506 Woodard Ave · Cleburne, TX 76033

$225,000

3 bd · 1.0 ba · 3,402 sqft · SingleFamily public records · 41 Days on market

Built 1960 0.57 ac lot $66/sqft · 25% below area Est $309k · 27% under

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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).

• ARV discount +15.0/15.0
• Cash flow +9.6/30.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• DSCR +2.7/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

WOW, This older country charm 3Br. 1Ba. home setting on a super large beautiful corner lot with peacan trees thru out. Enclosed porch, large bedrooms, high ceilings and a little TLC this would make great place to live. Detached garage has a apartment that could be use for rental.

Key facts

• 0.57 acre lot
• Parking
• Built 1960

Property features AI

Finance

• Other: Public records list lot size as about 0.57 acre; No dock or horse permitted
• Financial info: Listing terms: Cash or Conventional; Second mortgage: No
• HOA & community: No association; Listed as a senior community

Exterior

• Parking: Carport (covered, 1 space)
• Security: Security features: Unknown
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; One story; Accessory unit present (approx. 1,200 sq ft); Property is not attached
• Construction: Siding exterior; Pillar/post/pier foundation; Built in 1960
• Exterior features: Corner lot; Large grass backyard; Back yard fencing (chain link); Wrap-around enclosed porch/patio; Guest house; Workshop with electric

Interior

• Kitchen: Electric cooktop; Eat-in kitchen
• Bedrooms: 3 bedrooms (all on main level); Primary bedroom on main level
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom; Primary bathroom with separate shower
• Interior features: Eat-in kitchen; Pantry; One living area; One dining area; Total of 6 rooms
• Laundry & utility: Full-size washer/dryer area

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-151 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $198k (11.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $167k (25.8% below list).
• Recommended offer: $167k (25.8% below list) — sets the bar for 1% rule.
• Cap rate 5.5% 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: Cooke El (math 39% / reading 31%, grade F, #1,965 of 4,322 statewide, top 46%, 630 students, 84% FRL) — zoned schools average 84% FRL vs 56% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents soft (-0.8%/yr); 660 active listings in the ZIP; 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 $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 41 days — a 3% lower offer ($218k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 16y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $166,982 (25.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
3. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.74% ✗
• Cap rate: 5.49%
• Cash-on-cash: -2.87%
• DSCR: 0.87
• GRM: 11.2

CMA / ARV

• ARV (median comp): $309,103
• List price: $225,000
• Delta: -27.21%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
308 W Wilson St	0.69mi	3/2.0	3,176 (-7%)	23mo	$345,000	$109	34

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: -24.3%
• Equity multiple: 0.19×
• Total profit: $-50,985
• Equity at exit: $33,548

10-year hold

• IRR: -30.6%
• Equity multiple: -0.20×
• Total profit: $-75,785
• Equity at exit: $19,454

Cash invested: $63,000 (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: 11.2×

Monthly cashflow live

• Estimated rent: $1,670 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$196 /mo · $2,355/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$351
• Net cashflow: $-151

Break-even live

Break-even rent $1,861

Max offer price $198,361

Occupancy floor —

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-18
   remarks 693-char remark
2. 2026-06-18
   price $225,000 Active 41 DOM
3. 2026-06-18
   days on market $250,000 Active 41 DOM
4. 2026-06-17
   days on market $250,000 Active 40 DOM
5. 2026-06-16
   days on market $250,000 Active 39 DOM
6. 2026-06-15
   days on market $250,000 Active 38 DOM
7. 2026-06-13
   days on market $250,000 Active 36 DOM
8. 2026-06-09
   days on market $250,000 Active 32 DOM
9. 2026-06-08
   days on market $250,000 Active 31 DOM
10. 2026-06-07
    days on market $250,000 Active 30 DOM
11. 2026-06-04
    days on market $250,000 Active 27 DOM
12. 2026-06-03
    days on market $250,000 Active 26 DOM
13. 2026-06-02
    days on market $250,000 Active 25 DOM
14. 2026-06-01
    days on market $250,000 Active 24 DOM
15. 2026-05-31
    days on market $250,000 Active 23 DOM
16. 2026-05-08
    listed $250,000 Active 553-char remark
17. 2011-12-08
    soldstatus
18. 2011-12-05
    soldstatus Closed 280-char remark

    Show marketing remark (280 chars)

    WOW, This older country charm 3Br. 1Ba. home setting on a super large beautiful corner lot with peacan trees thru out. Enclosed porch, large bedrooms, high ceilings and a little TLC this would make great place to live. Detached garage has a apartment that could be use for rental.

19. 2011-11-12
    status Pending 280-char remark

    Show marketing remark (280 chars)

    WOW, This older country charm 3Br. 1Ba. home setting on a super large beautiful corner lot with peacan trees thru out. Enclosed porch, large bedrooms, high ceilings and a little TLC this would make great place to live. Detached garage has a apartment that could be use for rental.

20. 2011-08-22
    price $40,000 280-char remark

    Show marketing remark (280 chars)

    WOW, This older country charm 3Br. 1Ba. home setting on a super large beautiful corner lot with peacan trees thru out. Enclosed porch, large bedrooms, high ceilings and a little TLC this would make great place to live. Detached garage has a apartment that could be use for rental.

21. 2011-06-28
    listed $47,500 Active 280-char remark

    Show marketing remark (280 chars)

    WOW, This older country charm 3Br. 1Ba. home setting on a super large beautiful corner lot with peacan trees thru out. Enclosed porch, large bedrooms, high ceilings and a little TLC this would make great place to live. Detached garage has a apartment that could be use for rental.

22. 2011-06-18
    historical
23. 2011-05-09
    price $59,000
24. 2011-02-08
    price $68,000
25. 2010-12-15
    listed $74,000 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: $2,355 · $196/mo
• Projected year-2 tax: $4,118 · $343/mo
• Expected delta: +$1,762/yr (+$147/mo · 74.8%)

ⓘ 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 · 22 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: $20,038
• − Mortgage interest: −$12,603
• − Property taxes: −$2,355
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,603
• − Management: −$1,603
• − Depreciation: −$6,545
• Taxable loss: −$5,798
• Est. tax savings @ 24.0%: +$1,391
• After-tax cash flow: $-418/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

+237.8% since first listed

10 events — show timeline

• 2026-05-08 Listed $250,000 NTREIS
• 2011-12-08 Sold (Public Records) — Public Records
• 2011-12-05 Sold (MLS) — NTREIS
• 2011-11-12 Pending — NTREIS
• 2011-08-22 Price Changed $40,000 NTREIS
• 2011-06-28 Listed $47,500 NTREIS
• 2011-06-18 Listing Removed — NTREIS
• 2011-05-09 Price Changed $59,000 NTREIS
• 2011-02-08 Price Changed $68,000 NTREIS
• 2010-12-15 Listed $74,000 NTREIS

Property tax history

+1.7%/yr

Latest (2025): $2,355 · +11.7% YoY. Source: county tax records.