11515 Heritage Wind Dr · Barrett, TX 77532

$240,900

3 bd · 2.0 ba · 1,388 sqft · Land · 23 Days on market

Built 2026 4,450 sqft lot $48/mo HOA · 3% of rent

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Why this score? — see what drove the D- 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 +12.7/30.0
• ARV discount +7.5/15.0
• DSCR +3.8/10.0
• Schools +3.5/10.0
• Rent growth +2.9/5.0
• 1% rule +2.8/10.0
• Livability +2.8/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

The attractive Aspen plan centers around a large open kitchen, complete with an island and a built-in pantry. An airy great room-ideal for relaxing and entertaining-is steps away, as is a dining area. There are three spacious bedrooms, including a primary suite with a walk-in closet and a private bath with dual vanities and a walk-in shower.

Key facts

• Built-in pantry
• Walk-in closet
• Private bath

Tags

• OPEN KITCHEN
• BUILT-IN PANTRY
• GREAT ROOM
• DINING AREA
• WALK-IN CLOSET
• PRIVATE BATH

Property features AI

Finance

• HOA & community: Community Solutions association; Annual association fee of $575

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer; Tankless water heater
• Home design: Residential property; Under construction (new construction); Slab foundation; Composition roof; Built in 2026
• Construction: Cement siding
• Exterior features: Fence (back yard); Sprinkler/irrigation

Interior

• Kitchen: Dishwasher; Gas oven; Gas range; Microwave; Refrigerator; Kitchen island; Granite counters; Pantry; Breakfast bar
• Bedrooms: 3 total rooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central electric air conditioning; Programmable thermostat
• Interior features: Breakfast bar; Double vanity; Granite counters; Kitchen island; Kitchen and family room combo; Pantry; Window treatments; Ceiling fans; Kitchen and dining combo; Programmable thermostat; Low emissivity windows; Window coverings; Tankless water heater
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer included; Dryer included

🏗️ New construction. The $240,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $244,764.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $241k.

Deal economics

• At list price, monthly cash flow is $-27 ($-318/yr) — negative.
• To cash-flow at today's rent, offer at most $240k (0.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (20.5% below list).
• Recommended offer: $192k (20.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 56/100 on livability (#1,335 in TX) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A-, crime B+; Watch: employment D, amenities F, commute F.
• Crosby ISD (rural): math 39% / reading 40% proficiency, ranked #369 of 826 in TX (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Crosby Middle (math 36% / reading 37%, grade F, #786 of 1,662 statewide, top 48%, 1,549 students, 60% FRL); Highpoint School East (Crosby) (20 students, 80% FRL) — zoned schools average 70% FRL vs 50% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.5%/yr); 1172 active listings in the ZIP; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Harris County population projected at +47% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($237k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $191,595 (20.5% below list)

Questions for the listing agent

1. 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?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
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: 0.78% ✗
• Cap rate: 6.16%
• Cash-on-cash: -0.46%
• DSCR: 0.98
• GRM: 10.6

CMA / ARV

• ARV (median comp): $244,764
• List price: $240,900
• Delta: -1.58%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.48% rent growth · sell at horizon

5-year hold

• IRR: -18.7%
• Equity multiple: 0.35×
• Total profit: $-44,303
• Equity at exit: $36,495

10-year hold

• IRR: -14.2%
• Equity multiple: 0.23×
• Total profit: $-52,504
• Equity at exit: $21,163

Cash invested: $68,534 (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 77532

• Home prices YoY: -28.6%
• Rents YoY: 1.5%
• Active inventory: 1172
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,916 medium
• Mortgage (P&I): −$1,284
• Tax from tax record: −$107 /mo · $1,279/yr
• Insurance: −$102
• HOA: −$48
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-27

Break-even live

Break-even rent $1,950

Max offer price $240,075

Occupancy floor 96%

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: $61,191
• Closing costs: $7,343
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $48 · $576/yr

Listing history 16 events

1. 2026-06-18
   days on market $240,900 Active 23 DOM
2. 2026-06-17
   days on market $240,900 Active 22 DOM
3. 2026-06-16
   days on market $240,900 Active 21 DOM
4. 2026-06-15
   days on market $240,900 Active 20 DOM
5. 2026-06-13
   days on market $240,900 Active 18 DOM
6. 2026-06-09
   days on market $240,900 Active 14 DOM
7. 2026-06-08
   days on market $240,900 Active 13 DOM
8. 2026-06-07
   days on market $240,900 Active 12 DOM
9. 2026-06-04
   days on market $240,900 Active 9 DOM
10. 2026-06-03
    days on market $240,900 Active 8 DOM
11. 2026-06-02
    days on market $240,900 Active 7 DOM
12. 2026-06-01
    days on market $240,900 Active 6 DOM
13. 2026-05-31
    days on market $240,900 Active 5 DOM
14. 2026-05-14
    status Active 194-char remark

    Show marketing remark (343 chars)

    The attractive Aspen plan centers around a large open kitchen, complete with an island and a built-in pantry. An airy great room-ideal for relaxing and entertaining-is steps away, as is a dining area. There are three spacious bedrooms, including a primary suite with a walk-in closet and a private bath with dual vanities and a walk-in shower.

15. 2026-05-08
    historical 194-char remark

    Show marketing remark (343 chars)

    The attractive Aspen plan centers around a large open kitchen, complete with an island and a built-in pantry. An airy great room-ideal for relaxing and entertaining-is steps away, as is a dining area. There are three spacious bedrooms, including a primary suite with a walk-in closet and a private bath with dual vanities and a walk-in shower.

16. 2026-04-29
    listed $240,900 Active 194-char remark

    Show marketing remark (343 chars)

    The attractive Aspen plan centers around a large open kitchen, complete with an island and a built-in pantry. An airy great room-ideal for relaxing and entertaining-is steps away, as is a dining area. There are three spacious bedrooms, including a primary suite with a walk-in closet and a private bath with dual vanities and a walk-in shower.

ⓘ 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: $1,279 · $107/mo
• Projected year-2 tax: $4,408 · $367/mo
• Expected delta: +$3,129/yr (+$261/mo · 244.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $22,991
• − Mortgage interest: −$13,711
• − Property taxes: −$1,279
• − Insurance: −$1,224
• − Repairs & maintenance: −$1,839
• − Management: −$1,839
• − HOA: −$576
• − Depreciation: −$7,120
• Taxable loss: −$4,597
• Est. tax savings @ 24.0%: +$1,103
• After-tax cash flow: $785/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: Crosby ISD
• NCES district ID: 4815750
• Math proficiency: 39% ▼ -13.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $61,079
• Composite: 35.14/100
• National rank: #5012
• State rank: #369 of 826 in TX

Livability — Barrett

• Score: 56/100
• State rank: #1335
• US rank: #22991

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Barrett, TX
• County: Harris County · 4,702,590 people
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 33,780
• Household income: $92,201
• Rent vs Own: 13.9% rent · 86.1% own
• Severe rent burden: 382.0

Population outlook (Harris County) Hauer SSP2

• Today (2025): 5,571,493 people
• By 2030: 6,089,821 · +9.3%
• By 2040: 7,142,806 · +28.2%
• By 2050: 8,185,864 · +46.9%
• By 2075: 10,574,329 · +89.8%
• By 2100: 12,109,958 · +117.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 54% Hispanic / Latino 31% Two or more races 16% Black 9%
• Hispanic origin (detail): Mexican 24%
• Common ancestry: Lithuanian 4% Romanian 3% Italian 2%
• Foreign-born: 10% · Canada
• Languages at home: 78% English-only · Spanish 21%

Political lean MEDSL · Harris

• 2024 margin: Lean D (+5.5) · D 52.0% · R 46.4% · Other 1.6%
• 2008→2024 swing: +3.9pp toward D · 2008: 1.6pp · 2024: 5.5pp
• All cycles: 2024: D+5.5 2020: D+13.3 2016: D+12.4 2012: D+0.1 2008: D+1.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -105.63%
• Current HPI: 264.0126
• Rent YoY: ▲ 1.48%
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-26 Listed $240,900 HARMLS
• 2026-05-14 Relisted — Zillow
• 2026-05-08 Delisted — Zillow
• 2026-04-29 Listed $240,900 Zillow

Property tax history

-4.7%/yr

Latest (2025): $1,279 · -4.7% YoY. Source: county tax records.