121 Elendor Dr · Cleveland, TX 77328

$170,000

3 bd · 7.0 ba · 1,216 sqft · SingleFamily public records · 101 Days on market

Built 2000 1.50 ac lot $140/sqft · 12% below area Est $193k · 12% under ↓ 26% 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 +21.6/30.0
• ARV discount +12.9/15.0
• DSCR +6.9/10.0
• 1% rule +5.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bedroom, 2-bath home offers plenty of space and opportunity for the right buyer. While the home needs some TLC, it sits on 1.5 acres, providing incredible potential to customize, expand, or even build additional structures. Whether you’re looking for a starter home with land, an investment project, or room to create your dream property, this home is full of possibilities.

Key facts

• Investment project
• 1.5 acres
• Room to create

Tags

• 1.5 ACRES
• BUILD ADDITIONAL STRUCTURES
• INVESTMENT PROJECT
• ROOM TO CREATE

What this means for you Summary

Snapshot

• This is a 3-bed/7.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $155k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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; 575 units permitted in San Jacinto County in 2024 (0 in 5+ unit buildings).
• This rent runs 34% 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.
• San Jacinto County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 101 days — a 9% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: flood insurance adds $125/mo.
• Climate carrying-cost: in FEMA flood zone A (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $154,700 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% 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. 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. 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: 1.03% ✓
• Cap rate: 8.12%
• Cash-on-cash: 6.53%
• DSCR: 1.29
• GRM: 8.1

CMA / ARV

• ARV (median comp): $193,228
• List price: $170,000
• Delta: -12.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
941 Devin Rd	0.49mi	3/2.0	1,266 (+4%)	4mo	$180,000	$142	47
1201 Trails End Dr	0.33mi	3/2.0	1,296 (+7%)	14mo	$250,000	$193	42

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: -10.9%
• Equity multiple: 0.60×
• Total profit: $-18,945
• Equity at exit: $25,348

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-5,226
• Equity at exit: $14,698

Cash invested: $47,600 (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 77328

• Home prices YoY: -7.7%
• Active inventory: 336
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,746 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$158 /mo · $1,891/yr
• Insurance: −$71
• Flood insurance flood zone: −$125 /mo · $1,502/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$367
• Net cashflow: $134

Break-even live

Break-even rent $1,576

Max offer price $170,000

Occupancy floor 87%

Sensitivity live

Price	-10% $230	-5% $182	+0% $134	+5% $86	+10% $38
Rent	-10% $-4	-5% $65	+0% $134	+5% $203	+10% $272
Rate	-1.0pp $220	-0.5pp $177	base $134	+0.5pp $90	+1.0pp $45

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   days on market $170,000 Active 101 DOM
2. 2026-06-17
   days on market $170,000 Active 100 DOM
3. 2026-06-16
   days on market $170,000 Active 99 DOM
4. 2026-06-15
   days on market $170,000 Active 98 DOM
5. 2026-06-13
   days on market $170,000 Active 96 DOM
6. 2026-06-09
   days on market $170,000 Active 92 DOM
7. 2026-06-08
   days on market $170,000 Active 91 DOM
8. 2026-06-07
   days on market $170,000 Active 90 DOM
9. 2026-06-04
   days on market $170,000 Active 87 DOM
10. 2026-06-03
    days on market $170,000 Active 86 DOM
11. 2026-06-02
    days on market $170,000 Active 85 DOM
12. 2026-06-01
    days on market $170,000 Active 84 DOM
13. 2026-05-31
    days on market $170,000 Active 83 DOM
14. 2026-04-07
    price $170,000 387-char remark

    Show marketing remark (387 chars)

    This 3-bedroom, 2-bath home offers plenty of space and opportunity for the right buyer. While the home needs some TLC, it sits on 1.5 acres, providing incredible potential to customize, expand, or even build additional structures. Whether you’re looking for a starter home with land, an investment project, or room to create your dream property, this home is full of possibilities.

15. 2026-03-30
    price $175,000 387-char remark

    Show marketing remark (387 chars)

    This 3-bedroom, 2-bath home offers plenty of space and opportunity for the right buyer. While the home needs some TLC, it sits on 1.5 acres, providing incredible potential to customize, expand, or even build additional structures. Whether you’re looking for a starter home with land, an investment project, or room to create your dream property, this home is full of possibilities.

16. 2026-03-09
    listed $179,990 Active 387-char remark

    Show marketing remark (387 chars)

    This 3-bedroom, 2-bath home offers plenty of space and opportunity for the right buyer. While the home needs some TLC, it sits on 1.5 acres, providing incredible potential to customize, expand, or even build additional structures. Whether you’re looking for a starter home with land, an investment project, or room to create your dream property, this home is full of possibilities.

17. 2026-03-09
    historical

    Show marketing remark (387 chars)

    This 3-bedroom, 2-bath home offers plenty of space and opportunity for the right buyer. While the home needs some TLC, it sits on 1.5 acres, providing incredible potential to customize, expand, or even build additional structures. Whether you’re looking for a starter home with land, an investment project, or room to create your dream property, this home is full of possibilities.

18. 2026-01-22
    price $190,000
19. 2025-11-04
    listed $200,000 Active
20. 2025-11-04
    historical
21. 2025-11-01
    price $200,000
22. 2025-10-07
    price $205,000
23. 2025-09-09
    price $220,000
24. 2025-08-25
    listed $229,000 Active
25. 2007-09-01
    soldstatus

ⓘ 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: $1,891 · $158/mo
• Projected year-2 tax: $3,111 · $259/mo
• Expected delta: +$1,220/yr (+$102/mo · 64.5%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone A · 74% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°F today · 23 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,948
• − Mortgage interest: −$9,523
• − Property taxes: −$1,891
• − Insurance: −$2,352
• − Repairs & maintenance: −$1,676
• − Management: −$1,676
• − Depreciation: −$4,945
• Taxable loss: −$1,115
• Est. tax savings @ 24.0%: +$268
• After-tax cash flow: $1,875/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

• 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 (San Jacinto County) Hauer SSP2

• Today (2025): 29,069 people
• By 2030: 29,750 · +2.3%
• By 2040: 30,714 · +5.7%
• By 2050: 31,010 · +6.7%
• By 2075: 31,616 · +8.8%
• By 2100: 29,874 · +2.8%

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 · San Jacinto

• 2024 margin: Solid R (+65.3) · D 17.0% · R 82.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -38.3pp · 2024: -65.3pp
• All cycles: 2024: R+65.3 2020: R+61.9 2016: R+58.4 2012: R+48.9 2008: R+38.3

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

-25.8% since first listed

12 events — show timeline

• 2026-04-07 Price Changed $170,000 HARMLS
• 2026-03-30 Price Changed $175,000 HARMLS
• 2026-03-09 Listing Removed — HARMLS
• 2026-03-09 Listed $179,990 HARMLS
• 2026-01-22 Price Changed $190,000 HARMLS
• 2025-11-04 Listing Removed — HARMLS
• 2025-11-04 Listed $200,000 HARMLS
• 2025-11-01 Price Changed $200,000 HARMLS
• 2025-10-07 Price Changed $205,000 HARMLS
• 2025-09-09 Price Changed $220,000 HARMLS
• 2025-08-25 Listed $229,000 HARMLS
• 2007-09-01 Sold (Public Records) — Public Records

Property tax history

+12.0%/yr

Latest (2025): $1,891 · -0.7% YoY. Source: county tax records.