29211 Farmhouse Estates Dr · Houston, TX 77484

$234,090

3 bd · 2.0 ba · 1,414 sqft · SingleFamily · 114 Days on market

Built 2026 Excellent condition $166/sqft · 7% below area Est $251k · 7% under $50/mo HOA · 3% of rent ↓ 8% 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).

• ARV discount +10.6/15.0
• Cash flow +9.7/30.0
• Condition / age +4.8/5.0
• Livability +3.7/5.0
• 1% rule +3.2/10.0
• Appreciation +2.9/10.0
• Schools +2.9/10.0
• DSCR +2.7/10.0
• Rent growth +1.6/5.0

Listing remarks MLS

Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom. White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet.

Key facts

• Primary suite
• Recreation center
• 2 garage spots

Tags

• ENERGY EFFICIENT HOME
• PRIMARY SUITE
• SPA LIKE PRIMARY BATHROOM
• RECREATION CENTER
• SCENIC WALKING TRAILS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $234k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-155 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $212k (9.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $191k (18.2% below list).
• Recommended offer: $191k (18.2% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 3.2% in Houston — 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 (#184 in TX, #4,771 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime F.
• Waller ISD (rural): math 30% / reading 35% proficiency, ranked #532 of 826 in TX (top 64%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Evelyn Turlington El (math 46% / reading 45%, grade D-, #1,112 of 4,322 statewide, top 26%, 1,084 students, 69% FRL); Waller J H (math 21% / reading 28%, grade F, #1,279 of 1,662 statewide, top 78%, 899 students, 69% FRL); Waller H S (math 25% / reading 40%, grade F, #1,029 of 1,632 statewide, top 64%, 2,639 students, 62% FRL).
• Market conditions: Rents falling (-3.8%/yr); 1196 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 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 $7k of value loss. Plan a longer hold.
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($213k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $29k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; major wildfire risk; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $191,476 (18.2% 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 114 days. Have you received any prior offers? Is the seller open to a 18% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 0.82% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.84%
• DSCR: 0.87
• GRM: 10.2

CMA / ARV

• ARV (median comp): $251,290
• List price: $234,090
• Delta: -6.84%
• 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
29219 Farmhouse Estates Dr	0.02mi	3/2.0	1,414 (0%)	1mo	$252,540	$179	98
29215 Farmhouse Estates Dr	0.01mi	3/2.0	1,428 (+1%)	0mo	$233,940	$164	98
29202 Farmhouse Estates Dr	0.03mi	3/2.0	1,414 (0%)	2mo	$230,690	$163	97
29131 Farmhouse Estates Dr	0.04mi	3/2.0	1,414 (0%)	2mo	$261,240	$185	97
29207 Farmhouse Estates Dr	0.01mi	3/2.0	1,449 (+2%)	2mo	$249,940	$172	94
29134 Farmhouse Estates Dr	0.04mi	3/2.0	1,449 (+2%)	2mo	$227,790	$157	92
17411 Sage Run Dr	0.12mi	3/2.0	1,388 (-2%)	2mo	$246,900	$178	90
29227 Farmhouse Estates Dr	0.04mi	4/2.0 (+1)	1,565 (+11%)	0mo	$250,040	$160	75
29210 Farmhouse Estates Dr	0.02mi	4/2.0 (+1)	1,565 (+11%)	1mo	$260,040	$166	75
29218 Farmhouse Estates Dr	0.02mi	4/2.0 (+1)	1,565 (+11%)	1mo	$241,040	$154	75
29130 Farmhouse Estates Dr	0.05mi	4/2.0 (+1)	1,565 (+11%)	2mo	$241,040	$154	74
29123 Dandelion Sky Dr	0.08mi	4/2.0 (+1)	1,582 (+12%)	1mo	$273,900	$173	71

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: -24.5%
• Equity multiple: 0.19×
• Total profit: $-53,362
• Equity at exit: $34,904

10-year hold

• IRR: -32.8%
• Equity multiple: -0.23×
• Total profit: $-80,629
• Equity at exit: $20,240

Cash invested: $65,545 (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 77484

• Home prices YoY: -1.0%
• Rents YoY: -3.8%
• Active inventory: 1196
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $1,915 medium
• Mortgage (P&I): −$1,228
• Tax est. 1.5%: −$293 /mo · $3,511/yr
• Insurance: −$98
• HOA: −$50
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-155

Break-even live

Break-even rent $2,111

Max offer price $211,649

Occupancy floor —

Sensitivity live

Price	-10% $7	-5% $-74	+0% $-155	+5% $-236	+10% $-317
Rent	-10% $-306	-5% $-231	+0% $-155	+5% $-79	+10% $-4
Rate	-1.0pp $-37	-0.5pp $-96	base $-155	+0.5pp $-216	+1.0pp $-277

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: $58,522
• Closing costs: $7,023
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16315 Mesquite Field Dr Hockley, TX	4.0	2.0	1500	$2,600	$1.73	45d	1	1.31mi

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 25 events

1. 2026-06-13
   statusdays on market $234,090 Pending 114 DOM
2. 2026-06-09
   days on market $234,090 Active 111 DOM
3. 2026-06-08
   pricedays on market $234,090 Active 110 DOM
4. 2026-06-07
   days on market $242,090 Active 109 DOM
5. 2026-06-04
   days on market $242,090 Active 106 DOM
6. 2026-06-03
   pricedays on market $242,090 Active 105 DOM
7. 2026-06-02
   days on market $240,090 Active 104 DOM
8. 2026-06-01
   days on market $240,090 Active 103 DOM
9. 2026-05-31
   days on market $240,090 Active 102 DOM
10. 2026-05-16
    price $240,090 222-char remark

    Show marketing remark (222 chars)

    Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom. White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet.

11. 2026-05-15
    price $240,090 649-char remark

    Show marketing remark (649 chars)

    Brand new, energy-efficient home available by Apr 2026! Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom.White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet. Discover Sanford Fames in Waller, TX, an ideally located community with easy freeway access, top-rated schools, and planned amenities including a recreation center, pocket parks, ponds, and scenic walking trails. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

12. 2026-05-14
    price $239,090 222-char remark

    Show marketing remark (222 chars)

    Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom. White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet.

13. 2026-05-13
    price $239,090 649-char remark

    Show marketing remark (649 chars)

    Brand new, energy-efficient home available by Apr 2026! Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom.White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet. Discover Sanford Fames in Waller, TX, an ideally located community with easy freeway access, top-rated schools, and planned amenities including a recreation center, pocket parks, ponds, and scenic walking trails. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

14. 2026-05-09
    price $260,090 222-char remark

    Show marketing remark (222 chars)

    Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom. White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet.

15. 2026-05-08
    price $260,090 649-char remark

    Show marketing remark (649 chars)

    Brand new, energy-efficient home available by Apr 2026! Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom.White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet. Discover Sanford Fames in Waller, TX, an ideally located community with easy freeway access, top-rated schools, and planned amenities including a recreation center, pocket parks, ponds, and scenic walking trails. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

16. 2026-05-02
    price $267,090 222-char remark

    Show marketing remark (222 chars)

    Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom. White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet.

17. 2026-05-01
    price $267,090 649-char remark

    Show marketing remark (649 chars)

    Brand new, energy-efficient home available by Apr 2026! Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom.White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet. Discover Sanford Fames in Waller, TX, an ideally located community with easy freeway access, top-rated schools, and planned amenities including a recreation center, pocket parks, ponds, and scenic walking trails. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

18. 2026-04-25
    status Active 222-char remark

    Show marketing remark (222 chars)

    Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom. White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet.

19. 2026-04-25
    historical 222-char remark

    Show marketing remark (222 chars)

    Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom. White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet.

20. 2026-04-23
    listed $263,090 Active 222-char remark

    Show marketing remark (222 chars)

    Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom. White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet.

21. 2026-04-01
    price $263,090 649-char remark

    Show marketing remark (649 chars)

    Brand new, energy-efficient home available by Apr 2026! Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom.White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet. Discover Sanford Fames in Waller, TX, an ideally located community with easy freeway access, top-rated schools, and planned amenities including a recreation center, pocket parks, ponds, and scenic walking trails. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

22. 2026-03-02
    price $261,090 649-char remark

    Show marketing remark (649 chars)

    Brand new, energy-efficient home available by Apr 2026! Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom.White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet. Discover Sanford Fames in Waller, TX, an ideally located community with easy freeway access, top-rated schools, and planned amenities including a recreation center, pocket parks, ponds, and scenic walking trails. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

23. 2026-02-19
    price $260,090 649-char remark

    Show marketing remark (649 chars)

    Brand new, energy-efficient home available by Apr 2026! Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom.White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet. Discover Sanford Fames in Waller, TX, an ideally located community with easy freeway access, top-rated schools, and planned amenities including a recreation center, pocket parks, ponds, and scenic walking trails. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

24. 2026-02-18
    price $270,090 649-char remark

    Show marketing remark (649 chars)

    Brand new, energy-efficient home available by Apr 2026! Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom.White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet. Discover Sanford Fames in Waller, TX, an ideally located community with easy freeway access, top-rated schools, and planned amenities including a recreation center, pocket parks, ponds, and scenic walking trails. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

25. 2026-02-18
    listed $260,090 Active 649-char remark

    Show marketing remark (649 chars)

    Brand new, energy-efficient home available by Apr 2026! Unwind after a long day in the Glacier's relaxing primary suite, complete with a spa-like primary bathroom.White cabinets with light quartz countertops and white backsplash, light brown EVP flooring and multi-tone carpet. Discover Sanford Fames in Waller, TX, an ideally located community with easy freeway access, top-rated schools, and planned amenities including a recreation center, pocket parks, ponds, and scenic walking trails. Each of our homes is built with innovative, energy-efficient features designed to help you enjoy more savings, better health, real comfort and peace of mind.

ⓘ 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 6/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 21 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: $22,977
• − Mortgage interest: −$13,113
• − Property taxes: −$3,511
• − Insurance: −$1,170
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − HOA: −$600
• − Depreciation: −$6,810
• Taxable loss: −$5,904
• Est. tax savings @ 24.0%: +$1,417
• After-tax cash flow: $-444/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 · 12 photos

Excellent 95/100 None rehab

This brand new, energy-efficient home is move-in ready with excellent condition and no visible repairs needed. Staging, landscaping, and painting would further enhance its value.

Value-add opportunities

• Both Staging — Enhances curb appeal and interior aesthetics
• Both Landscaping — Improves curb appeal and enhances property value
• Both Painting — Fresh paint can make a significant difference in curb appeal and interior aesthetics

Renovation cost estimate screening

Value-add ROI direction

• Both Staging — Enhances curb appeal and interior aesthetics ↑
• Both Landscaping — Improves curb appeal and enhances property value ↑
• Both Painting — Fresh paint can make a significant difference in curb appeal and interior aesthetics ↑

ⓘ 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: Waller ISD
• NCES district ID: 4844430
• Math proficiency: 30% ▼ -23.00%
• Reading proficiency: 35% ▼ -11.00%
• Median HH income: $58,911
• Composite: 29.12/100
• National rank: #6593
• State rank: #532 of 826 in TX

Livability — Houston

• Score: 74/100
• State rank: #184
• US rank: #4771

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 14,348
• Household income: $81,250
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 270.0

Population outlook (Harris County) Hauer SSP2

• Today (2025): 5,571,493 people
• By 2030: 6,089,821 · +9.3%
• By 2040: 7,142,806 · +28.2%
• By 2050: 8,185,864 · +46.9%
• By 2075: 10,574,329 · +89.8%
• By 2100: 12,109,958 · +117.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 47% Hispanic / Latino 31% Two or more races 16% Black 15%
• Hispanic origin (detail): Mexican 30%
• Common ancestry: Slovak 2% Serbian 2% Iranian 1%
• Foreign-born: 13% · Canada
• Languages at home: 73% English-only · Spanish 24% Arabic 2%

Political lean MEDSL · Harris

• 2024 margin: Lean D (+5.5) · D 52.0% · R 46.4% · Other 1.6%
• 2008→2024 swing: +3.9pp toward D · 2008: 1.6pp · 2024: 5.5pp
• All cycles: 2024: D+5.5 2020: D+13.3 2016: D+12.4 2012: D+0.1 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -4.17%
• Current HPI: 397.85
• Rent YoY: ▼ -3.77%
• 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

-7.7% since first listed

16 events — show timeline

• 2026-05-16 Price Changed $240,090 Zillow
• 2026-05-15 Price Changed $240,090 HARMLS
• 2026-05-14 Price Changed $239,090 Zillow
• 2026-05-13 Price Changed $239,090 HARMLS
• 2026-05-09 Price Changed $260,090 Zillow
• 2026-05-08 Price Changed $260,090 HARMLS
• 2026-05-02 Price Changed $267,090 Zillow
• 2026-05-01 Price Changed $267,090 HARMLS
• 2026-04-25 Relisted — Zillow
• 2026-04-25 Delisted — Zillow
• 2026-04-23 Listed $263,090 Zillow
• 2026-04-01 Price Changed $263,090 HARMLS
• 2026-03-02 Price Changed $261,090 HARMLS
• 2026-02-19 Price Changed $260,090 HARMLS
• 2026-02-18 Price Changed $270,090 HARMLS
• 2026-02-18 Listed $260,090 HARMLS