4028 Avenue N 1/2 · Santa Fe, TX 77510

$195,000

3 bd · 2.0 ba · 1,024 sqft · SingleFamily public records · 8 Days on market

Built 1925 8,999 sqft lot $190/sqft · 9% below area Est $215k · 9% under

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Why this score? — see what drove the D+ 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 +15.0/30.0
• ARV discount +11.7/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +3.5/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home features a comfortable layout with a spacious living area that flows into the kitchen and dining space, creating a practical setup for everyday living. The kitchen offers ample cabinet and counter space for cooking and storage. The bedrooms provide flexibility for a variety of needs, whether for sleeping, a home office, or additional living space. Conveniently located near local amenities and major roadways, the property offers easy access to everyday essentials.

Key facts

• Spacious living area
• Covered patio
• Ample cabinet space

Tags

• FUNCTIONAL LAYOUT
• SPACIOUS LIVING AREA
• AMPLE CABINET SPACE
• COVERED PATIO
• ATTACHED STORAGE AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $52k ($627k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($68k rent vs $195k).
• Cap rate 327.9% vs local median 4.5% in Santa Fe — 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 67/100 on livability (#550 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Santa Fe ISD (suburban): math 38% / reading 39% proficiency, ranked #385 of 826 in TX (top 47%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 233 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 3,258 units permitted in Galveston County in 2024 (0 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 $6k of value loss. Plan a longer hold.
• Galveston County population projected at +43% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $55k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: 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 $195,000

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
4. 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.
5. 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.
6. 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: 34.83% ✓
• Cap rate: 327.88%
• Cash-on-cash: 1148.52%
• DSCR: 52.10
• GRM: 0.2

CMA / ARV

• ARV (median comp): $215,000
• List price: $195,000
• Delta: -2.33%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12732 7th St	0.13mi	2/1.5 (-1)	940 (-8%)	7mo	$124,900	$133	68
12235 6th St	0.44mi	2/1.0 (-1)	876 (-14%)	6mo	$195,000	$223	41
4150 Avenue Q 1/2	0.57mi	2/1.0 (-1)	934 (-9%)	16mo	$129,999	$139	36

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: —
• Equity multiple: 61.40×
• Total profit: $3,297,768
• Equity at exit: $29,075

10-year hold

• IRR: —
• Equity multiple: 132.17×
• Total profit: $7,161,648
• Equity at exit: $16,860

Cash invested: $54,600 (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 77510

• Home prices YoY: -15.3%
• Active inventory: 233
• Price-to-rent: 0.2×

Monthly cashflow live

• Estimated rent: $67,911 medium
• Mortgage (P&I): −$1,023
• Tax from tax record: −$288 /mo · $3,461/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$14,261
• Net cashflow: $52,258

Break-even live

Break-even rent $1,762

Max offer price $195,000

Occupancy floor 18%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4120 Avenue O #10 Santa Fe, TX	3.0	2.0	1280	$74,621	$58.30	43d	1	0.13mi
11844 13th St Santa Fe, TX	3.0	2.0	1472	$1,750	$1.19	22d	1	1.12mi

Listing history 29 events

1. 2026-06-18
   days on market $195,000 Active 8 DOM
2. 2026-06-17
   days on market $195,000 Active 7 DOM
3. 2026-06-16
   days on market $195,000 Active 6 DOM
4. 2026-06-15
   days on market $195,000 Active 5 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   pricedays on marketlisting id $195,000 Active 3 DOM
7. 2026-06-09
   days on market $210,000 Active 95 DOM
8. 2026-06-08
   days on market $210,000 Active 94 DOM
9. 2026-06-07
   days on market $210,000 Active 93 DOM
10. 2026-06-04
    days on market $210,000 Active 90 DOM
11. 2026-06-03
    days on market $210,000 Active 89 DOM
12. 2026-06-02
    days on market $210,000 Active 88 DOM
13. 2026-06-01
    days on market $210,000 Active 87 DOM
14. 2026-05-31
    days on market $210,000 Active 86 DOM
15. 2026-03-06
    listed $210,000 Active 477-char remark

    Show marketing remark (477 chars)

    This home features a comfortable layout with a spacious living area that flows into the kitchen and dining space, creating a practical setup for everyday living. The kitchen offers ample cabinet and counter space for cooking and storage. The bedrooms provide flexibility for a variety of needs, whether for sleeping, a home office, or additional living space. Conveniently located near local amenities and major roadways, the property offers easy access to everyday essentials.

16. 2025-12-31
    historical
17. 2025-09-03
    price $210,000
18. 2025-07-04
    listed $220,000 Active
19. 2025-06-30
    historical
20. 2025-04-04
    price $224,000
21. 2025-02-10
    listed $234,000 Active
22. 2025-02-10
    historical
23. 2024-12-28
    listed $249,000 Active
24. 2024-12-26
    historical
25. 2012-12-11
    soldstatus
26. 2012-12-11
    soldstatus
27. 2012-09-03
    historical
28. 2012-06-15
    listed $63,000
29. 1991-09-23
    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: $3,461 · $288/mo
• Projected year-2 tax: $3,568 · $297/mo
• Expected delta: +$107/yr (+$9/mo · 3.1%)

ⓘ 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 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥110°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $814,935
• − Mortgage interest: −$10,923
• − Property taxes: −$3,461
• − Insurance: −$975
• − Repairs & maintenance: −$65,195
• − Management: −$65,195
• − Depreciation: −$5,673
• Taxable income: $663,513
• Est. tax owed @ 24.0%: −$159,243
• After-tax cash flow: $467,848/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: Santa Fe ISD
• NCES district ID: 4839270
• Math proficiency: 38% ▼ -10.00%
• Reading proficiency: 39% ▼ -2.00%
• Median HH income: $66,769
• Composite: 34.86/100
• National rank: #5091
• State rank: #385 of 826 in TX

Livability — Santa Fe

• Score: 67/100
• State rank: #550
• US rank: #10637

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Santa Fe, TX
• Population (ZIP): 13,938

Population outlook (Galveston County) Hauer SSP2

• Today (2025): 390,640 people
• By 2030: 425,226 · +8.9%
• By 2040: 493,765 · +26.4%
• By 2050: 559,698 · +43.3%
• By 2075: 719,260 · +84.1%
• By 2100: 819,628 · +109.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (72%)
• Race & ethnicity: White 72% Hispanic / Latino 21% Two or more races 17% Asian 2%
• Hispanic origin (detail): Mexican 14% Puerto Rican 3% Cuban 1%
• Common ancestry: Lithuanian 4% Italian 3% Slovak 1%
• Foreign-born: 5% · Canada
• Languages at home: 89% English-only · Spanish 10% Tagalog/Filipino 1%

Political lean MEDSL · Galveston

• 2024 margin: Strong R (+27.4) · D 35.7% · R 63.1% · Other 1.2%
• 2008→2024 swing: -7.9pp toward R · 2008: -19.5pp · 2024: -27.4pp
• All cycles: 2024: R+27.4 2020: R+22.6 2016: R+22.6 2012: R+26.9 2008: R+19.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -54.15%
• Current HPI: 299.2228
• 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

+233.3% since first listed

15 events — show timeline

• 2026-03-06 Listed $210,000 HARMLS
• 2025-12-31 Listing Removed — HARMLS
• 2025-09-03 Price Changed $210,000 HARMLS
• 2025-07-04 Listed $220,000 HARMLS
• 2025-06-30 Listing Removed — HARMLS
• 2025-04-04 Price Changed $224,000 HARMLS
• 2025-02-10 Listing Removed — HARMLS
• 2025-02-10 Listed $234,000 HARMLS
• 2024-12-28 Listed $249,000 HARMLS
• 2024-12-26 Coming Soon — HARMLS
• 2012-12-11 Sold (Public Records) — Public Records
• 2012-12-11 Sold (MLS) — HARMLS
• 2012-09-03 Listing Removed — HARMLS
• 2012-06-15 Listed $63,000 HARMLS
• 1991-09-23 Sold (Public Records) — Public Records

Property tax history

+6.8%/yr

Latest (2025): $3,461 · +7.0% YoY. Source: county tax records.