114 Edgewater St · Richwood, TX 77531

$199,900

3 bd · 2.0 ba · 1,579 sqft · SingleFamily public records · 69 Days on market

Built 1959 0.66 ac lot $127/sqft · 27% below area Est $272k · 27% under ↓ 10% 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).

• ARV discount +15.0/15.0
• Cash flow +9.7/30.0
• Appreciation +7.5/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• 1% rule +2.8/10.0
• DSCR +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

PUBLIC OPEN HOUSE SUNDAY 1-3PM! Come see this beautiful home at the edge of town, on a large lot. Outside the city limits (no city taxes), no HOA, no city bills. This 3/2/2 brick on slab is on well and septic, on a 0.6+ acre lot. Close to town, without the city expenses. Don’t miss this one, call now! Room dimensions are approximate. Buyer to verify.

Key facts

• Close to town
• Well and septic
• No city taxes

Tags

• LARGE LOT
• NO CITY TAXES
• NO HOA
• WELL AND SEPTIC
• CLOSE TO TOWN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-558 ($-7k/yr) — negative.
• To cash-flow at today's rent, offer at most $101k (49.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $156k (22.0% below list).
• Recommended offer: $101k (49.3% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 2.1% in Richwood — 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 76/100 on livability (#102 in TX, #3,430 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools C-, amenities F, commute 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: 115 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 3,960 units permitted in Brazoria County in 2024 (593 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($1k loan paydown + $10k appreciation (4.9% local appreciation)).
• Brazoria County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $29k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $101,340 (49.3% 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 69 days. Have you received any prior offers? Is the seller open to a 49% concession, seller financing, or rate buy-down credit?
3. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.78% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.82%
• DSCR: 0.87
• GRM: 10.7

CMA / ARV

• ARV (median comp): $272,163
• List price: $199,900
• Delta: -26.55%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
107 Brazos Ct	0.53mi	3/2.0	1,567 (-1%)	11mo	$289,900	$185	65
101 Brazos Ct	0.52mi	3/2.0	1,621 (+3%)	9mo	$299,000	$184	64
110 Austins Ct	0.57mi	3/2.0	1,752 (+11%)	13mo	$334,000	$191	45
168 County Road 605	0.75mi	4/2.0 (+1)	1,584 (+0%)	23mo	$135,000	$85	41

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

Projected returns pro-forma

4.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.8%
• Equity multiple: 1.18×
• Total profit: $10,013
• Equity at exit: $112,429

10-year hold

• IRR: 5.9%
• Equity multiple: 2.11×
• Total profit: $61,935
• Equity at exit: $193,337

Cash invested: $55,972 (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 77531

• Home prices YoY: 1.6%
• Active inventory: 115
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,558 medium
• Mortgage (P&I): −$1,048
• Tax from tax record: −$231 /mo · $2,770/yr
• Insurance: −$83
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$327
• Net cashflow: $-558

Break-even live

Break-even rent $2,265

Max offer price $101,340

Occupancy floor —

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
118 Tamarind St Lake Jackson, TX	3.0	2.0	1900	$2,200	$1.16	7d	1	1.13mi

Listing history 25 events

1. 2026-06-18
   days on market $199,900 Active 69 DOM
2. 2026-06-17
   days on market $199,900 Active 68 DOM
3. 2026-06-16
   days on market $199,900 Active 67 DOM
4. 2026-06-15
   days on market $199,900 Active 66 DOM
5. 2026-06-13
   days on market $199,900 Active 64 DOM
6. 2026-06-09
   days on market $199,900 Active 60 DOM
7. 2026-06-08
   days on market $199,900 Active 59 DOM
8. 2026-06-07
   pricedays on market $199,900 Active 58 DOM
9. 2026-06-04
   days on market $215,000 Active 55 DOM
10. 2026-06-03
    days on market $215,000 Active 54 DOM
11. 2026-06-02
    days on market $215,000 Active 53 DOM
12. 2026-06-01
    days on market $215,000 Active 52 DOM
13. 2026-05-31
    days on market $215,000 Active 51 DOM
14. 2026-05-16
    status Active 358-char remark

    Show marketing remark (358 chars)

    PUBLIC OPEN HOUSE SUNDAY 1-3PM! Come see this beautiful home at the edge of town, on a large lot. Outside the city limits (no city taxes), no HOA, no city bills. This 3/2/2 brick on slab is on well and septic, on a 0.6+ acre lot. Close to town, without the city expenses. Don’t miss this one, call now! Room dimensions are approximate. Buyer to verify.

15. 2026-05-15
    historical 358-char remark

    Show marketing remark (358 chars)

    PUBLIC OPEN HOUSE SUNDAY 1-3PM! Come see this beautiful home at the edge of town, on a large lot. Outside the city limits (no city taxes), no HOA, no city bills. This 3/2/2 brick on slab is on well and septic, on a 0.6+ acre lot. Close to town, without the city expenses. Don’t miss this one, call now! Room dimensions are approximate. Buyer to verify.

16. 2026-04-27
    price $215,000
17. 2026-04-24
    listed $229,000 Active
18. 2026-04-09
    listed $215,000 Active 358-char remark

    Show marketing remark (358 chars)

    PUBLIC OPEN HOUSE SUNDAY 1-3PM! Come see this beautiful home at the edge of town, on a large lot. Outside the city limits (no city taxes), no HOA, no city bills. This 3/2/2 brick on slab is on well and septic, on a 0.6+ acre lot. Close to town, without the city expenses. Don’t miss this one, call now! Room dimensions are approximate. Buyer to verify.

19. 2026-04-07
    historical
20. 2026-04-06
    price $219,900
21. 2026-01-10
    price $224,900
22. 2025-11-30
    price $229,900
23. 2025-11-25
    listed $239,000 Active
24. 2003-06-09
    soldstatus
25. 2002-05-20
    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: $2,770 · $231/mo
• Projected year-2 tax: $3,658 · $305/mo
• Expected delta: +$888/yr (+$74/mo · 32.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 76% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥112°F today · 26 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,700
• − Mortgage interest: −$11,198
• − Property taxes: −$2,770
• − Insurance: −$6,118
• − Repairs & maintenance: −$1,496
• − Management: −$1,496
• − Depreciation: −$5,815
• Taxable loss: −$10,193
• Est. tax savings @ 24.0%: +$2,446
• After-tax cash flow: $-4,249/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 — Richwood

• Score: 76/100
• State rank: #102
• US rank: #3430

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Brazoria County · 374,982 people
• City population: 16,260
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 16,406
• Household income: $73,240
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 424.0

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 0.60)
• Race & ethnicity: Hispanic / Latino 52% White 34% Two or more races 23% Black 10%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Iranian 1% Slovak 1% Romanian 1%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 67% English-only · Spanish 32% Other Indo-European 1%

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: ▲ 4.93%
• Current HPI: 307.8644
• 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

-10.0% since first listed

12 events — show timeline

• 2026-05-16 Relisted — HARMLS
• 2026-05-15 Listing Removed — HARMLS
• 2026-04-27 Price Changed $215,000 BCBR
• 2026-04-24 Listed $229,000 BCBR
• 2026-04-09 Listed $215,000 HARMLS
• 2026-04-07 Listing Removed — HARMLS
• 2026-04-06 Price Changed $219,900 HARMLS
• 2026-01-10 Price Changed $224,900 HARMLS
• 2025-11-30 Price Changed $229,900 HARMLS
• 2025-11-25 Listed $239,000 HARMLS
• 2003-06-09 Sold (Public Records) — Public Records
• 2002-05-20 Sold (Public Records) — Public Records

Property tax history

+2.9%/yr

Latest (2025): $2,770 · +7.6% YoY. Source: county tax records.