106 May Ave · Cleburne, TX 76031

$125,000

3 bd · 1.0 ba · 1,104 sqft · SingleFamily public records · 56 Days on market

5,401 sqft lot $113/sqft · 27% below area Est $172k · 27% under ↓ 22% 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 +28.0/30.0
• ARV discount +15.0/15.0
• DSCR +9.9/10.0
• 1% rule +7.8/10.0
• Livability +3.4/5.0
• Schools +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming and full of character, this 2 bedroom 1 bathroom home in the heart of Cleburne offers a blend of updates, functionality, and opportunity. A major recent upgrade includes a BRAND NEW 2026 roof with a Tamko Titan system, adding long term value and peace of mind. Inside you will find a welcoming living space highlighted by a wood accent wall that adds warmth and style, along with an open flow into the dining area and kitchen. The kitchen features refreshed cabinetry and updated countertops, creating a bright and usable space for everyday living. The flexible layout includes a spacious upstairs area that can serve as a bedroom, second living space, or home office. Outside, enjoy a cove

Key facts

• Covered front porch
• Wood accent wall
• Large backyard

Tags

• NEW ROOF
• WOOD ACCENT WALL
• REFRESHED CABINETRY
• UPDATED COUNTERTOPS
• COVERED FRONT PORCH
• LARGE BACKYARD

Property features AI

Finance

• Other: Property is not attached to another unit; Subdivision: Original Cleburne; Directions available to the property
• Financial info: Listing terms include Cash and Conventional
• HOA & community: No association

Exterior

• Parking: Driveway (unpaved); No garage or covered/carport spaces
• Security: Smoke detector(s); Carbon monoxide detector(s)
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; Residential property; Entry and main living on the main level; Two stories/levels
• Construction: Shingle roof; Pillar/post/pier foundation; Year built: unknown
• Exterior features: Covered deck; Covered front and rear porches; Patio; Private yard; Shed(s)/storage on property; Interior lot

Interior

• Kitchen: Gas oven; Microwave; Eat-in kitchen layout
• Bedrooms: 2 bedrooms (both on the main level)
• Flooring: Combination flooring
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Central heating; Central air; Ceiling fan(s); Window unit(s)
• Interior features: Cable TV available; Eat-in kitchen; One living area; One dining area; Total of 4 rooms; Two levels
• Laundry & utility: Washer hookup; Other laundry features

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $390 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.0% 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-, amenities F, commute 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.
• Zoned schools: Santa Fe El (math 37% / reading 32%, grade F, #1,995 of 4,322 statewide, top 50%, 409 students, 91% FRL) — zoned schools average 91% FRL vs 56% district-wide (36 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 335 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $864 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $35k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• 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 $121,250 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.28% ✓
• Cap rate: 10.04%
• Cash-on-cash: 13.37%
• DSCR: 1.59
• GRM: 6.5

CMA / ARV

• ARV (median comp): $172,288
• List price: $125,000
• Delta: -27.45%
• 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
511 N Wood St	0.38mi	2/1.0 (-1)	1,189 (+8%)	1mo	$185,000	$156	64
103 Myers Ave	0.32mi	3/1.5	1,229 (+11%)	2mo	$175,000	$142	62
701 Poindexter Ave	0.66mi	2/1.0 (-1)	1,090 (-1%)	3mo	$170,000	$156	60
308 Poindexter Ave	0.55mi	3/2.0	1,048 (-5%)	3mo	$197,000	$188	59
1210 N Robinson St	0.64mi	3/1.0	1,024 (-7%)	3mo	$115,000	$112	56
616 Sabine Ave	0.71mi	3/2.0	1,150 (+4%)	1mo	$209,900	$183	55
906 N Wilhite St	0.46mi	3/2.0	1,219 (+10%)	3mo	$240,000	$197	55
607 N Wood St	0.42mi	3/1.0	1,260 (+14%)	4mo	$175,000	$139	54
542 W Wilson St	0.74mi	3/2.0	1,163 (+5%)	0mo	$185,000	$159	52
109 Claude Ave	0.48mi	2/1.0 (-1)	1,240 (+12%)	5mo	$75,000	$60	48
704 Graham St	0.56mi	2/2.0 (-1)	1,008 (-9%)	5mo	$200,000	$198	47
508 Bales St	0.75mi	2/2.0 (-1)	1,230 (+11%)	7mo	$215,000	$175	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.13×
• Total profit: $4,614
• Equity at exit: $18,638

10-year hold

• IRR: 13.0%
• Equity multiple: 2.03×
• Total profit: $36,131
• Equity at exit: $10,808

Cash invested: $35,000 (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 76031

• Home prices YoY: -17.6%
• Active inventory: 335
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,603 high
• Mortgage (P&I): −$656
• Tax from tax record: −$169 /mo · $2,027/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$337
• Net cashflow: $390

Break-even live

Break-even rent $1,110

Max offer price $125,000

Occupancy floor 71%

Sensitivity live

Price	-10% $461	-5% $425	+0% $390	+5% $355	+10% $319
Rent	-10% $263	-5% $327	+0% $390	+5% $453	+10% $517
Rate	-1.0pp $453	-0.5pp $422	base $390	+0.5pp $358	+1.0pp $325

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
104 May Ave Cleburne, TX	3.0	2.0	1164	$1,550	$1.33	44d	1	0.03mi
103 May Ave Cleburne, TX	3.0	2.0	1262	$1,795	$1.42	6d	1	0.05mi
110 E Wilson St Unit B Cleburne, TX	3.0	2.5	1400	$1,900	$1.36	25d	1	0.14mi
612 N Robinson St Cleburne, TX	3.0	2.5	1311	$2,200	$1.68	44d	1	0.17mi
112 W Wilson St Cleburne, TX	2.0	1.0	1002	$1,400	$1.40	44d	1	0.18mi
431 N Wilhite St Unit 431 Cleburne, TX	2.0	1.0	750	$1,195	$1.59	20d	1	0.21mi
901 N Border St Unit A Cleburne, TX	2.0	1.0	900	$950	$1.06	44d	1	0.38mi
1005 N Buffalo Ave Cleburne, TX	3.0	1.0	1146	$1,500	$1.31	25d	1	0.44mi
1005 N Buffalo Ave Cleburne, TX	3.0	1.0	1146	$1,500	$1.31	44d	1	0.44mi
1005 N Buffalo Ave Cleburne, TX	3.0	1.0	1146	$1,500	$1.31	3d	1	0.44mi
114 Scurlock Ave Cleburne, TX	4.0	2.0	1457	$1,770	$1.21	44d	1	0.55mi
1308 N Brazos Ave Cleburne, TX	3.0	2.0	1028	$1,595	$1.55	25d	1	0.56mi
1005 Granbury St Unit A Cleburne, TX	3.0	2.0	1362	$2,050	$1.51	25d	1	0.64mi
601 Royal St Cleburne, TX	2.0	1.0	720	$1,300	$1.81	7d	1	0.64mi
601 Royal St Cleburne, TX	2.0	1.0	720	$1,325	$1.84	44d	1	0.64mi
601 Royal St Cleburne, TX	2.0	1.0	720	$1,375	$1.91	3d	1	0.64mi
438 Sabine Ave Cleburne, TX	3.0	2.0	1230	$1,650	$1.34	13d	1	0.68mi
318 College St Unit B Cleburne, TX	2.0	1.0	1256	$1,150	$0.92	25d	1	0.68mi
405 College St Cleburne, TX	3.0	2.0	1396	$1,650	$1.18	6d	1	0.73mi
805 N Douglas Ave Cleburne, TX	3.0	2.0	1460	$1,999	$1.37	44d	1	0.81mi
907 Hodge St Cleburne, TX	2.0	1.0	912	$1,450	$1.59	3d	1	0.84mi
514 Euclid St Cleburne, TX	3.0	2.0	1152	$1,595	$1.38	44d	1	0.87mi
204 W Westhill Dr Cleburne, TX	3.0	2.0	1040	$1,950	$1.88	44d	1	0.88mi
226 Seclusion Dr Cleburne, TX	3.0–4.0	2.0	1641	$2,205	$1.34	1d	1	0.91mi
1405 Granbury St Cleburne, TX	3.0	1.0	1278	$1,545	$1.21	25d	1	0.91mi
909 W Wardville St Cleburne, TX	2.0	1.0	847	$1,350	$1.59	44d	1	0.91mi
400 Phillips St Cleburne, TX	2.0–3.0	1.0–1.5	1000	$1,581	$1.58	1d	5	0.95mi
122 Ramsey St #124 Cleburne, TX	2.0	1.0	880	$1,050	$1.19	22d	1	0.96mi
1108 Poindexter Ave Cleburne, TX	3.0	1.0	1300	$1,550	$1.19	44d	1	0.97mi
1507 Granbury St Cleburne, TX	3.0	2.0	1140	$1,811	$1.59	25d	1	0.97mi
521 Woodard Ave Unit One Cleburne, TX	2.0	1.0	1350	$1,000	$0.74	44d	1	0.98mi
303 Eastland St Cleburne, TX	3.0	3.0	1254	$1,950	$1.56	44d	1	0.98mi
1315 Joslin St Cleburne, TX	3.0	2.0	1294	$1,595	$1.23	7d	1	1.01mi
1606 Granbury St Unit A Cleburne, TX	3.0	2.0	1289	$1,650	$1.28	13d	1	1.01mi
706 S Brazos Ave Unit B Cleburne, TX	4.0	2.0	1400	$1,800	$1.29	25d	1	1.03mi
1106 Williams Ave Unit D Cleburne, TX	2.0	1.0	900	$900	$1.00	25d	1	1.07mi
1108 Williams Ave Unit H Cleburne, TX	2.0	1.0	900	$900	$1.00	25d	1	1.07mi
807 W Smith St Cleburne, TX	3.0	2.0	1223	$1,845	$1.51	13d	1	1.09mi
1110 Williams Ave Unit C Cleburne, TX	2.0	1.0	900	$900	$1.00	44d	1	1.10mi
203 Willana Ct Cleburne, TX	3.0	2.0	1100	$1,700	$1.55	21d	1	1.11mi

Listing history 18 events

1. 2026-06-18
   days on market $125,000 Active 56 DOM
2. 2026-06-17
   days on market $125,000 Active 55 DOM
3. 2026-06-16
   days on market $125,000 Active 54 DOM
4. 2026-06-15
   days on market $125,000 Active 53 DOM
5. 2026-06-13
   days on market $125,000 Active 51 DOM
6. 2026-06-09
   days on market $125,000 Active 47 DOM
7. 2026-06-08
   days on market $125,000 Active 46 DOM
8. 2026-06-07
   pricedays on market $125,000 Active 45 DOM
9. 2026-06-04
   days on market $140,000 Active 42 DOM
10. 2026-06-03
    days on market $140,000 Active 41 DOM
11. 2026-06-02
    days on market $140,000 Active 40 DOM
12. 2026-06-02
    price $140,000 Active 39 DOM
13. 2026-06-01
    days on market $150,000 Active 39 DOM
14. 2026-05-31
    days on market $150,000 Active 38 DOM
15. 2026-05-13
    price $150,000 1033-char remark
16. 2026-05-07
    price $155,000 1033-char remark
17. 2026-04-22
    listed $160,000 Active 1033-char remark
18. 2000-10-13
    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: $2,027 · $169/mo
• Projected year-2 tax: $2,288 · $191/mo
• Expected delta: +$260/yr (+$22/mo · 12.8%)

ⓘ 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 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: $19,238
• − Mortgage interest: −$7,002
• − Property taxes: −$2,027
• − Insurance: −$625
• − Repairs & maintenance: −$1,539
• − Management: −$1,539
• − Depreciation: −$3,636
• Taxable income: $2,869
• Est. tax owed @ 24.0%: −$689
• After-tax cash flow: $3,991/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
• City population: 29,538
• Population (ZIP): 18,697

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: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 28% Two or more races 12% Black 3%
• Hispanic origin (detail): Mexican 23% Puerto Rican 3%
• Common ancestry: Italian 1% Lithuanian 1% Slovak 1%
• Foreign-born: 5% · Canada, Vietnam
• Languages at home: 77% English-only · Spanish 22% Vietnamese 0%

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: ▼ -59.43%
• Current HPI: 277.598
• Rent YoY: —
• Metro: —
• 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

-21.9% since first listed

8 events — show timeline

• 2026-06-06 Price Changed $125,000 NTREIS
• 2026-06-01 Price Changed $140,000 NTREIS
• 2026-05-30 Relisted — NTREIS
• 2026-05-21 Contingent — NTREIS
• 2026-05-13 Price Changed $150,000 NTREIS
• 2026-05-07 Price Changed $155,000 NTREIS
• 2026-04-22 Listed $160,000 NTREIS
• 2000-10-13 Sold (Public Records) — Public Records

Property tax history

+4.4%/yr

Latest (2025): $2,027 · +11.7% YoY. Source: county tax records.