412 Dunnam Ave · Cleveland, TX 77327

$115,000

2 bd · 1.0 ba · 724 sqft · SingleFamily public records · 45 Days on market

Built 1955 10,149 sqft lot $159/sqft · 5% above area Est $171k · 33% under ↓ 4% 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 +18.4/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +5.3/10.0
• Rent growth +3.5/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Bring your vision and creativity to this charming home in the heart of Cleveland. Featuring real wood floors that add character and warmth throughout, this property has been recently updated with a 4th bedroom, providing flexible living space for your family or guests. With 4 bedrooms and 1 bathroom, this home offers plenty of potential to transform it into your dream residence. Imagine the possibilities—restore, renovate, and make this classic Cleveland home your own!

Key facts

• 0.23 acre lot
• Built 1955
• Listed 44 days

Property features AI

Finance

• Other: Seller disclosure available
• Financial info: Lease not considered

Exterior

• Parking: Asphalt road access
• Utilities: Public water; Public sewer
• Home design: Residential property; Full ownership
• Construction: Cement siding; Block foundation; Composition roof; Built in 1955
• Exterior features: Fenced backyard; Porch; Private yard; Subdivision setting

Interior

• Kitchen: Electric cooktop; Electric oven
• Bedrooms: Space for 4 bedrooms
• Flooring: Wood flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Central electric heating; Window air conditioning units
• Interior features: Kitchen and family room combined; Tub with shower
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $108 ($1k/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: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% 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: 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); 1574 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 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.

Negotiation context

• It's been on market 45 days — a 3% lower offer ($112k) 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

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.03% ✓
• Cap rate: 7.42%
• Cash-on-cash: 4.04%
• DSCR: 1.18
• GRM: 8.1

CMA / ARV

• ARV (median comp): $170,990
• List price: $115,000
• Delta: -32.74%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
408 Love Ave	0.07mi	2/1.0	819 (+13%)	11mo	$150,000	$183	65

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: -8.8%
• Equity multiple: 0.67×
• Total profit: $-10,485
• Equity at exit: $17,147

10-year hold

• IRR: 2.1%
• Equity multiple: 1.15×
• Total profit: $4,972
• 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 →

ZIP-level market 77327

• Home prices YoY: -5.2%
• Rents YoY: 4.0%
• Active inventory: 1574
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,187 medium
• Mortgage (P&I): −$603
• Tax from tax record: −$179 /mo · $2,143/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$249
• Net cashflow: $108

Break-even live

Break-even rent $1,050

Max offer price $115,000

Occupancy floor 86%

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
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
808 Denison Ave Unit 5 Cleveland, TX	1.0	1.0	640	$850	$1.33	12d	1	1.04mi
808 Denison Ave Unit 5 Cleveland, TX	1.0	1.0	640	$800	$1.25	7d	1	1.04mi
307 Sleepy Hollow Dr Cleveland, TX	1.0–2.0	1.0–2.0	738	$1,440	$1.95	1d	4	1.44mi

Listing history 21 events

1. 2026-06-18
   days on market $115,000 Active 45 DOM
2. 2026-06-17
   days on market $115,000 Active 44 DOM
3. 2026-06-16
   days on market $115,000 Active 43 DOM
4. 2026-06-15
   days on market $115,000 Active 42 DOM
5. 2026-06-13
   days on market $115,000 Active 40 DOM
6. 2026-06-09
   days on market $115,000 Active 36 DOM
7. 2026-06-08
   days on market $115,000 Active 35 DOM
8. 2026-06-07
   days on market $115,000 Active 34 DOM
9. 2026-06-04
   days on market $115,000 Active 31 DOM
10. 2026-06-03
    days on market $115,000 Active 30 DOM
11. 2026-06-02
    days on market $115,000 Active 29 DOM
12. 2026-06-01
    days on market $115,000 Active 28 DOM
13. 2026-05-31
    days on market $115,000 Active 27 DOM
14. 2026-05-04
    listed $115,000 Active 479-char remark
15. 2026-04-30
    historical
16. 2026-01-24
    price $115,000
17. 2025-12-09
    listed $120,000 Active
18. 2021-03-30
    soldstatus
19. 2021-03-04
    soldstatus
20. 2019-11-08
    soldstatus
21. 1993-05-04
    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: $2,143 · $179/mo
• Projected year-2 tax: $2,143 · $179/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 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: $14,247
• − Mortgage interest: −$6,442
• − Property taxes: −$2,143
• − Insurance: −$575
• − Repairs & maintenance: −$1,140
• − Management: −$1,140
• − Depreciation: −$3,345
• Taxable loss: −$537
• Est. tax savings @ 24.0%: +$129
• After-tax cash flow: $1,430/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

• Census place: Cleveland, TX
• County: Liberty County · 82,189 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: 437.0

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%

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%

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

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

-4.2% since first listed

8 events — show timeline

• 2026-05-04 Listed $115,000 HARMLS
• 2026-04-30 Listing Removed — HARMLS
• 2026-01-24 Price Changed $115,000 HARMLS
• 2025-12-09 Listed $120,000 HARMLS
• 2021-03-30 Sold (Public Records) — Public Records
• 2021-03-04 Sold (Public Records) — Public Records
• 2019-11-08 Sold (Public Records) — Public Records
• 1993-05-04 Sold (Public Records) — Public Records

Property tax history

+9.9%/yr

Latest (2025): $2,143 · -7.1% YoY. Source: county tax records.