416 Bryan Way

Angleton, TX 77515

$253,900F

4 bd · 2.0 ba · 1,820 sqft · Built 2023 · Land · Pending · 418 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,851/mo
• Mortgage (P&I): −$1,331
• Tax + insurance: −$201
• HOA: −$36
• Vac / Maint / Mgmt: −$389
• Net cashflow: $-106/mo
• Annual: $-1,271/yr
• Cap rate: 5.79%
• Cash-on-cash: -1.79%
• DSCR: 0.92
• 1% rule: 0.73%
• Cash to close: $71,092

Investor read

• This is a 4-bed/2.0-bath land listed at $254k.
• At list price, monthly cash flow is $-106 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (7.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (27.1% below list).
• It's been on market 418 days — a 12% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $185k (27.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Location reads 74/100 on livability (#171 in TX, #4,520 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: amenities F, commute F.
• Angleton ISD (suburban): math 36% / reading 44% proficiency, ranked #375 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Southside El (math 37% / reading 32%, grade F, #1,995 of 4,322 statewide, top 50%, 315 students, 82% FRL); Angleton J H School (math 26% / reading 41%, grade F, #911 of 1,662 statewide, top 56%, 1,561 students, 68% FRL); Angleton H S (math 22% / reading 45%, grade F, #1,011 of 1,632 statewide, top 63%, 2,066 students, 67% FRL) — zoned schools average 73% FRL vs 54% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 932 active listings in the ZIP; solid renter incomes; 3,960 units permitted in Brazoria County in 2024 (593 in 5+ unit buildings).
• Brazoria County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 5.8% vs local median 4.0% in Angleton — 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.

Questions for listing agent

• 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?
• It's been on market 418 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
• 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?
• 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.