32606 Glenda Dr · Magnolia, TX 77354

$579,000

5 bd · 2.0 ba · 2,519 sqft · SingleFamily public records · 42 Days on market

Built 1973 0.69 ac lot $230/sqft · 6% below area Est $826k · 30% under

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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).

• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• Schools +3.9/10.0
• Livability +3.7/5.0
• Cash flow +3.4/30.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• 1% rule +0.0/10.0
• DSCR +0.0/10.0

Listing remarks

Tucked beneath mature trees on a 2/3 acre lot, this fully reimagined modern farmhouse blends luxury with serenity. Spanning 3,386 SF, this 5 bed, 4 bath home features two, true primary suites on both the 1st & 2nd floors, custom finishes throughout, and brand-new plumbing w/ tankless water heater and electrical for peace of mind. The heart of the home opens to warm wood, LVP floors, vaulted ceilings, two slate fireplaces with rustic mantles, and thoughtfully designed spaces that feel both elevated and inviting. Designer kitchens and baths shine, with 3 of the 4 baths offering double sinks. Upstairs, a fun game room overlooks the living area below, creating an open, connected feel with

Key facts

• 0.69 acre lot
• 2 garage spots
• Pool

Property features AI

Finance

• Other: Building area approximately 3,386 total square feet

Exterior

• Parking: Attached oversized garage with 2 spaces; Driveway parking
• Security: Smoke detectors
• Utilities: Well water; Septic sewer
• Home design: Residential property; Facing west; Full ownership; Built in 1973; Slab foundation
• Construction: Cement siding; Composition roof; Slab foundation; Year built: 1973
• Exterior features: Private in-ground pool; Partial fencing; Fence and private yard; Backs to greenbelt/park; Cleared lot with side yard; Additional parcel(s)

Interior

• Kitchen: Dishwasher; Electric oven and electric range; Microwave; Garbage disposal; Energy Star qualified appliances; Pot filler
• Bedrooms: Up to 5 bedrooms; Primary bedrooms on first and second levels; Additional bedrooms on first and second levels
• Bathrooms: 4 full bathrooms; Primary bathrooms with separate shower and soaking tub; Double vanities in primary baths
• Heating & cooling: Central heating (electric); Central air conditioning (electric)
• Interior features: Breakfast bar; Balcony; Double vanities; High ceilings; Kitchen/family room combo; Pot filler; Self-closing cabinet doors and drawers; Soaking tub; Separate shower; Tub/shower combination; Vaulted ceilings; Ceiling fans; Loft; Programmable thermostat; Wood-burning fireplaces (2 total)
• Laundry & utility: Washer hookup; Electric dryer hookup; Tankless water heater; Utility room on first floor

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $579k.

Deal economics

• At list price, monthly cash flow is $-2k ($-21k/yr) — negative.
• To cash-flow at today's rent, offer at most $268k (53.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $239k (58.7% below list).
• Recommended offer: $239k (58.7% below list) — sets the bar for 1% rule.
• Cap rate 2.6% vs local median 3.4% in Magnolia — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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); Magnolia H S (math 47% / reading 62%, grade C-, #379 of 1,632 statewide, top 26%, 2,248 students, 31% FRL) — zoned schools at 38% FRL track the district average.
• Market conditions: Rents flat; 1604 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $62k of equity ($4k loan paydown + $58k 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 ~$100k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($562k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 11y 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 $238,916 (58.7% 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 42 days. Have you received any prior offers? Is the seller open to a 59% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.41% ✗
• Cap rate: 2.64%
• Cash-on-cash: -13.05%
• DSCR: 0.42
• GRM: 20.2

CMA / ARV

• ARV (median comp): $826,144
• List price: $579,000
• Delta: -29.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
32363 Spinnaker Run	0.63mi	4/3.0 (-1)	2,863 (+14%)	11mo	$725,000	$253	30

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: 14.7%
• Equity multiple: 2.21×
• Total profit: $196,607
• Equity at exit: $521,609

10-year hold

• IRR: 14.2%
• Equity multiple: 5.04×
• Total profit: $655,524
• Equity at exit: $1,124,870

Cash invested: $162,120 (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 77354

• Home prices YoY: 2.4%
• Rents YoY: 0.3%
• Active inventory: 1604
• Price-to-rent: 20.2×

Monthly cashflow live

• Estimated rent: $2,389 medium
• Mortgage (P&I): −$3,036
• Tax from tax record: −$373 /mo · $4,472/yr
• Insurance: −$241
• HOA: −$0
• Vacancy / Maint / Mgmt: −$502
• Net cashflow: $-1,763

Break-even live

Break-even rent $4,621

Max offer price $267,584

Occupancy floor —

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: $144,750
• Closing costs: $17,370
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12035 Noble Wood Village DR Magnolia, TX	4.0	2.5	1979	$2,150	$1.09	43d	1	1.29mi

Listing history 40 events

1. 2026-06-18
   days on market $579,000 Active 42 DOM
2. 2026-06-17
   days on market $579,000 Active 41 DOM
3. 2026-06-16
   days on market $579,000 Active 40 DOM
4. 2026-06-15
   days on market $579,000 Active 39 DOM
5. 2026-06-13
   days on market $579,000 Active 37 DOM
6. 2026-06-09
   days on market $579,000 Active 33 DOM
7. 2026-06-08
   days on market $579,000 Active 32 DOM
8. 2026-06-07
   days on market $579,000 Active 31 DOM
9. 2026-06-04
   days on market $579,000 Active 28 DOM
10. 2026-06-03
    days on market $579,000 Active 27 DOM
11. 2026-06-02
    days on market $579,000 Active 26 DOM
12. 2026-06-01
    days on market $579,000 Active 25 DOM
13. 2026-05-31
    days on market $579,000 Active 24 DOM
14. 2026-05-08
    listed $579,000 Active 972-char remark
15. 2026-04-26
    historical $579,000 972-char remark
16. 2022-08-04
    historical
17. 2022-07-16
    price $3,170
18. 2022-06-29
    status Active
19. 2022-06-22
    historical
20. 2022-06-21
    listed $349,900 Active
21. 2022-01-15
    status Pending
22. 2022-01-06
    status Option Pending
23. 2022-01-05
    historical
24. 2021-12-27
    status Active
25. 2021-10-27
    status Pending
26. 2021-10-22
    price $200,000
27. 2021-10-22
    status Active
28. 2021-10-15
    status Option Pending
29. 2021-09-20
    price $230,000
30. 2021-09-03
    listed $250,000 Active
31. 2015-07-17
    soldstatus Sold
32. 2015-07-17
    status Pending
33. 2015-06-26
    status Pending, Continue to Show
34. 2015-06-16
    status Option Pending
35. 2015-06-08
    listed $168,000 Active
36. 2015-06-04
    status Pending, Continue to Show
37. 2015-04-22
    status Pending
38. 2015-04-11
    status Option Pending
39. 2015-04-11
    historical
40. 2015-04-01
    listed $168,000 Active

ⓘ 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: $4,472 · $373/mo
• Projected year-2 tax: $10,596 · $883/mo
• Expected delta: +$6,123/yr (+$510/mo · 136.9%)

ⓘ 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 8/10 Severe 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,670
• − Mortgage interest: −$32,433
• − Property taxes: −$4,472
• − Insurance: −$2,895
• − Repairs & maintenance: −$2,294
• − Management: −$2,294
• − Depreciation: −$16,844
• Taxable loss: −$32,561
• Est. tax savings @ 24.0%: +$7,815
• After-tax cash flow: $-13,340/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: 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

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 · 663,713 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: 586.0

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%

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%

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

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

+244.6% since first listed

27 events — show timeline

• 2026-05-08 Listed $579,000 HARMLS
• 2026-04-26 Coming Soon $579,000 HARMLS
• 2022-08-04 Listing Removed — HARMLS
• 2022-07-16 Price Changed $3,170 RENT.
• 2022-06-29 Relisted — HARMLS
• 2022-06-22 Listing Removed — HARMLS
• 2022-06-21 Listed $349,900 HARMLS
• 2022-01-15 Pending — HARMLS
• 2022-01-06 Pending — HARMLS
• 2022-01-05 Listing Removed — HARMLS
• 2021-12-27 Relisted — HARMLS
• 2021-10-27 Pending — HARMLS
• 2021-10-22 Price Changed $200,000 HARMLS
• 2021-10-22 Relisted — HARMLS
• 2021-10-15 Pending — HARMLS
• 2021-09-20 Price Changed $230,000 HARMLS
• 2021-09-03 Listed $250,000 HARMLS
• 2015-07-17 Sold (MLS) — HARMLS
• 2015-07-17 Pending — HARMLS
• 2015-06-26 Pending — HARMLS
• 2015-06-16 Pending — HARMLS
• 2015-06-08 Listed $168,000 HARMLS
• 2015-06-04 Pending — HARMLS
• 2015-04-22 Pending — HARMLS
• 2015-04-11 Pending — HARMLS
• 2015-04-11 Listing Removed — HARMLS
• 2015-04-01 Listed $168,000 HARMLS

Property tax history

+9.4%/yr

Latest (2025): $4,472 · -5.4% YoY. Source: county tax records.