702 E Park St · Sugar Land, TX 77498

$229,999

3 bd · 2.0 ba · 1,200 sqft · SingleFamily public records · 104 Days on market

Built 1964 8,568 sqft lot $192/sqft · at area comps Est $232k · at est. ↓ 2% 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 +14.1/30.0
• ARV discount +7.9/15.0
• Schools +4.5/10.0
• DSCR +4.3/10.0
• Livability +4.0/5.0
• 1% rule +3.8/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

NEW LISTING on OYSTER CREEK! We just listed this great home that is located along the peaceful banks of Oyster Creek, this inviting home offers scenic WATERFRONT VIEWS! It features MANY RECENT IMPROVEMENTS including fresh interior paint, foundation repairs, and upgraded kitchen and bathrooms, making it move-in ready with room to make it your own. Nestled in the quiet MAYFIELD PARK neighborhood—surrounded by parks, trails, and lakes—you'll enjoy both nature and convenience. With easy access to Highway 90 and State Highway 6, everything you need is just minutes away. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

Key facts

• Waterfront views
• Upgraded kitchen
• Parks trails lakes

Tags

• WATERFRONT VIEWS
• MANY RECENT IMPROVEMENTS
• UPGRADED KITCHEN
• UPGRADED BATHROOMS
• MAYFIELD PARK NEIGHBORHOOD
• PARKS TRAILS LAKES

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $33 ($394/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $202k (12.3% below list).
• Recommended offer: $202k (12.3% below list) — sets the bar for 1% rule.
• Cap rate 6.5% vs local median 2.6% in Sugar Land — 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 80/100 on livability (#38 in TX, #1,758 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: cost of living D, commute 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.
• Market conditions: Rents flat; 277 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 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 $2k of loan paydown is wiped out by about $7k 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

• It's been on market 104 days — a 9% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $201,666 (12.3% below list)

Questions for the listing agent

1. It's been on market 104 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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?
7. 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.
8. 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.
9. 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: 0.88% ✗
• Cap rate: 6.46%
• Cash-on-cash: 0.61%
• DSCR: 1.03
• GRM: 9.5

CMA / ARV

• ARV (median comp): $232,171
• List price: $229,999
• Delta: -0.94%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
135 Avenue F	0.13mi	3/2.0	1,272 (+6%)	17mo	$205,000	$161	70
607 Lakeview Dr	0.66mi	2/2.0 (-1)	1,226 (+2%)	5mo	$325,000	$265	56
715 West Park St	0.18mi	2/1.0 (-1)	1,135 (-5%)	24mo	$240,000	$211	54
223 Brooks St	0.71mi	2/1.5 (-1)	1,230 (+2%)	15mo	$499,900	$406	43

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 · 0.61% rent growth · sell at horizon

5-year hold

• IRR: -18.0%
• Equity multiple: 0.38×
• Total profit: $-39,900
• Equity at exit: $34,294

10-year hold

• IRR: -15.5%
• Equity multiple: 0.22×
• Total profit: $-50,526
• Equity at exit: $19,886

Cash invested: $64,400 (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 77498

• Home prices YoY: -10.6%
• Rents YoY: 0.6%
• Active inventory: 277
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $2,017 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$258 /mo · $3,100/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$423
• Net cashflow: $33

Break-even live

Break-even rent $1,975

Max offer price $229,999

Occupancy floor 93%

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
856 Imperial Blvd Sugar Land, TX	2.0	2.0	1044	$1,764	$1.69	43d	1	0.58mi
850 Imperial Blvd Sugar Land, TX	1.0–2.0	1.0–2.0	996	$2,840	$2.85	3d	8	0.60mi
2 Stadium Dr Sugar Land, TX	1.0–2.0	1.0–2.0	938	$2,362	$2.52	2d	17	0.64mi
12106 Addicks-Howell Rd Sugar Land, TX	2.0	2.0	1051	$1,590	$1.51	43d	1	1.37mi
12100 S Texas 6 Unit 12133 Sugar Land, TX	3.0	2.0	1300	$2,329	$1.79	10d	1	1.37mi
12100 S Texas 6 Unit 12157 Sugar Land, TX	2.0	2.0	903	$1,349	$1.49	10d	1	1.37mi
12100 S Texas 6 Unit 2538 Sugar Land, TX	2.0	2.0	1286	$1,652	$1.28	43d	1	1.37mi
12100 S Texas 6 Unit 2188 Sugar Land, TX	2.0	2.0	1298	$1,556	$1.20	43d	1	1.37mi
12100 S Texas 6 Unit 2162 Sugar Land, TX	2.0	2.0	903	$1,325	$1.47	5d	1	1.37mi
12100 S Texas 6 #3165 Sugar Land, TX	3.0	2.0	1300	$2,297	$1.77	2d	1	1.37mi
12100 S Texas 6 #2165 Sugar Land, TX	2.0	2.0	903	$1,317	$1.46	2d	1	1.37mi
12100 S Texas 6 #2047 Sugar Land, TX	2.0	2.0	903	$1,360	$1.51	11d	1	1.37mi

Listing history 16 events

1. 2026-06-18
   days on market $229,999 Active 104 DOM
2. 2026-06-17
   days on market $229,999 Active 103 DOM
3. 2026-06-16
   days on market $229,999 Active 102 DOM
4. 2026-06-15
   days on market $229,999 Active 101 DOM
5. 2026-06-13
   days on market $229,999 Active 99 DOM
6. 2026-06-09
   days on market $229,999 Active 95 DOM
7. 2026-06-07
   days on market $229,999 Active 93 DOM
8. 2026-06-04
   days on market $229,999 Active 90 DOM
9. 2026-06-03
   days on market $229,999 Active 89 DOM
10. 2026-06-02
    days on market $229,999 Active 88 DOM
11. 2026-06-01
    days on market $229,999 Active 87 DOM
12. 2026-05-31
    days on market $229,999 Active 86 DOM
13. 2026-03-06
    historical

    Show marketing remark (808 chars)

    NEW LISTING on OYSTER CREEK! We just listed this great home that is located along the peaceful banks of Oyster Creek, this inviting home offers scenic WATERFRONT VIEWS! It features MANY RECENT IMPROVEMENTS including fresh interior paint, foundation repairs, and upgraded kitchen and bathrooms, making it move-in ready with room to make it your own. Nestled in the quiet MAYFIELD PARK neighborhood—surrounded by parks, trails, and lakes—you'll enjoy both nature and convenience. With easy access to Highway 90 and State Highway 6, everything you need is just minutes away. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

14. 2026-03-06
    listed $229,999 Active 808-char remark

    Show marketing remark (808 chars)

    NEW LISTING on OYSTER CREEK! We just listed this great home that is located along the peaceful banks of Oyster Creek, this inviting home offers scenic WATERFRONT VIEWS! It features MANY RECENT IMPROVEMENTS including fresh interior paint, foundation repairs, and upgraded kitchen and bathrooms, making it move-in ready with room to make it your own. Nestled in the quiet MAYFIELD PARK neighborhood—surrounded by parks, trails, and lakes—you'll enjoy both nature and convenience. With easy access to Highway 90 and State Highway 6, everything you need is just minutes away. WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

15. 2026-02-17
    price $229,999
16. 2025-10-20
    listed $234,999 Active

ⓘ 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: $3,100 · $258/mo
• Projected year-2 tax: $4,209 · $351/mo
• Expected delta: +$1,109/yr (+$92/mo · 35.8%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 21 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $24,200
• − Mortgage interest: −$12,884
• − Property taxes: −$3,100
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,936
• − Management: −$1,936
• − Depreciation: −$6,691
• Taxable loss: −$3,496
• Est. tax savings @ 24.0%: +$839
• After-tax cash flow: $1,234/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 — Sugar Land

• Score: 80/100
• State rank: #38
• US rank: #1758

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sugar Land, TX
• County: Fort Bend County · 836,777 people
• City population: 168,209
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 52,806
• Household income: $100,950
• Rent vs Own: 29.4% rent · 70.6% own
• Severe rent burden: 1252.0

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: Asian 28% White 27% Hispanic / Latino 22% Black 20% Two or more races 9%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Italian 1% Ukrainian 1% Arab 1%
• Foreign-born: 33% · Canada, Vietnam, China
• Languages at home: 47% English-only · Spanish 18% Other Indo-European 10% Vietnamese 7%

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: ▼ -29.01%
• Current HPI: 245.1437
• Rent YoY: ▲ 0.61%
• 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

-2.1% since first listed

4 events — show timeline

• 2026-03-06 Listed $229,999 HARMLS
• 2026-03-06 Listing Removed — HARMLS
• 2026-02-17 Price Changed $229,999 HARMLS
• 2025-10-20 Listed $234,999 HARMLS

Property tax history

+5.9%/yr

Latest (2025): $3,100 · -15.5% YoY. Source: county tax records.