20211 Cypresswood Gln · Spring, TX 77373

$225,500

3 bd · 2.0 ba · 1,232 sqft · SingleFamily public records · 26 Days on market

Built 2003

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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 +15.2/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• DSCR +4.6/10.0
• 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

Cozy 3/2 in Gated Community. Minutes from I-45, Hardy Toll Rd. , SH 99, Exxon, & amp; Bush IAH. Updates include new roof 2024, Trane HVAC (under warranty), new Frigidaire Gallery 2025, plantation shutters throughout, and much more. Great starter, great retirement, great investment. Must see!!

Key facts

• Gated community
• Plantation shutters
• Trane hvac

Tags

• GATED COMMUNITY
• NEW ROOF
• TRANE HVAC
• NEW FRIGIDAIRE GALLERY
• PLANTATION SHUTTERS

Property features AI

Exterior

• Home design: Built in 2003
• Construction: Living area approximately 1,232
• Exterior features: Located in the Cypresswood Lake subdivision

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $226k.

Deal economics

• At list price, monthly cash flow is $76 ($917/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $222k (1.4% below list).
• Recommended offer: $222k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.7% 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: crime D, amenities F, commute 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.
• Zoned schools: Ginger Mcnabb El (math 47% / reading 43%, grade D-, #1,133 of 4,322 statewide, top 27%, 713 students, 86% FRL); Twin Creeks Middle (math 23% / reading 24%, grade F, #1,317 of 1,662 statewide, top 80%, 973 students, 83% FRL); Spring H S (math 12% / reading 21%, grade F, #1,497 of 1,632 statewide, top 92%, 2,760 students, 72% FRL).
• Market conditions: Rents soft (-0.3%/yr); 603 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 30% 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 $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 26 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 24y 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.

Risks & watch-outs

• 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 $222,117 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 6.70%
• Cash-on-cash: 1.45%
• DSCR: 1.06
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -17.6%
• Equity multiple: 0.40×
• Total profit: $-38,081
• Equity at exit: $33,623

10-year hold

• IRR: -17.4%
• Equity multiple: 0.18×
• Total profit: $-51,631
• Equity at exit: $19,497

Cash invested: $63,140 (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: 603
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $2,223 medium
• Mortgage (P&I): −$1,183
• Tax from tax record: −$403 /mo · $4,837/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$467
• Net cashflow: $76

Break-even live

Break-even rent $2,126

Max offer price $225,500

Occupancy floor 92%

Sensitivity live

Price	-10% $204	-5% $140	+0% $76	+5% $13	+10% $-51
Rent	-10% $-99	-5% $-11	+0% $76	+5% $164	+10% $252
Rate	-1.0pp $190	-0.5pp $134	base $76	+0.5pp $18	+1.0pp $-41

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: $56,375
• Closing costs: $6,765
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2539 Spring Cypress Rd Spring, TX	1.0–3.0	1.0–3.0	1086	$2,214	$2.04	0d	16	1.49mi

Listing history 24 events

1. 2026-06-21
   days on market $225,500 Active 26 DOM
2. 2026-06-18
   days on market $225,500 Active 23 DOM
3. 2026-06-17
   days on market $225,500 Active 22 DOM
4. 2026-06-16
   days on market $225,500 Active 21 DOM
5. 2026-06-15
   days on market $225,500 Active 20 DOM
6. 2026-06-13
   days on market $225,500 Active 18 DOM
7. 2026-06-13
   days on market $225,500 Active 17 DOM
8. 2026-06-09
   days on market $225,500 Active 14 DOM
9. 2026-06-08
   days on market $225,500 Active 13 DOM
10. 2026-06-07
    days on market $225,500 Active 12 DOM
11. 2026-06-04
    days on market $225,500 Active 9 DOM
12. 2026-06-03
    days on market $225,500 Active 8 DOM
13. 2026-06-02
    days on market $225,500 Active 7 DOM
14. 2026-06-01
    days on market $225,500 Active 6 DOM
15. 2026-05-31
    days on market $225,500 Active 5 DOM
16. 2026-05-26
    listed $225,500 Active
17. 2010-12-10
    historical
18. 2010-08-26
    listed $96,900
19. 2009-12-18
    historical
20. 2009-10-28
    listed $104,900
21. 2008-10-08
    historical
22. 2007-11-09
    listed $199,900
23. 2003-02-07
    historical
24. 2002-12-19
    listed $189,900

ⓘ 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: $4,837 · $403/mo
• Projected year-2 tax: $4,837 · $403/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 4/10 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: $26,673
• − Mortgage interest: −$12,632
• − Property taxes: −$4,837
• − Insurance: −$1,128
• − Repairs & maintenance: −$2,134
• − Management: −$2,134
• − Depreciation: −$6,560
• Taxable loss: −$2,751
• Est. tax savings @ 24.0%: +$660
• After-tax cash flow: $1,577/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

+18.7% since first listed

9 events — show timeline

• 2026-05-26 Listed $225,500 FSBO.com
• 2010-12-10 Listing Removed — HARMLS
• 2010-08-26 Listed $96,900 HARMLS
• 2009-12-18 Listing Removed — HARMLS
• 2009-10-28 Listed $104,900 HARMLS
• 2008-10-08 Listing Removed — HARMLS
• 2007-11-09 Listed $199,900 HARMLS
• 2003-02-07 Listing Removed — HARMLS
• 2002-12-19 Listed $189,900 HARMLS

Property tax history

+11.1%/yr

Latest (2025): $4,837 · +12.5% YoY. Source: county tax records.