1509 N Avenue S · Freeport, TX 77541

$64,900

2 bd · 1.0 ba · 1,705 sqft · SingleFamily public records · 174 Days on market

Built 1940 0.29 ac lot $38/sqft · 67% below area ↓ 23% since listing

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.7/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

1509 N Avenue S presents a rare opportunity for buyers seeking value, flexibility, and long-term upside. Situated on a generously sized lot, this property offers a solid footprint and the chance to reimagine the space to suit your vision. The home features a functional layout with ample natural light and well-proportioned rooms, providing a strong foundation for customization and improvement. Whether you’re looking to create a personalized residence or enhance the property’s potential, this home offers the freedom to update and modernize at your own pace. With no HOA and convenient access to nearby amenities, major roads, and local destinations, the location adds to its appeal. An excellent option for those who recognize opportunity and value the ability to shape a property into something truly special.

Key facts

• Ample natural light
• Generously sized lot
• Convenient access

Tags

• GENEROUSLY SIZED LOT
• FUNCTIONAL LAYOUT
• AMPLE NATURAL LIGHT
• WELL-PROPORTIONED ROOMS
• NO HOA
• CONVENIENT ACCESS

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $521 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.2% vs local median 3.8% in Freeport — 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 58/100 on livability (#1,205 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+; Watch: crime D, schools F, amenities F.
• Brazosport ISD (suburban): math 43% / reading 41% proficiency, ranked #305 of 826 in TX (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 590 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $449 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 174 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $57,112 (12.0% below list)

Questions for the listing agent

1. It's been on market 174 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. Crime grade is D 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?
8. 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.
9. 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.
10. 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: 2.02% ✓
• Cap rate: 17.16%
• Cash-on-cash: 38.82%
• DSCR: 2.73
• GRM: 4.1

CMA / ARV

• ARV (median comp): $194,787
• List price: $64,900
• Delta: -66.68%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1410 N Avenue S	0.08mi	3/2.0 (+1)	1,740 (+2%)	21mo	$220,000	$126	67
1206 N Avenue L	0.47mi	3/2.0 (+1)	1,878 (+10%)	1mo	$230,000	$122	51

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: 29.9%
• Equity multiple: 2.25×
• Total profit: $22,750
• Equity at exit: $9,677

10-year hold

• IRR: 37.2%
• Equity multiple: 4.46×
• Total profit: $62,815
• Equity at exit: $5,611

Cash invested: $18,172 (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 →

ZIP-level market 77541

• Home prices YoY: -29.3%
• Active inventory: 590
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,312 medium
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $521

Break-even live

Break-even rent $652

Max offer price $64,900

Occupancy floor 55%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1410 North Avenue R Unit R Freeport, TX	3.0	2.0	1395	$1,277	$0.92	44d	1	0.08mi
1708 North Avenue R Unit R Freeport, TX	3.0	2.0	1300	$1,225	$0.94	44d	1	0.13mi
905 N Avenue J Freeport, TX	3.0	2.0	1161	$871	$0.75	44d	1	0.71mi

Listing history 19 events

1. 2026-06-18
   days on market $64,900 Active 174 DOM
2. 2026-06-17
   days on market $64,900 Active 173 DOM
3. 2026-06-16
   days on market $64,900 Active 172 DOM
4. 2026-06-15
   days on market $64,900 Active 171 DOM
5. 2026-06-13
   days on market $64,900 Active 169 DOM
6. 2026-06-10
   price $64,900 Active 165 DOM
7. 2026-06-09
   days on market $76,500 Active 165 DOM
8. 2026-06-08
   days on market $76,500 Active 164 DOM
9. 2026-06-07
   days on market $76,500 Active 163 DOM
10. 2026-06-04
    days on market $76,500 Active 160 DOM
11. 2026-06-03
    days on market $76,500 Active 159 DOM
12. 2026-06-02
    days on market $76,500 Active 158 DOM
13. 2026-06-01
    days on market $76,500 Active 157 DOM
14. 2026-05-31
    days on market $76,500 Active 156 DOM
15. 2026-05-10
    price $76,500 832-char remark

    Show marketing remark (832 chars)

    1509 N Avenue S presents a rare opportunity for buyers seeking value, flexibility, and long-term upside. Situated on a generously sized lot, this property offers a solid footprint and the chance to reimagine the space to suit your vision. The home features a functional layout with ample natural light and well-proportioned rooms, providing a strong foundation for customization and improvement. Whether you’re looking to create a personalized residence or enhance the property’s potential, this home offers the freedom to update and modernize at your own pace. With no HOA and convenient access to nearby amenities, major roads, and local destinations, the location adds to its appeal. An excellent option for those who recognize opportunity and value the ability to shape a property into something truly special.

16. 2026-04-02
    price $79,900 832-char remark

    Show marketing remark (832 chars)

    1509 N Avenue S presents a rare opportunity for buyers seeking value, flexibility, and long-term upside. Situated on a generously sized lot, this property offers a solid footprint and the chance to reimagine the space to suit your vision. The home features a functional layout with ample natural light and well-proportioned rooms, providing a strong foundation for customization and improvement. Whether you’re looking to create a personalized residence or enhance the property’s potential, this home offers the freedom to update and modernize at your own pace. With no HOA and convenient access to nearby amenities, major roads, and local destinations, the location adds to its appeal. An excellent option for those who recognize opportunity and value the ability to shape a property into something truly special.

17. 2026-02-27
    price $84,900 832-char remark

    Show marketing remark (832 chars)

    1509 N Avenue S presents a rare opportunity for buyers seeking value, flexibility, and long-term upside. Situated on a generously sized lot, this property offers a solid footprint and the chance to reimagine the space to suit your vision. The home features a functional layout with ample natural light and well-proportioned rooms, providing a strong foundation for customization and improvement. Whether you’re looking to create a personalized residence or enhance the property’s potential, this home offers the freedom to update and modernize at your own pace. With no HOA and convenient access to nearby amenities, major roads, and local destinations, the location adds to its appeal. An excellent option for those who recognize opportunity and value the ability to shape a property into something truly special.

18. 2026-01-17
    price $89,900 832-char remark

    Show marketing remark (832 chars)

    1509 N Avenue S presents a rare opportunity for buyers seeking value, flexibility, and long-term upside. Situated on a generously sized lot, this property offers a solid footprint and the chance to reimagine the space to suit your vision. The home features a functional layout with ample natural light and well-proportioned rooms, providing a strong foundation for customization and improvement. Whether you’re looking to create a personalized residence or enhance the property’s potential, this home offers the freedom to update and modernize at your own pace. With no HOA and convenient access to nearby amenities, major roads, and local destinations, the location adds to its appeal. An excellent option for those who recognize opportunity and value the ability to shape a property into something truly special.

19. 2025-12-26
    listed $99,900 Active 832-char remark

    Show marketing remark (832 chars)

    1509 N Avenue S presents a rare opportunity for buyers seeking value, flexibility, and long-term upside. Situated on a generously sized lot, this property offers a solid footprint and the chance to reimagine the space to suit your vision. The home features a functional layout with ample natural light and well-proportioned rooms, providing a strong foundation for customization and improvement. Whether you’re looking to create a personalized residence or enhance the property’s potential, this home offers the freedom to update and modernize at your own pace. With no HOA and convenient access to nearby amenities, major roads, and local destinations, the location adds to its appeal. An excellent option for those who recognize opportunity and value the ability to shape a property into something truly special.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 60% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥113°F today · 26 d/yr by 30 yrs out
• 💨 Wind 10/10 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: $15,742
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$1,122
• − Repairs & maintenance: −$1,259
• − Management: −$1,259
• − Depreciation: −$1,888
• Taxable income: $5,604
• Est. tax owed @ 24.0%: −$1,345
• After-tax cash flow: $4,911/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: Brazosport ISD
• NCES district ID: 4811190
• Math proficiency: 43% ▼ -6.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $57,024
• Composite: 36.84/100
• National rank: #4557
• State rank: #305 of 826 in TX

Livability — Freeport

• Score: 58/100
• State rank: #1205
• US rank: #21044

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Freeport, TX
• County: Brazoria County · 374,982 people
• City population: 16,996
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 16,996
• Household income: $66,507
• Rent vs Own: 30.8% rent · 69.2% own
• Severe rent burden: 354.0

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 0.62)
• Race & ethnicity: Hispanic / Latino 47% White 38% Two or more races 23% Black 12%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Romanian 1% Italian 1% Lithuanian 1%
• Foreign-born: 12% · Canada
• Languages at home: 71% English-only · Spanish 29%

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: ▼ -110.12%
• Current HPI: 265.9301
• 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

-23.4% since first listed

5 events — show timeline

• 2026-05-10 Price Changed $76,500 HARMLS
• 2026-04-02 Price Changed $79,900 HARMLS
• 2026-02-27 Price Changed $84,900 HARMLS
• 2026-01-17 Price Changed $89,900 HARMLS
• 2025-12-26 Listed $99,900 HARMLS

Property tax history

+6.2%/yr

Latest (2025): $3,383 · +20.2% YoY. Source: county tax records.