5031 Glendower Dr · Spring, TX 77373

$214,900

3 bd · 2.0 ba · 1,641 sqft · SingleFamily public records · 37 Days on market

Built 1977 7,418 sqft lot $131/sqft · at area comps Est $223k · 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 +15.4/30.0
• ARV discount +9.1/15.0
• 1% rule +5.9/10.0
• DSCR +4.7/10.0
• 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

Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

Key facts

• Long term tenant
• Newer roof
• Fenced backyard

Tags

• TURNKEY INVESTMENT OPPORTUNITY
• LONG TERM TENANT
• NEW HVAC SYSTEM
• NEWER ROOF
• FENCED BACKYARD
• CONVENIENTLY LOCATED NEAR I-45

Property features AI

Finance

• Other: Owner is listing agent
• HOA & community: Association (ACMI) with annual fee of $370; Association amenities include tennis court(s)

Exterior

• Parking: Attached 2-car garage; Additional parking available
• Utilities: Public water; Public sewer
• Home design: Residential property; Full ownership; Slab foundation; Composition roof; Built in 1977
• Construction: Brick and wood siding construction
• Exterior features: Fully fenced private yard; Back yard fencing; Corner lot; Asphalt road access

Interior

• Kitchen: Dishwasher; Electric cooktop; Electric oven; Microwave; Disposal; Trash compactor
• Bedrooms: Up to 3 bedrooms
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central heating (gas); Central electric air conditioning
• Interior features: High ceilings; Free-standing fireplace (1)
• Laundry & utility: Gas dryer hookup

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 $17 ($209/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: $208k (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); 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 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 37 days — a 3% lower offer ($208k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y 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 $55k; list at $215k implies a 291% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.9% of price; flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk; 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 $208,453 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 6.76%
• Cash-on-cash: 1.67%
• DSCR: 1.07
• GRM: 7.6

CMA / ARV

• ARV (median comp): $222,802
• List price: $214,900
• Delta: -3.55%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23114 Goodfellow Dr	0.04mi	3/2.0	1,541 (-6%)	7mo	$210,000	$136	82
5030 Monteith Dr	0.08mi	3/2.0	1,653 (+1%)	22mo	$180,000	$109	77
23142 Calico Corners Ln	0.14mi	3/2.0	1,599 (-3%)	19mo	$179,000	$112	74
23202 Goodfellow Dr	0.05mi	4/2.5 (+1)	1,798 (+10%)	14mo	$250,000	$139	63
4822 S Fairfax Village Cir	0.42mi	4/2.5 (+1)	1,809 (+10%)	2mo	$220,000	$122	54
23110 Ludgate Dr	0.54mi	3/2.0	1,474 (-10%)	13mo	$220,000	$149	47

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: -19.9%
• Equity multiple: 0.33×
• Total profit: $-40,349
• Equity at exit: $32,042

10-year hold

• IRR: -23.8%
• Equity multiple: 0.01×
• Total profit: $-59,299
• Equity at exit: $18,581

Cash invested: $60,172 (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: 7.6×

Monthly cashflow live

• Estimated rent: $2,350 medium
• Mortgage (P&I): −$1,127
• Tax from tax record: −$525 /mo · $6,305/yr
• Insurance: −$90
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$31
• Vacancy / Maint / Mgmt: −$494
• Net cashflow: $17

Break-even live

Break-even rent $2,328

Max offer price $214,900

Occupancy floor 94%

Sensitivity live

Price	-10% $139	-5% $78	+0% $17	+5% $-43	+10% $-104
Rent	-10% $-168	-5% $-75	+0% $17	+5% $110	+10% $203
Rate	-1.0pp $126	-0.5pp $72	base $17	+0.5pp $-38	+1.0pp $-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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $31 · $372/yr
• Likely covers: pool

Listing history 41 events

1. 2026-06-18
   days on market $214,900 Active 37 DOM
2. 2026-06-17
   days on market $214,900 Active 36 DOM
3. 2026-06-16
   days on market $214,900 Active 35 DOM
4. 2026-06-15
   days on market $214,900 Active 34 DOM
5. 2026-06-13
   days on market $214,900 Active 32 DOM
6. 2026-06-13
   days on market $214,900 Active 31 DOM
7. 2026-06-09
   days on market $214,900 Active 28 DOM
8. 2026-06-08
   days on market $214,900 Active 27 DOM
9. 2026-06-07
   days on market $214,900 Active 26 DOM
10. 2026-06-04
    days on market $214,900 Active 23 DOM
11. 2026-06-03
    days on market $214,900 Active 22 DOM
12. 2026-06-02
    days on market $214,900 Active 21 DOM
13. 2026-06-01
    days on market $214,900 Active 20 DOM
14. 2026-05-31
    days on market $214,900 Active 19 DOM
15. 2026-05-12
    listed $214,900 Active 987-char remark
16. 2026-04-25
    historical
17. 2026-03-13
    listed $216,520 Active
18. 2020-11-20
    soldstatus
19. 2020-09-16
    soldstatus
20. 2020-09-15
    soldstatus Sold

    Show marketing remark (176 chars)

    Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

21. 2020-08-25
    status Pending

    Show marketing remark (176 chars)

    Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

22. 2020-08-21
    price $136,999

    Show marketing remark (176 chars)

    Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

23. 2020-08-19
    status Active

    Show marketing remark (176 chars)

    Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

24. 2020-08-14
    status Option Pending

    Show marketing remark (176 chars)

    Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

25. 2020-08-12
    price $141,999

    Show marketing remark (176 chars)

    Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

26. 2020-07-27
    price $149,999

    Show marketing remark (176 chars)

    Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

27. 2020-07-27
    status Active

    Show marketing remark (176 chars)

    Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

28. 2020-07-20
    status Option Pending

    Show marketing remark (176 chars)

    Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

29. 2020-07-17
    price $147,999

    Show marketing remark (176 chars)

    Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

30. 2020-07-03
    price $149,999

    Show marketing remark (176 chars)

    Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

31. 2020-06-23
    price $159,000

    Show marketing remark (176 chars)

    Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

32. 2020-05-21
    listed $162,000 Active

    Show marketing remark (176 chars)

    Nice 3 bedroom 2 full bath home in well established area. Community pool, great sized backyard with covered patio area. Open floorplan, tiled family room with a cozy fireplace.

33. 2011-10-14
    soldstatus
34. 2011-08-10
    soldstatus
35. 2011-06-30
    historical
36. 2011-04-25
    listed $49,000
37. 2005-09-02
    historical
38. 2005-04-01
    listed $62,000
39. 2001-01-10
    soldstatus
40. 1998-07-02
    soldstatus
41. 1998-06-01
    soldstatus $54,900

ⓘ 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: $6,305 · $525/mo
• Projected year-2 tax: $6,305 · $525/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 7/10 Severe FEMA zone X (unshaded) · 99% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 9/10 Extreme 7 d/yr ≥110°F today · 24 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: $28,204
• − Mortgage interest: −$12,038
• − Property taxes: −$6,305
• − Insurance: −$1,872
• − Repairs & maintenance: −$2,256
• − Management: −$2,256
• − HOA: −$372
• − Depreciation: −$6,252
• Taxable loss: −$3,147
• Est. tax savings @ 24.0%: +$755
• After-tax cash flow: $964/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

+291.4% since first listed

27 events — show timeline

• 2026-05-12 Listed $214,900 HARMLS
• 2026-04-25 Listing Removed — HARMLS
• 2026-03-13 Listed $216,520 HARMLS
• 2020-11-20 Sold (Public Records) — Public Records
• 2020-09-16 Sold (Public Records) — Public Records
• 2020-09-15 Sold (MLS) — HARMLS
• 2020-08-25 Pending — HARMLS
• 2020-08-21 Price Changed $136,999 HARMLS
• 2020-08-19 Relisted — HARMLS
• 2020-08-14 Pending — HARMLS
• 2020-08-12 Price Changed $141,999 HARMLS
• 2020-07-27 Price Changed $149,999 HARMLS
• 2020-07-27 Relisted — HARMLS
• 2020-07-20 Pending — HARMLS
• 2020-07-17 Price Changed $147,999 HARMLS
• 2020-07-03 Price Changed $149,999 HARMLS
• 2020-06-23 Price Changed $159,000 HARMLS
• 2020-05-21 Listed $162,000 HARMLS
• 2011-10-14 Sold (Public Records) — Public Records
• 2011-08-10 Sold (MLS) — HARMLS
• 2011-06-30 Listing Removed — HARMLS
• 2011-04-25 Listed $49,000 HARMLS
• 2005-09-02 Listing Removed — HARMLS
• 2005-04-01 Listed $62,000 HARMLS
• 2001-01-10 Sold (Public Records) — Public Records
• 1998-07-02 Sold (Public Records) — Public Records
• 1998-06-01 Sold (Public Records) $54,900 Public Records

Property tax history

+6.1%/yr

Latest (2025): $6,305 · -9.2% YoY. Source: county tax records.