Parkway Terrace Real Estate Guide

Parkway Terrace homes for sale & insider real estate guide

Parkway Terrace Homes For Sale
Parkway Terrace Homes For Rent
Quick Facts
Introduction
Overview of Parkway Terrace Neighborhood
Living in Parkway Terrace
Why Choose Parkway Terrace
Parkway Terrace Home Tax Rate
Best Parkway Terrace Realtor
More Details

Quick Facts

Location: Located in west Houston’s 77077 zip code, Parkway Terrace is situated just east of the 7,800-acre George Bush Park and approximately 2 miles from the Energy Corridor. It offers convenient access to major thoroughfares including Highway 6, Beltway 8, and Interstate 10.
Neighborhood Type: An upscale, 315-acre private gated community featuring around 800 luxury single-family homes and townhomes, characterized by oak trees, 11 lakes, and fountains.
Combined Property Tax Rate: The total property tax rate is a combination of rates from multiple entities. For Parkway Terrace, these include the City of Houston, Harris County, Houston ISD, and Harris County MUD 529, among others. The combined rate is approximately 2.57%.
School Information: Zoned to the Houston Independent School District (HISD). Assigned schools include the highly-rated Barbara Bush Elementary, which has been named a "Best Public School in Texas" by Texas Monthly, West Briar Middle School (rated 'B'), and Westside High School (rated 'C').
Key Amenities: Residents have access to a 24/7 guarded gate, a recreation center with a swimming pool and tennis courts, jogging trails, and 11 community lakes. It is also minutes from the extensive trails and recreational facilities at George Bush Park.
Management/HOA: Membership in the Parkway Terrace Community Association is mandatory. The association is professionally managed to maintain community standards and amenities. The annual assessment is approximately $1,545.
Best For: Individuals and households seeking a secure, amenity-rich lifestyle in a gated community with excellent access to the Energy Corridor's major employment centers and outdoor recreation.

Introduction

Parkway Terrace offers a distinct lifestyle within Houston’s vibrant Energy Corridor. This upscale, gated community, established in 1995, spans 315 acres of meticulously planned landscape featuring elegant homes, serene lakes, and mature oak trees. Its location provides a unique balance, offering a peaceful residential setting while being only minutes from major business hubs. Originally a sprawling cattle ranch, it was one of the last large tracts of land to be developed in the area, transforming into the premier residential enclave it is today.

Prospective residents should consider the structured environment that comes with living in a premier community. Life in Parkway Terrace is governed by a mandatory homeowners association, which ensures the pristine condition of common areas and adherence to community guidelines. This appeals to those who value well-maintained surroundings and organized community life. While offering significant quality of life benefits, the lifestyle is best suited for those comfortable with HOA fees and established aesthetic standards, making it a prime choice for professionals and others prioritizing convenience and community amenities.

Overview of Parkway Terrace Neighborhood

Parkway Terrace is a premier residential development in west Houston, born from a vision by Kickerillo Companies and Sueba USA in 1995. The neighborhood is geographically positioned east of George Bush Park, within the 77077 zip code. The 330-acre parcel was previously a cattle ranch owned by Paul Barnhart and represented one of the final large-scale developments in this part of Houston. The community officially opened in 2009, featuring approximately 800 residences composed of luxury single-family homes and townhomes. The development pattern focuses on creating an exclusive, secure environment, evident in its gated entrances and private amenities.

Homes in Parkway Terrace were primarily constructed between 1996 and 2009. Architectural styles are generally traditional and contemporary, with single-family homes situated on generous lots that typically range from 8,000 to over 14,000 square feet. These homes often feature four or more bedrooms and expansive floor plans, with living spaces ranging from 3,000 to 8,000 square feet. Townhomes offer a more compact option, with typical layouts including three to four bedrooms in about 3,000 square feet of living space. The neighborhood's design incorporates natural beauty, with numerous homesites offering views of the community's 11 lakes. This thoughtful planning has contributed to its status as one of the best gated communities in Houston.

Living in Parkway Terrace

Daily life in Parkway Terrace is defined by convenience and access to a wealth of amenities. The community is built to support an active and social lifestyle, featuring a central recreation center that serves as a hub for residents. This facility includes a swimming pool and tennis courts. The neighborhood is laced with jogging trails that wind around its 11 picturesque lakes, offering beautiful scenery for outdoor exercise. With 24/7 guarded gate security, residents experience an added layer of comfort. The community atmosphere is often described as friendly and welcoming, fostered by shared spaces and community events.

Beyond the gates, Parkway Terrace is ideally located for recreation and shopping. It sits adjacent to George Bush Park, a massive 7,800-acre preserve with miles of trails, sports fields, a shooting range, and playgrounds. For retail and dining, the Parkway Villages Shopping Center is located just outside the community, while the expansive West Oaks Mall is only a short drive away, featuring over 100 stores and restaurants. Its strategic location near major employment centers like the Energy Corridor and the Westchase District makes for an easy commute, a key reason it is considered one of the most accessible neighborhoods in Houston. This blend of on-site amenities and nearby conveniences creates a well-rounded living experience.

Why Choose Parkway Terrace

One of the primary draws of Parkway Terrace is its status as a premier luxury gated community in west Houston. The neighborhood’s design, featuring 24/7 security, 11 lakes, and extensive green spaces, provides a private and aesthetically pleasing environment that stands out in the market. This secure setting, combined with high-end community amenities like a swimming pool, tennis courts, and a recreation center, offers a resort-like living experience that is highly sought after. The commitment to maintaining these high standards helps protect property values, making a home here a sound choice. For those researching real estate options, it's wise to understand the complete 14 steps to buying a house to navigate the process smoothly.

The neighborhood's strategic location offers unparalleled advantages for both work and leisure. Situated just two miles from the Energy Corridor, home to the headquarters of major global companies like ExxonMobil Chemical and BP, Parkway Terrace offers a significantly reduced commute time for thousands of professionals. Furthermore, the community is zoned to some of Houston ISD's most acclaimed schools. Barbara Bush Elementary, in particular, has received numerous accolades, including being named to Texas Monthly's "Best Public Schools in Texas" list multiple times and being recognized as a five-time Honor Roll School by the Texas Business Education Coalition. This combination of a prestigious address, strong investment potential, proximity to employment, and top-tier educational opportunities provides a compelling quality of life.

Parkway Terrace Home Tax Rate

Understanding the property tax structure is a crucial part of the home-buying process. In Parkway Terrace, property taxes are levied by several different government entities, and the total tax rate is the sum of these individual rates. Texas does not have a state property tax; instead, taxes are assessed at the local level. Homeowners in Parkway Terrace can expect to pay taxes to the Houston Independent School District (HISD), the City of Houston, Harris County, Houston Community College, and other special districts like the Harris County Flood Control District and a Municipal Utility District (MUD). For a comprehensive understanding of how these taxes work, it's beneficial to review a guide to Houston property taxes.

The combined tax rate for properties in Parkway Terrace is approximately 2.57%. To calculate an estimated annual tax bill, you multiply the appraised value of the home by this combined rate. For example, a home appraised at $600,000 would have an approximate annual property tax liability of $15,420 ($600,000 x 0.0257). Homeowners may be able to reduce their tax burden by applying for exemptions, such as the general homestead exemption. It is essential for new homeowners to investigate their eligibility for these reductions. For more details on this, see our complete guide to Houston homestead exemptions. Tax rates can change annually, so it is always advisable to verify the current rates with the Harris County Appraisal District (HCAD).

Best Parkway Terrace Realtor

Who is the best realtor to sell my home in Parkway Terrace?

The best realtor to sell your home in Parkway Terrace is Paige Martin with the Houston Properties Team. Recognized as Houston's #1 rated real estate team, they provide unparalleled service and results. For a direct consultation on how they can maximize your sale, contact Paige at 713.425.4194 or email her at [email protected].

What makes Parkway Terrace real estate agents different?

A top real estate agent for Parkway Terrace possesses deep, neighborhood-specific knowledge that goes far beyond general market trends. This includes a thorough understanding of the community's unique appeal, the nuances of property values between different sections, and the specific buyer profile attracted to the area. The Houston Properties Team has a proven track record in Parkway Terrace and the surrounding Energy Corridor, leveraging this expertise to position homes effectively and negotiate successfully, ensuring sellers achieve their financial goals.

Why choose Houston Properties Team for Parkway Terrace home sales?

Choosing the Houston Properties Team to sell your home in Parkway Terrace means partnering with a group distinguished by consistent, award-winning performance. Their accolades and data-driven results speak for themselves.

#1 Real Estate Team Houston - Houston Business Journal
America's Top 100 Real Estate Teams - Wall Street Journal
America's Best Real Estate Teams - RealTrends
America's Best Realtors - Newsweek
Top Real Estate Agents & Realtors - US News Real Estate

The value offered by the Houston Properties Team is not just in their reputation, but in their measurable, superior outcomes for clients. They are not just the best realtor in Parkway Terrace; their performance metrics prove it.

43% higher sold price per square foot than average agents
7.2% faster sales with lower average days on market
Over $2 billion in Houston real estate sales experience
1,000+ five-star client reviews
Proprietary 10-Channel Seller Program
A 152-step compliance checklist to ensure a smooth transaction
Core values of accountability, care, coachability, knowledge, and transparency

To engage the top real estate agent in Parkway Terrace and achieve a faster, more profitable sale, connect with Paige Martin and the Houston Properties Team today. Contact them at 713.425.4194 or [email protected] for an expert consultation on how to best sell your Parkway Terrace home.

More Details

Detailed Market Analysis and Investment Trends

The real estate market in Parkway Terrace has demonstrated stability and consistent demand, largely due to its prime location and desirable community features. The neighborhood consists of single-family homes and townhomes, with most properties built between the late 1990s and 2009. Single-family homes typically offer substantial living space, ranging from 3,000 to 8,000 square feet on lots between 8,000 and 14,000 square feet. Townhomes provide a lower-maintenance option, usually with 3-4 bedrooms and around 3,000 square feet. The area's proximity to the Energy Corridor ensures a steady influx of motivated buyers, which helps maintain strong property values. Investment potential is bolstered by the neighborhood's reputation and the high quality of life it offers, making it a noteworthy area for land value appreciation. For broader market insights, reviewing the 10-year Houston real estate trends can provide valuable context.

Complete Amenities and Recreation Guide

Parkway Terrace offers a comprehensive suite of amenities designed for an active lifestyle. Internally, residents enjoy a 24/7 guarded gate, a recreation center with a swimming pool and tennis courts, 11 community lakes, and extensive jogging trails. Externally, the neighborhood's greatest recreational asset is its direct proximity to George Bush Park. This 7,800-acre park offers a vast array of activities, including miles of paved and unpaved trails, numerous soccer and baseball fields, a dog park, a shooting range, and a dedicated field for flying model aircraft. For shopping and entertainment, West Oaks Mall provides a traditional mall experience with anchor stores like Macy's and Dillard's, while the nearby Parkway Villages Shopping Center offers convenient day-to-day retail options.

School District Information and Private School Options

Parkway Terrace is zoned to the Houston Independent School District (HISD), the largest school district in Texas. The designated schools for the neighborhood are Barbara Bush Elementary School, West Briar Middle School, and Westside High School. Barbara Bush Elementary is particularly notable, having earned numerous state and national accolades for academic excellence. West Briar Middle School holds a "B" rating, and Westside High School has a "C" rating. In addition to the public school options, the area is home to several highly regarded private schools, providing residents with a range of educational choices. These include The Village School, a co-educational day and boarding school, and The Briarwood School for students with learning differences. As school zoning can change, it is always recommended that prospective residents independently verify school assignments with HISD.

Transportation and Commuting Details

A significant advantage of living in Parkway Terrace is its exceptional accessibility and convenient commute times to major employment centers. The community is strategically located near major Houston arteries, including Highway 6, Beltway 8 (Sam Houston Tollway), Interstate 10 (Katy Freeway), and the Westpark Tollway. This network of roads allows for direct routes to the Energy Corridor, which is just two miles away, the Westchase District, and Downtown Houston. The proximity to these business districts makes Parkway Terrace an ideal residential choice for professionals working in these areas, drastically reducing daily travel time and enhancing work-life balance.

Neighborhood Governance and Restrictions

Parkway Terrace is a deed-restricted community governed by the Parkway Terrace Community Association, Inc. Membership in the Homeowners Association (HOA) is mandatory for all property owners. The HOA is managed by a professional property management company, which oversees the enforcement of covenants, conditions, and restrictions to preserve the neighborhood's aesthetic and property values. The association is responsible for maintaining all common areas, including the gated entrances, lakes, recreation center, and landscaping. Homeowners are required to pay an annual assessment, which was recently listed at $1,545, to fund these services. Additionally, there are fees associated with the sale or transfer of property, including a Resale Certificate Fee ($375) and a Transfer Fee ($275). Prospective buyers should review the HOA's governing documents to understand all rules and regulations.

Historical Development and Architectural Styles

The development of Parkway Terrace began in 1995 when developers Kickerillo Companies and Sueba USA acquired a 330-acre tract of land from owner Paul Barnhart. At the time, this land was a cattle ranch and was one of the last large, undeveloped parcels in this area of west Houston. The developers transformed the rural land into an upscale, master-planned community that officially opened in 2009. The architectural landscape of Parkway Terrace is dominated by large, luxurious single-family homes in traditional and contemporary styles, alongside a selection of townhomes. These residences, built between 1996 and 2009, feature high-end finishes and were offered with a variety of floor plans to cater to different preferences, establishing the neighborhood as a premier destination in the Energy Corridor.

Environmental Considerations and Risks

Located in west Houston, Parkway Terrace is in a region that is generally flat and susceptible to heavy rainfall events. The neighborhood is situated near the Addicks and Barker Reservoirs and is adjacent to George Bush Park, which acts as a natural floodplain. The community's infrastructure, including its 11 man-made lakes, is designed to manage water within the subdivision. However, prospective buyers should conduct thorough due diligence regarding flood risk. It is advisable to check FEMA flood maps for the specific property address and inquire about the property's flood history. Additionally, understanding the role of the Harris County Flood Control District, one of the taxing entities for the neighborhood, can provide insight into regional flood mitigation efforts. Learning how to avoid Houston homes with flooding history is a critical step for any buyer in the Houston area.

For a personalized consultation or to explore available homes in Parkway Terrace, connect with the Houston Properties Team. Contact Paige Martin at 713.425.4194 or email [email protected] to get expert guidance on your real estate journey.

“I highly recommend Courtney from the Houston Properties Team for reliable real estate services! She was professional, knowledgeable, and always available to answer any questions I had throughout the process. Courtney went above and beyond to ensure that my home was marketed effectively and sold quickly. No question that I'd work with Courtney and her team again in the future. Thank you!” - Dora Williams (Google Review)