7402 Alabonson Rd #309 · Houston, TX 77088

$52,900

1 bd · 1.5 ba · 690 sqft · Townhouse public records · 15 Days on market

Built 1984 3.09 ac lot $77/sqft · 19% below area Est $65k · 19% under $242/mo HOA · 25% of rent

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Why this score? — see what drove the C+ 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 +21.9/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +7.0/10.0
• Livability +3.7/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to your dream home! This fully remodeled property has been beautifully updated inside and out, including brand-new vinyl floor throughout and appliances including brand-new refrigerator. The modern kitchen features stunning granite countertops, brand-new cabinets and appliances. Enjoy the spacious living room, which includes a fireplace perfect for relaxing evenings. Upstairs, you'll find generously sized bedroom with modern vanity and sink in its bathroom. Low property tax and highly motivated seller!

Key facts

• Brand-new cabinets
• Remodeled property
• Modern kitchen

Tags

• REMODELED PROPERTY
• VINYL FLOOR
• MODERN KITCHEN
• GRANITE COUNTERTOPS
• BRAND-NEW CABINETS
• FIREPLACE

Property features AI

Finance

• Other: Seller disclosure available
• HOA & community: Managed by Castlerock Property Management; Monthly association fee of $242; HOA covers common areas and maintenance of grounds and structure; Gated community amenity

Exterior

• Parking: Controlled access
• Security: Controlled access
• Utilities: Public water; Public sewer
• Home design: Residential property; 2 stories; Entry level spans first and second levels
• Construction: Built in 1984; Brick and wood siding exterior; Composition roof; Slab foundation
• Exterior features: Gated community; Asphalt and concrete road surfaces

Interior

• Kitchen: Electric oven and electric range; Dishwasher; Disposal; Microwave; Refrigerator
• Bedrooms: Primary bedroom on second level; Living room on first level; Total of 2 rooms
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Wood-burning fireplace (1); Primary bedroom with private bath; Tub and shower
• Laundry & utility: Washer and dryer included; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 1-bed/1.5-bath townhouse listed at $53k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($974 rent vs $53k).
• Recommended offer: $52k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.2% 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); Eisenhower H S (math 16% / reading 23%, grade F, #1,424 of 1,632 statewide, top 88%, 2,855 students, 83% 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 45d 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 15 days — a 2% lower offer ($52k) is reasonable based on typical stale-listing flexibility.
• 10 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.
• Current owner paid $16k; list at $53k implies a 231% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; HOA is 25% 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 $52,106 (1.5% below list)

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
7. 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.
8. 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: 1.84% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 4.5

CMA / ARV

• ARV (median comp): $65,333
• List price: $52,900
• Delta: -15.97%
• Verdict: UNDERPRICED
• Comps: 13 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7402 Alabonson Rd #301	0.00mi	1/1.5	690 (0%)	4mo	$48,000	$70	97
7402 Alabonson Rd #401	0.00mi	1/1.0	663 (-4%)	13mo	$49,999	$75	81
7402 Alabonson Rd #206	0.00mi	1/1.0	663 (-4%)	18mo	$69,900	$105	76
7402 Alabonson Rd #510	0.00mi	1/1.0	663 (-4%)	22mo	$76,000	$115	73
7402 Alabonson Rd #203	0.00mi	1/1.0	663 (-4%)	23mo	$65,000	$98	72

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: -11.5%
• Equity multiple: 0.60×
• Total profit: $-5,893
• Equity at exit: $7,888

10-year hold

• IRR: -12.8%
• Equity multiple: 0.43×
• Total profit: $-8,451
• Equity at exit: $4,574

Cash invested: $14,812 (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: $974 high
• Mortgage (P&I): −$277
• Tax from tax record: −$145 /mo · $1,734/yr
• Insurance: −$22
• HOA: −$242
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $84

Break-even live

Break-even rent $868

Max offer price $52,900

Occupancy floor 86%

Sensitivity live

Price	-10% $114	-5% $99	+0% $84	+5% $69	+10% $54
Rent	-10% $7	-5% $45	+0% $84	+5% $122	+10% $161
Rate	-1.0pp $110	-0.5pp $97	base $84	+0.5pp $70	+1.0pp $56

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: $13,225
• Closing costs: $1,587
• 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	4d	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	23d	1	1.10mi
5300 W Gulf Bank Rd Houston, TX	1.0–2.0	1.0–2.0	762	$695	$0.91	23d	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

• Monthly dues: $242 · $2,904/yr

Listing history 41 events

1. 2026-06-21
   days on market $52,900 Active 15 DOM
2. 2026-06-18
   days on market $52,900 Active 12 DOM
3. 2026-06-17
   days on market $52,900 Active 11 DOM
4. 2026-06-16
   days on market $52,900 Active 10 DOM
5. 2026-06-15
   price $52,900 Active 9 DOM
6. 2026-06-15
   days on market $54,900 Active 9 DOM
7. 2026-06-13
   days on market $54,900 Active 7 DOM
8. 2026-06-13
   days on market $54,900 Active 6 DOM
9. 2026-06-09
   days on market $54,900 Active 3 DOM
10. 2026-06-08
    days on market $54,900 Active 2 DOM
11. 2026-06-07
    remarks 515-char remark
12. 2026-06-07
    days on marketlisting id $54,900 Active 1 DOM
13. 2026-05-31
    days on market $54,900 Active 153 DOM
14. 2026-01-01
    listed $950
15. 2025-12-29
    historical
16. 2025-12-29
    listed $54,900 Active 469-char remark
17. 2025-12-27
    price $54,900
18. 2025-10-23
    price $57,900
19. 2025-09-10
    price $59,900
20. 2025-08-17
    listed $62,900 Active
21. 2025-07-31
    historical
22. 2025-07-02
    price $64,900
23. 2025-06-20
    price $67,900
24. 2025-04-15
    listed $68,900 Active
25. 2025-04-15
    historical
26. 2025-03-09
    historical $975
27. 2025-02-04
    listed $69,900 Active
28. 2025-02-04
    historical
29. 2025-01-03
    price $71,900
30. 2024-12-05
    listed $72,900 Active
31. 2024-12-05
    historical
32. 2024-12-04
    historical $975
33. 2024-12-04
    listed $975
34. 2024-11-22
    price $72,900
35. 2024-10-13
    listed $74,900 Active
36. 2024-10-02
    listed $1,050
37. 2024-08-23
    soldstatus
38. 2005-11-07
    soldstatus
39. 2004-01-16
    soldstatus
40. 2000-06-07
    soldstatus
41. 1993-01-01
    soldstatus $16,000

ⓘ 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: $1,734 · $145/mo
• Projected year-2 tax: $1,734 · $145/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: $11,689
• − Mortgage interest: −$2,963
• − Property taxes: −$1,734
• − Insurance: −$264
• − Repairs & maintenance: −$935
• − Management: −$935
• − HOA: −$2,904
• − Depreciation: −$1,539
• Taxable income: $414
• Est. tax owed @ 24.0%: −$99
• After-tax cash flow: $903/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

+230.6% since first listed

32 events — show timeline

• 2026-06-15 Price Changed $52,900 HARMLS
• 2026-06-06 Listed $54,900 HARMLS
• 2026-06-01 Rental Removed $950 HARMLS
• 2026-05-31 Listing Removed — HARMLS
• 2026-01-01 Listed for Rent $950 HARMLS
• 2025-12-29 Listing Removed — HARMLS
• 2025-12-29 Listed $54,900 HARMLS
• 2025-12-27 Price Changed $54,900 HARMLS
• 2025-10-23 Price Changed $57,900 HARMLS
• 2025-09-10 Price Changed $59,900 HARMLS
• 2025-08-17 Listed $62,900 HARMLS
• 2025-07-31 Listing Removed — HARMLS
• 2025-07-02 Price Changed $64,900 HARMLS
• 2025-06-20 Price Changed $67,900 HARMLS
• 2025-04-15 Listing Removed — HARMLS
• 2025-04-15 Listed $68,900 HARMLS
• 2025-03-09 Rental Removed $975 HARMLS
• 2025-02-04 Listing Removed — HARMLS
• 2025-02-04 Listed $69,900 HARMLS
• 2025-01-03 Price Changed $71,900 HARMLS
• 2024-12-05 Listing Removed — HARMLS
• 2024-12-05 Listed $72,900 HARMLS
• 2024-12-04 Rental Removed $975 HARMLS
• 2024-12-04 Listed for Rent $975 HARMLS
• 2024-11-22 Price Changed $72,900 HARMLS
• 2024-10-13 Listed $74,900 HARMLS
• 2024-10-02 Listed for Rent $1,050 HARMLS
• 2024-08-23 Sold (Public Records) — Public Records
• 2005-11-07 Sold (Public Records) — Public Records
• 2004-01-16 Sold (Public Records) — Public Records
• 2000-06-07 Sold (Public Records) — Public Records
• 1993-01-01 Sold (Public Records) $16,000 Public Records

Property tax history

+11.6%/yr

Latest (2025): $1,734 · +9.7% YoY. Source: county tax records.