670 Maria Elena Way · Cleveland, TX 77327

$206,990

4 bd · 2.5 ba · 1,954 sqft · SingleFamily · 33 Days on market

Built 2026 Excellent condition $10/mo HOA · 1% of rent

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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).

• Cash flow +9.5/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Rent growth +3.5/5.0
• Livability +3.1/5.0
• 1% rule +2.9/10.0
• DSCR +2.7/10.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

NEW in the Santa Fe Village Community! Lennar Cottage Collection "Whitetail" Plan with Elevation "C". The first floor of this two-story home shares a spacious open layout between the kitchen, dining room and family room for easy entertaining. Upstairs are three secondary bedrooms, ideal for residents and overnight guests, surrounding a versatile loft that serves as an additional shared living space. An owner's suite sprawls across the rear of the second floor and enjoys an en-suite bathroom and a walk-in closet.

Key facts

• Walk-in closet
• Open layout
• En-suite bathroom

Tags

• OPEN LAYOUT
• VERSATILE LOFT
• EN-SUITE BATHROOM
• WALK-IN CLOSET

Property features AI

Finance

• HOA & community: Houston El Norte Property Association; Annual association fee of $120

Exterior

• Parking: Attached 2-car garage
• Utilities: Has heating; Has cooling
• Home design: Residential property; Under construction (new construction); Slab foundation; Built in 2026
• Construction: Cement siding construction
• Exterior features: Subdivision lot; Composition roof

Interior

• Kitchen: Kitchen included
• Bedrooms: Primary bedroom on second floor (approx. 16x12); Bedroom on second floor (approx. 12x12); Bedroom on second floor (approx. 12x12); Bedroom on second floor (approx. 10x10)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Bonus room on second floor; Dining room on first floor; Family room on first floor; Kitchen on first floor

🏗️ New construction. The $206,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $222,756.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $207k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-155 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (3.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $176k (14.7% below list).
• Recommended offer: $176k (14.7% below list) — sets the bar for 1% rule.

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: Southside El (math 17% / reading 20%, grade F, #3,759 of 4,322 statewide, top 88%, 905 students, 95% 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 95% FRL vs 71% district-wide (24 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; 4 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).
• 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 $2k of loan paydown is wiped out by about $7k 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 33 days — a 3% lower offer ($201k) is reasonable based on typical stale-listing flexibility.

Recommended offer $176,481 (14.7% 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 33 days. Have you received any prior offers? Is the seller open to a 15% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
8. 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.
9. 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.
10. 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: 0.79% ✗
• Cap rate: 5.46%
• Cash-on-cash: -2.99%
• DSCR: 0.87
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $222,756
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
670 Maria Elena Way	0.00mi	4/2.5	1,954 (0%)	1mo	$206,990	$106	99
4509 5914 21	0.00mi	3/2.0 (-1)	1,754 (-10%)	3mo	$265,000	$151	74
501 W Houston St	0.50mi	4/2.5	1,843 (-6%)	7mo	$250,000	$136	62
315 Tanner Ave	0.65mi	3/2.5 (-1)	1,933 (-1%)	3mo	$219,900	$114	61
812 Linia Alfred	0.58mi	4/2.5	1,834 (-6%)	3mo	$279,000	$152	60
100 S Mason Ave	0.36mi	3/1.5 (-1)	1,881 (-4%)	12mo	$179,900	$96	58
407 Tanner Ave	0.67mi	3/2.0 (-1)	1,922 (-2%)	3mo	$142,900	$74	57
109 Dunnam Ave	0.54mi	3/2.0 (-1)	1,992 (+2%)	11mo	$199,000	$100	56
211 S Cleveland Ave	0.42mi	3/2.0 (-1)	1,744 (-11%)	5mo	$229,900	$132	52
509 Hancock Ave	0.53mi	3/2.0 (-1)	1,747 (-11%)	9mo	$199,000	$114	43
1016 Rachel B Scott St	0.72mi	3/2.5 (-1)	1,693 (-13%)	0mo	$185,000	$109	39
702 S Roosevelt Ave S	0.51mi	3/2.0 (-1)	1,663 (-15%)	9mo	$225,800	$136	37

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: -20.1%
• Equity multiple: 0.29×
• Total profit: $-44,156
• Equity at exit: $33,214

10-year hold

• IRR: -11.1%
• Equity multiple: 0.30×
• Total profit: $-43,536
• Equity at exit: $19,260

Cash invested: $62,372 (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: 9.8×

Monthly cashflow live

• Estimated rent: $1,765 medium
• Mortgage (P&I): −$1,168
• Tax est. 1.5%: −$278 /mo · $3,341/yr
• Insurance: −$93
• HOA: −$10
• Vacancy / Maint / Mgmt: −$371
• Net cashflow: $-155

Break-even live

Break-even rent $1,961

Max offer price $200,296

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: $55,689
• Closing costs: $6,683
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
309 Johnson ST Unit J Cleveland, TX	4.0	1.0	1346	$1,350	$1.00	7d	1	0.04mi
909 Jefferson Ave Cleveland, TX	3.0	2.0	1600	$1,870	$1.17	1d	1	0.86mi
1018 Green Ave Cleveland, TX	4.0	2.0	1337	$1,500	$1.12	21d	1	0.96mi
11040 Pelican Hill Ln Cleveland, TX	5.0	3.0	2600	$2,200	$0.85	2d	1	1.45mi

HOA detail

• Monthly dues: $10 · $120/yr

Listing history 9 events

1. 2026-04-28
   status Pending
2. 2026-04-28
   price $206,990
3. 2026-04-20
   price $175,090
4. 2026-04-17
   price $180,790
5. 2026-04-13
   price $183,640
6. 2026-04-09
   price $186,490
7. 2026-04-01
   price $192,940
8. 2026-03-31
   price $195,990
9. 2026-03-26
   listed $206,990 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,178
• − Mortgage interest: −$12,478
• − Property taxes: −$3,341
• − Insurance: −$1,114
• − Repairs & maintenance: −$1,694
• − Management: −$1,694
• − HOA: −$120
• − Depreciation: −$6,480
• Taxable loss: −$5,744
• Est. tax savings @ 24.0%: +$1,379
• After-tax cash flow: $-484/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 · 14 photos

Excellent 95/100 None rehab

This home is in excellent condition with no major repairs needed. It is move-in ready and would benefit from a fresh coat of paint and new flooring to further enhance its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters.
• Both Updating the flooring — Replacing worn-out flooring with new, high-quality materials can improve the home's overall appearance and increase its value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters. ↑
• Both Updating the flooring — Replacing worn-out flooring with new, high-quality materials can improve the home's overall appearance and increase its value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+0.0% since first listed

9 events — show timeline

• 2026-04-28 Pending — HARMLS
• 2026-04-28 Price Changed $206,990 HARMLS
• 2026-04-20 Price Changed $175,090 HARMLS
• 2026-04-17 Price Changed $180,790 HARMLS
• 2026-04-13 Price Changed $183,640 HARMLS
• 2026-04-09 Price Changed $186,490 HARMLS
• 2026-04-01 Price Changed $192,940 HARMLS
• 2026-03-31 Price Changed $195,990 HARMLS
• 2026-03-26 Listed $206,990 HARMLS