2314 Summer Spring Dr · Spring, TX 77373

$180,000

3 bd · 2.0 ba · 1,860 sqft · SingleFamily public records · 59 Days on market

Built 1978 7,148 sqft lot $97/sqft · 14% below area Est $209k · 14% 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 +20.5/30.0
• ARV discount +13.7/15.0
• 1% rule +7.6/10.0
• DSCR +6.5/10.0
• 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

VERY EXPENSIVE FULL HOUSE WATER FILTRATION SYSTEM SYSTEM (LOCATED ON SIDE OF HOUSE BY A/C UNIT) AND OSMOSIS (UNDER SINK IN KITCHEN). House has a VERY nice back covered porch just after the driveway gate. Upgraded appliances and all of them stay with the house. Generator inlet plug for your back up generator at breaker box. Security cameras can stay. Tv in master is excluded from sale. Virtual floor plan link found here.

Key facts

• 7,148 sq ft lot
• 2 garage spots
• Built 1978

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 $237 ($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: $175k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 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 $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 59 days — a 3% lower offer ($175k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $10k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $62k; list at $180k implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.4% 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 $174,600 (3.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.26% ✓
• Cap rate: 7.87%
• Cash-on-cash: 5.64%
• DSCR: 1.25
• GRM: 6.6

CMA / ARV

• ARV (median comp): $208,792
• List price: $180,000
• Delta: -13.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23803 Ironside Rd	0.42mi	3/2.5	1,822 (-2%)	14mo	$250,000	$137	63
23819 Creek Ridge Dr	0.48mi	4/3.0 (+1)	1,878 (+1%)	7mo	$210,000	$112	61
2514 Spring Day Ct	0.30mi	3/2.0	1,648 (-11%)	10mo	$215,000	$130	59
23710 Prairie Bird Dr	0.57mi	3/2.5	1,789 (-4%)	8mo	$185,000	$103	58
23918 Spring Mill Ln	0.34mi	3/2.0	1,748 (-6%)	21mo	$225,000	$129	57
23715 Farm Hill Rd	0.50mi	3/2.0	1,660 (-11%)	15mo	$189,000	$114	46
23510 Treeline Bluff Trl	0.66mi	4/2.0 (+1)	1,892 (+2%)	20mo	$275,000	$145	45
23611 Blodgett Peak Trl	0.55mi	4/2.0 (+1)	1,750 (-6%)	24mo	$275,000	$157	40

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: -11.6%
• Equity multiple: 0.59×
• Total profit: $-20,494
• Equity at exit: $26,839

10-year hold

• IRR: -8.8%
• Equity multiple: 0.54×
• Total profit: $-23,125
• 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: 595
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,259 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$511 /mo · $6,134/yr
• Insurance: −$75
• HOA: −$18
• Vacancy / Maint / Mgmt: −$474
• Net cashflow: $237

Break-even live

Break-even rent $1,960

Max offer price $180,000

Occupancy floor 85%

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: $18 · $216/yr
• Likely covers: watersecurity

Listing history 29 events

1. 2026-06-18
   days on market $180,000 Active 59 DOM
2. 2026-06-17
   days on market $180,000 Active 58 DOM
3. 2026-06-16
   days on market $180,000 Active 57 DOM
4. 2026-06-15
   days on market $180,000 Active 56 DOM
5. 2026-06-13
   days on market $180,000 Active 54 DOM
6. 2026-06-13
   days on market $180,000 Active 53 DOM
7. 2026-06-10
   price $180,000 Active 50 DOM
8. 2026-06-09
   days on market $185,000 Active 50 DOM
9. 2026-06-08
   days on market $185,000 Active 49 DOM
10. 2026-06-07
    days on market $185,000 Active 48 DOM
11. 2026-06-04
    days on market $185,000 Active 45 DOM
12. 2026-06-03
    days on market $185,000 Active 44 DOM
13. 2026-06-02
    days on market $185,000 Active 43 DOM
14. 2026-06-01
    days on market $185,000 Active 42 DOM
15. 2026-05-31
    days on market $185,000 Active 41 DOM
16. 2026-05-11
    price $185,000 423-char remark

    Show marketing remark (423 chars)

    VERY EXPENSIVE FULL HOUSE WATER FILTRATION SYSTEM SYSTEM (LOCATED ON SIDE OF HOUSE BY A/C UNIT) AND OSMOSIS (UNDER SINK IN KITCHEN). House has a VERY nice back covered porch just after the driveway gate. Upgraded appliances and all of them stay with the house. Generator inlet plug for your back up generator at breaker box. Security cameras can stay. Tv in master is excluded from sale. Virtual floor plan link found here.

17. 2026-04-20
    listed $190,000 Active 423-char remark

    Show marketing remark (423 chars)

    VERY EXPENSIVE FULL HOUSE WATER FILTRATION SYSTEM SYSTEM (LOCATED ON SIDE OF HOUSE BY A/C UNIT) AND OSMOSIS (UNDER SINK IN KITCHEN). House has a VERY nice back covered porch just after the driveway gate. Upgraded appliances and all of them stay with the house. Generator inlet plug for your back up generator at breaker box. Security cameras can stay. Tv in master is excluded from sale. Virtual floor plan link found here.

18. 2026-04-17
    historical $190,000 423-char remark

    Show marketing remark (423 chars)

    VERY EXPENSIVE FULL HOUSE WATER FILTRATION SYSTEM SYSTEM (LOCATED ON SIDE OF HOUSE BY A/C UNIT) AND OSMOSIS (UNDER SINK IN KITCHEN). House has a VERY nice back covered porch just after the driveway gate. Upgraded appliances and all of them stay with the house. Generator inlet plug for your back up generator at breaker box. Security cameras can stay. Tv in master is excluded from sale. Virtual floor plan link found here.

19. 2020-06-01
    soldstatus
20. 2020-05-29
    soldstatus Sold 817-char remark

    Show marketing remark (817 chars)

    Come home to this wonderful 3 bedroom, 2 bath one story in North Spring. Formal dining room greets you as you enter and could also be used as a study or flex room. This home has no carpet and modern tile is set in a brick pattern throughout. Spacious kitchen has GRANITE counters, stainless & black appliances, a breakfast area and adjoins the family room with a cozy fireplace. There is lots of space for your family to spread out and you will not believe the size of the master and secondary bedrooms. Baths also feature GRANITE counters and the secondary bath has been updated with a walk-in shower. Outside find a nice yard with a covered area and a gated driveway. Close to shopping, entertainment, restaurants and only a short hop to the Hardy Tollway and I-45. DID NOT FLOOD. Make your appointment today.

21. 2020-05-11
    status Pending 817-char remark

    Show marketing remark (817 chars)

    Come home to this wonderful 3 bedroom, 2 bath one story in North Spring. Formal dining room greets you as you enter and could also be used as a study or flex room. This home has no carpet and modern tile is set in a brick pattern throughout. Spacious kitchen has GRANITE counters, stainless & black appliances, a breakfast area and adjoins the family room with a cozy fireplace. There is lots of space for your family to spread out and you will not believe the size of the master and secondary bedrooms. Baths also feature GRANITE counters and the secondary bath has been updated with a walk-in shower. Outside find a nice yard with a covered area and a gated driveway. Close to shopping, entertainment, restaurants and only a short hop to the Hardy Tollway and I-45. DID NOT FLOOD. Make your appointment today.

22. 2020-05-02
    status Option Pending 817-char remark

    Show marketing remark (817 chars)

    Come home to this wonderful 3 bedroom, 2 bath one story in North Spring. Formal dining room greets you as you enter and could also be used as a study or flex room. This home has no carpet and modern tile is set in a brick pattern throughout. Spacious kitchen has GRANITE counters, stainless & black appliances, a breakfast area and adjoins the family room with a cozy fireplace. There is lots of space for your family to spread out and you will not believe the size of the master and secondary bedrooms. Baths also feature GRANITE counters and the secondary bath has been updated with a walk-in shower. Outside find a nice yard with a covered area and a gated driveway. Close to shopping, entertainment, restaurants and only a short hop to the Hardy Tollway and I-45. DID NOT FLOOD. Make your appointment today.

23. 2020-04-30
    listed $170,000 Active 817-char remark

    Show marketing remark (817 chars)

    Come home to this wonderful 3 bedroom, 2 bath one story in North Spring. Formal dining room greets you as you enter and could also be used as a study or flex room. This home has no carpet and modern tile is set in a brick pattern throughout. Spacious kitchen has GRANITE counters, stainless & black appliances, a breakfast area and adjoins the family room with a cozy fireplace. There is lots of space for your family to spread out and you will not believe the size of the master and secondary bedrooms. Baths also feature GRANITE counters and the secondary bath has been updated with a walk-in shower. Outside find a nice yard with a covered area and a gated driveway. Close to shopping, entertainment, restaurants and only a short hop to the Hardy Tollway and I-45. DID NOT FLOOD. Make your appointment today.

24. 2016-11-01
    soldstatus
25. 2016-10-31
    soldstatus Sold
26. 2016-10-08
    status Pending
27. 2016-09-22
    status Option Pending
28. 2016-08-13
    listed $117,000 Active
29. 1993-05-12
    soldstatus $62,500

ⓘ 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: $6,134 · $511/mo
• Projected year-2 tax: $6,134 · $511/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 · 24 d/yr by 30 yrs out
• 💨 Wind 9/10 Extreme 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: $27,110
• − Mortgage interest: −$10,083
• − Property taxes: −$6,134
• − Insurance: −$900
• − Repairs & maintenance: −$2,169
• − Management: −$2,169
• − HOA: −$216
• − Depreciation: −$5,236
• Taxable income: $204
• Est. tax owed @ 24.0%: −$49
• After-tax cash flow: $2,791/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

+196.0% since first listed

14 events — show timeline

• 2026-05-11 Price Changed $185,000 HARMLS
• 2026-04-20 Listed $190,000 HARMLS
• 2026-04-17 Coming Soon $190,000 HARMLS
• 2020-06-01 Sold (Public Records) — Public Records
• 2020-05-29 Sold (MLS) — HARMLS
• 2020-05-11 Pending — HARMLS
• 2020-05-02 Pending — HARMLS
• 2020-04-30 Listed $170,000 HARMLS
• 2016-11-01 Sold (Public Records) — Public Records
• 2016-10-31 Sold (MLS) — HARMLS
• 2016-10-08 Pending — HARMLS
• 2016-09-22 Pending — HARMLS
• 2016-08-13 Listed $117,000 HARMLS
• 1993-05-12 Sold (Public Records) $62,500 Public Records

Property tax history

+4.4%/yr

Latest (2025): $6,134 · +3.5% YoY. Source: county tax records.