1224 Summer St · Houston, TX 77007

$495,000

3 bd · 3.5 ba · 2,455 sqft · SingleFamily public records · 37 Days on market

Built 2014 1,805 sqft lot $202/sqft · at area comps Est $511k · at est.

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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).

• Cash flow +11.3/30.0
• ARV discount +8.9/15.0
• 1% rule +3.9/10.0
• Livability +3.7/5.0
• DSCR +3.3/10.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks

Like new four-level home located on a quiet street in First Ward. No HOA. Property is situated outside of a special flood hazard area. Zoned to highly rated schools. Great investment for Airbnb. This 3-bedroom, 3.5-bath home offers a spacious layout designed to feel like a single-family residence. The first floor includes a guest bedroom with a separate side-garden entrance. The second floor features an open living area with wood flooring, a half bath, and a kitchen equipped with a gas stove and a mini fridge built into the island, along with access to a covered balcony. The third floor includes the primary suite with a bathroom featuring a separate shower and tub, as well as an additional

Key facts

• Wood flooring
• Highly rated schools
• Open living area

Tags

• HIGHLY RATED SCHOOLS
• GUEST BEDROOM
• SEPARATE SIDE-GARDEN ENTRANCE
• OPEN LIVING AREA
• WOOD FLOORING
• GAS STOVE

Property features AI

Exterior

• Parking: Attached garage with 2 parking spaces
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; Entry level(s) include first, second, and third levels
• Construction: Built in 2014; Brick construction; Shingle and wood roof; Slab foundation
• Exterior features: Deck; Rooftop; Corner lot; Side yard; Other lot features

Interior

• Kitchen: Gas cooktop; Electric oven; Microwave; Dishwasher; Disposal; Breakfast bar (kitchen-adjacent)
• Bedrooms: Primary bedroom on third level (approx. 14 x 14); Bedroom on third level (approx. 12 x 11); Bedroom on first level (approx. 12 x 12)
• Flooring: Wood flooring; Carpet
• Bathrooms: Three full bathrooms; One half bathroom
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Breakfast bar; Balcony; High ceilings
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $495k.

Deal economics

• At list price, monthly cash flow is $-185 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $462k (6.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $442k (10.6% below list).
• Recommended offer: $442k (10.6% below list) — sets the bar for 1% rule.
• Cap rate 5.8% vs local median 3.2% 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 at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 37% 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 $15k 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 37 days — a 3% lower offer ($480k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 12y 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: 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 $442,403 (10.6% 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. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
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: 5.85%
• Cash-on-cash: -1.60%
• DSCR: 0.93
• GRM: 9.3

CMA / ARV

• ARV (median comp): $511,017
• List price: $495,000
• Delta: -3.13%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1909 Hickory St	0.15mi	3/3.5	2,345 (-4%)	3mo	$419,900	$179	83
1702 Shearn St	0.32mi	3/3.5	2,465 (+0%)	3mo	$549,000	$223	82
1511 Alamo St	0.30mi	3/3.5	2,397 (-2%)	1mo	$499,999	$209	81
2020 Sabine St	0.39mi	3/3.0	2,485 (+1%)	4mo	$475,000	$191	75
1104 Dart St	0.22mi	3/2.5	2,580 (+5%)	3mo	$599,900	$233	74
1510 Johnson St	0.23mi	3/3.5	2,160 (-12%)	2mo	$475,000	$220	67
1211 Hickory St Unit D	0.29mi	3/3.5	2,099 (-14%)	1mo	$465,000	$222	62
2107 Crockett St	0.59mi	3/2.5	2,390 (-3%)	3mo	$535,000	$224	61
1819 Dart St	0.46mi	3/3.5	2,198 (-10%)	2mo	$449,000	$204	60
1817 Crockett St Unit C	0.41mi	3/3.5	2,132 (-13%)	3mo	$497,000	$233	57
2405 Freeman St	0.73mi	3/2.5	2,336 (-5%)	2mo	$425,000	$182	53
1706 Freeman Freeman St	0.62mi	3/2.5	2,207 (-10%)	1mo	$469,000	$213	50

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: -22.6%
• Equity multiple: 0.24×
• Total profit: $-104,703
• Equity at exit: $73,806

10-year hold

• IRR: -28.2%
• Equity multiple: -0.12×
• Total profit: $-155,495
• Equity at exit: $42,799

Cash invested: $138,600 (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: 9.3×

Monthly cashflow live

• Estimated rent: $4,424 high
• Mortgage (P&I): −$2,596
• Tax from tax record: −$877 /mo · $10,529/yr
• Insurance: −$206
• HOA: −$0
• Vacancy / Maint / Mgmt: −$929
• Net cashflow: $-185

Break-even live

Break-even rent $4,658

Max offer price $462,403

Occupancy floor 99%

Sensitivity live

Price	-10% $96	-5% $-44	+0% $-185	+5% $-325	+10% $-465
Rent	-10% $-534	-5% $-359	+0% $-185	+5% $-10	+10% $165
Rate	-1.0pp $65	-0.5pp $-59	base $-185	+0.5pp $-313	+1.0pp $-443

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: $123,750
• Closing costs: $14,850
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1510 Crockett St Houston, TX	2.0	3.0	1912	$2,800	$1.46	45d	1	0.19mi
1512 Crockett St Unit A Houston, TX	2.0	2.5	1808	$2,800	$1.55	45d	1	0.19mi
2114 Sabine St Unit 1257735P Houston, TX	3.0	3.5	2594	$6,588	$2.54	45d	1	0.41mi
2114 Sabine St Houston, TX	3.0	4.0	2020	$3,200	$1.58	45d	1	0.41mi
410 James St Houston, TX	3.0	2.0	1602	$6,750	$4.21	45d	1	0.48mi
410 James St Unit 1031793P Houston, TX	3.0	2.0	1593	$5,668	$3.56	1d	1	0.48mi
2018 Crockett St Unit 1029793P Houston, TX	3.0	3.5	2507	$6,482	$2.59	7d	1	0.54mi
2018 Crockett St Unit 2018 Houston, TX	3.0	3.5	2514	$8,000	$3.18	45d	1	0.54mi
2403 Everett St Unit A Houston, TX	3.0	3.5	2093	$2,800	$1.34	45d	1	0.79mi
150 Sabine St Houston, TX	1.0–2.0	1.0–2.0	1187	$2,882	$2.43	5d	15	0.81mi
414 Milam St Unit 3165 Houston, TX	3.0	2.0	2421	$9,002	$3.72	0d	1	0.83mi
414 Milam St Unit 437 Houston, TX	2.0	2.0	1585	$3,857	$2.43	13d	1	0.83mi
414 Milam St Unit 447 Houston, TX	3.0	2.0	2421	$8,973	$3.71	45d	1	0.83mi
414 Milam St Unit 447 Houston, TX	3.0	2.0	2421	$8,991	$3.71	13d	1	0.83mi
414 Milam St Unit 422 Houston, TX	2.0	2.0	1585	$3,833	$2.42	9d	1	0.83mi
414 Milam St Unit 2187 Houston, TX	2.0	2.0	1585	$3,857	$2.43	5d	1	0.83mi
414 Milam St Unit 2165 Houston, TX	2.0	2.0	1585	$3,817	$2.41	1d	1	0.83mi
414 Milam St Unit 510 Houston, TX	3.0	2.0	2421	$9,230	$3.81	16d	1	0.83mi
414 Milam St Unit 2162 Houston, TX	2.0	2.0	1585	$3,833	$2.42	7d	1	0.83mi
414 Milam St Unit 2148 Houston, TX	2.0	2.0	1585	$3,868	$2.44	0d	1	0.83mi
414 Milam St Ph 2-4602 Houston, TX	2.0	2.0	2158	$8,990	$4.17	45d	1	0.83mi
414 Milam St Houston, TX	2.0	2.5	1585	$3,845	$2.43	24d	1	0.83mi
414 Milam St Unit B1-2003 Houston, TX	2.0	2.0	1585	$4,513	$2.85	45d	1	0.83mi
909 Texas Ave Houston, TX	2.0	1.0–2.0	1262	$3,129	$2.48	3d	36	0.93mi
2013 Cochran St Houston, TX	3.0	4.0	1888	$2,600	$1.38	0d	1	0.96mi
915 Texas Ave Unit 420 Houston, TX	3.0	2.0	2366	$4,655	$1.97	45d	1	0.98mi
915 Texas Ave Unit 420 Houston, TX	3.0	2.0	2366	$4,655	$1.97	20d	1	0.98mi
717 Fannin St Houston, TX	2.0	2.0	1700	$3,800	$2.24	45d	1	1.13mi
2706 Cochran St Houston, TX	3.0	3.5	1791	$2,700	$1.51	21d	1	1.23mi
1475 Texas St Houston, TX	3.0	1.0–2.0	1304	$6,350	$4.87	45d	28	1.25mi
822 Ruthven St Houston, TX	2.0	2.0	1846	$2,400	$1.30	1d	1	1.28mi
1116 Woodland St Houston, TX	3.0	2.0	2400	$4,000	$1.67	45d	1	1.33mi
1399 Fannin St Houston, TX	2.0	2.0	1595	$3,846	$2.41	26d	1	1.36mi
15 N Chenevert St Houston, TX	2.0	1.0–2.0	1351	$4,000	$2.96	0d	16	1.37mi
1406 McKinney St Houston, TX	2.0	2.0	1987	$5,075	$2.55	26d	1	1.39mi
600 Studemont St Houston, TX	1.0–2.0	1.0–2.5	1227	$2,799	$2.28	1d	25	1.39mi
808 Crawford St Houston, TX	1.0–3.0	1.0–3.5	1740	$12,645	$7.27	0d	27	1.40mi
1400 McKinney St Houston, TX	1.0–2.0	1.0–2.5	2166	$12,100	$5.59	0d	9	1.41mi
1801 Smith St Houston, TX	2.0	1.0–2.5	1110	$4,867	$4.38	0d	27	1.44mi
1757 Walker St Houston, TX	2.0	2.0	1575	$4,350	$2.76	26d	1	1.44mi

Listing history 50 events

1. 2026-06-21
   days on market $495,000 Active 37 DOM
2. 2026-06-18
   days on market $495,000 Active 34 DOM
3. 2026-06-17
   days on market $495,000 Active 33 DOM
4. 2026-06-16
   days on market $495,000 Active 32 DOM
5. 2026-06-15
   days on market $495,000 Active 31 DOM
6. 2026-06-13
   days on market $495,000 Active 29 DOM
7. 2026-06-10
   days on market $495,000 Active 25 DOM
8. 2026-06-08
   days on market $495,000 Active 24 DOM
9. 2026-06-07
   days on market $495,000 Active 23 DOM
10. 2026-06-04
    days on market $495,000 Active 20 DOM
11. 2026-06-01
    days on market $495,000 Active 17 DOM
12. 2026-05-31
    days on market $495,000 Active 16 DOM
13. 2026-05-15
    listed $495,000 Active 982-char remark
14. 2026-05-15
    historical
15. 2026-05-09
    price $495,000
16. 2026-04-13
    price $549,000
17. 2026-03-31
    listed $549,999 Active
18. 2026-03-23
    historical
19. 2026-02-23
    listed $549,999 Active
20. 2026-02-23
    historical
21. 2026-01-26
    price $549,999
22. 2026-01-26
    listed $449,999 Active
23. 2025-11-11
    historical $2,999
24. 2025-09-26
    price $2,999
25. 2025-09-17
    price $3,399
26. 2025-08-20
    price $3,499
27. 2025-08-05
    listed $3,700
28. 2022-04-07
    soldstatus
29. 2022-04-05
    soldstatus Sold
30. 2022-03-09
    status Pending
31. 2022-03-01
    status Option Pending
32. 2022-02-24
    status Active
33. 2022-01-30
    status Pending
34. 2022-01-18
    status Option Pending
35. 2022-01-12
    status Pending
36. 2022-01-06
    status Option Pending
37. 2022-01-03
    historical
38. 2021-11-27
    listed $495,000 Active
39. 2021-11-20
    historical
40. 2021-10-27
    status Active
41. 2021-10-20
    status Option Pending
42. 2021-10-06
    status Active
43. 2021-10-01
    status Option Pending
44. 2021-08-04
    price $469,000
45. 2021-07-07
    listed $480,000 Active
46. 2014-11-19
    soldstatus Sold
47. 2014-10-27
    historical
48. 2014-10-27
    listed $469,000
49. 1997-03-31
    soldstatus
50. 1997-03-31
    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: $10,529 · $877/mo
• Projected year-2 tax: $10,529 · $877/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 (shaded) · 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: $53,088
• − Mortgage interest: −$27,728
• − Property taxes: −$10,529
• − Insurance: −$2,475
• − Repairs & maintenance: −$4,247
• − Management: −$4,247
• − Depreciation: −$14,400
• Taxable loss: −$10,538
• Est. tax savings @ 24.0%: +$2,529
• After-tax cash flow: $315/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

+5.5% since first listed

39 events — show timeline

• 2026-05-15 Listing Removed — HARMLS
• 2026-05-15 Listed $495,000 HARMLS
• 2026-05-09 Price Changed $495,000 HARMLS
• 2026-04-13 Price Changed $549,000 HARMLS
• 2026-03-31 Listed $549,999 HARMLS
• 2026-03-23 Listing Removed — HARMLS
• 2026-02-23 Listing Removed — HARMLS
• 2026-02-23 Listed $549,999 HARMLS
• 2026-01-26 Price Changed $549,999 HARMLS
• 2026-01-26 Listed $449,999 HARMLS
• 2025-11-11 Rental Removed $2,999 HARMLS
• 2025-09-26 Price Changed $2,999 HARMLS
• 2025-09-17 Price Changed $3,399 HARMLS
• 2025-08-20 Price Changed $3,499 HARMLS
• 2025-08-05 Listed for Rent $3,700 HARMLS
• 2022-04-07 Sold (Public Records) — Public Records
• 2022-04-05 Sold (MLS) — HARMLS
• 2022-03-09 Pending — HARMLS
• 2022-03-01 Pending — HARMLS
• 2022-02-24 Relisted — HARMLS
• 2022-01-30 Pending — HARMLS
• 2022-01-18 Pending — HARMLS
• 2022-01-12 Pending — HARMLS
• 2022-01-06 Pending — HARMLS
• 2022-01-03 Listing Removed — HARMLS
• 2021-11-27 Listed $495,000 HARMLS
• 2021-11-20 Listing Removed — HARMLS
• 2021-10-27 Relisted — HARMLS
• 2021-10-20 Pending — HARMLS
• 2021-10-06 Relisted — HARMLS
• 2021-10-01 Pending — HARMLS
• 2021-08-04 Price Changed $469,000 HARMLS
• 2021-07-07 Listed $480,000 HARMLS
• 2014-11-19 Sold (MLS) — HARMLS
• 2014-10-27 Listed $469,000 HARMLS
• 2014-10-27 Listing Removed — HARMLS
• 1997-03-31 Sold (Public Records) — Public Records
• 1997-03-31 Sold (Public Records) — Public Records
• 1997-03-31 Sold (Public Records) — Public Records

Property tax history

+17.7%/yr

Latest (2025): $10,529 · +2.2% YoY. Source: county tax records.