32942 Silver Meadow Way · Fulshear, TX 77423

$298,000

4 bd · 2.5 ba · 2,448 sqft · SingleFamily public records · 12 Days on market

Built 2022 5,911 sqft lot $122/sqft · 10% below area Est $331k · 10% under $75/mo HOA · 2% of rent

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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 +17.2/30.0
• ARV discount +11.9/15.0
• 1% rule +7.3/10.0
• DSCR +5.4/10.0
• Schools +4.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this beautifully maintained, nearly new home in the Vanbrooke community of Brookshire! This charming 4-bedroom, 2.5-bath residence features a modern design and a functional floor plan. The kitchen offers generous counter space and storage, and flows effortlessly into the dining and family room - ideal for everyday living and entertaining. The spacious primary suite provides a relaxing retreat, complete with a private ensuite featuring a walk-in shower and soaking tub. Upstairs, you'll find three additional bedrooms that offer flexibility for family, guests, a home office and a loft-style game room. Step outside to a fully fenced backyard —a blank canvas ready for your dream

Key facts

• Splash pad
• Resort-style pool
• Open-air pavilion

Tags

• FULLY FENCED BACKYARD
• OPEN-AIR PAVILION
• RESORT-STYLE POOL
• SPLASH PAD
• PLAYGROUND
• WALKING TRAILS

Property features AI

Finance

• HOA & community: Vanbrooke/PMG Houston association; Annual association fee of $900 covering common areas; Community amenities: pool, playground, picnic area, park, curbs

Exterior

• Parking: Attached 2-car garage; Driveway parking
• Security: Prewired for security; Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 2022; Slab foundation; Composition roof; Brick and cement siding construction
• Construction: Anglia Homes builder
• Exterior features: Deck; Patio; Fenced backyard; Subdivision lot; Concrete road access; Association pool

Interior

• Kitchen: Dishwasher; Disposal; Gas oven; Gas range; Microwave; ENERGY STAR qualified appliances
• Bedrooms: Primary bedroom (second level) — 17 x 16; Bedroom (second level) — 12 x 12; Bedroom (second level) — 12 x 12; Bedroom (second level) — 11 x 10
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (gas); Central electric air conditioning; Has heating; Has cooling
• Interior features: Breakfast bar; High ceilings; Kitchen island; Kitchen/family room combo; Laminate counters; Bath in primary bedroom; Soaking tub; Separate shower; Tub/shower combination; Walk-in pantry; Ceiling fans; Programmable thermostat; Low emissivity windows; Gas log fireplace
• Laundry & utility: Washer hookup; Utility room (second level)

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $298k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $298k).
• Cap rate 7.2% vs local median 3.2% in Fulshear — 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 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.
• Lamar CISD (suburban): math 50% / reading 53% proficiency, ranked #116 of 826 in TX (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Dean Leaman J H School (math 59% / reading 56%, grade B, #206 of 1,662 statewide, top 13%, 2,191 students, 32% FRL); Fulshear H S (math 52% / reading 70%, grade C+, #258 of 1,632 statewide, top 16%, 2,464 students, 30% FRL).
• Market conditions: Rents soft (-1.0%/yr); 997 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 12,093 units permitted in Fort Bend County in 2024 (815 in 5+ unit buildings).
• At $3,666/mo this rent would consume 52% of the median local household income ($84k/yr) (locally 20% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

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.
• Fort Bend County population projected at +75% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts 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: property tax is 3.7% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $298,000

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.23% ✓
• Cap rate: 7.15%
• Cash-on-cash: 3.07%
• DSCR: 1.14
• GRM: 6.8

CMA / ARV

• ARV (median comp): $330,547
• List price: $298,000
• Delta: -9.85%
• 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
32903 Silver Meadow Way	0.09mi	4/2.5	2,509 (+2%)	5mo	$310,000	$124	88
32947 Turning Springs Dr	0.10mi	5/3.0 (+1)	2,439 (-0%)	6mo	$344,900	$141	83
32927 Turning Springs Dr	0.09mi	5/3.0 (+1)	2,439 (-0%)	8mo	$339,900	$139	82
32919 Silver Meadow Way	0.06mi	4/2.5	2,260 (-8%)	6mo	$324,900	$144	80
32919 Turning Springs Dr	0.10mi	4/2.5	2,260 (-8%)	4mo	$334,900	$148	79
5210 Wyatt James Ln	0.33mi	4/2.5	2,700 (+10%)	6mo	$350,000	$130	63
32215 Sunbeam Dr	0.74mi	4/3.0	2,417 (-1%)	1mo	$364,990	$151	61
5711 Sunland Trl	0.73mi	4/3.0	2,402 (-2%)	1mo	$391,990	$163	60
32511 Midsummer Dr	0.72mi	4/2.5	2,342 (-4%)	1mo	$350,990	$150	58
32503 Midsummer Dr	0.73mi	4/2.5	2,342 (-4%)	1mo	$324,990	$139	58
32211 Sunbeam Dr	0.74mi	4/3.0	2,246 (-8%)	6mo	$369,990	$165	44
32223 Sunbeam Dr	0.73mi	5/4.0 (+1)	2,697 (+10%)	0mo	$379,990	$141	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: -15.7%
• Equity multiple: 0.46×
• Total profit: $-44,978
• Equity at exit: $44,433

10-year hold

• IRR: -15.8%
• Equity multiple: 0.26×
• Total profit: $-61,373
• Equity at exit: $25,766

Cash invested: $83,440 (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 77423

• Rents YoY: -1.0%
• Active inventory: 997
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $3,666 medium
• Mortgage (P&I): −$1,563
• Tax from tax record: −$920 /mo · $11,045/yr
• Insurance: −$124
• HOA: −$75
• Vacancy / Maint / Mgmt: −$770
• Net cashflow: $214

Break-even live

Break-even rent $3,395

Max offer price $298,000

Occupancy floor 89%

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: $74,500
• Closing costs: $8,940
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33002 Franklin Brooks Dr Pattison, TX	4.0	3.5	3255	$4,385	$1.35	1d	1	0.09mi
5222 Wyatt James Ln Brookshire, TX	4.0	2.5	2487	$3,250	$1.31	12d	1	0.30mi
5462 Grand View Dr Unit 1568482P Pattison, TX	5.0	3.5	2992	$3,637	$1.22	1d	1	0.49mi

HOA detail

• Monthly dues: $75 · $900/yr

Listing history 17 events

1. 2026-06-15
   days on market $298,000 Pending 12 DOM
2. 2026-06-13
   days on market $298,000 Pending 11 DOM
3. 2026-06-09
   days on market $298,000 Pending 7 DOM
4. 2026-06-08
   days on market $298,000 Pending 6 DOM
5. 2026-06-07
   statusdays on market $298,000 Pending 5 DOM
6. 2026-06-04
   days on market $298,000 Active 2 DOM
7. 2026-06-02
   days on marketlisting id $298,000 Active 1 DOM
8. 2026-06-01
   days on market $298,000 Active 48 DOM
9. 2026-05-31
   days on market $298,000 Active 47 DOM
10. 2026-05-06
    listed $2,500
11. 2026-04-15
    historical
12. 2026-04-15
    listed $298,000 Active 937-char remark
13. 2026-03-09
    listed $310,000 Active
14. 2026-03-09
    historical
15. 2026-01-09
    listed $319,000 Active
16. 2026-01-09
    historical
17. 2025-11-08
    listed $325,000 Active

ⓘ 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: $11,045 · $920/mo
• Projected year-2 tax: $11,045 · $920/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°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: $43,992
• − Mortgage interest: −$16,693
• − Property taxes: −$11,045
• − Insurance: −$1,490
• − Repairs & maintenance: −$3,519
• − Management: −$3,519
• − HOA: −$900
• − Depreciation: −$8,669
• Taxable loss: −$1,844
• Est. tax savings @ 24.0%: +$443
• After-tax cash flow: $3,008/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: Lamar CISD
• NCES district ID: 4826580
• Math proficiency: 50% ▼ -12.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $75,213
• Composite: 46.43/100
• National rank: #2452
• State rank: #116 of 826 in TX

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 · 18,767 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: 20.0

Population outlook (Fort Bend County) Hauer SSP2

• Today (2025): 1,004,526 people
• By 2030: 1,153,104 · +14.8%
• By 2040: 1,453,718 · +44.7%
• By 2050: 1,753,781 · +74.6%
• By 2075: 2,455,772 · +144.5%
• By 2100: 2,930,528 · +191.7%

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%

Political lean MEDSL · Fort Bend

• 2024 margin: Toss-up / Even · D 49.5% · R 47.9% · Other 2.6%
• 2008→2024 swing: +4.0pp toward D · 2008: -2.4pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+10.6 2016: D+6.6 2012: R+6.8 2008: R+2.4

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

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

-99.2% since first listed

13 events — show timeline

• 2026-06-15 Pending — HARMLS
• 2026-06-04 Pending — HARMLS
• 2026-06-04 Rental Removed $2,500 HARMLS
• 2026-06-02 Listed $298,000 HARMLS
• 2026-06-01 Listing Removed — HARMLS
• 2026-05-06 Listed for Rent $2,500 HARMLS
• 2026-04-15 Listing Removed — HARMLS
• 2026-04-15 Listed $298,000 HARMLS
• 2026-03-09 Listing Removed — HARMLS
• 2026-03-09 Listed $310,000 HARMLS
• 2026-01-09 Listing Removed — HARMLS
• 2026-01-09 Listed $319,000 HARMLS
• 2025-11-08 Listed $325,000 HARMLS

Property tax history

+108.8%/yr

Latest (2025): $11,045 · +0.4% YoY. Source: county tax records.