22715 Imperial Ivy Ct · Spring, TX 77373

$259,000

3 bd · 2.0 ba · 1,586 sqft · SingleFamily public records · 6 Days on market

Built 2006 7,514 sqft lot $163/sqft · 15% below area Est $305k · 15% under $50/mo HOA · 2% of rent

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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).

• ARV discount +14.3/15.0
• Cash flow +9.1/30.0
• 1% rule +4.1/10.0
• Livability +3.3/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Schools +2.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful well maintained, move-in ready, single-story 3 bed, 2 bath home offers an inviting layout. This home features over $65K worth of upgrades from new roof, AC, water heater, floors, new paint throughout the house, appliances, etc. Too many to list, please see attached list of upgrades. There is a formal dinning room that can be used for an office space. The kitchen has a spacious breakfast area! The primary suite features a spa-like bathroom with double sinks, a soaking tub, a walk-in shower & walk-in closet. The secondary bedrooms share a full bath with a shower/tub combo. The laundry room is inside the house. Step outside and enjoy the covered patio in the fenced backyard an

Key facts

• New floors
• Formal dining room
• New water heater

Tags

• NEW ROOF
• NEW AC
• NEW WATER HEATER
• NEW FLOORS
• NEW PAINT
• FORMAL DINING ROOM

Property features AI

Finance

• Other: Municipal Utility District disclosure included
• HOA & community: Part of Villages of Northgate Crossing; Annual association fee of $600

Exterior

• Parking: Attached 2-car garage with garage door opener
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 2006; Slab foundation; Composition roof
• Construction: Brick construction
• Exterior features: Fully fenced private yard; Sprinkler/irrigation system; Back yard fencing; Corner lot

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Electric range; Garbage disposal; Microwave
• Bedrooms: Primary bedroom on first floor (20x20); Bedroom on first floor (11x11); Bedroom on first floor (11x11)
• Flooring: Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: Pantry; Soaking tub; Separate shower; Kitchen/dining combo
• Laundry & utility: Washer hookup; Electric dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $259k.

Deal economics

• At list price, monthly cash flow is $-199 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $224k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $236k (8.7% below list).
• Recommended offer: $224k (13.5% below list) — sets the bar for cash-flow.

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: Northgate El (math 36% / reading 37%, grade F, #1,883 of 4,322 statewide, top 44%, 727 students, 70% FRL); Springwoods Village Middle (math 22% / reading 29%, grade F, #1,236 of 1,662 statewide, top 76%, 511 students, 70% FRL); Spring H S (math 12% / reading 21%, grade F, #1,497 of 1,632 statewide, top 92%, 2,760 students, 72% FRL) — zoned schools at 71% FRL track the district average.
• 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 32% 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 $8k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 20y 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 2.6% 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 $223,913 (13.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. 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?
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: 0.91% ✗
• Cap rate: 5.37%
• Cash-on-cash: -3.29%
• DSCR: 0.85
• GRM: 9.1

CMA / ARV

• ARV (median comp): $305,361
• List price: $259,000
• Delta: -10.60%
• Verdict: UNDERPRICED
• Comps: 20 within 2.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
731 Timberstand Ln	0.40mi	4/2.5 (+1)	1,760 (+11%)	14mo	$270,000	$153	44

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: -25.7%
• Equity multiple: 0.15×
• Total profit: $-61,343
• Equity at exit: $38,618

10-year hold

• IRR: -39.3%
• Equity multiple: -0.32×
• Total profit: $-95,649
• Equity at exit: $22,394

Cash invested: $72,520 (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: 9.1×

Monthly cashflow live

• Estimated rent: $2,364 medium
• Mortgage (P&I): −$1,358
• Tax from tax record: −$550 /mo · $6,605/yr
• Insurance: −$108
• HOA: −$50
• Vacancy / Maint / Mgmt: −$497
• Net cashflow: $-199

Break-even live

Break-even rent $2,616

Max offer price $223,913

Occupancy floor —

Sensitivity live

Price	-10% $-52	-5% $-125	+0% $-199	+5% $-272	+10% $-345
Rent	-10% $-385	-5% $-292	+0% $-199	+5% $-105	+10% $-12
Rate	-1.0pp $-68	-0.5pp $-133	base $-199	+0.5pp $-266	+1.0pp $-334

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: $64,750
• Closing costs: $7,770
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $50 · $600/yr
• Likely covers: water

Listing history 19 events

1. 2026-06-21
   statusdays on market $259,000 Pending 6 DOM
2. 2026-06-18
   days on market $259,000 Active 3 DOM
3. 2026-06-17
   days on market $259,000 Active 2 DOM
4. 2026-06-15
   pricedays on marketlisting id $259,000 Active 1 DOM
5. 2026-06-13
   days on market $273,000 Active 53 DOM
6. 2026-06-13
   days on market $273,000 Active 52 DOM
7. 2026-06-09
   days on market $273,000 Active 49 DOM
8. 2026-06-08
   days on market $273,000 Active 48 DOM
9. 2026-06-07
   days on market $273,000 Active 47 DOM
10. 2026-06-04
    days on market $273,000 Active 44 DOM
11. 2026-06-03
    days on market $273,000 Active 43 DOM
12. 2026-06-02
    days on market $273,000 Active 42 DOM
13. 2026-06-01
    days on market $273,000 Active 41 DOM
14. 2026-05-31
    days on market $273,000 Active 40 DOM
15. 2026-04-22
    listed $273,000 Active 982-char remark
16. 2016-02-19
    historical
17. 2016-02-07
    listed $165,000 Active
18. 2007-08-20
    historical
19. 2006-05-12
    listed $152,916

ⓘ 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: $6,605 · $550/mo
• Projected year-2 tax: $6,605 · $550/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: $28,374
• − Mortgage interest: −$14,508
• − Property taxes: −$6,605
• − Insurance: −$1,295
• − Repairs & maintenance: −$2,270
• − Management: −$2,270
• − HOA: −$600
• − Depreciation: −$7,535
• Taxable loss: −$6,709
• Est. tax savings @ 24.0%: +$1,610
• After-tax cash flow: $-773/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

+69.4% since first listed

7 events — show timeline

• 2026-06-15 Listing Removed — HARMLS
• 2026-06-15 Listed $259,000 HARMLS
• 2026-04-22 Listed $273,000 HARMLS
• 2016-02-19 Listing Removed — HARMLS
• 2016-02-07 Listed $165,000 HARMLS
• 2007-08-20 Listing Removed — HARMLS
• 2006-05-12 Listed $152,916 HARMLS

Property tax history

+2.5%/yr

Latest (2025): $6,605 · +6.9% YoY. Source: county tax records.