715 11th St Unit A and B · San Leon, TX 77539

$179,000

2 bd · 1.0 ba · 1,800 sqft · Condo · 92 Days on market

Built 2017 Good condition ↓ 20% since listing

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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 +20.1/30.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• 1% rule +5.3/10.0
• Condition / age +4.0/5.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The sale includes both Unit A and Unit B of this duplex. Unit A (left side) is available to preview. Unit B (right side) is on a month to month lease. Each unit has recently had new electrical and water connections installed, and the seller has equipped them with new mini split systems. Both units feature two bedrooms and one bathroom. The left unit underwent a fresh renovation September 2025, while the right unit was remodeled a few years ago. Recent upgrades include new water heaters, a new porch with a privacy wall separating the units, new stoves, refrigerators, flooring, countertops, and updates to the bathrooms and hardware. The seller also raised the home above the flood elevation level and added privacy fencing along the right side of the property. You have the option to rent both sides for cash flow, live in one unit and rent the other, or use it as a family compound.Call the listing agent to get more details!!

Key facts

• New porch
• New water heaters
• Fresh renovation

Tags

• NEW ELECTRICAL CONNECTIONS
• NEW WATER CONNECTIONS
• NEW MINI SPLIT SYSTEMS
• FRESH RENOVATION
• NEW WATER HEATERS
• NEW PORCH

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $179k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-202 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (16.3% below list).
• Meets the 1% rule at list price ($2k rent vs $179k).
• Recommended offer: $150k (16.3% below list) — sets the bar for cash-flow.
• Cap rate 7.8% vs local median 1.7% in San Leon — 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 62/100 on livability (#899 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: amenities F, commute F, health & safety F.
• Dickinson ISD (suburban): math 39% / reading 40% proficiency, ranked #366 of 826 in TX (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: San Leon El (math 27% / reading 23%, grade F, #3,013 of 4,322 statewide, top 70%, 658 students, 84% FRL); R D Mcadams J H (math 32% / reading 40%, grade F, #805 of 1,662 statewide, top 50%, 950 students, 65% FRL); Dickinson H S (math 30% / reading 46%, grade F, #880 of 1,632 statewide, top 54%, 3,619 students, 64% FRL).
• Market conditions: Rents soft (-0.1%/yr); 678 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Galveston County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 92 days — a 9% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 11 sale attempts since 3y ago; this cycle's ask has dropped $16k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→27/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $149,749 (16.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.03% ✓
• Cap rate: 7.80%
• Cash-on-cash: 5.37%
• DSCR: 1.24
• GRM: 8.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -29.1%
• Equity multiple: 0.06×
• Total profit: $-47,012
• Equity at exit: $26,689

10-year hold

• IRR: -58.3%
• Equity multiple: -0.54×
• Total profit: $-77,289
• Equity at exit: $15,477

Cash invested: $50,120 (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 77539

• Home prices YoY: -29.8%
• Rents YoY: -0.1%
• Active inventory: 678
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,850 medium
• Mortgage (P&I): −$939
• Tax est. 1.5%: −$224 /mo · $2,685/yr
• Insurance: −$75
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $-202

Break-even live

Break-even rent $2,106

Max offer price $149,749

Occupancy floor —

Sensitivity live

Price	-10% $-78	-5% $-140	+0% $-202	+5% $-264	+10% $-326
Rent	-10% $-348	-5% $-275	+0% $-202	+5% $-129	+10% $-56
Rate	-1.0pp $-112	-0.5pp $-157	base $-202	+0.5pp $-249	+1.0pp $-296

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: $44,750
• Closing costs: $5,370
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
535 12th St Dickinson, TX	3.0	2.0	1248	$1,950	$1.56	0d	1	0.19mi
713 6th St Dickinson, TX	1.0	1.0	1332	$1,799	$1.35	12d	1	0.35mi
335 6th St Dickinson, TX	3.0	2.0	1479	$1,850	$1.25	45d	1	0.56mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: waterelectric
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-03
   days on market $179,000 Pending 92 DOM
2. 2026-06-02
   days on market $179,000 Pending 91 DOM
3. 2026-06-01
   days on market $179,000 Pending 90 DOM
4. 2026-05-31
   days on market $179,000 Pending 89 DOM
5. 2026-05-01
   price $179,000 933-char remark

   Show marketing remark (933 chars)

   The sale includes both Unit A and Unit B of this duplex. Unit A (left side) is available to preview. Unit B (right side) is on a month to month lease. Each unit has recently had new electrical and water connections installed, and the seller has equipped them with new mini split systems. Both units feature two bedrooms and one bathroom. The left unit underwent a fresh renovation September 2025, while the right unit was remodeled a few years ago. Recent upgrades include new water heaters, a new porch with a privacy wall separating the units, new stoves, refrigerators, flooring, countertops, and updates to the bathrooms and hardware. The seller also raised the home above the flood elevation level and added privacy fencing along the right side of the property. You have the option to rent both sides for cash flow, live in one unit and rent the other, or use it as a family compound.Call the listing agent to get more details!!

6. 2026-05-01
   status Active 933-char remark

   Show marketing remark (933 chars)

   The sale includes both Unit A and Unit B of this duplex. Unit A (left side) is available to preview. Unit B (right side) is on a month to month lease. Each unit has recently had new electrical and water connections installed, and the seller has equipped them with new mini split systems. Both units feature two bedrooms and one bathroom. The left unit underwent a fresh renovation September 2025, while the right unit was remodeled a few years ago. Recent upgrades include new water heaters, a new porch with a privacy wall separating the units, new stoves, refrigerators, flooring, countertops, and updates to the bathrooms and hardware. The seller also raised the home above the flood elevation level and added privacy fencing along the right side of the property. You have the option to rent both sides for cash flow, live in one unit and rent the other, or use it as a family compound.Call the listing agent to get more details!!

7. 2026-04-27
   status Pending 933-char remark

   Show marketing remark (933 chars)

   The sale includes both Unit A and Unit B of this duplex. Unit A (left side) is available to preview. Unit B (right side) is on a month to month lease. Each unit has recently had new electrical and water connections installed, and the seller has equipped them with new mini split systems. Both units feature two bedrooms and one bathroom. The left unit underwent a fresh renovation September 2025, while the right unit was remodeled a few years ago. Recent upgrades include new water heaters, a new porch with a privacy wall separating the units, new stoves, refrigerators, flooring, countertops, and updates to the bathrooms and hardware. The seller also raised the home above the flood elevation level and added privacy fencing along the right side of the property. You have the option to rent both sides for cash flow, live in one unit and rent the other, or use it as a family compound.Call the listing agent to get more details!!

8. 2026-03-10
   status Active 933-char remark

   Show marketing remark (933 chars)

   The sale includes both Unit A and Unit B of this duplex. Unit A (left side) is available to preview. Unit B (right side) is on a month to month lease. Each unit has recently had new electrical and water connections installed, and the seller has equipped them with new mini split systems. Both units feature two bedrooms and one bathroom. The left unit underwent a fresh renovation September 2025, while the right unit was remodeled a few years ago. Recent upgrades include new water heaters, a new porch with a privacy wall separating the units, new stoves, refrigerators, flooring, countertops, and updates to the bathrooms and hardware. The seller also raised the home above the flood elevation level and added privacy fencing along the right side of the property. You have the option to rent both sides for cash flow, live in one unit and rent the other, or use it as a family compound.Call the listing agent to get more details!!

9. 2026-03-09
   status Pending 933-char remark

   Show marketing remark (933 chars)

   The sale includes both Unit A and Unit B of this duplex. Unit A (left side) is available to preview. Unit B (right side) is on a month to month lease. Each unit has recently had new electrical and water connections installed, and the seller has equipped them with new mini split systems. Both units feature two bedrooms and one bathroom. The left unit underwent a fresh renovation September 2025, while the right unit was remodeled a few years ago. Recent upgrades include new water heaters, a new porch with a privacy wall separating the units, new stoves, refrigerators, flooring, countertops, and updates to the bathrooms and hardware. The seller also raised the home above the flood elevation level and added privacy fencing along the right side of the property. You have the option to rent both sides for cash flow, live in one unit and rent the other, or use it as a family compound.Call the listing agent to get more details!!

10. 2026-03-03
    listed $195,000 Active 933-char remark

    Show marketing remark (933 chars)

    The sale includes both Unit A and Unit B of this duplex. Unit A (left side) is available to preview. Unit B (right side) is on a month to month lease. Each unit has recently had new electrical and water connections installed, and the seller has equipped them with new mini split systems. Both units feature two bedrooms and one bathroom. The left unit underwent a fresh renovation September 2025, while the right unit was remodeled a few years ago. Recent upgrades include new water heaters, a new porch with a privacy wall separating the units, new stoves, refrigerators, flooring, countertops, and updates to the bathrooms and hardware. The seller also raised the home above the flood elevation level and added privacy fencing along the right side of the property. You have the option to rent both sides for cash flow, live in one unit and rent the other, or use it as a family compound.Call the listing agent to get more details!!

11. 2025-12-31
    historical
12. 2025-11-07
    price $174,900
13. 2025-10-24
    price $189,000
14. 2025-10-12
    listed $195,000 Active
15. 2025-04-03
    historical
16. 2025-03-31
    status Active
17. 2025-03-25
    status Option Pending
18. 2025-03-23
    price $175,000
19. 2025-03-22
    listed $239,900 Active
20. 2025-02-28
    historical
21. 2025-01-27
    price $175,000
22. 2025-01-08
    price $179,000
23. 2024-12-28
    listed $200,000 Active
24. 2024-01-01
    historical $1,200
25. 2023-12-31
    historical
26. 2023-11-14
    price $219,000
27. 2023-10-25
    listed $1,200
28. 2023-10-24
    listed $234,900 Active
29. 2023-10-16
    historical
30. 2023-09-15
    price $234,900
31. 2023-09-02
    status Active
32. 2023-08-31
    historical
33. 2023-06-17
    listed $224,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 10/10 Extreme FEMA zone AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥107°F today · 27 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,199
• − Mortgage interest: −$10,027
• − Property taxes: −$2,685
• − Insurance: −$6,014
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$5,207
• Taxable loss: −$5,286
• Est. tax savings @ 24.0%: +$1,269
• After-tax cash flow: $-1,157/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.

Condition & rehab AI · 2 photos

Good 80/100 Cosmetic rehab

This multi-family property has recently undergone cosmetic renovations, including new flooring, appliances, and systems, making it move-in ready and well-suited for both resale and rental.

Value-add opportunities

• Both New landscaping and curb appeal — Enhances curb appeal and property value.
• Both New privacy wall — Improves privacy and enhances property value.
• Both New flooring — Improves aesthetics and functionality.
• Both New mini split systems — Reduces energy costs and enhances comfort.

Renovation cost estimate screening

Value-add ROI direction

• Both New landscaping and curb appeal — Enhances curb appeal and property value. ↑
• Both New privacy wall — Improves privacy and enhances property value. ↑
• Both New flooring — Improves aesthetics and functionality. ↑
• Both New mini split systems — Reduces energy costs and enhances comfort. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Dickinson ISD
• NCES district ID: 4817070
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $61,318
• Composite: 35.16/100
• National rank: #5005
• State rank: #366 of 826 in TX

Livability — San Leon

• Score: 62/100
• State rank: #899
• US rank: #16159

Category grades

Amenities F Commute F Cost of living A+ Crime C+ Employment B+ Housing A+ Health & safety F User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Leon, TX
• County: Galveston County · 357,330 people
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 49,375
• Household income: $89,111
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 869.0

Population outlook (Galveston County) Hauer SSP2

• Today (2025): 390,640 people
• By 2030: 425,226 · +8.9%
• By 2040: 493,765 · +26.4%
• By 2050: 559,698 · +43.3%
• By 2075: 719,260 · +84.1%
• By 2100: 819,628 · +109.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 47% Hispanic / Latino 37% Two or more races 19% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 29% Puerto Rican 2%
• Common ancestry: Italian 3% Romanian 2% Lithuanian 1%
• Foreign-born: 13% · Canada, Vietnam
• Languages at home: 73% English-only · Spanish 24% Vietnamese 1% Other Indo-European 1%

Political lean MEDSL · Galveston

• 2024 margin: Strong R (+27.4) · D 35.7% · R 63.1% · Other 1.2%
• 2008→2024 swing: -7.9pp toward R · 2008: -19.5pp · 2024: -27.4pp
• All cycles: 2024: R+27.4 2020: R+22.6 2016: R+22.6 2012: R+26.9 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -109.46%
• Current HPI: 258.0104
• Rent YoY: ▼ -0.12%
• 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

-20.4% since first listed

29 events — show timeline

• 2026-05-01 Price Changed $179,000 HARMLS
• 2026-05-01 Relisted — HARMLS
• 2026-04-27 Pending — HARMLS
• 2026-03-10 Relisted — HARMLS
• 2026-03-09 Pending — HARMLS
• 2026-03-03 Listed $195,000 HARMLS
• 2025-12-31 Listing Removed — HARMLS
• 2025-11-07 Price Changed $174,900 HARMLS
• 2025-10-24 Price Changed $189,000 HARMLS
• 2025-10-12 Listed $195,000 HARMLS
• 2025-04-03 Listing Removed — HARMLS
• 2025-03-31 Relisted — HARMLS
• 2025-03-25 Pending — HARMLS
• 2025-03-23 Price Changed $175,000 HARMLS
• 2025-03-22 Listed $239,900 HARMLS
• 2025-02-28 Listing Removed — HARMLS
• 2025-01-27 Price Changed $175,000 HARMLS
• 2025-01-08 Price Changed $179,000 HARMLS
• 2024-12-28 Listed $200,000 HARMLS
• 2024-01-01 Rental Removed $1,200 HARMLS
• 2023-12-31 Listing Removed — HARMLS
• 2023-11-14 Price Changed $219,000 HARMLS
• 2023-10-25 Listed for Rent $1,200 HARMLS
• 2023-10-24 Listed $234,900 HARMLS
• 2023-10-16 Listing Removed — HARMLS
• 2023-09-15 Price Changed $234,900 HARMLS
• 2023-09-02 Relisted — HARMLS
• 2023-08-31 Listing Removed — HARMLS
• 2023-06-17 Listed $224,900 HARMLS