116 W Mahan St · Richwood, TX 77531

$119,900

3 bd · 1.0 ba · 1,128 sqft · SingleFamily public records · 101 Days on market

Built 1979 5,758 sqft lot $106/sqft · 36% below area Est $188k · 36% under ↓ 14% 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).

• Cash flow +18.1/30.0
• ARV discount +15.0/15.0
• Appreciation +7.5/10.0
• DSCR +5.7/10.0
• 1% rule +4.8/10.0
• Livability +3.8/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Opportunity awaits with this 3-bedroom, 1.5-bath home ready for your vision and updates. Providing a functional floor plan with plenty of potential for upgrades and improvements. Located in an established area, this home has never flooded, offering added peace of mind. With some TLC and updates, this property could become a great income-producing rental or a beautifully refreshed home.

Key facts

• Never flooded
• 5,758 sq ft lot
• Built 1979

Tags

• FUNCTIONAL FLOOR PLAN
• NEVER FLOODED
• INCOME-PRODUCING RENTAL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $106 ($1k/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 $117k (2.2% below list).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 2.1% in Richwood — 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 76/100 on livability (#102 in TX, #3,430 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: schools C-, amenities F, commute F.
• Brazosport ISD (suburban): math 43% / reading 41% proficiency, ranked #305 of 826 in TX (top 37%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 115 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 3,960 units permitted in Brazoria County in 2024 (593 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($829 loan paydown + $6k appreciation (4.9% local appreciation)).
• Brazoria County population projected at +44% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (4.9% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($109k) 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→26/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 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 1979 — 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. 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: 0.98% ✗
• Cap rate: 7.36%
• Cash-on-cash: 3.80%
• DSCR: 1.17
• GRM: 8.5

CMA / ARV

• ARV (median comp): $187,543
• List price: $119,900
• Delta: -36.07%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
202 Burkett St	0.33mi	3/1.0	1,240 (+10%)	10mo	$143,000	$115	60
718 Hollyhock St	0.58mi	3/1.5	1,192 (+6%)	8mo	$187,500	$157	55

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

4.93% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.0%
• Equity multiple: 2.01×
• Total profit: $33,943
• Equity at exit: $67,435

10-year hold

• IRR: 16.4%
• Equity multiple: 3.89×
• Total profit: $97,029
• Equity at exit: $115,963

Cash invested: $33,572 (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 77531

• Home prices YoY: 1.6%
• Active inventory: 115
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,173 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$141 /mo · $1,694/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $106

Break-even live

Break-even rent $1,038

Max offer price $119,900

Occupancy floor 86%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
500 Willow Dr Unit WILA8 Lake Jackson, TX	2.0	2.0	937	$935	$1.00	43d	1	1.12mi
500 Willow Dr Unit WILC1 Lake Jackson, TX	2.0	2.0	937	$995	$1.06	10d	1	1.12mi
100 Creekwood Landing Dr Clute, TX	1.0–3.0	1.0–2.0	931	$1,700	$1.83	19d	11	1.39mi

Listing history 20 events

1. 2026-06-18
   days on market $119,900 Active 101 DOM
2. 2026-06-17
   days on market $119,900 Active 100 DOM
3. 2026-06-16
   days on market $119,900 Active 99 DOM
4. 2026-06-15
   days on market $119,900 Active 98 DOM
5. 2026-06-13
   days on market $119,900 Active 96 DOM
6. 2026-06-09
   days on market $119,900 Active 92 DOM
7. 2026-06-08
   days on market $119,900 Active 91 DOM
8. 2026-06-07
   days on market $119,900 Active 90 DOM
9. 2026-06-04
   days on market $119,900 Active 87 DOM
10. 2026-06-03
    days on market $119,900 Active 86 DOM
11. 2026-06-02
    days on market $119,900 Active 85 DOM
12. 2026-06-01
    days on market $119,900 Active 84 DOM
13. 2026-05-31
    days on market $119,900 Active 83 DOM
14. 2026-05-15
    price $119,900 388-char remark

    Show marketing remark (388 chars)

    Opportunity awaits with this 3-bedroom, 1.5-bath home ready for your vision and updates. Providing a functional floor plan with plenty of potential for upgrades and improvements. Located in an established area, this home has never flooded, offering added peace of mind. With some TLC and updates, this property could become a great income-producing rental or a beautifully refreshed home.

15. 2026-04-22
    price $124,900 388-char remark

    Show marketing remark (388 chars)

    Opportunity awaits with this 3-bedroom, 1.5-bath home ready for your vision and updates. Providing a functional floor plan with plenty of potential for upgrades and improvements. Located in an established area, this home has never flooded, offering added peace of mind. With some TLC and updates, this property could become a great income-producing rental or a beautifully refreshed home.

16. 2026-04-06
    price $134,900 388-char remark

    Show marketing remark (388 chars)

    Opportunity awaits with this 3-bedroom, 1.5-bath home ready for your vision and updates. Providing a functional floor plan with plenty of potential for upgrades and improvements. Located in an established area, this home has never flooded, offering added peace of mind. With some TLC and updates, this property could become a great income-producing rental or a beautifully refreshed home.

17. 2026-03-09
    listed $139,900 Active 388-char remark

    Show marketing remark (388 chars)

    Opportunity awaits with this 3-bedroom, 1.5-bath home ready for your vision and updates. Providing a functional floor plan with plenty of potential for upgrades and improvements. Located in an established area, this home has never flooded, offering added peace of mind. With some TLC and updates, this property could become a great income-producing rental or a beautifully refreshed home.

18. 2022-02-04
    soldstatus
19. 2013-10-17
    soldstatus
20. 2007-08-10
    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: $1,694 · $141/mo
• Projected year-2 tax: $2,194 · $183/mo
• Expected delta: +$500/yr (+$42/mo · 29.5%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (shaded) · 23% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 10/10 Extreme 7 d/yr ≥114°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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,071
• − Mortgage interest: −$6,716
• − Property taxes: −$1,694
• − Insurance: −$600
• − Repairs & maintenance: −$1,126
• − Management: −$1,126
• − Depreciation: −$3,488
• Taxable loss: −$679
• Est. tax savings @ 24.0%: +$163
• After-tax cash flow: $1,440/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: Brazosport ISD
• NCES district ID: 4811190
• Math proficiency: 43% ▼ -6.00%
• Reading proficiency: 41% ▼ -2.00%
• Median HH income: $57,024
• Composite: 36.84/100
• National rank: #4557
• State rank: #305 of 826 in TX

Livability — Richwood

• Score: 76/100
• State rank: #102
• US rank: #3430

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Richwood, TX
• County: Brazoria County · 374,982 people
• City population: 16,260
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 16,406
• Household income: $73,240
• Rent vs Own: 47.7% rent · 52.3% own
• Severe rent burden: 424.0

Population outlook (Brazoria County) Hauer SSP2

• Today (2025): 420,414 people
• By 2030: 457,585 · +8.8%
• By 2040: 532,232 · +26.6%
• By 2050: 605,399 · +44.0%
• By 2075: 779,358 · +85.4%
• By 2100: 883,759 · +110.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: Hispanic / Latino 52% White 34% Two or more races 23% Black 10%
• Hispanic origin (detail): Mexican 44%
• Common ancestry: Iranian 1% Slovak 1% Romanian 1%
• Foreign-born: 11% · Canada, Jamaica
• Languages at home: 67% English-only · Spanish 32% Other Indo-European 1%

Political lean MEDSL · Brazoria

• 2024 margin: R (+19.7) · D 39.5% · R 59.2% · Other 1.3%
• 2008→2024 swing: +9.9pp toward D · 2008: -29.6pp · 2024: -19.7pp
• All cycles: 2024: R+19.7 2020: R+18.2 2016: R+24.6 2012: R+34.2 2008: R+29.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 4.93%
• Current HPI: 307.8644
• Rent YoY: —
• 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

-14.3% since first listed

7 events — show timeline

• 2026-05-15 Price Changed $119,900 HARMLS
• 2026-04-22 Price Changed $124,900 HARMLS
• 2026-04-06 Price Changed $134,900 HARMLS
• 2026-03-09 Listed $139,900 HARMLS
• 2022-02-04 Sold (Public Records) — Public Records
• 2013-10-17 Sold (Public Records) — Public Records
• 2007-08-10 Sold (Public Records) — Public Records

Property tax history

+0.3%/yr

Latest (2025): $1,694 · -8.6% YoY. Source: county tax records.