12900 Walden Rd Unit 814H · Conroe, TX 77356

$110,000

2 bd · 2.0 ba · 866 sqft · Condo · 259 Days on market

Built 1982 Good condition $127/sqft · 15% below area Est $130k · 15% under $437/mo HOA · 26% of rent ↓ 20% 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 +19.7/30.0
• ARV discount +14.5/15.0
• 1% rule +10.0/10.0
• DSCR +6.2/10.0
• Schools +5.4/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +1.7/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Golf course living awaits in this move-in ready two-bedroom, two-bathroom condo located in Walden on Lake Conroe. Step out onto your private balcony and take in relaxing views of the adult pool and the premier fairway. Inside you’ll find a bright, open layout designed for comfort and ease. With its lock-and-leave convenience, this condo makes the perfect primary home, weekend retreat, or investment property. Walden offers unmatched amenities, including a fitness center, championship golf course, tennis and pickleball courts, multiple pools, jogging paths, dog park, clubhouse, Yacht Club, boating, fishing, and so much more. Enjoy the best of lakefront living paired with golf course beauty, right here at Walden on Lake Conroe. Make your appointment today!

Key facts

• Fitness center
• Pickleball courts
• Private balcony

Tags

• PRIVATE BALCONY
• FITNESS CENTER
• CHAMPIONSHIP GOLF COURSE
• TENNIS COURTS
• PICKLEBALL COURTS
• MULTIPLE POOLS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $110k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $128 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $97k (12.0% below list) — sets the bar for market timing.
• 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: 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 $761 of loan paydown is wiped out by about $3k 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 259 days — a 12% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $25k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

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 $96,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 259 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
8. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
9. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.52% ✓
• Cap rate: 7.69%
• Cash-on-cash: 4.98%
• DSCR: 1.22
• GRM: 5.5

CMA / ARV

• ARV (median comp): $130,129
• List price: $110,000
• Delta: -15.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -13.5%
• Equity multiple: 0.54×
• Total profit: $-14,302
• Equity at exit: $16,401

10-year hold

• IRR: -14.0%
• Equity multiple: 0.36×
• Total profit: $-19,770
• Equity at exit: $9,511

Cash invested: $30,800 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,677 medium
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• HOA: −$437
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $128

Break-even live

Break-even rent $1,515

Max offer price $110,000

Occupancy floor 87%

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: $27,500
• Closing costs: $3,300
• 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	43d	1	0.92mi
12500 Melville Dr Unit 227C Montgomery, TX	2.0	2.0	917	$1,700	$1.85	43d	1	0.92mi
12100 Melville Dr Montgomery, TX	2.0	2.0	964	$1,750	$1.82	43d	2	1.10mi
298 Capetown Way Unit A Montgomery, TX	2.0	1.5	1100	$1,400	$1.27	43d	1	1.26mi

HOA detail condo

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

Listing history 22 events

1. 2026-06-18
   days on market $110,000 Active 259 DOM
2. 2026-06-17
   days on market $110,000 Active 258 DOM
3. 2026-06-16
   days on market $110,000 Active 257 DOM
4. 2026-06-15
   days on market $110,000 Active 256 DOM
5. 2026-06-13
   days on market $110,000 Active 254 DOM
6. 2026-06-13
   days on market $110,000 Active 253 DOM
7. 2026-06-09
   days on market $110,000 Active 250 DOM
8. 2026-06-08
   days on market $110,000 Active 249 DOM
9. 2026-06-07
   days on market $110,000 Active 248 DOM
10. 2026-06-04
    days on market $110,000 Active 245 DOM
11. 2026-06-03
    days on market $110,000 Active 244 DOM
12. 2026-06-02
    days on market $110,000 Active 243 DOM
13. 2026-06-01
    days on market $110,000 Active 242 DOM
14. 2026-05-31
    days on market $110,000 Active 241 DOM
15. 2026-05-12
    price $110,000 772-char remark

    Show marketing remark (772 chars)

    Golf course living awaits in this move-in ready two-bedroom, two-bathroom condo located in Walden on Lake Conroe. Step out onto your private balcony and take in relaxing views of the adult pool and the premier fairway. Inside you’ll find a bright, open layout designed for comfort and ease. With its lock-and-leave convenience, this condo makes the perfect primary home, weekend retreat, or investment property. Walden offers unmatched amenities, including a fitness center, championship golf course, tennis and pickleball courts, multiple pools, jogging paths, dog park, clubhouse, Yacht Club, boating, fishing, and so much more. Enjoy the best of lakefront living paired with golf course beauty, right here at Walden on Lake Conroe. Make your appointment today!

16. 2025-12-29
    status Active 772-char remark

    Show marketing remark (772 chars)

    Golf course living awaits in this move-in ready two-bedroom, two-bathroom condo located in Walden on Lake Conroe. Step out onto your private balcony and take in relaxing views of the adult pool and the premier fairway. Inside you’ll find a bright, open layout designed for comfort and ease. With its lock-and-leave convenience, this condo makes the perfect primary home, weekend retreat, or investment property. Walden offers unmatched amenities, including a fitness center, championship golf course, tennis and pickleball courts, multiple pools, jogging paths, dog park, clubhouse, Yacht Club, boating, fishing, and so much more. Enjoy the best of lakefront living paired with golf course beauty, right here at Walden on Lake Conroe. Make your appointment today!

17. 2025-12-29
    price $120,000 772-char remark

    Show marketing remark (772 chars)

    Golf course living awaits in this move-in ready two-bedroom, two-bathroom condo located in Walden on Lake Conroe. Step out onto your private balcony and take in relaxing views of the adult pool and the premier fairway. Inside you’ll find a bright, open layout designed for comfort and ease. With its lock-and-leave convenience, this condo makes the perfect primary home, weekend retreat, or investment property. Walden offers unmatched amenities, including a fitness center, championship golf course, tennis and pickleball courts, multiple pools, jogging paths, dog park, clubhouse, Yacht Club, boating, fishing, and so much more. Enjoy the best of lakefront living paired with golf course beauty, right here at Walden on Lake Conroe. Make your appointment today!

18. 2025-11-22
    historical 772-char remark

    Show marketing remark (772 chars)

    Golf course living awaits in this move-in ready two-bedroom, two-bathroom condo located in Walden on Lake Conroe. Step out onto your private balcony and take in relaxing views of the adult pool and the premier fairway. Inside you’ll find a bright, open layout designed for comfort and ease. With its lock-and-leave convenience, this condo makes the perfect primary home, weekend retreat, or investment property. Walden offers unmatched amenities, including a fitness center, championship golf course, tennis and pickleball courts, multiple pools, jogging paths, dog park, clubhouse, Yacht Club, boating, fishing, and so much more. Enjoy the best of lakefront living paired with golf course beauty, right here at Walden on Lake Conroe. Make your appointment today!

19. 2025-11-05
    price $130,000 772-char remark

    Show marketing remark (772 chars)

    Golf course living awaits in this move-in ready two-bedroom, two-bathroom condo located in Walden on Lake Conroe. Step out onto your private balcony and take in relaxing views of the adult pool and the premier fairway. Inside you’ll find a bright, open layout designed for comfort and ease. With its lock-and-leave convenience, this condo makes the perfect primary home, weekend retreat, or investment property. Walden offers unmatched amenities, including a fitness center, championship golf course, tennis and pickleball courts, multiple pools, jogging paths, dog park, clubhouse, Yacht Club, boating, fishing, and so much more. Enjoy the best of lakefront living paired with golf course beauty, right here at Walden on Lake Conroe. Make your appointment today!

20. 2025-08-26
    listed $135,000 Active 772-char remark

    Show marketing remark (772 chars)

    Golf course living awaits in this move-in ready two-bedroom, two-bathroom condo located in Walden on Lake Conroe. Step out onto your private balcony and take in relaxing views of the adult pool and the premier fairway. Inside you’ll find a bright, open layout designed for comfort and ease. With its lock-and-leave convenience, this condo makes the perfect primary home, weekend retreat, or investment property. Walden offers unmatched amenities, including a fitness center, championship golf course, tennis and pickleball courts, multiple pools, jogging paths, dog park, clubhouse, Yacht Club, boating, fishing, and so much more. Enjoy the best of lakefront living paired with golf course beauty, right here at Walden on Lake Conroe. Make your appointment today!

21. 2025-08-21
    historical
22. 2025-06-12
    listed $138,000 Active

ⓘ 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: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$550
• − Repairs & maintenance: −$1,610
• − Management: −$1,610
• − HOA: −$5,244
• − Depreciation: −$3,200
• Taxable income: $101
• Est. tax owed @ 24.0%: −$24
• After-tax cash flow: $1,510/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 · 1 photo

Good 75/100 Cosmetic rehab

This move-in ready two-bedroom, two-bathroom condo is in good condition with minimal repairs needed. Upgrades to exterior paint, windows, and flooring can significantly enhance its value for both resale and rental markets.

Value-add opportunities

• Both Paint exterior walls — Enhances curb appeal and can increase both resale and rental value.
• Both Clean windows — Improves natural light and overall appearance, boosting both resale and rental value.
• Both Update flooring — Hardwood flooring is in good condition but could be refreshed with a new finish to enhance resale and rental appeal.
• Both Paint interior walls — Fresh paint can make the interior look more inviting and modern, increasing both resale and rental value.
• Both Upgrade HVAC system — A modern HVAC system can improve comfort and energy efficiency, enhancing both resale and rental value.
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value, benefiting both resale and rental markets.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior walls — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean windows — Improves natural light and overall appearance, boosting both resale and rental value. ↑
• Both Update flooring — Hardwood flooring is in good condition but could be refreshed with a new finish to enhance resale and rental appeal. ↑
• Both Paint interior walls — Fresh paint can make the interior look more inviting and modern, increasing both resale and rental value. ↑
• Both Upgrade HVAC system — A modern HVAC system can improve comfort and energy efficiency, enhancing both resale and rental value. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value, benefiting both resale and rental markets. ↑

ⓘ 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

-20.3% since first listed

8 events — show timeline

• 2026-05-12 Price Changed $110,000 HARMLS
• 2025-12-29 Relisted — HARMLS
• 2025-12-29 Price Changed $120,000 HARMLS
• 2025-11-22 Listing Removed — HARMLS
• 2025-11-05 Price Changed $130,000 HARMLS
• 2025-08-26 Listed $135,000 HARMLS
• 2025-08-21 Listing Removed — HARMLS
• 2025-06-12 Listed $138,000 HARMLS