23322 Dew Wood Ln · Spring, TX 77373

$209,000

4 bd · 2.0 ba · 1,702 sqft · SingleFamily public records · 34 Days on market

Built 1981 6,298 sqft lot Est $231k · 10% under $36/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 +21.7/30.0
• ARV discount +11.9/15.0
• 1% rule +7.0/10.0
• DSCR +6.9/10.0
• 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

Welcome to Dew Wood Ln! This charming, well-kept home offers high ceilings and large windows that fill the living room with natural light. The spacious kitchen features updated finishes and includes refrigerator. The backyard is perfect for relaxing or entertaining. Fresh interior and exterior paint, and thoughtful touches throughout make this home truly move-in ready. Don’t miss your chance to own this beautifully maintained home in a convenient Spring location!

Key facts

• Large windows
• Updated finishes
• Spacious kitchen

Tags

• HIGH CEILINGS
• LARGE WINDOWS
• SPACIOUS KITCHEN
• UPDATED FINISHES
• BACKYARD
• FRESH INTERIOR PAINT

Property features AI

Finance

• HOA & community: Post Wood Civic Association with an annual fee of $435

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water; Public sewer; Electric service
• Home design: Residential property; Built in 1981; Slab foundation
• Construction: Brick and vinyl siding exterior; Composition roof
• Exterior features: Private yard; Fence (back yard); Subdivision setting; Concrete road/driveway

Interior

• Kitchen: Dishwasher; Disposal; Electric oven; Gas oven; Free-standing range; Refrigerator
• Bedrooms: Total rooms: 8
• Flooring: Laminate
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central air conditioning (electric); Attic fan
• Interior features: Gas fireplace (1); Tub with shower; Ceiling fans; Ventilation for improved indoor air quality
• Laundry & utility: Washer hookup; Electric dryer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $209k.

Deal economics

• At list price, monthly cash flow is $323 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $209k).
• Recommended offer: $203k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: Chet Burchett El (math 30% / reading 35%, grade F, #2,234 of 4,322 statewide, top 52%, 904 students, 82% FRL); Dueitt Middle (math 12% / reading 23%, grade F, #1,507 of 1,662 statewide, top 91%, 773 students, 84% 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; solid renter incomes; 29,883 units permitted in Harris County in 2024 (8,621 in 5+ unit buildings).
• This rent runs 34% 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 34 days — a 3% lower offer ($203k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 21y 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

• Watch-outs: property tax is 2.5% 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 $202,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.20% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.63%
• DSCR: 1.29
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $231,472
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23202 Goodfellow Dr	0.11mi	4/2.5	1,798 (+6%)	14mo	$250,000	$139	72
23114 Goodfellow Dr	0.13mi	3/2.0 (-1)	1,541 (-10%)	7mo	$210,000	$136	67
5030 Monteith Dr	0.11mi	3/2.0 (-1)	1,653 (-3%)	22mo	$180,000	$109	67
23142 Calico Corners Ln	0.16mi	3/2.0 (-1)	1,599 (-6%)	19mo	$179,000	$112	62
4822 S Fairfax Village Cir	0.58mi	4/2.5	1,809 (+6%)	2mo	$220,000	$122	58
23110 Ludgate Dr	0.63mi	3/2.0 (-1)	1,474 (-13%)	13mo	$220,000	$149	32

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: -9.9%
• Equity multiple: 0.65×
• Total profit: $-20,464
• Equity at exit: $31,163

10-year hold

• IRR: -5.9%
• Equity multiple: 0.68×
• Total profit: $-19,018
• Equity at exit: $18,071

Cash invested: $58,520 (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: 7.0×

Monthly cashflow live

• Estimated rent: $2,506 medium
• Mortgage (P&I): −$1,096
• Tax from tax record: −$437 /mo · $5,250/yr
• Insurance: −$87
• HOA: −$36
• Vacancy / Maint / Mgmt: −$526
• Net cashflow: $323

Break-even live

Break-even rent $2,097

Max offer price $209,000

Occupancy floor 82%

Sensitivity live

Price	-10% $441	-5% $382	+0% $323	+5% $264	+10% $205
Rent	-10% $125	-5% $224	+0% $323	+5% $422	+10% $521
Rate	-1.0pp $428	-0.5pp $376	base $323	+0.5pp $269	+1.0pp $214

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $36 · $432/yr

Listing history 38 events

1. 2026-06-21
   days on market $209,000 Active 34 DOM
2. 2026-06-18
   days on market $209,000 Active 31 DOM
3. 2026-06-17
   days on market $209,000 Active 30 DOM
4. 2026-06-16
   days on market $209,000 Active 29 DOM
5. 2026-06-15
   days on market $209,000 Active 28 DOM
6. 2026-06-13
   days on market $209,000 Active 26 DOM
7. 2026-06-13
   days on market $209,000 Active 25 DOM
8. 2026-06-09
   days on market $209,000 Active 22 DOM
9. 2026-06-08
   days on market $209,000 Active 21 DOM
10. 2026-06-07
    days on market $209,000 Active 20 DOM
11. 2026-06-04
    days on market $209,000 Active 17 DOM
12. 2026-06-03
    days on market $209,000 Active 16 DOM
13. 2026-06-02
    days on market $209,000 Active 15 DOM
14. 2026-06-01
    days on market $209,000 Active 14 DOM
15. 2026-05-31
    days on market $209,000 Active 13 DOM
16. 2026-05-18
    listed $209,000 Active
17. 2023-12-01
    historical $1,650
18. 2023-11-16
    listed $1,650
19. 2023-10-20
    historical $1,650
20. 2023-10-07
    listed $1,650
21. 2019-12-27
    historical
22. 2019-10-16
    listed $145,000 Active
23. 2018-03-07
    status Pending
24. 2018-02-27
    status Pending, Continue to Show
25. 2018-02-27
    historical
26. 2018-02-26
    status Active
27. 2018-02-22
    status Pending, Continue to Show
28. 2018-02-05
    listed $129,900 Active
29. 2014-09-22
    soldstatus
30. 2009-05-14
    historical
31. 2007-07-09
    listed $116,450
32. 2007-04-28
    historical
33. 2006-11-03
    historical
34. 2006-10-28
    listed $116,450
35. 2006-08-29
    listed $116,450
36. 2005-04-30
    historical
37. 2005-03-07
    listed $107,200
38. 1995-01-01
    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: $5,250 · $437/mo
• Projected year-2 tax: $5,250 · $437/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: $30,071
• − Mortgage interest: −$11,707
• − Property taxes: −$5,250
• − Insurance: −$1,045
• − Repairs & maintenance: −$2,406
• − Management: −$2,406
• − HOA: −$432
• − Depreciation: −$6,080
• Taxable income: $746
• Est. tax owed @ 24.0%: −$179
• After-tax cash flow: $3,698/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

+95.0% since first listed

23 events — show timeline

• 2026-05-18 Listed $209,000 HARMLS
• 2023-12-01 Rental Removed $1,650 HARMLS
• 2023-11-16 Listed for Rent $1,650 HARMLS
• 2023-10-20 Rental Removed $1,650 HARMLS
• 2023-10-07 Listed for Rent $1,650 HARMLS
• 2019-12-27 Listing Removed — HARMLS
• 2019-10-16 Listed $145,000 HARMLS
• 2018-03-07 Pending — HARMLS
• 2018-02-27 Pending — HARMLS
• 2018-02-27 Listing Removed — HARMLS
• 2018-02-26 Relisted — HARMLS
• 2018-02-22 Pending — HARMLS
• 2018-02-05 Listed $129,900 HARMLS
• 2014-09-22 Sold (Public Records) — Public Records
• 2009-05-14 Listing Removed — HARMLS
• 2007-07-09 Listed $116,450 HARMLS
• 2007-04-28 Listing Removed — HARMLS
• 2006-11-03 Listing Removed — HARMLS
• 2006-10-28 Listed $116,450 HARMLS
• 2006-08-29 Listed $116,450 HARMLS
• 2005-04-30 Listing Removed — HARMLS
• 2005-03-07 Listed $107,200 HARMLS
• 1995-01-01 Sold (Public Records) — Public Records

Property tax history

+4.6%/yr

Latest (2025): $5,250 · +0.4% YoY. Source: county tax records.