7502 Ley Rd · Houston, TX 77028

$199,900

3 bd · 1.0 ba · 1,270 sqft · SingleFamily public records · 25 Days on market

Built 1950 0.36 ac lot $157/sqft · 13% above area Est $177k · 13% over

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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 +12.9/30.0
• Appreciation +7.6/10.0
• DSCR +3.9/10.0
• 1% rule +3.7/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• ARV discount +1.6/15.0

Listing remarks

LOCATION! LOCATION! LOCATION! This prime 15,492+/- SqFt. corner lot offers endless possibilities to build any number of projects including single family homes, a townhome complex, duplexes or a tiny home community. Offering high visibility frontage on Ley Road, this property is minutes from I-610, US 69, The Hardy Toll Road, I-45 and is within close proximity to The Texas Medical Center, Downtown, shopping areas and dining destinations. The property currently offers a cozy and charming 3 bedroom, 1 bath home with garage allowing you to live or work comfortably while you design your new home or development. The home offers hardwood floors, a family room with French doors leading to a recentl

Key facts

• 0.36 acre lot
• Garage
• Built 1950

Property features AI

Finance

• HOA & community: Community features include curbs

Exterior

• Parking: Attached garage (1 car); Additional parking; Driveway; Electric security gate
• Security: Security gate
• Utilities: Public water; Public sewer
• Home design: Residential property; Faces north
• Construction: Built in 1950; Wood siding; Composition roof; Block foundation
• Exterior features: Deck; Patio; Porch; Private, fully fenced yard; Back yard fencing; Corner lot with side yard; Wooded lot; Concrete road surface

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Free-standing range; Disposal
• Bedrooms: Primary bedroom (First floor) — 19 x 11; Bedroom (First floor) — 12 x 11; Bedroom (First floor) — 9 x 8; Total rooms: 8; Bedrooms possible: 3
• Flooring: Carpet; Tile; Wood
• Bathrooms: 1 full bathroom (First floor) — 8 x 5
• Heating & cooling: Window unit(s) for cooling
• Interior features: Granite counters; Kitchen/family room combo; Tub with shower; Ceiling fans; Ventilation for improved indoor air quality
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility room (First floor) — 6 x 4

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-14 ($-170/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (1.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $174k (12.8% below list).
• Recommended offer: $174k (12.8% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 3.1% 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: schools D, crime F.
• Houston ISD (urban): math 27% / reading 35% proficiency, ranked #593 of 826 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.6%/yr); 353 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• At $1,743/mo this rent would consume 55% of the median local household income ($38k/yr) (locally 1177% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $12k of equity ($1k loan paydown + $10k appreciation (5.2% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.2% appreciation + 0.0% rent growth), your $56k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($197k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask is 13453% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• 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 $174,292 (12.8% 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. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.87% ✗
• Cap rate: 6.21%
• Cash-on-cash: -0.30%
• DSCR: 0.99
• GRM: 9.6

CMA / ARV

• ARV (median comp): $176,725
• List price: $199,900
• Delta: 13.11%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7407 Banyan St	0.35mi	3/2.0	1,300 (+2%)	3mo	$250,000	$192	74
7622 Delavan Dr	0.24mi	3/1.0	1,120 (-12%)	6mo	$132,000	$118	64
7206 Bywood St	0.56mi	3/2.0	1,266 (-0%)	7mo	$230,000	$182	64
7131 S Hall St	0.53mi	3/1.0	1,348 (+6%)	2mo	$110,000	$82	63
7229 Springdale St	0.66mi	3/1.0	1,247 (-2%)	6mo	$195,000	$156	61
7429 Springdale St	0.60mi	3/2.0	1,230 (-3%)	9mo	$190,000	$154	56
7534 Bywood St	0.44mi	3/1.0	1,107 (-13%)	10mo	$179,000	$162	50
7930 Carolwood Dr	0.73mi	3/1.5	1,366 (+8%)	3mo	$99,900	$73	49
7101 Weyburn St Unit C	0.60mi	3/2.5	1,413 (+11%)	1mo	$199,990	$142	46
7410 Glen Manor Dr	0.72mi	3/2.0	1,140 (-10%)	6mo	$225,000	$197	41
7966 Safebuy St	0.74mi	3/2.0	1,109 (-13%)	9mo	$194,900	$176	33
7901 Richland Dr	0.74mi	2/1.0 (-1)	1,108 (-13%)	10mo	$115,000	$104	31

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

Projected returns pro-forma

5.25% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 12.0%
• Equity multiple: 1.77×
• Total profit: $42,905
• Equity at exit: $116,268

10-year hold

• IRR: 12.0%
• Equity multiple: 3.15×
• Total profit: $120,558
• Equity at exit: $203,176

Cash invested: $55,972 (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 77028

• Home prices YoY: 2.0%
• Rents YoY: -1.6%
• Active inventory: 353
• Price-to-rent: 9.6×

Monthly cashflow live

• Estimated rent: $1,743 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$259 /mo · $3,114/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$366
• Net cashflow: $-14

Break-even live

Break-even rent $1,761

Max offer price $197,400

Occupancy floor 96%

Sensitivity live

Price	-10% $99	-5% $42	+0% $-14	+5% $-71	+10% $-127
Rent	-10% $-152	-5% $-83	+0% $-14	+5% $55	+10% $124
Rate	-1.0pp $87	-0.5pp $37	base $-14	+0.5pp $-66	+1.0pp $-119

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8015 Elbert St Unit A Houston, TX	2.0	2.0	1021	$1,650	$1.62	8d	1	0.30mi
7418 Bywood St Houston, TX	3.0	2.0	1300	$1,800	$1.38	25d	1	0.46mi
7804 Crestview Dr Unit A Houston, TX	3.0	2.0	1150	$1,550	$1.35	22d	1	0.55mi
7601 Springdale St Houston, TX	3.0	2.0	1224	$1,200	$0.98	16d	1	0.60mi
7830 Nashville St Houston, TX	3.0	2.0	1175	$1,800	$1.53	8d	1	0.65mi
7119 Bywood St Unit A Houston, TX	3.0	2.5	1150	$1,795	$1.56	44d	1	0.69mi
7973 Ritz St Houston, TX	3.0	2.0	1076	$2,250	$2.09	8d	1	0.73mi
7945 Henson St Houston, TX	3.0	2.0	1300	$1,665	$1.28	0d	1	0.82mi
7947 Henson St Houston, TX	3.0	2.0	1090	$1,349	$1.24	6d	1	0.82mi
7914 Laura Koppe Rd Houston, TX	3.0	2.0	1400	$1,850	$1.32	44d	1	0.86mi
7966 Henson St Unit B Houston, TX	3.0	2.0	1608	$1,410	$0.88	44d	1	0.87mi
8102 Crestview Dr Unit A Houston, TX	3.0	2.5	1800	$1,900	$1.06	22d	1	0.87mi
8102 Crestview Dr Unit B Houston, TX	3.0	2.5	1600	$1,900	$1.19	44d	1	0.87mi
8113 Denton St Houston, TX	3.0	2.0	1150	$1,750	$1.52	44d	1	1.02mi
5609 Denmark St Unit A Houston, TX	3.0	2.0	1410	$1,595	$1.13	44d	1	1.05mi
8216 Richland Dr Unit B Houston, TX	3.0	2.0	1150	$1,750	$1.52	44d	1	1.11mi
8158 Sunbury St Houston, TX	3.0	2.5	1300	$1,525	$1.17	25d	1	1.13mi
9324 Firnat St Unit B Houston, TX	3.0	2.5	1600	$1,900	$1.19	22d	1	1.15mi
9314 Sundown Dr Unit A Houston, TX	3.0	2.5	1608	$1,675	$1.04	0d	1	1.15mi
8213 Linda Vista Rd Houston, TX	3.0	2.0	1298	$1,625	$1.25	25d	1	1.15mi
8135 Chateau St Houston, TX	3.0	3.0	1610	$1,645	$1.02	11d	1	1.15mi
8006 Lynette St Houston, TX	3.0	1.0	1400	$1,475	$1.05	25d	1	1.15mi
8117 Saint Louis St Houston, TX	3.0	2.0	1090	$1,335	$1.22	22d	1	1.16mi
8309 Carolwood Dr Houston, TX	3.0	1.0	938	$1,350	$1.44	44d	1	1.16mi
8119 Saint Louis St Houston, TX	3.0	2.0	1090	$1,349	$1.24	44d	1	1.16mi
9410 Firnat St Unit B Houston, TX	3.0	2.5	1500	$1,900	$1.27	44d	1	1.19mi
8203 Woodlyn Rd Unit C Houston, TX	3.0	2.5	1650	$1,650	$1.00	8d	1	1.21mi
7839 Sandy St Houston, TX	3.0	2.0	1300	$1,575	$1.21	0d	1	1.26mi
8238 Homewood Ln Houston, TX	3.0	2.0	1696	$1,695	$1.00	25d	1	1.32mi
7740 Wileyvale Rd Unit B Houston, TX	3.0	2.0	1500	$3,000	$2.00	44d	1	1.39mi
7600 E Houston Rd Houston, TX	1.0–3.0	1.0–2.0	1017	$1,436	$1.41	14d	8	1.43mi
9550 N Wayside Dr Houston, TX	1.0–3.0	1.0–2.0	896	$1,399	$1.56	2d	5	1.44mi
8508 Wileyvale Rd Houston, TX	2.0	2.0	1504	$1,650	$1.10	44d	1	1.47mi
8639 Peachtree St Unit A Houston, TX	3.0	2.5	1150	$1,750	$1.52	44d	1	1.48mi
7201 Hallshire Dr Unit 235 Houston, TX	3.0	1.0	1100	$850	$0.77	44d	1	1.50mi
7201 Hallshire Dr Houston, TX	2.0	1.0	985	$740	$0.75	44d	1	1.50mi
7201 Hallshire Dr Unit 222 Houston, TX	2.0	1.0	985	$700	$0.71	44d	1	1.50mi

Listing history 17 events

1. 2026-06-01
   days on market $199,900 Active 25 DOM
2. 2026-05-31
   days on market $199,900 Active 24 DOM
3. 2026-05-08
   listed $1,475
4. 2026-05-07
   historical
5. 2026-05-07
   listed $199,900 Active 986-char remark
6. 2026-04-04
   price $239,900
7. 2026-02-13
   listed $249,900 Active
8. 2026-01-29
   historical
9. 2026-01-29
   historical
10. 2026-01-29
    historical
11. 2025-10-24
    listed $175,000 Active
12. 2025-10-24
    listed $75,000 Active
13. 2025-09-05
    listed $225,000 Active
14. 2025-07-08
    soldstatus
15. 2007-08-24
    soldstatus
16. 2007-03-13
    soldstatus
17. 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: $3,114 · $259/mo
• Projected year-2 tax: $3,658 · $305/mo
• Expected delta: +$545/yr (+$45/mo · 17.5%)

ⓘ 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 ≥111°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: $20,915
• − Mortgage interest: −$11,198
• − Property taxes: −$3,114
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,673
• − Management: −$1,673
• − Depreciation: −$5,815
• Taxable loss: −$3,557
• Est. tax savings @ 24.0%: +$854
• After-tax cash flow: $684/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: Houston ISD
• NCES district ID: 4823640
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $46,054
• Composite: 26.63/100
• National rank: #7173
• State rank: #593 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: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 19,109
• Household income: $38,357
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1177.0

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: Majority Black (57%)
• Race & ethnicity: Black 57% Hispanic / Latino 41% Two or more races 15% White 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 13% · Canada
• Languages at home: 61% English-only · Spanish 38%

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: ▲ 5.25%
• Current HPI: 267.7798
• Rent YoY: ▼ -1.55%
• 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

-99.3% since first listed

17 events — show timeline

• 2026-06-03 Rental Removed $1,475 HARMLS
• 2026-06-02 Listing Removed — HARMLS
• 2026-05-08 Listed for Rent $1,475 HARMLS
• 2026-05-07 Listing Removed — HARMLS
• 2026-05-07 Listed $199,900 HARMLS
• 2026-04-04 Price Changed $239,900 HARMLS
• 2026-02-13 Listed $249,900 HARMLS
• 2026-01-29 Listing Removed — HARMLS
• 2026-01-29 Listing Removed — HARMLS
• 2026-01-29 Listing Removed — HARMLS
• 2025-10-24 Listed $75,000 HARMLS
• 2025-10-24 Listed $175,000 HARMLS
• 2025-09-05 Listed $225,000 HARMLS
• 2025-07-08 Sold (Public Records) — Public Records
• 2007-08-24 Sold (Public Records) — Public Records
• 2007-03-13 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+8.6%/yr

Latest (2025): $3,114 · +13.0% YoY. Source: county tax records.