502 W Third St · Brenham, TX 77833

$165,000

3 bd · 2.0 ba · 1,251 sqft · SingleFamily public records · 97 Days on market

Built 1951 5,606 sqft lot $132/sqft · 36% below area Est $257k · 36% under ↓ 56% 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 +14.9/30.0
• DSCR +4.5/10.0
• 1% rule +4.2/10.0
• Schools +3.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Conveniently located within walking distance of Blinn College and Downtown Brenham, this former rental property offers great potential for investors or buyers looking to add value. Zoned R-2 (Mixed Residential), allowing for a variety of residential uses. Don't miss your chance to own a home in one of Brenham's most desirable and walkable locations. Adjacent property at 500 W Third St also for sale. Schedule your property tour today!

Key facts

• Zoned r-2
• 5,606 sq ft lot
• Built 1951

Tags

• ZONED R-2

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $47 ($568/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $151k (8.4% below list).
• Recommended offer: $150k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 2.7% in Brenham — 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 75/100 on livability (#136 in TX, #3,978 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, amenities A; Watch: schools C-, employment C-, crime F.
• Brenham ISD (town): math 50% / reading 40% proficiency, ranked #263 of 826 in TX (top 32%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 519 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 111 units permitted in Washington 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 $5k of value loss. Plan a longer hold.
• Washington County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 97 days — a 9% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y 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 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 98% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $150,150 (9.0% below list)

Questions for the listing agent

1. It's been on market 97 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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.
7. 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.
8. 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: 0.92% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.23%
• DSCR: 1.05
• GRM: 9.1

CMA / ARV

• ARV (median comp): $256,653
• List price: $165,000
• Delta: -35.71%
• 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
407 W Main St	0.33mi	3/2.0	1,315 (+5%)	3mo	$345,000	$262	73
213 N Austin St	0.50mi	3/2.0	1,292 (+3%)	5mo	$205,000	$159	67
512 W Jefferson St	0.48mi	3/2.0	1,350 (+8%)	2mo	$259,900	$193	62
408 W Chauncy St	0.60mi	2/1.5 (-1)	1,297 (+4%)	5mo	$178,200	$137	54
1603 S Jackson St	0.58mi	3/1.0	1,357 (+8%)	6mo	$239,000	$176	50
1285 Wilkins Valley St	0.60mi	3/2.0	1,409 (+13%)	3mo	$250,400	$178	49
102 E Valverde St	0.59mi	4/2.0 (+1)	1,393 (+11%)	1mo	$349,000	$251	48
905 Clinton St	0.55mi	2/1.0 (-1)	1,165 (-7%)	7mo	$275,000	$236	48
1305 Wilkins Valley St	0.60mi	3/2.0	1,434 (+15%)	1mo	$239,740	$167	46
1240 Wilkins Valley St	0.59mi	3/2.0	1,409 (+13%)	6mo	$247,065	$175	46
1228 Wilkins Valley St	0.59mi	3/2.0	1,409 (+13%)	6mo	$258,565	$184	46
1268 Wilkins Valley St	0.59mi	3/2.0	1,434 (+15%)	6mo	$245,315	$171	43

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: -14.3%
• Equity multiple: 0.49×
• Total profit: $-23,697
• Equity at exit: $24,602

10-year hold

• IRR: -5.5%
• Equity multiple: 0.64×
• Total profit: $-16,647
• Equity at exit: $14,266

Cash invested: $46,200 (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 77833

• Active inventory: 519
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $1,511 high
• Mortgage (P&I): −$865
• Tax from tax record: −$212 /mo · $2,546/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $47

Break-even live

Break-even rent $1,451

Max offer price $165,000

Occupancy floor 92%

Sensitivity live

Price	-10% $141	-5% $94	+0% $47	+5% $1	+10% $-46
Rent	-10% $-72	-5% $-12	+0% $47	+5% $107	+10% $167
Rate	-1.0pp $130	-0.5pp $89	base $47	+0.5pp $5	+1.0pp $-39

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 College Ave Brenham, TX	1.0–3.0	1.0–1.5	800	$1,375	$1.72	45d	2	0.05mi
705 S Jackson St Brenham, TX	2.0	1.0	1050	$1,312	$1.25	45d	2	0.05mi
101 W Second St Brenham, TX	3.0	2.5	1763	$1,700	$0.96	45d	1	0.34mi
1000 Marie St Brenham, TX	3.0	2.0	1322	$1,450	$1.10	45d	1	0.66mi
509 E Mansfield St Brenham, TX	3.0	2.0	1506	$1,400	$0.93	45d	1	0.78mi
1003 Oakridge St Brenham, TX	3.0	2.0	1452	$1,750	$1.21	45d	1	0.82mi
812 Burleson St Brenham, TX	3.0	1.0	1553	$1,525	$0.98	45d	1	0.83mi
1008 Oakridge St Brenham, TX	3.0	2.0	1153	$1,500	$1.30	45d	1	0.85mi
809 Jersey Ln Brenham, TX	2.0	1.0	884	$1,300	$1.47	45d	1	0.87mi
1006 Robinhood Rd Brenham, TX	3.0	2.0	1754	$1,700	$0.97	45d	1	0.90mi
1002 Garrett St Brenham, TX	3.0	2.0	1084	$1,450	$1.34	45d	1	0.92mi
2307 S Austin St Brenham, TX	2.0	1.0	948	$1,275	$1.34	45d	1	1.07mi
213 Munz St Brenham, TX	3.0	2.0	1568	$1,500	$0.96	45d	1	1.07mi
1700 Ellen St Brenham, TX	3.0	2.0	1860	$1,550	$0.83	45d	1	1.07mi
802 E Stone St Brenham, TX	3.0	2.0	1318	$1,750	$1.33	45d	1	1.11mi
204 Cornish Dr Brenham, TX	3.0	1.0	1242	$1,450	$1.17	45d	1	1.12mi
806 E Stone St Brenham, TX	3.0	2.0	1419	$1,500	$1.06	45d	1	1.12mi
900 E Stone St Brenham, TX	4.0	1.0	1272	$1,100	$0.86	45d	1	1.14mi
343 Stone Hill Dr Brenham, TX	2.0	2.0	1100	$1,475	$1.34	45d	1	1.16mi
908 E Stone St Brenham, TX	4.0	1.5	1769	$1,400	$0.79	45d	1	1.17mi
347 Stone Hill Dr Unit 4 Brenham, TX	2.0	2.0	1134	$1,000	$0.88	45d	1	1.19mi
309 McNeese St Brenham, TX	2.0	1.0	877	$1,400	$1.60	45d	1	1.22mi
2401 Stone Hollow Dr Brenham, TX	1.0–2.0	1.0–2.0	780	$1,042	$1.34	45d	3	1.22mi
226 N Dixie St Brenham, TX	3.0	2.0	1260	$2,100	$1.67	45d	1	1.28mi
715 Sabine St Brenham, TX	2.0	1.0	900	$1,450	$1.61	45d	1	1.43mi
1506 Simon Ave Brenham, TX	3.0	2.0	1579	$1,400	$0.89	45d	1	1.47mi

Listing history 24 events

1. 2026-06-21
   days on market $165,000 Active 97 DOM
2. 2026-06-19
   days on market $165,000 Active 95 DOM
3. 2026-06-18
   days on market $165,000 Active 94 DOM
4. 2026-06-17
   days on market $165,000 Active 93 DOM
5. 2026-06-16
   days on market $165,000 Active 92 DOM
6. 2026-06-15
   days on market $165,000 Active 91 DOM
7. 2026-06-14
   days on market $165,000 Active 89 DOM
8. 2026-06-12
   days on market $165,000 Active 88 DOM
9. 2026-06-09
   days on market $165,000 Active 85 DOM
10. 2026-06-09
    price $165,000 Active 84 DOM
11. 2026-06-08
    days on market $170,000 Active 84 DOM
12. 2026-06-07
    days on market $170,000 Active 83 DOM
13. 2026-06-02
    days on market $170,000 Active 78 DOM
14. 2026-06-01
    days on market $170,000 Active 77 DOM
15. 2026-05-31
    days on market $170,000 Active 76 DOM
16. 2026-05-30
    days on market $170,000 Active 75 DOM
17. 2026-03-16
    listed $170,000 Active 437-char remark

    Show marketing remark (437 chars)

    Conveniently located within walking distance of Blinn College and Downtown Brenham, this former rental property offers great potential for investors or buyers looking to add value. Zoned R-2 (Mixed Residential), allowing for a variety of residential uses. Don't miss your chance to own a home in one of Brenham's most desirable and walkable locations. Adjacent property at 500 W Third St also for sale. Schedule your property tour today!

18. 2026-03-12
    historical
19. 2025-11-12
    listed $175,000 Active
20. 2025-09-23
    historical
21. 2025-01-25
    listed $165,000 Active
22. 2024-08-24
    historical
23. 2024-04-29
    listed Active
24. 2024-02-24
    listed $385,000 Active

ⓘ 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: $2,546 · $212/mo
• Projected year-2 tax: $3,020 · $252/mo
• Expected delta: +$474/yr (+$39/mo · 18.6%)

ⓘ 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 5/10 Major
• 🌡 Heat 8/10 Severe 7 d/yr ≥111°F today · 23 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 98% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,129
• − Mortgage interest: −$9,243
• − Property taxes: −$2,546
• − Insurance: −$825
• − Repairs & maintenance: −$1,450
• − Management: −$1,450
• − Depreciation: −$4,800
• Taxable loss: −$2,185
• Est. tax savings @ 24.0%: +$524
• After-tax cash flow: $1,092/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: Brenham ISD
• NCES district ID: 4811280
• Math proficiency: 50% ▼ -4.00%
• Reading proficiency: 40% ▼ -4.00%
• Median HH income: $48,090
• Composite: 38.51/100
• National rank: #4177
• State rank: #263 of 826 in TX

Livability — Brenham

• Score: 75/100
• State rank: #136
• US rank: #3978

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Brenham, TX
• County: Washington County · 29,498 people
• City population: 29,498
• Metro: Brenham, TX
• Population (ZIP): 29,498
• Household income: $73,388
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 614.0

Population outlook (Washington County) Hauer SSP2

• Today (2025): 37,557 people
• By 2030: 38,789 · +3.3%
• By 2040: 41,305 · +10.0%
• By 2050: 43,687 · +16.3%
• By 2075: 50,242 · +33.8%
• By 2100: 53,235 · +41.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 59% Hispanic / Latino 20% Black 16% Two or more races 12% Asian 2%
• Hispanic origin (detail): Mexican 18%
• Common ancestry: Romanian 2% Lithuanian 2% Slovak 1%
• Foreign-born: 7% · Canada, South Korea
• Languages at home: 85% English-only · Spanish 12% Tagalog/Filipino 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Washington

• 2024 margin: Solid R (+54.7) · D 22.3% · R 77.0%
• 2008→2024 swing: -12.0pp toward R · 2008: -42.7pp · 2024: -54.7pp
• All cycles: 2024: R+54.7 2020: R+49.9 2016: R+51.3 2012: R+52.0 2008: R+42.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -107.24%
• Current HPI: 192.9078
• Rent YoY: —
• Metro: Brenham, 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

-55.8% since first listed

8 events — show timeline

• 2026-03-16 Listed $170,000 HARMLS
• 2026-03-12 Listing Removed — HARMLS
• 2025-11-12 Listed $175,000 HARMLS
• 2025-09-23 Listing Removed — HARMLS
• 2025-01-25 Listed $165,000 HARMLS
• 2024-08-24 Listing Removed — HARMLS
• 2024-04-29 Listed — Unlock MLS
• 2024-02-24 Listed $385,000 HARMLS

Property tax history

-0.7%/yr

Latest (2025): $2,546 · -48.0% YoY. Source: county tax records.