5516 Avenue M 1/2 · Santa Fe, TX 77510

$265,000

3 bd · 1.5 ba · 1,080 sqft · SingleFamily public records · 67 Days on market

Built 1970 0.49 ac lot $245/sqft · 41% above area Est $188k · 41% over

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Why this score? — see what drove the D- 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 +15.0/30.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

FREEDOM MEETS FUNCTION! Tucked away on a sprawling nearly half-acre corner lot, this 3-bedroom, 2-bathroom Santa Fe retreat is the antidote to cramped city living. Forget the restrictive HOAs—here, you have the space to breathe and the liberty to bring your boat, RV, or trailer. The interior features a functional floor plan with all bedrooms down, a gas-equipped kitchen, and a double-wide driveway for plenty of parking. Outside, the massive backyard is a blank canvas for your dream workshop, garden, or weekend BBQ headquarters. Zoned to the sought-after Santa Fe ISD and perfectly positioned for a quick commute to the medical hubs of League City or the shores of Galveston. Whether you’re a first-time buyer or looking to downsize without losing your yard, this property delivers the ultimate "country-quiet" lifestyle. Experience the Signature Difference and claim your piece of Texas today!

Key facts

• Privacy
• No hoa restrictions
• Outdoor space

Tags

• COUNTRY LIFESTYLE
• NO HOA RESTRICTIONS
• OUTDOOR SPACE
• ROOM TO EXPAND
• PRIVACY
• ZONED TO SANTA FE ISD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $27k ($329k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($37k rent vs $265k).
• Recommended offer: $249k (6.0% below list) — sets the bar for market timing.
• Cap rate 130.3% vs local median 4.5% in Santa Fe — 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 67/100 on livability (#550 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Santa Fe ISD (suburban): math 38% / reading 39% proficiency, ranked #385 of 826 in TX (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 233 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $8k 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 + 3.0% rent growth), your $74k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($249k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $249,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 14.02% ✓
• Cap rate: 130.33%
• Cash-on-cash: 442.99%
• DSCR: 20.71
• GRM: 0.6

CMA / ARV

• ARV (median comp): $187,904
• List price: $265,000
• Delta: 41.03%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12222 24th St	0.27mi	2/1.0 (-1)	1,056 (-2%)	8mo	$125,000	$118	70
11909 22nd St	0.68mi	2/1.0 (-1)	1,100 (+2%)	6mo	$219,900	$200	53
12050 25th St	0.45mi	2/1.0 (-1)	1,000 (-7%)	10mo	$190,000	$190	51
11909 23rd St	0.65mi	3/1.5	1,188 (+10%)	11mo	$129,900	$109	44
5821 Fm 646 Rd S	0.72mi	2/1.0 (-1)	971 (-10%)	24mo	$120,000	$124	23

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 23.94×
• Total profit: $1,702,280
• Equity at exit: $39,512

10-year hold

• IRR: —
• Equity multiple: 51.29×
• Total profit: $3,731,338
• Equity at exit: $22,912

Cash invested: $74,200 (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 77510

• Home prices YoY: -15.3%
• Active inventory: 233
• Price-to-rent: 0.6×

Monthly cashflow live

• Estimated rent: $37,150 medium
• Mortgage (P&I): −$1,390
• Tax from tax record: −$457 /mo · $5,487/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$7,802
• Net cashflow: $27,392

Break-even live

Break-even rent $2,478

Max offer price $265,000

Occupancy floor 21%

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: $66,250
• Closing costs: $7,950
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11844 13th St Santa Fe, TX	3.0	2.0	1472	$1,750	$1.19	22d	1	0.94mi
4120 Avenue O #10 Santa Fe, TX	3.0	2.0	1280	$74,621	$58.30	43d	1	1.15mi

Listing history 12 events

1. 2026-05-12
   status Active 921-char remark

   Show marketing remark (921 chars)

   FREEDOM MEETS FUNCTION! Tucked away on a sprawling nearly half-acre corner lot, this 3-bedroom, 2-bathroom Santa Fe retreat is the antidote to cramped city living. Forget the restrictive HOAs—here, you have the space to breathe and the liberty to bring your boat, RV, or trailer. The interior features a functional floor plan with all bedrooms down, a gas-equipped kitchen, and a double-wide driveway for plenty of parking. Outside, the massive backyard is a blank canvas for your dream workshop, garden, or weekend BBQ headquarters. Zoned to the sought-after Santa Fe ISD and perfectly positioned for a quick commute to the medical hubs of League City or the shores of Galveston. Whether you’re a first-time buyer or looking to downsize without losing your yard, this property delivers the ultimate "country-quiet" lifestyle. Experience the Signature Difference and claim your piece of Texas today!

2. 2026-05-05
   status Pending 921-char remark

   Show marketing remark (921 chars)

   FREEDOM MEETS FUNCTION! Tucked away on a sprawling nearly half-acre corner lot, this 3-bedroom, 2-bathroom Santa Fe retreat is the antidote to cramped city living. Forget the restrictive HOAs—here, you have the space to breathe and the liberty to bring your boat, RV, or trailer. The interior features a functional floor plan with all bedrooms down, a gas-equipped kitchen, and a double-wide driveway for plenty of parking. Outside, the massive backyard is a blank canvas for your dream workshop, garden, or weekend BBQ headquarters. Zoned to the sought-after Santa Fe ISD and perfectly positioned for a quick commute to the medical hubs of League City or the shores of Galveston. Whether you’re a first-time buyer or looking to downsize without losing your yard, this property delivers the ultimate "country-quiet" lifestyle. Experience the Signature Difference and claim your piece of Texas today!

3. 2026-04-10
   price $265,000 921-char remark

   Show marketing remark (921 chars)

   FREEDOM MEETS FUNCTION! Tucked away on a sprawling nearly half-acre corner lot, this 3-bedroom, 2-bathroom Santa Fe retreat is the antidote to cramped city living. Forget the restrictive HOAs—here, you have the space to breathe and the liberty to bring your boat, RV, or trailer. The interior features a functional floor plan with all bedrooms down, a gas-equipped kitchen, and a double-wide driveway for plenty of parking. Outside, the massive backyard is a blank canvas for your dream workshop, garden, or weekend BBQ headquarters. Zoned to the sought-after Santa Fe ISD and perfectly positioned for a quick commute to the medical hubs of League City or the shores of Galveston. Whether you’re a first-time buyer or looking to downsize without losing your yard, this property delivers the ultimate "country-quiet" lifestyle. Experience the Signature Difference and claim your piece of Texas today!

4. 2026-03-21
   listed $270,000 Active 921-char remark

   Show marketing remark (921 chars)

   FREEDOM MEETS FUNCTION! Tucked away on a sprawling nearly half-acre corner lot, this 3-bedroom, 2-bathroom Santa Fe retreat is the antidote to cramped city living. Forget the restrictive HOAs—here, you have the space to breathe and the liberty to bring your boat, RV, or trailer. The interior features a functional floor plan with all bedrooms down, a gas-equipped kitchen, and a double-wide driveway for plenty of parking. Outside, the massive backyard is a blank canvas for your dream workshop, garden, or weekend BBQ headquarters. Zoned to the sought-after Santa Fe ISD and perfectly positioned for a quick commute to the medical hubs of League City or the shores of Galveston. Whether you’re a first-time buyer or looking to downsize without losing your yard, this property delivers the ultimate "country-quiet" lifestyle. Experience the Signature Difference and claim your piece of Texas today!

5. 2023-10-25
   soldstatus
6. 2023-10-23
   soldstatus Sold 280-char remark

   Show marketing remark (280 chars)

   Check out this lovely three bedroom home in the heart of Santa Fe! This home sits on a corner lot that is right under half an acre with a huge completely fenced back yard, no HOA & no back neighbors! Easy access to highway 6. Schedule your appointment to see this gem today.

7. 2023-10-07
   status Pending 280-char remark

   Show marketing remark (280 chars)

   Check out this lovely three bedroom home in the heart of Santa Fe! This home sits on a corner lot that is right under half an acre with a huge completely fenced back yard, no HOA & no back neighbors! Easy access to highway 6. Schedule your appointment to see this gem today.

8. 2023-09-27
   status Option Pending 280-char remark

   Show marketing remark (280 chars)

   Check out this lovely three bedroom home in the heart of Santa Fe! This home sits on a corner lot that is right under half an acre with a huge completely fenced back yard, no HOA & no back neighbors! Easy access to highway 6. Schedule your appointment to see this gem today.

9. 2023-09-21
   listed $249,900 Active 280-char remark

   Show marketing remark (280 chars)

   Check out this lovely three bedroom home in the heart of Santa Fe! This home sits on a corner lot that is right under half an acre with a huge completely fenced back yard, no HOA & no back neighbors! Easy access to highway 6. Schedule your appointment to see this gem today.

10. 2020-04-23
    soldstatus
11. 2018-07-09
    soldstatus
12. 1999-03-05
    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: $5,487 · $457/mo
• Projected year-2 tax: $5,487 · $457/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥110°F today · 26 d/yr by 30 yrs out
• 💨 Wind 9/10 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: $445,806
• − Mortgage interest: −$14,844
• − Property taxes: −$5,487
• − Insurance: −$1,325
• − Repairs & maintenance: −$35,664
• − Management: −$35,664
• − Depreciation: −$7,709
• Taxable income: $345,112
• Est. tax owed @ 24.0%: −$82,827
• After-tax cash flow: $245,872/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: Santa Fe ISD
• NCES district ID: 4839270
• Math proficiency: 38% ▼ -10.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $66,769
• Composite: 34.86/100
• National rank: #5091
• State rank: #385 of 826 in TX

Livability — Santa Fe

• Score: 67/100
• State rank: #550
• US rank: #10637

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Fe, TX
• Population (ZIP): 13,938

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: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 21% Two or more races 17% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 3% Cuban 1%
• Common ancestry: Lithuanian 4% Italian 3% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 10% Tagalog/Filipino 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: ▼ -54.15%
• Current HPI: 299.2228
• Rent YoY: —
• Metro: —
• 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

+6.0% since first listed

12 events — show timeline

• 2026-05-12 Relisted — HARMLS
• 2026-05-05 Pending — HARMLS
• 2026-04-10 Price Changed $265,000 HARMLS
• 2026-03-21 Listed $270,000 HARMLS
• 2023-10-25 Sold (Public Records) — Public Records
• 2023-10-23 Sold (MLS) — HARMLS
• 2023-10-07 Pending — HARMLS
• 2023-09-27 Pending — HARMLS
• 2023-09-21 Listed $249,900 HARMLS
• 2020-04-23 Sold (Public Records) — Public Records
• 2018-07-09 Sold (Public Records) — Public Records
• 1999-03-05 Sold (Public Records) — Public Records

Property tax history

+8.6%/yr

Latest (2025): $5,487 · +8.4% YoY. Source: county tax records.