SUMMARY: Three income-producing properties, including a 2023-built apartment complex, a San Antonio triplex, and a negotiated single-family rental with free management.
Houston 10-Unit Collecting an Estimated $15,500/Mo — $1.675M
Cap 7.67% | CoC 7.06% | Cash Needed $416,000 | Built 2023
This 100% occupied 10-unit property projects $186,000 in annual rental income using $1,550 per unit, waiting on the confirmed rent roll but owner reports leases between $1500 - $1600 per door. All ten apartments are newer-construction 2-bedroom, 2-bathroom units with approximately 915 square feet, built in 2023. I think this sells around $1.675M, but I'd start at $1.6M, or $160,000 per door. The nearby East River development is a 150-acre mixed-use waterfront project with its first 26-acre phase already open which is pulling in higher end anchor tenants and tenant attractions.
4403 Nichols St Houston TX 77020
San Antonio Triplex Projecting $4,050/Mo — $360k
Cap 8.46% | CoC 10.07% | Cash Needed $93,600 | Built 1954
This three-unit property currently collects $2,700 per month, with one vacant two-bedroom unit that I'm underwriting at $1,350. Fully leased, that puts gross income at $4,050/mo on a $360K purchase, with three large apartments totaling 4,510 square feet. The property has existing tenants, existing lease terms, and the neighboring duplex at 204 Senisa is also available from the same owner for anyone interested in a larger acquisition. St. Mary's University and Our Lady of the Lake University are established tenant anchors in this part of San Antonio.
206 Senisa Dr San Antonio TX 78228
Rosharon Rental Collecting $3,081/Mo — $289k
Cap 7.81% | CoC 7.60% | Cash Needed $75,140 | Built 2022
This is one of the stronger single-family rental opportunities I've seen recently: $3,081 in monthly rent against a negotiated $289,000 purchase price, comfortably above the 1% rule. The tenant is already in place through June 30, 2027, and the seller is including two years of property management at no cost. You're getting newer construction, immediate positive cash flow, no lease-up period, and a purchase price below fair market value. The property is in the growing Iowa Colony area of Brazoria County, within Alvin ISD. (off market deal, link below is for images only).
1242 Scarlet Creek Dr Rosharon TX 77583
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