Celeb Mansion For Sale

Celebrity preacher tries to sell Beyonce family mansion for millions despite abandoned renovation project

Editor's Note: Houston, the surrounding areas and beyond are loaded with must-have houses and properties for sale in all shapes, sizes and price ranges. In this continuing series, CultureMap snoops through some of the best and gives you the lowdown on what's hot on the market.

A Farnham Park mansion once fit for a queen — make that Beyonce and Solange's mother, fashion designer Tina Knowles — is back on the market as an abandoned renovation project without heating or cooling. The price tag, still a royal figure, is $2,850,000.

A bit of background
Beyonce purchased the two-story, traditional-style manse at 20 Farnham Park Drive in the Memorial Villages for her mother in 2004. In 2012, Martha Turner Properties, as the agency was called at the time, listed the then-8,885 square-foot home for $3.449 million, just days after Tina Knowles re-filed for divorce from her longtime husband (and Bey's dad/former manager) Mathew Knowles.

At the time, Martha Turner told CultureMap that there might be some interest in the new owner once the identity was revealed. The house went for $2.9 million to current owner, pastor and developer Kirbyjon Caldwell.

Walk through
The manse, now recorded at 9,029 square feet according to the Harris County Appraisal District, once featured grand formals with floor-to-ceiling windows, as well as five bedrooms and seven baths. Today, ceilings are skinned and columns are notched. Floors are covered in dust from the incomplete renovation. Work tables stand in the middle of bare rooms. Some window swags do remain.

The house sold for $2.9 million to current owner, pastor and developer Kirbyjon Caldwell.

"The house has been prepped for extensive remodel, presenting a wonderful opportunity for completion in the buyer's own style," the HAR listing notes.

Step outside
The grounds of the 2.6-acre property remain intact, with swimming pool complete with an island, bridges and lush landscaping. Hedges are manicured and stone sidewalks are clear of debris. The expansive lawn gently slopes down to Buffalo Bayou. The mansion sits on a secluded cul-de-sac within this prestigious subdivision offering a 24-hour guarded entrance.

Square footage: 9,029

Asking price: $2,850,000

Listing agent:Mary Elizabeth Hahnfeld, Martha Turner Sotheby's International Realty

The living room at 20 Farnham Park Drive.

On the Market 20 Farnham Park Dr. February 2015

Photo courtesy of © TK Images

The living room at 20 Farnham Park Drive.

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bang for your buck

These are the 6 most affordable ZIP codes for Houston renters

Facebook / City of Bellaire, Texas

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Trying to afford buying a home in Houston is difficult enough with current mortgage rates, and doubly so if you're already paying high rent on an apartment or a house. But there are six Houston ZIP codes where renters can get the most bang for their buck, according to a new study by financial services company CashNetUSA.

To find the most affordable ZIP codes to rent in the U.S., analysts compared median household incomes by ZIP code to the average annual rent costs using the Zillow Observed Rent Index. ZIP codes where the average annual rental costs required the lowest percentage of median household income were considered the "most affordable."

Two Houston-area ZIP codes specifically stood out in CashNetUSA's ranking of the most affordable ZIP codes for renters in America: 77401 in Bellaire (No. 9) and 77094 in the Energy Corridor (No. 12).

According to the study's findings, the average monthly cost of a rental in Bellaire comes out to $2,401.25, and the median annual income of a Bellaire household is $210,577. Analysts then calculated that the annual rent of a home in the Bellaire ZIP code only takes up 13.68 percent of a household's median income, which is the ninth-lowest in the nation.

But as Houstonians know all too well, Bellaire residents aren't exactly struggling to pay their rent, seeing as they live in one of the wealthiest places in America.

Meanwhile in Houston's 77094 ZIP, annual rent costs only represent 13.88 percent of a household's median annual income. The area – which encompasses the Kingsland Estates, Green Trails, Green Trails Oaks, Windsor Park Estates, Windsor Park Lakes, and Barker neighborhoods – has a median household income of over $168,000, and average rent costs add up to $1,944.58, according to the study.

CashNetUSA found the No. 1 most affordable ZIP code for renters nationwide is 66224 in Leawood, Kansas, where annual rent only takes a 10.57 percent cut out of a household's median annual income.

Elsewhere in Texas, San Antonio's 78248 ZIP ranked as the No. 4 most affordable ZIP code for renters in the U.S., and the No. 1 most affordable ZIP code statewide. The North Texas ZIP code 75013 in Allen ranked two spots behind Houston to claim the No. 14 spot nationally.

The most affordable Houston ZIP codes for renters
CashNetUSA further unveiled the five most affordable ZIP codes across major U.S. cities, including in Houston, Austin, and San Antonio.

Following 77094 (which took the No. 1 spot citywide) is 77008 (No. 2), which spans Greater Heights, Houston Heights, Shady Acres, and Lazybrook/Timbergrove. Rent costs in this ZIP code averaged out to $1,856 per month, the report found.

Landing in the No. 3 spot is 77024, which includes four of Houston's historic Memorial Villages, including Hedwig, Bunker Hill, Hunters Creek, and Piney Point. The report said average rent in the area comes out to $1,730 per month, which takes up 16.88 percent of a household's median annual income.

The remaining top two most affordable ZIP codes for Houston renters are located in 77007 (Washington Avenue Coalition/Memorial Park, Rice Military, and Crestwood/Glen Cove) and 77345 in Kingwood, which is about 30 miles north of downtown Houston.