23310 Dew Wood Ln · Spring, TX 77373

$234,950

3 bd · 2.0 ba · 1,512 sqft · SingleFamily public records · 69 Days on market

Built 1981 6,298 sqft lot $155/sqft · at area comps Est $237k · at est. $38/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 +13.2/30.0
• ARV discount +7.8/15.0
• 1% rule +4.6/10.0
• DSCR +4.0/10.0
• 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

Beautifully remodeled in 2023, this 3-bedroom, 2-bath home in Spring, TX features a versatile bonus room that can serve as an office, study, game room, gym, or additional bedroom. The open-concept layout offers bright living, dining, and kitchen areas, ideal for everyday living and entertaining. The upgraded kitchen includes luxury quartz countertops, modern fixtures, soft-closing cabinets and drawers, and dedicated pots and pans drawers with ample storage. Additional upgrades include new flooring, recessed lighting, and fresh paint throughout. Updates also include a new electrical panel, new fixtures and hardware, and a tankless water heater in The bonus room, This room was initially a Garage converted by the prior Owner. Enjoy a wood-burning fireplace and a spacious backyard with pergola, perfect for relaxing or entertaining. In a family-friendly community. Washer and Dryer included, Refrigerator not included. This Gem won’t last long!

Key facts

• Spacious backyard
• Upgraded kitchen
• 6,298 sq ft lot

Tags

• UPGRADED KITCHEN
• LUXURY QUARTZ COUNTERTOPS
• SOFT-CLOSING CABINETS
• TANKLESS WATER HEATER
• WOOD-BURNING FIREPLACE
• SPACIOUS BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $235k.

Deal economics

• At list price, monthly cash flow is $-5 ($-63/yr) — negative.
• To cash-flow at today's rent, offer at most $234k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (3.6% below list).
• Recommended offer: $221k (6.0% 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: 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 $2k of loan paydown is wiped out by about $7k 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 69 days — a 6% lower offer ($221k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y 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 $220,853 (6.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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: 0.96% ✗
• Cap rate: 6.27%
• Cash-on-cash: -0.10%
• DSCR: 1.00
• GRM: 8.6

CMA / ARV

• ARV (median comp): $236,544
• List price: $234,950
• Delta: -0.67%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

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 (+2%)	7mo	$210,000	$136	86
23142 Calico Corners Ln	0.13mi	3/2.0	1,599 (+6%)	19mo	$179,000	$112	69
5030 Monteith Dr	0.09mi	3/2.0	1,653 (+9%)	22mo	$180,000	$109	62
23110 Ludgate Dr	0.63mi	3/2.0	1,474 (-2%)	13mo	$220,000	$149	55
4555 Algernon Dr	0.58mi	3/2.0	1,360 (-10%)	16mo	$205,000	$151	42

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: -20.2%
• Equity multiple: 0.32×
• Total profit: $-44,906
• Equity at exit: $35,032

10-year hold

• IRR: -22.9%
• Equity multiple: 0.02×
• Total profit: $-64,625
• Equity at exit: $20,314

Cash invested: $65,786 (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: 8.6×

Monthly cashflow live

• Estimated rent: $2,265 medium
• Mortgage (P&I): −$1,232
• Tax from tax record: −$427 /mo · $5,122/yr
• Insurance: −$98
• HOA: −$38
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $-5

Break-even live

Break-even rent $2,272

Max offer price $234,021

Occupancy floor 95%

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: $58,738
• Closing costs: $7,048
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $38 · $456/yr
• Likely covers: waterelectricgym

Listing history 32 events

1. 2026-06-18
   days on market $234,950 Active 69 DOM
2. 2026-06-17
   days on market $234,950 Active 68 DOM
3. 2026-06-16
   days on market $234,950 Active 67 DOM
4. 2026-06-15
   days on market $234,950 Active 66 DOM
5. 2026-06-13
   days on market $234,950 Active 64 DOM
6. 2026-06-13
   days on market $234,950 Active 63 DOM
7. 2026-06-09
   days on market $234,950 Active 60 DOM
8. 2026-06-08
   days on market $234,950 Active 59 DOM
9. 2026-06-07
   pricedays on market $234,950 Active 58 DOM
10. 2026-06-04
    days on market $239,950 Active 55 DOM
11. 2026-06-03
    days on market $239,950 Active 54 DOM
12. 2026-06-02
    days on market $239,950 Active 53 DOM
13. 2026-06-01
    days on market $239,950 Active 52 DOM
14. 2026-05-31
    days on market $239,950 Active 51 DOM
15. 2026-04-10
    listed $239,950 Active 958-char remark

    Show marketing remark (958 chars)

    Beautifully remodeled in 2023, this 3-bedroom, 2-bath home in Spring, TX features a versatile bonus room that can serve as an office, study, game room, gym, or additional bedroom. The open-concept layout offers bright living, dining, and kitchen areas, ideal for everyday living and entertaining. The upgraded kitchen includes luxury quartz countertops, modern fixtures, soft-closing cabinets and drawers, and dedicated pots and pans drawers with ample storage. Additional upgrades include new flooring, recessed lighting, and fresh paint throughout. Updates also include a new electrical panel, new fixtures and hardware, and a tankless water heater in The bonus room, This room was initially a Garage converted by the prior Owner. Enjoy a wood-burning fireplace and a spacious backyard with pergola, perfect for relaxing or entertaining. In a family-friendly community. Washer and Dryer included, Refrigerator not included. This Gem won’t last long!

16. 2025-08-31
    historical
17. 2025-06-02
    price $248,000
18. 2025-02-23
    listed $256,000 Active
19. 2023-11-29
    soldstatus
20. 2023-11-28
    soldstatus Sold
21. 2023-10-11
    status Pending
22. 2023-10-01
    status Option Pending
23. 2023-09-14
    listed $230,000 Active
24. 2023-08-25
    soldstatus
25. 2015-12-23
    soldstatus
26. 2015-12-21
    soldstatus Sold
27. 2015-11-23
    status Pending
28. 2015-11-13
    status Option Pending
29. 2015-10-30
    status Active
30. 2015-10-25
    status Option Pending
31. 2015-10-04
    listed $115,000 Active
32. 1991-01-02
    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: $5,122 · $427/mo
• Projected year-2 tax: $5,122 · $427/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 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: $27,184
• − Mortgage interest: −$13,161
• − Property taxes: −$5,122
• − Insurance: −$1,175
• − Repairs & maintenance: −$2,175
• − Management: −$2,175
• − HOA: −$456
• − Depreciation: −$6,835
• Taxable loss: −$3,914
• Est. tax savings @ 24.0%: +$939
• After-tax cash flow: $876/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

+108.7% since first listed

18 events — show timeline

• 2026-04-10 Listed $239,950 HARMLS
• 2025-08-31 Listing Removed — HARMLS
• 2025-06-02 Price Changed $248,000 HARMLS
• 2025-02-23 Listed $256,000 HARMLS
• 2023-11-29 Sold (Public Records) — Public Records
• 2023-11-28 Sold (MLS) — HARMLS
• 2023-10-11 Pending — HARMLS
• 2023-10-01 Pending — HARMLS
• 2023-09-14 Listed $230,000 HARMLS
• 2023-08-25 Sold (Public Records) — Public Records
• 2015-12-23 Sold (Public Records) — Public Records
• 2015-12-21 Sold (MLS) — HARMLS
• 2015-11-23 Pending — HARMLS
• 2015-11-13 Pending — HARMLS
• 2015-10-30 Relisted — HARMLS
• 2015-10-25 Pending — HARMLS
• 2015-10-04 Listed $115,000 HARMLS
• 1991-01-02 Sold (Public Records) — Public Records

Property tax history

+8.9%/yr

Latest (2025): $5,122 · +6.7% YoY. Source: county tax records.