4927 Glendower Dr · Spring, TX 77373

$189,000

3 bd · 2.5 ba · 1,651 sqft · SingleFamily public records · 48 Days on market

Built 1977 6,159 sqft lot $114/sqft · 14% below area Est $219k · 14% under $31/mo HOA · 1% of rent

---

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 +21.9/30.0
• ARV discount +13.6/15.0
• 1% rule +7.1/10.0
• DSCR +7.0/10.0
• 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

This well-maintained two-story home has it all! Featuring 3 bedrooms and 2.5 bathrooms, this property sits on an oversized lot and offers updates throughout. Enjoy fresh interior paint throughout, brand-new carpet upstairs, new blinds, and new ceiling fans, giving the home a clean, modern feel. The layout includes a formal dining area, an updated kitchen with granite countertops, appliances, and a cozy breakfast nook. The spacious living room features a charming wood-burning fireplace, perfect for relaxing or entertaining. Upstairs, you’ll find nicely sized bedrooms with ample space and comfort. Step outside to a large fenced backyard, ideal for gatherings, pets, or simply enjoying th

Key facts

• New carpet
• New ceiling fans
• Formal dining area

Tags

• OVERSIZED LOT
• FRESH INTERIOR PAINT
• NEW CARPET
• NEW BLINDS
• NEW CEILING FANS
• FORMAL DINING AREA

Property features AI

Finance

• HOA & community: Association: ACMI; Annual association fee; Association amenities include clubhouse, playground, park, pool, tennis courts, and trails; Community pool

Exterior

• Parking: Attached 2-car garage; Attached garage parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Residential property; Slab foundation; Living area approximately 1,651; Built in 1977; Shingle and wood roof
• Construction: Brick and wood siding construction
• Exterior features: Fenced backyard; Subdivision lot; Association pool

Interior

• Kitchen: Dishwasher; Electric oven; Electric range; Disposal; Refrigerator; Kitchen (First level, approx. 8x8); Breakfast nook (First level, approx. 11x11); Dining room (First level, approx. 14x11)
• Bedrooms: Primary bedroom (Second level, approx. 17x12); Bedroom (Second level, approx. 12x10); Bedroom (Second level, approx. 11x10)
• Flooring: Carpet; Tile
• Bathrooms: 2 full bathrooms; 1 half bathroom; Primary bathroom (Second level)
• Heating & cooling: Central heating (Gas); Central electric air conditioning; Thermostat (programmable)
• Interior features: Breakfast bar; Granite counters; Primary bedroom with private bath; Tub with shower; Window treatments / coverings; Ceiling fans; Programmable thermostat; Wood-burning fireplace (1)
• Laundry & utility: Washer hookup; Electric dryer hookup; Utility room (Other level)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $189k).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% 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 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

• It's been on market 48 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 17y 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 $71k; list at $189k implies a 166% gain — meaningful room to come down on a strong offer.

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→24/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 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 does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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.
8. 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.
9. 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: 1.21% ✓
• Cap rate: 8.19%
• Cash-on-cash: 6.77%
• DSCR: 1.30
• GRM: 6.9

CMA / ARV

• ARV (median comp): $218,794
• List price: $189,000
• Delta: -13.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23114 Goodfellow Dr	0.13mi	3/2.0	1,541 (-7%)	7mo	$210,000	$136	75
5030 Monteith Dr	0.13mi	3/2.0	1,653 (+0%)	22mo	$180,000	$109	74
23142 Calico Corners Ln	0.24mi	3/2.0	1,599 (-3%)	19mo	$179,000	$112	66
23202 Goodfellow Dr	0.14mi	4/2.5 (+1)	1,798 (+9%)	14mo	$250,000	$139	62
4822 S Fairfax Village Cir	0.36mi	4/2.5 (+1)	1,809 (+10%)	2mo	$220,000	$122	60
23110 Ludgate Dr	0.43mi	3/2.0	1,474 (-11%)	13mo	$220,000	$149	49
23207 Naples Dr	0.74mi	4/2.0 (+1)	1,558 (-6%)	16mo	$165,000	$106	36

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: -9.7%
• Equity multiple: 0.66×
• Total profit: $-18,140
• Equity at exit: $28,181

10-year hold

• IRR: -5.7%
• Equity multiple: 0.69×
• Total profit: $-16,516
• Equity at exit: $16,341

Cash invested: $52,920 (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: 6.9×

Monthly cashflow live

• Estimated rent: $2,282 medium
• Mortgage (P&I): −$991
• Tax from tax record: −$403 /mo · $4,835/yr
• Insurance: −$79
• HOA: −$31
• Vacancy / Maint / Mgmt: −$479
• Net cashflow: $299

Break-even live

Break-even rent $1,904

Max offer price $189,000

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $31 · $372/yr

Listing history 30 events

1. 2026-06-18
   days on market $189,000 Pending 48 DOM
2. 2026-06-17
   statusdays on market $189,000 Pending 47 DOM
3. 2026-06-16
   days on market $189,000 Active 46 DOM
4. 2026-06-15
   days on market $189,000 Active 45 DOM
5. 2026-06-13
   days on market $189,000 Active 43 DOM
6. 2026-06-13
   days on market $189,000 Active 42 DOM
7. 2026-06-09
   days on market $189,000 Active 39 DOM
8. 2026-06-08
   days on market $189,000 Active 38 DOM
9. 2026-06-07
   days on market $189,000 Active 37 DOM
10. 2026-06-04
    days on market $189,000 Active 34 DOM
11. 2026-06-03
    days on market $189,000 Active 33 DOM
12. 2026-06-02
    statusdays on market $189,000 Active 32 DOM
13. 2026-06-01
    days on market $189,000 Pending 31 DOM
14. 2026-05-31
    days on market $189,000 Pending 30 DOM
15. 2026-05-01
    listed $189,000 Active 991-char remark
16. 2026-04-27
    historical
17. 2026-04-09
    price $195,000
18. 2026-03-07
    listed $199,000 Active
19. 2019-12-19
    soldstatus
20. 2011-02-16
    soldstatus
21. 2011-01-27
    historical
22. 2011-01-12
    listed $74,900
23. 2010-11-30
    soldstatus
24. 2010-10-26
    historical
25. 2010-10-15
    listed $39,900
26. 2009-11-06
    historical
27. 2009-04-29
    listed $84,900
28. 2008-03-17
    soldstatus
29. 1998-04-28
    soldstatus
30. 1998-04-01
    soldstatus $71,000

ⓘ 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: $4,835 · $403/mo
• Projected year-2 tax: $4,835 · $403/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 4/10 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: $27,378
• − Mortgage interest: −$10,587
• − Property taxes: −$4,835
• − Insurance: −$945
• − Repairs & maintenance: −$2,190
• − Management: −$2,190
• − HOA: −$372
• − Depreciation: −$5,498
• Taxable income: $760
• Est. tax owed @ 24.0%: −$182
• After-tax cash flow: $3,400/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

+166.2% since first listed

19 events — show timeline

• 2026-06-16 Pending — HARMLS
• 2026-06-02 Relisted — HARMLS
• 2026-05-29 Pending — HARMLS
• 2026-05-01 Listed $189,000 HARMLS
• 2026-04-27 Listing Removed — HARMLS
• 2026-04-09 Price Changed $195,000 HARMLS
• 2026-03-07 Listed $199,000 HARMLS
• 2019-12-19 Sold (Public Records) — Public Records
• 2011-02-16 Sold (Public Records) — Public Records
• 2011-01-27 Listing Removed — HARMLS
• 2011-01-12 Listed $74,900 HARMLS
• 2010-11-30 Sold (MLS) — HARMLS
• 2010-10-26 Listing Removed — HARMLS
• 2010-10-15 Listed $39,900 HARMLS
• 2009-11-06 Listing Removed — HARMLS
• 2009-04-29 Listed $84,900 HARMLS
• 2008-03-17 Sold (Public Records) — Public Records
• 1998-04-28 Sold (Public Records) — Public Records
• 1998-04-01 Sold (Public Records) $71,000 Public Records

Property tax history

+5.6%/yr

Latest (2025): $4,835 · -12.5% YoY. Source: county tax records.