2236 Par Ln · Richmond, TX 77469

$170,000

3 bd · 2.0 ba · 2,038 sqft · Townhouse public records · 8 Days on market

Built 1975 1,782 sqft lot $83/sqft · 45% below area Est $311k · 45% under $40/mo HOA · 2% of rent ↓ 21% since listing

---

Why this score? — see what drove the B 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +8.7/10.0
• Schools +4.6/10.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity is knocking with this spacious 4 bed, 2.5 bath townhome full of character and potential! Featuring soaring high ceilings, exposed brick, a cozy brick fireplace, sun-filled living spaces, and a bright sunroom, this home just needs a little TLC to truly shine. All bedrooms offer walk-in closets, plus major updates include 2 AC units replaced in 2023. Per previous sellers, the composition roof was replaced in 2018 and the flat roof area in 2020. Step outside to a great back deck with no back neighbors, overlooking the greenbelt with a park just across the way! Tons of sunlight, tons of opportunity, and tons of potential in a fantastic location! Sold AS IS.

Key facts

• Exposed brick
• Brick fireplace
• Walk-in closets

Tags

• HIGH CEILINGS
• EXPOSED BRICK
• BRICK FIREPLACE
• SUN-FILLED LIVING SPACES
• BRIGHT SUNROOM
• WALK-IN CLOSETS

Property features AI

Finance

• HOA & community: Golfcrest Association with a $40 monthly fee covering common areas

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Residential property; Two stories; Built in 1975; Slab foundation
• Construction: Brick and cement siding construction; Composition roof; Slab foundation; Built in 1975
• Exterior features: Composition roof; Brick and cement siding exterior; Lot approximately 1,782 square feet

Interior

• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Two fireplaces; Four total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath townhouse listed at $170k.

Deal economics

• At list price, monthly cash flow is $448 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 9.5% vs local median 2.6% in Richmond — 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 70/100 on livability (#363 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B+; Watch: schools C-, crime C-, amenities F.
• Lamar CISD (suburban): math 50% / reading 53% proficiency, ranked #116 of 826 in TX (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents soft (-1.8%/yr); 1332 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 12,093 units permitted in Fort Bend County in 2024 (815 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Fort Bend County population projected at +75% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 3y 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: property tax is 2.8% of price.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $170,000

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.37% ✓
• Cap rate: 9.45%
• Cash-on-cash: 11.28%
• DSCR: 1.50
• GRM: 6.1

CMA / ARV

• ARV (median comp): $311,338
• List price: $170,000
• Delta: -45.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2242 Par Ln	0.02mi	3/2.5	1,772 (-13%)	13mo	$180,000	$102	64

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: -3.3%
• Equity multiple: 0.88×
• Total profit: $-5,708
• Equity at exit: $25,348

10-year hold

• IRR: 2.1%
• Equity multiple: 1.13×
• Total profit: $6,008
• Equity at exit: $14,698

Cash invested: $47,600 (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 77469

• Home prices YoY: -25.1%
• Rents YoY: -1.8%
• Active inventory: 1332
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $2,333 high
• Mortgage (P&I): −$891
• Tax from tax record: −$393 /mo · $4,717/yr
• Insurance: −$71
• HOA: −$40
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $448

Break-even live

Break-even rent $1,766

Max offer price $170,000

Occupancy floor 76%

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23643 Gibson Forest Dr Richmond, TX	4.0	2.5	1753	$2,499	$1.43	17d	1	0.79mi
1803 Cypress Dr Richmond, TX	3.0	2.0	1601	$1,875	$1.17	24d	1	0.93mi
722 Riveredge Dr Richmond, TX	3.0	3.0	2488	$2,601	$1.05	44d	1	0.98mi
1308 Wilson Dr Rosenberg, TX	3.0	2.0	1835	$2,171	$1.18	44d	1	1.15mi
7404 Town Center Blvd Rosenberg, TX	3.0	1.0–2.0	1078	$1,989	$1.85	3d	24	1.15mi
3101 Vista Dr Rosenberg, TX	1.0–3.0	1.0–2.5	1080	$2,053	$1.90	3d	19	1.17mi

HOA detail

• Monthly dues: $40 · $480/yr

Listing history 36 events

1. 2026-06-18
   days on market $170,000 Active 8 DOM
2. 2026-06-17
   days on market $170,000 Active 7 DOM
3. 2026-06-16
   days on market $170,000 Active 6 DOM
4. 2026-06-15
   days on market $170,000 Active 5 DOM
5. 2026-06-13
   days on marketlisting id $170,000 Active 3 DOM
6. 2026-06-08
   statusdays on market $170,000 Active 31 DOM
7. 2026-06-07
   statusdays on market $170,000 Active Under Contract 30 DOM
8. 2026-06-04
   days on market $170,000 Active 27 DOM
9. 2026-06-03
   days on market $170,000 Active 26 DOM
10. 2026-06-02
    days on market $170,000 Active 25 DOM
11. 2026-06-01
    days on market $170,000 Active 24 DOM
12. 2026-05-31
    days on market $170,000 Active 23 DOM
13. 2026-05-08
    listed $170,000 Active 673-char remark
14. 2026-01-28
    historical
15. 2025-07-09
    price $210,000
16. 2025-07-09
    status Active
17. 2025-06-24
    status Pending
18. 2025-06-23
    status Pending
19. 2025-06-10
    price $211,000
20. 2025-03-19
    price $150,000
21. 2025-03-18
    listed $150,000 Active
22. 2025-03-18
    historical
23. 2024-09-20
    listed $209,990 Active
24. 2024-09-20
    historical
25. 2024-08-20
    price $215,000
26. 2024-08-07
    listed $219,000 Active
27. 2024-08-07
    historical
28. 2024-07-22
    listed $229,990 Active
29. 2023-06-01
    soldstatus
30. 2023-05-31
    soldstatus Sold
31. 2023-04-28
    status Pending
32. 2023-04-24
    status Option Pending
33. 2023-04-21
    status Active
34. 2023-04-17
    status Option Pending
35. 2023-04-07
    listed $215,000 Active
36. 2022-03-18
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $4,717 · $393/mo
• Projected year-2 tax: $4,717 · $393/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X · 72% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 23 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: $27,995
• − Mortgage interest: −$9,523
• − Property taxes: −$4,717
• − Insurance: −$850
• − Repairs & maintenance: −$2,240
• − Management: −$2,240
• − HOA: −$480
• − Depreciation: −$4,945
• Taxable income: $3,000
• Est. tax owed @ 24.0%: −$720
• After-tax cash flow: $4,651/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.

Schools (NCES district)

• District: Lamar CISD
• NCES district ID: 4826580
• Math proficiency: 50% ▼ -12.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $75,213
• Composite: 46.43/100
• National rank: #2452
• State rank: #116 of 826 in TX

Livability — Richmond

• Score: 70/100
• State rank: #363
• US rank: #7780

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richmond, TX
• County: Fort Bend County · 836,777 people
• City population: 158,237
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 69,826
• Household income: $102,125
• Rent vs Own: 20.6% rent · 79.4% own
• Severe rent burden: 1292.0

Population outlook (Fort Bend County) Hauer SSP2

• Today (2025): 1,004,526 people
• By 2030: 1,153,104 · +14.8%
• By 2040: 1,453,718 · +44.7%
• By 2050: 1,753,781 · +74.6%
• By 2075: 2,455,772 · +144.5%
• By 2100: 2,930,528 · +191.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.76)
• Race & ethnicity: Hispanic / Latino 29% White 27% Black 25% Two or more races 15% Asian 15%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Romanian 1% Lithuanian 1%
• Foreign-born: 24% · Canada, Vietnam, China
• Languages at home: 65% English-only · Spanish 17% Other Indo-European 7% Other Asian/Pacific 2%

Political lean MEDSL · Fort Bend

• 2024 margin: Toss-up / Even · D 49.5% · R 47.9% · Other 2.6%
• 2008→2024 swing: +4.0pp toward D · 2008: -2.4pp · 2024: 1.6pp
• All cycles: 2024: D+1.6 2020: D+10.6 2016: D+6.6 2012: R+6.8 2008: R+2.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.66%
• Current HPI: 234.9892
• Rent YoY: ▼ -1.81%
• 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

-20.9% since first listed

28 events — show timeline

• 2026-06-10 Listed $170,000 HARMLS
• 2026-06-08 Relisted — HARMLS
• 2026-06-07 Listing Removed — HARMLS
• 2026-06-04 Contingent — HARMLS
• 2026-05-08 Listed $170,000 HARMLS
• 2026-01-28 Listing Removed — HARMLS
• 2025-07-09 Price Changed $210,000 HARMLS
• 2025-07-09 Relisted — HARMLS
• 2025-06-24 Pending — HARMLS
• 2025-06-23 Pending — HARMLS
• 2025-06-10 Price Changed $211,000 HARMLS
• 2025-03-19 Price Changed $150,000 HARMLS
• 2025-03-18 Listing Removed — HARMLS
• 2025-03-18 Listed $150,000 HARMLS
• 2024-09-20 Listing Removed — HARMLS
• 2024-09-20 Listed $209,990 HARMLS
• 2024-08-20 Price Changed $215,000 HARMLS
• 2024-08-07 Listing Removed — HARMLS
• 2024-08-07 Listed $219,000 HARMLS
• 2024-07-22 Listed $229,990 HARMLS
• 2023-06-01 Sold (Public Records) — Public Records
• 2023-05-31 Sold (MLS) — HARMLS
• 2023-04-28 Pending — HARMLS
• 2023-04-24 Pending — HARMLS
• 2023-04-21 Relisted — HARMLS
• 2023-04-17 Pending — HARMLS
• 2023-04-07 Listed $215,000 HARMLS
• 2022-03-18 Sold (Public Records) — Public Records

Property tax history

+4.9%/yr

Latest (2025): $4,717 · -4.5% YoY. Source: county tax records.