24111 Norchester WaySpringTX77389
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 24111 Norchester Way, Spring, TX, 77389 in Spring at $439,900 earns $3,288/mo in rent and nets $128/mo after the $1,978/mo payment, a 8.97% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $121,536 over five years. Ziffy Mortgage underwrites this on a 1.66 DSCR without U.S. credit history. With $4,052/yr in principal paydown, total projected return reaches $176,924.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9% | 6.1% |
| Monthly Cash Flow | $128 | $1,850 |
City averages based on Spring market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $3,288 |
| Total Monthly Debt Service | $2,985 |
| DSCR Ratio | 1.10x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1973
0.31 Acres lot
$N/A/sqft
$385 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 77389, Spring, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,120 (100%) |
| Owner Occupied HU | 11,222 (65.5%) |
| Renter Occupied HU | 4,904 (28.6%) |
| Vacant Housing Units | 994 ( 5.8%) |
| Median Home Value | $435,407 |
| Average Home Value | $525,589 |
Housing Distribution
Address Breakdown
Residential
16,873
Single Family
13,822
Multi-Family
3,051
Businesses
535
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Single Family
Built in 1973
0.31 Acres lot
$N/A/sqft
$385 annually HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 77389, Spring, TX area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,120 (100%) |
| Owner Occupied HU | 11,222 (65.5%) |
| Renter Occupied HU | 4,904 (28.6%) |
| Vacant Housing Units | 994 ( 5.8%) |
| Median Home Value | $435,407 |
| Average Home Value | $525,589 |
Housing Distribution
Address Breakdown
Residential
16,873
Single Family
13,822
Multi-Family
3,051
Businesses
535
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Sergio Garcia • Walzel Properties - Spring
Mls Name: HAR
Mls Provider:
Mls ID: #68441209
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