497 Rd 5603 · Cleveland, TX 77327

$115,000

3 bd · 2.0 ba · 1,568 sqft · Manufactured · 165 Days on market

Manufactured home Built 1995 Average condition 10,018 sqft lot $73/sqft · 22% below area Est $147k · 22% under $10/mo HOA · 1% of rent ↓ 32% since listing

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• Rent growth +3.5/5.0
• Schools +3.2/10.0
• Livability +3.1/5.0
• Condition / age +2.8/5.0
• Appreciation +2.5/10.0
• Manufactured-home adj. -6.2

Listing remarks MLS

Welcome to 497 Road 5603, Cleveland, TX, a great opportunity in a growing area. This property offers privacy, outdoor space, and convenient access to major roads and everyday essentials. Perfect as a primary residence or investment. Schedule your showing today.

Key facts

• 0.23 acre lot
• Built 1995
• Listed 164 days

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $115k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $443 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.9% vs local median 5.0% 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: crime D-, amenities F, commute 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.
• Zoned schools: Northside El (math 33% / reading 31%, grade F, #2,268 of 4,322 statewide, top 55%, 1,235 students, 90% FRL); Cleveland Middle (math 22% / reading 25%, grade F, #1,317 of 1,662 statewide, top 80%, 1,696 students, 98% FRL); Cleveland H S (math 30% / reading 32%, grade F, #1,077 of 1,632 statewide, top 66%, 3,310 students, 92% FRL) — zoned schools average 93% FRL vs 71% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.0%/yr); 1804 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,321 units permitted in Liberty County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k 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 $32k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 165 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Climate carrying-cost: 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 $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 165 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. 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: 1.29% ✓
• Cap rate: 10.91%
• Cash-on-cash: 16.51%
• DSCR: 1.73
• GRM: 6.5

CMA / ARV

• ARV (median comp): $147,386
• List price: $115,000
• Delta: -21.97%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
588 Road 5705	1.00mi	2/2.0 (-1)	1,575 (+0%)	1mo	$140,000	$89	59
673 Maria Elena Way	0.51mi	3/2.0	1,411 (-10%)	2mo	$180,991	$128	58
1023 Road 5606	0.47mi	3/2.0	1,200 (-24%)	2mo	$199,000	$166	51
365 Lucia Way	0.50mi	3/2.0	1,208 (-23%)	1mo	$174,990	$145	50
338 Lucia Way	0.53mi	3/2.0	1,208 (-23%)	0mo	$168,990	$140	50
378 Lucia Way	0.50mi	3/2.0	1,208 (-23%)	3mo	$174,990	$145	49
234 Road 590108	0.72mi	3/2.5	1,417 (-10%)	0mo	$166,990	$118	48
370 Lucia Way	0.57mi	3/2.0	1,192 (-24%)	0mo	$163,990	$138	48
705 Road 5812	1.00mi	3/2.0	1,350 (-14%)	1mo	$172,000	$127	41
338 Road 5840 Rd	0.93mi	3/2.0	1,350 (-14%)	2mo	$172,000	$127	40
500 Road 5822	0.79mi	3/2.0	1,193 (-24%)	0mo	$168,500	$141	40
6076 Road 3550	1.18mi	2/2.0 (-1)	1,271 (-19%)	0mo	$115,000	$90	35

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 · 4.0% rent growth · sell at horizon

5-year hold

• IRR: 8.7%
• Equity multiple: 1.34×
• Total profit: $11,061
• Equity at exit: $17,147

10-year hold

• IRR: 18.6%
• Equity multiple: 2.62×
• Total profit: $52,187
• Equity at exit: $9,943

Cash invested: $32,200 (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 →

Active competition Active MLS

• For sale now: 9 active
• Median asking: $159,900 ($120/sqft)
• Median days on market: 87 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -21.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77327

• Home prices YoY: -5.2%
• Rents YoY: 4.0%
• Active inventory: 1804
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,482 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$48
• HOA: −$10
• Lot rent leased land?: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $443

Break-even live

Break-even rent $921

Max offer price $115,000

Occupancy floor 65%

Sensitivity live

Price	-10% $508	-5% $475	+0% $443	+5% $410	+10% $378
Rent	-10% $326	-5% $384	+0% $443	+5% $501	+10% $560
Rate	-1.0pp $501	-0.5pp $472	base $443	+0.5pp $413	+1.0pp $383

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: $28,750
• Closing costs: $3,450
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
707 Road 5819 Unit NA Cleveland, TX	3.0	2.0	1300	$1,700	$1.31	0d	1	0.33mi
662 Road 590110 Cleveland, TX	4.0	2.0	1600	$1,900	$1.19	25d	1	0.67mi

Listing history 50 events

1. 2026-08-08
   days on market $115,000 Active 165 DOM
2. 2026-08-06
   days on market $115,000 Active 163 DOM
3. 2026-08-05
   days on market $115,000 Active 162 DOM
4. 2026-08-04
   days on market $115,000 Active 161 DOM
5. 2026-08-03
   days on market $115,000 Active 160 DOM
6. 2026-07-31
   days on market $115,000 Active 157 DOM
7. 2026-07-30
   days on market $115,000 Active 156 DOM
8. 2026-07-30
   days on market $115,000 Active 155 DOM
9. 2026-07-28
   days on market $115,000 Active 154 DOM
10. 2026-07-26
    days on market $115,000 Active 152 DOM
11. 2026-07-24
    days on market $115,000 Active 150 DOM
12. 2026-07-23
    days on market $115,000 Active 149 DOM
13. 2026-07-22
    days on market $115,000 Active 148 DOM
14. 2026-07-21
    days on market $115,000 Active 147 DOM
15. 2026-07-20
    days on market $115,000 Active 146 DOM
16. 2026-07-18
    days on market $115,000 Active 144 DOM
17. 2026-07-18
    days on market $115,000 Active 143 DOM
18. 2026-07-16
    days on market $115,000 Active 142 DOM
19. 2026-07-15
    days on market $115,000 Active 141 DOM
20. 2026-07-14
    days on market $115,000 Active 140 DOM
21. 2026-07-13
    days on market $115,000 Active 139 DOM
22. 2026-07-13
    days on market $115,000 Active 138 DOM
23. 2026-07-11
    days on market $115,000 Active 137 DOM
24. 2026-07-10
    days on market $115,000 Active 136 DOM
25. 2026-07-09
    days on market $115,000 Active 135 DOM
26. 2026-07-07
    days on market $115,000 Active 133 DOM
27. 2026-07-06
    days on market $115,000 Active 132 DOM
28. 2026-07-06
    days on market $115,000 Active 131 DOM
29. 2026-07-05
    days on market $115,000 Active 130 DOM
30. 2026-07-03
    days on market $115,000 Active 129 DOM
31. 2026-07-02
    days on market $115,000 Active 128 DOM
32. 2026-07-01
    days on market $115,000 Active 127 DOM
33. 2026-06-30
    days on market $115,000 Active 126 DOM
34. 2026-06-29
    days on market $115,000 Active 125 DOM
35. 2026-06-28
    days on market $115,000 Active 124 DOM
36. 2026-06-27
    days on market $115,000 Active 123 DOM
37. 2026-06-24
    days on market $115,000 Active 120 DOM
38. 2026-06-22
    days on market $115,000 Active 118 DOM
39. 2026-06-21
    days on market $115,000 Active 117 DOM
40. 2026-06-18
    days on market $115,000 Active 114 DOM
41. 2026-06-17
    days on market $115,000 Active 113 DOM
42. 2026-06-16
    days on market $115,000 Active 112 DOM
43. 2026-06-15
    days on market $115,000 Active 111 DOM
44. 2026-06-13
    days on market $115,000 Active 109 DOM
45. 2026-06-09
    days on market $115,000 Active 105 DOM
46. 2026-06-08
    days on market $115,000 Active 104 DOM
47. 2026-06-07
    days on market $115,000 Active 103 DOM
48. 2026-06-04
    days on market $115,000 Active 100 DOM
49. 2026-06-03
    days on market $115,000 Active 99 DOM
50. 2026-06-02
    days on market $115,000 Active 98 DOM

ⓘ 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: $804 · $67/mo
• Projected year-2 tax: $2,104 · $175/mo
• Expected delta: +$1,301/yr (+$108/mo · 161.9%)

ⓘ 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 2/10 Low
• 🌡 Heat 8/10 Severe 7 d/yr ≥112°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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,785
• − Mortgage interest: −$6,442
• − Property taxes: −$804
• − Insurance: −$575
• − Repairs & maintenance: −$1,423
• − Management: −$1,423
• − HOA: −$120
• − Depreciation: −$3,345
• Taxable income: $3,654
• Est. tax owed @ 24.0%: −$877
• After-tax cash flow: $4,438/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 · 12 photos

Average 55/100 Cosmetic rehab Est. rehab $7,840–$23,520 screening

This manufactured home offers a good starting point with cosmetic updates that can significantly enhance its curb appeal and value.

Repairs flagged

• Minor exterior siding — Slight discoloration
• Minor exterior trim — Slight wear

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace exterior trim — Improves home's appearance and value ↑
• Both Replace kitchen appliances — Modernizes the space and adds value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 32/100

Zoned Schools

Elementary Northside El F TX #2,268/4,322 Nat'l #24,950/41,679 Middle Santa Fe Middle High Cleveland H S F TX #1,077/1,632 Nat'l #10,806/17,239

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

C Composite livability gradescore 61/100

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 · 87,956 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: 11% of renters

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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%

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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%

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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

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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

-32.4% since first listed

8 events — show timeline

• 2026-04-03 Price Changed $115,000 HARMLS
• 2026-02-24 Listed $120,000 HARMLS
• 2025-12-03 Listing Removed — HARMLS
• 2025-09-03 Price Changed $140,000 HARMLS
• 2025-07-01 Price Changed $150,000 HARMLS
• 2025-06-08 Listed $170,000 HARMLS
• 2024-06-24 Sold (Public Records) — Public Records
• 2023-02-21 Sold (Public Records) — Public Records

Property tax history

+3.4%/yr

Latest (2025): $804 · +5.7% YoY. Source: county tax records.