1844 Dolphin Dr · Seabrook, TX 77586

$145,000

3 bd · 2.0 ba · 1,700 sqft · SingleFamily public records · 7 Days on market

Built 1964 6,599 sqft lot $85/sqft · 34% below area Est $219k · 34% under

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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 +26.3/30.0
• ARV discount +15.0/15.0
• 1% rule +9.2/10.0
• DSCR +8.9/10.0
• Schools +4.6/10.0
• Rent growth +3.7/5.0
• Livability +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Prime investment property ready for a full rehab. This 1,700-square-foot three-bed, two-bath home sits in a desirable location, so bring your contractor and vision. The below-market asking price leaves plenty of room for renovation costs and a healthy profit on the back end, with strong comps in the area making this an ideal candidate for a flip, rental, or BRRRR strategy. Sold strictly as-is —get in before this one's gone! .

Key facts

• 6,599 sq ft lot
• 2 garage spots
• Built 1964

Property features AI

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Residential property; Single-story entry (first-floor living mentioned)
• Construction: Brick construction; Shingle and wood roof; Built in 1964; Slab foundation
• Exterior features: Located in a subdivision

Interior

• Bedrooms: Three bedrooms on the first floor (approx. 10 x 10; 11 x 10; 11 x 12)
• Bathrooms: Two full bathrooms
• Heating & cooling: Central gas heating; Central electric air conditioning
• Interior features: 3 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-50 ($-602/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (6.1% below list).
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $136k (6.1% below list) — sets the bar for cash-flow.
• Cap rate 9.4% vs local median 2.2% in Seabrook — 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 70/100 on livability (#359 in TX) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, cost of living B+; Watch: amenities F, commute F.
• Clear Creek ISD (suburban): math 48% / reading 54% proficiency, ranked #114 of 826 in TX (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Seabrook Int (math 53% / reading 57%, grade B-, #248 of 1,662 statewide, top 15%, 963 students, 30% FRL); Clear Falls H S (math 49% / reading 64%, grade C, #357 of 1,632 statewide, top 22%, 2,473 students, 0% FRL).
• Market conditions: Rents rising fast (+4.9%/yr); 326 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 29,883 units permitted in Harris County in 2024 (8,621 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.
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: property tax is 3.6% of price; flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); 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 $136,138 (6.1% 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. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.42% ✓
• Cap rate: 9.41%
• Cash-on-cash: 11.12%
• DSCR: 1.49
• GRM: 5.9

CMA / ARV

• ARV (median comp): $219,483
• List price: $145,000
• Delta: -33.94%
• 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
1833 El Mar Ln	0.04mi	3/2.0	1,679 (-1%)	8mo	$244,999	$146	89
2317 Nassau Dr	0.31mi	3/2.0	1,730 (+2%)	2mo	$235,000	$136	81
2109 Nassau Dr	0.16mi	3/2.0	1,639 (-4%)	11mo	$349,000	$213	77
1801 Bimini Way	0.19mi	4/2.0 (+1)	1,679 (-1%)	11mo	$210,000	$125	75
2300 Nassau Dr	0.28mi	4/2.0 (+1)	1,813 (+7%)	7mo	$310,000	$171	65
1940 Waterford Way	0.17mi	3/2.0	1,938 (+14%)	5mo	$319,900	$165	64
901 Hester St	0.49mi	3/2.0	1,595 (-6%)	7mo	$391,000	$245	61
1709 Capri Ln	0.25mi	4/2.0 (+1)	1,476 (-13%)	1mo	$224,900	$152	61
1705 Capri Ln	0.26mi	4/2.0 (+1)	1,503 (-12%)	11mo	$215,000	$143	55
2512 Sawyer Dr	0.69mi	3/2.5	1,620 (-5%)	8mo	$225,000	$139	52
2317 Lord Nelson Dr	0.35mi	4/2.0 (+1)	1,942 (+14%)	11mo	$334,900	$172	46
2447 Parker St	0.73mi	4/2.0 (+1)	1,932 (+14%)	10mo	$344,990	$179	30

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 · 4.86% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.45×
• Total profit: $-22,314
• Equity at exit: $21,620

10-year hold

• IRR: -1.6%
• Equity multiple: 0.88×
• Total profit: $-4,975
• Equity at exit: $12,537

Cash invested: $40,600 (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 77586

• Rents YoY: 4.9%
• Active inventory: 326
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $2,062 high
• Mortgage (P&I): −$760
• Tax from tax record: −$432 /mo · $5,181/yr
• Insurance: −$60
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $-50

Break-even live

Break-even rent $2,125

Max offer price $136,138

Occupancy floor 97%

Sensitivity live

Price	-10% $32	-5% $-9	+0% $-50	+5% $-91	+10% $-132
Rent	-10% $-213	-5% $-132	+0% $-50	+5% $31	+10% $113
Rate	-1.0pp $23	-0.5pp $-13	base $-50	+0.5pp $-88	+1.0pp $-126

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3300 Towers Blvd Seabrook, TX	1.0–4.0	1.0–4.0	1251	$2,371	$1.89	2d	49	0.77mi
2555 Repsdorph Rd Unit 2588 Seabrook, TX	3.0	2.0	1095	$1,775	$1.62	44d	1	0.91mi
2555 Repsdorph Rd Unit 3174 Seabrook, TX	3.0	2.0	1095	$1,775	$1.62	12d	1	0.91mi
2555 Repsdorph Rd Seabrook, TX	1.0–3.0	1.0–2.0	867	$1,966	$2.27	2d	26	0.93mi
714 Whitecap Dr El Lago, TX	4.0	2.5	2068	$2,650	$1.28	44d	1	0.94mi
2499 Repsdorph Rd Seabrook, TX	2.0	2.0	1083	$1,987	$1.83	44d	1	1.05mi
1815 Larrabee St Seabrook, TX	2.0	2.0	1239	$1,735	$1.40	44d	1	1.09mi
2401 Repsdorph Rd Seabrook, TX	1.0–2.0	1.0–2.0	842	$1,821	$2.16	2d	22	1.11mi
2727 E Nasa Pkwy Unit 2764 Seabrook, TX	2.0	2.0	1239	$1,914	$1.54	44d	1	1.14mi
2727 E Nasa Pkwy Unit 2764 Seabrook, TX	2.0	2.0	1239	$1,864	$1.50	11d	1	1.14mi
2727 E Nasa Pkwy Unit 424 Seabrook, TX	2.0	2.0	1239	$1,840	$1.49	6d	1	1.14mi
2727 E Nasa Pkwy Unit 422 Seabrook, TX	2.0	2.0	1239	$1,840	$1.49	8d	1	1.14mi
2727 E Nasa Pkwy Unit 2112 Seabrook, TX	2.0	2.0	1239	$1,832	$1.48	3d	1	1.14mi

Listing history 6 events

1. 2026-05-11
   status Pending 436-char remark
2. 2026-05-04
   listed $145,000 Active 436-char remark
3. 2025-10-31
   soldstatus
4. 2025-10-03
   soldstatus
5. 2025-09-30
   soldstatus
6. 1988-01-02
   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: $5,181 · $432/mo
• Projected year-2 tax: $5,181 · $432/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 AE · 99% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥108°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: $24,743
• − Mortgage interest: −$8,122
• − Property taxes: −$5,181
• − Insurance: −$5,844
• − Repairs & maintenance: −$1,979
• − Management: −$1,979
• − Depreciation: −$4,218
• Taxable loss: −$2,581
• Est. tax savings @ 24.0%: +$619
• After-tax cash flow: $17/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: Clear Creek ISD
• NCES district ID: 4814280
• Math proficiency: 48% ▼ -10.00%
• Reading proficiency: 54% ▼ -4.00%
• Median HH income: $80,240
• Composite: 46.49/100
• National rank: #2431
• State rank: #114 of 826 in TX

Livability — Seabrook

• Score: 70/100
• State rank: #359
• US rank: #7749

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Seabrook, TX
• County: Harris County · 4,702,590 people
• City population: 24,019
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 23,807
• Household income: $114,057
• Rent vs Own: 25.7% rent · 74.3% own
• Severe rent burden: 616.0

Population outlook (Harris County) Hauer SSP2

• Today (2025): 5,571,493 people
• By 2030: 6,089,821 · +9.3%
• By 2040: 7,142,806 · +28.2%
• By 2050: 8,185,864 · +46.9%
• By 2075: 10,574,329 · +89.8%
• By 2100: 12,109,958 · +117.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Hispanic / Latino 19% Two or more races 10% Asian 5% Black 3%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Lithuanian 5% Italian 4% Romanian 2%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 83% English-only · Spanish 12% Tagalog/Filipino 1% Other Asian/Pacific 1%

Political lean MEDSL · Harris

• 2024 margin: Lean D (+5.5) · D 52.0% · R 46.4% · Other 1.6%
• 2008→2024 swing: +3.9pp toward D · 2008: 1.6pp · 2024: 5.5pp
• All cycles: 2024: D+5.5 2020: D+13.3 2016: D+12.4 2012: D+0.1 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.37%
• Current HPI: 228.2611
• Rent YoY: ▲ 4.86%
• 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

6 events — show timeline

• 2026-05-11 Pending — HARMLS
• 2026-05-04 Listed $145,000 HARMLS
• 2025-10-31 Sold (Public Records) — Public Records
• 2025-10-03 Sold (Public Records) — Public Records
• 2025-09-30 Sold (Public Records) — Public Records
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+4.1%/yr

Latest (2025): $5,181 · +13.6% YoY. Source: county tax records.