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$373,000

NAL Estimated Property Value

7235 Palmito Ranch Dr, Richmond, TX, 77406

Off MarketInfo
Beds4 Beds
Baths2 Bath
Baths2,494 Sq Ft
price_per_sqft$143.95 / sqft
Year BuiltBuilt in 2005

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 4Bedrooms 4
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesDisposal, Electric Oven, Microwave, Electric Range, Dishwasher
FlooringCarpet, Tile, Wood

Exterior

Lot Size6,787 sqft

Building Information

Year Built2005
Stories1
Roof Type105
Garage Spaces2

Land Information

APN5121-05-001-0140-901
Lot Number14
SubdivisionLong Meadow Farms Sec 5
Land UseResidential
Legal DescriptionLONG MEADOW FARMS SEC 5, BLOCK 1, LOT 14
Census Tract673404
Assessed Land Value$57,200
Assessed Improvement Value$299,871
Assessment Year2025

About this property

Welcome to 7235 Palmito Ranch in Richmond, a great floor plan with 4 bedrooms, 2 full baths located in Long Meadows Farms. This well designed home boasts an open-concept floor plan that seamlessly integrates the living, dining, and kitchen areas, making it perfect for entertaining and everyday living. The kitchen features stainless steel appliances and stylish cabinetry. The primary suite has a spacious layout and en-suite bathroom that includes double vanities, a soaking tub, and a separate shower. Additional bedrooms provide ample space and sunlight, ideal for family or guests. Recent upgrades include: new HVAC system, roof, and water heater all within the last 2 years, new driveway (2025), all new carpet (2025); newly painted interior (2025). Situated conveniently near top-rated schools, shopping centers, and dining options, this home offers both convenience and a sense of community. Don’t miss the chance to make this exceptional property your new home!

Investor Tools

Property Icon
$373,000
Estimated Property Value
$89,589Estimated Mortgage Balance
$283,411Estimated Equity
76% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,238 /month
Positive
Cash Flow Estimate:
$746 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$622/month
$900/month
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$5,602
$357,071
2025
$57,200
$299,871
$357,071
No

Tax History

Year
Tax Paid
Assessed Value
2025
$5,602
$357,071

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
New Century Mortgage Corp
Fannie Mae/Freddie Mac (Phased Out Keying In 2008 Because Fannie Mae Does Not Originate Loans Directly To Borrowers Or Investors. Most "New Conventional" Loans Meet Their General Underwriting Guidelines.)
$147,368
No
First
Sep 2, 2005
Sep 2035

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$89,589
$287,411
76%
24%
$1,058/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$2,740/mo
$1,958/mo
+$782/mo
8.8%

Learn About the Market: Opportunity in Texas

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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.

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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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7235 Palmito Ranch Dr | Property Details | No Agent List