503 & 505 7th St · San Leon, TX 77539

$189,999

3 bd · 2.0 ba · 1,200 sqft · Land · 55 Days on market

Built 2012 3,201 sqft lot $158/sqft · 11% above area Est $171k · 11% over

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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 +19.0/30.0
• DSCR +6.0/10.0
• 1% rule +5.1/10.0
• Schools +3.5/10.0
• Livability +3.1/5.0
• ARV discount +2.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare DOUBLE-LOT opportunity in San Leon! This property includes TWO adjacent lots being sold together, offering exceptional potential for expansion, future development, or long-term value (buyer to verify). One lot features a 3-bedroom manufactured home with utilities, central A/C, and skirting already in place, with final improvements scheduled for completion by next week. Combined lot size is approximately 6,400 sq ft (two 3,200 sq ft lots). Located just minutes from the water, this property combines coastal living with added land value, an increasingly rare find in the area. Ideal for a primary residence, weekend retreat, or strategic investment. The additional lot provides meaningful upside and flexibility. Property is being sold as-is. All room sizes are approximate and should be independently verified. Schedule your showing today!

Key facts

• 3,201 sq ft lot
• Parking
• Built 2012

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $190k.

Deal economics

• At list price, monthly cash flow is $198 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $184k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 1.7% in San Leon — 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 62/100 on livability (#899 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B+; Watch: amenities F, commute F, health & safety F.
• Dickinson ISD (suburban): math 39% / reading 40% proficiency, ranked #366 of 826 in TX (top 44%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: San Leon El (math 27% / reading 23%, grade F, #3,013 of 4,322 statewide, top 70%, 658 students, 84% FRL); R D Mcadams J H (math 32% / reading 40%, grade F, #805 of 1,662 statewide, top 50%, 950 students, 65% FRL); Dickinson H S (math 30% / reading 46%, grade F, #880 of 1,632 statewide, top 54%, 3,619 students, 64% FRL).
• Market conditions: Rents soft (-0.1%/yr); 678 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($184k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 3y 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.

Recommended offer $184,299 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.01% ✓
• Cap rate: 7.54%
• Cash-on-cash: 4.47%
• DSCR: 1.20
• GRM: 8.3

CMA / ARV

• ARV (median comp): $171,098
• List price: $189,999
• Delta: 11.05%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -12.8%
• Equity multiple: 0.55×
• Total profit: $-23,754
• Equity at exit: $28,329

10-year hold

• IRR: -9.1%
• Equity multiple: 0.51×
• Total profit: $-25,992
• Equity at exit: $16,428

Cash invested: $53,200 (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 77539

• Home prices YoY: -29.8%
• Rents YoY: -0.1%
• Active inventory: 678
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,913 medium
• Mortgage (P&I): −$996
• Tax est. 1.5%: −$237 /mo · $2,850/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $198

Break-even live

Break-even rent $1,662

Max offer price $189,999

Occupancy floor 85%

Sensitivity live

Price	-10% $329	-5% $264	+0% $198	+5% $132	+10% $67
Rent	-10% $47	-5% $122	+0% $198	+5% $274	+10% $349
Rate	-1.0pp $294	-0.5pp $246	base $198	+0.5pp $149	+1.0pp $99

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
335 6th St Dickinson, TX	3.0	2.0	1479	$1,850	$1.25	45d	1	0.22mi
535 12th St Dickinson, TX	3.0	2.0	1248	$1,950	$1.56	0d	1	0.35mi
1404 E Bayshore Dr Dickinson, TX	3.0	1.0	900	$1,000	$1.11	45d	1	0.70mi

Listing history 30 events

1. 2026-06-21
   days on market $189,999 Active 55 DOM
2. 2026-06-18
   days on market $189,999 Active 52 DOM
3. 2026-06-17
   days on market $189,999 Active 51 DOM
4. 2026-06-16
   days on market $189,999 Active 50 DOM
5. 2026-06-15
   days on market $189,999 Active 49 DOM
6. 2026-06-13
   days on market $189,999 Active 47 DOM
7. 2026-06-09
   days on market $189,999 Active 43 DOM
8. 2026-06-08
   days on market $189,999 Active 42 DOM
9. 2026-06-07
   days on market $189,999 Active 41 DOM
10. 2026-06-04
    days on market $189,999 Active 38 DOM
11. 2026-06-03
    days on market $189,999 Active 37 DOM
12. 2026-06-02
    days on market $189,999 Active 36 DOM
13. 2026-06-01
    days on market $189,999 Active 35 DOM
14. 2026-05-31
    days on market $189,999 Active 34 DOM
15. 2026-04-28
    listed $189,999 Active 848-char remark

    Show marketing remark (848 chars)

    Rare DOUBLE-LOT opportunity in San Leon! This property includes TWO adjacent lots being sold together, offering exceptional potential for expansion, future development, or long-term value (buyer to verify). One lot features a 3-bedroom manufactured home with utilities, central A/C, and skirting already in place, with final improvements scheduled for completion by next week. Combined lot size is approximately 6,400 sq ft (two 3,200 sq ft lots). Located just minutes from the water, this property combines coastal living with added land value, an increasingly rare find in the area. Ideal for a primary residence, weekend retreat, or strategic investment. The additional lot provides meaningful upside and flexibility. Property is being sold as-is. All room sizes are approximate and should be independently verified. Schedule your showing today!

16. 2026-04-26
    historical $189,999 848-char remark

    Show marketing remark (848 chars)

    Rare DOUBLE-LOT opportunity in San Leon! This property includes TWO adjacent lots being sold together, offering exceptional potential for expansion, future development, or long-term value (buyer to verify). One lot features a 3-bedroom manufactured home with utilities, central A/C, and skirting already in place, with final improvements scheduled for completion by next week. Combined lot size is approximately 6,400 sq ft (two 3,200 sq ft lots). Located just minutes from the water, this property combines coastal living with added land value, an increasingly rare find in the area. Ideal for a primary residence, weekend retreat, or strategic investment. The additional lot provides meaningful upside and flexibility. Property is being sold as-is. All room sizes are approximate and should be independently verified. Schedule your showing today!

17. 2026-04-26
    price $189,999 848-char remark

    Show marketing remark (848 chars)

    Rare DOUBLE-LOT opportunity in San Leon! This property includes TWO adjacent lots being sold together, offering exceptional potential for expansion, future development, or long-term value (buyer to verify). One lot features a 3-bedroom manufactured home with utilities, central A/C, and skirting already in place, with final improvements scheduled for completion by next week. Combined lot size is approximately 6,400 sq ft (two 3,200 sq ft lots). Located just minutes from the water, this property combines coastal living with added land value, an increasingly rare find in the area. Ideal for a primary residence, weekend retreat, or strategic investment. The additional lot provides meaningful upside and flexibility. Property is being sold as-is. All room sizes are approximate and should be independently verified. Schedule your showing today!

18. 2026-04-16
    historical 848-char remark

    Show marketing remark (848 chars)

    Rare DOUBLE-LOT opportunity in San Leon! This property includes TWO adjacent lots being sold together, offering exceptional potential for expansion, future development, or long-term value (buyer to verify). One lot features a 3-bedroom manufactured home with utilities, central A/C, and skirting already in place, with final improvements scheduled for completion by next week. Combined lot size is approximately 6,400 sq ft (two 3,200 sq ft lots). Located just minutes from the water, this property combines coastal living with added land value, an increasingly rare find in the area. Ideal for a primary residence, weekend retreat, or strategic investment. The additional lot provides meaningful upside and flexibility. Property is being sold as-is. All room sizes are approximate and should be independently verified. Schedule your showing today!

19. 2026-04-16
    historical $179,900 848-char remark

    Show marketing remark (848 chars)

    Rare DOUBLE-LOT opportunity in San Leon! This property includes TWO adjacent lots being sold together, offering exceptional potential for expansion, future development, or long-term value (buyer to verify). One lot features a 3-bedroom manufactured home with utilities, central A/C, and skirting already in place, with final improvements scheduled for completion by next week. Combined lot size is approximately 6,400 sq ft (two 3,200 sq ft lots). Located just minutes from the water, this property combines coastal living with added land value, an increasingly rare find in the area. Ideal for a primary residence, weekend retreat, or strategic investment. The additional lot provides meaningful upside and flexibility. Property is being sold as-is. All room sizes are approximate and should be independently verified. Schedule your showing today!

20. 2026-02-27
    soldstatus Closed 345-char remark

    Show marketing remark (345 chars)

    Bring your RV, build a tiny home or a beach cottage and be just a few blocks from the bay in heart of Sunny San Leon. Just minutes from several local restaurants and boat ramps. If you're looking for more than one lot there are a couple next to this one available at this time.There are no utilities currently on this lot but they are available.

21. 2025-12-03
    price $37,500 345-char remark

    Show marketing remark (345 chars)

    Bring your RV, build a tiny home or a beach cottage and be just a few blocks from the bay in heart of Sunny San Leon. Just minutes from several local restaurants and boat ramps. If you're looking for more than one lot there are a couple next to this one available at this time.There are no utilities currently on this lot but they are available.

22. 2025-05-21
    price $39,995 345-char remark

    Show marketing remark (345 chars)

    Bring your RV, build a tiny home or a beach cottage and be just a few blocks from the bay in heart of Sunny San Leon. Just minutes from several local restaurants and boat ramps. If you're looking for more than one lot there are a couple next to this one available at this time.There are no utilities currently on this lot but they are available.

23. 2025-03-05
    listed $49,000 Active 345-char remark

    Show marketing remark (345 chars)

    Bring your RV, build a tiny home or a beach cottage and be just a few blocks from the bay in heart of Sunny San Leon. Just minutes from several local restaurants and boat ramps. If you're looking for more than one lot there are a couple next to this one available at this time.There are no utilities currently on this lot but they are available.

24. 2025-01-31
    historical
25. 2024-06-15
    listed $49,000 Active
26. 2024-06-11
    historical
27. 2024-03-01
    listed $49,000 Active
28. 2024-02-29
    historical
29. 2024-01-05
    price $49,000
30. 2023-12-01
    listed $55,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $22,952
• − Mortgage interest: −$10,643
• − Property taxes: −$2,850
• − Insurance: −$950
• − Repairs & maintenance: −$1,836
• − Management: −$1,836
• − Depreciation: −$5,527
• Taxable loss: −$690
• Est. tax savings @ 24.0%: +$166
• After-tax cash flow: $2,542/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: Dickinson ISD
• NCES district ID: 4817070
• Math proficiency: 39% ▼ -11.00%
• Reading proficiency: 40% ▼ -2.00%
• Median HH income: $61,318
• Composite: 35.16/100
• National rank: #5005
• State rank: #366 of 826 in TX

Livability — San Leon

• Score: 62/100
• State rank: #899
• US rank: #16159

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: San Leon, TX
• County: Galveston County · 357,330 people
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 49,375
• Household income: $89,111
• Rent vs Own: 24.3% rent · 75.7% own
• Severe rent burden: 869.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 47% Hispanic / Latino 37% Two or more races 19% Black 10% Asian 3%
• Hispanic origin (detail): Mexican 29% Puerto Rican 2%
• Common ancestry: Italian 3% Romanian 2% Lithuanian 1%
• Foreign-born: 13% · Canada, Vietnam
• Languages at home: 73% English-only · Spanish 24% Vietnamese 1% Other Indo-European 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: ▼ -109.46%
• Current HPI: 258.0104
• Rent YoY: ▼ -0.12%
• 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

+245.5% since first listed

16 events — show timeline

• 2026-04-28 Listed $189,999 HARMLS
• 2026-04-26 Coming Soon $189,999 HARMLS
• 2026-04-26 Price Changed $189,999 HARMLS
• 2026-04-16 Listing Removed — HARMLS
• 2026-04-16 Coming Soon $179,900 HARMLS
• 2026-02-27 Sold (MLS) — HARMLS
• 2025-12-03 Price Changed $37,500 HARMLS
• 2025-05-21 Price Changed $39,995 HARMLS
• 2025-03-05 Listed $49,000 HARMLS
• 2025-01-31 Listing Removed — HARMLS
• 2024-06-15 Listed $49,000 HARMLS
• 2024-06-11 Listing Removed — HARMLS
• 2024-03-01 Listed $49,000 HARMLS
• 2024-02-29 Listing Removed — HARMLS
• 2024-01-05 Price Changed $49,000 HARMLS
• 2023-12-01 Listed $55,000 HARMLS