23339 Whittaker Way · Spring, TX 77373

$179,500

2 bd · 2.0 ba · 1,271 sqft · SingleFamily public records · 11 Days on market

Built 1983 3,584 sqft lot Est $201k · 11% under

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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 +14.8/30.0
• ARV discount +12.3/15.0
• 1% rule +5.2/10.0
• DSCR +4.5/10.0
• 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

Fantastic opportunity to own a well cared for 3 bedroom / 2 bathroom home in Spring! Corner lot. New vinyl plank flooring installed throughout 5/2026; no carpet anywhere! Both bathrooms remodeled in 2025! 30 year shingle roof installed 2019. Washer/dryer/refrigerator included. Covered patio and easy to maintain backyard. Schedule a tour today!

Key facts

• Covered patio
• 30 year shingle roof
• Corner lot

Tags

• CORNER LOT
• VINYL PLANK FLOORING
• REMODELED BATHROOMS
• 30 YEAR SHINGLE ROOF
• COVERED PATIO
• EASY TO MAINTAIN BACKYARD

Property features AI

Exterior

• Parking: Attached garage (1 space)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Residential property; Built in 1983; Slab foundation; Composition roof; Subdivision setting; Concrete road access
• Construction: Brick construction
• Exterior features: Deck; Patio; Fenced backyard

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Microwave; Refrigerator
• Bedrooms: Primary bedroom (first level) — 11x13; Bedroom (first level) — 10x11; Bedroom (first level) — 10x11
• Flooring: Plank; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (electric); Central air (electric)
• Interior features: Kitchen/family room combo; Pantry; Soaking tub; Window treatments; Ceiling fan(s); Wood-burning fireplace (1); Window coverings
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $51 ($606/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Cap rate 6.6% 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); 599 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

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→25/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $179,500

Questions for the listing agent

1. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 6.63%
• Cash-on-cash: 1.21%
• DSCR: 1.05
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $200,818
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23303 Whittaker Way	0.08mi	2/2.0	1,354 (+6%)	12mo	$192,500	$142	75
4015 Donalbain Dr	0.36mi	3/2.0 (+1)	1,322 (+4%)	0mo	$168,000	$127	71
4106 Donalbain Dr	0.40mi	3/2.0 (+1)	1,353 (+6%)	14mo	$239,999	$177	54
3715 Arbor Trails Dr	0.55mi	3/2.0 (+1)	1,364 (+7%)	4mo	$215,000	$158	54
3618 Yellow Arbor Dr	0.57mi	3/2.0 (+1)	1,384 (+9%)	14mo	$220,000	$159	42
4555 Algernon Dr	0.65mi	3/2.0 (+1)	1,360 (+7%)	16mo	$205,000	$151	39
3714 Yellow Arbor Drive Dr	0.54mi	3/2.0 (+1)	1,383 (+9%)	22mo	$239,000	$173	37
3519 Fiorella Way	0.72mi	3/2.0 (+1)	1,335 (+5%)	20mo	$199,900	$150	37
22843 Spruce Summit Trl	0.72mi	3/2.0 (+1)	1,380 (+9%)	21mo	$236,000	$171	29
21523 Trilby Way	0.72mi	3/2.0 (+1)	1,441 (+13%)	13mo	$210,000	$146	28

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: -18.2%
• Equity multiple: 0.38×
• Total profit: $-31,117
• Equity at exit: $26,764

10-year hold

• IRR: -18.9%
• Equity multiple: 0.14×
• Total profit: $-43,211
• Equity at exit: $15,520

Cash invested: $50,260 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,833 medium
• Mortgage (P&I): −$941
• Tax from tax record: −$382 /mo · $4,580/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$385
• Net cashflow: $51

Break-even live

Break-even rent $1,769

Max offer price $179,500

Occupancy floor 92%

Sensitivity live

Price	-10% $152	-5% $101	+0% $51	+5% $0	+10% $-51
Rent	-10% $-94	-5% $-22	+0% $51	+5% $123	+10% $195
Rate	-1.0pp $141	-0.5pp $96	base $51	+0.5pp $4	+1.0pp $-43

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: $44,875
• Closing costs: $5,385
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2427 Gianna Way Houston, TX	3.0	2.5	1777	$1,826	$1.03	8d	1	1.35mi
21631 S Werrington Way Houston, TX	3.0	3.0	1645	$1,900	$1.16	44d	1	1.40mi

Listing history 5 events

1. 2026-05-31
   days on market $179,500 Pending 11 DOM
2. 2026-05-20
   listed $179,500 Active
3. 2013-01-02
   soldstatus
4. 2003-06-04
   soldstatus
5. 1993-01-22
   soldstatus

ⓘ 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: $4,580 · $382/mo
• Projected year-2 tax: $4,580 · $382/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 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: $22,000
• − Mortgage interest: −$10,055
• − Property taxes: −$4,580
• − Insurance: −$898
• − Repairs & maintenance: −$1,760
• − Management: −$1,760
• − Depreciation: −$5,222
• Taxable loss: −$2,275
• Est. tax savings @ 24.0%: +$546
• After-tax cash flow: $1,152/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

4 events — show timeline

• 2026-05-20 Listed $179,500 HARMLS
• 2013-01-02 Sold (Public Records) — Public Records
• 2003-06-04 Sold (Public Records) — Public Records
• 1993-01-22 Sold (Public Records) — Public Records

Property tax history

+3.6%/yr

Latest (2025): $4,580 · +7.3% YoY. Source: county tax records.