12900 Walden Rd Unit 506E · Conroe, TX 77356

$135,000

2 bd · 2.0 ba · 866 sqft · Condo · 336 Days on market

Built 1979 Good condition $156/sqft · 11% above area Est $121k · 11% over $437/mo HOA · 26% of rent ↓ 21% since listing

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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 +11.5/30.0
• 1% rule +7.4/10.0
• Schools +5.4/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• DSCR +3.4/10.0
• ARV discount +2.4/15.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Upgrade your lifestyle in this chic updated condo at the 18th in Walden! Do you envision relaxation and leisure in your future? Looking for your next business opportunity? This home is perfect for a Full-time Residence, Weekend Getaway, or Vacation Rental. Updated with all new floors, all interior paint, new appliances, and modern finishes. No carpet means allergy friendly and low maintenance! The covered balcony provides great views of the greenspace and pool area. This golf course community is both luxurious and laid back giving you vacation vibes all year round. Enjoy quick access to the 18th at Walden community Pool, go grab a cocktail at the Breakwater Grille during happy hour, or take advantage of Walden's numerous amenities including the Racquet Club, Fitness Center, Yacht Club Pool with Lake View, Baseball Fields, 2 Boat Launches, Playgrounds, Dog Park, a paved "Hike-and-Bike" Trail, and more! Live your dream and get your offer in TODAY!

Key facts

• Fitness center
• Covered balcony
• Community pool

Tags

• UPDATED FLOORS
• COVERED BALCONY
• GOLF COURSE COMMUNITY
• COMMUNITY POOL
• FITNESS CENTER
• LAKE VIEW

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $135k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-45 ($-539/yr) — negative.
• To cash-flow at today's rent, offer at most $129k (4.8% below list).
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.9% 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.
• 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.
• Market conditions: Rents falling (-3.3%/yr); 1056 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 13,259 units permitted in Montgomery County in 2024 (1,402 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k 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 336 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y 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

• 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 $118,800 (12.0% 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 336 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1979 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.24% ✓
• Cap rate: 5.89%
• Cash-on-cash: -1.43%
• DSCR: 0.94
• GRM: 6.7

CMA / ARV

• ARV (median comp): $121,196
• List price: $135,000
• Delta: 11.39%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -23.6%
• Equity multiple: 0.22×
• Total profit: $-29,357
• Equity at exit: $20,129

10-year hold

• IRR: -39.6%
• Equity multiple: -0.24×
• Total profit: $-47,049
• Equity at exit: $11,672

Cash invested: $37,800 (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 77356

• Home prices YoY: -30.3%
• Rents YoY: -3.3%
• Active inventory: 1056
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,677 medium
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$437
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-45

Break-even live

Break-even rent $1,734

Max offer price $128,502

Occupancy floor 98%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12500 Melville Dr Unit 317B Montgomery, TX	2.0	2.0	902	$1,550	$1.72	44d	1	0.92mi
12500 Melville Dr Unit 227C Montgomery, TX	2.0	2.0	917	$1,700	$1.85	44d	1	0.92mi
12100 Melville Dr Montgomery, TX	2.0	2.0	964	$1,750	$1.82	44d	2	1.10mi
298 Capetown Way Unit A Montgomery, TX	2.0	1.5	1100	$1,400	$1.27	44d	1	1.26mi

HOA detail condo

• Monthly dues: $437 · $5,244/yr
• Likely covers: waterlandscapingpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $135,000 Active 336 DOM
2. 2026-06-17
   days on market $135,000 Active 335 DOM
3. 2026-06-16
   days on market $135,000 Active 334 DOM
4. 2026-06-15
   days on market $135,000 Active 333 DOM
5. 2026-06-13
   days on market $135,000 Active 331 DOM
6. 2026-06-13
   days on market $135,000 Active 330 DOM
7. 2026-06-09
   days on market $135,000 Active 327 DOM
8. 2026-06-08
   days on market $135,000 Active 326 DOM
9. 2026-06-07
   days on market $135,000 Active 325 DOM
10. 2026-06-04
    days on market $135,000 Active 322 DOM
11. 2026-06-03
    days on market $135,000 Active 321 DOM
12. 2026-06-02
    days on market $135,000 Active 320 DOM
13. 2026-06-01
    days on market $135,000 Active 319 DOM
14. 2026-05-31
    days on market $135,000 Active 318 DOM
15. 2025-10-01
    status Active 969-char remark

    Show marketing remark (969 chars)

    Upgrade your lifestyle in this chic updated condo at the 18th in Walden! Do you envision relaxation and leisure in your future? Looking for your next business opportunity? This home is perfect for a Full-time Residence, Weekend Getaway, or Vacation Rental. Updated with all new floors, all interior paint, new appliances, and modern finishes. No carpet means allergy friendly and low maintenance! The covered balcony provides great views of the greenspace and pool area. This golf course community is both luxurious and laid back giving you vacation vibes all year round. Enjoy quick access to the 18th at Walden community Pool, go grab a cocktail at the Breakwater Grille during happy hour, or take advantage of Walden's numerous amenities including the Racquet Club, Fitness Center, Yacht Club Pool with Lake View, Baseball Fields, 2 Boat Launches, Playgrounds, Dog Park, a paved "Hike-and-Bike" Trail, and more! Live your dream and get your offer in TODAY!

16. 2025-09-26
    historical Active Under Contract 969-char remark

    Show marketing remark (969 chars)

    Upgrade your lifestyle in this chic updated condo at the 18th in Walden! Do you envision relaxation and leisure in your future? Looking for your next business opportunity? This home is perfect for a Full-time Residence, Weekend Getaway, or Vacation Rental. Updated with all new floors, all interior paint, new appliances, and modern finishes. No carpet means allergy friendly and low maintenance! The covered balcony provides great views of the greenspace and pool area. This golf course community is both luxurious and laid back giving you vacation vibes all year round. Enjoy quick access to the 18th at Walden community Pool, go grab a cocktail at the Breakwater Grille during happy hour, or take advantage of Walden's numerous amenities including the Racquet Club, Fitness Center, Yacht Club Pool with Lake View, Baseball Fields, 2 Boat Launches, Playgrounds, Dog Park, a paved "Hike-and-Bike" Trail, and more! Live your dream and get your offer in TODAY!

17. 2025-09-11
    status Pending 969-char remark

    Show marketing remark (969 chars)

    Upgrade your lifestyle in this chic updated condo at the 18th in Walden! Do you envision relaxation and leisure in your future? Looking for your next business opportunity? This home is perfect for a Full-time Residence, Weekend Getaway, or Vacation Rental. Updated with all new floors, all interior paint, new appliances, and modern finishes. No carpet means allergy friendly and low maintenance! The covered balcony provides great views of the greenspace and pool area. This golf course community is both luxurious and laid back giving you vacation vibes all year round. Enjoy quick access to the 18th at Walden community Pool, go grab a cocktail at the Breakwater Grille during happy hour, or take advantage of Walden's numerous amenities including the Racquet Club, Fitness Center, Yacht Club Pool with Lake View, Baseball Fields, 2 Boat Launches, Playgrounds, Dog Park, a paved "Hike-and-Bike" Trail, and more! Live your dream and get your offer in TODAY!

18. 2025-07-02
    listed $135,000 Active 969-char remark

    Show marketing remark (969 chars)

    Upgrade your lifestyle in this chic updated condo at the 18th in Walden! Do you envision relaxation and leisure in your future? Looking for your next business opportunity? This home is perfect for a Full-time Residence, Weekend Getaway, or Vacation Rental. Updated with all new floors, all interior paint, new appliances, and modern finishes. No carpet means allergy friendly and low maintenance! The covered balcony provides great views of the greenspace and pool area. This golf course community is both luxurious and laid back giving you vacation vibes all year round. Enjoy quick access to the 18th at Walden community Pool, go grab a cocktail at the Breakwater Grille during happy hour, or take advantage of Walden's numerous amenities including the Racquet Club, Fitness Center, Yacht Club Pool with Lake View, Baseball Fields, 2 Boat Launches, Playgrounds, Dog Park, a paved "Hike-and-Bike" Trail, and more! Live your dream and get your offer in TODAY!

19. 2022-12-06
    soldstatus Sold 961-char remark

    Show marketing remark (961 chars)

    The possibilities are endless with this beachy inspired condo in Walden. Are you ready to live a life of relaxation and leisure? Pull up in your car or golf cart and say hello to this beautiful 18th Hole condo in the coveted neighborhood of Walden on Lake Conroe. This golf course community is both luxurious and laid back giving you vacation vibes all year round. You're minutes from Walden's racquet club, boat launch, Golf Club, AND Margaritaville. You truly have it all at your fingertips. The seller has enjoyed living here and has expressed that the amenities in this community make this THE PLACE TO BE! Check out the list of amenities in the flyer attached to the listing. There were too many amenities to list in this paragraph. This would make a phenomenal air bnb property. The seller has put A LOT of upgrades into this unit over the past several years…you have no reason to delay in scheduling your showing and getting your offer in today!

20. 2022-11-22
    status Pending 961-char remark

    Show marketing remark (961 chars)

    The possibilities are endless with this beachy inspired condo in Walden. Are you ready to live a life of relaxation and leisure? Pull up in your car or golf cart and say hello to this beautiful 18th Hole condo in the coveted neighborhood of Walden on Lake Conroe. This golf course community is both luxurious and laid back giving you vacation vibes all year round. You're minutes from Walden's racquet club, boat launch, Golf Club, AND Margaritaville. You truly have it all at your fingertips. The seller has enjoyed living here and has expressed that the amenities in this community make this THE PLACE TO BE! Check out the list of amenities in the flyer attached to the listing. There were too many amenities to list in this paragraph. This would make a phenomenal air bnb property. The seller has put A LOT of upgrades into this unit over the past several years…you have no reason to delay in scheduling your showing and getting your offer in today!

21. 2022-11-15
    status Option Pending 961-char remark

    Show marketing remark (961 chars)

    The possibilities are endless with this beachy inspired condo in Walden. Are you ready to live a life of relaxation and leisure? Pull up in your car or golf cart and say hello to this beautiful 18th Hole condo in the coveted neighborhood of Walden on Lake Conroe. This golf course community is both luxurious and laid back giving you vacation vibes all year round. You're minutes from Walden's racquet club, boat launch, Golf Club, AND Margaritaville. You truly have it all at your fingertips. The seller has enjoyed living here and has expressed that the amenities in this community make this THE PLACE TO BE! Check out the list of amenities in the flyer attached to the listing. There were too many amenities to list in this paragraph. This would make a phenomenal air bnb property. The seller has put A LOT of upgrades into this unit over the past several years…you have no reason to delay in scheduling your showing and getting your offer in today!

22. 2022-10-28
    price $158,000 961-char remark

    Show marketing remark (961 chars)

    The possibilities are endless with this beachy inspired condo in Walden. Are you ready to live a life of relaxation and leisure? Pull up in your car or golf cart and say hello to this beautiful 18th Hole condo in the coveted neighborhood of Walden on Lake Conroe. This golf course community is both luxurious and laid back giving you vacation vibes all year round. You're minutes from Walden's racquet club, boat launch, Golf Club, AND Margaritaville. You truly have it all at your fingertips. The seller has enjoyed living here and has expressed that the amenities in this community make this THE PLACE TO BE! Check out the list of amenities in the flyer attached to the listing. There were too many amenities to list in this paragraph. This would make a phenomenal air bnb property. The seller has put A LOT of upgrades into this unit over the past several years…you have no reason to delay in scheduling your showing and getting your offer in today!

23. 2022-10-20
    price $168,000 961-char remark

    Show marketing remark (961 chars)

    The possibilities are endless with this beachy inspired condo in Walden. Are you ready to live a life of relaxation and leisure? Pull up in your car or golf cart and say hello to this beautiful 18th Hole condo in the coveted neighborhood of Walden on Lake Conroe. This golf course community is both luxurious and laid back giving you vacation vibes all year round. You're minutes from Walden's racquet club, boat launch, Golf Club, AND Margaritaville. You truly have it all at your fingertips. The seller has enjoyed living here and has expressed that the amenities in this community make this THE PLACE TO BE! Check out the list of amenities in the flyer attached to the listing. There were too many amenities to list in this paragraph. This would make a phenomenal air bnb property. The seller has put A LOT of upgrades into this unit over the past several years…you have no reason to delay in scheduling your showing and getting your offer in today!

24. 2022-10-15
    listed $170,000 Active 961-char remark

    Show marketing remark (961 chars)

    The possibilities are endless with this beachy inspired condo in Walden. Are you ready to live a life of relaxation and leisure? Pull up in your car or golf cart and say hello to this beautiful 18th Hole condo in the coveted neighborhood of Walden on Lake Conroe. This golf course community is both luxurious and laid back giving you vacation vibes all year round. You're minutes from Walden's racquet club, boat launch, Golf Club, AND Margaritaville. You truly have it all at your fingertips. The seller has enjoyed living here and has expressed that the amenities in this community make this THE PLACE TO BE! Check out the list of amenities in the flyer attached to the listing. There were too many amenities to list in this paragraph. This would make a phenomenal air bnb property. The seller has put A LOT of upgrades into this unit over the past several years…you have no reason to delay in scheduling your showing and getting your offer in today!

25. 2022-10-14
    historical $170,000 961-char remark

    Show marketing remark (961 chars)

    The possibilities are endless with this beachy inspired condo in Walden. Are you ready to live a life of relaxation and leisure? Pull up in your car or golf cart and say hello to this beautiful 18th Hole condo in the coveted neighborhood of Walden on Lake Conroe. This golf course community is both luxurious and laid back giving you vacation vibes all year round. You're minutes from Walden's racquet club, boat launch, Golf Club, AND Margaritaville. You truly have it all at your fingertips. The seller has enjoyed living here and has expressed that the amenities in this community make this THE PLACE TO BE! Check out the list of amenities in the flyer attached to the listing. There were too many amenities to list in this paragraph. This would make a phenomenal air bnb property. The seller has put A LOT of upgrades into this unit over the past several years…you have no reason to delay in scheduling your showing and getting your offer in today!

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 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: $20,127
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − HOA: −$5,244
• − Depreciation: −$3,927
• Taxable loss: −$2,526
• Est. tax savings @ 24.0%: +$606
• After-tax cash flow: $67/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 updated condo is move-in ready with fresh paint, new flooring, and modern finishes. It offers a great location with access to amenities and a golf course community.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Trim and mulch landscaping — Improves curb appeal and enhances property value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Trim and mulch landscaping — Improves curb appeal and enhances property value ↑

ⓘ 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: 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): 32,583
• Household income: $106,804
• Rent vs Own: 18.5% rent · 81.5% own
• Severe rent burden: 414.0

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 (87%)
• Race & ethnicity: White 87% Two or more races 5% Hispanic / Latino 5% Black 4%
• Common ancestry: Lithuanian 8% Slovak 2% Romanian 2%
• Foreign-born: 3% · Canada, China
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -101.28%
• Current HPI: 233.0032
• Rent YoY: ▼ -3.30%
• 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

-20.6% since first listed

11 events — show timeline

• 2025-10-01 Relisted — HARMLS
• 2025-09-26 Contingent — HARMLS
• 2025-09-11 Pending — HARMLS
• 2025-07-02 Listed $135,000 HARMLS
• 2022-12-06 Sold (MLS) — HARMLS
• 2022-11-22 Pending — HARMLS
• 2022-11-15 Pending — HARMLS
• 2022-10-28 Price Changed $158,000 HARMLS
• 2022-10-20 Price Changed $168,000 HARMLS
• 2022-10-15 Listed $170,000 HARMLS
• 2022-10-14 Coming Soon $170,000 HARMLS