7957 Joy St · Houston, TX 77028

$160,000

2 bd · 1.0 ba · 1,428 sqft · SingleFamily public records · 66 Days on market

Built 1940 4,917 sqft lot $112/sqft · 36% below area Est $252k · 36% under ↓ 11% since listing

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Why this score? — see what drove the B- 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 +19.8/30.0
• ARV discount +15.0/15.0
• Appreciation +7.6/10.0
• DSCR +6.3/10.0
• 1% rule +5.7/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0

Listing remarks

Prime Houston Investment Opportunity - Minutes from Downtown! Discover the potential of this property in close proximity to Downtown Houston, the University of Houston and the Medical Center, perfectly positioned in a rapidly growing area surrounded by new developments. This home features four spacious bedrooms, two bathrooms, and a charming covered front porch, gated parking space for two cars, and a storage shed in the back. The property needs repairs. It's secured partially by wood picket and metal fence. According to public records, the parcel measures 40ft front by 123 deep, offering a unique canvas for your imagination and "big thing" visions. Whether you're looking for a s

Key facts

• Covered front porch
• Gated parking space
• Storage shed

Tags

• COVERED FRONT PORCH
• GATED PARKING SPACE
• STORAGE SHED
• WOOD PICKET FENCE
• METAL FENCE
• CLOSE PROXIMITY TO DOWNTOWN

Property features AI

Finance

• Other: Lot dimensions approximately 40 x 123 (about 0.11 acres); Living area listed as 1,428

Exterior

• Parking: No parking available
• Utilities: Public water; Public sewer; Concrete road access
• Home design: Residential property; Single-story entry (all main rooms listed on first floor); Full ownership
• Construction: Built in 1940; Cement and wood siding; Composition roof; Block foundation
• Exterior features: Fully fenced yard; Private yard; Porch; Storage shed(s)

Interior

• Kitchen: Electric range
• Bedrooms: Primary bedroom (First floor) — 19 x 12; Bedroom (First floor) — 15 x 12; Bedroom (First floor) — 12 x 11; Bedroom (First floor) — 11 x 10
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms
• Interior features: Tub with shower; Kitchen and dining combined

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $160k).
• Recommended offer: $150k (6.0% below list) — sets the bar for market timing.

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: Elmore El (math 12% / reading 14%, grade F, #4,152 of 4,322 statewide, top 96%, 532 students, 99% FRL); Key Middle (math 10% / reading 20%, grade F, #1,569 of 1,662 statewide, top 95%, 615 students, 100% FRL); Kashmere H S (math 14% / reading 22%, grade F, #1,445 of 1,632 statewide, top 89%, 725 students, 96% FRL) — zoned schools average 98% FRL vs 71% district-wide (27 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 15% at this address vs 31% district-wide (-16 pts) — the specific schools serving this property underperform the Houston ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-1.6%/yr); 356 active listings in the ZIP; 36 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($1k loan paydown + $8k appreciation (5.2% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (5.2% appreciation + 0.0% rent growth), your $45k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask has dropped $20k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• 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 $150,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 1.07% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.12%
• DSCR: 1.23
• GRM: 7.8

CMA / ARV

• ARV (median comp): $251,824
• List price: $160,000
• Delta: -36.46%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8008 Sunbury St	0.31mi	3/2.5 (+1)	1,553 (+9%)	1mo	$266,000	$171	59
8022 Sunbury St	0.32mi	3/2.5 (+1)	1,553 (+9%)	4mo	$279,900	$180	56
8002 Carolwood Dr	0.72mi	3/2.0 (+1)	1,450 (+2%)	4mo	$194,900	$134	52
7930 Carolwood Dr	0.70mi	3/1.5 (+1)	1,366 (-4%)	3mo	$99,900	$73	50
7963 Miley St	0.59mi	3/2.0 (+1)	1,550 (+8%)	4mo	$285,000	$184	46
7832 Dewitt St	0.56mi	3/2.0 (+1)	1,594 (+12%)	1mo	$264,900	$166	44
7546 Delavan Dr	0.73mi	3/2.5 (+1)	1,505 (+5%)	4mo	$289,999	$193	43
7714 N Howton St	0.54mi	3/2.0 (+1)	1,615 (+13%)	4mo	$270,000	$167	40
6111 Haight St	0.60mi	3/2.5 (+1)	1,627 (+14%)	3mo	$274,000	$168	35
7941 Attwater St	0.66mi	3/2.5 (+1)	1,614 (+13%)	5mo	$235,000	$146	33
7939 Carolwood Dr	0.73mi	3/2.0 (+1)	1,620 (+13%)	2mo	$122,900	$76	32
5915 Haight St	0.74mi	3/2.5 (+1)	1,627 (+14%)	2mo	$282,000	$173	30

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

Projected returns pro-forma

5.25% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 16.3%
• Equity multiple: 2.03×
• Total profit: $46,340
• Equity at exit: $93,061

10-year hold

• IRR: 15.4%
• Equity multiple: 3.68×
• Total profit: $120,088
• Equity at exit: $162,622

Cash invested: $44,800 (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 77028

• Home prices YoY: 2.0%
• Rents YoY: -1.6%
• Active inventory: 356
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,713 high
• Mortgage (P&I): −$839
• Tax from tax record: −$256 /mo · $3,077/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $191

Break-even live

Break-even rent $1,471

Max offer price $160,000

Occupancy floor 84%

Sensitivity live

Price	-10% $282	-5% $236	+0% $191	+5% $146	+10% $101
Rent	-10% $56	-5% $123	+0% $191	+5% $259	+10% $326
Rate	-1.0pp $272	-0.5pp $232	base $191	+0.5pp $150	+1.0pp $108

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: $40,000
• Closing costs: $4,800
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7973 Ritz St Houston, TX	3.0	2.0	1076	$2,250	$2.09	10d	1	0.08mi
7945 Henson St Houston, TX	3.0	2.0	1300	$1,665	$1.28	2d	1	0.18mi
7947 Henson St Houston, TX	3.0	2.0	1090	$1,349	$1.24	8d	1	0.18mi
7966 Henson St Unit B Houston, TX	3.0	2.0	1608	$1,410	$0.88	46d	1	0.21mi
7830 Nashville St Houston, TX	3.0	2.0	1175	$1,800	$1.53	10d	1	0.24mi
8158 Sunbury St Houston, TX	3.0	2.5	1300	$1,525	$1.17	27d	1	0.44mi
8135 Chateau St Houston, TX	3.0	3.0	1610	$1,645	$1.02	13d	1	0.48mi
8117 Saint Louis St Houston, TX	3.0	2.0	1090	$1,335	$1.22	24d	1	0.50mi
8119 Saint Louis St Houston, TX	3.0	2.0	1090	$1,349	$1.24	46d	1	0.50mi
8102 Crestview Dr Unit A Houston, TX	3.0	2.5	1800	$1,900	$1.06	24d	1	0.76mi
8102 Crestview Dr Unit B Houston, TX	3.0	2.5	1600	$1,900	$1.19	46d	1	0.76mi
7804 Crestview Dr Unit A Houston, TX	3.0	2.0	1150	$1,550	$1.35	24d	1	0.77mi
8113 Denton St Houston, TX	3.0	2.0	1150	$1,750	$1.52	46d	1	0.79mi
7839 Sandy St Houston, TX	3.0	2.0	1300	$1,575	$1.21	2d	1	0.84mi
8309 Carolwood Dr Houston, TX	3.0	1.0	938	$1,350	$1.44	46d	1	0.87mi
8216 Richland Dr Unit B Houston, TX	3.0	2.0	1150	$1,750	$1.52	46d	1	0.91mi
8015 Elbert St Unit A Houston, TX	2.0	2.0	1021	$1,650	$1.62	10d	1	0.92mi
7600 E Houston Rd Houston, TX	1.0–3.0	1.0–2.0	1017	$1,233	$1.21	16d	8	0.94mi
7914 Laura Koppe Rd Houston, TX	3.0	2.0	1400	$1,850	$1.32	46d	1	0.98mi
8213 Linda Vista Rd Houston, TX	3.0	2.0	1298	$1,625	$1.25	27d	1	0.99mi
7956 Bonaire St Unit B Houston, TX	3.0	2.5	1498	$2,150	$1.44	46d	1	1.04mi
7956 Bonaire St Unit A Houston, TX	3.0	2.5	1498	$2,050	$1.37	2d	1	1.04mi
7601 Springdale St Houston, TX	3.0	2.0	1224	$1,200	$0.98	18d	1	1.06mi
7418 Bywood St Houston, TX	3.0	2.0	1300	$1,800	$1.38	27d	1	1.08mi
5415 Bacher St Unit A Houston, TX	3.0	2.5	1540	$2,350	$1.53	27d	1	1.11mi
5415 Bacher St Unit A Houston, TX	3.0	2.5	1540	$2,350	$1.53	46d	1	1.11mi
8203 Woodlyn Rd Unit C Houston, TX	3.0	2.5	1650	$1,650	$1.00	10d	1	1.14mi
8238 Homewood Ln Houston, TX	3.0	2.0	1696	$1,695	$1.00	27d	1	1.21mi
8238 Homewood Ln Houston, TX	3.0	2.0	1696	$1,695	$1.00	1d	1	1.21mi
5212 Ina St Houston, TX	1.0	1.5	1175	$1,050	$0.89	46d	1	1.24mi
8006 Lynette St Houston, TX	3.0	1.0	1400	$1,475	$1.05	27d	1	1.29mi
5426 E Houston Rd Unit A Houston, TX	3.0	2.5	1608	$1,675	$1.04	2d	1	1.31mi
7119 Bywood St Unit A Houston, TX	3.0	2.5	1150	$1,795	$1.56	46d	1	1.38mi
8602 Wilkins Oaks Dr Houston, TX	3.0	2.0	1307	$1,775	$1.36	46d	1	1.43mi
5217 E Houston Rd Unit A Houston, TX	3.0	2.5	1608	$1,700	$1.06	1d	1	1.44mi
8638 Doris Oaks Cir Houston, TX	3.0	3.0	1777	$1,975	$1.11	46d	1	1.47mi

Listing history 25 events

1. 2026-06-22
   days on market $160,000 Active 66 DOM
2. 2026-06-21
   days on market $160,000 Active 65 DOM
3. 2026-06-18
   days on market $160,000 Active 62 DOM
4. 2026-06-17
   days on market $160,000 Active 61 DOM
5. 2026-06-16
   days on market $160,000 Active 60 DOM
6. 2026-06-15
   price $160,000 Active 59 DOM
7. 2026-06-15
   days on market $180,000 Active 59 DOM
8. 2026-06-13
   days on market $180,000 Active 57 DOM
9. 2026-06-10
   days on market $180,000 Active 53 DOM
10. 2026-06-08
    days on market $180,000 Active 52 DOM
11. 2026-06-07
    days on market $180,000 Active 51 DOM
12. 2026-06-04
    days on market $180,000 Active 48 DOM
13. 2026-06-01
    days on market $180,000 Active 45 DOM
14. 2026-05-31
    days on market $180,000 Active 44 DOM
15. 2026-04-17
    listed $180,000 Active 873-char remark
16. 2024-01-03
    historical
17. 2023-11-02
    price $160,000
18. 2023-09-05
    listed $175,000 Active
19. 2023-05-01
    historical
20. 2023-04-18
    price $165,000
21. 2023-03-26
    price $170,000
22. 2023-03-02
    listed $175,000 Active
23. 2023-01-31
    historical
24. 2022-11-27
    listed $180,000 Active
25. 1988-01-02
    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: $3,077 · $256/mo
• Projected year-2 tax: $3,077 · $256/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°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: $20,556
• − Mortgage interest: −$8,962
• − Property taxes: −$3,077
• − Insurance: −$800
• − Repairs & maintenance: −$1,644
• − Management: −$1,644
• − Depreciation: −$4,655
• Taxable loss: −$227
• Est. tax savings @ 24.0%: +$54
• After-tax cash flow: $2,348/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): 19,109
• Household income: $38,357
• Rent vs Own: 43.1% rent · 56.9% own
• Severe rent burden: 1177.0

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: Majority Black (57%)
• Race & ethnicity: Black 57% Hispanic / Latino 41% Two or more races 15% White 2%
• Hispanic origin (detail): Mexican 36%
• Foreign-born: 13% · Canada
• Languages at home: 61% English-only · Spanish 38%

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: ▲ 5.25%
• Current HPI: 267.7798
• Rent YoY: ▼ -1.55%
• 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

-11.1% since first listed

12 events — show timeline

• 2026-06-15 Price Changed $160,000 HARMLS
• 2026-04-17 Listed $180,000 HARMLS
• 2024-01-03 Listing Removed — HARMLS
• 2023-11-02 Price Changed $160,000 HARMLS
• 2023-09-05 Listed $175,000 HARMLS
• 2023-05-01 Listing Removed — HARMLS
• 2023-04-18 Price Changed $165,000 HARMLS
• 2023-03-26 Price Changed $170,000 HARMLS
• 2023-03-02 Listed $175,000 HARMLS
• 2023-01-31 Listing Removed — HARMLS
• 2022-11-27 Listed $180,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+16.1%/yr

Latest (2025): $3,077 · +20.0% YoY. Source: county tax records.