Is 331 Century Farm Dr in Barrett, TX a good investment?

CashFlowRE grades it D with a 4.7% cap rate and $-268/mo modeled cash flow at a $199,900 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 331 Century Farm Dr?

The modeled cap rate is 4.7% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,966/month, from CashFlowRE's rent model.

D Composite 41.6

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).

ARV discount +14.7/15.0
Cash flow +7.3/30.0
1% rule +4.8/10.0
Condition / age +4.0/5.0
Schools +3.7/10.0
Rent growth +2.9/5.0
Livability +2.8/5.0
DSCR +1.4/10.0
Appreciation +0.0/10.0

$199,900

331 Century Farm Dr · Barrett, TX 77532

3 bd · 2.0 ba · 1,397 sqft · SingleFamily public records · 79 Days on market

Built 2024 Good condition 4,800 sqft lot Garage $143/sqft · 16% below area Est $238k · 16% under $48/mo HOA · 2% of rent ↓ 2% since listing

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

Listing remarks

This beautiful 3-bedroom, 2-bathroom home, built in 2024, offers modern comfort with an open-concept layout perfect for everyday living and entertaining. Enjoy a bright living area, a stylish kitchen, and a primary suite with a private bath. Practically new and move-in ready! Located in Dayton Independent School District, nearby schools include Kimmie M. Brown Elementary, Woodrow Wilson Junior High School, and Dayton High School. Conveniently close to everyday essentials like Brookshire Brothers and Family Dollar, plus local dining and shopping along Hwy 90. Enjoy small-town charm with easy access to Houston area amenities!

Key facts

Split floorplan
Fenced-in backyard
4,800 sq ft lot

What this means for you Summary

Snapshot

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

Deal economics

At list price, monthly cash flow is $-268 ($-3k/yr) — negative.
To cash-flow at today's rent, offer at most $154k (22.9% below list).
To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $197k (1.6% below list).
Recommended offer: $154k (22.9% below list) — sets the bar for cash-flow.
Cap rate 4.7% vs local median 5.9% in Barrett — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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); 1919 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 108d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $6k 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 79 days — a 6% lower offer ($188k) is reasonable based on typical stale-listing flexibility.
2 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.

Risks & watch-outs

Watch-outs: property tax is 3.9% of price.

Recommended offer $154,035 (22.9% 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 79 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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: 0.98% ✗
Cap rate: 4.68%
Cash-on-cash: -5.75%
DSCR: 0.74
GRM: 8.5

CMA / ARV

ARV (median comp): $238,131
List price: $199,900
Delta: -16.05%
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
11515 Heritage Wind Dr	0.17mi	3/2.0	1,388 (-1%)	1mo	$199,900	$144	90
11627 Heritage Wind Dr	0.13mi	3/2.0	1,388 (-1%)	4mo	$229,900	$166	89
11611 Heritage Wind Dr	0.14mi	3/2.0	1,388 (-1%)	4mo	$239,900	$173	89
422 Harrison Hope Dr	0.18mi	3/2.0	1,388 (-1%)	4mo	$226,900	$163	87
11538 Heritage Wind Dr	0.17mi	3/2.0	1,288 (-8%)	1mo	$224,900	$175	78
11514 Heritage Wind Dr	0.18mi	3/2.0	1,288 (-8%)	1mo	$199,900	$155	77
426 Harrison Hope Dr	0.18mi	3/2.0	1,288 (-8%)	6mo	$199,900	$155	73
310 Crayfish Dr	0.07mi	4/2.0 (+1)	1,566 (+12%)	3mo	$220,000	$140	69
11502 Heritage Wind Dr	0.19mi	4/2.0 (+1)	1,582 (+13%)	3mo	$264,900	$167	61
11626 Heritage Wind Dr	0.15mi	4/2.0 (+1)	1,582 (+13%)	6mo	$252,900	$160	61
414 Harrison Hope Dr	0.16mi	4/2.0 (+1)	1,582 (+13%)	7mo	$244,900	$155	60
222 Arcadian Dr	0.73mi	4/2.0 (+1)	1,438 (+3%)	8mo	$199,999	$139	49

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 · 1.48% rent growth · sell at horizon

5-year hold

IRR: -28.3%
Equity multiple: 0.07×
Total profit: $-52,131
Equity at exit: $29,806

10-year hold

IRR: -36.9%
Equity multiple: -0.39×
Total profit: $-77,954
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 →

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

Active competition Active MLS

For sale now: 25 active · 26 under contract
Months of supply: 8.3 mo (12%/mo absorbed)
Median asking: $214,990 ($147/sqft)
Median days on market: 41 d
This list price: 12% of active listings are priced below it
ARV vs active asking: +15.7% above current asking $/sqft

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

ZIP-level market 77532

Home prices YoY: -28.6%
Rents YoY: 1.5%
Active inventory: 1919
Price-to-rent: 8.5×

Monthly cashflow live

Estimated rent: $1,966 medium interval (Pro) →
Mortgage (P&I): −$1,048
Tax from tax record: −$642 /mo · $7,702/yr
Insurance: −$83
HOA: −$48
Lot rent: −$0
Vacancy / Maint / Mgmt: −$413
Net cashflow: $-268

Break-even live

Break-even rent $2,306

Max offer price $154,035

Occupancy floor —

Sensitivity live

Price	-10% $-155	-5% $-212	+0% $-268	+5% $-325	+10% $-381
Rent	-10% $-423	-5% $-346	+0% $-268	+5% $-190	+10% $-113
Rate	-1.0pp $-167	-0.5pp $-217	base $-268	+0.5pp $-320	+1.0pp $-373

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
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 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11606 Prosperity Dr Crosby, TX	3.0	2.0	1288	$1,850	$1.44	10d	1	0.13mi
12215 Crosby Lynchburg Rd Crosby, TX	2.0	1.0	1092	$1,400	$1.28	107d	1	0.50mi
700 Farm to Market Road 1942 Unit 7A Crosby, TX	3.0	2.0	1024	$1,310	$1.28	113d	1	1.02mi

Property features AI

Finance

HOA & community: Community Solutions association with an annual fee of $575

Exterior

Parking: Attached garage with 2 parking spaces
Utilities: Public waterPublic sewer
Home design: Residential propertySingle-story (all bedrooms listed on first floor)
Construction: Built in 2024Cement sidingComposition roofSlab foundation
Exterior features: Cleared lot

Interior

Bedrooms: Primary bedroom on the first floor (approx. 14 x 12)Bedroom on the first floor (approx. 11 x 10)Bedroom on the first floor (approx. 10 x 10)
Bathrooms: Two full bathrooms
Heating & cooling: Central gas heatingCentral electric air conditioning
Interior features: Three total rooms

Listing history 50 events

2026-11-08

days on market $199,900 Active 79 DOM
2026-11-07

days on market $199,900 Active 78 DOM
2026-11-06

days on market $199,900 Active 77 DOM
2026-11-05

days on market $199,900 Active 76 DOM
2026-11-04

days on market $199,900 Active 75 DOM
2026-11-02

days on market $199,900 Active 73 DOM
2026-11-01

days on market $199,900 Active 72 DOM
2026-10-31

days on market $199,900 Active 71 DOM
2026-10-30

days on market $199,900 Active 70 DOM
2026-10-29

days on market $199,900 Active 69 DOM
2026-10-28

days on market $199,900 Active 68 DOM
2026-10-27

days on market $199,900 Active 67 DOM
2026-10-26

days on market $199,900 Active 66 DOM
2026-10-26

days on market $199,900 Active 65 DOM
2026-10-24

days on market $199,900 Active 64 DOM
2026-10-23

days on market $199,900 Active 63 DOM
2026-10-22

days on market $199,900 Active 62 DOM
2026-10-21

days on market $199,900 Active 61 DOM
2026-10-20

days on market $199,900 Active 60 DOM
2026-10-19

days on market $199,900 Active 59 DOM
2026-10-18

days on market $199,900 Active 58 DOM
2026-10-17

days on market $199,900 Active 57 DOM
2026-10-16

days on market $199,900 Active 56 DOM
2026-10-15

days on market $199,900 Active 55 DOM
2026-10-14

days on market $199,900 Active 54 DOM
2026-10-13

days on market $199,900 Active 53 DOM
2026-10-12

days on market $199,900 Active 52 DOM
2026-10-11

days on market $199,900 Active 51 DOM
2026-10-10

days on market $199,900 Active 50 DOM
2026-10-09

days on market $199,900 Active 49 DOM
2026-10-08

days on market $199,900 Active 48 DOM
2026-10-07

days on market $199,900 Active 47 DOM
2026-10-06

days on market $199,900 Active 46 DOM
2026-10-05

days on market $199,900 Active 45 DOM
2026-10-04

days on market $199,900 Active 44 DOM
2026-10-04

days on market $199,900 Active 43 DOM
2026-10-02

days on market $199,900 Active 42 DOM
2026-10-01

days on market $199,900 Active 41 DOM
2026-09-30

days on market $199,900 Active 40 DOM
2026-09-29

days on market $199,900 Active 39 DOM
2026-09-28

days on market $199,900 Active 38 DOM
2026-09-27

days on market $199,900 Active 37 DOM
2026-09-26

days on market $199,900 Active 36 DOM
2026-09-25

days on market $199,900 Active 35 DOM
2026-09-24

days on market $199,900 Active 34 DOM
2026-09-23

days on market $199,900 Active 33 DOM
2026-09-22

days on market $199,900 Active 32 DOM
2026-09-21

days on market $199,900 Active 31 DOM
2026-09-20

days on market $199,900 Active 30 DOM
2026-09-19

days on market $199,900 Active 29 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: $7,702 · $642/mo
Projected year-2 tax: $7,702 · $642/mo
Expected delta: $0/yr ($0/mo · 0.0%)

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

Nearby sold comps map

Loading sold comps map…

Walkable amenities ~0.75 mi

Loading nearby amenities…

Taxation est. · year 1

Rental income: $23,594
− Mortgage interest: −$11,198
− Property taxes: −$7,702
− Insurance: −$1,000
− Repairs & maintenance: −$1,888
− Management: −$1,888
− HOA: −$576
− Depreciation: −$5,815
Taxable loss: −$6,471

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

Est. tax savings @ 24.0%: +$1,553
After-tax cash flow: $-1,664/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 · 1 photo

Good 80/100 None rehab

This nearly new, move-in ready home in a desirable location offers modern comfort and is ready for immediate occupancy.

Value-add opportunities

Both Painting exterior and interior — Enhances curb appeal and interior aesthetics ↑
Both Landscaping improvements — Enhances curb appeal and adds value ↑
Both New flooring in bathrooms and kitchen — Improves functionality and aesthetics ↑
Both New lighting fixtures — Enhances interior aesthetics and functionality ↑

F Composite school gradezoned avg 36/100

Zoned Schools

Middle Crosby Middle F TX #786/1,662 Nat'l #7,065/14,009 High Highpoint School East (Crosby)

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

D Composite livability gradescore 56/100

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 · 5,571,493 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: 10% of renters

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%
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
#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

-1.5% since first listed

6 events — show timeline

2026-08-21 Listed $199,900 HARMLS
2026-06-20 Listing Removed — HARMLS
2026-02-26 Listed $203,000 HARMLS
2025-06-30 Sold (Public Records) — Public Records
2025-02-26 Sold (Public Records) — Public Records
2024-10-02 Sold (Public Records) — Public Records

Property tax history

+473.8%/yr

Latest (2025): $7,702 · +473.8% YoY. Source: county tax records.

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

Loading sold comps…