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B+

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Owner Contacts

$338,000

1616 Redway Ln, Houston, TX, 77062

Off Market

4 Beds

3 Bath

2,451 Sq Ft

Single Family Residence

$1.06 / sqft

Built in 1965

Property Lead Type:

Off-Market ListAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 4

Bathrooms Full 2

Garage Available

Heating Central

Cooling

AppliancesDisposal, Electric Oven, Microwave, Electric Range, Dishwasher, Oven

FlooringTile

Exterior

Lot Size10,629 sqft

Building Information

Year Built1965

Stories1

Garage Spaces2

Land Information

APN0962910000441

Lot Number441

SubdivisionClear Lake City

Land UseResidential

Legal DescriptionLT 441 BLK 35 CLEAR LAKE CITY SEC 2

Census Tract340501

Assessed Land Value$64,226

Assessed Improvement Value$234,403

Assessment Year2025

About this property

Located in the highly sought-after Clear Lake City neighborhood, this charming home sits on a corner lot surrounded by lush landscaping and stunning mature trees. Recent renovations include a new driveway, new floors, fresh paint throughout, and so much more! The oversized lot provides ample outdoor space, featuring a refinished backyard deck and new fence for outdoor relaxation and entertaining. Inside, you'll find 4 bedrooms, 2.5 bathrooms, an extra room that could be used as an office/formal dining area/extra bedroom, an oversized living room, and a beautifully updated kitchen with sleek quartz countertops. With ample storage and convenient access to nearby playgrounds and Clear Lake City Elementary, this home is perfect for families!

Investor Tools

$338,000

Estimated Property Value

$291,900Estimated Mortgage Balance

$51,240Estimated Equity

14% equity

Estimated Cap Rate

View Rate

Estimated ARV (After-Repair Value)

Calculate ARV

Rent-to-Value Ratio: 0.72%

Rent Estimate

$2,028 /month

Positive

Cash Flow Estimate:

$676 /month

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Financing Details

Estimated Taxes & Insurance

HOA Fees

Interest Rate Assumption

$144/month

$91/month

5.947%

Tax Information

Annual Taxes

Assessed Value

Assessment Year

Assessed Land

Assessed Improvement

Market Value

Tax Delinquent

$36

$298,629

2025

$64,226

$234,403

$298,629

Tax History

Year

Tax Paid

Assessed Value

2020

$36

$298,629

Mortgage Details

Lender

Loan Type

Loan Amount

Assumable

Position

Origination Date

Maturity Date

Trident Realty Investments Llc

Commercial

$291,900

First

May 20, 2025

N/A

Equity Summary

Est. Mortgage Balance

Est. Equity

Equity %

LTV

Est. Monthly Payment

$286,760

$60,240

17%

85%

$1,751/mo

Rental Potential

Est. Monthly Rent

Est. Monthly Expenses

Est. Cash Flow

Gross Yield

$2,226/mo

$1,842/mo

+$384/mo

7.9%

Learn About the Market: Opportunity in Houston

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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.

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