12002 10th St · Santa Fe, TX 77510

$360,000

3 bd · 2.0 ba · 1,868 sqft · SingleFamily public records · 73 Days on market

Built 1994 0.51 ac lot $193/sqft · 27% above area Est $284k · 27% over ↓ 5% since listing

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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
• 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
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nestled on a gorgeous half-acre lot in Santa Fe, this charming single-story brick home offers 3 bedrooms, 2 bathrooms, and a 2-car garage. Enjoy the fenced backyard with all the mature trees and spacious living area that flows seamlessly from the kitchen to the dining room. Built in 1994, this home features 1868 sq ft of living space. Located on City Services for water and sewer, it captures the essence of tranquil living. Outside there is room for a pool and Volleyball net! Your dog would have lots of space to run! Situated between Houston and Galveston, Santa Fe provides the perfect escape from city life. Move-in ready and waiting for you to call it home! No HOA and not in a flood zone!!!

Key facts

• Half acre lot
• Outdoor space
• Fenced backyard

Tags

• HALF ACRE LOT
• FENCED BACKYARD
• SPACIOUS LIVING ROOM
• OUTDOOR SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $360k.

Deal economics

• At list price, monthly cash flow is $12k ($149k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($19k rent vs $360k).
• Recommended offer: $338k (6.0% below list) — sets the bar for market timing.
• Cap rate 47.6% 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 $2k of loan paydown is wiped out by about $11k 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 $101k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 73 days — a 6% lower offer ($338k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $338,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 5.26% ✓
• Cap rate: 47.59%
• Cash-on-cash: 147.50%
• DSCR: 7.56
• GRM: 1.6

CMA / ARV

• ARV (median comp): $284,391
• List price: $360,000
• Delta: 26.59%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12008 7th St	0.38mi	3/2.5	1,866 (-0%)	9mo	$352,000	$189	72
4018 Avenue L	0.46mi	3/2.0	1,948 (+4%)	3mo	$359,000	$184	69
12546 D Bar Dr	0.59mi	3/2.0	1,933 (+4%)	7mo	$309,999	$160	61
11837 12th St	0.30mi	3/2.0	1,639 (-12%)	7mo	$317,500	$194	60
3826 Garden Hill Ln	0.68mi	3/2.0	1,904 (+2%)	7mo	$332,990	$175	59
12418 A Bar Dr	0.53mi	3/2.0	2,054 (+10%)	3mo	$284,900	$139	56
3911 Redbud Ct	0.58mi	4/2.0 (+1)	2,009 (+8%)	9mo	$360,000	$179	48
4310 A Bar Dr	0.69mi	3/2.0	1,622 (-13%)	3mo	$240,000	$148	44
12122 Blossom Dr	0.62mi	4/3.0 (+1)	2,051 (+10%)	4mo	$342,990	$167	42
12106 Maple Ct	0.66mi	4/3.0 (+1)	2,051 (+10%)	8mo	$342,990	$167	37
3859 Mulberry Farms Dr	0.61mi	4/3.0 (+1)	2,140 (+15%)	2mo	$387,840	$181	37
3818 Garden Hill Ln	0.70mi	4/3.0 (+1)	2,140 (+15%)	4mo	$346,990	$162	30

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: 8.25×
• Total profit: $731,131
• Equity at exit: $53,677

10-year hold

• IRR: —
• Equity multiple: 17.41×
• Total profit: $1,654,164
• Equity at exit: $31,126

Cash invested: $100,800 (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: 1.6×

Monthly cashflow live

• Estimated rent: $18,945 medium
• Mortgage (P&I): −$1,888
• Tax from tax record: −$538 /mo · $6,460/yr
• Insurance: −$150
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,978
• Net cashflow: $12,390

Break-even live

Break-even rent $3,261

Max offer price $360,000

Occupancy floor 30%

Sensitivity live

Price	-10% $12,594	-5% $12,492	+0% $12,390	+5% $12,288	+10% $12,186
Rent	-10% $10,893	-5% $11,642	+0% $12,390	+5% $13,138	+10% $13,887
Rate	-1.0pp $12,571	-0.5pp $12,482	base $12,390	+0.5pp $12,297	+1.0pp $12,202

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: $90,000
• Closing costs: $10,800
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11844 13th St Santa Fe, TX	3.0	2.0	1472	$1,750	$1.19	22d	1	0.30mi
4120 Avenue O #10 Santa Fe, TX	3.0	2.0	1280	$74,621	$58.30	44d	1	0.83mi

Listing history 7 events

1. 2026-06-02
   days on market $360,000 Pending 73 DOM
2. 2026-06-01
   days on market $360,000 Pending 72 DOM
3. 2026-05-31
   days on market $360,000 Pending 71 DOM
4. 2026-05-11
   price $360,000 699-char remark

   Show marketing remark (699 chars)

   Nestled on a gorgeous half-acre lot in Santa Fe, this charming single-story brick home offers 3 bedrooms, 2 bathrooms, and a 2-car garage. Enjoy the fenced backyard with all the mature trees and spacious living area that flows seamlessly from the kitchen to the dining room. Built in 1994, this home features 1868 sq ft of living space. Located on City Services for water and sewer, it captures the essence of tranquil living. Outside there is room for a pool and Volleyball net! Your dog would have lots of space to run! Situated between Houston and Galveston, Santa Fe provides the perfect escape from city life. Move-in ready and waiting for you to call it home! No HOA and not in a flood zone!!!

5. 2026-04-03
   price $370,000 699-char remark

   Show marketing remark (699 chars)

   Nestled on a gorgeous half-acre lot in Santa Fe, this charming single-story brick home offers 3 bedrooms, 2 bathrooms, and a 2-car garage. Enjoy the fenced backyard with all the mature trees and spacious living area that flows seamlessly from the kitchen to the dining room. Built in 1994, this home features 1868 sq ft of living space. Located on City Services for water and sewer, it captures the essence of tranquil living. Outside there is room for a pool and Volleyball net! Your dog would have lots of space to run! Situated between Houston and Galveston, Santa Fe provides the perfect escape from city life. Move-in ready and waiting for you to call it home! No HOA and not in a flood zone!!!

6. 2026-03-21
   listed $380,000 Active 699-char remark

   Show marketing remark (699 chars)

   Nestled on a gorgeous half-acre lot in Santa Fe, this charming single-story brick home offers 3 bedrooms, 2 bathrooms, and a 2-car garage. Enjoy the fenced backyard with all the mature trees and spacious living area that flows seamlessly from the kitchen to the dining room. Built in 1994, this home features 1868 sq ft of living space. Located on City Services for water and sewer, it captures the essence of tranquil living. Outside there is room for a pool and Volleyball net! Your dog would have lots of space to run! Situated between Houston and Galveston, Santa Fe provides the perfect escape from city life. Move-in ready and waiting for you to call it home! No HOA and not in a flood zone!!!

7. 1994-04-14
   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: $6,460 · $538/mo
• Projected year-2 tax: $6,588 · $549/mo
• Expected delta: +$128/yr (+$11/mo · 2.0%)

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

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥110°F today · 24 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: $227,336
• − Mortgage interest: −$20,166
• − Property taxes: −$6,460
• − Insurance: −$1,800
• − Repairs & maintenance: −$18,187
• − Management: −$18,187
• − Depreciation: −$10,473
• Taxable income: $152,063
• Est. tax owed @ 24.0%: −$36,495
• After-tax cash flow: $112,185/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

-5.3% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $360,000 HARMLS
• 2026-04-03 Price Changed $370,000 HARMLS
• 2026-03-21 Listed $380,000 HARMLS
• 1994-04-14 Sold (Public Records) — Public Records

Property tax history

+3.6%/yr

Latest (2025): $6,460 · +6.7% YoY. Source: county tax records.