24015 Spring Briar Ln · Spring, TX 77373

$210,000

4 bd · 2.5 ba · 3,101 sqft · SingleFamily public records · 105 Days on market

Built 1978 7,200 sqft lot $68/sqft · 35% below area Est $324k · 35% under $18/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 +17.8/30.0
• ARV discount +15.0/15.0
• 1% rule +7.6/10.0
• DSCR +5.6/10.0
• 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 MLS

INVESTOR SPECIAL - Home needs minor repairs. Selling AS-IS. Multiple updates already completed! The perfect home for entertaining! Fabulous 2-story home features: kitchen with maple cabinets, stainless steel appliances, and granite counters opens to the breakfast area and living spaces. Tiled sunroom with patio doors plus a separate tiled office/study with a separate exterior entry. Den or downstairs game room off the breakfast room. Formal dining and additional living/family room. Primary bath features a soaking tub, separate shower, and double sinks. Abundant of built-ins throughout. Covered patio with skylights overlooking pool — ideal for relaxing or hosting guests. Let this be the next place you call home!

Key facts

• Tiled sunroom
• Granite counters
• 7,200 sq ft lot

Tags

• KITCHEN WITH MAPLE CABINETS
• STAINLESS STEEL APPLIANCES
• GRANITE COUNTERS
• TILED SUNROOM
• SEPARATE TILED OFFICE
• SEPARATE EXTERIOR ENTRY

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $210k).
• Recommended offer: $191k (9.0% below list) — sets the bar for market timing.
• Cap rate 7.3% 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); 595 active listings in the ZIP; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 36% 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 105 days — a 9% lower offer ($191k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 21y ago; this cycle's ask has dropped $35k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 4.0% of price.
• Climate carrying-cost: 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 $191,100 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 1.26% ✓
• Cap rate: 7.29%
• Cash-on-cash: 3.56%
• DSCR: 1.16
• GRM: 6.6

CMA / ARV

• ARV (median comp): $324,392
• List price: $210,000
• Delta: -35.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.0%
• Equity multiple: 0.48×
• Total profit: $-30,328
• Equity at exit: $31,312

10-year hold

• IRR: -14.7%
• Equity multiple: 0.31×
• Total profit: $-40,711
• 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: 595
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,644 medium
• Mortgage (P&I): −$1,101
• Tax from tax record: −$707 /mo · $8,489/yr
• Insurance: −$88
• HOA: −$18
• Vacancy / Maint / Mgmt: −$555
• Net cashflow: $175

Break-even live

Break-even rent $2,423

Max offer price $210,000

Occupancy floor 88%

Sensitivity live

Price	-10% $294	-5% $234	+0% $175	+5% $115	+10% $56
Rent	-10% $-34	-5% $70	+0% $175	+5% $279	+10% $384
Rate	-1.0pp $280	-0.5pp $228	base $175	+0.5pp $120	+1.0pp $65

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: —

HOA detail

• Monthly dues: $18 · $216/yr
• Likely covers: pool

Listing history 20 events

1. 2026-06-09
   days on market $210,000 Active 105 DOM
2. 2026-06-08
   days on market $210,000 Active 104 DOM
3. 2026-06-07
   days on market $210,000 Active 103 DOM
4. 2026-06-04
   days on market $210,000 Active 100 DOM
5. 2026-06-03
   days on market $210,000 Active 99 DOM
6. 2026-06-02
   days on market $210,000 Active 98 DOM
7. 2026-06-01
   days on market $210,000 Active 97 DOM
8. 2026-05-31
   days on market $210,000 Active 96 DOM
9. 2026-05-01
   price $210,000 729-char remark

   Show marketing remark (729 chars)

   INVESTOR SPECIAL - Home needs minor repairs. Selling AS-IS. Multiple updates already completed! The perfect home for entertaining! Fabulous 2-story home features: kitchen with maple cabinets, stainless steel appliances, and granite counters opens to the breakfast area and living spaces. Tiled sunroom with patio doors plus a separate tiled office/study with a separate exterior entry. Den or downstairs game room off the breakfast room. Formal dining and additional living/family room. Primary bath features a soaking tub, separate shower, and double sinks. Abundant of built-ins throughout. Covered patio with skylights overlooking pool — ideal for relaxing or hosting guests. Let this be the next place you call home!

10. 2026-04-22
    price $225,000 729-char remark

    Show marketing remark (729 chars)

    INVESTOR SPECIAL - Home needs minor repairs. Selling AS-IS. Multiple updates already completed! The perfect home for entertaining! Fabulous 2-story home features: kitchen with maple cabinets, stainless steel appliances, and granite counters opens to the breakfast area and living spaces. Tiled sunroom with patio doors plus a separate tiled office/study with a separate exterior entry. Den or downstairs game room off the breakfast room. Formal dining and additional living/family room. Primary bath features a soaking tub, separate shower, and double sinks. Abundant of built-ins throughout. Covered patio with skylights overlooking pool — ideal for relaxing or hosting guests. Let this be the next place you call home!

11. 2026-03-07
    price $240,000 729-char remark

    Show marketing remark (729 chars)

    INVESTOR SPECIAL - Home needs minor repairs. Selling AS-IS. Multiple updates already completed! The perfect home for entertaining! Fabulous 2-story home features: kitchen with maple cabinets, stainless steel appliances, and granite counters opens to the breakfast area and living spaces. Tiled sunroom with patio doors plus a separate tiled office/study with a separate exterior entry. Den or downstairs game room off the breakfast room. Formal dining and additional living/family room. Primary bath features a soaking tub, separate shower, and double sinks. Abundant of built-ins throughout. Covered patio with skylights overlooking pool — ideal for relaxing or hosting guests. Let this be the next place you call home!

12. 2026-02-24
    listed $245,000 Active 729-char remark

    Show marketing remark (729 chars)

    INVESTOR SPECIAL - Home needs minor repairs. Selling AS-IS. Multiple updates already completed! The perfect home for entertaining! Fabulous 2-story home features: kitchen with maple cabinets, stainless steel appliances, and granite counters opens to the breakfast area and living spaces. Tiled sunroom with patio doors plus a separate tiled office/study with a separate exterior entry. Den or downstairs game room off the breakfast room. Formal dining and additional living/family room. Primary bath features a soaking tub, separate shower, and double sinks. Abundant of built-ins throughout. Covered patio with skylights overlooking pool — ideal for relaxing or hosting guests. Let this be the next place you call home!

13. 2009-07-15
    soldstatus 450-char remark

    Show marketing remark (450 chars)

    Mega updates & additions! Fabulous kit w/maple cabinets/ss appls/granite counters/tile bcksplsh. 4 spacious living areas. Tiled sunroom w/patio doors & great windows. Tiled office/study. Den or downstairs gameroom off the breakfast room. Formal dining + 2nd living area w/FP both w/wood floors. M-bath w/jetted tub,sep shower,& dbl sinks. Lots of builtin. Covered patio w/skylights. Heated POOL+separate covered hot tub. Fantastic value.

14. 2009-06-09
    historical 450-char remark

    Show marketing remark (450 chars)

    Mega updates & additions! Fabulous kit w/maple cabinets/ss appls/granite counters/tile bcksplsh. 4 spacious living areas. Tiled sunroom w/patio doors & great windows. Tiled office/study. Den or downstairs gameroom off the breakfast room. Formal dining + 2nd living area w/FP both w/wood floors. M-bath w/jetted tub,sep shower,& dbl sinks. Lots of builtin. Covered patio w/skylights. Heated POOL+separate covered hot tub. Fantastic value.

15. 2009-03-17
    listed $149,900 450-char remark

    Show marketing remark (450 chars)

    Mega updates & additions! Fabulous kit w/maple cabinets/ss appls/granite counters/tile bcksplsh. 4 spacious living areas. Tiled sunroom w/patio doors & great windows. Tiled office/study. Den or downstairs gameroom off the breakfast room. Formal dining + 2nd living area w/FP both w/wood floors. M-bath w/jetted tub,sep shower,& dbl sinks. Lots of builtin. Covered patio w/skylights. Heated POOL+separate covered hot tub. Fantastic value.

16. 2008-06-27
    historical
17. 2008-01-17
    listed $164,900
18. 2005-12-31
    historical
19. 2005-07-07
    listed $174,900
20. 1988-01-02
    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: $8,489 · $707/mo
• Projected year-2 tax: $8,489 · $707/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 · 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: $31,729
• − Mortgage interest: −$11,763
• − Property taxes: −$8,489
• − Insurance: −$1,050
• − Repairs & maintenance: −$2,538
• − Management: −$2,538
• − HOA: −$216
• − Depreciation: −$6,109
• Taxable loss: −$975
• Est. tax savings @ 24.0%: +$234
• After-tax cash flow: $2,330/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

+20.1% since first listed

12 events — show timeline

• 2026-05-01 Price Changed $210,000 HARMLS
• 2026-04-22 Price Changed $225,000 HARMLS
• 2026-03-07 Price Changed $240,000 HARMLS
• 2026-02-24 Listed $245,000 HARMLS
• 2009-07-15 Sold (MLS) — HARMLS
• 2009-06-09 Listing Removed — HARMLS
• 2009-03-17 Listed $149,900 HARMLS
• 2008-06-27 Listing Removed — HARMLS
• 2008-01-17 Listed $164,900 HARMLS
• 2005-12-31 Listing Removed — HARMLS
• 2005-07-07 Listed $174,900 HARMLS
• 1988-01-02 Sold (Public Records) — Public Records

Property tax history

+9.7%/yr

Latest (2025): $8,489 · +12.2% YoY. Source: county tax records.