675 5604 Cor · Dayton, TX 77327

$155,000

3 bd · 2.0 ba · 1,194 sqft · Manufactured · 65 Days on market

Built 2017 Good condition 0.29 ac lot $130/sqft · 44% above area Est $108k · 44% over $13/mo HOA · 1% of rent

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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 +24.2/30.0
• DSCR +7.8/10.0
• 1% rule +5.5/10.0
• Condition / age +4.0/5.0
• Rent growth +3.5/5.0
• Livability +3.0/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

You can wake up each morning in this 3 bed 2 full bath gorgeous home with an open floor plan. Open concept kitchen, dining, and living room provide you with large spaces for entertaining your guests. Easy care laminate floors and nice size laundry room with washer and dryer connections. Electric stove and refrigerator included. Home is very close to the neighborhood elementary school. Don’t wait this is truly a beauty. AC to be installed once we have an approved application and tenant.

Key facts

• 0.29 acre lot
• Built 2017
• Listed 64 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $155k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $155k).
• Recommended offer: $146k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.2% in Dayton — 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 60/100 on livability (#1,066 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: schools D-, amenities F, commute F.
• Cleveland ISD (town): math 24% / reading 25% proficiency, ranked #723 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 71% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.0%/yr); 1578 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,321 units permitted in Liberty County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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.
• Liberty County population projected at +24% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($146k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: severe flood risk; 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 $145,700 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 1.05% ✓
• Cap rate: 8.69%
• Cash-on-cash: 8.55%
• DSCR: 1.38
• GRM: 8.0

CMA / ARV

• ARV (median comp): $107,754
• List price: $155,000
• Delta: 43.85%
• Verdict: OVERPRICED
• Comps: 4 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
662 Road 5606	0.34mi	3/2.0	1,064 (-11%)	9mo	$110,000	$103	58

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 · 4.0% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.82×
• Total profit: $-8,012
• Equity at exit: $23,111

10-year hold

• IRR: 5.9%
• Equity multiple: 1.46×
• Total profit: $19,844
• Equity at exit: $13,402

Cash invested: $43,400 (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 77327

• Home prices YoY: -5.2%
• Rents YoY: 4.0%
• Active inventory: 1578
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,623 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$82 /mo · $988/yr
• Insurance: −$65
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$13
• Vacancy / Maint / Mgmt: −$341
• Net cashflow: $243

Break-even live

Break-even rent $1,316

Max offer price $155,000

Occupancy floor 80%

Sensitivity live

Price	-10% $330	-5% $286	+0% $243	+5% $199	+10% $155
Rent	-10% $114	-5% $179	+0% $243	+5% $307	+10% $371
Rate	-1.0pp $321	-0.5pp $282	base $243	+0.5pp $202	+1.0pp $162

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1192 Road 57071 Cleveland, TX	2.0	2.0	1000	$950	$0.95	0d	1	0.62mi
203 Road 5248 Cleveland, TX	3.0	2.0	910	$1,680	$1.85	16d	1	1.30mi

HOA detail

• Monthly dues: $13 · $156/yr
• Likely covers: electric

Listing history 16 events

1. 2026-06-21
   days on market $155,000 Active 65 DOM
2. 2026-06-18
   days on market $155,000 Active 62 DOM
3. 2026-06-17
   days on market $155,000 Active 61 DOM
4. 2026-06-16
   days on market $155,000 Active 60 DOM
5. 2026-06-15
   days on market $155,000 Active 59 DOM
6. 2026-06-13
   days on market $155,000 Active 57 DOM
7. 2026-06-10
   price $155,000 Active 53 DOM
8. 2026-06-09
   days on market $165,000 Active 53 DOM
9. 2026-06-08
   days on market $165,000 Active 52 DOM
10. 2026-06-07
    days on market $165,000 Active 51 DOM
11. 2026-06-04
    days on market $165,000 Active 48 DOM
12. 2026-06-03
    days on market $165,000 Active 47 DOM
13. 2026-06-02
    days on market $165,000 Active 46 DOM
14. 2026-06-01
    days on market $165,000 Active 45 DOM
15. 2026-05-31
    days on market $165,000 Active 44 DOM
16. 2026-04-17
    listed $165,000 Active 496-char remark

    Show marketing remark (496 chars)

    You can wake up each morning in this 3 bed 2 full bath gorgeous home with an open floor plan. Open concept kitchen, dining, and living room provide you with large spaces for entertaining your guests. Easy care laminate floors and nice size laundry room with washer and dryer connections. Electric stove and refrigerator included. Home is very close to the neighborhood elementary school. Don’t wait this is truly a beauty. AC to be installed once we have an approved application and tenant.

ⓘ 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: $988 · $82/mo
• Projected year-2 tax: $2,836 · $236/mo
• Expected delta: +$1,848/yr (+$154/mo · 187.0%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥112°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 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: $19,471
• − Mortgage interest: −$8,682
• − Property taxes: −$988
• − Insurance: −$1,572
• − Repairs & maintenance: −$1,558
• − Management: −$1,558
• − HOA: −$156
• − Depreciation: −$4,509
• Taxable income: $447
• Est. tax owed @ 24.0%: −$107
• After-tax cash flow: $2,804/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab

This manufactured home is in good condition with modern appliances and laminate flooring. It's ready for a fresh coat of paint to enhance its curb appeal and interior aesthetics.

Value-add opportunities

• Both Painting interior walls — Fresh paint can improve curb appeal and interior aesthetics.
• Rental Ceiling fan maintenance — A well-maintained ceiling fan can improve air circulation and reduce energy costs.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting interior walls — Fresh paint can improve curb appeal and interior aesthetics. ↑
• Rental Ceiling fan maintenance — A well-maintained ceiling fan can improve air circulation and reduce energy costs. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Cleveland ISD
• NCES district ID: 4814370
• Math proficiency: 24% ▼ -13.00%
• Reading proficiency: 25% ▼ -4.00%
• Median HH income: $39,173
• Composite: 20.61/100
• National rank: #8549
• State rank: #723 of 826 in TX

Livability — Dayton

• Score: 60/100
• State rank: #1066
• US rank: #18940

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Liberty County · 82,189 people
• City population: 82,189
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 42,685
• Household income: $62,219
• Rent vs Own: 14.4% rent · 85.6% own
• Severe rent burden: 437.0

Population outlook (Liberty County) Hauer SSP2

• Today (2025): 87,956 people
• By 2030: 92,161 · +4.8%
• By 2040: 100,784 · +14.6%
• By 2050: 109,471 · +24.5%
• By 2075: 133,470 · +51.7%
• By 2100: 147,372 · +67.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Hispanic / Latino 54% White 36% Two or more races 18% Black 8% Native American 2%
• Hispanic origin (detail): Mexican 42%
• Common ancestry: Lithuanian 2% Serbian 1% Slovak 0%
• Foreign-born: 22% · Canada
• Languages at home: 51% English-only · Spanish 48%

Political lean MEDSL · Liberty

• 2024 margin: Solid R (+61.6) · D 19.0% · R 80.6%
• 2008→2024 swing: -17.9pp toward R · 2008: -43.7pp · 2024: -61.6pp
• All cycles: 2024: R+61.6 2020: R+59.7 2016: R+58.0 2012: R+53.3 2008: R+43.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -12.39%
• Current HPI: 224.9222
• Rent YoY: ▲ 4.00%
• 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

1 event — show timeline

• 2026-04-17 Listed $165,000 HARMLS

Property tax history

+2.3%/yr

Latest (2025): $988 · +0.5% YoY. Source: county tax records.