Attention investors and developers! This rare opportunity features more than ½ acre of land on a highly desirable corner lot, offering excellent potential for future development while generating immediate rental income.
The property includes two existing rental homes (ALREADY LEASED), providing cash flow from day one. With its generous lot size, corner location, and development possibilities (subject to local zoning and approvals), this property is ideal for investors looking to expand their portfolio or explore new construction opportunities.
Whether you're seeking a buy-and-hold investment, redevelopment project, or a combination of both, this versatile property offers exceptional upside. Large parcels with existing income and building potential are increasingly difficult to find—don't miss this unique opportunity.
For sale
Price cut: $16K (8/13)
$373,999
32607 Octavia Dr, Magnolia, TX 77354
3beds
1,440sqft
Single Family Residence
Built in 1985
0.6 Acres Lot
$-- Zestimate®
$260/sqft
$-- HOA
What's special
Generous lot sizeCorner locationHighly desirable corner lot
- 48 days
- 161
- 5
Zillow last checked:
Listing updated:
Listed by:
Aurelio Rodriguez TREC #0820811 713-330-9953,
Spring Branch Realty Inc.
Source: HAR,MLS#: 39329802
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 2
Primary bedroom
- Level: First
- Area: 100
- Dimensions: 10x10
Bedroom
- Level: First
- Area: 64
- Dimensions: 8x8
Bedroom
- Level: First
- Area: 64
- Dimensions: 8x8
Heating
- Natural Gas
Cooling
- Electric
Interior area
- Total structure area: 1,440
- Total interior livable area: 1,440 sqft
Property
Parking
- Parking features: No Garage
Features
- Stories: 1
Lot
- Size: 0.6 Acres
- Features: Other, 1/2 Up to 1 Acre
Details
- Parcel number: 155783
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Other
- Property subtype: Single Family Residence
Materials
- Other, Wood Siding
- Foundation: Pillar/Post/Pier
- Roof: Composition
Condition
- New construction: No
- Year built: 1985
Utilities & green energy
- Sewer: Septic Tank
- Water: Public
Community & HOA
Community
- Subdivision: Royal Oaks On 1488 02
Location
- Region: Magnolia
Financial & listing details
- Price per square foot: $260/sqft
- Tax assessed value: $93,597
- Annual tax amount: $1,411
- Date on market: 7/20/2026
Estimated market value
Not available
Estimated sales range
Not available
$1,687/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/13/2026 | Price change | $373,999-4.1%$260/sqft |
Source:  HAR #39329802 Report a problem | ||
| 7/20/2026 | Listed for sale | $390,000$271/sqft |
Source: HAR #39329802 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $1,411 +17.6% | $89,285 +20% |
| 2024 | $1,200 +1.1% | $74,404 -1.1% |
| 2023 | $1,187 | $75,210 |
| 2022 | -- | $75,210 +11.1% |
| 2021 | $1,258 -7.2% | $67,680 -1.5% |
| 2020 | $1,355 -4% | $68,700 -1.5% |
| 2019 | $1,411 +107.9% | $69,740 +117.2% |
| 2018 | $679 -1.7% | $32,110 -1.4% |
| 2017 | $690 -1.4% | $32,550 -1.4% |
| 2016 | $700 +49.6% | $33,010 -1.3% |
| 2015 | $468 | $33,450 +53.3% |
| 2014 | $468 | $21,820 -32% |
| 2013 | -- | $32,080 |
| 2012 | -- | $32,080 |
| 2011 | -- | $32,080 |
| 2010 | -- | $32,080 |
| 2009 | -- | $32,080 |
| 2008 | -- | $32,080 |
| 2007 | -- | $32,080 |
| 2006 | -- | $32,080 |
| 2005 | -- | $32,080 |
| 2004 | -- | $32,080 |
| 2003 | -- | $32,080 |
| 2002 | -- | $32,080 |
| 2001 | -- | $32,080 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: 77354
Nearby schools
Schools provided by the listing agent
- Elementary: Magnolia Parkway Elementary School
- Middle: Magnolia Parkway Junior High
- High: Magnolia High School
Source: HAR. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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HAR
