5402 Sherrylee Ln · Spring, TX 77373

$214,900

3 bd · 2.0 ba · 1,457 sqft · SingleFamily public records · 66 Days on market

Built 1978 6,298 sqft lot $147/sqft · 11% below area Est $240k · 11% under $36/mo HOA · 2% of rent ↓ 53% since listing

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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 +16.6/30.0
• ARV discount +12.2/15.0
• 1% rule +5.5/10.0
• DSCR +5.1/10.0
• 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 MLS

Ready for it's next owner! This charming single-family home offers 3 bedrooms and 2 bathrooms with 1,457 sq. ft. of living space on a 6,300 sq. ft. lot. Recent upgrades provide peace of mind, including a 1-year-old roof and electric panel, 3-year-old water heater, 5-year-old HVAC system, plus new flooring and fresh interior and exterior paint. The bright, open living room features vaulted ceilings and a brick fireplace, flowing seamlessly into the dining area and kitchen—perfect for everyday living and entertaining. Step outside to a covered patio ideal for gatherings, along with a spacious driveway and beautifully landscaped yard. Located in a quiet, established neighborhood with mature trees, this move-in ready home blends comfort, style, and convenience.

Key facts

• Covered patio
• Landscaped yard
• Move in ready

Tags

• COVERED PATIO
• LANDSCAPED YARD
• QUIET ESTABLISHED NEIGHBORHOOD
• MATURE TREES
• MOVE IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $129 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $202k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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 $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 66 days — a 6% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,006 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
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: 1.05% ✓
• Cap rate: 7.01%
• Cash-on-cash: 2.57%
• DSCR: 1.11
• GRM: 7.9

CMA / ARV

• ARV (median comp): $240,253
• List price: $214,900
• Delta: -10.55%
• 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
23114 Goodfellow Dr	0.20mi	3/2.0	1,541 (+6%)	7mo	$210,000	$136	75
23142 Calico Corners Ln	0.17mi	3/2.0	1,599 (+10%)	19mo	$179,000	$112	60
23110 Ludgate Dr	0.64mi	3/2.0	1,474 (+1%)	13mo	$220,000	$149	57
5715 Walnutgate Dr	0.67mi	3/2.0	1,565 (+7%)	4mo	$220,000	$141	53
5030 Monteith Dr	0.26mi	3/2.0	1,653 (+14%)	22mo	$180,000	$109	47
22731 Melham Ln	0.73mi	3/2.0	1,533 (+5%)	13mo	$190,000	$124	46
4555 Algernon Dr	0.69mi	3/2.0	1,360 (-7%)	16mo	$205,000	$151	43
5603 Rivergate Dr	0.72mi	3/2.0	1,537 (+6%)	20mo	$190,000	$124	41

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: -16.0%
• Equity multiple: 0.45×
• Total profit: $-33,115
• Equity at exit: $32,042

10-year hold

• IRR: -14.9%
• Equity multiple: 0.28×
• Total profit: $-43,318
• Equity at exit: $18,581

Cash invested: $60,172 (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: 7.9×

Monthly cashflow live

• Estimated rent: $2,260 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$404 /mo · $4,854/yr
• Insurance: −$90
• HOA: −$36
• Vacancy / Maint / Mgmt: −$475
• Net cashflow: $129

Break-even live

Break-even rent $2,097

Max offer price $214,900

Occupancy floor 89%

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $36 · $432/yr
• Likely covers: waterelectric

Listing history 20 events

1. 2026-05-11
   status Pending 782-char remark

   Show marketing remark (782 chars)

   Ready for it's next owner! This charming single-family home offers 3 bedrooms and 2 bathrooms with 1,457 sq. ft. of living space on a 6,300 sq. ft. lot. Recent upgrades provide peace of mind, including a 1-year-old roof and electric panel, 3-year-old water heater, 5-year-old HVAC system, plus new flooring and fresh interior and exterior paint. The bright, open living room features vaulted ceilings and a brick fireplace, flowing seamlessly into the dining area and kitchen—perfect for everyday living and entertaining. Step outside to a covered patio ideal for gatherings, along with a spacious driveway and beautifully landscaped yard. Located in a quiet, established neighborhood with mature trees, this move-in ready home blends comfort, style, and convenience.

2. 2026-05-06
   status Pending 782-char remark

   Show marketing remark (782 chars)

   Ready for it's next owner! This charming single-family home offers 3 bedrooms and 2 bathrooms with 1,457 sq. ft. of living space on a 6,300 sq. ft. lot. Recent upgrades provide peace of mind, including a 1-year-old roof and electric panel, 3-year-old water heater, 5-year-old HVAC system, plus new flooring and fresh interior and exterior paint. The bright, open living room features vaulted ceilings and a brick fireplace, flowing seamlessly into the dining area and kitchen—perfect for everyday living and entertaining. Step outside to a covered patio ideal for gatherings, along with a spacious driveway and beautifully landscaped yard. Located in a quiet, established neighborhood with mature trees, this move-in ready home blends comfort, style, and convenience.

3. 2026-04-15
   status Active 782-char remark

   Show marketing remark (782 chars)

   Ready for it's next owner! This charming single-family home offers 3 bedrooms and 2 bathrooms with 1,457 sq. ft. of living space on a 6,300 sq. ft. lot. Recent upgrades provide peace of mind, including a 1-year-old roof and electric panel, 3-year-old water heater, 5-year-old HVAC system, plus new flooring and fresh interior and exterior paint. The bright, open living room features vaulted ceilings and a brick fireplace, flowing seamlessly into the dining area and kitchen—perfect for everyday living and entertaining. Step outside to a covered patio ideal for gatherings, along with a spacious driveway and beautifully landscaped yard. Located in a quiet, established neighborhood with mature trees, this move-in ready home blends comfort, style, and convenience.

4. 2026-04-06
   status Pending 782-char remark

   Show marketing remark (782 chars)

   Ready for it's next owner! This charming single-family home offers 3 bedrooms and 2 bathrooms with 1,457 sq. ft. of living space on a 6,300 sq. ft. lot. Recent upgrades provide peace of mind, including a 1-year-old roof and electric panel, 3-year-old water heater, 5-year-old HVAC system, plus new flooring and fresh interior and exterior paint. The bright, open living room features vaulted ceilings and a brick fireplace, flowing seamlessly into the dining area and kitchen—perfect for everyday living and entertaining. Step outside to a covered patio ideal for gatherings, along with a spacious driveway and beautifully landscaped yard. Located in a quiet, established neighborhood with mature trees, this move-in ready home blends comfort, style, and convenience.

5. 2026-03-29
   status Pending 782-char remark

   Show marketing remark (782 chars)

   Ready for it's next owner! This charming single-family home offers 3 bedrooms and 2 bathrooms with 1,457 sq. ft. of living space on a 6,300 sq. ft. lot. Recent upgrades provide peace of mind, including a 1-year-old roof and electric panel, 3-year-old water heater, 5-year-old HVAC system, plus new flooring and fresh interior and exterior paint. The bright, open living room features vaulted ceilings and a brick fireplace, flowing seamlessly into the dining area and kitchen—perfect for everyday living and entertaining. Step outside to a covered patio ideal for gatherings, along with a spacious driveway and beautifully landscaped yard. Located in a quiet, established neighborhood with mature trees, this move-in ready home blends comfort, style, and convenience.

6. 2026-03-23
   price $214,900 782-char remark

   Show marketing remark (782 chars)

   Ready for it's next owner! This charming single-family home offers 3 bedrooms and 2 bathrooms with 1,457 sq. ft. of living space on a 6,300 sq. ft. lot. Recent upgrades provide peace of mind, including a 1-year-old roof and electric panel, 3-year-old water heater, 5-year-old HVAC system, plus new flooring and fresh interior and exterior paint. The bright, open living room features vaulted ceilings and a brick fireplace, flowing seamlessly into the dining area and kitchen—perfect for everyday living and entertaining. Step outside to a covered patio ideal for gatherings, along with a spacious driveway and beautifully landscaped yard. Located in a quiet, established neighborhood with mature trees, this move-in ready home blends comfort, style, and convenience.

7. 2026-03-14
   price $220,000 782-char remark

   Show marketing remark (782 chars)

   Ready for it's next owner! This charming single-family home offers 3 bedrooms and 2 bathrooms with 1,457 sq. ft. of living space on a 6,300 sq. ft. lot. Recent upgrades provide peace of mind, including a 1-year-old roof and electric panel, 3-year-old water heater, 5-year-old HVAC system, plus new flooring and fresh interior and exterior paint. The bright, open living room features vaulted ceilings and a brick fireplace, flowing seamlessly into the dining area and kitchen—perfect for everyday living and entertaining. Step outside to a covered patio ideal for gatherings, along with a spacious driveway and beautifully landscaped yard. Located in a quiet, established neighborhood with mature trees, this move-in ready home blends comfort, style, and convenience.

8. 2026-02-23
   listed $225,000 Active 782-char remark

   Show marketing remark (782 chars)

   Ready for it's next owner! This charming single-family home offers 3 bedrooms and 2 bathrooms with 1,457 sq. ft. of living space on a 6,300 sq. ft. lot. Recent upgrades provide peace of mind, including a 1-year-old roof and electric panel, 3-year-old water heater, 5-year-old HVAC system, plus new flooring and fresh interior and exterior paint. The bright, open living room features vaulted ceilings and a brick fireplace, flowing seamlessly into the dining area and kitchen—perfect for everyday living and entertaining. Step outside to a covered patio ideal for gatherings, along with a spacious driveway and beautifully landscaped yard. Located in a quiet, established neighborhood with mature trees, this move-in ready home blends comfort, style, and convenience.

9. 2026-02-20
   historical
10. 2026-02-20
    listed $225,000 Active
11. 2019-05-02
    soldstatus
12. 2019-05-02
    soldstatus
13. 2019-05-02
    soldstatus
14. 2019-04-30
    soldstatus Sold
15. 2019-04-17
    status Pending
16. 2019-04-13
    status Option Pending
17. 2019-04-11
    listed $142,500 Active
18. 2004-01-13
    soldstatus
19. 1997-07-07
    soldstatus
20. 1997-07-07
    soldstatus $461,510

ⓘ 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: $4,854 · $404/mo
• Projected year-2 tax: $4,854 · $404/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: $27,123
• − Mortgage interest: −$12,038
• − Property taxes: −$4,854
• − Insurance: −$1,074
• − Repairs & maintenance: −$2,170
• − Management: −$2,170
• − HOA: −$432
• − Depreciation: −$6,252
• Taxable loss: −$1,866
• Est. tax savings @ 24.0%: +$448
• After-tax cash flow: $1,991/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

-53.4% since first listed

20 events — show timeline

• 2026-05-11 Pending — HARMLS
• 2026-05-06 Pending — HARMLS
• 2026-04-15 Relisted — HARMLS
• 2026-04-06 Pending — HARMLS
• 2026-03-29 Pending — HARMLS
• 2026-03-23 Price Changed $214,900 HARMLS
• 2026-03-14 Price Changed $220,000 HARMLS
• 2026-02-23 Listed $225,000 HARMLS
• 2026-02-20 Listed $225,000 HARMLS
• 2026-02-20 Listing Removed — HARMLS
• 2019-05-02 Sold (Public Records) — Public Records
• 2019-05-02 Sold (Public Records) — Public Records
• 2019-05-02 Sold (Public Records) — Public Records
• 2019-04-30 Sold (MLS) — HARMLS
• 2019-04-17 Pending — HARMLS
• 2019-04-13 Pending — HARMLS
• 2019-04-11 Listed $142,500 HARMLS
• 2004-01-13 Sold (Public Records) — Public Records
• 1997-07-07 Sold (Public Records) $461,510 Public Records
• 1997-07-07 Sold (Public Records) — Public Records

Property tax history

+4.8%/yr

Latest (2025): $4,854 · +12.4% YoY. Source: county tax records.