23734 Canyon Lake Dr · Spring, TX 77373

$210,000

3 bd · 2.0 ba · 1,613 sqft · SingleFamily public records · 23 Days on market

Built 1983 7,196 sqft lot $130/sqft · at area comps Est $214k · at est. $43/mo HOA · 2% 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 +14.5/30.0
• ARV discount +8.3/15.0
• 1% rule +5.8/10.0
• DSCR +4.4/10.0
• Livability +3.3/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious corner lot with 3 bedrooms and 2 full baths. Recessed angled front entry allows for privacy and shelter from weather. Main foyer opens into a huge living area with high ceilings, wood burning fireplace, and loads of natural light. Rich dark cabinetry fills the kitchen and allows for plenty of storage. Granite counters, new backsplash and a cook friendly space are ready for you to create culinary magic. A spacious breakfast area is just off the kitchen and open to living area. Primary bedroom has large windows. Primary bathroom has modular dual sinks making it a modern retreat. Another 2 bedrooms with good sized closets are just down the hall. Secondary bathroom features a coordinated modular sink unit as well as a tub/shower combo. Another sturdy oak tree is a feature of the privacy fenced back yard as well as a covered patio with access to both the primary bedroom and the living area. Additional feature of home is a large driveway perfect for guests and a 2 car garage.

Key facts

• Rich dark cabinetry
• Natural light
• Huge living area

Tags

• CORNER LOT
• HUGE LIVING AREA
• WOOD BURNING FIREPLACE
• NATURAL LIGHT
• RICH DARK CABINETRY
• GRANITE COUNTERS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-21 ($-249/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (1.7% below list).
• Meets the 1% rule at list price ($2k rent vs $210k).
• Recommended offer: $206k (1.7% below list) — sets the bar for cash-flow.
• Cap rate 6.6% vs local median 4.5% in Spring — 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 66/100 on livability (#635 in TX) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, employment B; Watch: schools C-, crime D, amenities F.
• Spring ISD (suburban): math 19% / reading 26% proficiency, ranked #730 of 826 in TX (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-0.3%/yr); 599 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 31% of the median local income ($89k/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.
• 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 ($207k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago 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.
• Current owner paid $70k; list at $210k implies a 202% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.0% of price; flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $206,331 (1.7% 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. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. 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?
8. 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.
9. 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.
10. 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: 6.55%
• Cash-on-cash: 0.93%
• DSCR: 1.04
• GRM: 7.7

CMA / ARV

• ARV (median comp): $213,885
• List price: $210,000
• Delta: -1.82%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23538 Canyon Lake Dr	0.17mi	4/2.0 (+1)	1,544 (-4%)	1mo	$109,000	$71	79
2330 Piddler Dr	0.27mi	3/2.0	1,527 (-5%)	22mo	$259,500	$170	60
23614 Summer Pine Dr	0.61mi	3/2.0	1,467 (-9%)	12mo	$240,000	$164	46
23710 Prairie Bird Dr	0.63mi	3/2.5	1,789 (+11%)	8mo	$185,000	$103	44

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.2%
• Equity multiple: 0.29×
• Total profit: $-41,760
• Equity at exit: $31,312

10-year hold

• IRR: -27.3%
• Equity multiple: -0.07×
• Total profit: $-62,782
• Equity at exit: $18,157

Cash invested: $58,800 (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 77373

• Rents YoY: -0.3%
• Active inventory: 599
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,275 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$520 /mo · $6,241/yr
• Insurance: −$88
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$43
• Vacancy / Maint / Mgmt: −$478
• Net cashflow: $-21

Break-even live

Break-even rent $2,302

Max offer price $206,331

Occupancy floor 96%

Sensitivity live

Price	-10% $98	-5% $39	+0% $-21	+5% $-80	+10% $-140
Rent	-10% $-201	-5% $-111	+0% $-21	+5% $69	+10% $159
Rate	-1.0pp $85	-0.5pp $33	base $-21	+0.5pp $-75	+1.0pp $-131

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2911 Cypress Island Dr Houston, TX	4.0	2.0	2240	$1,961	$0.88	0d	1	1.49mi

HOA detail

• Monthly dues: $43 · $516/yr

Listing history 18 events

1. 2026-05-15
   status Pending 993-char remark

   Show marketing remark (993 chars)

   Spacious corner lot with 3 bedrooms and 2 full baths. Recessed angled front entry allows for privacy and shelter from weather. Main foyer opens into a huge living area with high ceilings, wood burning fireplace, and loads of natural light. Rich dark cabinetry fills the kitchen and allows for plenty of storage. Granite counters, new backsplash and a cook friendly space are ready for you to create culinary magic. A spacious breakfast area is just off the kitchen and open to living area. Primary bedroom has large windows. Primary bathroom has modular dual sinks making it a modern retreat. Another 2 bedrooms with good sized closets are just down the hall. Secondary bathroom features a coordinated modular sink unit as well as a tub/shower combo. Another sturdy oak tree is a feature of the privacy fenced back yard as well as a covered patio with access to both the primary bedroom and the living area. Additional feature of home is a large driveway perfect for guests and a 2 car garage.

2. 2026-05-08
   status Pending 993-char remark

   Show marketing remark (993 chars)

   Spacious corner lot with 3 bedrooms and 2 full baths. Recessed angled front entry allows for privacy and shelter from weather. Main foyer opens into a huge living area with high ceilings, wood burning fireplace, and loads of natural light. Rich dark cabinetry fills the kitchen and allows for plenty of storage. Granite counters, new backsplash and a cook friendly space are ready for you to create culinary magic. A spacious breakfast area is just off the kitchen and open to living area. Primary bedroom has large windows. Primary bathroom has modular dual sinks making it a modern retreat. Another 2 bedrooms with good sized closets are just down the hall. Secondary bathroom features a coordinated modular sink unit as well as a tub/shower combo. Another sturdy oak tree is a feature of the privacy fenced back yard as well as a covered patio with access to both the primary bedroom and the living area. Additional feature of home is a large driveway perfect for guests and a 2 car garage.

3. 2026-04-21
   listed $210,000 Active 993-char remark

   Show marketing remark (993 chars)

   Spacious corner lot with 3 bedrooms and 2 full baths. Recessed angled front entry allows for privacy and shelter from weather. Main foyer opens into a huge living area with high ceilings, wood burning fireplace, and loads of natural light. Rich dark cabinetry fills the kitchen and allows for plenty of storage. Granite counters, new backsplash and a cook friendly space are ready for you to create culinary magic. A spacious breakfast area is just off the kitchen and open to living area. Primary bedroom has large windows. Primary bathroom has modular dual sinks making it a modern retreat. Another 2 bedrooms with good sized closets are just down the hall. Secondary bathroom features a coordinated modular sink unit as well as a tub/shower combo. Another sturdy oak tree is a feature of the privacy fenced back yard as well as a covered patio with access to both the primary bedroom and the living area. Additional feature of home is a large driveway perfect for guests and a 2 car garage.

4. 2022-02-03
   price $2,100
5. 2022-01-04
   soldstatus
6. 2022-01-01
   status Pending 707-char remark

   Show marketing remark (707 chars)

   Back up offers only Welcome to lots of natural light from the updated Windows (2016) with life time warranty. Home has been recently painted and new carpet installed in living room and master. Kitchen includes new granite, backsplash, sink, microwave, Fridge included(2019) and stove(2019). Open concept to large living area with a plaster finished fireplace. Both bathrooms have been retiled, new vanities in master with matching mirrors and new light fixtures. New vanity in hall bath also. Ceiling fans are included in every room with a 16 seer HVAC. Large covered patio leading fenced backyard that includes kids playset. Back half of roof has been replaced in 2021.Huge oak trees in front and back.

7. 2021-12-31
   status Option Pending 707-char remark

   Show marketing remark (707 chars)

   Back up offers only Welcome to lots of natural light from the updated Windows (2016) with life time warranty. Home has been recently painted and new carpet installed in living room and master. Kitchen includes new granite, backsplash, sink, microwave, Fridge included(2019) and stove(2019). Open concept to large living area with a plaster finished fireplace. Both bathrooms have been retiled, new vanities in master with matching mirrors and new light fixtures. New vanity in hall bath also. Ceiling fans are included in every room with a 16 seer HVAC. Large covered patio leading fenced backyard that includes kids playset. Back half of roof has been replaced in 2021.Huge oak trees in front and back.

8. 2021-12-30
   soldstatus Sold 707-char remark

   Show marketing remark (707 chars)

   Back up offers only Welcome to lots of natural light from the updated Windows (2016) with life time warranty. Home has been recently painted and new carpet installed in living room and master. Kitchen includes new granite, backsplash, sink, microwave, Fridge included(2019) and stove(2019). Open concept to large living area with a plaster finished fireplace. Both bathrooms have been retiled, new vanities in master with matching mirrors and new light fixtures. New vanity in hall bath also. Ceiling fans are included in every room with a 16 seer HVAC. Large covered patio leading fenced backyard that includes kids playset. Back half of roof has been replaced in 2021.Huge oak trees in front and back.

9. 2021-12-12
   status Pending 707-char remark

   Show marketing remark (707 chars)

   Back up offers only Welcome to lots of natural light from the updated Windows (2016) with life time warranty. Home has been recently painted and new carpet installed in living room and master. Kitchen includes new granite, backsplash, sink, microwave, Fridge included(2019) and stove(2019). Open concept to large living area with a plaster finished fireplace. Both bathrooms have been retiled, new vanities in master with matching mirrors and new light fixtures. New vanity in hall bath also. Ceiling fans are included in every room with a 16 seer HVAC. Large covered patio leading fenced backyard that includes kids playset. Back half of roof has been replaced in 2021.Huge oak trees in front and back.

10. 2021-12-09
    status Option Pending 707-char remark

    Show marketing remark (707 chars)

    Back up offers only Welcome to lots of natural light from the updated Windows (2016) with life time warranty. Home has been recently painted and new carpet installed in living room and master. Kitchen includes new granite, backsplash, sink, microwave, Fridge included(2019) and stove(2019). Open concept to large living area with a plaster finished fireplace. Both bathrooms have been retiled, new vanities in master with matching mirrors and new light fixtures. New vanity in hall bath also. Ceiling fans are included in every room with a 16 seer HVAC. Large covered patio leading fenced backyard that includes kids playset. Back half of roof has been replaced in 2021.Huge oak trees in front and back.

11. 2021-11-16
    status Active 707-char remark

    Show marketing remark (707 chars)

    Back up offers only Welcome to lots of natural light from the updated Windows (2016) with life time warranty. Home has been recently painted and new carpet installed in living room and master. Kitchen includes new granite, backsplash, sink, microwave, Fridge included(2019) and stove(2019). Open concept to large living area with a plaster finished fireplace. Both bathrooms have been retiled, new vanities in master with matching mirrors and new light fixtures. New vanity in hall bath also. Ceiling fans are included in every room with a 16 seer HVAC. Large covered patio leading fenced backyard that includes kids playset. Back half of roof has been replaced in 2021.Huge oak trees in front and back.

12. 2021-10-13
    status Pending 707-char remark

    Show marketing remark (707 chars)

    Back up offers only Welcome to lots of natural light from the updated Windows (2016) with life time warranty. Home has been recently painted and new carpet installed in living room and master. Kitchen includes new granite, backsplash, sink, microwave, Fridge included(2019) and stove(2019). Open concept to large living area with a plaster finished fireplace. Both bathrooms have been retiled, new vanities in master with matching mirrors and new light fixtures. New vanity in hall bath also. Ceiling fans are included in every room with a 16 seer HVAC. Large covered patio leading fenced backyard that includes kids playset. Back half of roof has been replaced in 2021.Huge oak trees in front and back.

13. 2021-10-03
    price $220,000 707-char remark

    Show marketing remark (707 chars)

    Back up offers only Welcome to lots of natural light from the updated Windows (2016) with life time warranty. Home has been recently painted and new carpet installed in living room and master. Kitchen includes new granite, backsplash, sink, microwave, Fridge included(2019) and stove(2019). Open concept to large living area with a plaster finished fireplace. Both bathrooms have been retiled, new vanities in master with matching mirrors and new light fixtures. New vanity in hall bath also. Ceiling fans are included in every room with a 16 seer HVAC. Large covered patio leading fenced backyard that includes kids playset. Back half of roof has been replaced in 2021.Huge oak trees in front and back.

14. 2021-09-24
    price $225,000 707-char remark

    Show marketing remark (707 chars)

    Back up offers only Welcome to lots of natural light from the updated Windows (2016) with life time warranty. Home has been recently painted and new carpet installed in living room and master. Kitchen includes new granite, backsplash, sink, microwave, Fridge included(2019) and stove(2019). Open concept to large living area with a plaster finished fireplace. Both bathrooms have been retiled, new vanities in master with matching mirrors and new light fixtures. New vanity in hall bath also. Ceiling fans are included in every room with a 16 seer HVAC. Large covered patio leading fenced backyard that includes kids playset. Back half of roof has been replaced in 2021.Huge oak trees in front and back.

15. 2021-09-24
    listed $215,000 Active 707-char remark

    Show marketing remark (707 chars)

    Back up offers only Welcome to lots of natural light from the updated Windows (2016) with life time warranty. Home has been recently painted and new carpet installed in living room and master. Kitchen includes new granite, backsplash, sink, microwave, Fridge included(2019) and stove(2019). Open concept to large living area with a plaster finished fireplace. Both bathrooms have been retiled, new vanities in master with matching mirrors and new light fixtures. New vanity in hall bath also. Ceiling fans are included in every room with a 16 seer HVAC. Large covered patio leading fenced backyard that includes kids playset. Back half of roof has been replaced in 2021.Huge oak trees in front and back.

16. 2004-04-05
    soldstatus
17. 1998-07-02
    soldstatus
18. 1998-07-01
    soldstatus $69,500

ⓘ 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: $6,241 · $520/mo
• Projected year-2 tax: $6,241 · $520/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 d/yr by 30 yrs out
• 💨 Wind 8/10 Severe 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $27,305
• − Mortgage interest: −$11,763
• − Property taxes: −$6,241
• − Insurance: −$1,847
• − Repairs & maintenance: −$2,184
• − Management: −$2,184
• − HOA: −$516
• − Depreciation: −$6,109
• Taxable loss: −$3,541
• Est. tax savings @ 24.0%: +$850
• After-tax cash flow: $601/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: Spring ISD
• NCES district ID: 4841220
• Math proficiency: 19% ▼ -13.00%
• Reading proficiency: 26% ▼ -6.00%
• Median HH income: $51,584
• Composite: 20.12/100
• National rank: #8643
• State rank: #730 of 826 in TX

Livability — Spring

• Score: 66/100
• State rank: #635
• US rank: #12101

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Spring, TX
• County: Harris County · 4,702,590 people
• City population: 430,529
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 69,739
• Household income: $88,617
• Rent vs Own: 27.2% rent · 72.8% own
• Severe rent burden: 1050.0

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 0.69)
• Race & ethnicity: Hispanic / Latino 40% White 30% Black 23% Two or more races 22% Asian 3%
• Hispanic origin (detail): Mexican 27% Puerto Rican 2% Cuban 2% Dominican 2%
• Common ancestry: Lithuanian 2% Italian 1% Slovak 1%
• Foreign-born: 17% · Canada, Jamaica, Vietnam
• Languages at home: 64% English-only · Spanish 32% Vietnamese 1% Other Indo-European 1%

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: ▼ -142.98%
• Current HPI: 251.7231
• Rent YoY: ▼ -0.30%
• 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

+202.2% since first listed

18 events — show timeline

• 2026-05-15 Pending — HARMLS
• 2026-05-08 Pending — HARMLS
• 2026-04-21 Listed $210,000 HARMLS
• 2022-02-03 Price Changed $2,100 RENT.
• 2022-01-04 Sold (Public Records) — Public Records
• 2022-01-01 Pending — HARMLS
• 2021-12-31 Pending — HARMLS
• 2021-12-30 Sold (MLS) — HARMLS
• 2021-12-12 Pending — HARMLS
• 2021-12-09 Pending — HARMLS
• 2021-11-16 Relisted — HARMLS
• 2021-10-13 Pending — HARMLS
• 2021-10-03 Price Changed $220,000 HARMLS
• 2021-09-24 Price Changed $225,000 HARMLS
• 2021-09-24 Listed $215,000 HARMLS
• 2004-04-05 Sold (Public Records) — Public Records
• 1998-07-02 Sold (Public Records) — Public Records
• 1998-07-01 Sold (Public Records) $69,500 Public Records

Property tax history

+5.4%/yr

Latest (2025): $6,241 · +3.1% YoY. Source: county tax records.