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$143,000

12241 Lemon Ridge Ln # 122, Houston, TX, 77035

Off MarketInfo
Beds3 Beds
Baths2 Bath
Baths1,196 Sq Ft
Condos / TownhousesCondos / Townhouses
price_per_sqft$129.6 / sqft
Year BuiltBuilt in 1980

Property Lead Type:

Absentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 3Bedrooms 3
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Heating CentralHeating Central
CoolingCooling
AppliancesMicrowave, Dishwasher

Exterior

Lot Size1,059 sqft

Building Information

Year Built1980
Stories2

Land Information

APN0461710380008
SubdivisionFondren Southwest Tempos Apts
Land UseResidential
Legal DescriptionAPT 12241 BLDG 38 FONDREN SOUTHWEST TEMPOS APTS ABST 1071 D ELLIOT
Census Tract422304
Assessed Land Value$31,770
Assessed Improvement Value$102,586
Assessment Year2025

About this property

Step inside this beautifully renovated 3 bed, 2 bath home in Fondren Southwest. The kitchen boasts an open floor plan New White Shaker Cabinets with new appliances and quartz countertops, including a microwave and range. Enjoy the custom bathrooms with new wood LVP flooring. A perfect blend of style and functionality awaits you in this charming property.

Investor Tools

Property Icon
$143,000
Estimated Property Value
$110,000Estimated Mortgage Balance
$35,102Estimated Equity
23% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$930 /month
Positive
Cash Flow Estimate:
$310 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$278/month
$364/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$2,622
$134,356
2025
$31,770
$102,586
$134,356
No

Tax History

Year
Tax Paid
Assessed Value
2024
$2,622
$134,356

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
United Wholesale Mortgage
Conventional
$110,000
No
First
Apr 25, 2025
May 2055

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$107,898
$41,102
27%
75%
$660/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,307/mo
$1,024/mo
+$283/mo
11.0%

Learn About the Market: Opportunity in Houston

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Explore

Houston

Houston is one of the most economically diverse metros in the country — and one of its most globally connected. Known as the Energy Capital of the World, the city also anchors the Texas Medical Center, a massive port, and a thriving aerospace presence tied to NASA’s Johnson Space Center.

From refinery corridors to world-class hospitals, from international trade routes to master-planned suburbs like The Woodlands and Katy, Houston’s economy runs deep and wide. It’s a city built on industry, immigration, and resilience — with housing markets as varied as its population.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.2%

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$261,700

Unemployment Rate

Unemployment Rate

4.10%

Price Trend

Price Trend

~2–4% YoY growth

New Permits

New Permits

~6,800 units

City: Houston

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12241 Lemon Ridge Ln # 122 | Property Details | No Agent List