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$866,000

518 S Park Grv, Houston, TX, 77007

Off MarketInfo
Beds4 Beds
Baths4 Bath
Baths3,432 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$257.87 / sqft
Year BuiltBuilt in 2001

Property Lead Type:

Off-Market ListAbsentee OwnerHigh Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 3Bathrooms Full 3
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesENERGY STAR Qualified Appliances, Disposal, Convection Oven, Electric Oven, Oven, Microwave, Gas Cooktop, Dishwasher
FlooringTile, Wood

Exterior

Exterior FeaturesBalcony
Lot Size2,818 sqft

Building Information

Year Built2001
Garage Spaces2

Land Information

APN1212800040009
Lot Number9
SubdivisionMemorial Heights
Land UseResidential
Legal DescriptionLT 9 BLK 4 MEMORIAL HEIGHTS SEC 7
Census Tract510202
Assessed Land Value$221,996
Assessed Improvement Value$539,504
Assessment Year2025

About this property

Welcome to Park at Memorial Heights, a fabulous, guard-gated community bordering Spotts Park and right next to Buffalo Bayou Park. This corner-lot home offers first-floor living with a bright open layout, spacious formal living and family rooms, modern kitchen with butler’s pantry, and a dedicated office enclosed with stunning, partitioned glass doors. Plantation shutters and crown molding add timeless elegance throughout the home. The second floor has three bedrooms, cork floors, updated primary and guest baths, and a private balcony. Third floor provides a flexible fourth bedroom with its own private balcony and a full bath - ideal as a media room, game room, teenage retreat, or guest suite. The privacy-fenced, large side yard impresses with thoughtfully designed low-maintenance turf, an outdoor kitchen, and a putting green. Meticulously maintained with a new (2023) roof, and many thoughtful updates, this home pairs luxury with effortless inner-loop living.

Investor Tools

Property Icon
$866,000
Estimated Property Value
$9,707Estimated Mortgage Balance
$856,537Estimated Equity
99% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$5,310 /month
Positive
Cash Flow Estimate:
$1,770 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,322/month
$4,650/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$11,531
$761,500
2025
$221,996
$539,504
$761,500
No

Tax History

Year
Tax Paid
Assessed Value
2024
$11,531
$761,500

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Texas State Affordable Hsng Corp
Stand Alone Second / Subordinate Position
$9,707
No
First
Dec 23, 2024
Dec 2027

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$9,463
$864,537
98%
1%
$59/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$3,340/mo
$4,709/mo
$-1,369/mo
4.6%

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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