2002 Morton Cove CtRichmondTX77469
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in Richmond at 2002 Morton Cove Ct, Richmond, TX, 77469 earns from $3,966/mo rent with a $4,743/mo payment. Total monthly income totals $3,966/mo. ROI tracks 8.64% on current figures, and rental yield reads 4.91% at a $969,000 purchase. Equity gained on principal adds $6,253/yr, and 5% annual appreciation supports $267,717 over five years. Five-year ROI reaches 43.74% and total cumulative return in cash sums $139,431. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $3,966/mo property income instead of your personal income.
Single Family
Built in 2021
9,909 sqft lot
$N/A/sqft
$1,320 annually HOA
More details about the property
Neighborhood Data
Neighborhood data shown for ZIP Code: 77469, Richmond, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 28,583 (100%) |
| Owner Occupied HU | 20,528 (71.8%) |
| Renter Occupied HU | 5,709 (20.0%) |
| Vacant Housing Units | 2,346 ( 8.2%) |
| Median Home Value | $366,886 |
| Average Home Value | $418,861 |
Housing Distribution
Address Breakdown
Residential
25,396
Single Family
22,843
Multi-Family
2,553
Businesses
817
Price History
Date | Event | Price |
|---|---|---|
| 2025-05-24 | Listed for sale | $969,000 |
| 2021-10-29 | Listing removed | N/A |
| 2021-10-11 | Pending sale | $749,107 |
Tax History
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-05-24 | $7403.48 | -2.02% | $669,470 | -2.72% |
| 2023-05-24 | $7556.06 | -18.21% | $688,170 | 6.98% |
| 2022-05-24 | $9238.68 | 648.79% | $643,240 | 783.57% |
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Facts & Features
General Information
- Type: SingleFamily
- Year Built: 2021
- Architectural Style: Traditional
- Building Area: 3,626
- Living Area: 3,626 sqft
- Property Condition: N/A
Features & Amenities
- Heating: Natural Gas
- Cooling: Electric
- Flooring: Carpet, Tile, Vinyl Plank
- Interior Features: High Ceilings, Omega Stone Counters
- Exterior Features: N/A
- Parking Features: Attached
Location
HOA & Fees
- HOA Fee: $1,320 annually
- Association Fee: $1,320 annually
- Fees & Dues: N/A
- Association Amenities: N/A
- Association Fee Includes: Clubhouse, Maintenance Grounds, Recreational Facilities
Utilities
- Utilities: N/A
- Sewer: N/A
- Water Source: Water District
- Road Surface Type: N/A
School Information
- Elementary School: Phelan Elementary
- Middle School: Lamar Junior High School
- High School: Lamar Consolidated High School
Listed by: Minh Lam • SOVRAN
Mls Name: HAR
Mls Provider:
Mls ID: #42983890
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