1302 Thomas Ave · Pasadena, TX 77506

$84,000

2 bd · 1.0 ba · 780 sqft · SingleFamily public records · 1 Days on market

Built 1944 7,374 sqft lot $108/sqft · 46% below area Est $155k · 46% under ↓ 13% since listing

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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 +22.5/30.0
• ARV discount +15.0/15.0
• 1% rule +7.5/10.0
• DSCR +7.2/10.0
• Livability +3.3/5.0
• Schools +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location. Great project.

Key facts

• 7,374 sq ft lot
• Built 1944

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $84k).
• Cap rate 8.3% vs local median 3.4% in Pasadena — 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 66/100 on livability (#600 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools D+, employment D+, crime F.
• Pasadena ISD (suburban): math 29% / reading 32% proficiency, ranked #612 of 826 in TX (top 74%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 104 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $581 of loan paydown is wiped out by about $3k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $14k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; built in 1944 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $84,000

Questions for the listing agent

1. Built in 1944 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 1.25% ✓
• Cap rate: 8.31%
• Cash-on-cash: 7.22%
• DSCR: 1.32
• GRM: 6.7

CMA / ARV

• ARV (median comp): $155,150
• List price: $84,000
• Delta: -45.21%
• 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
1305 Jackson Ave	0.41mi	2/1.0	764 (-2%)	2mo	$150,000	$196	76
1207 Glenn Ave	0.26mi	2/1.0	799 (+2%)	13mo	$185,000	$232	73
1511 Harrop Ave	0.36mi	2/1.5	786 (+1%)	11mo	$165,000	$210	70
1414 Polk Ave	0.24mi	2/1.0	762 (-2%)	18mo	$120,000	$157	69
1204 Glenn Ave	0.23mi	2/1.0	770 (-1%)	22mo	$179,990	$234	69
1313 Glenn Ave	0.30mi	2/1.0	800 (+3%)	20mo	$184,990	$231	65
1323 Richard Ave	0.36mi	2/1.0	853 (+9%)	7mo	$182,000	$213	62
508 Garrett St	0.18mi	2/1.0	843 (+8%)	20mo	$165,000	$196	62
1212 Bernard St	0.43mi	2/1.0	776 (-0%)	22mo	$59,000	$76	61
1215 Bernard St	0.47mi	2/1.0	800 (+3%)	21mo	$130,000	$163	56
1513 Thomas Ave	0.31mi	3/2.0 (+1)	861 (+10%)	6mo	$99,900	$116	54
810 Thomas Ave	0.45mi	1/0.5 (-1)	864 (+11%)	11mo	$119,990	$139	45

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-4,517
• Equity at exit: $12,525

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $8,004
• Equity at exit: $7,263

Cash invested: $23,520 (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 77506

• Home prices YoY: -15.5%
• Active inventory: 104
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,050 high
• Mortgage (P&I): −$441
• Tax from tax record: −$212 /mo · $2,548/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $142

Break-even live

Break-even rent $871

Max offer price $84,000

Occupancy floor 82%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1034 W Village Ct Unit C Pasadena, TX	2.0	1.0	730	$945	$1.29	44d	1	0.61mi
1744 Jenkins Rd Pasadena, TX	1.0–2.0	1.0–2.0	807	$1,365	$1.69	5d	1	0.70mi
1750 Jenkins Rd Pasadena, TX	2.0	2.0	926	$1,135	$1.23	44d	1	0.71mi
1125 Ann Pasadena, TX	1.0	1.0	645	$995	$1.54	44d	1	0.72mi
1129 Witter St Pasadena, TX	2.0	1.0	870	$1,075	$1.24	44d	1	0.73mi
910 Main St Pasadena, TX	1.0–2.0	1.0	712	$925	$1.30	44d	2	0.90mi
1413 George St Pasadena, TX	3.0	1.0	998	$1,695	$1.70	5d	1	0.94mi
1000 Curtis Ave Pasadena, TX	1.0–2.0	1.0–2.0	744	$1,274	$1.71	5d	14	0.96mi
1007 Houston Ave Pasadena, TX	1.0	1.0	539	$870	$1.61	44d	1	0.96mi
2401 Southmore Ave Pasadena, TX	1.0–3.0	1.0–2.0	835	$1,078	$1.29	3d	4	1.20mi
621 Richey St Unit 424 Pasadena, TX	2.0	2.0	770	$1,040	$1.35	5d	1	1.36mi
621 Richey St Unit 654 Pasadena, TX	3.0	2.0	1100	$1,332	$1.21	3d	1	1.36mi
407 S Richey St Unit 458 Pasadena, TX	1.0	1.0	700	$699	$1.00	13d	1	1.40mi
407 S Richey St Unit 2162 Pasadena, TX	2.0	2.0	800	$890	$1.11	5d	1	1.40mi
407 S Richey St Unit 440 Pasadena, TX	3.0	2.0	1100	$1,345	$1.22	13d	1	1.40mi
407 S Richey St Unit 481 Pasadena, TX	1.0	1.0	700	$745	$1.06	13d	1	1.40mi
407 S Richey St Unit 1162 Pasadena, TX	1.0	1.0	700	$710	$1.01	5d	1	1.40mi
407 S Richey St Unit 510 Pasadena, TX	3.0	2.0	1000	$1,032	$1.03	3d	1	1.40mi
407 S Richey St Unit 481 Pasadena, TX	1.0	1.0	700	$707	$1.01	3d	1	1.40mi
403 Garner Rd Pasadena, TX	2.0	1.5	910	$1,130	$1.24	44d	2	1.42mi
407 S Richey St Unit 3047 Pasadena, TX	3.0	2.0	1000	$1,075	$1.07	11d	1	1.43mi
407 S Richey St Unit 2047 Pasadena, TX	2.0	2.0	800	$882	$1.10	3d	1	1.43mi
407 Richey St Pasadena, TX	3.0	1.0–2.0	700	$908	$1.30	21d	13	1.43mi
727 S Richey St Pasadena, TX	3.0	2.0	1100	$1,275	$1.16	44d	1	1.45mi
2120 Strawberry Rd Pasadena, TX	1.0	1.0	600	$758	$1.26	44d	1	1.46mi

Listing history 10 events

1. 2026-06-18
   pricestatusdays on marketlisting id $84,000 Pending 1 DOM
2. 2026-05-31
   days on market $85,000 Active 167 DOM
3. 2026-04-06
   price $85,000 30-char remark

   Show marketing remark (30 chars)

   Great location. Great project.

4. 2026-03-20
   price $89,500 30-char remark

   Show marketing remark (30 chars)

   Great location. Great project.

5. 2026-02-19
   status Active 30-char remark

   Show marketing remark (30 chars)

   Great location. Great project.

6. 2026-02-15
   status Pending 30-char remark

   Show marketing remark (30 chars)

   Great location. Great project.

7. 2026-02-07
   status Pending 30-char remark

   Show marketing remark (30 chars)

   Great location. Great project.

8. 2026-01-08
   price $115,000 30-char remark

   Show marketing remark (30 chars)

   Great location. Great project.

9. 2025-12-11
   listed $98,000 Active 30-char remark

   Show marketing remark (30 chars)

   Great location. Great project.

10. 1996-06-06
    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: $2,548 · $212/mo
• Projected year-2 tax: $2,548 · $212/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 6/10 Major FEMA zone X (unshaded) · 73% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥109°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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,597
• − Mortgage interest: −$4,705
• − Property taxes: −$2,548
• − Insurance: −$420
• − Repairs & maintenance: −$1,008
• − Management: −$1,008
• − Depreciation: −$2,444
• Taxable income: $465
• Est. tax owed @ 24.0%: −$112
• After-tax cash flow: $1,586/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: Pasadena ISD
• NCES district ID: 4834320
• Math proficiency: 29% ▼ -17.00%
• Reading proficiency: 32% ▼ -9.00%
• Median HH income: $45,163
• Composite: 26.15/100
• National rank: #7275
• State rank: #612 of 826 in TX

Livability — Pasadena

• Score: 66/100
• State rank: #600
• US rank: #11438

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Pasadena, TX
• City population: 109,190
• Population (ZIP): 35,243

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 Hispanic (89%)
• Race & ethnicity: Hispanic / Latino 89% Two or more races 36% White 9% Black 1% Native American 1%
• Hispanic origin (detail): Mexican 77%
• Common ancestry: Italian 1%
• Foreign-born: 39% · Canada
• Languages at home: 30% English-only · Spanish 69%

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: ▼ -57.82%
• Current HPI: 315.9695
• 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

-13.3% since first listed

8 events — show timeline

• 2026-04-06 Price Changed $85,000 HARMLS
• 2026-03-20 Price Changed $89,500 HARMLS
• 2026-02-19 Relisted — HARMLS
• 2026-02-15 Pending — HARMLS
• 2026-02-07 Pending — HARMLS
• 2026-01-08 Price Changed $115,000 HARMLS
• 2025-12-11 Listed $98,000 HARMLS
• 1996-06-06 Sold (Public Records) — Public Records

Property tax history

+8.2%/yr

Latest (2025): $2,548 · -11.8% YoY. Source: county tax records.