939 Colorado St #20 · Houston, TX 77007

$365,000

2 bd · 2.0 ba · 2,000 sqft · Townhouse public records · 38 Days on market

Built 2000 1,844 sqft lot $182/sqft · 30% below area Est $525k · 30% under $217/mo HOA · 5% of rent

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.8/30.0
• ARV discount +15.0/15.0
• 1% rule +6.1/10.0
• DSCR +5.2/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Freshly updated and ready for immediate move-in, this Houston townhome delivers the space, location, and low-maintenance lifestyle buyers are looking for near Downtown, Buffalo Bayou, Memorial Park, and major commuter routes. Recent improvements include new wood flooring, updated bathrooms, fresh interior paint, and exterior stucco refresh, giving this home a clean, move-in-ready feel. Motivated Seller.

Key facts

• New flooring
• Updated bathrooms
• Fresh interior paint

Tags

• COMPREHENSIVE RENOVATION
• NEW FLOORING
• FRESH INTERIOR PAINT
• UPDATED BATHROOMS
• CLEAN FUNCTIONAL FLOW
• DINING AND ENTERTAINMENT

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $365k.

Deal economics

• At list price, monthly cash flow is $236 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $365k).
• Recommended offer: $354k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 3.1% in Houston — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#184 in TX, #4,771 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, cost of living A+, housing A+; Watch: crime F.
• Houston ISD (urban): math 27% / reading 35% proficiency, ranked #593 of 826 in TX (top 72%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Crockett El (math 22% / reading 39%, grade F, #2,464 of 4,322 statewide, top 58%, 554 students, 63% FRL); Hogg Middle (math 44% / reading 48%, grade D+, #462 of 1,662 statewide, top 28%, 1,120 students, 52% FRL); Heights H S (math 27% / reading 57%, grade F, #730 of 1,632 statewide, top 47%, 2,476 students, 65% FRL).
• Market conditions: Rents soft (-0.8%/yr); 651 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 33% of the median local income ($145k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k of value loss. Plan a longer hold.
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($354k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $354,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 7.07%
• Cash-on-cash: 2.78%
• DSCR: 1.12
• GRM: 7.5

CMA / ARV

• ARV (median comp): $525,120
• List price: $365,000
• Delta: -30.49%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
939 Colorado St #20	0.00mi	3/3.0 (+1)	2,000 (0%)	1mo	$365,000	$183	90
939 Colorado St #13	0.04mi	3/3.0 (+1)	2,088 (+4%)	3mo	$424,900	$203	80
1304 Dart St Unit E	0.36mi	3/3.0 (+1)	2,088 (+4%)	3mo	$400,000	$192	64
1823 Dart St	0.15mi	3/3.5 (+1)	1,888 (-6%)	11mo	$379,900	$201	63
1923 Shearn St	0.49mi	3/3.5 (+1)	1,964 (-2%)	8mo	$425,000	$216	56
1205 Summer St Unit C	0.52mi	3/3.5 (+1)	2,088 (+4%)	7mo	$420,000	$201	51
1205 Summer St Unit A	0.52mi	3/3.5 (+1)	2,088 (+4%)	8mo	$399,990	$192	50
1901 Summer St	0.39mi	3/3.5 (+1)	1,874 (-6%)	12mo	$455,000	$243	50
1917 Summer St	0.40mi	3/3.0 (+1)	1,768 (-12%)	6mo	$465,000	$263	49
1711 Allen Pkwy #2702	0.60mi	2/2.5	2,197 (+10%)	9mo	$1,750,000	$797	46
1704 Alamo St Unit A	0.65mi	3/3.5 (+1)	2,084 (+4%)	8mo	$464,000	$223	46
1711 Allen Pkwy #2604	0.60mi	2/2.5	2,287 (+14%)	5mo	$2,300,000	$1,006	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -15.8%
• Equity multiple: 0.46×
• Total profit: $-55,610
• Equity at exit: $54,423

10-year hold

• IRR: -15.0%
• Equity multiple: 0.28×
• Total profit: $-73,491
• Equity at exit: $31,559

Cash invested: $102,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 77007

• Rents YoY: -0.8%
• Active inventory: 651
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $4,043 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$674 /mo · $8,091/yr
• Insurance: −$152
• HOA: −$217
• Vacancy / Maint / Mgmt: −$849
• Net cashflow: $236

Break-even live

Break-even rent $3,744

Max offer price $365,000

Occupancy floor 89%

Sensitivity live

Price	-10% $443	-5% $340	+0% $236	+5% $133	+10% $30
Rent	-10% $-83	-5% $77	+0% $236	+5% $396	+10% $556
Rate	-1.0pp $420	-0.5pp $329	base $236	+0.5pp $142	+1.0pp $46

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Sabine St Houston, TX	1.0–2.0	1.0–2.0	1187	$2,882	$2.43	5d	15	0.34mi
1512 Crockett St Unit A Houston, TX	2.0	2.5	1808	$2,800	$1.55	45d	1	0.50mi
1510 Crockett St Houston, TX	2.0	3.0	1912	$2,800	$1.46	45d	1	0.50mi
2018 Crockett St Unit 1029793P Houston, TX	3.0	3.5	2507	$6,482	$2.59	7d	1	0.53mi
2018 Crockett St Unit 2018 Houston, TX	3.0	3.5	2514	$8,000	$3.18	45d	1	0.53mi
2114 Sabine St Houston, TX	3.0	4.0	2020	$3,200	$1.58	45d	1	0.64mi
2114 Sabine St Unit 1257735P Houston, TX	3.0	3.5	2594	$6,588	$2.54	45d	1	0.64mi
414 Milam St Unit 510 Houston, TX	3.0	2.0	2421	$9,230	$3.81	16d	1	0.75mi
414 Milam St Unit 2187 Houston, TX	2.0	2.0	1585	$3,857	$2.43	5d	1	0.75mi
414 Milam St Unit 437 Houston, TX	2.0	2.0	1585	$3,857	$2.43	13d	1	0.75mi
414 Milam St Unit 2165 Houston, TX	2.0	2.0	1585	$3,817	$2.41	1d	1	0.75mi
414 Milam St Unit 447 Houston, TX	3.0	2.0	2421	$8,991	$3.71	13d	1	0.75mi
414 Milam St Unit 447 Houston, TX	3.0	2.0	2421	$8,973	$3.71	45d	1	0.75mi
414 Milam St Unit 422 Houston, TX	2.0	2.0	1585	$3,833	$2.42	9d	1	0.75mi
414 Milam St Unit 2148 Houston, TX	2.0	2.0	1585	$3,868	$2.44	0d	1	0.75mi
414 Milam St Unit 3165 Houston, TX	3.0	2.0	2421	$9,002	$3.72	0d	1	0.75mi
414 Milam St Unit 2162 Houston, TX	2.0	2.0	1585	$3,833	$2.42	7d	1	0.75mi
414 Milam St Unit B1-2003 Houston, TX	2.0	2.0	1585	$4,513	$2.85	45d	1	0.77mi
414 Milam St Houston, TX	2.0	2.5	1585	$3,845	$2.43	24d	1	0.77mi
414 Milam St Ph 2-4602 Houston, TX	2.0	2.0	2158	$8,990	$4.17	45d	1	0.77mi
822 Ruthven St Houston, TX	2.0	2.0	1846	$2,400	$1.30	1d	1	0.81mi
1308 Andrews St Houston, TX	3.0	2.0	1444	$3,300	$2.29	45d	1	0.84mi
909 Texas Ave Houston, TX	2.0	1.0–2.0	1262	$3,129	$2.48	3d	36	0.84mi
413 Travis St Houston, TX	2.0	2.0	1495	$4,000	$2.68	45d	1	0.85mi
409 Travis St Unit 432 Houston, TX	2.0	2.0	1495	$3,316	$2.22	13d	1	0.86mi
409 Travis St Unit 424 Houston, TX	2.0	2.0	1495	$3,292	$2.20	9d	1	0.86mi
409 Travis St Unit 425 Houston, TX	2.0	2.0	1495	$3,327	$2.23	0d	1	0.86mi
409 Travis St Unit 2187 Houston, TX	2.0	2.0	1495	$3,317	$2.22	1d	1	0.86mi
3010 S Heights Hollow Ln Houston, TX	2.0	2.0	1442	$2,400	$1.66	45d	1	0.88mi
915 Texas Ave Unit 420 Houston, TX	3.0	2.0	2366	$4,655	$1.97	45d	1	0.88mi
915 Texas Ave Unit 420 Houston, TX	3.0	2.0	2366	$4,655	$1.97	21d	1	0.88mi
616 Memorial Heights Dr Houston, TX	1.0–2.0	1.0–2.0	1070	$2,254	$2.11	0d	44	0.90mi
410 James St Houston, TX	3.0	2.0	1602	$6,750	$4.21	45d	1	0.97mi
410 James St Unit 1031793P Houston, TX	3.0	2.0	1593	$5,668	$3.56	1d	1	0.97mi
1111 Rusk St Houston, TX	1.0–2.0	1.0–2.5	1145	$2,835	$2.48	0d	27	0.97mi
1625 N Main St Houston, TX	3.0	1.0–3.0	994	$2,008	$2.02	0d	40	0.98mi
825 Usener St Houston, TX	2.0	1.0–2.0	1050	$2,925	$2.79	0d	27	0.98mi
717 Fannin St Houston, TX	2.0	2.0	1700	$3,800	$2.24	45d	1	0.98mi
3009 Memorial Ct Houston, TX	2.0	2.0	1548	$2,510	$1.62	45d	1	0.99mi
2000 Bagby St Unit 1202 Houston, TX	2.0	2.0	1405	$1,781	$1.27	45d	1	1.00mi

HOA detail

• Monthly dues: $217 · $2,604/yr

Listing history 26 events

1. 2026-05-10
   status Pending 406-char remark

   Show marketing remark (406 chars)

   Freshly updated and ready for immediate move-in, this Houston townhome delivers the space, location, and low-maintenance lifestyle buyers are looking for near Downtown, Buffalo Bayou, Memorial Park, and major commuter routes. Recent improvements include new wood flooring, updated bathrooms, fresh interior paint, and exterior stucco refresh, giving this home a clean, move-in-ready feel. Motivated Seller.

2. 2026-05-02
   status Pending 406-char remark

   Show marketing remark (406 chars)

   Freshly updated and ready for immediate move-in, this Houston townhome delivers the space, location, and low-maintenance lifestyle buyers are looking for near Downtown, Buffalo Bayou, Memorial Park, and major commuter routes. Recent improvements include new wood flooring, updated bathrooms, fresh interior paint, and exterior stucco refresh, giving this home a clean, move-in-ready feel. Motivated Seller.

3. 2026-04-27
   price $365,000 406-char remark

   Show marketing remark (406 chars)

   Freshly updated and ready for immediate move-in, this Houston townhome delivers the space, location, and low-maintenance lifestyle buyers are looking for near Downtown, Buffalo Bayou, Memorial Park, and major commuter routes. Recent improvements include new wood flooring, updated bathrooms, fresh interior paint, and exterior stucco refresh, giving this home a clean, move-in-ready feel. Motivated Seller.

4. 2026-04-20
   price $370,000 406-char remark

   Show marketing remark (406 chars)

   Freshly updated and ready for immediate move-in, this Houston townhome delivers the space, location, and low-maintenance lifestyle buyers are looking for near Downtown, Buffalo Bayou, Memorial Park, and major commuter routes. Recent improvements include new wood flooring, updated bathrooms, fresh interior paint, and exterior stucco refresh, giving this home a clean, move-in-ready feel. Motivated Seller.

5. 2026-04-02
   listed $375,000 Active 406-char remark

   Show marketing remark (406 chars)

   Freshly updated and ready for immediate move-in, this Houston townhome delivers the space, location, and low-maintenance lifestyle buyers are looking for near Downtown, Buffalo Bayou, Memorial Park, and major commuter routes. Recent improvements include new wood flooring, updated bathrooms, fresh interior paint, and exterior stucco refresh, giving this home a clean, move-in-ready feel. Motivated Seller.

6. 2026-01-22
   historical
7. 2025-11-14
   price $375,000
8. 2025-10-26
   price $385,000
9. 2025-10-03
   price $389,000
10. 2025-09-28
    historical $2,800
11. 2025-09-14
    listed $2,800
12. 2025-09-09
    listed $398,990 Active
13. 2025-06-18
    historical
14. 2025-06-05
    price $429,000
15. 2025-05-17
    price $438,000
16. 2025-05-07
    listed $445,000 Active
17. 2025-04-30
    historical
18. 2021-12-07
    soldstatus
19. 2021-12-06
    soldstatus Sold
20. 2021-11-07
    status Pending
21. 2021-10-26
    status Option Pending
22. 2021-09-10
    listed $379,000 Active
23. 2007-05-02
    soldstatus
24. 2004-07-06
    historical
25. 2004-04-10
    listed $244,900
26. 2001-04-27
    soldstatus

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $8,091 · $674/mo
• Projected year-2 tax: $8,091 · $674/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 22 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $48,514
• − Mortgage interest: −$20,446
• − Property taxes: −$8,091
• − Insurance: −$1,825
• − Repairs & maintenance: −$3,881
• − Management: −$3,881
• − HOA: −$2,604
• − Depreciation: −$10,618
• Taxable loss: −$2,832
• Est. tax savings @ 24.0%: +$680
• After-tax cash flow: $3,516/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Houston ISD
• NCES district ID: 4823640
• Math proficiency: 27% ▼ -18.00%
• Reading proficiency: 35% ▼ -6.00%
• Median HH income: $46,054
• Composite: 26.63/100
• National rank: #7173
• State rank: #593 of 826 in TX

Livability — Houston

• Score: 74/100
• State rank: #184
• US rank: #4771

Category grades

Amenities A+ Commute A Cost of living A+ Crime F Employment C Housing A+ Health & safety A- User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Houston, TX
• County: Harris County · 4,702,590 people
• City population: 3,226,434
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 47,808
• Household income: $144,911
• Rent vs Own: 53.8% rent · 46.2% own
• Severe rent burden: 1812.0

Population outlook (Harris County) Hauer SSP2

• Today (2025): 5,571,493 people
• By 2030: 6,089,821 · +9.3%
• By 2040: 7,142,806 · +28.2%
• By 2050: 8,185,864 · +46.9%
• By 2075: 10,574,329 · +89.8%
• By 2100: 12,109,958 · +117.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.63)
• Race & ethnicity: White 57% Hispanic / Latino 17% Two or more races 13% Asian 11% Black 9%
• Hispanic origin (detail): Mexican 12%
• Common ancestry: Slovak 3% Romanian 3% Italian 3%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 75% English-only · Spanish 12% Other Indo-European 4% Chinese 2%

Political lean MEDSL · Harris

• 2024 margin: Lean D (+5.5) · D 52.0% · R 46.4% · Other 1.6%
• 2008→2024 swing: +3.9pp toward D · 2008: 1.6pp · 2024: 5.5pp
• All cycles: 2024: D+5.5 2020: D+13.3 2016: D+12.4 2012: D+0.1 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -219.42%
• Current HPI: 159.8157
• Rent YoY: ▼ -0.83%
• Metro: Houston-The Woodlands-Sugar Land, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Price history

+49.0% since first listed

26 events — show timeline

• 2026-05-10 Pending — HARMLS
• 2026-05-02 Pending — HARMLS
• 2026-04-27 Price Changed $365,000 HARMLS
• 2026-04-20 Price Changed $370,000 HARMLS
• 2026-04-02 Listed $375,000 HARMLS
• 2026-01-22 Listing Removed — HARMLS
• 2025-11-14 Price Changed $375,000 HARMLS
• 2025-10-26 Price Changed $385,000 HARMLS
• 2025-10-03 Price Changed $389,000 HARMLS
• 2025-09-28 Rental Removed $2,800 HARMLS
• 2025-09-14 Listed for Rent $2,800 HARMLS
• 2025-09-09 Listed $398,990 HARMLS
• 2025-06-18 Listing Removed — HARMLS
• 2025-06-05 Price Changed $429,000 HARMLS
• 2025-05-17 Price Changed $438,000 HARMLS
• 2025-05-07 Listed $445,000 HARMLS
• 2025-04-30 Coming Soon — HARMLS
• 2021-12-07 Sold (Public Records) — Public Records
• 2021-12-06 Sold (MLS) — HARMLS
• 2021-11-07 Pending — HARMLS
• 2021-10-26 Pending — HARMLS
• 2021-09-10 Listed $379,000 HARMLS
• 2007-05-02 Sold (Public Records) — Public Records
• 2004-07-06 Listing Removed — HARMLS
• 2004-04-10 Listed $244,900 HARMLS
• 2001-04-27 Sold (Public Records) — Public Records

Property tax history

+1.7%/yr

Latest (2025): $8,091 · +0.5% YoY. Source: county tax records.