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$295,000

7223 Palmito Ranch Drive, Richmond, TX, 77406

On MarketInfo
Just AddedInfo
Beds4 Beds
Baths2 Bath
Baths1,908 Sq Ft
Single Family ResidenceSingle Family Residence
price_per_sqft$154.61 / sqft
Year BuiltBuilt in 2005

Property Lead Type:

High Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesENERGY STAR Qualified Appliances, Disposal, Refrigerator Included, Washer Included, Gas Oven, Microwave, Gas Range, Dishwasher
FlooringCarpet, Tile

Exterior

Lot Size6,713 sqft

Building Information

Year Built2005
Stories1
Roof Type105
Garage Spaces2

Land Information

APN5121-05-001-0110-901
Lot Number11
SubdivisionLong Meadow Farms Sec 5
Land UseResidential
Legal DescriptionLONG MEADOW FARMS SEC 5, BLOCK 1, LOT 11
Census Tract673404
Assessed Land Value$57,200
Assessed Improvement Value$245,536
Assessment Year2025

About this property

This single story ranch style home in Long Meadow Farms offers 1908 square feet with 4 bedrooms and 2 baths, designed with a warm open concept layout. The island kitchen with updated appliances flows into the main living area, which features new flooring for a clean, refreshed look. French doors lead to a study that can function as a home office or optional fourth bedroom. The primary suite sits at the back of the home with a walk-in closet, double vanities, and a comfortable bath layout. Outdoor spaces include a covered front porch, a covered back patio, and a backyard with a concrete privacy wall. Community amenities include an HOA maintained gym, two swimming pools, and miles of walking trails along the lake and river, with a neighborhood park just a short distance away. The property is zoned to Lamar CISD, known for its strong academic reputation. Refrigerator, washer, and dryer remain with the home.

Investor Tools

$275,769Estimated Mortgage Balance
$28,231Estimated Equity
9% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$1,824 /month
Positive
Cash Flow Estimate:
$608 /month

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Michael Gee

Real Broker, LLC

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$367/month
$875/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$2,888
$302,736
2025
$57,200
$245,536
$302,736
No

Tax History

Year
Tax Paid
Assessed Value
2025
$2,888
$302,736

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Pinnacle Funding Group Inc
Va
$284,675
Yes
First
Sep 14, 2024
Oct 2054

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$275,769
$28,231
9%
91%
$1,707/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,740/mo
$2,582/mo
+$158/mo
10.8%

Learn About the Market: Opportunity in Texas

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Explore

Texas

Living in Texas means access to four of the nation’s most dynamic metro economies — Dallas–Fort Worth’s corporate and logistics powerhouse, Houston’s global energy and medical hub, Austin’s tech-driven and culturally iconic Live Music Capital of the World, and San Antonio’s historic yet steadily expanding military and healthcare center. The state blends economic scale with cultural significance, rooted in independence, entrepreneurship, and a strong sense of place — from Friday night football to world-renowned barbecue and music festivals. For homebuyers, Texas offers comparatively attainable housing, no personal income tax, and master-planned communities built around space and convenience; for investors, continued population growth, business relocation, and diversified industries create sustained demand across urban cores, suburbs, and emerging secondary markets.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.3% annually

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$283,800

Unemployment Rate

Unemployment Rate

4.3%

Price Trend

Price Trend

Flat

New Permits

New Permits

158,121

City: Richmond

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7223 Palmito Ranch Drive | Property Details | No Agent List