The Sparrow II Plan · Magnolia, TX 77354

$294,990

4 bd · 2.5 ba · 2,397 sqft · SingleFamily · 290 Days on market

Good condition

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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).

• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.2/30.0
• Schools +4.7/10.0
• Condition / age +4.0/5.0
• Livability +3.7/5.0
• Rent growth +2.6/5.0
• 1% rule +2.0/10.0
• DSCR +1.4/10.0

Listing remarks MLS

The Sparrow II offers great versatility with an open-concept kitchen, dining, and family room on the first floor. The primary suite at the back of the main level features a stylish en suite bathroom and a spacious walk-in closet. Upstairs, you'll find three bedrooms, a full bathroom, and a large loft area, which can be converted into a fifth bedroom and a third bathroom. Enhance your backyard by adding a covered rear patio for the perfect outdoor space.

Key facts

• Large loft area
• Open-concept kitchen
• Covered rear patio

Tags

• OPEN-CONCEPT KITCHEN
• STYLISH EN SUITE BATHROOM
• SPACIOUS WALK-IN CLOSET
• LARGE LOFT AREA
• COVERED REAR PATIO

🏗️ New construction. The $294,990 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $352,896.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $295k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-490 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $282k (4.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $247k (16.4% below list).
• Recommended offer: $247k (16.4% below list) — sets the bar for 1% rule.
• Cap rate 4.6% vs local median 3.5% in Magnolia — 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 73/100 on livability (#222 in TX) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F.
• Magnolia ISD (rural): math 42% / reading 45% proficiency, ranked #247 of 826 in TX (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Magnolia Parkway El (math 38% / reading 46%, grade F, #1,335 of 4,322 statewide, top 33%, 776 students, 45% FRL); Bear Branch J H (math 44% / reading 46%, grade D, #479 of 1,662 statewide, top 29%, 1,076 students, 37% FRL); Magnolia H S (math 47% / reading 62%, grade C-, #379 of 1,632 statewide, top 26%, 2,248 students, 31% FRL) — zoned schools at 37% FRL track the district average.
• Market conditions: Rents flat; 1924 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 69d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% of comp listings sitting > 30 days — soft ceiling on asking rent; high-income renter base; 13,259 units permitted in Montgomery County in 2024 (1,402 in 5+ unit buildings).

Forward outlook

• In year one you build about $38k of equity ($2k loan paydown + $35k appreciation (10.0% local appreciation)).
• Montgomery County population projected at +65% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• By year 2, paydown + projected appreciation supports a ~$61k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 290 days — a 12% lower offer ($260k) is reasonable based on typical stale-listing flexibility.

Recommended offer $246,642 (16.4% 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 290 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. 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?
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: 0.70% ✗
• Cap rate: 4.63%
• Cash-on-cash: -5.95%
• DSCR: 0.74
• GRM: 11.9

CMA / ARV

• ARV (median comp): $352,896
• List price: $294,990
• Delta: -17.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
40603 Goldeneye Pl	0.28mi	4/3.5	2,440 (+2%)	0mo	$335,000	$137	80
40714 Barley Straw Dr	0.33mi	5/2.5 (+1)	2,252 (-6%)	0mo	$279,990	$124	69
40706 Barley Straw Dr	0.34mi	4/3.0	2,681 (+12%)	0mo	$329,990	$123	62
15319 Mountain Plover Pl	0.73mi	4/3.5	2,397 (0%)	1mo	$359,900	$150	61
40722 Barley Straw Dr	0.33mi	4/3.0	2,681 (+12%)	3mo	$349,990	$131	61
15107 Bank Swallow Pl	0.67mi	5/3.0 (+1)	2,365 (-1%)	2mo	$339,990	$144	58
15447 Park Perch Pl	0.70mi	4/2.5	2,502 (+4%)	3mo	$329,900	$132	58
40734 Barley Straw Dr	0.33mi	4/3.0	2,041 (-15%)	2mo	$314,990	$154	56
40519 Slough Way	0.64mi	4/3.0	2,558 (+7%)	1mo	$401,900	$157	56
15110 Bank Swallow Pl	0.68mi	4/3.0	2,558 (+7%)	2mo	$402,900	$158	54
15307 Mountain Plover Pl	0.71mi	4/2.5	2,064 (-14%)	2mo	$314,900	$153	42
15459 Park Perch Pl	0.73mi	4/2.5	2,061 (-14%)	3mo	$309,990	$150	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 0.32% rent growth · sell at horizon

5-year hold

• IRR: 19.4%
• Equity multiple: 2.56×
• Total profit: $154,528
• Equity at exit: $317,917

10-year hold

• IRR: 17.3%
• Equity multiple: 5.74×
• Total profit: $467,935
• Equity at exit: $685,600

Cash invested: $98,811 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 59 active · 20 under contract
• Months of supply: 11.4 mo (9%/mo absorbed)
• Median asking: $325,000 ($154/sqft)
• Median days on market: 88 d
• This list price: 20% of active listings are priced below it
• ARV vs active asking: -4.5% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 77354

• Home prices YoY: 2.4%
• Rents YoY: 0.3%
• Active inventory: 1924
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,466 high
• Mortgage (P&I): −$1,851
• Tax est. 1.5%: −$441 /mo · $5,293/yr
• Insurance: −$147
• HOA: −$0
• Vacancy / Maint / Mgmt: −$518
• Net cashflow: $-490

Break-even live

Break-even rent $3,087

Max offer price $281,948

Occupancy floor —

Sensitivity live

Price	-10% $-246	-5% $-368	+0% $-490	+5% $-612	+10% $-734
Rent	-10% $-685	-5% $-588	+0% $-490	+5% $-393	+10% $-295
Rate	-1.0pp $-313	-0.5pp $-401	base $-490	+0.5pp $-582	+1.0pp $-675

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: $88,224
• Closing costs: $10,587
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40547 Berylline Ln Magnolia, TX	4.0	2.0	1753	$2,300	$1.31	93d	1	0.16mi
14727 Band Tailed Pigeon Ct Magnolia, TX	4.0	3.0	1942	$2,700	$1.39	93d	1	0.32mi
14541 Montclair Way Montgomery, TX	4.0	3.0	2170	$2,200	$1.01	48d	1	0.66mi
14983 Clay Harvest Rdg Magnolia, TX	4.0	3.0	2173	$2,375	$1.09	93d	1	0.83mi
40427 Basalt Elm Ln Magnolia, TX	3.0	2.0	1575	$1,975	$1.25	21d	1	0.89mi
15128 Lavender Mist Ct Magnolia, TX	4.0	3.0	2561	$2,800	$1.09	69d	1	1.02mi
40718 Barley Straw Dr Magnolia, TX	4.0	2.0	1700	$2,200	$1.29	3d	1	1.06mi
475 Audubons Shearwater Way Magnolia, TX	4.0	3.0	2049	$2,700	$1.32	12d	1	1.32mi

Listing history 50 events

1. 2026-08-08
   days on market $294,990 Active 290 DOM
2. 2026-08-06
   days on market $294,990 Active 288 DOM
3. 2026-08-05
   pricedays on market $294,990 Active 287 DOM
4. 2026-08-04
   days on market $289,990 Active 286 DOM
5. 2026-08-03
   days on market $289,990 Active 285 DOM
6. 2026-07-31
   days on market $289,990 Active 282 DOM
7. 2026-07-30
   days on market $289,990 Active 280 DOM
8. 2026-07-28
   days on market $289,990 Active 279 DOM
9. 2026-07-24
   days on market $289,990 Active 275 DOM
10. 2026-07-23
    days on market $289,990 Active 274 DOM
11. 2026-07-22
    days on market $289,990 Active 273 DOM
12. 2026-07-21
    days on market $289,990 Active 272 DOM
13. 2026-07-20
    days on market $289,990 Active 271 DOM
14. 2026-07-18
    days on market $289,990 Active 268 DOM
15. 2026-07-16
    days on market $289,990 Active 267 DOM
16. 2026-07-15
    days on market $289,990 Active 266 DOM
17. 2026-07-14
    days on market $289,990 Active 265 DOM
18. 2026-07-13
    days on market $289,990 Active 264 DOM
19. 2026-07-11
    days on market $289,990 Active 262 DOM
20. 2026-07-10
    days on market $289,990 Active 261 DOM
21. 2026-07-09
    days on market $289,990 Active 260 DOM
22. 2026-07-07
    days on market $289,990 Active 258 DOM
23. 2026-07-06
    days on market $289,990 Active 257 DOM
24. 2026-07-06
    days on market $289,990 Active 256 DOM
25. 2026-07-05
    days on market $289,990 Active 255 DOM
26. 2026-07-03
    days on market $289,990 Active 254 DOM
27. 2026-07-02
    days on market $289,990 Active 253 DOM
28. 2026-07-01
    days on market $289,990 Active 252 DOM
29. 2026-06-30
    days on market $289,990 Active 251 DOM
30. 2026-06-29
    days on market $289,990 Active 250 DOM
31. 2026-06-28
    days on market $289,990 Active 249 DOM
32. 2026-06-27
    days on market $289,990 Active 248 DOM
33. 2026-06-26
    days on market $289,990 Active 247 DOM
34. 2026-06-24
    days on market $289,990 Active 245 DOM
35. 2026-06-22
    days on market $289,990 Active 243 DOM
36. 2026-06-21
    days on market $289,990 Active 242 DOM
37. 2026-06-18
    days on market $289,990 Active 239 DOM
38. 2026-06-17
    days on market $289,990 Active 238 DOM
39. 2026-06-16
    days on market $289,990 Active 237 DOM
40. 2026-06-15
    days on market $289,990 Active 236 DOM
41. 2026-06-13
    days on market $289,990 Active 234 DOM
42. 2026-06-09
    days on market $289,990 Active 230 DOM
43. 2026-06-08
    days on market $289,990 Active 229 DOM
44. 2026-06-07
    days on market $289,990 Active 228 DOM
45. 2026-06-04
    days on market $289,990 Active 225 DOM
46. 2026-06-03
    days on market $289,990 Active 224 DOM
47. 2026-06-02
    days on market $289,990 Active 223 DOM
48. 2026-06-01
    days on market $289,990 Active 222 DOM
49. 2026-05-31
    days on market $289,990 Active 221 DOM
50. 2026-05-14
    price $289,990 457-char remark

    Show marketing remark (457 chars)

    The Sparrow II offers great versatility with an open-concept kitchen, dining, and family room on the first floor. The primary suite at the back of the main level features a stylish en suite bathroom and a spacious walk-in closet. Upstairs, you'll find three bedrooms, a full bathroom, and a large loft area, which can be converted into a fifth bedroom and a third bathroom. Enhance your backyard by adding a covered rear patio for the perfect outdoor space.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $29,597
• − Mortgage interest: −$19,768
• − Property taxes: −$5,293
• − Insurance: −$1,764
• − Repairs & maintenance: −$2,368
• − Management: −$2,368
• − Depreciation: −$10,266
• Taxable loss: −$12,230
• Est. tax savings @ 24.0%: +$2,935
• After-tax cash flow: $-2,948/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $11,985–$35,955 screening

This home is in good condition with a modern kitchen and bathrooms, and a well-maintained exterior. It is ready for a new owner or tenant with minor maintenance items to address.

Value-add opportunities

• Resale Paint exterior trim — Fresh paint can enhance curb appeal and home value. ↑
• Rental Clean gutters — Clean gutters improve drainage and prevent water damage, which is important for renters. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 47/100

Zoned Schools

Elementary Magnolia Parkway El F TX #1,335/4,322 Nat'l #17,861/41,679 Middle Bear Branch J H D TX #479/1,662 Nat'l #4,622/14,009 High Magnolia H S C- TX #379/1,632 Nat'l #4,461/17,239

Schools (NCES district)

• District: Magnolia ISD
• NCES district ID: 4828740
• Math proficiency: 42% ▼ -7.00%
• Reading proficiency: 45% ▼ -4.00%
• Median HH income: $71,692
• Composite: 39.46/100
• National rank: #3958
• State rank: #247 of 826 in TX

B Composite livability gradescore 73/100

Livability — Magnolia

• Score: 73/100
• State rank: #222
• US rank: #5442

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment B- Housing A+ Health & safety B- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Montgomery County · 713,896 people
• City population: 32,847
• Metro: Houston-The Woodlands-Sugar Land, TX
• Population (ZIP): 44,900
• Household income: $112,504
• Rent vs Own: 20.1% rent · 79.9% own
• Severe rent burden: 7% of renters

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Population outlook (Montgomery County) Hauer SSP2

• Today (2025): 713,896 people
• By 2030: 805,263 · +12.8%
• By 2040: 992,708 · +39.1%
• By 2050: 1,179,590 · +65.2%
• By 2075: 1,628,084 · +128.1%
• By 2100: 1,937,880 · +171.5%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (66%)
• Race & ethnicity: White 66% Hispanic / Latino 25% Two or more races 18% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 14% Puerto Rican 1%
• Common ancestry: Lithuanian 4% Slovak 2% Italian 2%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 83% English-only · Spanish 15% Other Indo-European 1% German/W. Germanic 1%

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Political lean MEDSL · Montgomery

• 2024 margin: Solid R (+45.5) · D 26.8% · R 72.3%
• 2008→2024 swing: +7.2pp toward D · 2008: -52.7pp · 2024: -45.5pp
• All cycles: 2024: R+45.5 2020: R+43.8 2016: R+51.4 2012: R+60.7 2008: R+52.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.09%
• Current HPI: 512.87
• Rent YoY: ▲ 0.32%
• Metro: Houston-The Woodlands-Sugar Land, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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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

+1.0% since first listed

7 events — show timeline

• 2026-05-14 Price Changed $289,990 Zillow
• 2026-05-04 Price Changed $304,990 Zillow
• 2026-02-03 Price Changed $301,990 Zillow
• 2026-01-16 Price Changed $296,990 Zillow
• 2025-12-01 Price Changed $293,990 Zillow
• 2025-11-04 Price Changed $288,990 Zillow
• 2025-10-23 Listed $286,990 Zillow