184 Kelly St · Angleton, TX 77515

$214,900

4 bd · 2.5 ba · 1,813 sqft · SingleFamily public records · 17 Days on market

Built 2021 Good condition 6,878 sqft lot Garage $119/sqft · 17% below area Est $260k · 17% under $50/mo HOA · 2% of rent ↓ 18% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +12.1/30.0
• 1% rule +4.7/10.0
• Schools +3.9/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• DSCR +3.6/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

THIS IS THE DEAL YOU HAVE BEEN WAITING FOR! Built in 2021, this 4-bedroom, 2.5-bath home gives buyers over 1,800 square feet with the primary suite downstairs, an open kitchen and living area, an upstairs game room, and an attached two-car garage. Get all the benefits of new construction in a beautiful community, plus equity!!. The oversized backyard is the real bonus. Sitting on a cul-de-sac lot in Riverwood Ranch, there is plenty of room to entertain, play, garden, or create the outdoor setup you have been wanting. This is the lowest-priced home in the area, making it an incredible opportunity for a homeowner or even an investor looking for instant value.

Key facts

• Cul-de-sac lot
• New construction
• Upstairs game room

Tags

• OVERSIZED BACKYARD
• CUL-DE-SAC LOT
• OPEN KITCHEN AND LIVING AREA
• UPSTAIRS GAME ROOM
• ATTACHED TWO-CAR GARAGE
• NEW CONSTRUCTION

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $215k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-114 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $195k (9.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $208k (3.2% below list).
• Recommended offer: $195k (9.4% below list) — sets the bar for cash-flow.
• Cap rate 6.0% vs local median 4.3% in Angleton — 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 74/100 on livability (#171 in TX, #4,520 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: amenities F, commute F.
• Angleton ISD (suburban): math 36% / reading 44% proficiency, ranked #375 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Northside El (math 47% / reading 52%, grade D, #865 of 4,322 statewide, top 21%, 497 students, 67% FRL); Angleton J H School (math 26% / reading 41%, grade F, #911 of 1,662 statewide, top 56%, 1,561 students, 68% FRL); Angleton H S (math 22% / reading 45%, grade F, #1,011 of 1,632 statewide, top 63%, 2,066 students, 67% FRL).
• Market conditions: 1376 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 79d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,960 units permitted in Brazoria County in 2024 (593 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 $6k of value loss. Plan a longer hold.
• Brazoria County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 5y 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 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $194,806 (9.4% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
7. 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.
8. 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.
9. 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: 0.97% ✗
• Cap rate: 6.03%
• Cash-on-cash: -0.94%
• DSCR: 0.96
• GRM: 8.6

CMA / ARV

• ARV (median comp): $259,567
• List price: $214,900
• Delta: -17.21%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
317 Bennett St	0.05mi	4/2.5	1,785 (-2%)	1mo	$248,900	$139	94
325 Bennett St	0.02mi	4/2.5	1,785 (-2%)	3mo	$248,900	$139	94
302 Amy St	0.06mi	4/2.5	1,785 (-2%)	1mo	$259,900	$146	93
234 Bennett Loop	0.22mi	4/2.5	1,852 (+2%)	0mo	$255,000	$138	86
200 Bennett St	0.08mi	4/2.5	1,968 (+8%)	4mo	$231,000	$117	79
9 Colony Sq	0.26mi	4/2.0	1,941 (+7%)	4mo	$344,900	$178	71
9 Riverwood Circle Ct	0.10mi	4/2.0	1,583 (-13%)	3mo	$269,900	$170	70
1412 Buchta Rd	0.47mi	3/2.0 (-1)	1,920 (+6%)	0mo	$385,000	$201	61
712 Manor Dr	0.68mi	3/2.0 (-1)	1,664 (-8%)	1mo	$265,000	$159	47
1609 Elm Ct	0.65mi	4/3.0	2,012 (+11%)	3mo	$363,900	$181	46
1105 Isabella Blvd	0.70mi	3/2.0 (-1)	1,704 (-6%)	5mo	$263,900	$155	46
8 Gemstone Ct	0.72mi	4/2.0	2,005 (+11%)	3mo	$334,900	$167	44

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: -19.9%
• Equity multiple: 0.30×
• Total profit: $-41,869
• Equity at exit: $32,042

10-year hold

• IRR: -12.6%
• Equity multiple: 0.25×
• Total profit: $-44,981
• Equity at exit: $18,581

Cash invested: $60,172 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 89 active · 62 under contract
• Months of supply: 10.7 mo (9%/mo absorbed)
• Median asking: $269,990 ($151/sqft)
• Median days on market: 138 d
• This list price: 13% of active listings are priced below it
• ARV vs active asking: -5.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77515

• Home prices YoY: -5.1%
• Active inventory: 1376
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,080 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$424 /mo · $5,088/yr
• Insurance: −$90
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$50
• Vacancy / Maint / Mgmt: −$437
• Net cashflow: $-114

Break-even live

Break-even rent $2,224

Max offer price $194,806

Occupancy floor —

Sensitivity live

Price	-10% $8	-5% $-53	+0% $-114	+5% $-175	+10% $-235
Rent	-10% $-278	-5% $-196	+0% $-114	+5% $-32	+10% $51
Rate	-1.0pp $-6	-0.5pp $-59	base $-114	+0.5pp $-169	+1.0pp $-226

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: $53,725
• Closing costs: $6,447
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1 Riverwood Circle Ct Angleton, TX	4.0	2.0	1847	$1,995	$1.08	78d	1	0.14mi
1316 Hospital Dr Angleton, TX	3.0	2.0	1650	$1,669	$1.01	10d	1	0.19mi
513 Robin St Angleton, TX	4.0	2.0	1900	$2,495	$1.31	163d	1	0.24mi
128 Dallas St Angleton, TX	3.0	2.0	1390	$1,900	$1.37	184d	1	0.58mi
3 Dallas Ct #1 Angleton, TX	3.0	3.0	1550	$1,450	$0.94	184d	1	0.63mi
3167 Savannah Rose Dr Angleton, TX	4.0	2.5	1834	$1,950	$1.06	51d	1	0.81mi
8 Piney Way Angleton, TX	3.0	2.0	1402	$2,055	$1.47	77d	1	0.99mi
4 Stadium Dr Angleton, TX	1.0–3.0	1.0–2.0	1065	$1,810	$1.70	0d	10	1.01mi
711 Shady Ln Angleton, TX	3.0	2.0	1364	$1,750	$1.28	1d	1	1.14mi
431 N Tinsley St Angleton, TX	4.0	2.0	1593	$1,700	$1.07	29d	1	1.34mi
431 N Tinsley St Angleton, TX	4.0	2.0	1593	$1,700	$1.07	10d	1	1.34mi
2126 Mosaic Valley Ct Angleton, TX	4.0	2.0	1984	$2,300	$1.16	127d	1	1.41mi
3602 Atlas Point Ln Angleton, TX	4.0	3.0	1959	$2,500	$1.28	116d	1	1.44mi
3606 Atlas Point Ln Angleton, TX	3.0	2.0	1876	$2,175	$1.16	106d	1	1.45mi
3606 Atlas Point Ln Angleton, TX	3.0	2.0	1876	$2,175	$1.16	114d	1	1.45mi

Property features AI

Finance

• HOA & community: Annual association fee of $594

Exterior

• Parking: Attached garage2 garage spaces
• Utilities: Public waterPublic sewer
• Home design: Residential property
• Construction: Built in 2021Brick and cement sidingComposition roofSlab foundation

Interior

• Bedrooms: 4 bedrooms: 1 on the first floor and 3 on the second floor
• Bathrooms: 2 full bathrooms1 half bathroom
• Heating & cooling: Central electric heatingCentral air conditioning
• Interior features: Breakfast barKitchen and family room combo

Listing history 50 events

1. 2026-11-02
   days on market $214,900 Active 17 DOM
2. 2026-11-01
   days on market $214,900 Active 16 DOM
3. 2026-10-31
   days on market $214,900 Active 15 DOM
4. 2026-10-30
   days on market $214,900 Active 14 DOM
5. 2026-10-29
   days on market $214,900 Active 13 DOM
6. 2026-10-28
   days on market $214,900 Active 12 DOM
7. 2026-10-27
   days on market $214,900 Active 11 DOM
8. 2026-10-26
   days on market $214,900 Active 10 DOM
9. 2026-10-26
   pricedays on market $214,900 Active 9 DOM
10. 2026-10-24
    days on market $219,000 Active 8 DOM
11. 2026-10-23
    days on market $219,000 Active 7 DOM
12. 2026-10-22
    days on market $219,000 Active 6 DOM
13. 2026-10-21
    days on market $219,000 Active 5 DOM
14. 2026-10-20
    days on market $219,000 Active 4 DOM
15. 2026-10-19
    days on market $219,000 Active 3 DOM
16. 2026-10-18
    days on market $219,000 Active 2 DOM
17. 2026-10-17
    pricestatusdays on marketlisting id $219,000 Active 1 DOM
18. 2026-06-08
    statusdays on market $199,900 Pending 53 DOM
19. 2026-06-07
    days on market $199,900 Active Under Contract 52 DOM
20. 2026-06-04
    days on market $199,900 Active Under Contract 49 DOM
21. 2026-06-03
    days on market $199,900 Active Under Contract 48 DOM
22. 2026-06-02
    days on market $199,900 Active Under Contract 47 DOM
23. 2026-06-01
    days on market $199,900 Active Under Contract 46 DOM
24. 2026-05-31
    days on market $199,900 Active Under Contract 45 DOM
25. 2026-05-12
    historical Active Under Contract 874-char remark
26. 2026-05-03
    price $199,900 874-char remark
27. 2026-04-16
    listed $214,000 Active 874-char remark
28. 2026-04-10
    historical
29. 2026-01-08
    listed $279,900 Active
30. 2024-07-25
    soldstatus
31. 2024-07-19
    soldstatus Sold
32. 2024-06-16
    status Pending
33. 2024-06-08
    status Option Pending
34. 2024-05-29
    price $260,000
35. 2024-04-25
    price $270,000
36. 2024-03-29
    listed $275,000 Active
37. 2024-03-25
    historical $275,000
38. 2023-05-31
    historical
39. 2023-05-31
    historical
40. 2023-04-26
    listed $270,000 Active
41. 2023-04-26
    historical
42. 2022-04-25
    soldstatus Sold
43. 2022-03-28
    status Pending
44. 2022-03-25
    price $269,000
45. 2022-03-15
    price $267,000
46. 2022-03-08
    price $265,000
47. 2022-03-01
    price $262,000
48. 2022-02-25
    price $261,000
49. 2022-02-24
    price $260,990
50. 2022-02-14
    price $269,990

ⓘ 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: $5,088 · $424/mo
• Projected year-2 tax: $5,088 · $424/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 9/10 Extreme FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥111°F today · 25 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: $24,960
• − Mortgage interest: −$12,038
• − Property taxes: −$5,088
• − Insurance: −$1,872
• − Repairs & maintenance: −$1,997
• − Management: −$1,997
• − HOA: −$600
• − Depreciation: −$6,252
• Taxable loss: −$4,883
• Est. tax savings @ 24.0%: +$1,172
• After-tax cash flow: $-193/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 75/100 Cosmetic rehab Est. rehab $9,065–$27,195 screening

This 2021-built home in Riverwood Ranch, Angleton, TX, is in good condition with a well-maintained exterior and interior. It offers a good investment opportunity with potential for minor updates to enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior — Fresh paint can enhance curb appeal and property value. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract more potential buyers/tenants. ↑
• Both Interior touch-ups — Fresh paint and minor touch-ups can make the interior look more inviting and modern. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 39/100

Zoned Schools

Elementary Northside El D TX #865/4,322 Nat'l #12,785/41,679 Middle Angleton J H School F TX #911/1,662 Nat'l #7,937/14,009 High Angleton H S F TX #1,011/1,632 Nat'l #10,191/17,239

Schools (NCES district)

• District: Angleton ISD
• NCES district ID: 4808310
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 44% ▲ 1.00%
• Median HH income: $55,670
• Composite: 35.01/100
• National rank: #5046
• State rank: #375 of 826 in TX

B Composite livability gradescore 74/100

Livability — Angleton

• Score: 74/100
• State rank: #171
• US rank: #4520

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Angleton, TX
• County: Brazoria County · 420,414 people
• City population: 34,088
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 34,088
• Household income: $88,787
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 6% of renters

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Population outlook (Brazoria County) Hauer SSP2

• Today (2025): 420,414 people
• By 2030: 457,585 · +8.8%
• By 2040: 532,232 · +26.6%
• By 2050: 605,399 · +44.0%
• By 2075: 779,358 · +85.4%
• By 2100: 883,759 · +110.2%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 55% Hispanic / Latino 33% Two or more races 18% Black 8% Asian 2%
• Hispanic origin (detail): Mexican 28%
• Languages at home: 78% English-only · Spanish 20% Other Asian/Pacific 1%

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Political lean MEDSL · Brazoria

• 2024 margin: R (+19.7) · D 39.5% · R 59.2% · Other 1.3%
• 2008→2024 swing: +9.9pp toward D · 2008: -29.6pp · 2024: -19.7pp
• All cycles: 2024: R+19.7 2020: R+18.2 2016: R+24.6 2012: R+34.2 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -15.59%
• Current HPI: 288.7286
• Rent YoY: —
• Metro: Houston-The Woodlands-Sugar Land, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

Property features AI

Finance

• HOA & community: Annual association fee of $594

Exterior

• Parking: Attached garage2 garage spaces
• Utilities: Public waterPublic sewer
• Home design: Residential property
• Construction: Built in 2021Brick and cement sidingComposition roofSlab foundation

Interior

• Bedrooms: 4 bedrooms: 1 on the first floor and 3 on the second floor
• Bathrooms: 2 full bathrooms1 half bathroom
• Heating & cooling: Central electric heatingCentral air conditioning
• Interior features: Breakfast barKitchen and family room combo

Price history

-18.0% since first listed

34 events — show timeline

• 2026-10-16 Listed $219,000 HARMLS
• 2026-06-08 Listing Removed — HARMLS
• 2026-05-12 Contingent — HARMLS
• 2026-05-03 Price Changed $199,900 HARMLS
• 2026-04-16 Listed $214,000 HARMLS
• 2026-04-10 Listing Removed — HARMLS
• 2026-01-08 Listed $279,900 HARMLS
• 2024-07-25 Sold (Public Records) — Public Records
• 2024-07-19 Sold (MLS) — HARMLS
• 2024-06-16 Pending — HARMLS
• 2024-06-08 Pending — HARMLS
• 2024-05-29 Price Changed $260,000 HARMLS
• 2024-04-25 Price Changed $270,000 HARMLS
• 2024-03-29 Listed $275,000 HARMLS
• 2024-03-25 Coming Soon $275,000 HARMLS
• 2023-05-31 Rental Removed — HARMLS
• 2023-05-31 Listing Removed — HARMLS
• 2023-04-26 Listed $270,000 HARMLS
• 2022-04-25 Sold (MLS) — HARMLS
• 2022-03-28 Pending — HARMLS
• 2022-03-25 Price Changed $269,000 HARMLS
• 2022-03-15 Price Changed $267,000 HARMLS
• 2022-03-08 Price Changed $265,000 HARMLS
• 2022-03-01 Price Changed $262,000 HARMLS
• 2022-02-25 Price Changed $261,000 HARMLS
• 2022-02-24 Price Changed $260,990 HARMLS
• 2022-02-14 Price Changed $269,990 HARMLS
• 2022-02-09 Price Changed $268,990 HARMLS
• 2022-02-09 Relisted — HARMLS
• 2022-01-27 Pending — HARMLS
• 2022-01-24 Price Changed $250,000 HARMLS
• 2022-01-21 Price Changed $251,000 HARMLS
• 2022-01-14 Price Changed $250,000 HARMLS
• 2021-12-10 Listed $266,990 HARMLS

Property tax history

+5.7%/yr

Latest (2026): $5,088 · +1.2% YoY. Source: county tax records.