31 County Road 386 Off Fm 1725 · Cleveland, TX 77327

$1,295,000

3 bd · 2.0 ba · 650 sqft · MultiFamily · 861 Days on market

Built 1970 Fair condition 2.96 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.5/5.0
• Livability +3.1/5.0
• Condition / age +2.2/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

14 Units, Trailer, RV Home Park in Cleveland, Texas. 2.96 Acre Park with Pond presents an exceptional investment opportunity. Property has a recently improved Water Well and an Aerobic Septic System that cleans itself. This property is not in a flood zone. Property aims to expand its revenue streams beyond traditional accommodation by adding more rental spaces. This is a great Location of FM 1725, 30 minutes from Casinos, close to Lake Livingston and easy access to Hwy 59 - I-69!

Key facts

• 2.96 acre lot
• Built 1970
• Listed 861 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath multifamily listed at $1.29M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $5k ($64k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($18k rent vs $1.29M).
• Recommended offer: $1.14M (12.0% below list) — sets the bar for market timing.
• Cap rate 11.3% 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: Rents rising fast (+4.0%/yr); 1574 active listings in the ZIP; 1,321 units permitted in Liberty County in 2024 (0 in 5+ unit buildings).
• At $18,103/mo this rent would consume 349% of the median local household income ($62k/yr) (locally 437% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $9k of loan paydown is wiped out by about $39k 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.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $363k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 861 days — a 12% lower offer ($1.14M) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $1,139,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 861 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
7. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.40% ✓
• Cap rate: 11.25%
• Cash-on-cash: 17.71%
• DSCR: 1.79
• GRM: 6.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.0% rent growth · sell at horizon

5-year hold

• IRR: 10.3%
• Equity multiple: 1.41×
• Total profit: $149,689
• Equity at exit: $193,089

10-year hold

• IRR: 20.2%
• Equity multiple: 2.79×
• Total profit: $647,413
• Equity at exit: $111,968

Cash invested: $362,600 (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: 1574
• Price-to-rent: 83.5×

Monthly cashflow live

• Estimated rent: $18,103 medium
• Mortgage (P&I): −$6,791
• Tax est. 1.5%: −$1,619 /mo · $19,425/yr
• Insurance: −$540
• HOA: −$0
• Vacancy / Maint / Mgmt: −$3,802
• Net cashflow: $5,352

Break-even live

Break-even rent $11,328

Max offer price $1,295,000

Occupancy floor 65%

14-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 14× units	2	2	$18,102
Total (14 units)			$18,103

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: $323,750
• Closing costs: $38,850
• Reserves months: —
• Total cash needed: —

Listing history 16 events

1. 2026-06-18
   days on market $1,295,000 Active 861 DOM
2. 2026-06-17
   days on market $1,295,000 Active 860 DOM
3. 2026-06-16
   days on market $1,295,000 Active 859 DOM
4. 2026-06-15
   days on market $1,295,000 Active 858 DOM
5. 2026-06-13
   days on market $1,295,000 Active 856 DOM
6. 2026-06-09
   days on market $1,295,000 Active 852 DOM
7. 2026-06-08
   days on market $1,295,000 Active 851 DOM
8. 2026-06-07
   days on market $1,295,000 Active 850 DOM
9. 2026-06-04
   days on market $1,295,000 Active 847 DOM
10. 2026-06-03
    days on market $1,295,000 Active 846 DOM
11. 2026-06-02
    days on market $1,295,000 Active 845 DOM
12. 2026-06-01
    days on market $1,295,000 Active 844 DOM
13. 2026-05-31
    days on market $1,295,000 Active 843 DOM
14. 2024-06-15
    status Active 486-char remark

    Show marketing remark (486 chars)

    14 Units, Trailer, RV Home Park in Cleveland, Texas. 2.96 Acre Park with Pond presents an exceptional investment opportunity. Property has a recently improved Water Well and an Aerobic Septic System that cleans itself. This property is not in a flood zone. Property aims to expand its revenue streams beyond traditional accommodation by adding more rental spaces. This is a great Location of FM 1725, 30 minutes from Casinos, close to Lake Livingston and easy access to Hwy 59 - I-69!

15. 2024-05-24
    historical 486-char remark

    Show marketing remark (486 chars)

    14 Units, Trailer, RV Home Park in Cleveland, Texas. 2.96 Acre Park with Pond presents an exceptional investment opportunity. Property has a recently improved Water Well and an Aerobic Septic System that cleans itself. This property is not in a flood zone. Property aims to expand its revenue streams beyond traditional accommodation by adding more rental spaces. This is a great Location of FM 1725, 30 minutes from Casinos, close to Lake Livingston and easy access to Hwy 59 - I-69!

16. 2024-01-17
    listed $1,295,000 Active 486-char remark

    Show marketing remark (486 chars)

    14 Units, Trailer, RV Home Park in Cleveland, Texas. 2.96 Acre Park with Pond presents an exceptional investment opportunity. Property has a recently improved Water Well and an Aerobic Septic System that cleans itself. This property is not in a flood zone. Property aims to expand its revenue streams beyond traditional accommodation by adding more rental spaces. This is a great Location of FM 1725, 30 minutes from Casinos, close to Lake Livingston and easy access to Hwy 59 - I-69!

ⓘ 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: $217,236
• − Mortgage interest: −$72,540
• − Property taxes: −$19,425
• − Insurance: −$6,475
• − Repairs & maintenance: −$17,379
• − Management: −$17,379
• − Depreciation: −$37,673
• Taxable income: $46,365
• Est. tax owed @ 24.0%: −$11,128
• After-tax cash flow: $53,095/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 · 7 photos

Fair 45/100 Moderate rehab

This multi-family property requires moderate renovations to improve its condition and increase its value. Repairs to the roof, flooring, and HVAC are necessary, along with painting and landscaping improvements.

Repairs flagged

• Major roof — Signs of potential leaks
• Major flooring — Worn and possibly unsafe
• Major HVAC/mechanicals — No recent maintenance

Value-add opportunities

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both replace flooring — New flooring improves safety and adds value
• Both service HVAC — A functional HVAC system ensures comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · Signs of potential leaks	Major	$15,000–50,000
flooring · Worn and possibly unsafe	Major	$15,000–50,000
HVAC/mechanicals · No recent maintenance	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace flooring — New flooring improves safety and adds value ↑
• Both service HVAC — A functional HVAC system ensures comfort and energy efficiency ↑

ⓘ 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 — 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

• County: Liberty County · 82,189 people
• City population: 17,208
• 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

3 events — show timeline

• 2024-06-15 Relisted — HARMLS
• 2024-05-24 Listing Removed — HARMLS
• 2024-01-17 Listed $1,295,000 HARMLS