109 Meadows St · Cleveland, TX 77328

$184,990

3 bd · 1.0 ba · 1,120 sqft · SingleFamily public records · 71 Days on market

Built 1960 0.38 ac lot $165/sqft · 11% above area Est $166k · 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 +18.5/30.0
• DSCR +5.8/10.0
• 1% rule +4.8/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.4/15.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

VERY CUTE AND CHARMIN HOME, THIS HOUSE WAS BUILT IN 1960, BUT WAS REMODELED FROM A TO Z. THE RENOVATION STARTED IN 2014 AND WAS COMPLETED ON 2018, ACCORDING WITH THE OWNER, EVERYTHING WAS REPLACED, ELECTRIC WIRING, BRAKER'S BOX, PLUMBING, DRAINAGE, THERMAL INSULATION, A/C AND A/C DUCTS, GAS HEATHER, WATER HEATHER, CERAMMIC AND LAMINATED FLOORS, GRANITE ON KITCHEN AND MASTER BATHROOM, DOUBLE-HUNG WINDOWS, AND 2" MINI BLIND.THE HOUSE WAS COMPLETELY PAINTED IN AND OUT. THE ROOF WAS REPLACED A WEEK AGO (07/17/2025). OUTSIDE SOME WOOD SIDING WAS REPLACED FOR HARDY PLANK.

Key facts

• Plumbing
• Drainage
• Thermal insulation

Tags

• REMODELED FROM A TO Z
• ELECTRIC WIRING
• BRAKER'S BOX
• PLUMBING
• DRAINAGE
• THERMAL INSULATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $176 ($2k/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 $181k (2.0% below list).
• Recommended offer: $174k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 4.7% in Cleveland — 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 61/100 on livability (#1,013 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: schools F, crime D-, amenities 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: 336 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 35% 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 $6k 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 71 days — a 6% lower offer ($174k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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

• Climate carrying-cost: 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 $173,890 (6.0% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — 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. 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?
6. Crime grade is D 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?
7. 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?
8. 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.
9. 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.
10. 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: 7.43%
• Cash-on-cash: 4.07%
• DSCR: 1.18
• GRM: 8.5

CMA / ARV

• ARV (median comp): $166,041
• List price: $184,990
• Delta: 11.41%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
101-A Elm St	0.40mi	3/2.0	1,100 (-2%)	5mo	$69,999	$64	70
1107 N Blair St	0.74mi	3/1.0	1,092 (-2%)	10mo	$53,000	$49	53
178 County Road 3990	0.66mi	3/1.0	1,196 (+7%)	8mo	$169,900	$142	51
1622 N Travis Ave N	0.50mi	2/1.0 (-1)	1,026 (-8%)	8mo	$145,000	$141	51
503 Mildred St	0.53mi	2/1.0 (-1)	1,040 (-7%)	10mo	$179,999	$173	50
207 Dora St	0.49mi	2/1.0 (-1)	1,179 (+5%)	17mo	$190,000	$161	49
104 Michael St	0.31mi	2/2.0 (-1)	952 (-15%)	19mo	$85,000	$89	36

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: -9.9%
• Equity multiple: 0.64×
• Total profit: $-18,770
• Equity at exit: $27,583

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-1,875
• Equity at exit: $15,995

Cash invested: $51,797 (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 77328

• Home prices YoY: -7.7%
• Active inventory: 336
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,813 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$209 /mo · $2,513/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $176

Break-even live

Break-even rent $1,591

Max offer price $184,990

Occupancy floor 85%

Sensitivity live

Price	-10% $280	-5% $228	+0% $176	+5% $123	+10% $71
Rent	-10% $32	-5% $104	+0% $176	+5% $247	+10% $319
Rate	-1.0pp $269	-0.5pp $223	base $176	+0.5pp $128	+1.0pp $79

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: $46,248
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1018 Green Ave Cleveland, TX	4.0	2.0	1337	$1,500	$1.12	22d	1	0.83mi
1301 Nevell St Cleveland, TX	1.0–3.0	1.0–2.0	827	$1,255	$1.52	1d	4	1.03mi

Listing history 18 events

1. 2026-06-18
   days on market $184,990 Active 71 DOM
2. 2026-06-17
   days on market $184,990 Active 70 DOM
3. 2026-06-16
   days on market $184,990 Active 69 DOM
4. 2026-06-15
   days on market $184,990 Active 68 DOM
5. 2026-06-13
   days on market $184,990 Active 66 DOM
6. 2026-06-09
   days on market $184,990 Active 62 DOM
7. 2026-06-08
   days on market $184,990 Active 61 DOM
8. 2026-06-07
   days on market $184,990 Active 60 DOM
9. 2026-06-04
   days on market $184,990 Active 57 DOM
10. 2026-06-03
    days on market $184,990 Active 56 DOM
11. 2026-06-02
    days on market $184,990 Active 55 DOM
12. 2026-06-01
    days on market $184,990 Active 54 DOM
13. 2026-05-31
    days on market $184,990 Active 53 DOM
14. 2026-04-08
    listed $184,990 Active 577-char remark

    Show marketing remark (577 chars)

    VERY CUTE AND CHARMIN HOME, THIS HOUSE WAS BUILT IN 1960, BUT WAS REMODELED FROM A TO Z. THE RENOVATION STARTED IN 2014 AND WAS COMPLETED ON 2018, ACCORDING WITH THE OWNER, EVERYTHING WAS REPLACED, ELECTRIC WIRING, BRAKER'S BOX, PLUMBING, DRAINAGE, THERMAL INSULATION, A/C AND A/C DUCTS, GAS HEATHER, WATER HEATHER, CERAMMIC AND LAMINATED FLOORS, GRANITE ON KITCHEN AND MASTER BATHROOM, DOUBLE-HUNG WINDOWS, AND 2" MINI BLIND.THE HOUSE WAS COMPLETELY PAINTED IN AND OUT. THE ROOF WAS REPLACED A WEEK AGO (07/17/2025). OUTSIDE SOME WOOD SIDING WAS REPLACED FOR HARDY PLANK.

15. 2026-03-31
    historical
16. 2026-01-02
    status Active
17. 2025-12-31
    historical
18. 2025-07-24
    listed $184,990 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: $2,513 · $209/mo
• Projected year-2 tax: $3,385 · $282/mo
• Expected delta: +$872/yr (+$73/mo · 34.7%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°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: $21,757
• − Mortgage interest: −$10,362
• − Property taxes: −$2,513
• − Insurance: −$925
• − Repairs & maintenance: −$1,741
• − Management: −$1,741
• − Depreciation: −$5,382
• Taxable loss: −$906
• Est. tax savings @ 24.0%: +$217
• After-tax cash flow: $2,326/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: 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 — Cleveland

• Score: 61/100
• State rank: #1013
• US rank: #17943

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Cleveland, TX
• County: San Jacinto County · 17,208 people
• City population: 17,208
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 17,208
• Household income: $62,428
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 58.0

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: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 33% Two or more races 14% Black 2%
• Hispanic origin (detail): Mexican 27% Cuban 1%
• Common ancestry: Lithuanian 4% Italian 3% Serbian 3%
• Foreign-born: 18% · Canada, China
• Languages at home: 67% English-only · Spanish 31% Chinese 1%

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: ▼ -22.82%
• Current HPI: 273.6604
• 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

+0.0% since first listed

5 events — show timeline

• 2026-04-08 Listed $184,990 HARMLS
• 2026-03-31 Listing Removed — HARMLS
• 2026-01-02 Relisted — HARMLS
• 2025-12-31 Listing Removed — HARMLS
• 2025-07-24 Listed $184,990 HARMLS

Property tax history

+12.5%/yr

Latest (2025): $2,513 · -6.6% YoY. Source: county tax records.