505 13th St N · Texas City, TX 77590

$184,900

4 bd · 2.0 ba · 1,896 sqft · MultiFamily public records · 129 Days on market

Built 1965 8,125 sqft lot $98/sqft · at area comps Est $182k · at est.

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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 +25.6/30.0
• DSCR +8.5/10.0
• 1% rule +7.1/10.0
• ARV discount +6.8/15.0
• Rent growth +3.7/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Fully remodeled duplex (2021) with new plumbing, electrical panel, kitchen, bath, appliances, and water heater. Floors are wood and have a rustic aesthetic for warm appearance. Cooling/heating via window units. Turnkey investment featuring a reliable, long-term, on-time tenant. Perfect for your portfolio!

Key facts

• Remodeled duplex
• New bath
• New plumbing

Tags

• REMODELED DUPLEX
• NEW PLUMBING
• NEW ELECTRICAL PANEL
• NEW KITCHEN
• NEW BATH
• NEW APPLIANCES

What this means for you Summary

Snapshot

• This is a 2 × 2-bed/1.0-bath units multifamily listed at $185k.

Deal economics

• At list price, monthly cash flow is $372 ($4k/yr) — positive. Per door: $186/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $185k).
• Recommended offer: $163k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 4.3% in Texas City — 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 (#907 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D+, schools F, amenities F.
• Texas City ISD (suburban): math 28% / reading 29% proficiency, ranked #655 of 826 in TX (top 79%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 294 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 3,258 units permitted in Galveston County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $52k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 2→9/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $162,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
10. 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.
11. 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.
12. 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: 1.21% ✓
• Cap rate: 9.14%
• Cash-on-cash: 10.15%
• DSCR: 1.45
• GRM: 6.9

CMA / ARV

• ARV (median comp): $181,919
• List price: $184,900
• Delta: 1.64%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1212 2nd Ave N	0.21mi	4/1.0	1,694 (-11%)	14mo	$145,000	$86	57

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.91% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.97×
• Total profit: $-1,808
• Equity at exit: $27,569

10-year hold

• IRR: 10.9%
• Equity multiple: 1.93×
• Total profit: $48,038
• Equity at exit: $15,987

Cash invested: $51,772 (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 77590

• Home prices YoY: -19.3%
• Rents YoY: 4.9%
• Active inventory: 294
• Price-to-rent: 13.8×

Monthly cashflow live

• Estimated rent: $2,239 high
• Mortgage (P&I): −$970
• Tax from tax record: −$284 /mo · $3,410/yr
• Insurance: −$77
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $372

Break-even live

Break-even rent $1,769

Max offer price $184,900

Occupancy floor 78%

Sensitivity live

Price	-10% $476	-5% $424	+0% $372	+5% $319	+10% $267
Rent	-10% $195	-5% $283	+0% $372	+5% $460	+10% $548
Rate	-1.0pp $465	-0.5pp $419	base $372	+0.5pp $324	+1.0pp $275

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$2,240
Total (2 units)			$2,239

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1137 1st Ave N Texas City, TX	5.0	2.0	1786	$1,775	$0.99	25d	1	0.34mi
1231 23rd St N Texas City, TX	4.0	2.0	1330	$1,500	$1.13	0d	1	0.98mi
2526 3rd 1/2 Ave N Texas City, TX	3.0	2.0	1240	$1,550	$1.25	25d	1	1.07mi
128 7th Ave N Texas City, TX	3.0	2.0	1329	$1,495	$1.12	0d	1	1.08mi
2418 14th Ave N Texas City, TX	3.0	2.0	1488	$1,775	$1.19	4d	1	1.13mi
1139 Mainland Dr Texas City, TX	3.0	2.0	2500	$2,100	$0.84	2d	1	1.17mi
2714 5th Ave N Texas City, TX	3.0	2.0	1382	$1,800	$1.30	45d	1	1.25mi
625 26th Ave N Texas City, TX	4.0	2.0	1782	$1,945	$1.09	45d	1	1.43mi

Listing history 26 events

1. 2026-06-21
   days on market $184,900 Active 129 DOM
2. 2026-06-18
   days on market $184,900 Active 126 DOM
3. 2026-06-17
   days on market $184,900 Active 125 DOM
4. 2026-06-16
   days on market $184,900 Active 124 DOM
5. 2026-06-15
   days on market $184,900 Active 123 DOM
6. 2026-06-13
   days on market $184,900 Active 121 DOM
7. 2026-06-09
   days on market $184,900 Active 117 DOM
8. 2026-06-08
   days on market $184,900 Active 116 DOM
9. 2026-06-07
   days on market $184,900 Active 115 DOM
10. 2026-06-04
    days on market $184,900 Active 112 DOM
11. 2026-06-03
    days on market $184,900 Active 111 DOM
12. 2026-06-02
    days on market $184,900 Active 110 DOM
13. 2026-06-01
    days on market $184,900 Active 109 DOM
14. 2026-05-31
    days on market $184,900 Active 108 DOM
15. 2026-04-01
    price $855
16. 2026-02-15
    price $875
17. 2026-02-12
    listed $184,900 Active 306-char remark

    Show marketing remark (306 chars)

    Fully remodeled duplex (2021) with new plumbing, electrical panel, kitchen, bath, appliances, and water heater. Floors are wood and have a rustic aesthetic for warm appearance. Cooling/heating via window units. Turnkey investment featuring a reliable, long-term, on-time tenant. Perfect for your portfolio!

18. 2025-12-11
    listed $895
19. 2025-12-11
    historical $895
20. 2025-12-09
    listed $895
21. 2020-01-07
    soldstatus
22. 2019-12-17
    soldstatus
23. 2019-12-13
    soldstatus Sold 28-char remark

    Show marketing remark (28 chars)

    Good location in Texas City.

24. 2019-12-08
    status Pending 28-char remark

    Show marketing remark (28 chars)

    Good location in Texas City.

25. 2019-12-05
    listed $40,000 Active 28-char remark

    Show marketing remark (28 chars)

    Good location in Texas City.

26. 2006-12-27
    soldstatus

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

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $3,410 · $284/mo
• Projected year-2 tax: $3,410 · $284/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X · 76% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 2 d/yr ≥108°F today · 9 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,868
• − Mortgage interest: −$10,357
• − Property taxes: −$3,410
• − Insurance: −$1,722
• − Repairs & maintenance: −$2,149
• − Management: −$2,149
• − Depreciation: −$5,379
• Taxable income: $1,701
• Est. tax owed @ 24.0%: −$408
• After-tax cash flow: $4,050/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.

Schools (NCES district)

• District: Texas City ISD
• NCES district ID: 4842510
• Math proficiency: 28% ▼ -10.00%
• Reading proficiency: 29% ▼ -4.00%
• Median HH income: $44,875
• Composite: 24.47/100
• National rank: #7664
• State rank: #655 of 826 in TX

Livability — Texas City

• Score: 62/100
• State rank: #907
• US rank: #16268

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Texas City, TX
• County: Galveston County · 357,330 people
• City population: 49,936
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 31,642
• Household income: $65,801
• Rent vs Own: 47.6% rent · 52.4% own
• Severe rent burden: 1821.0

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 0.66)
• Race & ethnicity: White 41% Hispanic / Latino 38% Two or more races 20% Black 17% Asian 2%
• Hispanic origin (detail): Mexican 33% Puerto Rican 1%
• Common ancestry: Lithuanian 2% Slovak 1% Italian 1%
• Foreign-born: 9% · Canada, Vietnam
• Languages at home: 72% English-only · Spanish 26% 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: ▼ -58.35%
• Current HPI: 244.5809
• Rent YoY: ▲ 4.91%
• 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

+362.2% since first listed

12 events — show timeline

• 2026-04-01 Price Changed $855 HARMLS
• 2026-02-15 Price Changed $875 HARMLS
• 2026-02-12 Listed $184,900 HARMLS
• 2025-12-11 Listed for Rent $895 HARMLS
• 2025-12-11 Rental Removed $895 APPFOLIO
• 2025-12-09 Listed for Rent $895 APPFOLIO
• 2020-01-07 Sold (Public Records) — Public Records
• 2019-12-17 Sold (Public Records) — Public Records
• 2019-12-13 Sold (MLS) — HARMLS
• 2019-12-08 Pending — HARMLS
• 2019-12-05 Listed $40,000 HARMLS
• 2006-12-27 Sold (Public Records) — Public Records

Property tax history

+18.1%/yr

Latest (2025): $3,410 · +18.0% YoY. Source: county tax records.