1265 Morris Street St · Houston, TX 77009

$215,000

3 bd · 2.0 ba · 1,636 sqft · SingleFamily public records · 82 Days on market

Built 1926 5,000 sqft lot $131/sqft · 44% below area Est $386k · 44% under ↓ 23% since listing

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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 +21.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.9/10.0
• 1% rule +6.6/10.0
• Livability +3.7/5.0
• Rent growth +2.7/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Key facts

• 5,000 sq ft lot
• Built 1926
• Listed 81 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $333 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $215k).
• Recommended offer: $202k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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 flat; 604 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 36% of the median local income ($83k/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 $1k of loan paydown is wiped out by about $6k 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 82 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y 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 1926 — 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 $202,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1926 — 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: 1.16% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.63%
• DSCR: 1.29
• GRM: 7.2

CMA / ARV

• ARV (median comp): $385,784
• List price: $215,000
• Delta: -44.27%
• 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
2518 Cochran St	0.02mi	3/2.0	1,540 (-6%)	3mo	$325,000	$211	87
3420 Elser St	0.54mi	3/2.5	1,599 (-2%)	1mo	$349,000	$218	68
3424 Elser St	0.55mi	3/2.5	1,599 (-2%)	1mo	$349,000	$218	68
3606 Billingsley St	0.72mi	3/2.5	1,640 (+0%)	2mo	$419,000	$255	62
2814 Elysian St	0.35mi	4/2.0 (+1)	1,800 (+10%)	0mo	$195,000	$108	62
2023 Everett St	0.51mi	2/1.0 (-1)	1,674 (+2%)	2mo	$300,000	$179	62
1915 Everett St	0.57mi	3/2.0	1,750 (+7%)	2mo	$425,000	$243	60
3605 Billingsley St Unit A	0.73mi	3/2.5	1,596 (-2%)	0mo	$340,000	$213	59
1913 West St	0.70mi	3/2.5	1,750 (+7%)	0mo	$387,000	$221	54
1715 Mary St	0.75mi	3/3.5	1,877 (+15%)	2mo	$369,900	$197	33
1717 Mary St	0.74mi	3/3.5	1,877 (+15%)	3mo	$369,900	$197	32
1739 Mary St	0.74mi	3/3.5	1,877 (+15%)	3mo	$369,900	$197	32

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 · 0.84% rent growth · sell at horizon

5-year hold

• IRR: -8.7%
• Equity multiple: 0.69×
• Total profit: $-18,847
• Equity at exit: $32,057

10-year hold

• IRR: -2.6%
• Equity multiple: 0.84×
• Total profit: $-9,506
• Equity at exit: $18,589

Cash invested: $60,200 (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 77009

• Rents YoY: 0.8%
• Active inventory: 604
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $2,502 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$427 /mo · $5,123/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$525
• Net cashflow: $333

Break-even live

Break-even rent $2,081

Max offer price $215,000

Occupancy floor 82%

Sensitivity live

Price	-10% $454	-5% $393	+0% $333	+5% $272	+10% $211
Rent	-10% $135	-5% $234	+0% $333	+5% $431	+10% $530
Rate	-1.0pp $441	-0.5pp $387	base $333	+0.5pp $277	+1.0pp $220

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2706 Cochran St Houston, TX	3.0	3.5	1791	$2,700	$1.51	20d	1	0.14mi
2403 Everett St Unit A Houston, TX	3.0	3.5	2093	$2,800	$1.34	44d	1	0.44mi
2016 N Main St Houston, TX	2.0	2.0	1169	$2,200	$1.88	44d	1	0.56mi
2623 Keene St Houston, TX	2.0	1.0–2.0	965	$3,280	$3.40	17d	44	0.61mi
412 Paschall St Unit 1316398P Houston, TX	3.0	2.0	1130	$4,840	$4.28	13d	1	0.63mi
410 James St Houston, TX	3.0	2.0	1602	$6,750	$4.21	44d	1	0.67mi
410 James St Unit 1031793P Houston, TX	3.0	2.0	1593	$5,668	$3.56	0d	1	0.67mi
914 Bunton St Houston, TX	3.0	2.0	1389	$1,950	$1.40	44d	1	0.69mi
207 Carl St Houston, TX	2.0	2.0	1230	$2,250	$1.83	44d	1	0.70mi
1550 Burnett St Houston, TX	1.0–2.0	1.0–2.0	877	$2,108	$2.40	0d	37	0.71mi
1714 Mary St Houston, TX	2.0	2.0	1100	$2,400	$2.18	44d	1	0.75mi
1625 N Main St Houston, TX	3.0	1.0–3.0	994	$2,354	$2.37	0d	41	0.75mi
1550 Leona St Houston, TX	1.0–2.0	1.0–2.0	835	$1,905	$2.28	2d	19	0.79mi
1250 Leona St Houston, TX	2.0	1.0–2.0	885	$1,990	$2.25	0d	14	0.80mi
1550 Leona St Unit 1587 Houston, TX	2.0	2.0	1131	$1,942	$1.72	44d	1	0.81mi
200 Hogan St Houston, TX	2.0	2.0	1058	$1,904	$1.80	13d	1	0.84mi
1039 Hillstar St Houston, TX	3.0	2.5	1780	$2,750	$1.54	13d	1	1.07mi
1499 Crockett St Houston, TX	2.0	2.0	1062	$2,424	$2.28	25d	1	1.21mi
1510 Crockett St Houston, TX	2.0	3.0	1912	$2,800	$1.46	44d	1	1.22mi
1512 Crockett St Unit A Houston, TX	2.0	2.5	1808	$2,800	$1.55	44d	1	1.23mi
6 N Main St Houston, TX	2.0	2.0	1248	$2,453	$1.97	21d	1	1.26mi
6 N Main St Houston, TX	2.0	2.0	1248	$2,453	$1.97	44d	1	1.26mi
650 McKee St Unit 3174 Houston, TX	3.0	2.0	1136	$2,114	$1.86	12d	1	1.26mi
650 McKee St Unit 3112 Houston, TX	3.0	2.0	1136	$2,074	$1.83	0d	1	1.26mi
650 McKee St Unit 683 Houston, TX	3.0	2.0	1136	$2,125	$1.87	44d	1	1.26mi
1524 Evelyn St Houston, TX	3.0	2.5	1804	$2,800	$1.55	44d	1	1.29mi
3300 Lyons Ave Unit 304 Houston, TX	4.0	2.0	1393	$1,460	$1.05	44d	1	1.29mi
2114 Sabine St Houston, TX	3.0	4.0	2020	$3,200	$1.58	44d	1	1.30mi
1307 Bayou St Unit B Houston, TX	3.0	3.0	1814	$2,400	$1.32	8d	1	1.33mi
1303 Bayou St Unit C Houston, TX	3.0	3.0	1869	$3,200	$1.71	44d	1	1.34mi
1513 Cage St Houston, TX	3.0	2.0	1467	$1,550	$1.06	44d	1	1.39mi
1993 Silver St Houston, TX	2.0	2.0	1100	$2,620	$2.38	25d	1	1.40mi
915 Franklin St Unit ID51118 Houston, TX	2.0	2.0	1342	$2,000	$1.49	44d	1	1.42mi
915 Franklin St Unit 312202 Houston, TX	2.0	2.0	1398	$1,987	$1.42	44d	1	1.42mi
915 Franklin St Unit 3-324 Houston, TX	2.0	2.0	1158	$2,498	$2.16	44d	1	1.42mi
401 Walton St Houston, TX	3.0	2.0	2112	$2,500	$1.18	16d	1	1.42mi
2905 Baer St Unit 1047953P Houston, TX	3.0	2.5	1991	$2,922	$1.47	0d	1	1.44mi
201 Main St Unit 12258 Houston, TX	2.0	2.0	1308	$2,250	$1.72	44d	1	1.48mi

Listing history 29 events

1. 2026-06-21
   days on market $215,000 Active 82 DOM
2. 2026-06-18
   days on market $215,000 Active 79 DOM
3. 2026-06-17
   days on market $215,000 Active 78 DOM
4. 2026-06-16
   days on market $215,000 Active 77 DOM
5. 2026-06-15
   days on market $215,000 Active 76 DOM
6. 2026-06-13
   days on market $215,000 Active 74 DOM
7. 2026-06-10
   days on market $215,000 Active 70 DOM
8. 2026-06-08
   days on market $215,000 Active 69 DOM
9. 2026-06-07
   days on market $215,000 Active 68 DOM
10. 2026-06-04
    days on market $215,000 Active 65 DOM
11. 2026-06-01
    days on market $215,000 Active 62 DOM
12. 2026-05-31
    days on market $215,000 Active 61 DOM
13. 2026-03-31
    listed $215,000 Active
14. 2026-03-25
    historical
15. 2026-03-05
    listed $215,000 Active
16. 2025-12-15
    historical
17. 2025-03-14
    price $220,000
18. 2025-03-06
    price $224,000
19. 2024-10-17
    price $225,000
20. 2024-09-16
    listed $239,000 Active
21. 2024-01-15
    historical
22. 2023-08-09
    price $271,550
23. 2023-02-02
    listed $250,000 Active
24. 2022-12-15
    historical
25. 2022-06-16
    listed $235,000 Active
26. 2021-10-01
    historical
27. 2021-08-18
    price $249,900
28. 2021-04-05
    listed $279,900 Active
29. 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: $5,123 · $427/mo
• Projected year-2 tax: $5,123 · $427/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: $30,024
• − Mortgage interest: −$12,043
• − Property taxes: −$5,123
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,402
• − Management: −$2,402
• − Depreciation: −$6,255
• Taxable income: $724
• Est. tax owed @ 24.0%: −$174
• After-tax cash flow: $3,817/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): 35,769
• Household income: $83,148
• Rent vs Own: 42.4% rent · 57.6% own
• Severe rent burden: 994.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 53% White 33% Two or more races 22% Black 8% Asian 3%
• Hispanic origin (detail): Mexican 46%
• Common ancestry: Italian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 20% · Canada
• Languages at home: 55% English-only · Spanish 40% Other Indo-European 2% Other Asian/Pacific 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: ▼ -533.57%
• Current HPI: 219.5037
• Rent YoY: ▲ 0.84%
• 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

-23.2% since first listed

17 events — show timeline

• 2026-03-31 Listed $215,000 HARMLS
• 2026-03-25 Listing Removed — HARMLS
• 2026-03-05 Listed $215,000 HARMLS
• 2025-12-15 Listing Removed — HARMLS
• 2025-03-14 Price Changed $220,000 HARMLS
• 2025-03-06 Price Changed $224,000 HARMLS
• 2024-10-17 Price Changed $225,000 HARMLS
• 2024-09-16 Listed $239,000 HARMLS
• 2024-01-15 Listing Removed — HARMLS
• 2023-08-09 Price Changed $271,550 HARMLS
• 2023-02-02 Listed $250,000 HARMLS
• 2022-12-15 Listing Removed — HARMLS
• 2022-06-16 Listed $235,000 HARMLS
• 2021-10-01 Listing Removed — HARMLS
• 2021-08-18 Price Changed $249,900 HARMLS
• 2021-04-05 Listed $279,900 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+11.0%/yr

Latest (2025): $5,123 · +11.7% YoY. Source: county tax records.