Is 489 Hundred Acre Dr in Waxahachie, TX a good investment?

CashFlowRE grades it F with a 4.4% cap rate and $-679/mo modeled cash flow at a $419,990 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 489 Hundred Acre Dr?

The modeled cap rate is 4.4% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $2,878/month, from CashFlowRE's rent model.

F Composite 33.62

Why this score? — see what drove the F 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).

ARV discount +8.3/15.0
Cash flow +6.7/30.0
Schools +4.6/10.0
Condition / age +4.0/5.0
Livability +3.9/5.0
Rent growth +3.4/5.0
1% rule +1.9/10.0
DSCR +0.9/10.0
Appreciation +0.0/10.0

$419,990

489 Hundred Acre Dr · Waxahachie, TX 75165

5 bd · 4.0 ba · 2,683 sqft · SingleFamily · 59 Days on market

Built 2026 Good condition 7,200 sqft lot Garage $157/sqft · at area comps Est $428k · at est. $50/mo HOA · 2% of rent ↓ 1% since listing

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks

MLS# 21297534 - Built by Trophy Signature Homes - Jun 2026 completion! ~ Perennially popular, the Masters boasts everything you could want in a home and more. Offering even more space, the five-bedroom design is sure to be the go-to home for holiday dinners with a family room large enough to provide for abundant seating. The island kitchen is equipped for cooking in full swing, turning out everything from canapes to a turkey with all the trimmings. Boasting a game room, the upstairs is an entertainer's paradise. If you don't need all five bedrooms, it's easy to turn one or two into a home office.

Key facts

7,200 sq ft lot
2 garage spots
Community pool

Neighborhood map

Property Rental comp Retail Costco Walmart Transit Schools Stadiums Fortune 500 · Circle radius: 6.0 mi

Loading POIs…

What this means for you Summary

Snapshot

This is a 5-bed/4.0-bath single-family listed at $420k. Condition is rated good.

Deal economics

At list price, monthly cash flow is $-679 ($-8k/yr) — negative.
To cash-flow at today's rent, offer at most $322k (23.4% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $288k (31.5% below list).
Recommended offer: $288k (31.5% below list) — sets the bar for 1% rule.
Cap rate 4.4% vs local median 3.2% in Waxahachie — 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 78/100 on livability (#71 in TX, #2,592 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment A-; Watch: commute F.
Waxahachie ISD (suburban): math 45% / reading 44% proficiency, ranked #253 of 826 in TX (top 31%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
Zoned schools: Shackelford El (math 56% / reading 52%, grade C, #664 of 4,322 statewide, top 16%, 476 students, 42% FRL); Howard J H (math 45% / reading 41%, grade D-, #540 of 1,662 statewide, top 33%, 758 students, 49% FRL); Waxahachie H S (math 38% / reading 46%, grade F, #730 of 1,632 statewide, top 47%, 2,963 students, 45% FRL) — zoned schools at 45% FRL track the district average.
Market conditions: Rents rising (+3.4%/yr); 1068 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 69d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 92% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 3,016 units permitted in Ellis County in 2024 (20 in 5+ unit buildings).
This rent runs 40% of the median local income ($86k/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 $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
Ellis County population projected at +36% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

It's been on market 59 days — a 3% lower offer ($407k) is reasonable based on typical stale-listing flexibility.

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 $287,786 (31.5% below list)

Questions for the listing agent

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?
It's been on market 59 days. Have you received any prior offers? Is the seller open to a 31% concession, seller financing, or rate buy-down credit?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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?
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.
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.
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: 0.69% ✗
Cap rate: 4.35%
Cash-on-cash: -6.93%
DSCR: 0.69
GRM: 12.2

CMA / ARV

ARV (median comp): $427,695
List price: $419,990
Delta: -0.52%
Verdict: FAIR
Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
488 Hundred Acre Dr	0.03mi	4/3.0 (-1)	2,653 (-1%)	1mo	$434,990	$164	86
481 Hocking Hills Dr	0.06mi	4/3.0 (-1)	2,653 (-1%)	0mo	$434,990	$164	86
488 Hocking Hills Dr	0.09mi	4/3.0 (-1)	2,667 (-1%)	1mo	$434,990	$163	85
449 Hundred Acre Dr	0.11mi	4/3.0 (-1)	2,653 (-1%)	2mo	$434,990	$164	82
464 Hundred Acre Dr	0.08mi	5/4.0	2,956 (+10%)	1mo	$414,990	$140	79
473 Hundred Acre Dr	0.05mi	5/4.0	2,986 (+11%)	2mo	$419,990	$141	78
480 Hundred Acre Dr	0.04mi	4/3.0 (-1)	2,466 (-8%)	1mo	$404,990	$164	75
492 Hundred Acre Dr	0.03mi	4/3.0 (-1)	2,447 (-9%)	1mo	$399,990	$163	74
416 Lost Creek Trl	0.35mi	5/4.0	2,865 (+7%)	2mo	$444,900	$155	71
445 Hundred Acre Dr	0.13mi	4/3.0 (-1)	2,444 (-9%)	1mo	$394,990	$162	70
1879 Silver Birch Rd	0.70mi	4/3.0 (-1)	2,597 (-3%)	0mo	$425,000	$164	52
577 Red Maple Rd	0.58mi	4/2.5 (-1)	2,519 (-6%)	1mo	$430,000	$171	51

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 · 3.4% rent growth · sell at horizon

5-year hold

IRR: -27.8%
Equity multiple: 0.06×
Total profit: $-110,062
Equity at exit: $62,622

10-year hold

IRR: -24.9%
Equity multiple: -0.25×
Total profit: $-146,410
Equity at exit: $36,313

Cash invested: $117,597 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 76 active · 37 under contract
Months of supply: 7.2 mo (14%/mo absorbed)
Median asking: $459,900 ($171/sqft)
Median days on market: 78 d
This list price: 28% of active listings are priced below it
ARV vs active asking: -6.6% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 75165

Home prices YoY: -24.5%
Rents YoY: 3.4%
Active inventory: 1068
Price-to-rent: 12.2×

Monthly cashflow live

Estimated rent: $2,878 high interval (Pro) →
Mortgage (P&I): −$2,202
Tax est. 1.5%: −$525 /mo · $6,300/yr
Insurance: −$175
HOA: −$50
Lot rent: −$0
Vacancy / Maint / Mgmt: −$604
Net cashflow: $-679

Break-even live

Break-even rent $3,737

Max offer price $321,745

Occupancy floor —

Sensitivity live

Price	-10% $-389	-5% $-534	+0% $-679	+5% $-824	+10% $-969
Rent	-10% $-906	-5% $-793	+0% $-679	+5% $-565	+10% $-452
Rate	-1.0pp $-467	-0.5pp $-572	base $-679	+0.5pp $-788	+1.0pp $-898

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: $104,998
Closing costs: $12,600
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
425 Leopold Trl Waxahachie, TX	4.0	3.0	2185	$2,625	$1.20	12d	1	0.19mi
152 Aucuba Ln Waxahachie, TX	4.0	2.0	2140	$2,795	$1.31	34d	1	0.65mi
116 Aucuba Ln Waxahachie, TX	4.0	2.0	2140	$2,850	$1.33	92d	1	0.66mi
2186 Liriope Ln Waxahachie, TX	4.0	3.0	2590	$2,829	$1.09	71d	1	0.73mi
334 Sahara Dr Waxahachie, TX	4.0	2.5	2254	$2,895	$1.28	48d	1	0.90mi
128 Jennings Dr Waxahachie, TX	4.0	2.0	1837	$2,450	$1.33	38d	1	1.02mi
508 Bush Ave Waxahachie, TX	5.0	3.5	3269	$3,750	$1.15	69d	1	1.19mi
1610 Wildflower Dr Waxahachie, TX	4.0	2.5	3042	$3,100	$1.02	54d	1	1.22mi
404 Southhill Dr Waxahachie, TX	4.0	3.5	3126	$3,500	$1.12	92d	1	1.28mi
1566 Country Crest Dr Waxahachie, TX	4.0	2.5	2568	$2,900	$1.13	92d	1	1.34mi
215 Nottingham Dr Unit 1019588P Waxahachie, TX	4.0	2.0	2055	$12,090	$5.88	71d	1	1.44mi
215 Nottingham Dr Waxahachie, TX	4.0	2.0	2065	$9,750	$4.72	71d	1	1.44mi
229 Silver Spur Dr Waxahachie, TX	4.0	2.0	2146	$2,496	$1.16	42d	1	1.45mi

Property features AI

Finance

Other: Community features: community pool, park, playgroundEnergy-efficient features include efficient appliances, HVAC, insulation, lighting, low-flow fixtures, mechanical fresh air, programmable thermostat, water heater, energy-efficient windows, rain/freeze sensors, and water-smart landscaping
Financial info: No second mortgageLoan type: Treat as clear
HOA & community: Mandatory HOA (Dove Hollow)Annual association fee with management fees includedAnnual HOA feeHOA management: Neighborhood Management, Inc.

Exterior

Parking: Two covered parking spacesTwo-car garage with garage door opener and side-by-side layout (approx. 20' x 20')
Security: Smoke detectorsCarbon monoxide detectors
Utilities: Community mailboxCurbs and sidewalksNot in a municipal utility district
Home design: Single-family residenceTwo-storyNew construction (incomplete)Located in Dove Hollow subdivision
Construction: Brick, rock/stone and siding exteriorComposition roofSlab foundationYear built 2026Smart home features
Exterior features: Covered porch(es)Covered patio/porchPrivate yardGuttersExterior lightingWood backyard fencing

Interior

Kitchen: DishwasherDisposalElectric ovenGas cooktopMicrowaveTankless water heater
Bedrooms: Five bedrooms (primary bedroom on main level; other bedrooms on second level)
Flooring: CarpetLaminateTile
Bathrooms: Four full bathrooms
Heating & cooling: Central heatingCentral airCeiling fans
Interior features: Open floorplanCable TV availableHigh-speed internet availableWalk-in closetsThree living areasOne dining areaTen total roomsTwo levels
Laundry & utility: Full-size washer/dryer areaWasher hookupElectric dryer hookupUtility room

Listing history 50 events

2026-08-08

days on market $419,990 Active 59 DOM
2026-08-06

days on market $419,990 Active 57 DOM
2026-08-05

days on market $419,990 Active 56 DOM
2026-08-04

days on market $419,990 Active 55 DOM
2026-08-03

days on market $419,990 Active 54 DOM
2026-07-31

days on market $419,990 Active 51 DOM
2026-07-30

days on market $419,990 Active 50 DOM
2026-07-30

days on market $419,990 Active 49 DOM
2026-07-28

days on market $419,990 Active 48 DOM
2026-07-26

days on market $419,990 Active 46 DOM
2026-07-24

days on market $419,990 Active 44 DOM
2026-07-23

days on market $419,990 Active 43 DOM
2026-07-22

days on market $419,990 Active 42 DOM
2026-07-21

days on market $419,990 Active 41 DOM
2026-07-20

days on market $419,990 Active 40 DOM
2026-07-18

days on market $419,990 Active 38 DOM
2026-07-18

days on market $419,990 Active 37 DOM
2026-07-16

days on market $419,990 Active 36 DOM
2026-07-15

days on market $419,990 Active 35 DOM
2026-07-14

days on market $419,990 Active 34 DOM
2026-07-13

days on market $419,990 Active 33 DOM
2026-07-13

days on market $419,990 Active 32 DOM
2026-07-11

days on market $419,990 Active 31 DOM
2026-07-10

days on market $419,990 Active 30 DOM
2026-07-09

days on market $419,990 Active 29 DOM
2026-07-07

days on market $419,990 Active 27 DOM
2026-07-06

days on market $419,990 Active 26 DOM
2026-07-06

days on market $419,990 Active 25 DOM
2026-07-05

days on market $419,990 Active 24 DOM
2026-07-03

days on market $419,990 Active 23 DOM
2026-07-02

days on market $419,990 Active 22 DOM
2026-07-01

days on market $419,990 Active 21 DOM
2026-06-30

days on market $419,990 Active 20 DOM
2026-06-29

days on market $419,990 Active 19 DOM
2026-06-28

days on market $419,990 Active 18 DOM
2026-06-27

days on market $419,990 Active 17 DOM
2026-06-26

days on market $419,990 Active 16 DOM
2026-06-24

days on market $419,990 Active 14 DOM
2026-06-22

days on market $419,990 Active 12 DOM
2026-06-21

days on market $419,990 Active 11 DOM
2026-06-18

days on market $419,990 Active 8 DOM
2026-06-17

days on market $419,990 Active 7 DOM
2026-06-16

days on market $419,990 Active 6 DOM
2026-06-15

days on market $419,990 Active 5 DOM
2026-06-13

pricedays on market $419,990 Active 3 DOM
2026-06-13

remarks 603-char remark
2026-06-13

days on marketlisting id $425,490 Active 2 DOM
2026-06-09

days on market $425,490 Active 35 DOM
2026-06-08

days on market $425,490 Active 34 DOM
2026-06-07

days on market $425,490 Active 33 DOM

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

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 · 1 by 30 yrs out

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $34,534
− Mortgage interest: −$23,526
− Property taxes: −$6,300
− Insurance: −$2,100
− Repairs & maintenance: −$2,763
− Management: −$2,763
− HOA: −$600
− Depreciation: −$12,218
Taxable loss: −$15,735

Your marginal tax rate % combined federal + state — saved on this device

Est. tax savings @ 24.0%: +$3,776
After-tax cash flow: $-4,371/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 · 30 photos

Good 80/100 None rehab

This home is in excellent condition with a good condition score of 80. It is move-in ready with no repairs needed and minor maintenance items to address.

Value-add opportunities

Resale Paint the exterior — Enhances curb appeal and value ↑
Rental Replace the ceiling fan — Improves comfort and energy efficiency ↑

F Composite school gradezoned avg 46/100

Zoned Schools

Elementary Shackelford El C TX #664/4,322 Nat'l #10,700/41,679 Middle Howard J H D- TX #540/1,662 Nat'l #5,160/14,009 High Waxahachie H S F TX #730/1,632 Nat'l #7,572/17,239

Schools (NCES district)

District: Waxahachie ISD
NCES district ID: 4844730
Math proficiency: 45% ▼ -7.00%
Reading proficiency: 44% ▼ -6.00%
Median HH income: $59,434
Composite: 39.14/100
National rank: #4034
State rank: #253 of 826 in TX

B Composite livability gradescore 78/100

Livability — Waxahachie

Score: 78/100
State rank: #71
US rank: #2592

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

Census place: Waxahachie, TX
County: Ellis County · 194,556 people
City population: 67,417
Metro: Dallas-Fort Worth-Arlington, TX
Population (ZIP): 53,513
Household income: $86,391
Rent vs Own: 34.0% rent · 66.0% own
Severe rent burden: 14% of renters

Population outlook (Ellis County) Hauer SSP2

Today (2025): 194,556 people
By 2030: 209,679 · +7.8%
By 2040: 238,837 · +22.8%
By 2050: 265,451 · +36.4%
By 2075: 326,571 · +67.9%
By 2100: 362,156 · +86.1%

Race, ethnicity, and origin ACS 2023

Neighborhood character: Diverse neighborhood (Simpson 0.60)
Race & ethnicity: White 56% Hispanic / Latino 26% Black 14% Two or more races 13%
Hispanic origin (detail): Mexican 22%
Common ancestry: Slovak 2% Lithuanian 2% Italian 2%
Foreign-born: 7% · Canada
Languages at home: 84% English-only · Spanish 15%

Political lean MEDSL · Ellis

2024 margin: Solid R (+31.1) · D 34.0% · R 65.1%
2008→2024 swing: +11.2pp toward D · 2008: -42.2pp · 2024: -31.1pp
All cycles: 2024: R+31.1 2020: R+34.1 2016: R+45.4 2012: R+47.5 2008: R+42.2

Not yet ingested

Civics: —

Market trends

HPI YoY: ▼ -82.58%
Current HPI: 255.0247
Rent YoY: ▲ 3.40%
Metro: Dallas-Fort Worth-Arlington, 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
#8 Exxon Mobil Spring $349.6B #16 Chevron Houston $202.8B #28 Phillips 66 Houston $145.5B #34 Valero Energy San Antonio $124.0B #53 Energy Transfer Dallas $82.7B #75 ConocoPhillips Houston $57.0B #78 Enterprise Products Partners Houston $56.2B #92 Plains GP Holdings Houston $50.1B #134 HF Sinclair Dallas $29.6B #142 Occidental Petroleum Houston $26.3B #173 Targa Resources Houston $19.4B #188 Cheniere Energy Houston $17.6B #239 Kinder Morgan Houston $15.3B #419 APA Corporation Houston $8.6B #393 Cabot Oil & Gas Houston $7.9B #455 Coterra Energy Houston $5.8B
Technology	5	$198B
#44 Dell Technologies Round Rock $95.6B #87 Oracle Austin $53.0B #132 Hewlett Packard Enterprise Spring $30.1B #193 Texas Instruments Dallas $16.3B #406 Match Group Dallas $3.4B
Engineering / Construction	4	$72B
#228 Quanta Services Houston $23.7B #258 Jacobs Solutions Dallas $16.3B #318 AECOM Dallas $16.1B #279 Fluor Irving $16.1B
Energy Services	3	$60B
#136 Baker Hughes Houston $28.5B #154 Halliburton Houston $23.1B #368 Smith International Houston $8.4B
Utilities	3	$41B
#194 Vistra Irving $16.3B #211 NRG Energy Houston $15.4B #259 CenterPoint Energy Houston $9.4B
Healthcare	2	$330B
#9 McKesson Irving $309.0B #163 Tenet Healthcare Dallas $20.6B

Price history

-1.3% since first listed

2 events — show timeline

2026-06-13 Price Changed $419,990 NTREIS
2026-06-10 Listed $425,490 NTREIS

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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