500 Sea St · Pattison, TX 77423

$149,900

3 bd · 2.0 ba · 1,092 sqft · SingleFamily public records · 360 Days on market

Built 1983 0.31 ac lot $137/sqft · 64% below area

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Rent growth +2.2/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is an awesome property in Brookshire Texas just waiting for a new owner, this is a manufactured home that needs a little TLC but is in livable condition, this gives new owner the opportunity to apply those personal touches and make this a beautiful home, plenty room for vehicles and a back yard that is large enough for those weekend gatherings, you can also bring your chickens, dogs, or other pets as there are no pet or other restrictions, room measurements are approximate, the home is currently leased so DO NOT DISTURB TENANTS, call today to make your appointment to see this home today before it's too late.

Key facts

• No pet restrictions
• Manufactured home
• Large back yard

Tags

• MANUFACTURED HOME
• LARGE BACK YARD
• NO PET RESTRICTIONS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $619 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $132k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.2% vs local median 4.4% in Pattison — 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 63/100 on livability (#876 in TX) — a middle-class / working-renter tenant base. Strengths: housing A+, crime A, cost of living A; Watch: schools F, amenities F, commute F.
• Royal ISD (rural): math 23% / reading 23% proficiency, ranked #744 of 826 in TX (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-1.0%/yr); 997 active listings in the ZIP; solid renter incomes; 483 units permitted in Waller County in 2024 (89 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 $4k of value loss. Plan a longer hold.
• Waller County population projected at +62% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 360 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 360 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 1.30% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.69%
• DSCR: 1.79
• GRM: 6.4

CMA / ARV

• ARV (median comp): $412,054
• List price: $149,900
• Delta: -63.62%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 5.9%
• Equity multiple: 1.22×
• Total profit: $9,345
• Equity at exit: $22,351

10-year hold

• IRR: 12.6%
• Equity multiple: 1.87×
• Total profit: $36,583
• Equity at exit: $12,961

Cash invested: $41,972 (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 77423

• Rents YoY: -1.0%
• Active inventory: 997
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,954 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$77 /mo · $918/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$410
• Net cashflow: $619

Break-even live

Break-even rent $1,171

Max offer price $149,900

Occupancy floor 63%

Sensitivity live

Price	-10% $703	-5% $661	+0% $619	+5% $576	+10% $534
Rent	-10% $464	-5% $541	+0% $619	+5% $696	+10% $773
Rate	-1.0pp $694	-0.5pp $657	base $619	+0.5pp $580	+1.0pp $540

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-18
   days on market $149,900 Active 360 DOM
2. 2026-06-17
   days on market $149,900 Active 359 DOM
3. 2026-06-16
   days on market $149,900 Active 358 DOM
4. 2026-06-15
   days on market $149,900 Active 357 DOM
5. 2026-06-13
   days on market $149,900 Active 355 DOM
6. 2026-06-10
   days on market $149,900 Active 351 DOM
7. 2026-06-08
   days on market $149,900 Active 350 DOM
8. 2026-06-07
   days on market $149,900 Active 349 DOM
9. 2026-06-04
   days on market $149,900 Active 346 DOM
10. 2026-06-03
    days on market $149,900 Active 345 DOM
11. 2026-06-02
    days on market $149,900 Active 344 DOM
12. 2026-06-01
    days on market $149,900 Active 343 DOM
13. 2026-05-31
    days on market $149,900 Active 342 DOM
14. 2025-06-23
    listed $149,900 Active 620-char remark

    Show marketing remark (620 chars)

    This is an awesome property in Brookshire Texas just waiting for a new owner, this is a manufactured home that needs a little TLC but is in livable condition, this gives new owner the opportunity to apply those personal touches and make this a beautiful home, plenty room for vehicles and a back yard that is large enough for those weekend gatherings, you can also bring your chickens, dogs, or other pets as there are no pet or other restrictions, room measurements are approximate, the home is currently leased so DO NOT DISTURB TENANTS, call today to make your appointment to see this home today before it's too late.

15. 2025-06-20
    historical
16. 2024-12-24
    price $169,900
17. 2024-09-23
    listed $179,000 Active
18. 2024-06-12
    historical $1,200
19. 2024-04-24
    listed $1,200
20. 2011-07-18
    soldstatus
21. 2011-06-30
    historical
22. 2010-12-12
    listed $25,000
23. 2006-02-24
    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: $918 · $77/mo
• Projected year-2 tax: $2,743 · $229/mo
• Expected delta: +$1,825/yr (+$152/mo · 198.7%)

ⓘ 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 8/10 Severe 7 d/yr ≥111°F today · 22 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: $23,448
• − Mortgage interest: −$8,397
• − Property taxes: −$918
• − Insurance: −$750
• − Repairs & maintenance: −$1,876
• − Management: −$1,876
• − Depreciation: −$4,361
• Taxable income: $5,271
• Est. tax owed @ 24.0%: −$1,265
• After-tax cash flow: $6,158/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: Royal ISD
• NCES district ID: 4838190
• Math proficiency: 23% ▼ -11.00%
• Reading proficiency: 23% ▼ -6.00%
• Median HH income: $41,059
• Composite: 19.55/100
• National rank: #8760
• State rank: #744 of 826 in TX

Livability — Pattison

• Score: 63/100
• State rank: #876
• US rank: #15789

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Waller County · 18,767 people
• City population: 18,767
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 18,767
• Household income: $84,490
• Rent vs Own: 20.6% rent · 79.4% own
• Severe rent burden: 20.0

Population outlook (Waller County) Hauer SSP2

• Today (2025): 60,772 people
• By 2030: 67,616 · +11.3%
• By 2040: 82,283 · +35.4%
• By 2050: 98,276 · +61.7%
• By 2075: 142,860 · +135.1%
• By 2100: 175,596 · +188.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: Hispanic / Latino 41% White 41% Black 14% Two or more races 13% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 30% Cuban 2%
• Common ancestry: Lithuanian 2% Italian 2% Slovak 1%
• Foreign-born: 17% · Canada, China, Dominican Republic
• Languages at home: 65% English-only · Spanish 32% French/Haitian/Cajun 1% Other Indo-European 1%

Political lean MEDSL · Waller

• 2024 margin: Strong R (+25.0) · D 37.0% · R 62.0% · Other 1.0%
• 2008→2024 swing: -17.9pp toward R · 2008: -7.2pp · 2024: -25.0pp
• All cycles: 2024: R+25.0 2020: R+26.7 2016: R+28.6 2012: R+17.6 2008: R+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.28%
• Current HPI: 204.8709
• Rent YoY: ▼ -1.01%
• 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

+499.6% since first listed

10 events — show timeline

• 2025-06-23 Listed $149,900 HARMLS
• 2025-06-20 Listing Removed — HARMLS
• 2024-12-24 Price Changed $169,900 HARMLS
• 2024-09-23 Listed $179,000 HARMLS
• 2024-06-12 Rental Removed $1,200 HARMLS
• 2024-04-24 Listed for Rent $1,200 HARMLS
• 2011-07-18 Sold (MLS) — HARMLS
• 2011-06-30 Listing Removed — HARMLS
• 2010-12-12 Listed $25,000 HARMLS
• 2006-02-24 Sold (Public Records) — Public Records

Property tax history

+2.4%/yr

Latest (2025): $918 · +21.4% YoY. Source: county tax records.