23346 Prairie Bird Dr · Spring, TX 77373

$180,000

3 bd · 2.0 ba · 1,152 sqft · SingleFamily public records · 82 Days on market

Built 1982 3,820 sqft lot $156/sqft · 5% below area Est $190k · 5% under $29/mo HOA · 1% of rent

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Why this score? — see what drove the C- 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 +21.0/30.0
• ARV discount +9.8/15.0
• 1% rule +7.2/10.0
• DSCR +6.7/10.0
• 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

Welcome to this charming and beautifully updated 1-story home in the established Cypress Trails of Timberlane community. This 3-bedroom, 2-bathroom residence offers 1,152 sq. ft. of move-in-ready living space, perfect for first-time buyers, downsizers, or investors. Inside, you’ll find a bright and open floor plan featuring high ceilings and a cozy wood-burning fireplace in the living area. Significant updates include a remodeled kitchen and primary bathroom (2021) and a roof replaced in 2018. The primary suite features a convenient tub/shower combo, and the home is equipped with solar screens and an energy-efficient thermostat for added comfort. The exterior boasts a fully fenced backyard with a covered patio, ideal for entertaining. Strategically located near Aldine Westfield, this home provides quick access to I-45, Hardy Toll Road, and Grand Parkway (99). Don't miss this opportunity for a modern home in a prime Spring location!

Key facts

• Covered patio
• Updated kitchen
• Solar screens

Tags

• UPDATED KITCHEN
• REMODELED PRIMARY BATHROOM
• WOOD BURNING FIREPLACE
• FULLY FENCED BACKYARD
• COVERED PATIO
• SOLAR SCREENS

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $169k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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; 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 $5k 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 82 days — a 6% lower offer ($169k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 4y 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 $44k; list at $180k implies a 304% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price.
• Climate carrying-cost: severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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.
8. 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.
9. 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: 1.22% ✓
• Cap rate: 7.99%
• Cash-on-cash: 6.06%
• DSCR: 1.27
• GRM: 6.8

CMA / ARV

• ARV (median comp): $189,512
• List price: $180,000
• Delta: -5.02%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.8%
• Equity multiple: 0.62×
• Total profit: $-19,200
• Equity at exit: $26,839

10-year hold

• IRR: -7.4%
• Equity multiple: 0.60×
• Total profit: $-19,971
• Equity at exit: $15,563

Cash invested: $50,400 (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: 6.8×

Monthly cashflow live

• Estimated rent: $2,195 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$432 /mo · $5,181/yr
• Insurance: −$75
• HOA: −$29
• Vacancy / Maint / Mgmt: −$461
• Net cashflow: $255

Break-even live

Break-even rent $1,873

Max offer price $180,000

Occupancy floor 83%

Sensitivity live

Price	-10% $357	-5% $306	+0% $255	+5% $204	+10% $153
Rent	-10% $81	-5% $168	+0% $255	+5% $341	+10% $428
Rate	-1.0pp $345	-0.5pp $301	base $255	+0.5pp $208	+1.0pp $161

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $29 · $348/yr

Listing history 25 events

1. 2026-06-21
   days on market $180,000 Active 82 DOM
2. 2026-06-18
   days on market $180,000 Active 79 DOM
3. 2026-06-17
   days on market $180,000 Active 78 DOM
4. 2026-06-16
   days on market $180,000 Active 77 DOM
5. 2026-06-15
   days on market $180,000 Active 76 DOM
6. 2026-06-13
   days on market $180,000 Active 74 DOM
7. 2026-06-13
   days on market $180,000 Active 73 DOM
8. 2026-06-09
   days on market $180,000 Active 70 DOM
9. 2026-06-08
   days on market $180,000 Active 69 DOM
10. 2026-06-07
    days on market $180,000 Active 68 DOM
11. 2026-06-04
    days on market $180,000 Active 65 DOM
12. 2026-06-03
    days on market $180,000 Active 64 DOM
13. 2026-06-02
    days on market $180,000 Active 63 DOM
14. 2026-06-01
    days on market $180,000 Active 62 DOM
15. 2026-05-31
    days on market $180,000 Active 61 DOM
16. 2026-03-31
    listed $180,000 Active 951-char remark

    Show marketing remark (951 chars)

    Welcome to this charming and beautifully updated 1-story home in the established Cypress Trails of Timberlane community. This 3-bedroom, 2-bathroom residence offers 1,152 sq. ft. of move-in-ready living space, perfect for first-time buyers, downsizers, or investors. Inside, you’ll find a bright and open floor plan featuring high ceilings and a cozy wood-burning fireplace in the living area. Significant updates include a remodeled kitchen and primary bathroom (2021) and a roof replaced in 2018. The primary suite features a convenient tub/shower combo, and the home is equipped with solar screens and an energy-efficient thermostat for added comfort. The exterior boasts a fully fenced backyard with a covered patio, ideal for entertaining. Strategically located near Aldine Westfield, this home provides quick access to I-45, Hardy Toll Road, and Grand Parkway (99). Don't miss this opportunity for a modern home in a prime Spring location!

17. 2023-01-13
    soldstatus Sold 647-char remark

    Show marketing remark (647 chars)

    This 1 story home would make the perfect starter home, downsize property, or investment property. The entire interior has just been painted so that it's move in ready for it's new owners. Located in Cypress Trails in Spring right off of Aldine Westfield makes it a solid location for access to major roads and highways like, 1960, I-45, Hwy 69, Hardy toll road, and tollway 99. The kitchen & primary bathroom was remodeled in 2021. Roof is from 2018. Please reach out to the listing agent for useful information regarding a program that this home qualifies for. Please don't let this opportunity pass you by. Get your showing scheduled today!

18. 2023-01-13
    soldstatus

    Show marketing remark (647 chars)

    This 1 story home would make the perfect starter home, downsize property, or investment property. The entire interior has just been painted so that it's move in ready for it's new owners. Located in Cypress Trails in Spring right off of Aldine Westfield makes it a solid location for access to major roads and highways like, 1960, I-45, Hwy 69, Hardy toll road, and tollway 99. The kitchen & primary bathroom was remodeled in 2021. Roof is from 2018. Please reach out to the listing agent for useful information regarding a program that this home qualifies for. Please don't let this opportunity pass you by. Get your showing scheduled today!

19. 2022-12-29
    status Pending, Continue to Show 647-char remark

    Show marketing remark (647 chars)

    This 1 story home would make the perfect starter home, downsize property, or investment property. The entire interior has just been painted so that it's move in ready for it's new owners. Located in Cypress Trails in Spring right off of Aldine Westfield makes it a solid location for access to major roads and highways like, 1960, I-45, Hwy 69, Hardy toll road, and tollway 99. The kitchen & primary bathroom was remodeled in 2021. Roof is from 2018. Please reach out to the listing agent for useful information regarding a program that this home qualifies for. Please don't let this opportunity pass you by. Get your showing scheduled today!

20. 2022-12-01
    status Pending 647-char remark

    Show marketing remark (647 chars)

    This 1 story home would make the perfect starter home, downsize property, or investment property. The entire interior has just been painted so that it's move in ready for it's new owners. Located in Cypress Trails in Spring right off of Aldine Westfield makes it a solid location for access to major roads and highways like, 1960, I-45, Hwy 69, Hardy toll road, and tollway 99. The kitchen & primary bathroom was remodeled in 2021. Roof is from 2018. Please reach out to the listing agent for useful information regarding a program that this home qualifies for. Please don't let this opportunity pass you by. Get your showing scheduled today!

21. 2022-11-23
    status Option Pending 647-char remark

    Show marketing remark (647 chars)

    This 1 story home would make the perfect starter home, downsize property, or investment property. The entire interior has just been painted so that it's move in ready for it's new owners. Located in Cypress Trails in Spring right off of Aldine Westfield makes it a solid location for access to major roads and highways like, 1960, I-45, Hwy 69, Hardy toll road, and tollway 99. The kitchen & primary bathroom was remodeled in 2021. Roof is from 2018. Please reach out to the listing agent for useful information regarding a program that this home qualifies for. Please don't let this opportunity pass you by. Get your showing scheduled today!

22. 2022-11-19
    listed $200,000 Active 647-char remark

    Show marketing remark (647 chars)

    This 1 story home would make the perfect starter home, downsize property, or investment property. The entire interior has just been painted so that it's move in ready for it's new owners. Located in Cypress Trails in Spring right off of Aldine Westfield makes it a solid location for access to major roads and highways like, 1960, I-45, Hwy 69, Hardy toll road, and tollway 99. The kitchen & primary bathroom was remodeled in 2021. Roof is from 2018. Please reach out to the listing agent for useful information regarding a program that this home qualifies for. Please don't let this opportunity pass you by. Get your showing scheduled today!

23. 2022-11-19
    historical $200,000 647-char remark

    Show marketing remark (647 chars)

    This 1 story home would make the perfect starter home, downsize property, or investment property. The entire interior has just been painted so that it's move in ready for it's new owners. Located in Cypress Trails in Spring right off of Aldine Westfield makes it a solid location for access to major roads and highways like, 1960, I-45, Hwy 69, Hardy toll road, and tollway 99. The kitchen & primary bathroom was remodeled in 2021. Roof is from 2018. Please reach out to the listing agent for useful information regarding a program that this home qualifies for. Please don't let this opportunity pass you by. Get your showing scheduled today!

24. 2006-12-06
    soldstatus
25. 1996-09-18
    soldstatus $44,500

ⓘ 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: $5,181 · $432/mo
• Projected year-2 tax: $5,181 · $432/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 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: $26,346
• − Mortgage interest: −$10,083
• − Property taxes: −$5,181
• − Insurance: −$900
• − Repairs & maintenance: −$2,108
• − Management: −$2,108
• − HOA: −$348
• − Depreciation: −$5,236
• Taxable income: $382
• Est. tax owed @ 24.0%: −$92
• After-tax cash flow: $2,965/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

+304.5% since first listed

10 events — show timeline

• 2026-03-31 Listed $180,000 HARMLS
• 2023-01-13 Sold (Public Records) — Public Records
• 2023-01-13 Sold (MLS) — HARMLS
• 2022-12-29 Pending — HARMLS
• 2022-12-01 Pending — HARMLS
• 2022-11-23 Pending — HARMLS
• 2022-11-19 Listed $200,000 HARMLS
• 2022-11-19 Coming Soon $200,000 HARMLS
• 2006-12-06 Sold (Public Records) — Public Records
• 1996-09-18 Sold (Public Records) $44,500 Public Records

Property tax history

+6.5%/yr

Latest (2025): $5,181 · -5.5% YoY. Source: county tax records.