7402 Alabonson Rd #506 · Houston, TX 77088

$53,000

1 bd · 1.0 ba · 663 sqft · Condo public records · 64 Days on market

Built 1984 $80/sqft · 15% below area Est $62k · 15% under $410/mo HOA · 42% of rent ↓ 12% 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).

• ARV discount +14.3/15.0
• 1% rule +10.0/10.0
• Cash flow +7.1/30.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.5/10.0
• DSCR +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home! This property has been updated with fresh paint throughout. The kitchen is beautifully lit with new granite countertops and freshly painted cabinets. Located in the newest part of the complex as soon as you drive in, this unit features a cozy fireplace, wood floors and a quaint balcony that’s accessible from the bedroom. Come check out your new home today!

Key facts

• Wood floors
• Cozy fireplace
• Granite countertops

Tags

• GRANITE COUNTERTOPS
• COZY FIREPLACE
• WOOD FLOORS
• QUAINT BALCONY

Property features AI

Finance

• Other: Disclosures provided (Municipal Utility District Disclosure, Seller Disclosure)
• Financial info: Lease considered
• HOA & community: Managed by Castlerock Management; Monthly association fee of $410 covering common areas, grounds maintenance, structure maintenance, water and sewer

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property; Single-story; Slab foundation; Built in 1984
• Construction: Brick construction
• Exterior features: Composition roof

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Refrigerator
• Bedrooms: Primary bedroom (first floor, 12 x 12)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Granite counters

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $53k.

Deal economics

• At list price, monthly cash flow is $-76 ($-906/yr) — negative.
• To cash-flow at today's rent, offer at most $40k (25.2% below list).
• Meets the 1% rule at list price ($975 rent vs $53k).
• Recommended offer: $40k (25.2% below list) — sets the bar for cash-flow.
• Cap rate 4.6% 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.
• Aldine ISD (suburban): math 16% / reading 21% proficiency, ranked #790 of 826 in TX (top 96%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 79% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Smith El (math 7% / reading 10%, grade F, #4,298 of 4,322 statewide, top 99%, 555 students, 94% FRL); Hoffman Middle (math 17% / reading 24%, grade F, #1,407 of 1,662 statewide, top 86%, 637 students, 91% FRL); Aldine H S (math 15% / reading 20%, grade F, #1,451 of 1,632 statewide, top 89%, 2,663 students, 94% FRL).
• Market conditions: Rents soft (-1.0%/yr); 471 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $366 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 64 days — a 6% lower offer ($50k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 2y 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 3.1% of price; HOA is 42% 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 $39,659 (25.2% 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 64 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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?
11. 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.
12. 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.
13. 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: 1.84% ✓
• Cap rate: 4.58%
• Cash-on-cash: -6.11%
• DSCR: 0.73
• GRM: 4.5

CMA / ARV

• ARV (median comp): $62,355
• List price: $53,000
• Delta: -15.00%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -35.4%
• Equity multiple: -0.07×
• Total profit: $-15,946
• Equity at exit: $7,902

10-year hold

• IRR: —
• Equity multiple: -1.01×
• Total profit: $-29,863
• Equity at exit: $4,582

Cash invested: $14,840 (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 77088

• Home prices YoY: -23.2%
• Rents YoY: -1.0%
• Active inventory: 471
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $975 high
• Mortgage (P&I): −$278
• Tax from tax record: −$136 /mo · $1,628/yr
• Insurance: −$22
• HOA: −$410
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $-76

Break-even live

Break-even rent $1,070

Max offer price $39,659

Occupancy floor —

Sensitivity live

Price	-10% $-46	-5% $-61	+0% $-76	+5% $-91	+10% $-106
Rent	-10% $-153	-5% $-114	+0% $-76	+5% $-37	+10% $1
Rate	-1.0pp $-49	-0.5pp $-62	base $-76	+0.5pp $-89	+1.0pp $-103

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: $13,250
• Closing costs: $1,590
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7352 Alabonson Rd Houston, TX	1.0	1.0	664	$800	$1.20	45d	1	0.07mi
7302 Alabonson Rd Houston, TX	1.0–2.0	1.0–2.0	823	$650	$0.79	22d	49	0.12mi
5856 W Gulf Bank Rd Houston, TX	1.0	1.0	692	$745	$1.08	45d	1	0.59mi
7058 W Gulf Bank Rd Houston, TX	2.0	2.0–2.5	870	$1,364	$1.57	5d	3	0.82mi
5306 W Gulf Bank Rd Unit 1204 Houston, TX	1.0	1.0	611	$805	$1.32	45d	1	1.10mi
5306 W Gulf Bank Rd Unit 1204 Houston, TX	1.0	1.0	611	$805	$1.32	24d	1	1.10mi
5300 W Gulf Bank Rd Houston, TX	1.0–2.0	1.0–2.0	762	$695	$0.91	24d	1	1.19mi
5300 W Gulf Bank Rd Houston, TX	1.0–2.0	1.0–2.0	762	$795	$1.04	45d	1	1.19mi

HOA detail condo

• Monthly dues: $410 · $4,920/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 44 events

1. 2026-06-21
   days on market $53,000 Active 64 DOM
2. 2026-06-18
   days on market $53,000 Active 61 DOM
3. 2026-06-17
   days on market $53,000 Active 60 DOM
4. 2026-06-16
   days on market $53,000 Active 59 DOM
5. 2026-06-15
   days on market $53,000 Active 58 DOM
6. 2026-06-13
   days on market $53,000 Active 56 DOM
7. 2026-06-13
   days on market $53,000 Active 55 DOM
8. 2026-06-09
   days on market $53,000 Active 52 DOM
9. 2026-06-08
   days on market $53,000 Active 51 DOM
10. 2026-06-07
    days on market $53,000 Active 50 DOM
11. 2026-06-04
    days on market $53,000 Active 47 DOM
12. 2026-06-03
    days on market $53,000 Active 46 DOM
13. 2026-06-02
    days on market $53,000 Active 45 DOM
14. 2026-06-01
    days on market $53,000 Active 44 DOM
15. 2026-05-31
    days on market $53,000 Active 43 DOM
16. 2026-04-18
    historical
17. 2026-04-18
    listed $53,000 Active 378-char remark
18. 2026-02-15
    listed $940
19. 2026-01-07
    listed $53,500 Active
20. 2026-01-01
    historical
21. 2025-12-16
    historical $940
22. 2025-10-09
    listed $940
23. 2025-10-08
    historical $940
24. 2025-10-05
    listed $63,000 Active
25. 2025-09-23
    listed $940
26. 2025-09-13
    historical
27. 2025-08-15
    status Active
28. 2025-08-15
    price $63,000
29. 2025-08-03
    historical
30. 2025-04-25
    price $66,000
31. 2025-03-27
    price $67,500
32. 2025-03-12
    price $68,000
33. 2025-03-12
    status Active
34. 2025-03-03
    historical
35. 2024-12-27
    listed $68,900 Active
36. 2024-12-12
    historical
37. 2024-03-27
    historical
38. 2024-03-26
    price $65,000
39. 2024-03-26
    status Active
40. 2024-02-24
    status Pending
41. 2024-02-23
    historical
42. 2024-02-23
    listed $60,000 Active
43. 2014-12-12
    soldstatus
44. 1988-01-02
    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: $1,628 · $136/mo
• Projected year-2 tax: $1,628 · $136/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 4/10 Moderate FEMA zone X (shaded) · 21% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,699
• − Mortgage interest: −$2,969
• − Property taxes: −$1,628
• − Insurance: −$265
• − Repairs & maintenance: −$936
• − Management: −$936
• − HOA: −$4,920
• − Depreciation: −$1,542
• Taxable loss: −$1,497
• Est. tax savings @ 24.0%: +$359
• After-tax cash flow: $-547/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: Aldine ISD
• NCES district ID: 4807710
• Math proficiency: 16% ▼ -23.00%
• Reading proficiency: 21% ▼ -11.00%
• Median HH income: $37,081
• Composite: 15.42/100
• National rank: #9317
• State rank: #790 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

• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 57,047
• Household income: $54,411
• Rent vs Own: 38.1% rent · 61.9% own
• Severe rent burden: 2294.0

Population outlook (Harris County) Hauer SSP2

• Today (2025): 5,571,493 people
• By 2030: 6,089,821 · +9.3%
• By 2040: 7,142,806 · +28.2%
• By 2050: 8,185,864 · +46.9%
• By 2075: 10,574,329 · +89.8%
• By 2100: 12,109,958 · +117.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: Hispanic / Latino 52% Black 37% Two or more races 18% White 6% Asian 4%
• Hispanic origin (detail): Mexican 36%
• Common ancestry: Lithuanian 1%
• Foreign-born: 25% · Canada, Vietnam, China
• Languages at home: 49% English-only · Spanish 47% Vietnamese 3%

Political lean MEDSL · Harris

• 2024 margin: Lean D (+5.5) · D 52.0% · R 46.4% · Other 1.6%
• 2008→2024 swing: +3.9pp toward D · 2008: 1.6pp · 2024: 5.5pp
• All cycles: 2024: D+5.5 2020: D+13.3 2016: D+12.4 2012: D+0.1 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -98.37%
• Current HPI: 325.0499
• Rent YoY: ▼ -1.01%
• 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

-11.7% since first listed

30 events — show timeline

• 2026-06-22 Rental Removed $940 HARMLS
• 2026-04-18 Listed $53,000 HARMLS
• 2026-04-18 Listing Removed — HARMLS
• 2026-02-15 Listed for Rent $940 HARMLS
• 2026-01-07 Listed $53,500 HARMLS
• 2026-01-01 Listing Removed — HARMLS
• 2025-12-16 Rental Removed $940 HARMLS
• 2025-10-09 Listed for Rent $940 HARMLS
• 2025-10-08 Rental Removed $940 HARMLS
• 2025-10-05 Listed $63,000 HARMLS
• 2025-09-23 Listed for Rent $940 HARMLS
• 2025-09-13 Listing Removed — HARMLS
• 2025-08-15 Relisted — HARMLS
• 2025-08-15 Price Changed $63,000 HARMLS
• 2025-08-03 Listing Removed — HARMLS
• 2025-04-25 Price Changed $66,000 HARMLS
• 2025-03-27 Price Changed $67,500 HARMLS
• 2025-03-12 Price Changed $68,000 HARMLS
• 2025-03-12 Relisted — HARMLS
• 2025-03-03 Listing Removed — HARMLS
• 2024-12-27 Listed $68,900 HARMLS
• 2024-12-12 Coming Soon — HARMLS
• 2024-03-27 Listing Removed — HARMLS
• 2024-03-26 Price Changed $65,000 HARMLS
• 2024-03-26 Relisted — HARMLS
• 2024-02-24 Pending — HARMLS
• 2024-02-23 Listed $60,000 HARMLS
• 2024-02-23 Listing Removed — HARMLS
• 2014-12-12 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+7.7%/yr

Latest (2025): $1,628 · +9.7% YoY. Source: county tax records.