321 Crescent Dr · Hewitt, TX 76643

$199,900

3 bd · 2.0 ba · 1,615 sqft · SingleFamily public records · 46 Days on market

Built 1975 0.32 ac lot ↓ 31% 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 +19.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• 1% rule +5.8/10.0
• Schools +5.2/10.0
• Livability +3.6/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Looking for an affordable open concept, modern floorplan in Hewitt? Well you've found it at 321 Crescent Drive! As soon as you enter you'll fall in love with this complete remodel with stunning finishes throughout! Step into style and comfort with this beautifully remodeled 3-bedroom, 2.5-bath home nestled in the heart of Hewitt, Texas. From the moment you walk in, you’ll notice the attention to detail and high-end modern finishes throughout. The open-concept living space is perfect for entertaining, featuring luxury vinyl plank flooring, contemporary lighting, and a fresh, neutral color palette that complements any décor. The stunning kitchen boasts quartz countertops, bright

Key facts

• Complete remodel
• Stunning finishes
• Open concept

Tags

• OPEN CONCEPT
• MODERN FLOORPLAN
• COMPLETE REMODEL
• STUNNING FINISHES
• LUXURY VINYL PLANK FLOORING
• CONTEMPORARY LIGHTING

Property features AI

Finance

• Financial info: Listed as real estate owned
• HOA & community: No homeowners association

Exterior

• Parking: Detached carport; 2 covered/carport spaces; Driveway parking
• Utilities: City water; City sewer; Not in a municipal utility district
• Home design: Single-family residence; One and one-half levels; Residential property
• Construction: Built in 1975
• Exterior features: Lot under 0.5 acre (approximately 0.321 acres); Paved driveway

Interior

• Kitchen: Granite counters
• Bedrooms: 3 bedrooms (primary bedroom on main level)
• Bathrooms: 2 full bathrooms and 1 half bathroom
• Interior features: Granite counters; High-speed internet available; One living area; One dining area; Fireplace in living room (brick, wood-burning)
• Laundry & utility: No appliances included

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $200k).
• Recommended offer: $194k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 3.4% in Hewitt — 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 71/100 on livability (#301 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime A; Watch: amenities F, commute F, health & safety F.
• Midway ISD (other): math 61% / reading 58% proficiency, ranked #56 of 826 in TX (top 7%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Spring Valley El (math 47% / reading 47%, grade D-, #1,006 of 4,322 statewide, top 25%, 488 students, 40% FRL).
• Zoned-school proficiency averages 47% at this address vs 60% district-wide (-12 pts) — the specific schools serving this property underperform the Midway ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising (+1.6%/yr); 98 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,014 units permitted in McLennan County in 2024 (200 in 5+ unit buildings).
• This rent runs 31% of the median local income ($84k/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 $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• McLennan County population projected at +17% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($194k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 3y ago; this cycle's ask has dropped $35k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 66% chance of damaging wind over 30y; extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $193,903 (3.0% below list)

Questions for the listing agent

1. It's been on market 46 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 1975 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 7.65%
• Cash-on-cash: 4.85%
• DSCR: 1.22
• GRM: 7.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.57% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.63×
• Total profit: $-20,963
• Equity at exit: $29,806

10-year hold

• IRR: -3.3%
• Equity multiple: 0.79×
• Total profit: $-11,552
• Equity at exit: $17,284

Cash invested: $55,972 (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 76643

• Rents YoY: 1.6%
• Active inventory: 98
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,161 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$349 /mo · $4,191/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$454
• Net cashflow: $226

Break-even live

Break-even rent $1,874

Max offer price $199,900

Occupancy floor 85%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
525 E Spring Valley Rd Unit N/A Hewitt, TX	3.0	2.0	1406	$2,100	$1.49	21d	1	0.97mi
606 Circle Creek Dr Hewitt, TX	3.0	2.0	1535	$1,995	$1.30	13d	1	1.09mi
853 Day Star Dr Hewitt, TX	4.0	2.0	1897	$2,500	$1.32	13d	1	1.11mi
3112 Silver Saddle Dr Waco, TX	3.0	2.0	1670	$2,195	$1.31	21d	1	1.28mi
3108 Silver Saddle Dr Waco, TX	4.0	2.0	1918	$2,395	$1.25	13d	1	1.29mi
3113 Silver Saddle Dr Waco, TX	4.0	2.0	1778	$2,295	$1.29	13d	1	1.29mi
3116 Stallion Dr Robinson, TX	4.0	2.5	2221	$2,695	$1.21	13d	1	1.31mi
3125 Beauford St Robinson, TX	3.0	2.0	1400	$1,695	$1.21	13d	1	1.37mi
3045 Breton St Unit Breton 3041 Robinson, TX	3.0	2.0	1450	$1,695	$1.17	21d	1	1.38mi
3105 Beauford St Unit Beauford 3101 Robinson, TX	3.0	2.0	1400	$1,795	$1.28	21d	1	1.40mi
3004 Silver Saddle Dr Waco, TX	4.0	2.0	1772	$2,295	$1.30	13d	1	1.41mi

Listing history 6 events

1. 2026-06-07
   statusdays on market $199,900 Pending 46 DOM
2. 2026-06-03
   days on market $199,900 Active 45 DOM
3. 2026-06-02
   days on market $199,900 Active 44 DOM
4. 2026-06-01
   days on market $199,900 Active 43 DOM
5. 2026-05-31
   remarks 686-char remark
6. 2026-05-31
   listed $199,900 Active 42 DOM

ⓘ 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: $4,191 · $349/mo
• Projected year-2 tax: $4,191 · $349/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 4/10 Moderate
• 🌡 Heat 7/10 Severe 7 d/yr ≥108°F today · 22 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 66% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,928
• − Mortgage interest: −$11,198
• − Property taxes: −$4,191
• − Insurance: −$1,000
• − Repairs & maintenance: −$2,074
• − Management: −$2,074
• − Depreciation: −$5,815
• Taxable loss: −$424
• Est. tax savings @ 24.0%: +$102
• After-tax cash flow: $2,815/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: Midway ISD
• NCES district ID: 4830640
• Math proficiency: 61% ▼ -8.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $67,076
• Composite: 52.32/100
• National rank: #1593
• State rank: #56 of 826 in TX

Livability — Hewitt

• Score: 71/100
• State rank: #301
• US rank: #6841

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment B+ Housing A+ Health & safety F User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Hewitt, TX
• County: McLennan County · 213,088 people
• City population: 16,432
• Metro: Waco, TX
• Population (ZIP): 16,432
• Household income: $83,511
• Rent vs Own: 31.7% rent · 68.3% own
• Severe rent burden: 433.0

Population outlook (McLennan County) Hauer SSP2

• Today (2025): 264,191 people
• By 2030: 273,578 · +3.6%
• By 2040: 291,506 · +10.3%
• By 2050: 308,044 · +16.6%
• By 2075: 349,648 · +32.3%
• By 2100: 364,779 · +38.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (67%)
• Race & ethnicity: White 67% Hispanic / Latino 21% Two or more races 8% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 13% Puerto Rican 1%
• Common ancestry: Slovak 2% Lithuanian 2% Italian 1%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 89% English-only · Spanish 8% Vietnamese 1%

Political lean MEDSL · McLennan

• 2024 margin: Solid R (+30.9) · D 34.0% · R 64.9% · Other 1.0%
• 2008→2024 swing: -7.0pp toward R · 2008: -23.9pp · 2024: -30.9pp
• All cycles: 2024: R+30.9 2020: R+23.4 2016: R+27.1 2012: R+29.8 2008: R+23.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -125.02%
• Current HPI: 210.9229
• Rent YoY: ▲ 1.57%
• Metro: Waco, 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

-30.8% since first listed

22 events — show timeline

• 2026-05-21 Relisted — NTREIS
• 2026-04-28 Pending — NTREIS
• 2026-04-17 Price Changed $199,900 NTREIS
• 2026-04-16 Relisted — NTREIS
• 2026-03-31 Pending — NTREIS
• 2026-03-14 Price Changed $219,900 NTREIS
• 2026-03-11 Listed $234,900 NTREIS
• 2026-01-08 Listing Removed — NTREIS
• 2025-12-29 Price Changed $234,900 NTREIS
• 2025-11-24 Price Changed $249,900 NTREIS
• 2025-10-20 Listed $259,900 NTREIS
• 2024-08-22 Rental Removed $2,500 CTXMLS
• 2024-08-21 Listing Removed — CTXMLS
• 2024-07-24 Price Changed — Unlock MLS
• 2024-07-24 Price Changed $299,900 CTXMLS
• 2024-06-13 Listed for Rent $2,500 CTXMLS
• 2024-06-11 Price Changed $319,000 CTXMLS
• 2024-06-11 Listed — Unlock MLS
• 2024-05-24 Listed $338,000 CTXMLS
• 2023-01-31 Listing Removed — CTXMLS
• 2023-01-20 Listed $289,000 CTXMLS
• 2021-08-30 Sold (Public Records) — Public Records

Property tax history

+5.9%/yr

Latest (2025): $4,191 · +1.3% YoY. Source: county tax records.