305 S Wood St · Cleburne, TX 76033

$139,900

2 bd · 1.0 ba · 932 sqft · SingleFamily public records · 90 Days on market

Built 1910 7,013 sqft lot $150/sqft · 26% below area Est $190k · 26% under

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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 +17.0/30.0
• ARV discount +15.0/15.0
• DSCR +5.3/10.0
• 1% rule +4.6/10.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

So many options. Full of possibilities and packed with potential, this 2-bedroom, 1-bath, 1 car carport home in Cleburne can be yours. Whether you’re looking for your 1st home, wanting to down size or build your investor portfolio. This home is ready for a new owner to add their personal touch and restore its full sparkle. Home features a large kitchen. Utility room for full washer and dryer. Nice fenced backyard. Conveniently located near schools, parks, shopping, and downtown amenities. Home is occupied by long time tenant. Home can also be packaged with 5 other homes that are offered for sale as well. All MLS# for properties offer for sale 21206881, 21211282, 21211302, 21214411. 21214430 and 21214445. Home and property are being sold “as-is” “where-is”.

Key facts

• Near schools
• Near shopping
• Large kitchen

Tags

• LARGE KITCHEN
• FENCED BACKYARD
• NEAR SCHOOLS
• NEAR PARKS
• NEAR SHOPPING
• NEAR DOWNTOWN AMENITIES

🏷️ Possibly a rental listed for sale. The $139,900 price doesn't fit this home's estimated sale value (~$190,308) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/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 $134k (4.1% below list).
• Recommended offer: $132k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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-, schools F, amenities 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.
• Market conditions: Rents soft (-0.8%/yr); 660 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $967 of loan paydown is wiped out by about $4k 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 90 days — a 6% lower offer ($132k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $131,506 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 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 1910 — 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. 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: 0.96% ✗
• Cap rate: 7.11%
• Cash-on-cash: 2.93%
• DSCR: 1.13
• GRM: 8.7

CMA / ARV

• ARV (median comp): $190,308
• List price: $139,900
• Delta: -26.49%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
603 W 2nd St	0.44mi	2/1.0	1,016 (+9%)	7mo	$169,900	$167	59
405 E Willingham St	0.63mi	2/1.0	910 (-2%)	11mo	$118,000	$130	58
1104 Prairie Ave	0.67mi	2/1.0	952 (+2%)	9mo	$178,000	$187	58
607 N Buffalo	0.55mi	2/1.0	965 (+4%)	13mo	$100,000	$104	58
905 Hodge St	0.56mi	2/1.0	912 (-2%)	21mo	$196,000	$215	53
101 S Pendell Ave	0.49mi	2/1.0	1,040 (+12%)	6mo	$199,500	$192	53
206 N Holloway St	0.56mi	3/1.5 (+1)	1,002 (+8%)	3mo	$200,000	$200	52
517 Featherston St	0.31mi	3/2.0 (+1)	1,047 (+12%)	7mo	$199,000	$190	50
105 Circle Dr	0.59mi	2/1.0	832 (-11%)	10mo	$134,900	$162	46
602 W 2nd St	0.43mi	2/1.0	1,067 (+14%)	16mo	$210,000	$197	43
205 N Wood St	0.60mi	2/1.0	871 (-6%)	23mo	$99,900	$115	42
205 Heath St	0.73mi	3/1.0 (+1)	1,051 (+13%)	14mo	$158,500	$151	28

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: -15.1%
• Equity multiple: 0.48×
• Total profit: $-20,491
• Equity at exit: $20,860

10-year hold

• IRR: -12.6%
• Equity multiple: 0.36×
• Total profit: $-25,120
• Equity at exit: $12,096

Cash invested: $39,172 (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: 8.7×

Monthly cashflow live

• Estimated rent: $1,342 high
• Mortgage (P&I): −$734
• Tax from tax record: −$173 /mo · $2,071/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $96

Break-even live

Break-even rent $1,221

Max offer price $139,900

Occupancy floor 88%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
204 W Westhill Dr Cleburne, TX	3.0	2.0	1040	$1,950	$1.88	43d	1	0.20mi
204 S Caddo St Cleburne, TX	1.0	1.0	650	$1,000	$1.54	24d	1	0.28mi
201 E Chambers St Unit 203 Cleburne, TX	1.0	1.0	1022	$1,525	$1.49	2d	1	0.39mi
305 N Robinson St Cleburne, TX	1.0	1.0	574	$849	$1.48	10d	1	0.53mi
305 N Robinson St Unit C, Upstairs Right Cleburne, TX	1.0	1.0	574	$799	$1.39	3d	1	0.53mi
112 W Wilson St Cleburne, TX	2.0	1.0	1002	$1,400	$1.40	43d	1	0.59mi
909 W Wardville St Cleburne, TX	2.0	1.0	847	$1,350	$1.59	43d	1	0.60mi
907 Hodge St Cleburne, TX	2.0	1.0	912	$1,450	$1.59	2d	1	0.61mi
823 College St Cleburne, TX	2.0	1.0	944	$1,550	$1.64	16d	1	0.66mi
823 College St Cleburne, TX	2.0	1.0	944	$1,550	$1.64	6d	1	0.66mi
431 N Wilhite St Unit 431 Cleburne, TX	2.0	1.0	750	$1,195	$1.59	19d	1	0.71mi
203 Willana Ct Cleburne, TX	3.0	2.0	1100	$1,700	$1.55	20d	1	0.79mi
601 Royal St Cleburne, TX	2.0	1.0	720	$1,325	$1.84	43d	1	1.01mi
601 Royal St Cleburne, TX	2.0	1.0	720	$1,300	$1.81	7d	1	1.01mi
601 Royal St Cleburne, TX	2.0	1.0	720	$1,375	$1.91	2d	1	1.01mi
1106 Williams Ave Unit D Cleburne, TX	2.0	1.0	900	$900	$1.00	24d	1	1.06mi
1108 Williams Ave Unit H Cleburne, TX	2.0	1.0	900	$900	$1.00	24d	1	1.07mi
1110 Williams Ave Unit C Cleburne, TX	2.0	1.0	900	$900	$1.00	43d	1	1.09mi
901 N Border St Unit A Cleburne, TX	2.0	1.0	900	$950	$1.06	43d	1	1.12mi
1308 N Brazos Ave Cleburne, TX	3.0	2.0	1028	$1,595	$1.55	24d	1	1.17mi
1312 Ridge Run St Cleburne, TX	1.0	1.0	661	$1,122	$1.70	43d	1	1.19mi
1312 Ridge Run St Unit A Cleburne, TX	2.0	2.0	992	$1,250	$1.26	24d	1	1.19mi
815 Woodard Ave Cleburne, TX	1.0–2.0	1.0–2.0	793	$1,335	$1.68	1d	8	1.25mi
1302 Berry Dr Unit A Cleburne, TX	2.0	1.0	861	$1,400	$1.63	43d	1	1.27mi
1304 Berry Dr Cleburne, TX	2.0	1.0	900	$1,200	$1.33	20d	1	1.28mi
101 Westcourt Dr Cleburne, TX	2.0	1.5	980	$1,565	$1.60	43d	1	1.29mi
1211 Country Club Rd Cleburne, TX	2.0	1.0	994	$1,395	$1.40	24d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $139,900 Active 90 DOM
2. 2026-06-17
   days on market $139,900 Active 89 DOM
3. 2026-06-16
   days on market $139,900 Active 88 DOM
4. 2026-06-15
   days on market $139,900 Active 87 DOM
5. 2026-06-13
   days on market $139,900 Active 85 DOM
6. 2026-06-09
   days on market $139,900 Active 81 DOM
7. 2026-06-08
   days on market $139,900 Active 80 DOM
8. 2026-06-07
   days on market $139,900 Active 79 DOM
9. 2026-06-04
   days on market $139,900 Active 76 DOM
10. 2026-06-03
    pricedays on market $139,900 Active 75 DOM
11. 2026-06-02
    days on market $150,000 Active 74 DOM
12. 2026-06-01
    days on market $150,000 Active 73 DOM
13. 2026-05-31
    days on market $150,000 Active 72 DOM
14. 2026-03-20
    listed $150,000 Active 798-char remark

    Show marketing remark (798 chars)

    So many options. Full of possibilities and packed with potential, this 2-bedroom, 1-bath, 1 car carport home in Cleburne can be yours. Whether you’re looking for your 1st home, wanting to down size or build your investor portfolio. This home is ready for a new owner to add their personal touch and restore its full sparkle. Home features a large kitchen. Utility room for full washer and dryer. Nice fenced backyard. Conveniently located near schools, parks, shopping, and downtown amenities. Home is occupied by long time tenant. Home can also be packaged with 5 other homes that are offered for sale as well. All MLS# for properties offer for sale 21206881, 21211282, 21211302, 21214411. 21214430 and 21214445. Home and property are being sold “as-is” “where-is”.

15. 2006-01-30
    soldstatus
16. 1997-07-23
    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: $2,071 · $173/mo
• Projected year-2 tax: $2,560 · $213/mo
• Expected delta: +$490/yr (+$41/mo · 23.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 5/10 Major
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 24 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: $16,104
• − Mortgage interest: −$7,837
• − Property taxes: −$2,071
• − Insurance: −$700
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$4,070
• Taxable loss: −$1,149
• Est. tax savings @ 24.0%: +$276
• After-tax cash flow: $1,424/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

3 events — show timeline

• 2026-03-20 Listed $150,000 NTREIS
• 2006-01-30 Sold (Public Records) — Public Records
• 1997-07-23 Sold (Public Records) — Public Records

Property tax history

+6.2%/yr

Latest (2025): $2,071 · +1.5% YoY. Source: county tax records.