504 W Wardville St · Cleburne, TX 76033

$180,000

3 bd · 1.0 ba · 1,835 sqft · SingleFamily public records · 28 Days on market

Built 1910 0.40 ac lot Est $290k · 38% under

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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 +19.8/30.0
• ARV discount +15.0/15.0
• DSCR +6.3/10.0
• 1% rule +4.8/10.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

REDUCED!! Charming, early American home near downtown Cleburne. Enjoy summer evenings on the large, covered porch. Interior features original wood floors, high ceilings and lots of windows. A few cosmetic touchups needed to restore its original grandeur, but worth the effort! Property to be sold AS IS. Buyer or Buyer's Agent to verify all info. SQ FT info from FHA appraisal deemed reliable but not guaranteed.

Key facts

• Beautiful built-ins
• High ceilings
• 0.4 acre lot

Tags

• LARGE COVERED FRONT PORCH
• ORIGINAL HARDWOOD FLOORS
• HIGH CEILINGS
• BEAUTIFUL BUILT-INS
• ABUNDANT NATURAL LIGHT
• ORIGINAL CLAWFOOT TUB

Property features AI

Finance

• Other: Possession negotiable; Listing status: Active; Exclusions noted for certain personal items
• Financial info: Listing terms: Cash; Second mortgage: No
• HOA & community: No homeowners association

Exterior

• Parking: Driveway
• Security: No specific security features provided
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; One story; Residential property; Preowned (built in 1910)
• Construction: Wood construction; Composition roof; Pillar/post/pier foundation; Year built 1910
• Exterior features: Covered porch(es); Covered and decked patio/front porch; Chain link and wood fencing; Lot under 0.5 acre

Interior

• Kitchen: Electric range; Kitchen approximately 10 x 8
• Bedrooms: Four bedrooms (all on the main level); Primary bedroom approximately 15 x 11; Bedroom approximately 15 x 12; Bedroom approximately 17 x 11
• Flooring: Hardwood flooring; Laminate flooring
• Bathrooms: Two full bathrooms
• Heating & cooling: No heating or cooling details provided
• Interior features: Six total rooms; Two living areas; One dining area; Other interior features; Two fireplaces (in bedroom and living room)
• Laundry & utility: No specific laundry/utility details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $213 ($3k/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 $176k (2.3% below list).
• Recommended offer: $176k (2.3% below list) — sets the bar for 1% rule.
• Cap rate 7.7% vs local median 3.6% in Cleburne — 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 68/100 on livability (#460 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment C-, amenities F, commute F.
• Cleburne ISD (town): math 34% / reading 33% proficiency, ranked #537 of 826 in TX (top 65%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Coleman El (math 28% / reading 33%, grade F, #2,464 of 4,322 statewide, top 58%, 518 students, 65% FRL).
• Market conditions: Rents soft (-0.8%/yr); 660 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,152 units permitted in Johnson County in 2024 (76 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.
• Johnson 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 28 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% 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.

Recommended offer $175,923 (2.3% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
5. 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.
6. 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: 7.71%
• Cash-on-cash: 5.07%
• DSCR: 1.23
• GRM: 8.5

CMA / ARV

• ARV (on-the-fly): $289,930
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
114 S Field St	0.23mi	3/2.0	1,800 (-2%)	1mo	$249,900	$139	81
504 Featherston St	0.28mi	3/2.0	1,808 (-2%)	2mo	$265,000	$147	78
413 Shaw St	0.22mi	3/1.0	1,713 (-7%)	7mo	$160,000	$93	73
422 W Wilson St	0.28mi	3/2.0	1,745 (-5%)	4mo	$239,500	$137	72
203 Bellevue Dr	0.47mi	3/2.0	1,820 (-1%)	4mo	$270,000	$148	69
107 Sunset Dr	0.48mi	3/2.0	1,750 (-5%)	3mo	$399,900	$229	64
216 W Willingham St	0.15mi	3/2.0	1,592 (-13%)	5mo	$264,900	$166	63
511 W Wilson St	0.27mi	3/2.0	1,604 (-13%)	2mo	$329,000	$205	61
611 Forrest Ave	0.59mi	3/2.0	1,964 (+7%)	3mo	$310,000	$158	54
603 S Walnut St	0.54mi	3/2.0	1,996 (+9%)	5mo	$399,900	$200	52
702 N Walnut St	0.36mi	4/3.0 (+1)	1,680 (-8%)	6mo	$275,000	$164	51
1016 Sheridan Ln	0.62mi	3/2.0	2,070 (+13%)	3mo	$264,999	$128	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.59×
• Total profit: $-20,788
• Equity at exit: $26,839

10-year hold

• IRR: -7.4%
• Equity multiple: 0.59×
• Total profit: $-20,637
• Equity at exit: $15,563

Cash invested: $50,400 (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 76033

• Rents YoY: -0.8%
• Active inventory: 660
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,759 high
• Mortgage (P&I): −$944
• Tax from tax record: −$158 /mo · $1,897/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$369
• Net cashflow: $213

Break-even live

Break-even rent $1,490

Max offer price $180,000

Occupancy floor 83%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
318 College St Unit B Cleburne, TX	2.0	1.0	1256	$1,150	$0.92	24d	1	0.16mi
405 College St Cleburne, TX	3.0	2.0	1396	$1,650	$1.18	6d	1	0.19mi
413 Shaw St Cleburne, TX	4.0	2.0	1713	$2,100	$1.23	43d	1	0.22mi
110 E Wilson St Unit B Cleburne, TX	3.0	2.5	1400	$1,900	$1.36	24d	1	0.51mi
405 Madison St Unit Na Cleburne, TX	3.0	2.0	1645	$1,975	$1.20	43d	1	0.52mi
805 N Douglas Ave Cleburne, TX	3.0	2.0	1460	$1,999	$1.37	43d	1	0.57mi
103 May Ave Cleburne, TX	3.0	2.0	1262	$1,795	$1.42	6d	1	0.60mi
704 S Anglin St Cleburne, TX	4.0	3.0	2000	$2,110	$1.05	24d	1	0.63mi
1005 Granbury St Unit A Cleburne, TX	3.0	2.0	1362	$2,050	$1.51	24d	1	0.65mi
612 N Robinson St Cleburne, TX	3.0	2.5	1311	$2,200	$1.68	43d	1	0.68mi
1202 Spell Ave Cleburne, TX	3.0	2.0	1482	$1,850	$1.25	13d	1	0.71mi
521 Woodard Ave Unit One Cleburne, TX	2.0	1.0	1350	$1,000	$0.74	43d	1	0.73mi
1315 Joslin St Cleburne, TX	3.0	2.0	1294	$1,595	$1.23	7d	1	0.86mi
1108 Poindexter Ave Cleburne, TX	3.0	1.0	1300	$1,550	$1.19	43d	1	0.86mi
114 Scurlock Ave Cleburne, TX	4.0	2.0	1457	$1,770	$1.21	43d	1	1.02mi
1405 Granbury St Cleburne, TX	3.0	1.0	1278	$1,545	$1.21	24d	1	1.03mi
706 S Brazos Ave Unit B Cleburne, TX	4.0	2.0	1400	$1,800	$1.29	24d	1	1.06mi
1434 Trail Creek Dr Cleburne, TX	3.0–4.0	2.0	2129	$2,350	$1.10	22d	1	1.10mi
960 Traction Trl Cleburne, TX	4.0	2.0	1836	$2,200	$1.20	43d	1	1.11mi
1606 Granbury St Unit A Cleburne, TX	3.0	2.0	1289	$1,650	$1.28	13d	1	1.15mi
438 Sabine Ave Cleburne, TX	3.0	2.0	1230	$1,650	$1.34	13d	1	1.21mi
226 Seclusion Dr Cleburne, TX	3.0–4.0	2.0	1641	$2,205	$1.34	1d	1	1.23mi
1424 Phillips St Cleburne, TX	3.0	1.5	1360	$1,795	$1.32	43d	1	1.33mi
414 Rose Ave Cleburne, TX	4.0	2.0	1763	$2,214	$1.26	2d	1	1.35mi
404 Rose Ave Cleburne, TX	4.0	2.0	1763	$2,249	$1.28	7d	1	1.35mi
1311 Manor Dr Cleburne, TX	3.0	2.0	1492	$1,825	$1.22	24d	1	1.36mi

Listing history 25 events

1. 2026-06-18
   days on market $180,000 Active 28 DOM
2. 2026-06-17
   days on market $180,000 Active 27 DOM
3. 2026-06-16
   days on market $180,000 Active 26 DOM
4. 2026-06-15
   days on market $180,000 Active 25 DOM
5. 2026-06-13
   days on market $180,000 Active 23 DOM
6. 2026-06-09
   days on market $180,000 Active 19 DOM
7. 2026-06-08
   days on market $180,000 Active 18 DOM
8. 2026-06-07
   days on market $180,000 Active 17 DOM
9. 2026-06-04
   days on market $180,000 Active 14 DOM
10. 2026-06-03
    days on market $180,000 Active 13 DOM
11. 2026-06-02
    days on market $180,000 Active 12 DOM
12. 2026-06-01
    days on market $180,000 Active 11 DOM
13. 2026-05-31
    days on market $180,000 Active 10 DOM
14. 2026-05-21
    listed $180,000 Active
15. 2011-08-02
    soldstatus
16. 2011-07-29
    soldstatus Closed 413-char remark

    Show marketing remark (413 chars)

    REDUCED!! Charming, early American home near downtown Cleburne. Enjoy summer evenings on the large, covered porch. Interior features original wood floors, high ceilings and lots of windows. A few cosmetic touchups needed to restore its original grandeur, but worth the effort! Property to be sold AS IS. Buyer or Buyer's Agent to verify all info. SQ FT info from FHA appraisal deemed reliable but not guaranteed.

17. 2011-07-07
    status Pending 413-char remark

    Show marketing remark (413 chars)

    REDUCED!! Charming, early American home near downtown Cleburne. Enjoy summer evenings on the large, covered porch. Interior features original wood floors, high ceilings and lots of windows. A few cosmetic touchups needed to restore its original grandeur, but worth the effort! Property to be sold AS IS. Buyer or Buyer's Agent to verify all info. SQ FT info from FHA appraisal deemed reliable but not guaranteed.

18. 2011-06-30
    price $28,000 413-char remark

    Show marketing remark (413 chars)

    REDUCED!! Charming, early American home near downtown Cleburne. Enjoy summer evenings on the large, covered porch. Interior features original wood floors, high ceilings and lots of windows. A few cosmetic touchups needed to restore its original grandeur, but worth the effort! Property to be sold AS IS. Buyer or Buyer's Agent to verify all info. SQ FT info from FHA appraisal deemed reliable but not guaranteed.

19. 2011-06-02
    status Active 413-char remark

    Show marketing remark (413 chars)

    REDUCED!! Charming, early American home near downtown Cleburne. Enjoy summer evenings on the large, covered porch. Interior features original wood floors, high ceilings and lots of windows. A few cosmetic touchups needed to restore its original grandeur, but worth the effort! Property to be sold AS IS. Buyer or Buyer's Agent to verify all info. SQ FT info from FHA appraisal deemed reliable but not guaranteed.

20. 2011-05-17
    status Pending 413-char remark

    Show marketing remark (413 chars)

    REDUCED!! Charming, early American home near downtown Cleburne. Enjoy summer evenings on the large, covered porch. Interior features original wood floors, high ceilings and lots of windows. A few cosmetic touchups needed to restore its original grandeur, but worth the effort! Property to be sold AS IS. Buyer or Buyer's Agent to verify all info. SQ FT info from FHA appraisal deemed reliable but not guaranteed.

21. 2011-04-29
    listed $33,000 Active 413-char remark

    Show marketing remark (413 chars)

    REDUCED!! Charming, early American home near downtown Cleburne. Enjoy summer evenings on the large, covered porch. Interior features original wood floors, high ceilings and lots of windows. A few cosmetic touchups needed to restore its original grandeur, but worth the effort! Property to be sold AS IS. Buyer or Buyer's Agent to verify all info. SQ FT info from FHA appraisal deemed reliable but not guaranteed.

22. 2004-04-07
    soldstatus
23. 2004-04-07
    soldstatus
24. 2004-03-12
    historical
25. 2004-02-04
    listed $74,900

ⓘ 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: $1,897 · $158/mo
• Projected year-2 tax: $3,294 · $274/mo
• Expected delta: +$1,397/yr (+$116/mo · 73.6%)

ⓘ 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 7/10 Severe 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% 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: $21,111
• − Mortgage interest: −$10,083
• − Property taxes: −$1,897
• − Insurance: −$900
• − Repairs & maintenance: −$1,689
• − Management: −$1,689
• − Depreciation: −$5,236
• Taxable loss: −$383
• Est. tax savings @ 24.0%: +$92
• After-tax cash flow: $2,645/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: Cleburne ISD
• NCES district ID: 4814310
• Math proficiency: 34% ▼ -2.00%
• Reading proficiency: 33% ▼ -2.00%
• Median HH income: $48,788
• Composite: 29.0/100
• National rank: #6618
• State rank: #537 of 826 in TX

Livability — Cleburne

• Score: 68/100
• State rank: #460
• US rank: #9292

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleburne, TX
• County: Johnson County · 147,987 people
• City population: 29,538
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 29,538
• Household income: $76,292
• Rent vs Own: 37.4% rent · 62.6% own
• Severe rent burden: 927.0

Population outlook (Johnson County) Hauer SSP2

• Today (2025): 179,678 people
• By 2030: 189,208 · +5.3%
• By 2040: 207,261 · +15.4%
• By 2050: 223,064 · +24.1%
• By 2075: 259,979 · +44.7%
• By 2100: 275,395 · +53.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (64%)
• Race & ethnicity: White 64% Hispanic / Latino 26% Two or more races 15% Black 4% Native American 1%
• Hispanic origin (detail): Mexican 23%
• Common ancestry: Slovak 2% Italian 2% Portuguese 1%
• Foreign-born: 8% · Canada, Guatemala, Vietnam
• Languages at home: 81% English-only · Spanish 17% Other Asian/Pacific 2%

Political lean MEDSL · Johnson

• 2024 margin: Solid R (+51.4) · D 23.9% · R 75.3%
• 2008→2024 swing: -3.9pp toward R · 2008: -47.5pp · 2024: -51.4pp
• All cycles: 2024: R+51.4 2020: R+53.0 2016: R+58.3 2012: R+55.6 2008: R+47.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -202.75%
• Current HPI: 246.0029
• Rent YoY: ▼ -0.83%
• Metro: Dallas-Fort Worth-Arlington, 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

+140.3% since first listed

12 events — show timeline

• 2026-05-21 Listed $180,000 NTREIS
• 2011-08-02 Sold (Public Records) — Public Records
• 2011-07-29 Sold (MLS) — NTREIS
• 2011-07-07 Pending — NTREIS
• 2011-06-30 Price Changed $28,000 NTREIS
• 2011-06-02 Relisted — NTREIS
• 2011-05-17 Pending — NTREIS
• 2011-04-29 Listed $33,000 NTREIS
• 2004-04-07 Sold (Public Records) — Public Records
• 2004-04-07 Sold (Public Records) — Public Records
• 2004-03-12 Listing Removed — NTREIS
• 2004-02-04 Listed $74,900 NTREIS

Property tax history

+0.4%/yr

Latest (2025): $1,897 · +11.7% YoY. Source: county tax records.