23644 Wildwood Green Way · Spring, TX 77373

$170,000

2 bd · 1.5 ba · 1,116 sqft · Townhouse public records · 52 Days on market

Built 2003 3,144 sqft lot $152/sqft · at area comps Est $179k · at est. $30/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).

• Cash flow +13.5/30.0
• ARV discount +9.7/15.0
• 1% rule +5.1/10.0
• DSCR +4.1/10.0
• 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 this beautifully updated 2-bedroom, 1.5-bathroom townhome in Spring Crossing, offering modern comfort and style. Step inside to find spacious living areas with brand-new LVP flooring and neutral paint throughout. The kitchen is perfect for preparing your favorite meals, featuring stainless steel appliances, new countertops and plenty of storage. Both bedrooms provide inviting spaces with large closets, ideal for storing your essentials. Imagine enjoying a morning coffee or unwinding after a long day on your private backyard patio, complete with a charming pergola—perfect for relaxing or outdoor dining. This home also includes a 1-car garage and is ideally located with easy

Key facts

• Move-in ready
• Lvp flooring
• Charming pergola

Tags

• LVP FLOORING
• STAINLESS STEEL APPLIANCES
• PRIVATE BACKYARD PATIO
• CHARMING PERGOLA
• MOVE-IN READY

Property features AI

Finance

• Other: Community curbs
• HOA & community: PMG Houston HOA; Annual association fee

Exterior

• Parking: Detached garage with garage door opener; 1 garage space; Concrete driveway/road surface
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; Southwest facing; 2 stories; Built in 2003; Full ownership
• Construction: Cement siding; Composition roof; Slab foundation
• Exterior features: Deck; Patio; Private yard; Fenced yard; Front yard

Interior

• Kitchen: Gas range and gas oven; Microwave; Dishwasher; Garbage disposal; Pantry
• Bedrooms: Primary bedroom on second floor (13 x 11); Additional bedroom on second floor (13 x 10)
• Flooring: Laminate; Plank; Vinyl
• Bathrooms: One full bathroom; One half bathroom; Primary bathroom on second floor (8 x 7)
• Heating & cooling: Central heating (gas); Central electric air conditioning; Thermostat (energy efficient)
• Interior features: Primary bedroom with attached bath; Pantry; Window treatments / coverings; Ceiling fans; Kitchen and dining combined; Programmable thermostat; Ventilation for improved indoor air quality
• Laundry & utility: Laundry located in utility room; Washer and dryer included; Electric and gas dryer hookups

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath townhouse listed at $170k.

Deal economics

• At list price, monthly cash flow is $7 ($86/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $165k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.3% 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: 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: Gloria Marshall El (math 15% / reading 25%, grade F, #3,536 of 4,322 statewide, top 83%, 953 students, 81% FRL); Rickey C Bailey Middle (math 15% / reading 23%, grade F, #1,466 of 1,662 statewide, top 89%, 1,065 students, 85% 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).

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 52 days — a 3% lower offer ($165k) is reasonable based on typical stale-listing flexibility.
• 6 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

• 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 $164,900 (3.0% below list)

Questions for the listing agent

1. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.01% ✓
• Cap rate: 6.34%
• Cash-on-cash: 0.18%
• DSCR: 1.01
• GRM: 8.3

CMA / ARV

• ARV (median comp): $178,870
• List price: $170,000
• Delta: -4.96%
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -19.9%
• Equity multiple: 0.33×
• Total profit: $-31,979
• Equity at exit: $25,348

10-year hold

• IRR: -22.6%
• Equity multiple: 0.03×
• Total profit: $-46,129
• Equity at exit: $14,698

Cash invested: $47,600 (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: 8.3×

Monthly cashflow live

• Estimated rent: $1,713 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$354 /mo · $4,249/yr
• Insurance: −$71
• HOA: −$30
• Vacancy / Maint / Mgmt: −$360
• Net cashflow: $7

Break-even live

Break-even rent $1,704

Max offer price $170,000

Occupancy floor 95%

Sensitivity live

Price	-10% $103	-5% $55	+0% $7	+5% $-41	+10% $-89
Rent	-10% $-128	-5% $-60	+0% $7	+5% $75	+10% $143
Rate	-1.0pp $93	-0.5pp $50	base $7	+0.5pp $-37	+1.0pp $-82

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: $42,500
• Closing costs: $5,100
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $30 · $360/yr

Listing history 36 events

1. 2026-06-21
   days on market $170,000 Active 52 DOM
2. 2026-06-18
   days on market $170,000 Active 49 DOM
3. 2026-06-17
   days on market $170,000 Active 48 DOM
4. 2026-06-16
   days on market $170,000 Active 47 DOM
5. 2026-06-15
   days on market $170,000 Active 46 DOM
6. 2026-06-13
   days on market $170,000 Active 44 DOM
7. 2026-06-13
   days on market $170,000 Active 43 DOM
8. 2026-06-09
   days on market $170,000 Active 40 DOM
9. 2026-06-08
   days on market $170,000 Active 39 DOM
10. 2026-06-07
    days on market $170,000 Active 38 DOM
11. 2026-06-04
    days on market $170,000 Active 35 DOM
12. 2026-06-03
    days on market $170,000 Active 34 DOM
13. 2026-06-02
    days on market $170,000 Active 33 DOM
14. 2026-06-01
    days on market $170,000 Active 32 DOM
15. 2026-05-31
    days on market $170,000 Active 31 DOM
16. 2026-04-30
    listed $170,000 Active 957-char remark
17. 2026-04-22
    historical
18. 2026-03-26
    price $165,000
19. 2026-03-02
    price $170,000
20. 2026-02-13
    price $173,000
21. 2025-12-11
    listed $175,000 Active
22. 2025-12-03
    historical
23. 2025-10-21
    price $174,990
24. 2025-08-29
    price $178,000
25. 2025-07-31
    listed $180,000 Active
26. 2024-03-04
    soldstatus
27. 2024-03-01
    soldstatus Sold
28. 2024-02-09
    status Pending
29. 2024-01-31
    status Option Pending
30. 2024-01-25
    listed $174,900 Active
31. 2024-01-19
    historical $174,900
32. 2006-07-20
    soldstatus
33. 2006-05-20
    historical
34. 2006-04-30
    listed $89,000
35. 2006-04-30
    historical
36. 2006-03-17
    listed $89,000

ⓘ 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: $4,249 · $354/mo
• Projected year-2 tax: $4,249 · $354/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: $20,562
• − Mortgage interest: −$9,523
• − Property taxes: −$4,249
• − Insurance: −$850
• − Repairs & maintenance: −$1,645
• − Management: −$1,645
• − HOA: −$360
• − Depreciation: −$4,945
• Taxable loss: −$2,656
• Est. tax savings @ 24.0%: +$637
• After-tax cash flow: $724/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

+91.0% since first listed

21 events — show timeline

• 2026-04-30 Listed $170,000 HARMLS
• 2026-04-22 Listing Removed — HARMLS
• 2026-03-26 Price Changed $165,000 HARMLS
• 2026-03-02 Price Changed $170,000 HARMLS
• 2026-02-13 Price Changed $173,000 HARMLS
• 2025-12-11 Listed $175,000 HARMLS
• 2025-12-03 Listing Removed — HARMLS
• 2025-10-21 Price Changed $174,990 HARMLS
• 2025-08-29 Price Changed $178,000 HARMLS
• 2025-07-31 Listed $180,000 HARMLS
• 2024-03-04 Sold (Public Records) — Public Records
• 2024-03-01 Sold (MLS) — HARMLS
• 2024-02-09 Pending — HARMLS
• 2024-01-31 Pending — HARMLS
• 2024-01-25 Listed $174,900 HARMLS
• 2024-01-19 Coming Soon $174,900 HARMLS
• 2006-07-20 Sold (Public Records) — Public Records
• 2006-05-20 Listing Removed — HARMLS
• 2006-04-30 Listing Removed — HARMLS
• 2006-04-30 Listed $89,000 HARMLS
• 2006-03-17 Listed $89,000 HARMLS

Property tax history

+3.6%/yr

Latest (2025): $4,249 · +0.6% YoY. Source: county tax records.