7435 Neal Ridge Dr · Houston, TX 77489

$274,990

3 bd · 2.0 ba · 2,437 sqft · SingleFamily public records · 61 Days on market

Built 1981 6,708 sqft lot $113/sqft · 11% above area Est $248k · 11% over $15/mo HOA · 1% of rent ↓ 10% 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).

• Cash flow +12.0/30.0
• Appreciation +4.7/10.0
• Schools +4.5/10.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• 1% rule +3.1/10.0
• ARV discount +2.6/15.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0

Listing remarks

Fully remodeled and move-in ready, this beautifully updated Missouri City home features a modern open-concept design with high-end finishes throughout. Inside you’ll find brand-new flooring, recessed lighting, and a bright, contemporary feel throughout the living spaces. The stunning kitchen offers quartz countertops, a large island and gas cooktop, new cabinetry, stainless steel appliances, and a sleek vent hood—perfect for entertaining. Bathrooms feature updated tiled tub and shower areas along with stylish modern vanities and black fixtures. A rare opportunity to own a thoughtfully upgraded home in a desirable Missouri City location.

Key facts

• Quartz countertops
• Brand-new flooring
• High-end finishes

Tags

• MODERN OPEN-CONCEPT DESIGN
• HIGH-END FINISHES
• BRAND-NEW FLOORING
• RECESSED LIGHTING
• STUNNING KITCHEN
• QUARTZ COUNTERTOPS

Property features AI

Finance

• Other: Seller disclosure available
• HOA & community: Part of Briargate CIA association; Annual association fee of $177

Exterior

• Parking: Attached garage with 2 car spaces
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 1981; Slab foundation
• Construction: Brick and wood siding exterior; Composition roof
• Exterior features: Located in a subdivision

Interior

• Bedrooms: Primary bedroom on the first floor (approx. 15x15); Three additional bedrooms on the second floor (approx. 15x12, 12x12, 12x12)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: One fireplace; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $-64 ($-764/yr) — negative.
• To cash-flow at today's rent, offer at most $264k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (19.4% below list).
• Recommended offer: $222k (19.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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.
• Fort Bend ISD (suburban): math 44% / reading 53% proficiency, ranked #140 of 826 in TX (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Blue Ridge El (math 8% / reading 17%, grade F, #4,180 of 4,322 statewide, top 97%, 263 students, 89% FRL); Christa Mcauliffe Middle (math 9% / reading 20%, grade F, #1,583 of 1,662 statewide, top 96%, 835 students, 94% FRL); Fort Bend Co Alter (26 students, 0% FRL) — zoned schools average 61% FRL vs 35% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 13% at this address vs 48% district-wide (-35 pts) — the specific schools serving this property underperform the Fort Bend ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 188 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 12,093 units permitted in Fort Bend County in 2024 (815 in 5+ unit buildings).
• This rent runs 36% of the median local income ($75k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $387 of equity ($2k loan paydown + $-2k appreciation (-0.6% local appreciation)).
• Fort Bend County population projected at +75% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $15k (5%) 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; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $221,589 (19.4% 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 61 days. Have you received any prior offers? Is the seller open to a 19% 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: 0.81% ✗
• Cap rate: 6.01%
• Cash-on-cash: -0.99%
• DSCR: 0.96
• GRM: 10.3

CMA / ARV

• ARV (median comp): $247,900
• List price: $274,990
• Delta: 10.93%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2223 Lawn Crest Dr	0.53mi	4/2.5 (+1)	2,346 (-4%)	14mo	$295,000	$126	50
7022 Castleview Ln	0.62mi	4/2.5 (+1)	2,240 (-8%)	4mo	$250,000	$112	48
6835 Laughlin Dr	0.61mi	4/2.5 (+1)	2,660 (+9%)	2mo	$265,000	$100	48
6903 Castleview Ln	0.69mi	4/2.0 (+1)	2,448 (+0%)	23mo	$319,000	$130	43
7227 Castleview Lane Ln	0.45mi	4/2.5 (+1)	2,240 (-8%)	19mo	$199,000	$89	43
6706 Trigate Dr	0.75mi	4/3.5 (+1)	2,640 (+8%)	3mo	$299,900	$114	38
2038 Diamond Crest Dr	0.68mi	3/2.5	2,105 (-14%)	14mo	$299,990	$143	32
7319 Frostview Ln	0.46mi	4/3.0 (+1)	2,126 (-13%)	20mo	$329,900	$155	32
6906 Mccullum Rd	0.61mi	4/2.0 (+1)	2,129 (-13%)	17mo	$240,000	$113	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-0.55% appreciation · 0.34% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.68×
• Total profit: $-24,942
• Equity at exit: $72,354

10-year hold

• IRR: -3.0%
• Equity multiple: 0.72×
• Total profit: $-21,186
• Equity at exit: $81,198

Cash invested: $76,997 (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 77489

• Home prices YoY: -0.2%
• Rents YoY: 0.3%
• Active inventory: 188
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,216 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$243 /mo · $2,911/yr
• Insurance: −$115
• HOA: −$15
• Vacancy / Maint / Mgmt: −$465
• Net cashflow: $-64

Break-even live

Break-even rent $2,297

Max offer price $263,739

Occupancy floor 98%

Sensitivity live

Price	-10% $92	-5% $14	+0% $-64	+5% $-142	+10% $-219
Rent	-10% $-239	-5% $-151	+0% $-64	+5% $24	+10% $111
Rate	-1.0pp $75	-0.5pp $6	base $-64	+0.5pp $-135	+1.0pp $-207

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: $68,748
• Closing costs: $8,250
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
712 Beechbend Dr Missouri City, TX	4.0	2.5	2245	$2,250	$1.00	22d	1	0.88mi
16310 Setter Ct Missouri City, TX	3.0	2.0	1672	$1,700	$1.02	45d	1	0.89mi
6610 Rowell Ct Missouri City, TX	3.0	2.0	1753	$1,996	$1.14	1d	1	0.93mi
16322 Petaluma Dr Houston, TX	3.0	2.5	1876	$1,770	$0.94	17d	1	0.97mi
15113 Chasehill Dr Missouri City, TX	4.0	2.5	2286	$2,350	$1.03	45d	1	0.98mi
2222 Mountshire Dr Missouri City, TX	4.0	2.5	2278	$2,700	$1.19	22d	1	1.08mi
507 Whippoorwill Dr Missouri City, TX	3.0	2.0	1970	$1,925	$0.98	45d	1	1.11mi
6406 Summer Ridge Dr Missouri City, TX	3.0	2.0	1624	$1,958	$1.21	4d	1	1.14mi

HOA detail

• Monthly dues: $15 · $180/yr
• Likely covers: gas

Listing history 20 events

1. 2026-06-21
   days on market $274,990 Active 61 DOM
2. 2026-06-18
   days on market $274,990 Active 58 DOM
3. 2026-06-17
   days on market $274,990 Active 57 DOM
4. 2026-06-16
   days on market $274,990 Active 56 DOM
5. 2026-06-15
   days on market $274,990 Active 55 DOM
6. 2026-06-13
   days on market $274,990 Active 53 DOM
7. 2026-06-09
   days on market $274,990 Active 49 DOM
8. 2026-06-07
   days on market $274,990 Active 47 DOM
9. 2026-06-04
   days on market $274,990 Active 44 DOM
10. 2026-06-03
    days on market $274,990 Active 43 DOM
11. 2026-06-02
    days on market $274,990 Active 42 DOM
12. 2026-06-01
    days on market $274,990 Active 41 DOM
13. 2026-05-31
    days on market $274,990 Active 40 DOM
14. 2026-04-26
    price $274,990 656-char remark
15. 2026-04-21
    listed $289,900 Active 656-char remark
16. 2026-04-21
    historical
17. 2026-04-01
    price $294,900
18. 2026-03-19
    price $299,900
19. 2026-03-07
    listed $305,000 Active
20. 2025-12-11
    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: $2,911 · $243/mo
• Projected year-2 tax: $5,032 · $419/mo
• Expected delta: +$2,121/yr (+$177/mo · 72.9%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,591
• − Mortgage interest: −$15,404
• − Property taxes: −$2,911
• − Insurance: −$1,375
• − Repairs & maintenance: −$2,127
• − Management: −$2,127
• − HOA: −$180
• − Depreciation: −$8,000
• Taxable loss: −$5,533
• Est. tax savings @ 24.0%: +$1,328
• After-tax cash flow: $564/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: Fort Bend ISD
• NCES district ID: 4819650
• Math proficiency: 44% ▼ -15.00%
• Reading proficiency: 53% ▼ -4.00%
• Median HH income: $82,360
• Composite: 44.61/100
• National rank: #2779
• State rank: #140 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

• Census place: Houston, TX
• County: Fort Bend County · 836,777 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 39,292
• Household income: $74,689
• Rent vs Own: 22.9% rent · 77.1% own
• Severe rent burden: 1121.0

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: Majority Black (60%)
• Race & ethnicity: Black 60% Hispanic / Latino 29% Two or more races 13% White 4% Asian 3%
• Hispanic origin (detail): Mexican 17%
• Foreign-born: 16% · Canada, Vietnam
• Languages at home: 73% English-only · Spanish 22% Vietnamese 1% Other Asian/Pacific 1%

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: ▼ -0.55%
• Current HPI: 288.1306
• Rent YoY: ▲ 0.34%
• 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

-9.8% since first listed

7 events — show timeline

• 2026-04-26 Price Changed $274,990 HARMLS
• 2026-04-21 Listing Removed — HARMLS
• 2026-04-21 Listed $289,900 HARMLS
• 2026-04-01 Price Changed $294,900 HARMLS
• 2026-03-19 Price Changed $299,900 HARMLS
• 2026-03-07 Listed $305,000 HARMLS
• 2025-12-11 Sold (Public Records) — Public Records

Property tax history

+1.0%/yr

Latest (2025): $2,911 · +14.0% YoY. Source: county tax records.