16942 Balmoral · Conroe, TX 77316

$180,000

3 bd · 2.0 ba · 1,144 sqft · Land · 28 Days on market

Built 2025 2,265 sqft lot $32/mo HOA · 2% of rent ↓ 8% 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 +19.8/30.0
• ARV discount +7.5/15.0
• DSCR +6.3/10.0
• Schools +5.4/10.0
• 1% rule +4.2/10.0
• Livability +3.7/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

You’ve got to ask yourself one question: 'Do I feel lucky?'" With the Eastwood Plus by ICONIQ Homes, the answer is a resounding yes! This beautifully designed 3 bedroom, 2 bathroom home offers the perfect balance of style, functionality, and affordability. Don't miss the primary suite with a spa-like primary bathroom, and spacious walk-in closet. Experience open-concept living with high ceilings, an open floorplan, and modern high-end finishes that speak louder than words, this home doesn’t just make a statement — it stares you down and dares you to dream bigger. So go on... do you feel lucky? Located in Lake Conroe Village in the heart of Montgomery just minutes away from Lake Conroe, don't wait as this one won't last! This is your chance to make your home ICONIQ!

Key facts

• 2,265 sq ft lot
• Parking
• Built 2025

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $180k.

Deal economics

• At list price, monthly cash flow is $216 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $166k (7.8% below list).
• Recommended offer: $166k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 7.7% 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: Stewart Creek El (math 49% / reading 58%, grade C, #686 of 4,322 statewide, top 16%, 738 students, 46% FRL); Montgomery J H (math 68% / reading 54%, grade B+, #145 of 1,662 statewide, top 9%, 1,045 students, 30% FRL); Lake Creek H S (math 53% / reading 68%, grade C+, #268 of 1,632 statewide, top 17%, 1,649 students, 23% FRL).
• Market conditions: Rents flat; 2300 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 57% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 13,259 units permitted in Montgomery County in 2024 (1,402 in 5+ unit buildings).
• This rent is only 16% of the median local income ($124k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 28 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• 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 $165,875 (7.8% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.92% ✗
• Cap rate: 7.73%
• Cash-on-cash: 5.13%
• DSCR: 1.23
• GRM: 9.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.4% rent growth · sell at horizon

5-year hold

• IRR: -11.0%
• Equity multiple: 0.61×
• Total profit: $-19,736
• Equity at exit: $26,839

10-year hold

• IRR: -5.6%
• Equity multiple: 0.68×
• Total profit: $-16,254
• Equity at exit: $15,563

Cash invested: $50,400 (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 77316

• Home prices YoY: -10.7%
• Rents YoY: 0.4%
• Active inventory: 2300
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,659 high
• Mortgage (P&I): −$944
• Tax from tax record: −$44 /mo · $527/yr
• Insurance: −$75
• HOA: −$32
• Vacancy / Maint / Mgmt: −$348
• Net cashflow: $216

Break-even live

Break-even rent $1,386

Max offer price $180,000

Occupancy floor 82%

Sensitivity live

Price	-10% $317	-5% $266	+0% $216	+5% $165	+10% $114
Rent	-10% $85	-5% $150	+0% $216	+5% $281	+10% $347
Rate	-1.0pp $306	-0.5pp $261	base $216	+0.5pp $169	+1.0pp $121

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16915 Balmoral Montgomery, TX	3.0	2.0	1200	$1,200	$1.00	45d	1	0.05mi
16967 W Ivanhoe Montgomery, TX	3.0	2.0	1012	$1,350	$1.33	14d	1	0.22mi
16928 Kempwood Montgomery, TX	3.0	2.0	1100	$1,450	$1.32	45d	1	0.27mi
1050 S Pine Lake Rd Montgomery, TX	2.0	2.0	1052	$1,845	$1.75	26d	1	0.46mi
15 April Vlg Montgomery, TX	2.0	2.0	1218	$1,650	$1.35	45d	1	0.76mi
298 Capetown Way Unit A Montgomery, TX	2.0	1.5	1100	$1,400	$1.27	45d	1	0.80mi
124 April Point Dr S #124 Montgomery, TX	2.0	1.0	1300	$1,490	$1.15	22d	1	1.14mi

HOA detail

• Monthly dues: $32 · $384/yr

Listing history 23 events

1. 2026-06-21
   days on market $180,000 Active 28 DOM
2. 2026-06-18
   days on market $180,000 Active 25 DOM
3. 2026-06-17
   days on market $180,000 Active 24 DOM
4. 2026-06-16
   days on market $180,000 Active 23 DOM
5. 2026-06-15
   days on market $180,000 Active 22 DOM
6. 2026-06-13
   days on market $180,000 Active 20 DOM
7. 2026-06-13
   days on market $180,000 Active 19 DOM
8. 2026-06-09
   days on market $180,000 Active 16 DOM
9. 2026-06-08
   days on market $180,000 Active 15 DOM
10. 2026-06-07
    days on market $180,000 Active 14 DOM
11. 2026-06-04
    days on market $180,000 Active 11 DOM
12. 2026-06-03
    days on market $180,000 Active 10 DOM
13. 2026-06-02
    days on market $180,000 Active 9 DOM
14. 2026-06-01
    days on market $180,000 Active 8 DOM
15. 2026-05-31
    days on market $180,000 Active 7 DOM
16. 2026-05-24
    historical $180,000
17. 2025-10-31
    soldstatus Closed 801-char remark

    Show marketing remark (801 chars)

    You’ve got to ask yourself one question: 'Do I feel lucky?'" With the Eastwood Plus by ICONIQ Homes, the answer is a resounding yes! This beautifully designed 3 bedroom, 2 bathroom home offers the perfect balance of style, functionality, and affordability. Don't miss the primary suite with a spa-like primary bathroom, and spacious walk-in closet. Experience open-concept living with high ceilings, an open floorplan, and modern high-end finishes that speak louder than words, this home doesn’t just make a statement — it stares you down and dares you to dream bigger. So go on... do you feel lucky? Located in Lake Conroe Village in the heart of Montgomery just minutes away from Lake Conroe, don't wait as this one won't last! This is your chance to make your home ICONIQ!

18. 2025-10-20
    status Pending 801-char remark

    Show marketing remark (801 chars)

    You’ve got to ask yourself one question: 'Do I feel lucky?'" With the Eastwood Plus by ICONIQ Homes, the answer is a resounding yes! This beautifully designed 3 bedroom, 2 bathroom home offers the perfect balance of style, functionality, and affordability. Don't miss the primary suite with a spa-like primary bathroom, and spacious walk-in closet. Experience open-concept living with high ceilings, an open floorplan, and modern high-end finishes that speak louder than words, this home doesn’t just make a statement — it stares you down and dares you to dream bigger. So go on... do you feel lucky? Located in Lake Conroe Village in the heart of Montgomery just minutes away from Lake Conroe, don't wait as this one won't last! This is your chance to make your home ICONIQ!

19. 2025-10-05
    price $191,900 801-char remark

    Show marketing remark (801 chars)

    You’ve got to ask yourself one question: 'Do I feel lucky?'" With the Eastwood Plus by ICONIQ Homes, the answer is a resounding yes! This beautifully designed 3 bedroom, 2 bathroom home offers the perfect balance of style, functionality, and affordability. Don't miss the primary suite with a spa-like primary bathroom, and spacious walk-in closet. Experience open-concept living with high ceilings, an open floorplan, and modern high-end finishes that speak louder than words, this home doesn’t just make a statement — it stares you down and dares you to dream bigger. So go on... do you feel lucky? Located in Lake Conroe Village in the heart of Montgomery just minutes away from Lake Conroe, don't wait as this one won't last! This is your chance to make your home ICONIQ!

20. 2025-09-27
    price $192,900 801-char remark

    Show marketing remark (801 chars)

    You’ve got to ask yourself one question: 'Do I feel lucky?'" With the Eastwood Plus by ICONIQ Homes, the answer is a resounding yes! This beautifully designed 3 bedroom, 2 bathroom home offers the perfect balance of style, functionality, and affordability. Don't miss the primary suite with a spa-like primary bathroom, and spacious walk-in closet. Experience open-concept living with high ceilings, an open floorplan, and modern high-end finishes that speak louder than words, this home doesn’t just make a statement — it stares you down and dares you to dream bigger. So go on... do you feel lucky? Located in Lake Conroe Village in the heart of Montgomery just minutes away from Lake Conroe, don't wait as this one won't last! This is your chance to make your home ICONIQ!

21. 2025-09-10
    listed $194,900 Active 801-char remark

    Show marketing remark (801 chars)

    You’ve got to ask yourself one question: 'Do I feel lucky?'" With the Eastwood Plus by ICONIQ Homes, the answer is a resounding yes! This beautifully designed 3 bedroom, 2 bathroom home offers the perfect balance of style, functionality, and affordability. Don't miss the primary suite with a spa-like primary bathroom, and spacious walk-in closet. Experience open-concept living with high ceilings, an open floorplan, and modern high-end finishes that speak louder than words, this home doesn’t just make a statement — it stares you down and dares you to dream bigger. So go on... do you feel lucky? Located in Lake Conroe Village in the heart of Montgomery just minutes away from Lake Conroe, don't wait as this one won't last! This is your chance to make your home ICONIQ!

22. 2025-03-24
    soldstatus
23. 1988-08-01
    soldstatus

ⓘ 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: $527 · $44/mo
• Projected year-2 tax: $3,294 · $274/mo
• Expected delta: +$2,767/yr (+$231/mo · 524.9%)

ⓘ 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 3/10 Moderate
• 🌡 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: $19,905
• − Mortgage interest: −$10,083
• − Property taxes: −$527
• − Insurance: −$900
• − Repairs & maintenance: −$1,592
• − Management: −$1,592
• − HOA: −$384
• − Depreciation: −$5,236
• Taxable loss: −$410
• Est. tax savings @ 24.0%: +$98
• After-tax cash flow: $2,685/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: 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): 34,694
• Household income: $124,055
• Rent vs Own: 10.9% rent · 89.1% own
• Severe rent burden: 273.0

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 (80%)
• Race & ethnicity: White 80% Hispanic / Latino 14% Two or more races 11% Black 1% Asian 1%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Lithuanian 6% Slovak 3% Romanian 3%
• Foreign-born: 6% · Canada
• Languages at home: 90% English-only · Spanish 8%

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: ▼ -31.44%
• Current HPI: 262.6973
• Rent YoY: ▲ 0.40%
• 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

-7.6% since first listed

8 events — show timeline

• 2026-05-24 Coming Soon $180,000 HARMLS
• 2025-10-31 Sold (MLS) — HARMLS
• 2025-10-20 Pending — HARMLS
• 2025-10-05 Price Changed $191,900 HARMLS
• 2025-09-27 Price Changed $192,900 HARMLS
• 2025-09-10 Listed $194,900 HARMLS
• 2025-03-24 Sold (Public Records) — Public Records
• 1988-08-01 Sold (Public Records) — Public Records

Property tax history

+9.5%/yr

Latest (2025): $527 · +19.7% YoY. Source: county tax records.