906 E Hanson St · Cleveland, TX 77327

$114,000

2 bd · 1.0 ba · 840 sqft · Manufactured public records · 185 Days on market

Built 1973 0.33 ac lot $136/sqft · 16% below area Est $135k · 16% under ↓ 8% 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 +25.1/30.0
• ARV discount +14.5/15.0
• DSCR +8.2/10.0
• 1% rule +6.1/10.0
• 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 MLS

Welcome to this cozy and versatile home. Enjoy the charm of country-style living while being just minutes away from the city's convenience. Step inside to find beautiful luxury vinyl plank (LVP) flooring that adds warmth and durability throughout the home. A new metal roof installed in 2024 offers peace of mind for years to come. Outside, a convenient carport provides covered parking, while the rare double lot offers ample outdoor space for gardening, entertaining, or future expansion. Located near downtown Cleveland with close proximity to schools, shopping, and local amenities, this property blends comfort, value, and location! MOTIVATED SELLER!

Key facts

• New metal roof
• Carport
• Double lot

Tags

• LUXURY VINYL PLANK FLOORING
• NEW METAL ROOF
• CARPORT
• DOUBLE LOT
• CLOSE PROXIMITY TO SCHOOLS
• CLOSE PROXIMITY TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath manufactured listed at $114k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $114k).
• Recommended offer: $100k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% vs local median 4.6% 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); 1577 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 9d 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 $788 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 ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 185 days — a 12% lower offer ($100k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 2y ago; this cycle's ask is 10264% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

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 $100,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 185 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.11% ✓
• Cap rate: 8.94%
• Cash-on-cash: 9.46%
• DSCR: 1.42
• GRM: 7.5

CMA / ARV

• ARV (median comp): $134,950
• List price: $114,000
• Delta: -15.52%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.0% rent growth · sell at horizon

5-year hold

• IRR: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,162
• Equity at exit: $16,998

10-year hold

• IRR: 9.7%
• Equity multiple: 1.78×
• Total profit: $25,004
• Equity at exit: $9,857

Cash invested: $31,920 (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: 1577
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,268 high
• Mortgage (P&I): −$598
• Tax from tax record: −$105 /mo · $1,258/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $252

Break-even live

Break-even rent $950

Max offer price $114,000

Occupancy floor 75%

Sensitivity live

Price	-10% $316	-5% $284	+0% $252	+5% $219	+10% $187
Rent	-10% $151	-5% $202	+0% $252	+5% $302	+10% $352
Rate	-1.0pp $309	-0.5pp $281	base $252	+0.5pp $222	+1.0pp $192

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: $28,500
• Closing costs: $3,420
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
808 Denison Ave Unit 5 Cleveland, TX	1.0	1.0	640	$800	$1.25	9d	1	0.24mi
808 Denison Ave Unit 5 Cleveland, TX	1.0	1.0	640	$850	$1.33	14d	1	0.24mi
700 Lyle West Ave Cleveland, TX	3.0	2.0	1080	$1,195	$1.11	0d	1	0.25mi
511 S Roosevelt Ave Cleveland, TX	3.0	1.0	960	$1,600	$1.67	45d	1	0.49mi
307 Sleepy Hollow Dr Cleveland, TX	1.0–2.0	1.0–2.0	738	$1,440	$1.95	0d	4	0.52mi
201 Pine Bend Ct Cleveland, TX	3.0	1.0	1040	$1,200	$1.15	45d	1	0.76mi
1301 Nevell St Cleveland, TX	1.0–3.0	1.0–2.0	827	$1,246	$1.51	0d	5	1.01mi

Listing history 27 events

1. 2026-06-21
   days on market $114,000 Active 185 DOM
2. 2026-06-18
   days on market $114,000 Active 182 DOM
3. 2026-06-17
   days on market $114,000 Active 181 DOM
4. 2026-06-16
   days on market $114,000 Active 180 DOM
5. 2026-06-15
   days on market $114,000 Active 179 DOM
6. 2026-06-13
   days on market $114,000 Active 177 DOM
7. 2026-06-09
   days on market $114,000 Active 173 DOM
8. 2026-06-08
   days on market $114,000 Active 172 DOM
9. 2026-06-07
   days on market $114,000 Active 171 DOM
10. 2026-06-04
    days on market $114,000 Active 168 DOM
11. 2026-06-03
    days on market $114,000 Active 167 DOM
12. 2026-06-02
    days on market $114,000 Active 166 DOM
13. 2026-06-01
    days on market $114,000 Active 165 DOM
14. 2026-05-31
    days on market $114,000 Active 164 DOM
15. 2026-05-08
    listed $1,100
16. 2026-03-24
    price $114,000 655-char remark

    Show marketing remark (655 chars)

    Welcome to this cozy and versatile home. Enjoy the charm of country-style living while being just minutes away from the city's convenience. Step inside to find beautiful luxury vinyl plank (LVP) flooring that adds warmth and durability throughout the home. A new metal roof installed in 2024 offers peace of mind for years to come. Outside, a convenient carport provides covered parking, while the rare double lot offers ample outdoor space for gardening, entertaining, or future expansion. Located near downtown Cleveland with close proximity to schools, shopping, and local amenities, this property blends comfort, value, and location! MOTIVATED SELLER!

17. 2026-02-06
    price $129,000 655-char remark

    Show marketing remark (655 chars)

    Welcome to this cozy and versatile home. Enjoy the charm of country-style living while being just minutes away from the city's convenience. Step inside to find beautiful luxury vinyl plank (LVP) flooring that adds warmth and durability throughout the home. A new metal roof installed in 2024 offers peace of mind for years to come. Outside, a convenient carport provides covered parking, while the rare double lot offers ample outdoor space for gardening, entertaining, or future expansion. Located near downtown Cleveland with close proximity to schools, shopping, and local amenities, this property blends comfort, value, and location! MOTIVATED SELLER!

18. 2025-12-18
    listed $139,000 Active 655-char remark

    Show marketing remark (655 chars)

    Welcome to this cozy and versatile home. Enjoy the charm of country-style living while being just minutes away from the city's convenience. Step inside to find beautiful luxury vinyl plank (LVP) flooring that adds warmth and durability throughout the home. A new metal roof installed in 2024 offers peace of mind for years to come. Outside, a convenient carport provides covered parking, while the rare double lot offers ample outdoor space for gardening, entertaining, or future expansion. Located near downtown Cleveland with close proximity to schools, shopping, and local amenities, this property blends comfort, value, and location! MOTIVATED SELLER!

19. 2025-12-12
    historical
20. 2025-11-10
    listed $155,000 Active
21. 2024-10-23
    historical $1,200
22. 2024-10-09
    listed $1,200
23. 2024-02-12
    historical $1,200
24. 2024-02-03
    listed $1,200
25. 2020-02-11
    soldstatus
26. 2018-12-20
    soldstatus
27. 2004-01-21
    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: $1,258 · $105/mo
• Projected year-2 tax: $2,086 · $174/mo
• Expected delta: +$828/yr (+$69/mo · 65.9%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 8/10 Severe 7 d/yr ≥110°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: $15,217
• − Mortgage interest: −$6,386
• − Property taxes: −$1,258
• − Insurance: −$570
• − Repairs & maintenance: −$1,217
• − Management: −$1,217
• − Depreciation: −$3,316
• Taxable income: $1,252
• Est. tax owed @ 24.0%: −$301
• After-tax cash flow: $2,719/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

-8.3% since first listed

13 events — show timeline

• 2026-05-08 Listed for Rent $1,100 HARMLS
• 2026-03-24 Price Changed $114,000 HARMLS
• 2026-02-06 Price Changed $129,000 HARMLS
• 2025-12-18 Listed $139,000 HARMLS
• 2025-12-12 Listing Removed — HARMLS
• 2025-11-10 Listed $155,000 HARMLS
• 2024-10-23 Rental Removed $1,200 HARMLS
• 2024-10-09 Listed for Rent $1,200 HARMLS
• 2024-02-12 Rental Removed $1,200 HARMLS
• 2024-02-03 Listed for Rent $1,200 HARMLS
• 2020-02-11 Sold (Public Records) — Public Records
• 2018-12-20 Sold (Public Records) — Public Records
• 2004-01-21 Sold (Public Records) — Public Records

Property tax history

+9.4%/yr

Latest (2025): $1,258 · -5.8% YoY. Source: county tax records.