1602 Colorado St · Houston, TX 77007

$329,000

2 bd · 2.0 ba · 1,842 sqft · Townhouse public records · 18 Days on market

Built 2006 2,003 sqft lot Est $396k · 17% under $219/mo HOA · 6% of rent

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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 +19.3/30.0
• ARV discount +15.0/15.0
• 1% rule +6.6/10.0
• DSCR +6.1/10.0
• 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

Enjoy Exceptional Value and Urban Living with Private Backyard In An Exclusive Inner-Loop Gated Community! Stunning 3-story home w/ stylish interiors has ample space for comfortable daily living & easy entertaining. Floor plan offers 1st-floor guest suite w/ walk-in closet & ensuite bathroom. Primary suite on the 3rd floor features a soaring vaulted ceiling, space for study/sitting area, 2 walk-in closets & a spa-like ensuite. Light-filled living & dining areas w/ rich hardwood flooring & neutral paint open to the kitchen w/ convenient bar seating, granite countertops, SS appliances & a large pantry. Location is perfect! Stroll to Café Brussels for

Key facts

• Private backyard
• Primary suite
• Spa-like ensuite

Tags

• PRIVATE BACKYARD
• INNER-LOOP GATED COMMUNITY
• 1ST-FLOOR GUEST SUITE
• PRIMARY SUITE
• SPA-LIKE ENSUITE
• BAR SEATING

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath townhouse listed at $329k.

Deal economics

• At list price, monthly cash flow is $364 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($4k rent vs $329k).
• Recommended offer: $324k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.6% 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: Hogg Middle (math 44% / reading 48%, grade D+, #462 of 1,662 statewide, top 28%, 1,120 students, 52% FRL); Heights H S (math 27% / reading 57%, grade F, #730 of 1,632 statewide, top 47%, 2,476 students, 65% FRL).
• Zoned-school proficiency averages 44% at this address vs 31% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Houston ISD average implies; a family-tenant draw the district grade alone would hide.
• 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 31% 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 $2k of loan paydown is wiped out by about $10k 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 18 days — a 2% lower offer ($324k) is reasonable based on typical stale-listing flexibility.
• 20 sale attempts since 18y 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

• 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 $324,065 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 7.62%
• Cash-on-cash: 4.74%
• DSCR: 1.21
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $396,030
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1917 Summer St	0.19mi	3/3.0 (+1)	1,768 (-4%)	5mo	$465,000	$263	71
1901 Summer St	0.16mi	3/3.5 (+1)	1,874 (+2%)	12mo	$455,000	$243	69
1823 Dart St	0.23mi	3/3.5 (+1)	1,888 (+2%)	11mo	$379,900	$201	65
1923 Shearn St	0.23mi	3/3.5 (+1)	1,964 (+7%)	8mo	$425,000	$216	60
939 Colorado St #20	0.35mi	3/3.0 (+1)	2,000 (+9%)	1mo	$365,000	$183	60
102 Quitman St #201	0.60mi	2/2.0	1,696 (-8%)	2mo	$364,900	$215	57
1304 Dart St Unit E	0.29mi	3/3.0 (+1)	2,088 (+13%)	3mo	$400,000	$192	53
939 Colorado St #13	0.36mi	3/3.0 (+1)	2,088 (+13%)	3mo	$424,900	$203	50
1404 Spring St	0.27mi	3/3.5 (+1)	2,024 (+10%)	13mo	$450,000	$222	49
1704 Alamo St Unit A	0.30mi	3/3.5 (+1)	2,084 (+13%)	8mo	$464,000	$223	47
1205 Summer St Unit C	0.31mi	3/3.5 (+1)	2,088 (+13%)	7mo	$420,000	$201	46
1205 Summer St Unit A	0.31mi	3/3.5 (+1)	2,088 (+13%)	8mo	$399,990	$192	45

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: -12.8%
• Equity multiple: 0.56×
• Total profit: $-40,990
• Equity at exit: $49,055

10-year hold

• IRR: -10.0%
• Equity multiple: 0.48×
• Total profit: $-47,755
• Equity at exit: $28,446

Cash invested: $92,120 (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: 7.2×

Monthly cashflow live

• Estimated rent: $3,802 high
• Mortgage (P&I): −$1,725
• Tax from tax record: −$558 /mo · $6,696/yr
• Insurance: −$137
• HOA: −$219
• Vacancy / Maint / Mgmt: −$798
• Net cashflow: $364

Break-even live

Break-even rent $3,341

Max offer price $329,000

Occupancy floor 85%

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: $82,250
• Closing costs: $9,870
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1512 Crockett St Unit A Houston, TX	2.0	2.5	1808	$2,800	$1.55	43d	1	0.19mi
1510 Crockett St Houston, TX	2.0	3.0	1912	$2,800	$1.46	43d	1	0.19mi
2018 Crockett St Unit 1029793P Houston, TX	3.0	3.5	2507	$6,482	$2.59	5d	1	0.27mi
2018 Crockett St Unit 2018 Houston, TX	3.0	3.5	2514	$8,000	$3.18	43d	1	0.27mi
2114 Sabine St Houston, TX	3.0	4.0	2020	$3,200	$1.58	43d	1	0.30mi
2114 Sabine St Unit 1257735P Houston, TX	3.0	3.5	2594	$6,588	$2.54	43d	1	0.30mi
2121 Edwards St Houston, TX	2.0	1.0–2.0	879	$2,880	$3.27	3d	25	0.31mi
2305 Summer St Houston, TX	2.0	1.0–2.0	842	$3,046	$3.62	1d	11	0.36mi
2000 Taylor St Houston, TX	2.0	1.0–2.0	916	$3,082	$3.36	2d	33	0.40mi
1520 Oliver St Houston, TX	2.0	1.0–2.0	926	$2,865	$3.09	2d	45	0.64mi
825 Usener St Houston, TX	2.0	1.0–2.0	1050	$2,925	$2.79	2d	27	0.68mi
150 Sabine St Houston, TX	1.0–2.0	1.0–2.0	1187	$2,882	$2.43	3d	15	0.68mi
410 James St Houston, TX	3.0	2.0	1602	$6,750	$4.21	43d	1	0.78mi
410 James St Unit 1031793P Houston, TX	3.0	2.0	1593	$7,554	$4.74	16d	1	0.78mi
207 Carl St Houston, TX	2.0	2.0	1230	$2,250	$1.83	43d	1	0.81mi
1625 N Main St Houston, TX	3.0	1.0–3.0	994	$2,007	$2.02	3d	42	0.86mi
3010 S Heights Hollow Ln Houston, TX	2.0	2.0	1442	$2,400	$1.66	43d	1	0.94mi
414 Milam St Unit 422 Houston, TX	2.0	2.0	1585	$3,833	$2.42	7d	1	0.95mi
414 Milam St Unit 2187 Houston, TX	2.0	2.0	1585	$3,857	$2.43	3d	1	0.95mi
414 Milam St Unit 3165 Houston, TX	3.0	2.0	2421	$8,959	$3.70	3d	1	0.95mi
414 Milam St Unit 2162 Houston, TX	2.0	2.0	1585	$3,833	$2.42	5d	1	0.95mi
414 Milam St Unit 447 Houston, TX	3.0	2.0	2421	$8,973	$3.71	43d	1	0.95mi
414 Milam St Unit 447 Houston, TX	3.0	2.0	2421	$8,991	$3.71	11d	1	0.95mi
414 Milam St Unit 2148 Houston, TX	2.0	2.0	1585	$3,825	$2.41	3d	1	0.95mi
414 Milam St Unit 2165 Houston, TX	2.0	2.0	1585	$3,868	$2.44	5d	1	0.95mi
414 Milam St Unit 510 Houston, TX	3.0	2.0	2421	$9,230	$3.81	14d	1	0.95mi
414 Milam St Unit 437 Houston, TX	2.0	2.0	1585	$3,857	$2.43	11d	1	0.95mi
414 Milam St Houston, TX	2.0	2.5	1585	$3,845	$2.43	22d	1	0.96mi
414 Milam St Ph 2-4602 Houston, TX	2.0	2.0	2158	$8,990	$4.17	43d	1	0.96mi
414 Milam St Unit B1-2003 Houston, TX	2.0	2.0	1585	$4,513	$2.85	43d	1	0.96mi
3003 Summer St Houston, TX	1.0–2.0	1.0–2.0	1008	$3,216	$3.19	3d	36	0.98mi
616 Memorial Heights Dr Houston, TX	1.0–2.0	1.0–2.0	1070	$2,249	$2.10	1d	46	0.99mi
2403 Everett St Unit A Houston, TX	3.0	3.5	2093	$2,800	$1.34	43d	1	1.03mi
1011 Studemont St Unit 2534 Houston, TX	2.0	2.0	1324	$1,998	$1.51	43d	1	1.03mi
1011 Studemont St Unit 358 Houston, TX	2.0	2.0	1364	$2,102	$1.54	43d	1	1.03mi
3030 Summer St Houston, TX	1.0–2.0	1.0–2.0	911	$2,394	$2.63	2d	35	1.04mi
707 Saulnier St Unit 2174 Houston, TX	2.0	2.0	1243	$2,392	$1.92	11d	1	1.04mi
707 Saulnier St Unit 422 Houston, TX	2.0	2.0	1243	$2,368	$1.91	7d	1	1.04mi
707 Saulnier St Unit 2162 Houston, TX	2.0	2.0	1243	$2,368	$1.91	5d	1	1.04mi
707 Saulnier St Unit 2187 Houston, TX	2.0	2.0	1243	$2,360	$1.90	3d	1	1.04mi

HOA detail

• Monthly dues: $219 · $2,628/yr
• Likely covers: security

Listing history 50 events

1. 2026-05-04
   status Pending
2. 2026-04-24
   status Pending
3. 2026-04-15
   listed $329,000 Active
4. 2026-04-06
   historical
5. 2026-02-25
   price $319,995
6. 2026-01-28
   listed $339,995 Active
7. 2026-01-26
   historical $2,450
8. 2026-01-26
   historical
9. 2026-01-01
   listed $2,450
10. 2025-12-25
    historical $2,450
11. 2025-12-10
    listed $2,450
12. 2025-12-09
    listed $344,995 Active
13. 2025-11-17
    historical $2,450
14. 2025-10-23
    listed $2,450
15. 2025-10-22
    historical $2,450
16. 2025-09-26
    listed $2,450
17. 2025-09-25
    historical $2,500
18. 2025-09-09
    listed $2,500
19. 2025-09-08
    historical $2,545
20. 2025-09-04
    listed $2,545
21. 2025-09-04
    historical $2,545
22. 2025-08-20
    listed $2,545
23. 2025-08-20
    historical $2,600
24. 2025-07-26
    listed $2,600
25. 2025-07-26
    historical $2,600
26. 2025-07-08
    listed $2,600
27. 2025-07-08
    historical $2,600
28. 2025-07-05
    listed $2,600
29. 2019-01-22
    soldstatus
30. 2019-01-18
    soldstatus Sold
31. 2018-12-23
    status Pending
32. 2018-12-12
    status Option Pending
33. 2018-10-31
    price $299,900
34. 2018-10-18
    price $309,900
35. 2018-09-27
    listed $319,900 Active
36. 2014-06-02
    soldstatus
37. 2014-05-30
    soldstatus Sold
38. 2014-05-12
    status Pending
39. 2014-05-01
    status Option Pending
40. 2014-04-16
    listed $289,000 Active
41. 2014-04-16
    historical
42. 2014-03-18
    status Active
43. 2014-03-10
    status Option Pending
44. 2014-03-05
    listed $290,000 Active
45. 2010-06-01
    historical
46. 2009-04-16
    listed $229,900
47. 2009-04-15
    historical
48. 2009-02-10
    listed $180,000
49. 2008-10-11
    historical
50. 2008-09-08
    listed $249,900

ⓘ 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: $6,696 · $558/mo
• Projected year-2 tax: $6,696 · $558/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: $45,620
• − Mortgage interest: −$18,429
• − Property taxes: −$6,696
• − Insurance: −$1,645
• − Repairs & maintenance: −$3,650
• − Management: −$3,650
• − HOA: −$2,628
• − Depreciation: −$9,571
• Taxable loss: −$648
• Est. tax savings @ 24.0%: +$155
• After-tax cash flow: $4,523/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

+31.7% since first listed

50 events — show timeline

• 2026-05-04 Pending — HARMLS
• 2026-04-24 Pending — HARMLS
• 2026-04-15 Listed $329,000 HARMLS
• 2026-04-06 Listing Removed — HARMLS
• 2026-02-25 Price Changed $319,995 HARMLS
• 2026-01-28 Listed $339,995 HARMLS
• 2026-01-26 Rental Removed $2,450 HARMLS
• 2026-01-26 Listing Removed — HARMLS
• 2026-01-01 Listed for Rent $2,450 HARMLS
• 2025-12-25 Rental Removed $2,450 HARMLS
• 2025-12-10 Listed for Rent $2,450 HARMLS
• 2025-12-09 Listed $344,995 HARMLS
• 2025-11-17 Rental Removed $2,450 HARMLS
• 2025-10-23 Listed for Rent $2,450 HARMLS
• 2025-10-22 Rental Removed $2,450 HARMLS
• 2025-09-26 Listed for Rent $2,450 HARMLS
• 2025-09-25 Rental Removed $2,500 HARMLS
• 2025-09-09 Listed for Rent $2,500 HARMLS
• 2025-09-08 Rental Removed $2,545 HARMLS
• 2025-09-04 Listed for Rent $2,545 HARMLS
• 2025-09-04 Rental Removed $2,545 HARMLS
• 2025-08-20 Listed for Rent $2,545 HARMLS
• 2025-08-20 Rental Removed $2,600 HARMLS
• 2025-07-26 Listed for Rent $2,600 HARMLS
• 2025-07-26 Rental Removed $2,600 HARMLS
• 2025-07-08 Listed for Rent $2,600 HARMLS
• 2025-07-08 Rental Removed $2,600 APPFOLIO
• 2025-07-05 Listed for Rent $2,600 APPFOLIO
• 2019-01-22 Sold (Public Records) — Public Records
• 2019-01-18 Sold (MLS) — HARMLS
• 2018-12-23 Pending — HARMLS
• 2018-12-12 Pending — HARMLS
• 2018-10-31 Price Changed $299,900 HARMLS
• 2018-10-18 Price Changed $309,900 HARMLS
• 2018-09-27 Listed $319,900 HARMLS
• 2014-06-02 Sold (Public Records) — Public Records
• 2014-05-30 Sold (MLS) — HARMLS
• 2014-05-12 Pending — HARMLS
• 2014-05-01 Pending — HARMLS
• 2014-04-16 Listed $289,000 HARMLS
• 2014-04-16 Listing Removed — HARMLS
• 2014-03-18 Relisted — HARMLS
• 2014-03-10 Pending — HARMLS
• 2014-03-05 Listed $290,000 HARMLS
• 2010-06-01 Listing Removed — HARMLS
• 2009-04-16 Listed $229,900 HARMLS
• 2009-04-15 Listing Removed — HARMLS
• 2009-02-10 Listed $180,000 HARMLS
• 2008-10-11 Listing Removed — HARMLS
• 2008-09-08 Listed $249,900 HARMLS

Property tax history

+1.1%/yr

Latest (2025): $6,696 · -6.6% YoY. Source: county tax records.