184 Kelly St · Angleton, TX 77515

$199,900

4 bd · 2.5 ba · 1,813 sqft · SingleFamily public records · 53 Days on market

Built 2021 Good condition 6,878 sqft lot $110/sqft · 22% below area Est $258k · 22% under $50/mo HOA · 2% of rent ↓ 25% since listing

---

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 +17.1/30.0
• ARV discount +15.0/15.0
• 1% rule +6.0/10.0
• DSCR +5.3/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Schools +3.5/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to Riverwood Ranch in Angleton, where modern comfort meets thoughtful design in this beautifully maintained 2021-built home. Offering 4 bedrooms and 2.5 bathrooms across 1,813 square feet, this residence features a desirable downstairs primary suite, providing privacy and convenience. The open-concept layout creates a natural flow between the living, dining, and kitchen areas, making it ideal for both everyday living and entertaining. The home sits on a 6,878 sq ft lot with a functional backyard space ready for personalization. This property presents a unique chance for buyers seeking value in a newer construction home within a growing community. Conveniently located near local schools, shopping, and commuter routes, this home combines location, layout, and potential. Don’t miss the opportunity to secure a like-new home in Riverwood Ranch.

Key facts

• Conveniently located
• Open-concept layout
• 6,878 sq ft lot

Tags

• DOWNSTAIRS PRIMARY SUITE
• OPEN-CONCEPT LAYOUT
• FUNCTIONAL BACKYARD SPACE
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $200k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $138 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% vs local median 4.0% 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: schools D, 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.
• Market conditions: 921 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 53 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $14k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 1.10% ✓
• Cap rate: 7.12%
• Cash-on-cash: 2.96%
• DSCR: 1.13
• GRM: 7.6

CMA / ARV

• ARV (median comp): $257,673
• List price: $199,900
• Delta: -22.42%
• 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
423 Robin St	0.28mi	4/2.0	1,900 (+5%)	2mo	$311,990	$164	76
513 Robin St	0.28mi	4/2.0	1,900 (+5%)	2mo	$309,990	$163	75
729 Newman St	0.61mi	3/2.0 (-1)	1,840 (+2%)	1mo	$269,000	$146	61
2837 Rimfire Dr	0.67mi	4/2.0	1,868 (+3%)	1mo	$239,900	$128	61
425 Robin St	0.29mi	4/2.0	2,060 (+14%)	2mo	$332,990	$162	60
1506 Gentle Wind Ct	0.70mi	4/2.0	1,670 (-8%)	1mo	$275,990	$165	52
1105 Isabella Blvd	0.69mi	3/2.0 (-1)	1,704 (-6%)	0mo	$263,900	$155	51
2935 Summer Breeze Way	0.70mi	4/2.0	1,670 (-8%)	2mo	$275,990	$165	51
37 N Erik Dr	0.42mi	3/2.0 (-1)	2,050 (+13%)	1mo	$324,900	$158	50
808 Manor Dr	0.57mi	3/2.0 (-1)	1,603 (-12%)	1mo	$249,500	$156	46
2931 Summer Breeze Way	0.69mi	4/2.5	2,066 (+14%)	2mo	$292,990	$142	43
2943 Summer Breeze Way	0.71mi	4/2.5	2,066 (+14%)	2mo	$292,990	$142	42

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: -11.5%
• Equity multiple: 0.58×
• Total profit: $-23,430
• Equity at exit: $29,806

10-year hold

• IRR: -2.2%
• Equity multiple: 0.85×
• Total profit: $-8,395
• Equity at exit: $17,284

Cash invested: $55,972 (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 77515

• Home prices YoY: -5.1%
• Active inventory: 921
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,201 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$419 /mo · $5,029/yr
• Insurance: −$83
• HOA: −$50
• Vacancy / Maint / Mgmt: −$462
• Net cashflow: $138

Break-even live

Break-even rent $2,026

Max offer price $199,900

Occupancy floor 89%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
513 Robin St Angleton, TX	4.0	2.0	1900	$2,495	$1.31	21d	1	0.30mi
128 Dallas St Angleton, TX	3.0	2.0	1390	$1,900	$1.37	43d	1	0.62mi
3 Dallas Ct #1 Angleton, TX	3.0	3.0	1550	$1,450	$0.94	43d	1	0.68mi
152 Bastrop St Angleton, TX	3.0	2.0	1639	$1,745	$1.06	43d	1	0.77mi
3606 Atlas Point Ln Angleton, TX	3.0	2.0	1876	$2,250	$1.20	1d	1	1.49mi

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 40 events

1. 2026-06-08
   statusdays on market $199,900 Pending 53 DOM
2. 2026-06-07
   days on market $199,900 Active Under Contract 52 DOM
3. 2026-06-04
   days on market $199,900 Active Under Contract 49 DOM
4. 2026-06-03
   days on market $199,900 Active Under Contract 48 DOM
5. 2026-06-02
   days on market $199,900 Active Under Contract 47 DOM
6. 2026-06-01
   days on market $199,900 Active Under Contract 46 DOM
7. 2026-05-31
   days on market $199,900 Active Under Contract 45 DOM
8. 2026-05-12
   historical Active Under Contract 874-char remark

   Show marketing remark (874 chars)

   Welcome to Riverwood Ranch in Angleton, where modern comfort meets thoughtful design in this beautifully maintained 2021-built home. Offering 4 bedrooms and 2.5 bathrooms across 1,813 square feet, this residence features a desirable downstairs primary suite, providing privacy and convenience. The open-concept layout creates a natural flow between the living, dining, and kitchen areas, making it ideal for both everyday living and entertaining. The home sits on a 6,878 sq ft lot with a functional backyard space ready for personalization. This property presents a unique chance for buyers seeking value in a newer construction home within a growing community. Conveniently located near local schools, shopping, and commuter routes, this home combines location, layout, and potential. Don’t miss the opportunity to secure a like-new home in Riverwood Ranch.

9. 2026-05-03
   price $199,900 874-char remark

   Show marketing remark (874 chars)

   Welcome to Riverwood Ranch in Angleton, where modern comfort meets thoughtful design in this beautifully maintained 2021-built home. Offering 4 bedrooms and 2.5 bathrooms across 1,813 square feet, this residence features a desirable downstairs primary suite, providing privacy and convenience. The open-concept layout creates a natural flow between the living, dining, and kitchen areas, making it ideal for both everyday living and entertaining. The home sits on a 6,878 sq ft lot with a functional backyard space ready for personalization. This property presents a unique chance for buyers seeking value in a newer construction home within a growing community. Conveniently located near local schools, shopping, and commuter routes, this home combines location, layout, and potential. Don’t miss the opportunity to secure a like-new home in Riverwood Ranch.

10. 2026-04-16
    listed $214,000 Active 874-char remark

    Show marketing remark (874 chars)

    Welcome to Riverwood Ranch in Angleton, where modern comfort meets thoughtful design in this beautifully maintained 2021-built home. Offering 4 bedrooms and 2.5 bathrooms across 1,813 square feet, this residence features a desirable downstairs primary suite, providing privacy and convenience. The open-concept layout creates a natural flow between the living, dining, and kitchen areas, making it ideal for both everyday living and entertaining. The home sits on a 6,878 sq ft lot with a functional backyard space ready for personalization. This property presents a unique chance for buyers seeking value in a newer construction home within a growing community. Conveniently located near local schools, shopping, and commuter routes, this home combines location, layout, and potential. Don’t miss the opportunity to secure a like-new home in Riverwood Ranch.

11. 2026-04-10
    historical
12. 2026-01-08
    listed $279,900 Active
13. 2024-07-25
    soldstatus
14. 2024-07-19
    soldstatus Sold
15. 2024-06-16
    status Pending
16. 2024-06-08
    status Option Pending
17. 2024-05-29
    price $260,000
18. 2024-04-25
    price $270,000
19. 2024-03-29
    listed $275,000 Active
20. 2024-03-25
    historical $275,000
21. 2023-05-31
    historical
22. 2023-05-31
    historical
23. 2023-04-26
    listed $270,000 Active
24. 2023-04-26
    historical
25. 2022-04-25
    soldstatus Sold
26. 2022-03-28
    status Pending
27. 2022-03-25
    price $269,000
28. 2022-03-15
    price $267,000
29. 2022-03-08
    price $265,000
30. 2022-03-01
    price $262,000
31. 2022-02-25
    price $261,000
32. 2022-02-24
    price $260,990
33. 2022-02-14
    price $269,990
34. 2022-02-09
    price $268,990
35. 2022-02-09
    status Active
36. 2022-01-27
    status Pending
37. 2022-01-24
    price $250,000
38. 2022-01-21
    price $251,000
39. 2022-01-14
    price $250,000
40. 2021-12-10
    listed $266,990 Active

ⓘ 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: $5,029 · $419/mo
• Projected year-2 tax: $5,029 · $419/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 5/10 Major
• 🌡 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: $26,411
• − Mortgage interest: −$11,198
• − Property taxes: −$5,029
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,113
• − Management: −$2,113
• − HOA: −$600
• − Depreciation: −$5,815
• Taxable loss: −$1,456
• Est. tax savings @ 24.0%: +$349
• After-tax cash flow: $2,006/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

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.

Renovation cost estimate screening

Value-add ROI direction

• 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. ↑

ⓘ 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: 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

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 · 374,982 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: 785.0

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%

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%
• Common ancestry: Lithuanian 3% Romanian 2% Slovak 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 78% English-only · Spanish 20% Other Asian/Pacific 1%

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

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

-25.1% since first listed

33 events — show timeline

• 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
• 2023-04-26 Coming Soon — 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

+7.3%/yr

Latest (2025): $5,029 · +0.5% YoY. Source: county tax records.