110 Spencer St · Brazoria, TX 77422

$149,199

2 bd · 2.0 ba · 1,767 sqft · SingleFamily public records · 114 Days on market

Built 1938 0.45 ac lot $84/sqft · 22% below area Est $192k · 22% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Cash flow +9.4/30.0
• 1% rule +3.7/10.0
• Livability +3.1/5.0
• Schools +3.0/10.0
• DSCR +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

JUST LISTED this excellent home for first time buyers! This cute country styled home consists of two bedrooms and one bathroom and is located in Brazoria, TX. Walk into the lovely living room and enjoy all the natural lighting this home has to offer. Why rent when WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home. When you call us be sure and ask about other properties we may have for sale in the Brazoria Texas Area.

Key facts

• 0.45 acre lot
• Built 1938
• Listed 113 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $-106 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $130k (12.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (12.6% below list).
• Recommended offer: $130k (12.6% below list) — sets the bar for 1% rule.
• Cap rate 5.4% vs local median 3.2% in Brazoria — 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 61/100 on livability (#1,001 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools F, amenities F, commute F.
• Columbia-Brazoria ISD (town): math 35% / reading 33% proficiency, ranked #513 of 826 in TX (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 212 active listings in the ZIP; 3,960 units permitted in Brazoria County in 2024 (593 in 5+ unit buildings).

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $15k appreciation (10.0% local appreciation)).
• Brazoria County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 3, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $130,358 (12.6% 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. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
3. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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: 0.87% ✗
• Cap rate: 5.44%
• Cash-on-cash: -3.04%
• DSCR: 0.86
• GRM: 9.5

CMA / ARV

• ARV (median comp): $191,698
• List price: $149,199
• Delta: -22.17%
• 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
101 Chestnut St	0.10mi	3/2.0 (+1)	1,600 (-10%)	2mo	$269,900	$169	73
302 Gaines St	0.11mi	3/2.0 (+1)	1,600 (-10%)	2mo	$269,900	$169	72
906 N Market St	0.25mi	3/2.0 (+1)	1,728 (-2%)	24mo	$175,000	$101	60
501 Burnett St	0.22mi	3/1.0 (+1)	1,522 (-14%)	7mo	$129,900	$85	52
409 E Travis	0.43mi	3/2.0 (+1)	1,585 (-10%)	10mo	$269,900	$170	49
201 S Market St	0.55mi	3/2.0 (+1)	1,750 (-1%)	23mo	$115,000	$66	48
312 San Bernard St	0.43mi	3/2.0 (+1)	1,585 (-10%)	12mo	$229,500	$145	48
102 Oakdale Ct Unit 2105	0.50mi	2/2.0	2,000 (+13%)	14mo	$274,000	$137	43
549 E New York St	0.71mi	3/3.0 (+1)	1,924 (+9%)	3mo	$209,900	$109	40
113 Red Oak St	0.54mi	3/2.0 (+1)	1,526 (-14%)	9mo	$271,400	$178	40
406 Virginia St	0.73mi	3/2.0 (+1)	1,632 (-8%)	11mo	$289,900	$178	39
409 West Texas St	0.70mi	3/2.0 (+1)	1,969 (+11%)	12mo	$250,000	$127	33

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 22.1%
• Equity multiple: 2.79×
• Total profit: $74,600
• Equity at exit: $134,410

10-year hold

• IRR: 19.9%
• Equity multiple: 6.39×
• Total profit: $225,153
• Equity at exit: $289,861

Cash invested: $41,776 (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 77422

• Home prices YoY: 5.1%
• Active inventory: 212
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,304 medium
• Mortgage (P&I): −$782
• Tax from tax record: −$291 /mo · $3,493/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $-106

Break-even live

Break-even rent $1,438

Max offer price $130,499

Occupancy floor —

Sensitivity live

Price	-10% $-21	-5% $-64	+0% $-106	+5% $-148	+10% $-190
Rent	-10% $-209	-5% $-157	+0% $-106	+5% $-54	+10% $-3
Rate	-1.0pp $-31	-0.5pp $-68	base $-106	+0.5pp $-145	+1.0pp $-184

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: $37,300
• Closing costs: $4,476
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-21
   days on market $149,199 Active 114 DOM
2. 2026-06-18
   days on market $149,199 Active 111 DOM
3. 2026-06-17
   days on market $149,199 Active 110 DOM
4. 2026-06-16
   days on market $149,199 Active 109 DOM
5. 2026-06-15
   days on market $149,199 Active 108 DOM
6. 2026-06-13
   days on market $149,199 Active 106 DOM
7. 2026-06-13
   days on market $149,199 Active 105 DOM
8. 2026-06-09
   days on market $149,199 Active 102 DOM
9. 2026-06-08
   days on market $149,199 Active 101 DOM
10. 2026-06-07
    days on market $149,199 Active 100 DOM
11. 2026-06-04
    days on market $149,199 Active 97 DOM
12. 2026-06-03
    days on market $149,199 Active 96 DOM
13. 2026-06-02
    days on market $149,199 Active 95 DOM
14. 2026-06-01
    days on market $149,199 Active 94 DOM
15. 2026-05-31
    days on market $149,199 Active 93 DOM
16. 2026-03-10
    status Active 589-char remark

    Show marketing remark (589 chars)

    JUST LISTED this excellent home for first time buyers! This cute country styled home consists of two bedrooms and one bathroom and is located in Brazoria, TX. Walk into the lovely living room and enjoy all the natural lighting this home has to offer. Why rent when WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home. When you call us be sure and ask about other properties we may have for sale in the Brazoria Texas Area.

17. 2026-02-20
    status Pending 589-char remark

    Show marketing remark (589 chars)

    JUST LISTED this excellent home for first time buyers! This cute country styled home consists of two bedrooms and one bathroom and is located in Brazoria, TX. Walk into the lovely living room and enjoy all the natural lighting this home has to offer. Why rent when WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home. When you call us be sure and ask about other properties we may have for sale in the Brazoria Texas Area.

18. 2026-02-19
    price $149,199 589-char remark

    Show marketing remark (589 chars)

    JUST LISTED this excellent home for first time buyers! This cute country styled home consists of two bedrooms and one bathroom and is located in Brazoria, TX. Walk into the lovely living room and enjoy all the natural lighting this home has to offer. Why rent when WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home. When you call us be sure and ask about other properties we may have for sale in the Brazoria Texas Area.

19. 2026-02-09
    listed $154,199 Active 589-char remark

    Show marketing remark (589 chars)

    JUST LISTED this excellent home for first time buyers! This cute country styled home consists of two bedrooms and one bathroom and is located in Brazoria, TX. Walk into the lovely living room and enjoy all the natural lighting this home has to offer. Why rent when WE MAKE IT EASY TO OWN. This is a great opportunity! Don't wait, call us today to get information on the owner's easy terms and smooth process that may be able to put the deed in your name and make this your dream home. When you call us be sure and ask about other properties we may have for sale in the Brazoria Texas Area.

20. 2025-09-05
    historical
21. 2025-05-02
    price $159,199
22. 2024-10-17
    price $165,199
23. 2024-09-09
    price $155,199
24. 2024-09-05
    historical
25. 2024-09-05
    listed $159,999 Active
26. 2022-08-17
    price $164,999
27. 2020-07-10
    price $169,999
28. 2020-06-22
    price $174,999
29. 2020-02-18
    price $99,999
30. 2019-08-21
    price $94,999
31. 2019-08-20
    listed $89,999 Active
32. 1999-05-06
    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: $3,493 · $291/mo
• Projected year-2 tax: $3,493 · $291/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 3/10 Moderate
• 🌡 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 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,643
• − Mortgage interest: −$8,357
• − Property taxes: −$3,493
• − Insurance: −$746
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − Depreciation: −$4,340
• Taxable loss: −$3,797
• Est. tax savings @ 24.0%: +$911
• After-tax cash flow: $-359/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: Columbia-Brazoria ISD
• NCES district ID: 4814670
• Math proficiency: 35% ▼ -4.00%
• Reading proficiency: 33% ▼ -1.00%
• Median HH income: $57,256
• Composite: 30.23/100
• National rank: #6297
• State rank: #513 of 826 in TX

Livability — Brazoria

• Score: 61/100
• State rank: #1001
• US rank: #17755

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brazoria, TX
• Population (ZIP): 14,548

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: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 21% Two or more races 15% Black 10%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Lithuanian 3% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 86% English-only · Spanish 13%

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: ▲ 14.41%
• Current HPI: 296.0632
• 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

+65.8% since first listed

17 events — show timeline

• 2026-03-10 Relisted — HARMLS
• 2026-02-20 Pending — HARMLS
• 2026-02-19 Price Changed $149,199 HARMLS
• 2026-02-09 Listed $154,199 HARMLS
• 2025-09-05 Listing Removed — HARMLS
• 2025-05-02 Price Changed $159,199 HARMLS
• 2024-10-17 Price Changed $165,199 HARMLS
• 2024-09-09 Price Changed $155,199 HARMLS
• 2024-09-05 Listed $159,999 HARMLS
• 2024-09-05 Listing Removed — HARMLS
• 2022-08-17 Price Changed $164,999 HARMLS
• 2020-07-10 Price Changed $169,999 HARMLS
• 2020-06-22 Price Changed $174,999 HARMLS
• 2020-02-18 Price Changed $99,999 HARMLS
• 2019-08-21 Price Changed $94,999 HARMLS
• 2019-08-20 Listed $89,999 HARMLS
• 1999-05-06 Sold (Public Records) — Public Records

Property tax history

+4.4%/yr

Latest (2025): $3,493 · -9.0% YoY. Source: county tax records.