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Days161Days on Market
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$309,500

$319,500

607 Melwood Street, Houston, TX, 77009

On MarketInfo
Price DropInfo
Baths0 Bath
Baths1,232 Sq Ft

Highlights

Interior

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

Cleared corner lot located in the highly desirable Brooke Smith / Greater Heights area. Property is currently being replatted into two build-ready lots, ideal for detached new-construction homes. Strong resale demand and fast absorption make this a prime infill opportunity for small to mid-size builders. Cleared site – no demo required • Corner lot – enhanced design flexibility & curb appeal • Replated into two ~2,500 SF lots (approx.) • Minutes to Downtown, Heights, and Washington Ave • Proven new-construction resale demand This listing is for the full 5000sqft lot but is also subdivided in 2 of 2500sqft

Investor Tools

$247,085Estimated Mortgage Balance
$92,619Estimated Equity
27% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$2,038 /month
Positive
Cash Flow Estimate:
$679 /month

Interested in this property?

Fabian Toledo

PAK Home Realty

ContactContact

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$695/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
$247,085
$92,619
27%
73%
$1,500/mo

Rental Potential

Est. Monthly Rent
Est. Monthly Expenses
Est. Cash Flow
Gross Yield
$1,307/mo
$1,500/mo
$-193/mo
4.6%

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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