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$653,000

NAL Estimated Property Value

1031 W Melwood St, Houston, TX, 77009

Off MarketInfo
Beds2 Beds
Baths2 Bath
Baths1,350 Sq Ft
price_per_sqft$462.96 / sqft
Year BuiltBuilt in 1928

Property Lead Type:

Off-Market ListAbsentee OwnerMove-In Ready

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 2Bathrooms Full 2
Indoor FireplaceIndoor Fireplace
Garage AvailableGarage Available
Heating CentralHeating Central
CoolingCooling
AppliancesGas Oven, Microwave, Gas Cooktop, Dishwasher, Dryer, Refrigerator, Washer
FlooringTile, Wood

Exterior

Lot Size5,001 sqft

Building Information

Year Built1928
Stories1
Garage Spaces1

Land Information

APN0621020000013
Lot Number13
SubdivisionNorth Norhill
Land UseResidential
Legal DescriptionLT 13 BLK 123 NORTH NORHILL
Census Tract511400
Assessed Land Value$450,000
Assessed Improvement Value$200,000
Assessment Year2025

About this property

Beautifully updated 2 bedroom, 2 bath bungalow with charming interiors and gorgeous outdoor space. Enjoy the evening breeze on the large front porch. Once you step inside this renovated 1928 home you see the mixture of old and new and will appreciate the attention to detail throughout the space. Large sun filled living space with a fireplace, built-in bookshelves and french doors leading to a spacious dining room. Updated kitchen with stainless steel appliances, gas range, recent dishwasher, and floor tile. Primary en suite has been updated with a large walk-in shower. Backyard oasis with recent deck, artificial turf, natural gas fire pit and irrigation system. Other upgrades include: foundation re-leveling, closed cell spray insulation, full interior and exterior paint, cedar fence on North and West sides of property, and updated A/C with whole house media air cleaner.

Investor Tools

Property Icon
$653,000
Estimated Property Value
$552,291Estimated Mortgage Balance
$100,709Estimated Equity
17% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$3,918 /month
Positive
Cash Flow Estimate:
$1,306 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,150/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$10,532
$650,000
2025
$450,000
$200,000
$650,000
No

Tax History

Year
Tax Paid
Assessed Value
2024
$10,532
$650,000

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Broker Solutions Inc
Conventional
$593,750
No
First
Aug 30, 2022
Sep 2052

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$552,291
$115,709
17%
85%
$3,560/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,307/mo
$3,560/mo
$-2,253/mo
2.4%

Learn About the Market: Opportunity in Houston

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Explore

Houston

Houston is one of the most economically diverse metros in the country — and one of its most globally connected. Known as the Energy Capital of the World, the city also anchors the Texas Medical Center, a massive port, and a thriving aerospace presence tied to NASA’s Johnson Space Center.

From refinery corridors to world-class hospitals, from international trade routes to master-planned suburbs like The Woodlands and Katy, Houston’s economy runs deep and wide. It’s a city built on industry, immigration, and resilience — with housing markets as varied as its population.

Explore Texas Explore This Area
Population Growth

Population Growth

~1.2%

Net Migration

Net Migration

Positive

Median Home Price

Median Home Price

$261,700

Unemployment Rate

Unemployment Rate

4.10%

Price Trend

Price Trend

~2–4% YoY growth

New Permits

New Permits

~6,800 units

City: Houston

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