5023 Monteith Dr · Spring, TX 77373

$215,000

3 bd · 2.0 ba · 1,540 sqft · SingleFamily public records · 31 Days on market

Built 1981 7,148 sqft lot Est $209k · at est. $31/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 +15.7/30.0
• ARV discount +6.3/15.0
• 1% rule +5.9/10.0
• 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

3 bedroom 2 bath remodeled home in Fairfax! Laminate flooring and tile through most of the the home. Secondary bath has been remodeled with new cabinets and tile in the shower. Kitchen is open to family room with vaulted ceiling and cozy corner fireplace, formal dining room overlooks the shaded front yard. Outside the family room is a generous backyard with a large covered patio. Kitchen has granite countertops and a new microwave and dishwasher. Home also has a new roof that is only 3 months old!

Key facts

• Covered porch
• Ample counter space
• Large living area

Tags

• COVERED PORCH
• LARGE LIVING AREA
• VAULTED CEILINGS
• COZY BRICK FIREPLACE
• GENEROUS CABINETRY
• AMPLE COUNTER SPACE

Property features AI

Finance

• Other: Seller disclosure available
• HOA & community: Birnam Wood Fairfax HOA Inc with an annual fee of $370

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 1981; Slab foundation; Composition roof
• Construction: Brick construction
• Exterior features: Fenced backyard; Subdivision lot setting

Interior

• Kitchen: Electric oven; Electric range; Microwave
• Bedrooms: 3 rooms total
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central electric air conditioning
• Interior features: Ceiling fans; One fireplace

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 $93 ($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: $209k (3.0% 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: 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: Mildred Jenkins El (math 17% / reading 30%, grade F, #3,247 of 4,322 statewide, top 76%, 623 students, 90% FRL); Dueitt Middle (math 12% / reading 23%, grade F, #1,507 of 1,662 statewide, top 91%, 773 students, 84% 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 average 82% FRL vs 66% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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 $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 31 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 18y 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.
• Current owner paid $30k; list at $215k implies a 617% 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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $208,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% 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. 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: 1.09% ✓
• Cap rate: 6.81%
• Cash-on-cash: 1.86%
• DSCR: 1.08
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $209,440
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23114 Goodfellow Dr	0.10mi	3/2.0	1,541 (+0%)	7mo	$210,000	$136	90
23142 Calico Corners Ln	0.19mi	3/2.0	1,599 (+4%)	19mo	$179,000	$112	69
5030 Monteith Dr	0.04mi	3/2.0	1,653 (+7%)	22mo	$180,000	$109	68
23110 Ludgate Dr	0.52mi	3/2.0	1,474 (-4%)	13mo	$220,000	$149	57
4555 Algernon Dr	0.48mi	3/2.0	1,360 (-12%)	17mo	$205,000	$151	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: -17.3%
• Equity multiple: 0.41×
• Total profit: $-35,578
• Equity at exit: $32,057

10-year hold

• IRR: -17.8%
• Equity multiple: 0.18×
• Total profit: $-49,086
• 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: 603
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,347 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$513 /mo · $6,151/yr
• Insurance: −$90
• HOA: −$31
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $93

Break-even live

Break-even rent $2,229

Max offer price $215,000

Occupancy floor 91%

Sensitivity live

Price	-10% $215	-5% $154	+0% $93	+5% $32	+10% $-29
Rent	-10% $-92	-5% $0	+0% $93	+5% $186	+10% $279
Rate	-1.0pp $201	-0.5pp $148	base $93	+0.5pp $37	+1.0pp $-19

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: $31 · $372/yr

Listing history 34 events

1. 2026-06-21
   days on market $215,000 Active 31 DOM
2. 2026-06-18
   days on market $215,000 Active 28 DOM
3. 2026-06-17
   days on market $215,000 Active 27 DOM
4. 2026-06-16
   days on market $215,000 Active 26 DOM
5. 2026-06-15
   days on market $215,000 Active 25 DOM
6. 2026-06-13
   days on market $215,000 Active 23 DOM
7. 2026-06-13
   days on market $215,000 Active 22 DOM
8. 2026-06-09
   days on market $215,000 Active 19 DOM
9. 2026-06-08
   days on market $215,000 Active 18 DOM
10. 2026-06-07
    days on market $215,000 Active 17 DOM
11. 2026-06-04
    days on market $215,000 Active 14 DOM
12. 2026-06-03
    days on market $215,000 Active 13 DOM
13. 2026-06-02
    days on market $215,000 Active 12 DOM
14. 2026-06-01
    days on market $215,000 Active 11 DOM
15. 2026-05-31
    days on market $215,000 Active 10 DOM
16. 2026-05-21
    listed $215,000 Active
17. 2026-02-18
    historical $1,600
18. 2026-01-08
    listed $1,600
19. 2026-01-07
    historical $1,600
20. 2025-12-20
    listed $1,600
21. 2022-08-11
    soldstatus
22. 2022-08-09
    soldstatus Sold 502-char remark

    Show marketing remark (502 chars)

    3 bedroom 2 bath remodeled home in Fairfax! Laminate flooring and tile through most of the the home. Secondary bath has been remodeled with new cabinets and tile in the shower. Kitchen is open to family room with vaulted ceiling and cozy corner fireplace, formal dining room overlooks the shaded front yard. Outside the family room is a generous backyard with a large covered patio. Kitchen has granite countertops and a new microwave and dishwasher. Home also has a new roof that is only 3 months old!

23. 2022-08-03
    status Pending 502-char remark

    Show marketing remark (502 chars)

    3 bedroom 2 bath remodeled home in Fairfax! Laminate flooring and tile through most of the the home. Secondary bath has been remodeled with new cabinets and tile in the shower. Kitchen is open to family room with vaulted ceiling and cozy corner fireplace, formal dining room overlooks the shaded front yard. Outside the family room is a generous backyard with a large covered patio. Kitchen has granite countertops and a new microwave and dishwasher. Home also has a new roof that is only 3 months old!

24. 2022-07-29
    status Option Pending 502-char remark

    Show marketing remark (502 chars)

    3 bedroom 2 bath remodeled home in Fairfax! Laminate flooring and tile through most of the the home. Secondary bath has been remodeled with new cabinets and tile in the shower. Kitchen is open to family room with vaulted ceiling and cozy corner fireplace, formal dining room overlooks the shaded front yard. Outside the family room is a generous backyard with a large covered patio. Kitchen has granite countertops and a new microwave and dishwasher. Home also has a new roof that is only 3 months old!

25. 2022-07-29
    status Pending 502-char remark

    Show marketing remark (502 chars)

    3 bedroom 2 bath remodeled home in Fairfax! Laminate flooring and tile through most of the the home. Secondary bath has been remodeled with new cabinets and tile in the shower. Kitchen is open to family room with vaulted ceiling and cozy corner fireplace, formal dining room overlooks the shaded front yard. Outside the family room is a generous backyard with a large covered patio. Kitchen has granite countertops and a new microwave and dishwasher. Home also has a new roof that is only 3 months old!

26. 2022-07-22
    status Option Pending 502-char remark

    Show marketing remark (502 chars)

    3 bedroom 2 bath remodeled home in Fairfax! Laminate flooring and tile through most of the the home. Secondary bath has been remodeled with new cabinets and tile in the shower. Kitchen is open to family room with vaulted ceiling and cozy corner fireplace, formal dining room overlooks the shaded front yard. Outside the family room is a generous backyard with a large covered patio. Kitchen has granite countertops and a new microwave and dishwasher. Home also has a new roof that is only 3 months old!

27. 2022-07-17
    listed $199,900 Active 502-char remark

    Show marketing remark (502 chars)

    3 bedroom 2 bath remodeled home in Fairfax! Laminate flooring and tile through most of the the home. Secondary bath has been remodeled with new cabinets and tile in the shower. Kitchen is open to family room with vaulted ceiling and cozy corner fireplace, formal dining room overlooks the shaded front yard. Outside the family room is a generous backyard with a large covered patio. Kitchen has granite countertops and a new microwave and dishwasher. Home also has a new roof that is only 3 months old!

28. 2011-05-13
    soldstatus 277-char remark

    Show marketing remark (277 chars)

    FORECLOSURE, INVESTORS YOUR ARE GOING TO LOVE THIS HOME, DON'T DELAY, HURRY AND SCHEDULE A SHOWING. ONE STORY, BRICK AND WOOD EXTERIOR WITH TWO CAR ATTACHED GARAGE, DEN WITH FIREPLACE, DINING, THREE BEDROOMS AND TWO BATHS. TILE FLOORS IN KITCHEN, HALL, FOYER AND PART OF DEN.

29. 2011-05-02
    historical 277-char remark

    Show marketing remark (277 chars)

    FORECLOSURE, INVESTORS YOUR ARE GOING TO LOVE THIS HOME, DON'T DELAY, HURRY AND SCHEDULE A SHOWING. ONE STORY, BRICK AND WOOD EXTERIOR WITH TWO CAR ATTACHED GARAGE, DEN WITH FIREPLACE, DINING, THREE BEDROOMS AND TWO BATHS. TILE FLOORS IN KITCHEN, HALL, FOYER AND PART OF DEN.

30. 2011-04-21
    listed $24,900 277-char remark

    Show marketing remark (277 chars)

    FORECLOSURE, INVESTORS YOUR ARE GOING TO LOVE THIS HOME, DON'T DELAY, HURRY AND SCHEDULE A SHOWING. ONE STORY, BRICK AND WOOD EXTERIOR WITH TWO CAR ATTACHED GARAGE, DEN WITH FIREPLACE, DINING, THREE BEDROOMS AND TWO BATHS. TILE FLOORS IN KITCHEN, HALL, FOYER AND PART OF DEN.

31. 2009-04-07
    historical
32. 2008-09-09
    listed $105,900
33. 1998-09-29
    soldstatus
34. 1988-06-01
    soldstatus $30,000

ⓘ 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: $6,151 · $513/mo
• Projected year-2 tax: $6,151 · $513/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 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 25 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: $28,160
• − Mortgage interest: −$12,043
• − Property taxes: −$6,151
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,253
• − Management: −$2,253
• − HOA: −$372
• − Depreciation: −$6,255
• Taxable loss: −$2,242
• Est. tax savings @ 24.0%: +$538
• After-tax cash flow: $1,656/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

+616.7% since first listed

19 events — show timeline

• 2026-05-21 Listed $215,000 HARMLS
• 2026-02-18 Rental Removed $1,600 RentEngineListings
• 2026-01-08 Listed for Rent $1,600 RentEngineListings
• 2026-01-07 Rental Removed $1,600 HARMLS
• 2025-12-20 Listed for Rent $1,600 HARMLS
• 2022-08-11 Sold (Public Records) — Public Records
• 2022-08-09 Sold (MLS) — HARMLS
• 2022-08-03 Pending — HARMLS
• 2022-07-29 Pending — HARMLS
• 2022-07-29 Pending — HARMLS
• 2022-07-22 Pending — HARMLS
• 2022-07-17 Listed $199,900 HARMLS
• 2011-05-13 Sold (MLS) — HARMLS
• 2011-05-02 Listing Removed — HARMLS
• 2011-04-21 Listed $24,900 HARMLS
• 2009-04-07 Listing Removed — HARMLS
• 2008-09-09 Listed $105,900 HARMLS
• 1998-09-29 Sold (Public Records) — Public Records
• 1988-06-01 Sold (Public Records) $30,000 Public Records

Property tax history

+5.9%/yr

Latest (2025): $6,151 · -2.2% YoY. Source: county tax records.