	$329,900	$175	77
528 Belmont Dr	0.31mi	3/2.0	1,608 (-7%)	0mo	$325,000	$202	73
235 E Castle Harbour Dr	0.36mi	3/2.0	1,712 (-1%)	10mo	$305,000	$178	73
602 W Castle Harbour Dr	0.34mi	3/2.0	1,608 (-7%)	3mo	$310,000	$193	70
621 W Castle Harbour Dr	0.39mi	3/2.0	1,608 (-7%)	1mo	$349,900	$218	69
527 Gleneagles Dr	0.37mi	3/2.0	1,682 (-3%)	13mo	$275,000	$163	67
644 E Castle Harbour Dr	0.52mi	3/2.0	1,692 (-2%)	6mo	$260,000	$154	66
534 W Castle Harbour Dr	0.26mi	3/2.0	1,608 (-7%)	15mo	$286,500	$178	64
501 Point Clear Dr	0.21mi	4/2.0 (+1)	1,872 (+8%)	12mo	$289,000	$154	62
216 E Castle Harbour Dr	0.34mi	3/2.0	1,892 (+9%)	15mo	$215,000	$114	57

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 · 2.74% rent growth · sell at horizon

5-year hold

• IRR: -18.5%
• Equity multiple: 0.35×
• Total profit: $-56,245
• Equity at exit: $46,207

10-year hold

• IRR: -11.4%
• Equity multiple: 0.33×
• Total profit: $-58,461
• Equity at exit: $26,794

Cash invested: $86,772 (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 77546

• Rents YoY: 2.7%
• Active inventory: 512
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,704 medium
• Mortgage (P&I): −$1,625
• Tax from tax record: −$459 /mo · $5,508/yr
• Insurance: −$129
• HOA: −$8
• Vacancy / Maint / Mgmt: −$568
• Net cashflow: $-85

Break-even live

Break-even rent $2,812

Max offer price $294,890

Occupancy floor 98%

Sensitivity live

Price	-10% $90	-5% $3	+0% $-85	+5% $-173	+10% $-260
Rent	-10% $-299	-5% $-192	+0% $-85	+5% $22	+10% $129
Rate	-1.0pp $71	-0.5pp $-6	base $-85	+0.5pp $-165	+1.0pp $-247

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: $77,475
• Closing costs: $9,297
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
206 Saint Cloud Dr Unit 1472546P Friendswood, TX	3.0	2.0	2045	$4,656	$2.28	0d	1	0.37mi

HOA detail

• Monthly dues: $8 · $96/yr

Listing history 34 events

1. 2026-06-21
   days on market $309,900 Active 5 DOM
2. 2026-06-18
   days on market $309,900 Active 2 DOM
3. 2026-06-17
   pricedays on marketlisting id $309,900 Active 1 DOM
4. 2026-06-16
   days on market $319,000 Active 29 DOM
5. 2026-06-15
   remarks 680-char remark
6. 2026-06-15
   days on market $319,000 Active 28 DOM
7. 2026-06-13
   statusdays on market $319,000 Active 26 DOM
8. 2026-06-09
   days on market $319,000 Pending 22 DOM
9. 2026-06-08
   days on market $319,000 Pending 21 DOM
10. 2026-06-07
    statusdays on market $319,000 Pending 20 DOM
11. 2026-06-04
    days on market $319,000 Active 17 DOM
12. 2026-06-03
    days on market $319,000 Active 16 DOM
13. 2026-06-02
    days on market $319,000 Active 15 DOM
14. 2026-06-01
    days on market $319,000 Active 14 DOM
15. 2026-05-31
    days on market $319,000 Active 13 DOM
16. 2026-05-13
    historical $319,000
17. 2019-09-09
    soldstatus
18. 2019-09-06
    soldstatus Sold
19. 2019-08-17
    status Pending
20. 2019-08-08
    price $208,000
21. 2019-07-25
    price $212,000
22. 2019-07-01
    listed $215,000 Active
23. 2019-06-24
    soldstatus
24. 2015-01-30
    soldstatus
25. 2015-01-29
    soldstatus
26. 2015-01-02
    historical
27. 2014-12-23
    listed $159,900
28. 2012-12-04
    soldstatus
29. 2012-11-30
    soldstatus
30. 2012-10-24
    historical
31. 2012-09-04
    listed $126,000
32. 2007-12-11
    soldstatus
33. 2007-10-26
    historical
34. 2007-04-26
    listed $136,900

ⓘ 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: $5,508 · $459/mo
• Projected year-2 tax: $5,671 · $473/mo
• Expected delta: +$163/yr (+$14/mo · 3.0%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 26% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥107°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: $32,451
• − Mortgage interest: −$17,359
• − Property taxes: −$5,508
• − Insurance: −$1,550
• − Repairs & maintenance: −$2,596
• − Management: −$2,596
• − HOA: −$96
• − Depreciation: −$9,015
• Taxable loss: −$6,270
• Est. tax savings @ 24.0%: +$1,505
• After-tax cash flow: $485/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: Friendswood ISD
• NCES district ID: 4819950
• Math proficiency: 64% ▼ -12.00%
• Reading proficiency: 65% ▼ -6.00%
• Median HH income: $109,699
• Composite: 60.52/100
• National rank: #841
• State rank: #15 of 826 in TX

Livability — Friendswood

• Score: 70/100
• State rank: #338
• US rank: #7362

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Friendswood, TX
• County: Galveston County · 357,330 people
• City population: 54,789
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 54,789
• Household income: $123,756
• Rent vs Own: 24.0% rent · 76.0% own
• Severe rent burden: 1350.0

Population outlook (Galveston County) Hauer SSP2

• Today (2025): 390,640 people
• By 2030: 425,226 · +8.9%
• By 2040: 493,765 · +26.4%
• By 2050: 559,698 · +43.3%
• By 2075: 719,260 · +84.1%
• By 2100: 819,628 · +109.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 17% Two or more races 11% Asian 7% Black 4%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Lithuanian 3% Italian 3% Romanian 2%
• Foreign-born: 10% · Canada, Vietnam, China
• Languages at home: 84% English-only · Spanish 7% Other Indo-European 3% Vietnamese 2%

Political lean MEDSL · Galveston

• 2024 margin: Strong R (+27.4) · D 35.7% · R 63.1% · Other 1.2%
• 2008→2024 swing: -7.9pp toward R · 2008: -19.5pp · 2024: -27.4pp
• All cycles: 2024: R+27.4 2020: R+22.6 2016: R+22.6 2012: R+26.9 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -160.03%
• Current HPI: 243.7934
• Rent YoY: ▲ 2.74%
• 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

+126.4% since first listed

24 events — show timeline

• 2026-06-16 Listed $309,900 HARMLS
• 2026-06-16 Listing Removed — HARMLS
• 2026-06-13 Relisted — HARMLS
• 2026-06-05 Pending — HARMLS
• 2026-05-19 Listed $319,000 HARMLS
• 2026-05-13 Coming Soon — HARMLS
• 2019-09-09 Sold (Public Records) — Public Records
• 2019-09-06 Sold (MLS) — HARMLS
• 2019-08-17 Pending — HARMLS
• 2019-08-08 Price Changed $208,000 HARMLS
• 2019-07-25 Price Changed $212,000 HARMLS
• 2019-07-01 Listed $215,000 HARMLS
• 2019-06-24 Sold (Public Records) — Public Records
• 2015-01-30 Sold (Public Records) — Public Records
• 2015-01-29 Sold (MLS) — HARMLS
• 2015-01-02 Listing Removed — HARMLS
• 2014-12-23 Listed $159,900 HARMLS
• 2012-12-04 Sold (Public Records) — Public Records
• 2012-11-30 Sold (MLS) — HARMLS
• 2012-10-24 Listing Removed — HARMLS
• 2012-09-04 Listed $126,000 HARMLS
• 2007-12-11 Sold (Public Records) — Public Records
• 2007-10-26 Listing Removed — HARMLS
• 2007-04-26 Listed $136,900 HARMLS

Property tax history

+5.4%/yr

Latest (2025): $5,508 · +5.9% YoY. Source: county tax records.