832 Eagles Nest Dr · Cleburne, TX 76031

$236,990

4 bd · 2.0 ba · 1,804 sqft · Land · 136 Days on market

Built 2025 5,663 sqft lot $131/sqft · at area comps Est $244k · at est. $40/mo HOA · 2% of rent ↓ 15% 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 +20.8/30.0
• ARV discount +8.7/15.0
• DSCR +6.6/10.0
• 1% rule +4.7/10.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

MLS# 21128376 - Built by NHC - Ready Now! ~ Model 1804 A1 - Monroe The Monroe Plan from our Liberty Series combines thoughtful design and everyday functionality, offering 4 bedrooms, 2 bathrooms, a 2-car garage, and 1,804 square feet of well-planned living space. This single-story home features a split-bedroom layout for added privacy. At the front of the home, you’ll find three secondary bedrooms, a full bathroom, and a conveniently located laundry room. A versatile flex room near the main living area offers the perfect space for a home office, playroom, or sitting area. The bright and open kitchen is the heart of the Monroe Plan, complete with an island and a clear view of the dining area and spacious family room. The primary suite is tucked away on the opposite side of the home, offering a private retreat with a walk-in closet and an en suite bathroom.

Key facts

• 5,663 sq ft lot
• 2 garage spots
• Built 2025

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath land listed at $237k.

Deal economics

• At list price, monthly cash flow is $327 ($4k/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 $230k (2.8% below list).
• Recommended offer: $209k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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: Santa Fe El (math 37% / reading 32%, grade F, #1,995 of 4,322 statewide, top 50%, 409 students, 91% FRL); Lowell Smith Jr Middle (math 27% / reading 32%, grade F, #1,077 of 1,662 statewide, top 66%, 929 students, 68% FRL); Cleburne H S (math 46% / reading 38%, grade F, #730 of 1,632 statewide, top 47%, 1,976 students, 67% FRL) — zoned schools average 75% FRL vs 56% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 338 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $2k of loan paydown is wiped out by about $7k 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 136 days — a 12% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $41k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $208,551 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 7.95%
• Cash-on-cash: 5.92%
• DSCR: 1.26
• GRM: 8.6

CMA / ARV

• ARV (median comp): $243,631
• List price: $236,990
• Delta: -2.73%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.2%
• Equity multiple: 0.73×
• Total profit: $-17,617
• Equity at exit: $35,336

10-year hold

• IRR: 2.4%
• Equity multiple: 1.17×
• Total profit: $11,274
• Equity at exit: $20,491

Cash invested: $66,357 (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 76031

• Home prices YoY: -17.6%
• Active inventory: 338
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $2,304 high
• Mortgage (P&I): −$1,243
• Tax from tax record: −$111 /mo · $1,336/yr
• Insurance: −$99
• HOA: −$40
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $327

Break-even live

Break-even rent $1,890

Max offer price $236,990

Occupancy floor 81%

Sensitivity live

Price	-10% $461	-5% $394	+0% $327	+5% $260	+10% $193
Rent	-10% $145	-5% $236	+0% $327	+5% $418	+10% $509
Rate	-1.0pp $447	-0.5pp $387	base $327	+0.5pp $266	+1.0pp $203

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: $59,248
• Closing costs: $7,110
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
805 Bluffview Dr Cleburne, TX	4.0	2.5	2203	$2,245	$1.02	45d	1	0.07mi
872 Eagles Nest Dr Cleburne, TX	4.0	2.5	2203	$2,200	$1.00	45d	1	0.10mi
853 Eagles Nest Dr Cleburne, TX	5.0	3.0	2600	$2,490	$0.96	4d	1	0.11mi
853 Eagles Nest Dr Cleburne, TX	5.0	3.0	2600	$2,695	$1.04	26d	1	0.11mi
516 Quail Meadows Dr Cleburne, TX	5.0	3.0	1804	$2,400	$1.33	6d	1	0.17mi
544 Quail Meadows Dr Cleburne, TX	4.0	2.0	1804	$2,100	$1.16	26d	1	0.19mi
605 Mayfield Dr Cleburne, TX	3.0	3.0	2140	$2,340	$1.09	45d	1	0.20mi
303 Eastland St Cleburne, TX	3.0	3.0	1254	$1,950	$1.56	45d	1	0.71mi
1601 Annabelle St Cleburne, TX	4.0	2.0	1763	$2,280	$1.29	0d	1	0.84mi
438 Sabine Ave Cleburne, TX	3.0	2.0	1230	$1,650	$1.34	14d	1	0.87mi
1218 E James St Cleburne, TX	3.0	2.0	1335	$1,695	$1.27	45d	1	0.88mi
119 Kylie St Cleburne, TX	4.0	2.0	1763	$2,290	$1.30	0d	1	0.93mi
301 Pearl St Cleburne, TX	3.0	2.0	1405	$1,900	$1.35	26d	1	1.04mi
612 N Robinson St Cleburne, TX	3.0	2.5	1311	$2,200	$1.68	45d	1	1.39mi
114 Scurlock Ave Cleburne, TX	4.0	2.0	1457	$1,770	$1.21	45d	1	1.50mi

HOA detail

• Monthly dues: $40 · $480/yr

Listing history 10 events

1. 2026-05-18
   status Pending 883-char remark

   Show marketing remark (883 chars)

   MLS# 21128376 - Built by NHC - Ready Now! ~ Model 1804 A1 - Monroe The Monroe Plan from our Liberty Series combines thoughtful design and everyday functionality, offering 4 bedrooms, 2 bathrooms, a 2-car garage, and 1,804 square feet of well-planned living space. This single-story home features a split-bedroom layout for added privacy. At the front of the home, you’ll find three secondary bedrooms, a full bathroom, and a conveniently located laundry room. A versatile flex room near the main living area offers the perfect space for a home office, playroom, or sitting area. The bright and open kitchen is the heart of the Monroe Plan, complete with an island and a clear view of the dining area and spacious family room. The primary suite is tucked away on the opposite side of the home, offering a private retreat with a walk-in closet and an en suite bathroom.

2. 2026-05-15
   status Active 883-char remark

   Show marketing remark (883 chars)

   MLS# 21128376 - Built by NHC - Ready Now! ~ Model 1804 A1 - Monroe The Monroe Plan from our Liberty Series combines thoughtful design and everyday functionality, offering 4 bedrooms, 2 bathrooms, a 2-car garage, and 1,804 square feet of well-planned living space. This single-story home features a split-bedroom layout for added privacy. At the front of the home, you’ll find three secondary bedrooms, a full bathroom, and a conveniently located laundry room. A versatile flex room near the main living area offers the perfect space for a home office, playroom, or sitting area. The bright and open kitchen is the heart of the Monroe Plan, complete with an island and a clear view of the dining area and spacious family room. The primary suite is tucked away on the opposite side of the home, offering a private retreat with a walk-in closet and an en suite bathroom.

3. 2026-04-20
   status Pending 883-char remark

   Show marketing remark (883 chars)

   MLS# 21128376 - Built by NHC - Ready Now! ~ Model 1804 A1 - Monroe The Monroe Plan from our Liberty Series combines thoughtful design and everyday functionality, offering 4 bedrooms, 2 bathrooms, a 2-car garage, and 1,804 square feet of well-planned living space. This single-story home features a split-bedroom layout for added privacy. At the front of the home, you’ll find three secondary bedrooms, a full bathroom, and a conveniently located laundry room. A versatile flex room near the main living area offers the perfect space for a home office, playroom, or sitting area. The bright and open kitchen is the heart of the Monroe Plan, complete with an island and a clear view of the dining area and spacious family room. The primary suite is tucked away on the opposite side of the home, offering a private retreat with a walk-in closet and an en suite bathroom.

4. 2026-03-11
   price $236,990 883-char remark

   Show marketing remark (883 chars)

   MLS# 21128376 - Built by NHC - Ready Now! ~ Model 1804 A1 - Monroe The Monroe Plan from our Liberty Series combines thoughtful design and everyday functionality, offering 4 bedrooms, 2 bathrooms, a 2-car garage, and 1,804 square feet of well-planned living space. This single-story home features a split-bedroom layout for added privacy. At the front of the home, you’ll find three secondary bedrooms, a full bathroom, and a conveniently located laundry room. A versatile flex room near the main living area offers the perfect space for a home office, playroom, or sitting area. The bright and open kitchen is the heart of the Monroe Plan, complete with an island and a clear view of the dining area and spacious family room. The primary suite is tucked away on the opposite side of the home, offering a private retreat with a walk-in closet and an en suite bathroom.

5. 2026-03-06
   price $250,990 883-char remark

   Show marketing remark (883 chars)

   MLS# 21128376 - Built by NHC - Ready Now! ~ Model 1804 A1 - Monroe The Monroe Plan from our Liberty Series combines thoughtful design and everyday functionality, offering 4 bedrooms, 2 bathrooms, a 2-car garage, and 1,804 square feet of well-planned living space. This single-story home features a split-bedroom layout for added privacy. At the front of the home, you’ll find three secondary bedrooms, a full bathroom, and a conveniently located laundry room. A versatile flex room near the main living area offers the perfect space for a home office, playroom, or sitting area. The bright and open kitchen is the heart of the Monroe Plan, complete with an island and a clear view of the dining area and spacious family room. The primary suite is tucked away on the opposite side of the home, offering a private retreat with a walk-in closet and an en suite bathroom.

6. 2026-03-04
   price $274,990 883-char remark

   Show marketing remark (883 chars)

   MLS# 21128376 - Built by NHC - Ready Now! ~ Model 1804 A1 - Monroe The Monroe Plan from our Liberty Series combines thoughtful design and everyday functionality, offering 4 bedrooms, 2 bathrooms, a 2-car garage, and 1,804 square feet of well-planned living space. This single-story home features a split-bedroom layout for added privacy. At the front of the home, you’ll find three secondary bedrooms, a full bathroom, and a conveniently located laundry room. A versatile flex room near the main living area offers the perfect space for a home office, playroom, or sitting area. The bright and open kitchen is the heart of the Monroe Plan, complete with an island and a clear view of the dining area and spacious family room. The primary suite is tucked away on the opposite side of the home, offering a private retreat with a walk-in closet and an en suite bathroom.

7. 2026-02-27
   price $253,990 883-char remark

   Show marketing remark (883 chars)

   MLS# 21128376 - Built by NHC - Ready Now! ~ Model 1804 A1 - Monroe The Monroe Plan from our Liberty Series combines thoughtful design and everyday functionality, offering 4 bedrooms, 2 bathrooms, a 2-car garage, and 1,804 square feet of well-planned living space. This single-story home features a split-bedroom layout for added privacy. At the front of the home, you’ll find three secondary bedrooms, a full bathroom, and a conveniently located laundry room. A versatile flex room near the main living area offers the perfect space for a home office, playroom, or sitting area. The bright and open kitchen is the heart of the Monroe Plan, complete with an island and a clear view of the dining area and spacious family room. The primary suite is tucked away on the opposite side of the home, offering a private retreat with a walk-in closet and an en suite bathroom.

8. 2026-02-11
   price $274,990 883-char remark

   Show marketing remark (883 chars)

   MLS# 21128376 - Built by NHC - Ready Now! ~ Model 1804 A1 - Monroe The Monroe Plan from our Liberty Series combines thoughtful design and everyday functionality, offering 4 bedrooms, 2 bathrooms, a 2-car garage, and 1,804 square feet of well-planned living space. This single-story home features a split-bedroom layout for added privacy. At the front of the home, you’ll find three secondary bedrooms, a full bathroom, and a conveniently located laundry room. A versatile flex room near the main living area offers the perfect space for a home office, playroom, or sitting area. The bright and open kitchen is the heart of the Monroe Plan, complete with an island and a clear view of the dining area and spacious family room. The primary suite is tucked away on the opposite side of the home, offering a private retreat with a walk-in closet and an en suite bathroom.

9. 2026-01-19
   price $276,990 883-char remark

   Show marketing remark (883 chars)

   MLS# 21128376 - Built by NHC - Ready Now! ~ Model 1804 A1 - Monroe The Monroe Plan from our Liberty Series combines thoughtful design and everyday functionality, offering 4 bedrooms, 2 bathrooms, a 2-car garage, and 1,804 square feet of well-planned living space. This single-story home features a split-bedroom layout for added privacy. At the front of the home, you’ll find three secondary bedrooms, a full bathroom, and a conveniently located laundry room. A versatile flex room near the main living area offers the perfect space for a home office, playroom, or sitting area. The bright and open kitchen is the heart of the Monroe Plan, complete with an island and a clear view of the dining area and spacious family room. The primary suite is tucked away on the opposite side of the home, offering a private retreat with a walk-in closet and an en suite bathroom.

10. 2025-12-08
    listed $277,766 Active 883-char remark

    Show marketing remark (883 chars)

    MLS# 21128376 - Built by NHC - Ready Now! ~ Model 1804 A1 - Monroe The Monroe Plan from our Liberty Series combines thoughtful design and everyday functionality, offering 4 bedrooms, 2 bathrooms, a 2-car garage, and 1,804 square feet of well-planned living space. This single-story home features a split-bedroom layout for added privacy. At the front of the home, you’ll find three secondary bedrooms, a full bathroom, and a conveniently located laundry room. A versatile flex room near the main living area offers the perfect space for a home office, playroom, or sitting area. The bright and open kitchen is the heart of the Monroe Plan, complete with an island and a clear view of the dining area and spacious family room. The primary suite is tucked away on the opposite side of the home, offering a private retreat with a walk-in closet and an en suite bathroom.

ⓘ 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: $1,336 · $111/mo
• Projected year-2 tax: $4,337 · $361/mo
• Expected delta: +$3,001/yr (+$250/mo · 224.7%)

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

Taxation est. · year 1

• Rental income: $27,646
• − Mortgage interest: −$13,275
• − Property taxes: −$1,336
• − Insurance: −$1,185
• − Repairs & maintenance: −$2,212
• − Management: −$2,212
• − HOA: −$480
• − Depreciation: −$6,894
• Taxable income: $53
• Est. tax owed @ 24.0%: −$13
• After-tax cash flow: $3,914/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
• City population: 29,538
• Population (ZIP): 18,697

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: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 28% Two or more races 12% Black 3%
• Hispanic origin (detail): Mexican 23% Puerto Rican 3%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 77% English-only · Spanish 22% Vietnamese 0%

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: ▼ -59.43%
• Current HPI: 277.598
• Rent YoY: —
• Metro: —
• 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

-14.7% since first listed

10 events — show timeline

• 2026-05-18 Pending — NTREIS
• 2026-05-15 Relisted — NTREIS
• 2026-04-20 Pending — NTREIS
• 2026-03-11 Price Changed $236,990 NTREIS
• 2026-03-06 Price Changed $250,990 NTREIS
• 2026-03-04 Price Changed $274,990 NTREIS
• 2026-02-27 Price Changed $253,990 NTREIS
• 2026-02-11 Price Changed $274,990 NTREIS
• 2026-01-19 Price Changed $276,990 NTREIS
• 2025-12-08 Listed $277,766 NTREIS

Property tax history

+1.5%/yr

Latest (2025): $1,336 · +1.5% YoY. Source: county tax records.