52Days on Market

1view

$835,000

1518 Dorothy Street, Houston, TX, 77008

On Market

3 Beds

2 Bath

1,815 Sq Ft

Single Family Residence

$460.06 / sqft

Built in 1923

Property Lead Type:

High EquityMove-In Ready

Highlights

Interior

Bedrooms 3

Bathrooms Full 3

Garage Available

Heating Central

Cooling

AppliancesENERGY STAR Qualified Appliances, Disposal, Electric Oven, Gas Oven, Microwave, Dishwasher, Dryer, Refrigerator, Washer

FlooringCarpet, Concrete, Tile

Exterior

Lot Size5,001 sqft

Building Information

Year Built1923

Garage Spaces1

Land Information

APN0391120000303

Lot Number303,304

SubdivisionHouston Heights Annex

Land UseResidential

Legal DescriptionLTS 303 & 304 HOUSTON HEIGHTS ANNEX

Census Tract511301

Assessed Land Value$475,000

Assessed Improvement Value$118,000

Assessment Year2025

About this property

Rare opportunity to own the last original bungalow on the block in one of the Heights' most walkable locations, directly across from Heights Bier Garten and steps from restaurants, bars, coffee, and neighborhood amenities. Offering 1,815 SF of combined living space, the property features two residences on one lot: a 1,203 SF main house with 3 bedrooms and 2 bathrooms, plus a detached 612 SF ADU with 1 bedroom and 1 bathroom fully renovated in 2024. Ideal for owner-occupants, multigenerational living, or investors, the property currently generates $5,340/month in rental income. Updates include quartz countertops, stainless steel appliances, renovated bathrooms, updated PEX/PVC plumbing, spray foam insulation, LeafGuard gutters, French drains, fresh exterior paint, an oversized driveway with five off-street parking spaces, and a low-maintenance xeriscaped yard. No HOA. Tenant occupied. Please do not disturb tenants. Showings by appointment only.

Investor Tools

$492,854Estimated Mortgage Balance

$150,146Estimated Equity

23% equity

Estimated Cap Rate

View Rate

Estimated ARV (After-Repair Value)

Calculate ARV

Rent-to-Value Ratio: 0.72%

Rent Estimate

$5,010 /month

Positive

Cash Flow Estimate:

$1,670 /month

Interested in this property?

Michael Greiner

My Castle Realty

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Financing Details

Estimated Taxes & Insurance

HOA Fees

Interest Rate Assumption

$1,024/month

No HOA

5.947%

Tax Information

Annual Taxes

Assessed Value

Assessment Year

Assessed Land

Assessed Improvement

Market Value

Tax Delinquent

$9,075

$593,000

2025

$475,000

$118,000

$593,000

Tax History

Year

Tax Paid

Assessed Value

2024

$9,075

$593,000

Mortgage Details

Lender

Loan Type

Loan Amount

Assumable

Position

Origination Date

Maturity Date

Bayway Mortgage Group

Conventional

$495,000

First

Mar 20, 2026

Apr 2056

Equity Summary

Est. Mortgage Balance

Est. Equity

Equity %

LTV

Est. Monthly Payment

$492,854

$150,146

23%

77%

$2,968/mo

Rental Potential

Est. Monthly Rent

Est. Monthly Expenses

Est. Cash Flow

Gross Yield

$2,230/mo

$2,968/mo

$-738/mo

4.2%

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