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$359,000

NAL Estimated Property Value

607 Melwood St, Houston, TX, 77009

Off MarketInfo
Beds2 Beds
Baths1 Bath
Baths1,232 Sq Ft
price_per_sqft$291.4 / sqft
Year BuiltBuilt in 1930

Property Lead Type:

Deal ListAbsentee OwnerHigh EquityVacant Homes

Highlights

Interior

Bedrooms 2Bedrooms 2
Bathrooms Full 1Bathrooms Full 1
Garage AvailableGarage Available
HeatingHeating

Exterior

Lot Size5,001 sqft

Building Information

Year Built1930
Garage Spaces1

Land Information

APN0330960000012
Lot Number12
SubdivisionBrooke Smith
Land UseResidential
Legal DescriptionLT 12 BLK 30 BROOKE SMITH
Census Tract511600
Assessed Land Value$300,000
Assessed Improvement Value$39,704
Assessment Year2025

About this property

AMAZING OPPORTUNITY TO OWN THIS CORNET LOT IN THE DESIREABLE HEIGHTS AREA!!! Very well located, at only few steps from major highway! minutes from Downtown Houston and ready for a home owner or investor project. A single family home with a garage apt was there before lot was cleared.

Investor Tools

Property Icon
$359,000
Estimated Property Value
$247,454Estimated Mortgage Balance
$111,546Estimated Equity
29% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,154 /month
Positive
Cash Flow Estimate:
$718 /month

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$703/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$6,644
$339,704
2025
$300,000
$39,704
$339,704
Yes (2022)

Tax History

Year
Tax Paid
Assessed Value
2024
$6,644
$339,704

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Savannah Ridge Investment Trust
Building Or Construction Loan
$200,000
No
First
Oct 3, 2025
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$247,454
$102,546
29%
69%
$1,500/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,307/mo
$1,500/mo
$-193/mo
4.4%

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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607 Melwood St | Property Details | No Agent List