22103 Diane Dr · Spring, TX 77373

$194,500

4 bd · 2.0 ba · 1,245 sqft · Townhouse public records · 7 Days on market

Built 1984 3,301 sqft lot $33/mo HOA · 1% of rent

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Why this score? — see what drove the C- 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 +21.5/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +6.7/10.0
• 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

Completely rebuilt and better than ever, this stunning townhome offers the peace of mind of brand new major systems. Fully reconstructed from top to bottom, including new roof, HVAC, water heater, windows, wiring, plumbing, electrical panel, doors, lighting, and fire alarm system. Featuring 3 bedrooms plus a versatile game room and additional room upstairs, can be use as bedroom/study or flex space and 2 full baths, the layout feels open with high ceilings and abundant natural light. Enjoy a cozy fireplace and new ceiling fans throughout. The kitchen includes brand new appliances straight from the box, including refrigerator, stove, microwave, and dishwasher. The garage offers a new door with automatic opener and freshly painted floor. A redesigned backyard with decorative stone and pavers creates a low maintenance outdoor space perfect for relaxing or entertaining. Truly move in ready with modern systems and timeless charm.

Key facts

• Completely rebuilt
• Redesigned backyard
• New appliances

Tags

• COMPLETELY REBUILT
• BRAND-NEW MAJOR SYSTEMS
• NEW APPLIANCES
• REDESIGNED BACKYARD

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath townhouse listed at $194k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $194k).
• Cap rate 8.1% 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

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 16y 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 $194,500

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
5. 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.
6. 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: 1.17% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.42%
• DSCR: 1.29
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -10.2%
• Equity multiple: 0.64×
• Total profit: $-19,525
• Equity at exit: $29,001

10-year hold

• IRR: -6.2%
• Equity multiple: 0.66×
• Total profit: $-18,420
• Equity at exit: $16,817

Cash invested: $54,460 (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: 7.1×

Monthly cashflow live

• Estimated rent: $2,283 medium
• Mortgage (P&I): −$1,020
• Tax from tax record: −$379 /mo · $4,543/yr
• Insurance: −$81
• HOA: −$33
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $291

Break-even live

Break-even rent $1,915

Max offer price $194,500

Occupancy floor 82%

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: $48,625
• Closing costs: $5,835
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $33 · $396/yr
• Likely covers: waterelectric

Listing history 30 events

1. 2026-06-18
   days on market $194,500 Active 7 DOM
2. 2026-06-17
   days on market $194,500 Active 6 DOM
3. 2026-06-16
   days on market $194,500 Active 5 DOM
4. 2026-06-15
   days on market $194,500 Active 4 DOM
5. 2026-06-13
   days on market $194,500 Active 2 DOM
6. 2026-06-13
   pricedays on marketlisting id $194,500 Active 1 DOM
7. 2026-06-09
   days on market $199,900 Active 164 DOM
8. 2026-06-08
   days on market $199,900 Active 163 DOM
9. 2026-06-07
   days on market $199,900 Active 162 DOM
10. 2026-06-04
    days on market $199,900 Active 159 DOM
11. 2026-06-03
    days on market $199,900 Active 158 DOM
12. 2026-06-02
    days on market $199,900 Active 157 DOM
13. 2026-06-01
    days on market $199,900 Active 156 DOM
14. 2026-05-31
    days on market $199,900 Active 155 DOM
15. 2026-03-13
    price $199,900 941-char remark

    Show marketing remark (941 chars)

    Completely rebuilt and better than ever, this stunning townhome offers the peace of mind of brand new major systems. Fully reconstructed from top to bottom, including new roof, HVAC, water heater, windows, wiring, plumbing, electrical panel, doors, lighting, and fire alarm system. Featuring 3 bedrooms plus a versatile game room and additional room upstairs, can be use as bedroom/study or flex space and 2 full baths, the layout feels open with high ceilings and abundant natural light. Enjoy a cozy fireplace and new ceiling fans throughout. The kitchen includes brand new appliances straight from the box, including refrigerator, stove, microwave, and dishwasher. The garage offers a new door with automatic opener and freshly painted floor. A redesigned backyard with decorative stone and pavers creates a low maintenance outdoor space perfect for relaxing or entertaining. Truly move in ready with modern systems and timeless charm.

16. 2026-02-04
    status Active 941-char remark

    Show marketing remark (941 chars)

    Completely rebuilt and better than ever, this stunning townhome offers the peace of mind of brand new major systems. Fully reconstructed from top to bottom, including new roof, HVAC, water heater, windows, wiring, plumbing, electrical panel, doors, lighting, and fire alarm system. Featuring 3 bedrooms plus a versatile game room and additional room upstairs, can be use as bedroom/study or flex space and 2 full baths, the layout feels open with high ceilings and abundant natural light. Enjoy a cozy fireplace and new ceiling fans throughout. The kitchen includes brand new appliances straight from the box, including refrigerator, stove, microwave, and dishwasher. The garage offers a new door with automatic opener and freshly painted floor. A redesigned backyard with decorative stone and pavers creates a low maintenance outdoor space perfect for relaxing or entertaining. Truly move in ready with modern systems and timeless charm.

17. 2025-08-15
    status Pending 941-char remark

    Show marketing remark (941 chars)

    Completely rebuilt and better than ever, this stunning townhome offers the peace of mind of brand new major systems. Fully reconstructed from top to bottom, including new roof, HVAC, water heater, windows, wiring, plumbing, electrical panel, doors, lighting, and fire alarm system. Featuring 3 bedrooms plus a versatile game room and additional room upstairs, can be use as bedroom/study or flex space and 2 full baths, the layout feels open with high ceilings and abundant natural light. Enjoy a cozy fireplace and new ceiling fans throughout. The kitchen includes brand new appliances straight from the box, including refrigerator, stove, microwave, and dishwasher. The garage offers a new door with automatic opener and freshly painted floor. A redesigned backyard with decorative stone and pavers creates a low maintenance outdoor space perfect for relaxing or entertaining. Truly move in ready with modern systems and timeless charm.

18. 2025-08-15
    price $210,000 941-char remark

    Show marketing remark (941 chars)

    Completely rebuilt and better than ever, this stunning townhome offers the peace of mind of brand new major systems. Fully reconstructed from top to bottom, including new roof, HVAC, water heater, windows, wiring, plumbing, electrical panel, doors, lighting, and fire alarm system. Featuring 3 bedrooms plus a versatile game room and additional room upstairs, can be use as bedroom/study or flex space and 2 full baths, the layout feels open with high ceilings and abundant natural light. Enjoy a cozy fireplace and new ceiling fans throughout. The kitchen includes brand new appliances straight from the box, including refrigerator, stove, microwave, and dishwasher. The garage offers a new door with automatic opener and freshly painted floor. A redesigned backyard with decorative stone and pavers creates a low maintenance outdoor space perfect for relaxing or entertaining. Truly move in ready with modern systems and timeless charm.

19. 2025-08-15
    historical 941-char remark

    Show marketing remark (941 chars)

    Completely rebuilt and better than ever, this stunning townhome offers the peace of mind of brand new major systems. Fully reconstructed from top to bottom, including new roof, HVAC, water heater, windows, wiring, plumbing, electrical panel, doors, lighting, and fire alarm system. Featuring 3 bedrooms plus a versatile game room and additional room upstairs, can be use as bedroom/study or flex space and 2 full baths, the layout feels open with high ceilings and abundant natural light. Enjoy a cozy fireplace and new ceiling fans throughout. The kitchen includes brand new appliances straight from the box, including refrigerator, stove, microwave, and dishwasher. The garage offers a new door with automatic opener and freshly painted floor. A redesigned backyard with decorative stone and pavers creates a low maintenance outdoor space perfect for relaxing or entertaining. Truly move in ready with modern systems and timeless charm.

20. 2025-07-07
    listed $198,500 Active 941-char remark

    Show marketing remark (941 chars)

    Completely rebuilt and better than ever, this stunning townhome offers the peace of mind of brand new major systems. Fully reconstructed from top to bottom, including new roof, HVAC, water heater, windows, wiring, plumbing, electrical panel, doors, lighting, and fire alarm system. Featuring 3 bedrooms plus a versatile game room and additional room upstairs, can be use as bedroom/study or flex space and 2 full baths, the layout feels open with high ceilings and abundant natural light. Enjoy a cozy fireplace and new ceiling fans throughout. The kitchen includes brand new appliances straight from the box, including refrigerator, stove, microwave, and dishwasher. The garage offers a new door with automatic opener and freshly painted floor. A redesigned backyard with decorative stone and pavers creates a low maintenance outdoor space perfect for relaxing or entertaining. Truly move in ready with modern systems and timeless charm.

21. 2010-08-06
    soldstatus
22. 2010-08-04
    soldstatus 311-char remark

    Show marketing remark (311 chars)

    Great kept property fresh paint, carpet, laminate flooring in loft. 4/2/1 car garage. Wait until you walk in space feels so much bigger with high ceilings and loft over looking living/dinning area. All appliances are currently included refrigerator, stove, washer & dryer. Call your agent for showing today!

23. 2010-07-11
    historical 311-char remark

    Show marketing remark (311 chars)

    Great kept property fresh paint, carpet, laminate flooring in loft. 4/2/1 car garage. Wait until you walk in space feels so much bigger with high ceilings and loft over looking living/dinning area. All appliances are currently included refrigerator, stove, washer & dryer. Call your agent for showing today!

24. 2010-07-11
    listed $63,000 311-char remark

    Show marketing remark (311 chars)

    Great kept property fresh paint, carpet, laminate flooring in loft. 4/2/1 car garage. Wait until you walk in space feels so much bigger with high ceilings and loft over looking living/dinning area. All appliances are currently included refrigerator, stove, washer & dryer. Call your agent for showing today!

25. 2010-07-01
    historical
26. 2010-03-15
    listed $59,000
27. 2005-11-07
    soldstatus
28. 2004-02-02
    soldstatus
29. 2002-01-23
    soldstatus
30. 1988-08-29
    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: $4,543 · $379/mo
• Projected year-2 tax: $4,543 · $379/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 1/10 Low
• 🌡 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: $27,400
• − Mortgage interest: −$10,895
• − Property taxes: −$4,543
• − Insurance: −$972
• − Repairs & maintenance: −$2,192
• − Management: −$2,192
• − HOA: −$396
• − Depreciation: −$5,658
• Taxable income: $551
• Est. tax owed @ 24.0%: −$132
• After-tax cash flow: $3,362/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

+238.8% since first listed

16 events — show timeline

• 2026-03-13 Price Changed $199,900 HARMLS
• 2026-02-04 Relisted — HARMLS
• 2025-08-15 Pending — HARMLS
• 2025-08-15 Listing Removed — HARMLS
• 2025-08-15 Price Changed $210,000 HARMLS
• 2025-07-07 Listed $198,500 HARMLS
• 2010-08-06 Sold (Public Records) — Public Records
• 2010-08-04 Sold (MLS) — HARMLS
• 2010-07-11 Listed $63,000 HARMLS
• 2010-07-11 Listing Removed — HARMLS
• 2010-07-01 Listing Removed — HARMLS
• 2010-03-15 Listed $59,000 HARMLS
• 2005-11-07 Sold (Public Records) — Public Records
• 2004-02-02 Sold (Public Records) — Public Records
• 2002-01-23 Sold (Public Records) — Public Records
• 1988-08-29 Sold (Public Records) — Public Records

Property tax history

+8.4%/yr

Latest (2025): $4,543 · +346.6% YoY. Source: county tax records.