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$199,000

7223 Lakewood Dr, Houston, TX, 77016

$225,238 ARVInfo
Off MarketInfo
Beds5 Beds
Baths3 Bath
Baths2,525 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$1.19 / sqft
Year BuiltBuilt in 1955

Property Lead Type:

Absentee OwnerHigh EquityCash Buyers

Highlights

Interior

Bedrooms 5Bedrooms 5
Bathrooms Full 2Bathrooms Full 2
Garage AvailableGarage Available
HeatingHeating
AppliancesDisposal, Gas Oven, Microwave, Gas Range, Refrigerator

Exterior

Lot Size7,322 sqft

Building Information

Year Built1955
Stories1

Land Information

APN0825160000006
Lot Number6
SubdivisionScenic Woods
Land UseResidential
Legal DescriptionLT 6 BLK 43 SCENIC WOODS
Census Tract231500
Assessed Land Value$52,287
Assessed Improvement Value$87,819
Assessment Year2025

About this property

Step into a unique opportunity in Scenic Woods with this 2,525 sq. ft. single-story property designed for flexible living or business use. The inviting front porch leads into a layout with a centrally located kitchen that serves as the heart of the home. Multiple rooms provide versatility for assisted living, senior care, daycare, medical use, or multi-generational living. ADA accessibility, a sprinkler system, a full-home generator, and city ordinance approval for up to 12 occupants ensure safety and compliance. Natural light enhances the open common areas, while bedrooms offer privacy and comfort. The kitchen’s central position makes it ideal for group dining or family gatherings, and the large yard with on-site parking expands options. With its adaptable floorplan, business-ready features, and residential warmth, this property is ready to serve the needs of care providers, entrepreneurs, or families seeking space and function in a convenient Houston location.

Investor Tools

Property Icon
$199,000
Estimated Property Value
$0Estimated Mortgage Balance
$199,000Estimated Equity
100% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
$225,237
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,194 /month
Positive
Cash Flow Estimate:
$398 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$346/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$3,157
$140,106
2025
$52,287
$87,819
$140,106
No

Tax History

Year
Tax Paid
Assessed Value
2024
$3,157
$140,106

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
N/A
$206,000
100%
0%
$0/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,722/mo
N/A
+$1,722/mo
10.4%

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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7223 Lakewood Dr | Property Details | No Agent List