25023 Birnam Wood Blvd · Spring, TX 77373

$215,000

3 bd · 2.0 ba · 1,399 sqft · SingleFamily public records · 213 Days on market

Built 1998 7,440 sqft lot $154/sqft · at area comps Est $209k · at est. $15/mo HOA · 1% 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 +15.6/30.0
• ARV discount +6.1/15.0
• 1% rule +5.8/10.0
• DSCR +4.8/10.0
• 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

Investors Paradise home in Spring, Texas. Located in the sought-after Springridge subdivision, this charming 3-bedroom, 2-bath, one-story property offers a new roof, new floors, and thoughtful updates throughout. Enjoy easy access to I-45 and Hardy Toll Road for a convenient commute. Inside you will find laminate flooring throughout for easy maintenance, a bright kitchen that opens to the breakfast area, and a spacious living room with vaulted ceilings. It is perfect for relaxing or entertaining. The large backyard includes a covered side porch and plenty of room for outdoor fun or gardening. This home is a fantastic opportunity for investor looking for a GOOD ROI, GREAT value, and AMAZING LOCATION in Springridge.

Key facts

• New floors
• Bright kitchen
• Laminate flooring

Tags

• UPDATED HOME
• NEW ROOF
• NEW FLOORS
• SPRINGRIDGE SUBDIVISION
• LAMINATE FLOORING
• BRIGHT KITCHEN

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 $92 ($1k/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: $189k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.8% 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); 599 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 $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 213 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts; this cycle's ask is 13508% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $80k; list at $215k implies a 169% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% 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 $189,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 213 days. Have you received any prior offers? Is the seller open to a 12% 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. 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: 1.08% ✓
• Cap rate: 6.81%
• Cash-on-cash: 1.83%
• DSCR: 1.08
• GRM: 7.7

CMA / ARV

• ARV (median comp): $208,608
• List price: $215,000
• Delta: 3.06%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2619 Goldspring Ln	0.31mi	3/2.0	1,267 (-9%)	9mo	$155,000	$122	62

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: -17.3%
• Equity multiple: 0.41×
• Total profit: $-35,613
• Equity at exit: $32,057

10-year hold

• IRR: -17.7%
• Equity multiple: 0.18×
• Total profit: $-49,069
• Equity at exit: $18,589

Cash invested: $60,200 (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: 599
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $2,332 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$518 /mo · $6,215/yr
• Insurance: −$90
• HOA: −$15
• Vacancy / Maint / Mgmt: −$490
• Net cashflow: $92

Break-even live

Break-even rent $2,215

Max offer price $215,000

Occupancy floor 91%

Sensitivity live

Price	-10% $214	-5% $153	+0% $92	+5% $31	+10% $-30
Rent	-10% $-92	-5% $0	+0% $92	+5% $184	+10% $276
Rate	-1.0pp $200	-0.5pp $147	base $92	+0.5pp $36	+1.0pp $-20

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $15 · $180/yr

Listing history 38 events

1. 2026-06-21
   days on market $215,000 Active 213 DOM
2. 2026-06-18
   days on market $215,000 Active 210 DOM
3. 2026-06-17
   days on market $215,000 Active 209 DOM
4. 2026-06-16
   days on market $215,000 Active 208 DOM
5. 2026-06-15
   days on market $215,000 Active 207 DOM
6. 2026-06-13
   days on market $215,000 Active 205 DOM
7. 2026-06-13
   days on market $215,000 Active 204 DOM
8. 2026-06-09
   days on market $215,000 Active 201 DOM
9. 2026-06-08
   days on market $215,000 Active 200 DOM
10. 2026-06-07
    days on market $215,000 Active 199 DOM
11. 2026-06-04
    days on market $215,000 Active 196 DOM
12. 2026-06-03
    days on market $215,000 Active 195 DOM
13. 2026-06-02
    days on market $215,000 Active 194 DOM
14. 2026-06-01
    days on market $215,000 Active 193 DOM
15. 2026-05-31
    days on market $215,000 Active 192 DOM
16. 2025-12-17
    historical $1,580
17. 2025-11-26
    listed $1,580
18. 2025-11-25
    historical $1,580
19. 2025-11-20
    listed $215,000 Active 725-char remark

    Show marketing remark (725 chars)

    Investors Paradise home in Spring, Texas. Located in the sought-after Springridge subdivision, this charming 3-bedroom, 2-bath, one-story property offers a new roof, new floors, and thoughtful updates throughout. Enjoy easy access to I-45 and Hardy Toll Road for a convenient commute. Inside you will find laminate flooring throughout for easy maintenance, a bright kitchen that opens to the breakfast area, and a spacious living room with vaulted ceilings. It is perfect for relaxing or entertaining. The large backyard includes a covered side porch and plenty of room for outdoor fun or gardening. This home is a fantastic opportunity for investor looking for a GOOD ROI, GREAT value, and AMAZING LOCATION in Springridge.

20. 2025-11-16
    listed $1,580
21. 2025-11-15
    historical $1,650
22. 2025-10-15
    listed $1,650
23. 2025-10-14
    historical $1,750
24. 2025-10-13
    listed $1,750
25. 2025-10-12
    historical $1,750
26. 2025-09-17
    listed $1,750
27. 2025-09-16
    historical $1,850
28. 2025-09-06
    listed $1,850
29. 2025-09-05
    historical $1,850
30. 2025-08-25
    listed $1,850
31. 2025-08-25
    historical $1,850
32. 2025-08-13
    listed $1,850
33. 2025-07-07
    soldstatus Closed 698-char remark

    Show marketing remark (698 chars)

    Welcome home to this charming one story home in Springridge. Located just minutes from 45, Hardy Toll Road, and 99, this property has laminate flooring throughout all of the house (except for 1 bedroom). The large backyard features a covered porch area, and plenty of space to play, garden, or both! The property conveys with the washer and dryer, and the laundry room is in the house (not the garage). The well appointed kitchen connects to the bright and sunny breakfast room. From there you can see into the living room, with its vaulted ceilings, and enjoy the company of the people gathered there. A wonderful place to call home, this property is priced to sell, so schedule you showing today!

34. 2025-07-07
    soldstatus

    Show marketing remark (698 chars)

    Welcome home to this charming one story home in Springridge. Located just minutes from 45, Hardy Toll Road, and 99, this property has laminate flooring throughout all of the house (except for 1 bedroom). The large backyard features a covered porch area, and plenty of space to play, garden, or both! The property conveys with the washer and dryer, and the laundry room is in the house (not the garage). The well appointed kitchen connects to the bright and sunny breakfast room. From there you can see into the living room, with its vaulted ceilings, and enjoy the company of the people gathered there. A wonderful place to call home, this property is priced to sell, so schedule you showing today!

35. 2025-06-24
    status Pending 698-char remark

    Show marketing remark (698 chars)

    Welcome home to this charming one story home in Springridge. Located just minutes from 45, Hardy Toll Road, and 99, this property has laminate flooring throughout all of the house (except for 1 bedroom). The large backyard features a covered porch area, and plenty of space to play, garden, or both! The property conveys with the washer and dryer, and the laundry room is in the house (not the garage). The well appointed kitchen connects to the bright and sunny breakfast room. From there you can see into the living room, with its vaulted ceilings, and enjoy the company of the people gathered there. A wonderful place to call home, this property is priced to sell, so schedule you showing today!

36. 2025-06-23
    status Option Pending 698-char remark

    Show marketing remark (698 chars)

    Welcome home to this charming one story home in Springridge. Located just minutes from 45, Hardy Toll Road, and 99, this property has laminate flooring throughout all of the house (except for 1 bedroom). The large backyard features a covered porch area, and plenty of space to play, garden, or both! The property conveys with the washer and dryer, and the laundry room is in the house (not the garage). The well appointed kitchen connects to the bright and sunny breakfast room. From there you can see into the living room, with its vaulted ceilings, and enjoy the company of the people gathered there. A wonderful place to call home, this property is priced to sell, so schedule you showing today!

37. 2025-06-18
    listed $170,800 Active 698-char remark

    Show marketing remark (698 chars)

    Welcome home to this charming one story home in Springridge. Located just minutes from 45, Hardy Toll Road, and 99, this property has laminate flooring throughout all of the house (except for 1 bedroom). The large backyard features a covered porch area, and plenty of space to play, garden, or both! The property conveys with the washer and dryer, and the laundry room is in the house (not the garage). The well appointed kitchen connects to the bright and sunny breakfast room. From there you can see into the living room, with its vaulted ceilings, and enjoy the company of the people gathered there. A wonderful place to call home, this property is priced to sell, so schedule you showing today!

38. 1999-05-17
    soldstatus $80,000

ⓘ 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: $6,215 · $518/mo
• Projected year-2 tax: $6,215 · $518/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 9/10 Extreme 7 d/yr ≥111°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: $27,980
• − Mortgage interest: −$12,043
• − Property taxes: −$6,215
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,238
• − Management: −$2,238
• − HOA: −$180
• − Depreciation: −$6,255
• Taxable loss: −$2,265
• Est. tax savings @ 24.0%: +$544
• After-tax cash flow: $1,648/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

-98.0% since first listed

23 events — show timeline

• 2025-12-17 Rental Removed $1,580 RENTSPREE
• 2025-11-26 Listed for Rent $1,580 RENTSPREE
• 2025-11-25 Rental Removed $1,580 HARMLS
• 2025-11-20 Listed $215,000 HARMLS
• 2025-11-16 Listed for Rent $1,580 HARMLS
• 2025-11-15 Rental Removed $1,650 HARMLS
• 2025-10-15 Listed for Rent $1,650 HARMLS
• 2025-10-14 Rental Removed $1,750 RENTSPREE
• 2025-10-13 Listed for Rent $1,750 RENTSPREE
• 2025-10-12 Rental Removed $1,750 HARMLS
• 2025-09-17 Listed for Rent $1,750 HARMLS
• 2025-09-16 Rental Removed $1,850 RENTSPREE
• 2025-09-06 Listed for Rent $1,850 RENTSPREE
• 2025-09-05 Rental Removed $1,850 HARMLS
• 2025-08-25 Listed for Rent $1,850 HARMLS
• 2025-08-25 Rental Removed $1,850 RENTSPREE
• 2025-08-13 Listed for Rent $1,850 RENTSPREE
• 2025-07-07 Sold (Public Records) — Public Records
• 2025-07-07 Sold (MLS) — HARMLS
• 2025-06-24 Pending — HARMLS
• 2025-06-23 Pending — HARMLS
• 2025-06-18 Listed $170,800 HARMLS
• 1999-05-17 Sold (Public Records) $80,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $6,215 · +1.3% YoY. Source: county tax records.