7015 Boyce St · Houston, TX 77020

$182,999

3 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 402 Days on market

Built 1940 5,000 sqft lot $152/sqft · 12% above area Est $163k · 12% over

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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 +17.4/30.0
• Appreciation +10.0/10.0
• DSCR +5.4/10.0
• 1% rule +4.7/10.0
• Livability +3.7/5.0
• Rent growth +3.6/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0

Listing remarks MLS

MANY UPDATES! We just listed this affordable 3-Bedroom Home with many beautiful upgrades! It is in a great location near I-10 & Hwy 90. This 3-bedroom, 1-bathroom home has a carport and is located in a convenient area with easy access to I-10 and Highway 90 that will make your commute a breeze. This home is perfect for first-time buyers or investors. The property features fresh paint, plus an upgraded kitchen and bathroom. It is a must to see! WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

Key facts

• Upgraded bathroom
• Easy access
• Fresh paint

Tags

• UPGRADED KITCHEN
• UPGRADED BATHROOM
• FRESH PAINT
• EASY ACCESS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $183k.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $177k (3.1% below list).
• Recommended offer: $161k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.2% 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 rising fast (+4.3%/yr); 337 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 weeks tenant-placement turnaround); 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 42% of the median local income ($50k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $20k of equity ($1k loan paydown + $18k appreciation (10.0% local appreciation)).
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 4.3% rent growth), your $51k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 402 days — a 12% lower offer ($161k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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

• 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $161,039 (12.0% below list)

Questions for the listing agent

1. It's been on market 402 days. Have you received any prior offers? Is the seller open to a 12% 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: 0.97% ✗
• Cap rate: 7.19%
• Cash-on-cash: 3.19%
• DSCR: 1.14
• GRM: 8.6

CMA / ARV

• ARV (median comp): $163,150
• List price: $182,999
• Delta: 12.17%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7007 Gonzales St	0.09mi	2/1.0 (-1)	1,088 (-9%)	3mo	$155,000	$142	72
6925 El Paso St	0.20mi	3/1.0	1,272 (+6%)	16mo	$160,000	$126	68
1102 Gazin St	0.31mi	4/2.5 (+1)	1,235 (+3%)	5mo	$189,000	$153	65
7438 Market St	0.43mi	2/0.5 (-1)	1,200 (0%)	9mo	$275,000	$229	65
1130 Rouse St	0.38mi	3/1.0	1,110 (-8%)	8mo	$140,000	$126	63
1014 Henke St	0.45mi	3/1.0	1,332 (+11%)	2mo	$170,000	$128	59
7510 Market St	0.47mi	3/1.0	1,160 (-3%)	19mo	$155,000	$134	57
7010 Tuck St	0.02mi	2/3.0 (-1)	1,340 (+12%)	15mo	$159,900	$119	54
6907 Waxahachie St	0.73mi	2/1.0 (-1)	1,128 (-6%)	1mo	$175,000	$155	50
6921 Hershe St	0.68mi	3/1.0	1,032 (-14%)	5mo	$108,000	$105	40
6921 Brownwood St	0.64mi	3/2.0	1,100 (-8%)	20mo	$215,000	$195	36
7216 Brownwood St	0.63mi	2/2.0 (-1)	1,056 (-12%)	19mo	$123,500	$117	26

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

Projected returns pro-forma

10.0% appreciation · 4.27% rent growth · sell at horizon

5-year hold

• IRR: 27.1%
• Equity multiple: 3.16×
• Total profit: $110,657
• Equity at exit: $164,860

10-year hold

• IRR: 24.0%
• Equity multiple: 7.32×
• Total profit: $324,004
• Equity at exit: $355,527

Cash invested: $51,240 (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 77020

• Home prices YoY: 29.1%
• Rents YoY: 4.3%
• Active inventory: 337
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,773 high
• Mortgage (P&I): −$960
• Tax from tax record: −$229 /mo · $2,745/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$372
• Net cashflow: $136

Break-even live

Break-even rent $1,601

Max offer price $182,999

Occupancy floor 87%

Sensitivity live

Price	-10% $240	-5% $188	+0% $136	+5% $84	+10% $33
Rent	-10% $-4	-5% $66	+0% $136	+5% $206	+10% $276
Rate	-1.0pp $228	-0.5pp $183	base $136	+0.5pp $89	+1.0pp $40

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: $45,750
• Closing costs: $5,490
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1023 Hahlo St Houston, TX	4.0	2.0	1434	$1,775	$1.24	5d	1	0.62mi
6715 Victoria St Unit B Houston, TX	2.0	2.0	790	$1,150	$1.46	44d	1	0.99mi
5408 Market St Unit 5408-1 Houston, TX	2.0	1.0	730	$900	$1.23	5d	1	1.12mi
2105 Sam Wilson St Houston, TX	3.0	2.5	1416	$6,750	$4.77	44d	1	1.21mi
5605 Mulvey St Unit 1019610P Houston, TX	3.0	2.5	1410	$4,237	$3.00	3d	1	1.22mi
6602 Avenue R Unit D Houston, TX	2.0	1.0	830	$1,235	$1.49	8d	1	1.41mi
2203 Pearl St Houston, TX	3.0	2.0	1298	$1,570	$1.21	14d	1	1.45mi

Listing history 16 events

1. 2026-06-18
   days on market $182,999 Active 402 DOM
2. 2026-06-17
   days on market $182,999 Active 401 DOM
3. 2026-06-16
   days on market $182,999 Active 400 DOM
4. 2026-06-15
   days on market $182,999 Active 399 DOM
5. 2026-06-13
   days on market $182,999 Active 397 DOM
6. 2026-06-10
   days on market $182,999 Active 393 DOM
7. 2026-06-08
   days on market $182,999 Active 392 DOM
8. 2026-06-07
   days on market $182,999 Active 391 DOM
9. 2026-06-04
   days on market $182,999 Active 388 DOM
10. 2026-06-01
    days on market $182,999 Active 385 DOM
11. 2026-05-31
    days on market $182,999 Active 384 DOM
12. 2025-05-12
    listed $182,999 Active 676-char remark

    Show marketing remark (676 chars)

    MANY UPDATES! We just listed this affordable 3-Bedroom Home with many beautiful upgrades! It is in a great location near I-10 & Hwy 90. This 3-bedroom, 1-bathroom home has a carport and is located in a convenient area with easy access to I-10 and Highway 90 that will make your commute a breeze. This home is perfect for first-time buyers or investors. The property features fresh paint, plus an upgraded kitchen and bathroom. It is a must to see! WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait call us today to get more information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home.

13. 2018-03-20
    soldstatus
14. 2017-03-22
    historical
15. 2016-11-28
    listed $105,000 Active
16. 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: $2,745 · $229/mo
• Projected year-2 tax: $3,349 · $279/mo
• Expected delta: +$604/yr (+$50/mo · 22.0%)

ⓘ 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) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 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: $21,277
• − Mortgage interest: −$10,251
• − Property taxes: −$2,745
• − Insurance: −$915
• − Repairs & maintenance: −$1,702
• − Management: −$1,702
• − Depreciation: −$5,324
• Taxable loss: −$1,361
• Est. tax savings @ 24.0%: +$327
• After-tax cash flow: $1,960/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): 23,686
• Household income: $50,119
• Rent vs Own: 46.2% rent · 53.8% own
• Severe rent burden: 969.0

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 (69%)
• Race & ethnicity: Hispanic / Latino 69% Black 24% Two or more races 22% White 5% Asian 1%
• Hispanic origin (detail): Mexican 60%
• Common ancestry: Swiss 1%
• Foreign-born: 23% · Canada
• Languages at home: 39% English-only · Spanish 59% Other Indo-European 1%

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: ▲ 55.64%
• Current HPI: 246.5578
• Rent YoY: ▲ 4.27%
• 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

+74.3% since first listed

5 events — show timeline

• 2025-05-12 Listed $182,999 HARMLS
• 2018-03-20 Sold (Public Records) — Public Records
• 2017-03-22 Listing Removed — HARMLS
• 2016-11-28 Listed $105,000 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+6.2%/yr

Latest (2025): $2,745 · +16.4% YoY. Source: county tax records.