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23755864
23755865

5606 Elm Springs Dr., Houston, TX 77048 For Sale

ZW
TX TX 635112
PY Realty Co
Listed by PY Realty Co
$8,470,000
411 days on market
Updated 117 days ago
Opportunity zone

42-Home Single-Family Rental Portfolio | 7.21% CAP

Details
Property Type Multifamily
Sub Type Single Family Rental Portfolio
Units 42
Cap Rate 7.21%
NOI $611,023
Pro-Forma Cap Rate 7.91%
Pro-Forma NOI $670,000

Multifamily | 42 Units | $201,667/unit

Marketing description

Rare opportunity to acquire a portfolio of 42 single-family homes, located in close proximity to one another — ideal for efficient, centralized management.

  • Currently 90% leased, with multiple long-term tenants; some leases extend through 2028

  • All roofs replaced between 2018–2024

  • All HVAC systems replaced between 2018–2024

  • 7.21% CAP rate based on actuals at current 90% occupancy

  • Low-maintenance portfolio with strong rent collection and minimal turnover

A similar portfolio with an assumable loan is also available.

Contact me directly for full financials, rent roll, and additional information.

Investment highlights

  1. Strong Returns: 7.21% CAP rate based on current performance at 90% occupancy

  2. Stabilized Income: 90% leased with several tenants under long-term leases through 2028

  3. Capital Improvements Completed:

    • All roofs replaced between 2018–2024

    • All HVAC systems upgraded during the same period

  4. Efficient Operations: All 42 homes are located near each other, allowing for centralized, cost-effective management

  5. Low Maintenance & Turnover: Modernized systems reduce repair costs and support tenant retention

  6. Growth Potential: Lease-up of remaining vacancies and rental increases offer future upside

  7. Additional Opportunity Available: Similar portfolio with assumable loan also on the market

Listing Contacts

ZW
TX TX 635112
PY Realty Co
Listed by PY Realty Co

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$611,023.00
$50,918.58/mo

Valuation Metrics

0
DSCR
7.21%
Cap Rate
7.21%
ROI

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Additional Information

Name
Zhuying Wang
License
TX 635112
Brokerage
eXp Realty LLC
Brokerage Address
2711 Colquitt Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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