7823 Appleton St · Houston, TX 77022

$120,000

2 bd · 1.0 ba · 1,568 sqft · SingleFamily public records · 25 Days on market

Built 1940 7,248 sqft lot

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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 +26.2/30.0
• DSCR +8.9/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

This property, sold AS-IS, holds unlimited potential in a sought-after investor neighborhood. With one of the larger lots and a prime location, it presents a promising opportunity. While not a complete tear down, the building requires some work, making it ideal for a DIY enthusiast or investor. This Single-Family home at 7823 Appleton offers 2 bedrooms, 1 bathroom, 1568 square feet of living space, and a 7250 square foot lot. Built in 1940, it is ripe for transformation and growth.

Key facts

• Larger lots
• Prime location
• 7,248 sq ft lot

Tags

• LARGER LOTS
• PRIME LOCATION

Property features AI

Finance

• Other: Seller disclosure available

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential property; One-story layout; Built in 1940
• Construction: Brick and stucco exterior; Shingle and wood roof; Slab foundation
• Exterior features: Subdivision lot

Interior

• Bedrooms: Two bedrooms on the first floor (approx. 11x10 and 9x10)
• Bathrooms: One full bathroom
• Interior features: Two total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $306 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $118k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: 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: Burbank Middle (math 37% / reading 42%, grade F, #660 of 1,662 statewide, top 41%, 1,417 students, 96% FRL); Houston Math Science And Technology Center (math 9% / reading 21%, grade F, #1,507 of 1,632 statewide, top 93%, 2,779 students, 95% FRL) — zoned schools average 96% FRL vs 71% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.5%/yr); 285 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 37% of the median local income ($53k/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 $830 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 4.5% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($118k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.2% of price; 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 $118,200 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.37% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.92%
• DSCR: 1.49
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $315,168
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
243 Rebecca St Unit E	0.22mi	3/2.5 (+1)	1,536 (-2%)	1mo	$289,990	$189	75
241 Rebecca St Unit A	0.22mi	3/2.5 (+1)	1,536 (-2%)	3mo	$309,990	$202	73
1017 Yorkshire St	0.75mi	2/2.0	1,561 (-0%)	13mo	$295,000	$189	50
702 Pennington St	0.72mi	3/2.0 (+1)	1,616 (+3%)	6mo	$289,000	$179	48
249 De Boll Ave	0.65mi	3/3.5 (+1)	1,616 (+3%)	7mo	$319,000	$197	44
727 Yorkshire St	0.54mi	3/2.0 (+1)	1,680 (+7%)	12mo	$289,000	$172	44
320 Charlock St	0.70mi	3/2.5 (+1)	1,605 (+2%)	11mo	$329,900	$206	44
269 De Boll Ave	0.66mi	3/3.5 (+1)	1,616 (+3%)	13mo	$325,000	$201	38
271 De Boll Ave	0.66mi	3/3.5 (+1)	1,616 (+3%)	14mo	$335,000	$207	38
813 Mcdaniel St	0.51mi	3/2.0 (+1)	1,344 (-14%)	8mo	$315,000	$234	37
715 Hohl St	0.71mi	3/2.0 (+1)	1,655 (+6%)	15mo	$337,999	$204	36
60 Farrell St	0.72mi	3/2.0 (+1)	1,471 (-6%)	13mo	$254,000	$173	36

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 · 4.47% rent growth · sell at horizon

5-year hold

• IRR: 2.0%
• Equity multiple: 1.08×
• Total profit: $2,623
• Equity at exit: $17,892

10-year hold

• IRR: 13.2%
• Equity multiple: 2.14×
• Total profit: $38,326
• Equity at exit: $10,375

Cash invested: $33,600 (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 77022

• Home prices YoY: -33.2%
• Rents YoY: 4.5%
• Active inventory: 285
• Price-to-rent: 6.1×

Monthly cashflow live

• Estimated rent: $1,648 high
• Mortgage (P&I): −$629
• Tax from tax record: −$317 /mo · $3,802/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $306

Break-even live

Break-even rent $1,261

Max offer price $120,000

Occupancy floor 76%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
139 Van Molan St Houston, TX	1.0	1.0	1056	$925	$0.88	43d	1	0.42mi
534 Firnat St Houston, TX	3.0	2.0	1397	$1,900	$1.36	43d	1	0.54mi
534 Firnat St Unit NA Houston, TX	3.0	2.0	1397	$1,900	$1.36	24d	1	0.54mi
819 Tidwell Rd #819 Houston, TX	2.0	1.5	1100	$1,300	$1.18	43d	1	0.92mi
6918 Irvington Blvd Houston, TX	2.0	2.0	1100	$1,550	$1.41	43d	1	0.93mi
965 Tidwell Rd Houston, TX	3.0	2.0	1145	$1,309	$1.14	20d	1	0.93mi
815 Cravens St Apt F2 Houston, TX	2.0	1.5	1100	$1,300	$1.18	18d	1	1.01mi
815 Cravens St Apt C1 Houston, TX	2.0	1.5	1100	$1,300	$1.18	4d	1	1.01mi
207 Lindale St Unit 1316403P Houston, TX	2.0	1.0	1119	$3,182	$2.84	2d	1	1.09mi
4132 Europa St Houston, TX	3.0	2.0	1259	$1,430	$1.14	12d	1	1.20mi
9910 Clark Rd Unit B Houston, TX	3.0	2.5	1695	$1,900	$1.12	7d	1	1.26mi
209 Clark Meadows Ln Houston, TX	3.0	2.5	1620	$2,399	$1.48	12d	1	1.27mi
1420 E 31st St Houston, TX	3.0	2.5	1790	$2,600	$1.45	24d	1	1.47mi
1420 E 31st St Houston, TX	3.0	2.5	1980	$2,600	$1.31	43d	1	1.47mi
2623 Huntington Creek Ln Houston, TX	3.0	2.5	1553	$2,299	$1.48	24d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $120,000 Pending 25 DOM
2. 2026-06-17
   days on market $120,000 Pending 24 DOM
3. 2026-06-16
   days on market $120,000 Pending 23 DOM
4. 2026-06-15
   days on market $120,000 Pending 22 DOM
5. 2026-06-13
   statusdays on market $120,000 Pending 20 DOM
6. 2026-06-09
   days on market $120,000 Active 16 DOM
7. 2026-06-08
   days on market $120,000 Active 15 DOM
8. 2026-06-07
   days on market $120,000 Active 14 DOM
9. 2026-06-04
   days on market $120,000 Active 11 DOM
10. 2026-06-03
    days on market $120,000 Active 10 DOM
11. 2026-06-02
    days on market $120,000 Active 9 DOM
12. 2026-06-01
    days on market $120,000 Active 8 DOM
13. 2026-05-31
    days on market $120,000 Active 7 DOM
14. 2026-05-24
    listed $120,000 Active
15. 2023-10-06
    soldstatus
16. 1988-05-01
    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: $3,802 · $317/mo
• Projected year-2 tax: $3,802 · $317/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: $19,773
• − Mortgage interest: −$6,722
• − Property taxes: −$3,802
• − Insurance: −$600
• − Repairs & maintenance: −$1,582
• − Management: −$1,582
• − Depreciation: −$3,491
• Taxable income: $1,995
• Est. tax owed @ 24.0%: −$479
• After-tax cash flow: $3,189/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): 25,805
• Household income: $52,739
• Rent vs Own: 49.6% rent · 50.4% own
• Severe rent burden: 1354.0

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: Predominantly Hispanic (72%)
• Race & ethnicity: Hispanic / Latino 72% Two or more races 24% Black 19% White 7% Native American 1%
• Hispanic origin (detail): Mexican 54%
• Common ancestry: Romanian 1% Portuguese 1%
• Foreign-born: 30% · Canada, Jamaica
• Languages at home: 40% English-only · Spanish 59%

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: ▼ -151.13%
• Current HPI: 304.3745
• Rent YoY: ▲ 4.47%
• 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

3 events — show timeline

• 2026-05-24 Listed $120,000 HARMLS
• 2023-10-06 Sold (Public Records) — Public Records
• 1988-05-01 Sold (Public Records) — Public Records

Property tax history

+7.3%/yr

Latest (2025): $3,802 · +7.0% YoY. Source: county tax records.