1929 Summer St · Houston, TX 77007

$449,000

3 bd · 3.5 ba · 2,074 sqft · SingleFamily public records · 142 Days on market

Built 2007 1,526 sqft lot $216/sqft · at area comps Est $428k · at est. $300/mo HOA · 6% 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).

• Cash flow +13.5/30.0
• 1% rule +5.3/10.0
• ARV discount +5.3/15.0
• DSCR +4.1/10.0
• 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

Fabulous home located in a gated community (w/POOL!). Prime corner lot (one of few units that sides to the pool & has its own private double-wide driveway!). Whole house generator, NEW roof ('25), newer water heaters, new carpet, fresh interior paint. Incredible spacious rooftop terrace offers a to-die-for Downtown skyline view! 2nd floor open-concept layout w/seamless flow between the kitchen, living, & dining areas—perfect for entertaining & filled w/natural light.Updated kitchen w/quartz counters & newer appliances. Primary suite w/en suite bath w/separate tub & shower. 2 add'l beds on 1st & 3rd floor each w/own bath. LOTS of added built-in storage throughout. Wooden 1st fl deck/room for garden. Situated in an unbeatable walkable location: minutes from TONS of popular dining/nightlife/coffee shops/breweries/art galleries in Sawyer Heights District & dynamic Washington Corridor. Easy access to major freeways & convenient commute to Downtown & hike/bike trails. A must view!

Key facts

• Gated community
• New roof
• $300 HOA

Tags

• GATED COMMUNITY
• PRIVATE DOUBLE-WIDE DRIVEWAY
• WHOLE HOUSE GENERATOR
• NEW ROOF
• SPACIOUS ROOFTOP TERRACE
• DOWNTOWN SKYLINE VIEW

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $449k.

Deal economics

• At list price, monthly cash flow is $13 ($161/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $449k).
• Recommended offer: $395k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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: schools D, 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.
• Market conditions: Rents soft (-0.8%/yr); 646 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 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 38% 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 $13k 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 142 days — a 12% lower offer ($395k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $26k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: 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 $395,120 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.03% ✓
• Cap rate: 6.33%
• Cash-on-cash: 0.13%
• DSCR: 1.01
• GRM: 8.1

CMA / ARV

• ARV (median comp): $428,427
• List price: $449,000
• Delta: 4.80%
• 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
1817 Crockett St Unit C	0.09mi	3/3.5	2,132 (+3%)	3mo	$497,000	$233	89
1510 Johnson St	0.26mi	3/3.5	2,160 (+4%)	2mo	$475,000	$220	79
1211 Hickory St Unit D	0.43mi	3/3.5	2,099 (+1%)	1mo	$465,000	$222	78
1819 Dart St	0.24mi	3/3.5	2,198 (+6%)	2mo	$449,000	$204	77
1810 Kane St	0.43mi	4/2.5 (+1)	2,050 (-1%)	2mo	$825,000	$402	67
1818 Decatur St	0.37mi	3/3.0	2,199 (+6%)	4mo	$700,000	$318	67
2011 Crockett St	0.08mi	3/2.5	1,772 (-15%)	1mo	$610,000	$344	67
1602 Colorado St	0.19mi	2/2.0 (-1)	1,842 (-11%)	0mo	$329,000	$179	61
823 Sledge St	0.68mi	3/2.0	2,098 (+1%)	3mo	$950,000	$453	58
1909 Hickory St	0.41mi	3/3.5	2,345 (+13%)	3mo	$419,900	$179	56
1618 Weber St	0.39mi	3/2.0	1,774 (-14%)	2mo	$499,000	$281	50
2621 Morrison St	0.72mi	3/2.0	1,838 (-11%)	4mo	$795,000	$433	38

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: -20.0%
• Equity multiple: 0.32×
• Total profit: $-85,086
• Equity at exit: $66,947

10-year hold

• IRR: -23.4%
• Equity multiple: 0.01×
• Total profit: $-123,858
• Equity at exit: $38,821

Cash invested: $125,720 (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: 8.1×

Monthly cashflow live

• Estimated rent: $4,637 high
• Mortgage (P&I): −$2,355
• Tax from tax record: −$808 /mo · $9,697/yr
• Insurance: −$187
• HOA: −$300
• Vacancy / Maint / Mgmt: −$974
• Net cashflow: $13

Break-even live

Break-even rent $4,620

Max offer price $449,000

Occupancy floor 95%

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: $112,250
• Closing costs: $13,470
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2018 Crockett St Unit 1029793P Houston, TX	3.0	3.5	2507	$6,482	$2.59	5d	1	0.09mi
2018 Crockett St Unit 2018 Houston, TX	3.0	3.5	2514	$8,000	$3.18	44d	1	0.09mi
2114 Sabine St Houston, TX	3.0	4.0	2020	$3,200	$1.58	44d	1	0.26mi
2114 Sabine St Unit 1257735P Houston, TX	3.0	3.5	2594	$6,588	$2.54	44d	1	0.26mi
1512 Crockett St Unit A Houston, TX	2.0	2.5	1808	$2,800	$1.55	44d	1	0.31mi
1510 Crockett St Houston, TX	2.0	3.0	1912	$2,800	$1.46	44d	1	0.32mi
825 Usener St Houston, TX	2.0	1.0–2.0	1050	$2,925	$2.79	2d	27	0.53mi
150 Sabine St Houston, TX	1.0–2.0	1.0–2.0	1187	$2,882	$2.43	3d	15	0.77mi
3010 S Heights Hollow Ln Houston, TX	2.0	2.0	1442	$2,400	$1.66	44d	1	0.80mi
616 Memorial Heights Dr Houston, TX	1.0–2.0	1.0–2.0	1070	$2,249	$2.10	2d	46	0.87mi
3275 Summer St Houston, TX	1.0–2.0	1.0–2.5	995	$2,570	$2.58	3d	17	0.89mi
410 James St Houston, TX	3.0	2.0	1602	$6,750	$4.21	44d	1	0.92mi
410 James St Unit 1031793P Houston, TX	3.0	2.0	1593	$7,554	$4.74	16d	1	0.92mi
600 Studemont St Houston, TX	1.0–2.0	1.0–2.5	1227	$2,799	$2.28	3d	24	0.95mi
3009 Memorial Ct Houston, TX	2.0	2.0	1548	$2,510	$1.62	44d	1	0.98mi
1116 Woodland St Houston, TX	3.0	2.0	2400	$4,000	$1.67	44d	1	1.02mi
1625 N Main St Houston, TX	3.0	1.0–3.0	994	$2,354	$2.37	3d	42	1.03mi
3131 Memorial Ct Houston, TX	2.0	1.0–2.5	1336	$3,418	$2.56	2d	32	1.04mi
2403 Everett St Unit A Houston, TX	3.0	3.5	2093	$2,800	$1.34	44d	1	1.12mi
414 Milam St Unit 3165 Houston, TX	3.0	2.0	2421	$8,959	$3.70	3d	1	1.13mi
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 2162 Houston, TX	2.0	2.0	1585	$3,833	$2.42	5d	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 Unit 2187 Houston, TX	2.0	2.0	1585	$3,857	$2.43	3d	1	1.13mi
414 Milam St Unit 422 Houston, TX	2.0	2.0	1585	$3,833	$2.42	8d	1	1.13mi
414 Milam St Unit 437 Houston, TX	2.0	2.0	1585	$3,857	$2.43	11d	1	1.13mi
414 Milam St Unit 2165 Houston, TX	2.0	2.0	1585	$3,868	$2.44	5d	1	1.13mi
414 Milam St Unit 2148 Houston, TX	2.0	2.0	1585	$3,825	$2.41	3d	1	1.13mi
225 S Heights Blvd Houston, TX	3.0	1.0–2.0	1186	$3,085	$2.60	2d	18	1.14mi
414 Milam St Ph 2-4602 Houston, TX	2.0	2.0	2158	$8,990	$4.17	44d	1	1.14mi
414 Milam St Houston, TX	2.0	2.5	1585	$3,845	$2.43	22d	1	1.14mi
414 Milam St Unit B1-2003 Houston, TX	2.0	2.0	1585	$4,513	$2.85	44d	1	1.14mi
2121 Allen Pkwy Houston, TX	1.0–3.0	1.0–3.0	1207	$3,085	$2.55	2d	42	1.18mi
1308 Andrews St Houston, TX	3.0	2.0	1444	$3,300	$2.29	44d	1	1.19mi
710 Stanford St Houston, TX	3.0	4.0	2438	$3,490	$1.43	44d	1	1.19mi
909 Texas Ave Houston, TX	2.0	1.0–2.0	1262	$3,129	$2.48	2d	36	1.23mi
409 Travis St Unit 432 Houston, TX	2.0	2.0	1495	$3,316	$2.22	11d	1	1.23mi
409 Travis St Unit 424 Houston, TX	2.0	2.0	1495	$3,292	$2.20	8d	1	1.23mi
409 Travis St Unit 425 Houston, TX	2.0	2.0	1495	$3,284	$2.20	3d	1	1.23mi

HOA detail

• Monthly dues: $300 · $3,600/yr
• Likely covers: waterpoolsecurity

Listing history 18 events

1. 2026-06-18
   days on market $449,000 Active 142 DOM
2. 2026-06-17
   days on market $449,000 Active 141 DOM
3. 2026-06-16
   days on market $449,000 Active 140 DOM
4. 2026-06-15
   days on market $449,000 Active 139 DOM
5. 2026-06-13
   days on market $449,000 Active 137 DOM
6. 2026-06-10
   days on market $449,000 Active 133 DOM
7. 2026-06-08
   days on market $449,000 Active 132 DOM
8. 2026-06-07
   days on market $449,000 Active 131 DOM
9. 2026-06-04
   days on market $449,000 Active 128 DOM
10. 2026-06-01
    days on market $449,000 Active 125 DOM
11. 2026-05-31
    days on market $449,000 Active 124 DOM
12. 2026-03-11
    price $449,000 1031-char remark

    Show marketing remark (1031 chars)

    Fabulous home located in a gated community (w/POOL!). Prime corner lot (one of few units that sides to the pool & has its own private double-wide driveway!). Whole house generator, NEW roof ('25), newer water heaters, new carpet, fresh interior paint. Incredible spacious rooftop terrace offers a to-die-for Downtown skyline view! 2nd floor open-concept layout w/seamless flow between the kitchen, living, & dining areas—perfect for entertaining & filled w/natural light.Updated kitchen w/quartz counters & newer appliances. Primary suite w/en suite bath w/separate tub & shower. 2 add'l beds on 1st & 3rd floor each w/own bath. LOTS of added built-in storage throughout. Wooden 1st fl deck/room for garden. Situated in an unbeatable walkable location: minutes from TONS of popular dining/nightlife/coffee shops/breweries/art galleries in Sawyer Heights District & dynamic Washington Corridor. Easy access to major freeways & convenient commute to Downtown & hike/bike trails. A must view!

13. 2026-01-27
    listed $475,000 Active 1031-char remark

    Show marketing remark (1031 chars)

    Fabulous home located in a gated community (w/POOL!). Prime corner lot (one of few units that sides to the pool & has its own private double-wide driveway!). Whole house generator, NEW roof ('25), newer water heaters, new carpet, fresh interior paint. Incredible spacious rooftop terrace offers a to-die-for Downtown skyline view! 2nd floor open-concept layout w/seamless flow between the kitchen, living, & dining areas—perfect for entertaining & filled w/natural light.Updated kitchen w/quartz counters & newer appliances. Primary suite w/en suite bath w/separate tub & shower. 2 add'l beds on 1st & 3rd floor each w/own bath. LOTS of added built-in storage throughout. Wooden 1st fl deck/room for garden. Situated in an unbeatable walkable location: minutes from TONS of popular dining/nightlife/coffee shops/breweries/art galleries in Sawyer Heights District & dynamic Washington Corridor. Easy access to major freeways & convenient commute to Downtown & hike/bike trails. A must view!

14. 2014-10-31
    soldstatus
15. 2014-10-30
    soldstatus Sold 363-char remark

    Show marketing remark (363 chars)

    Beautiful townhome, well maintained by its original owners! one bedroom down, tiled, could be used as a small den; two bedrooms up, and a roof top terrace with terrific views of the Downtown skyline -- Gated community with POOL and hot tub -- Great location with several dining options nearby, easy freeway access, and close to Downtown and the Theater District!!

16. 2014-10-16
    status Pending, Continue to Show 363-char remark

    Show marketing remark (363 chars)

    Beautiful townhome, well maintained by its original owners! one bedroom down, tiled, could be used as a small den; two bedrooms up, and a roof top terrace with terrific views of the Downtown skyline -- Gated community with POOL and hot tub -- Great location with several dining options nearby, easy freeway access, and close to Downtown and the Theater District!!

17. 2014-10-02
    status Option Pending 363-char remark

    Show marketing remark (363 chars)

    Beautiful townhome, well maintained by its original owners! one bedroom down, tiled, could be used as a small den; two bedrooms up, and a roof top terrace with terrific views of the Downtown skyline -- Gated community with POOL and hot tub -- Great location with several dining options nearby, easy freeway access, and close to Downtown and the Theater District!!

18. 2014-09-25
    listed $349,900 Active 363-char remark

    Show marketing remark (363 chars)

    Beautiful townhome, well maintained by its original owners! one bedroom down, tiled, could be used as a small den; two bedrooms up, and a roof top terrace with terrific views of the Downtown skyline -- Gated community with POOL and hot tub -- Great location with several dining options nearby, easy freeway access, and close to Downtown and the Theater District!!

ⓘ 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: $9,697 · $808/mo
• Projected year-2 tax: $9,697 · $808/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 · 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: $55,644
• − Mortgage interest: −$25,151
• − Property taxes: −$9,697
• − Insurance: −$2,245
• − Repairs & maintenance: −$4,451
• − Management: −$4,451
• − HOA: −$3,600
• − Depreciation: −$13,062
• Taxable loss: −$7,014
• Est. tax savings @ 24.0%: +$1,683
• After-tax cash flow: $1,844/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

+28.3% since first listed

7 events — show timeline

• 2026-03-11 Price Changed $449,000 HARMLS
• 2026-01-27 Listed $475,000 HARMLS
• 2014-10-31 Sold (Public Records) — Public Records
• 2014-10-30 Sold (MLS) — HARMLS
• 2014-10-16 Pending — HARMLS
• 2014-10-02 Pending — HARMLS
• 2014-09-25 Listed $349,900 HARMLS

Property tax history

+1.6%/yr

Latest (2025): $9,697 · +8.0% YoY. Source: county tax records.