2220 Lee Turner Rd · Cleveland, TX 77328

$135,000

4 bd · 2.0 ba · 1,440 sqft · Townhouse public records · 131 Days on market

Built 2007 1.46 ac lot $94/sqft · 34% below area Est $203k · 34% under

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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 +9.9/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable 1.5 story country home ready to be renovated and made into a dream home or retreat in the country. A beautiful iron fence and gate with a solar-powered opener welcomes you to 1.46 acres with plenty of room for animals, a 4-H/FFA project, playground, a boat, RV, swimming pool, or whatever interests and hobbies you have. The possibilities are endless on this unrestricted property with NO HOA, LOW TAXES, NO Municipal Utility District. High and dry, this property has never flooded. Come take a look and fall in love with the property in the country.

Key facts

• 1.46 acres
• Low taxes
• Iron fence

Tags

• IRON FENCE
• SOLAR-POWERED OPENER
• 1.46 ACRES
• UNRESTRICTED PROPERTY
• NO HOA
• LOW TAXES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $135k.

Deal economics

• At list price, monthly cash flow is $604 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $119k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.7% 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: schools F, crime D-, amenities 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.
• Market conditions: 336 active listings in the ZIP; 575 units permitted in San Jacinto County in 2024 (0 in 5+ unit buildings).
• This rent runs 39% 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 $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• San Jacinto County population projected at +7% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 131 days — a 12% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y ago; this cycle's ask has dropped $15k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; moderate wildfire risk; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $118,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 131 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 1.49% ✓
• Cap rate: 11.66%
• Cash-on-cash: 19.18%
• DSCR: 1.85
• GRM: 5.6

CMA / ARV

• ARV (median comp): $203,421
• List price: $135,000
• Delta: -33.64%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 11.1%
• Equity multiple: 1.44×
• Total profit: $16,657
• Equity at exit: $20,129

10-year hold

• IRR: 20.2%
• Equity multiple: 2.70×
• Total profit: $64,292
• Equity at exit: $11,672

Cash invested: $37,800 (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 77328

• Home prices YoY: -7.7%
• Active inventory: 336
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $2,009 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$219 /mo · $2,626/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$422
• Net cashflow: $604

Break-even live

Break-even rent $1,244

Max offer price $135,000

Occupancy floor 65%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $135,000 Active 131 DOM
2. 2026-06-17
   days on market $135,000 Active 130 DOM
3. 2026-06-16
   days on market $135,000 Active 129 DOM
4. 2026-06-15
   days on market $135,000 Active 128 DOM
5. 2026-06-13
   days on market $135,000 Active 126 DOM
6. 2026-06-09
   days on market $135,000 Active 122 DOM
7. 2026-06-08
   days on market $135,000 Active 121 DOM
8. 2026-06-07
   days on market $135,000 Active 120 DOM
9. 2026-06-04
   days on market $135,000 Active 117 DOM
10. 2026-06-03
    days on market $135,000 Active 116 DOM
11. 2026-06-02
    days on market $135,000 Active 115 DOM
12. 2026-06-01
    days on market $135,000 Active 114 DOM
13. 2026-05-31
    days on market $135,000 Active 113 DOM
14. 2026-02-21
    price $135,000 559-char remark

    Show marketing remark (559 chars)

    Adorable 1.5 story country home ready to be renovated and made into a dream home or retreat in the country. A beautiful iron fence and gate with a solar-powered opener welcomes you to 1.46 acres with plenty of room for animals, a 4-H/FFA project, playground, a boat, RV, swimming pool, or whatever interests and hobbies you have. The possibilities are endless on this unrestricted property with NO HOA, LOW TAXES, NO Municipal Utility District. High and dry, this property has never flooded. Come take a look and fall in love with the property in the country.

15. 2026-02-07
    listed $150,000 Active 559-char remark

    Show marketing remark (559 chars)

    Adorable 1.5 story country home ready to be renovated and made into a dream home or retreat in the country. A beautiful iron fence and gate with a solar-powered opener welcomes you to 1.46 acres with plenty of room for animals, a 4-H/FFA project, playground, a boat, RV, swimming pool, or whatever interests and hobbies you have. The possibilities are endless on this unrestricted property with NO HOA, LOW TAXES, NO Municipal Utility District. High and dry, this property has never flooded. Come take a look and fall in love with the property in the country.

16. 2016-03-17
    soldstatus
17. 2016-03-09
    soldstatus Sold 370-char remark

    Show marketing remark (370 chars)

    Great Value! No HOA! Remodeled 3 Bedroom House on 1 1/2 acres. The owners are still remodeling, but the property is in great condition. The owners are continuing to work on the property but are also ready to sell at anytime. New carpet in the bedrooms and Laminate wood in the living room, added on to the kitchen and fresh paint throughout. Buyers come and take a look!

18. 2016-02-28
    status Active 370-char remark

    Show marketing remark (370 chars)

    Great Value! No HOA! Remodeled 3 Bedroom House on 1 1/2 acres. The owners are still remodeling, but the property is in great condition. The owners are continuing to work on the property but are also ready to sell at anytime. New carpet in the bedrooms and Laminate wood in the living room, added on to the kitchen and fresh paint throughout. Buyers come and take a look!

19. 2015-12-24
    status Pending 370-char remark

    Show marketing remark (370 chars)

    Great Value! No HOA! Remodeled 3 Bedroom House on 1 1/2 acres. The owners are still remodeling, but the property is in great condition. The owners are continuing to work on the property but are also ready to sell at anytime. New carpet in the bedrooms and Laminate wood in the living room, added on to the kitchen and fresh paint throughout. Buyers come and take a look!

20. 2015-12-15
    status Option Pending 370-char remark

    Show marketing remark (370 chars)

    Great Value! No HOA! Remodeled 3 Bedroom House on 1 1/2 acres. The owners are still remodeling, but the property is in great condition. The owners are continuing to work on the property but are also ready to sell at anytime. New carpet in the bedrooms and Laminate wood in the living room, added on to the kitchen and fresh paint throughout. Buyers come and take a look!

21. 2015-10-08
    price $94,900 370-char remark

    Show marketing remark (370 chars)

    Great Value! No HOA! Remodeled 3 Bedroom House on 1 1/2 acres. The owners are still remodeling, but the property is in great condition. The owners are continuing to work on the property but are also ready to sell at anytime. New carpet in the bedrooms and Laminate wood in the living room, added on to the kitchen and fresh paint throughout. Buyers come and take a look!

22. 2015-10-08
    price $104,900 370-char remark

    Show marketing remark (370 chars)

    Great Value! No HOA! Remodeled 3 Bedroom House on 1 1/2 acres. The owners are still remodeling, but the property is in great condition. The owners are continuing to work on the property but are also ready to sell at anytime. New carpet in the bedrooms and Laminate wood in the living room, added on to the kitchen and fresh paint throughout. Buyers come and take a look!

23. 2015-09-07
    listed $99,000 Active 370-char remark

    Show marketing remark (370 chars)

    Great Value! No HOA! Remodeled 3 Bedroom House on 1 1/2 acres. The owners are still remodeling, but the property is in great condition. The owners are continuing to work on the property but are also ready to sell at anytime. New carpet in the bedrooms and Laminate wood in the living room, added on to the kitchen and fresh paint throughout. Buyers come and take a look!

24. 2014-11-14
    soldstatus Sold
25. 2014-10-30
    status Pending
26. 2014-10-09
    status Active
27. 2014-10-06
    status Pending
28. 2014-09-19
    status Active
29. 2014-09-03
    historical
30. 2014-08-29
    listed $21,999 Active
31. 2007-12-27
    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: $2,626 · $219/mo
• Projected year-2 tax: $2,626 · $219/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 5/10 Major
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 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: $24,108
• − Mortgage interest: −$7,562
• − Property taxes: −$2,626
• − Insurance: −$675
• − Repairs & maintenance: −$1,929
• − Management: −$1,929
• − Depreciation: −$3,927
• Taxable income: $5,460
• Est. tax owed @ 24.0%: −$1,310
• After-tax cash flow: $5,938/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

• County: San Jacinto County · 17,208 people
• City population: 17,208
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 17,208
• Household income: $62,428
• Rent vs Own: 20.5% rent · 79.5% own
• Severe rent burden: 58.0

Population outlook (San Jacinto County) Hauer SSP2

• Today (2025): 29,069 people
• By 2030: 29,750 · +2.3%
• By 2040: 30,714 · +5.7%
• By 2050: 31,010 · +6.7%
• By 2075: 31,616 · +8.8%
• By 2100: 29,874 · +2.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (61%)
• Race & ethnicity: White 61% Hispanic / Latino 33% Two or more races 14% Black 2%
• Hispanic origin (detail): Mexican 27% Cuban 1%
• Common ancestry: Lithuanian 4% Italian 3% Serbian 3%
• Foreign-born: 18% · Canada, China
• Languages at home: 67% English-only · Spanish 31% Chinese 1%

Political lean MEDSL · San Jacinto

• 2024 margin: Solid R (+65.3) · D 17.0% · R 82.3%
• 2008→2024 swing: -27.0pp toward R · 2008: -38.3pp · 2024: -65.3pp
• All cycles: 2024: R+65.3 2020: R+61.9 2016: R+58.4 2012: R+48.9 2008: R+38.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -22.82%
• Current HPI: 273.6604
• Rent YoY: —
• 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

+513.7% since first listed

18 events — show timeline

• 2026-02-21 Price Changed $135,000 HARMLS
• 2026-02-07 Listed $150,000 HARMLS
• 2016-03-17 Sold (Public Records) — Public Records
• 2016-03-09 Sold (MLS) — HARMLS
• 2016-02-28 Relisted — HARMLS
• 2015-12-24 Pending — HARMLS
• 2015-12-15 Pending — HARMLS
• 2015-10-08 Price Changed $104,900 HARMLS
• 2015-10-08 Price Changed $94,900 HARMLS
• 2015-09-07 Listed $99,000 HARMLS
• 2014-11-14 Sold (MLS) — HARMLS
• 2014-10-30 Pending — HARMLS
• 2014-10-09 Relisted — HARMLS
• 2014-10-06 Pending — HARMLS
• 2014-09-19 Relisted — HARMLS
• 2014-09-03 Listing Removed — HARMLS
• 2014-08-29 Listed $21,999 HARMLS
• 2007-12-27 Sold (Public Records) — Public Records

Property tax history

+8.7%/yr

Latest (2025): $2,626 · +18.2% YoY. Source: county tax records.