331 Century Farm Dr · Barrett, TX 77532

$203,000

3 bd · 2.0 ba · 1,397 sqft · SingleFamily public records · 112 Days on market

Built 2024 Good condition 4,800 sqft lot $145/sqft · 16% below area Est $241k · 16% under $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).

• ARV discount +14.6/15.0
• Cash flow +6.7/30.0
• 1% rule +4.4/10.0
• Condition / age +4.0/5.0
• Schools +3.5/10.0
• Rent growth +2.9/5.0
• Livability +2.8/5.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

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

• 4,800 sq ft lot
• 2 garage spots
• Built 2024

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $203k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-326 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (24.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (5.7% below list).
• Recommended offer: $154k (24.1% below list) — sets the bar for cash-flow.
• Cap rate 4.4% vs local median 5.7% 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, schools F, amenities 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.
• Market conditions: Rents rising (+1.5%/yr); 1188 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 $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 112 days — a 9% lower offer ($185k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price.

Recommended offer $154,035 (24.1% 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. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.94% ✗
• Cap rate: 4.37%
• Cash-on-cash: -6.88%
• DSCR: 0.69
• GRM: 8.8

CMA / ARV

• ARV (median comp): $241,272
• List price: $203,000
• Delta: -15.86%
• 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 Gristmill Grange Dr	0.11mi	3/2.0	1,388 (-1%)	6mo	$234,900	$169	89
11503 Gristmill Grange Dr	0.14mi	3/2.0	1,388 (-1%)	5mo	$237,900	$171	89
430 Harrison Hope Dr	0.19mi	3/2.0	1,388 (-1%)	4mo	$214,900	$155	87
426 Harrison Hope Dr	0.18mi	3/2.0	1,288 (-8%)	2mo	$199,900	$155	77
454 Harrison Hope Dr	0.23mi	3/2.0	1,288 (-8%)	6mo	$229,900	$178	72
11626 Heritage Wind Dr	0.15mi	4/2.0 (+1)	1,582 (+13%)	2mo	$252,900	$160	64
414 Harrison Hope Dr	0.16mi	4/2.0 (+1)	1,582 (+13%)	2mo	$244,900	$155	63
438 Harrison Hope Dr	0.20mi	4/2.0 (+1)	1,582 (+13%)	4mo	$239,900	$152	60
446 Harrison Hope Dr	0.22mi	4/2.0 (+1)	1,582 (+13%)	5mo	$244,900	$155	59
462 Harrison Hope Dr	0.24mi	4/2.0 (+1)	1,582 (+13%)	5mo	$249,900	$158	57
222 Arcadian Dr	0.73mi	4/2.0 (+1)	1,438 (+3%)	4mo	$199,999	$139	53
510 Cypress Ave	0.74mi	3/2.0	1,324 (-5%)	6mo	$199,900	$151	52

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: -30.4%
• Equity multiple: 0.01×
• Total profit: $-56,251
• Equity at exit: $30,268

10-year hold

• IRR: -43.8%
• Equity multiple: -0.51×
• Total profit: $-86,002
• Equity at exit: $17,552

Cash invested: $56,840 (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: 1188
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,915 medium
• Mortgage (P&I): −$1,065
• Tax from tax record: −$642 /mo · $7,702/yr
• Insurance: −$85
• HOA: −$48
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-326

Break-even live

Break-even rent $2,328

Max offer price $154,035

Occupancy floor —

Sensitivity live

Price	-10% $-211	-5% $-269	+0% $-326	+5% $-384	+10% $-441
Rent	-10% $-477	-5% $-402	+0% $-326	+5% $-250	+10% $-175
Rate	-1.0pp $-224	-0.5pp $-274	base $-326	+0.5pp $-379	+1.0pp $-432

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: $50,750
• Closing costs: $6,090
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $48 · $576/yr

Listing history 17 events

1. 2026-06-18
   days on market $203,000 Active 112 DOM
2. 2026-06-17
   days on market $203,000 Active 111 DOM
3. 2026-06-16
   days on market $203,000 Active 110 DOM
4. 2026-06-15
   days on market $203,000 Active 109 DOM
5. 2026-06-13
   days on market $203,000 Active 107 DOM
6. 2026-06-09
   days on market $203,000 Active 103 DOM
7. 2026-06-08
   days on market $203,000 Active 102 DOM
8. 2026-06-07
   days on market $203,000 Active 101 DOM
9. 2026-06-04
   days on market $203,000 Active 98 DOM
10. 2026-06-03
    days on market $203,000 Active 97 DOM
11. 2026-06-02
    days on market $203,000 Active 96 DOM
12. 2026-06-01
    days on market $203,000 Active 95 DOM
13. 2026-05-31
    days on market $203,000 Active 94 DOM
14. 2026-02-26
    listed $203,000 Active 634-char remark

    Show marketing remark (634 chars)

    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!

15. 2025-06-30
    soldstatus
16. 2025-02-26
    soldstatus
17. 2024-10-02
    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: $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.

Taxation est. · year 1

• Rental income: $22,980
• − Mortgage interest: −$11,371
• − Property taxes: −$7,702
• − Insurance: −$1,015
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − HOA: −$576
• − Depreciation: −$5,905
• Taxable loss: −$7,266
• Est. tax savings @ 24.0%: +$1,744
• After-tax cash flow: $-2,169/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

Renovation cost estimate screening

Value-add ROI direction

• 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 ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

4 events — show timeline

• 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.