1604 Ovid St Unit B · Houston, TX 77007

$575,000

3 bd · 3.5 ba · 2,822 sqft · SingleFamily public records · 14 Days on market

Built 2016 2,051 sqft lot Est $669k · 14% under $83/mo HOA · 2% of rent

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Why this score? — see what drove the D 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).

• ARV discount +13.8/15.0
• Cash flow +11.0/30.0
• 1% rule +3.9/10.0
• Livability +3.7/5.0
• DSCR +3.2/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Rare opportunity! Fabulous home with a fine modern look. Fantastic corner unit and located in a gated community. Just steps away from the hike and bike trails, close to downtown, restaurants and fabulous shopping. Spectacular floorplan and great for entertaining. Charming formals offering a spacious dining room & family room. Gorgeous floors throughout, custom fixtures and designer elements. Gourmet kitchen which offers Quartzite countertops, oversized island, stainless commercial grade appliances and custom cabinets. The primary bathroom offers a large tub, separate shower, dual sinks & large custom closets. Fabulous outdoor rooftop terrace with amazing downtown views. This hom

Key facts

• Gated community
• Hike and bike trails
• Downtown views

Tags

• GATED COMMUNITY
• HIKE AND BIKE TRAILS
• OUTDOOR ROOFTOP TERRACE
• DOWNTOWN VIEWS
• BALCONY OFF THE KITCHEN
• FIRST FLOOR OUTDOOR PATIO

Property features AI

Finance

• HOA & community: Ovid Court HOA with an annual fee of $1,000

Exterior

• Parking: Attached 2-car garage; Electric gate; Attached garage access
• Security: Security gate; Property prewired for security
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 2016; Slab foundation; Composition roof; Structural insulated panel construction; Stucco exterior
• Construction: Built in 2016; Stucco and structural insulated panels
• Exterior features: Deck; Patio; Rooftop deck; Private yard

Interior

• Kitchen: Gas cooktop; Electric oven; Dishwasher; Microwave; Garbage disposal
• Bedrooms: Primary bedroom (Third level, 19 x 15); Bedroom (Third level, 13 x 12); Bedroom (First level, 15 x 14)
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Double vanity; High ceilings; Quartz counters; Separate shower; Ceiling fans; Programmable thermostat; ENERGY STAR qualified appliances
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $575k.

Deal economics

• At list price, monthly cash flow is $-239 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $533k (7.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $512k (10.9% below list).
• Recommended offer: $512k (10.9% below list) — sets the bar for 1% rule.
• Cap rate 5.8% 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: 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).
• Zoned-school proficiency averages 44% at this address vs 31% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Houston ISD average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents soft (-0.8%/yr); 646 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% 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 42% 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 $4k of loan paydown is wiped out by about $17k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $512,172 (10.9% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 5.79%
• Cash-on-cash: -1.78%
• DSCR: 0.92
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $668,814
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1511 Crockett St Unit A	0.19mi	4/3.5 (+1)	2,991 (+6%)	4mo	$599,000	$200	73
1702 Shearn St	0.12mi	3/3.5	2,465 (-13%)	3mo	$549,000	$223	71
2020 Sabine St	0.11mi	3/3.0	2,485 (-12%)	4mo	$475,000	$191	70
1308 Edwards Unit B	0.41mi	4/4.5 (+1)	2,840 (+1%)	3mo	$799,900	$282	68
912 Teetshorn St	0.71mi	3/2.5	2,814 (-0%)	2mo	$1,149,000	$408	61
2713 Beauchamp St	0.49mi	4/3.5 (+1)	3,002 (+6%)	1mo	$1,059,900	$353	61
1411 Beachton St	0.49mi	3/4.5	2,988 (+6%)	4mo	$559,000	$187	60
2715 Beauchamp St	0.49mi	4/3.5 (+1)	3,002 (+6%)	2mo	$1,059,900	$353	60
3012 Beauchamp St	0.67mi	3/4.0	2,704 (-4%)	1mo	$1,195,000	$442	59
1104 Dart St	0.53mi	3/2.5	2,580 (-9%)	3mo	$599,900	$233	54
1315 Bingham St	0.37mi	3/2.5	2,454 (-13%)	5mo	$500,000	$204	53
1110 Dart St	0.52mi	3/2.5	2,532 (-10%)	6mo	$599,900	$237	49

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: -22.9%
• Equity multiple: 0.24×
• Total profit: $-123,150
• Equity at exit: $85,734

10-year hold

• IRR: -29.0%
• Equity multiple: -0.14×
• Total profit: $-183,769
• Equity at exit: $49,715

Cash invested: $161,000 (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: 646
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $5,122 high
• Mortgage (P&I): −$3,015
• Tax from tax record: −$947 /mo · $11,369/yr
• Insurance: −$240
• HOA: −$83
• Vacancy / Maint / Mgmt: −$1,076
• Net cashflow: $-239

Break-even live

Break-even rent $5,425

Max offer price $532,745

Occupancy floor 100%

Sensitivity live

Price	-10% $86	-5% $-76	+0% $-239	+5% $-402	+10% $-565
Rent	-10% $-644	-5% $-442	+0% $-239	+5% $-37	+10% $165
Rate	-1.0pp $50	-0.5pp $-93	base $-239	+0.5pp $-388	+1.0pp $-540

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: $143,750
• Closing costs: $17,250
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2114 Sabine St Unit 1257735P Houston, TX	3.0	3.5	2594	$6,588	$2.54	44d	1	0.11mi
2114 Sabine St Houston, TX	3.0	4.0	2020	$3,200	$1.58	44d	1	0.11mi
2018 Crockett St Unit 1029793P Houston, TX	3.0	3.5	2507	$6,482	$2.59	6d	1	0.33mi
2018 Crockett St Unit 2018 Houston, TX	3.0	3.5	2514	$8,000	$3.18	44d	1	0.33mi
2403 Everett St Unit A Houston, TX	3.0	3.5	2093	$2,800	$1.34	44d	1	0.80mi
1116 Woodland St Houston, TX	3.0	2.0	2400	$4,000	$1.67	44d	1	1.02mi
414 Milam St Unit 447 Houston, TX	3.0	2.0	2421	$8,973	$3.71	44d	1	1.13mi
414 Milam St Unit 510 Houston, TX	3.0	2.0	2421	$9,230	$3.81	14d	1	1.13mi
414 Milam St Unit 3165 Houston, TX	3.0	2.0	2421	$8,997	$3.72	0d	1	1.13mi
414 Milam St Unit 447 Houston, TX	3.0	2.0	2421	$8,991	$3.71	11d	1	1.13mi
414 Milam St Ph 2-4602 Houston, TX	2.0	2.0	2158	$8,990	$4.17	44d	1	1.13mi
909 Texas Ave Houston, TX	2.0	1.0–2.0	1262	$3,129	$2.48	2d	36	1.23mi
401 Walton St Houston, TX	3.0	2.0	2112	$2,500	$1.18	15d	1	1.27mi
915 Texas Ave Unit 420 Houston, TX	3.0	2.0	2366	$4,655	$1.97	19d	1	1.28mi
915 Texas Ave Unit 420 Houston, TX	3.0	2.0	2366	$4,655	$1.97	44d	1	1.28mi
3131 Memorial Ct Houston, TX	2.0	1.0–2.5	1336	$3,346	$2.50	0d	31	1.35mi
710 Stanford St Houston, TX	3.0	4.0	2438	$3,490	$1.43	44d	1	1.50mi

HOA detail

• Monthly dues: $83 · $996/yr
• Likely covers: security

Listing history 9 events

1. 2026-06-18
   days on market $575,000 Active 14 DOM
2. 2026-06-17
   days on market $575,000 Active 13 DOM
3. 2026-06-16
   days on market $575,000 Active 12 DOM
4. 2026-06-15
   days on market $575,000 Active 11 DOM
5. 2026-06-13
   days on market $575,000 Active 9 DOM
6. 2026-06-09
   days on market $575,000 Active 5 DOM
7. 2026-06-08
   days on market $575,000 Active 4 DOM
8. 2026-06-07
   remarks 691-char remark
9. 2026-06-07
   listed $575,000 Active 3 DOM

ⓘ 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: $11,369 · $947/mo
• Projected year-2 tax: $11,369 · $947/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 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°F today · 24 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: $61,461
• − Mortgage interest: −$32,209
• − Property taxes: −$11,369
• − Insurance: −$2,875
• − Repairs & maintenance: −$4,917
• − Management: −$4,917
• − HOA: −$996
• − Depreciation: −$16,727
• Taxable loss: −$12,549
• Est. tax savings @ 24.0%: +$3,012
• After-tax cash flow: $141/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

1 event — show timeline

• 2026-06-04 Listed $575,000 HARMLS

Property tax history

+0.1%/yr

Latest (2025): $11,369 · -1.8% YoY. Source: county tax records.