Live Oak Cottages
June T12 Financials | 100% Occupied | 7.9% CAP Rate on Actuals
Marketing description
Lifestyles Realty – Central Texas is pleased to exclusively offer for sale Live Oak Cottages, a 9-unit single-family cottage rental community located at 1300 N Live Oak St in Rockport, Texas. The parcel includes one area suitable for future expansion. Following a recently completed capital improvement program over $111,000 — including flooring, subfloor, moisture barrier, and insulation replacement across the portfolio — the community is now 100% leased, presenting a buyer with a stabilized, turnkey coastal Texas rental asset.
Rockport is a coastal city on the Texas Gulf Coast and serves as the county seat of Aransas County, roughly midway between Corpus Christi and Victoria. The city is known for its fishing, boating, and birding tourism economy, its working waterfront, and its role as a retirement and second-home destination along the Texas coastal bend.
Rockport's population has grown steadily in recent years, with current estimates placing the city at approximately 10,700–11,600 residents — up meaningfully from the 2020 Census count — reflecting continued in-migration to the coastal bend region. Median household income in the area is estimated in the low-to-mid $60,000–$70,000 range, with average household income figures notably higher, consistent with a market that includes both a working-class labor force and a substantial retiree/second-home population.
The area's economy is anchored by tourism, marine trades, healthcare, and retail/service employment, supplemented by proximity to the broader Corpus Christi metro job market. This mix of steady population growth, a coastal lifestyle draw, and a workforce that regularly seeks affordable rental housing supports consistent demand for well-located single-family rental product such as Live Oak Cottages.
Investment highlights
- Recently stabilized occupancy — all 9 cottages currently leased following completion of a portfolio-wide flooring, subfloor, and insulation renovation. Owner has reported approximately $111K in Capex over past year.
- Individually metered electric and water at each cottage, minimizing owner-paid utility exposure.
- Room for one additional unit or amenity space, subject to buyer's due diligence.
- Simple, durable single-family product type (3BR/2BA, 1,056 SF) that is easier and less costly to maintain than multi-story multifamily construction.
- In-place rent of $1,550/month per cottage sits modestly below the broader submarket's 3-bedroom market rent trend (approximately $1,600–$1,650/month per CoStar), suggesting some room for rent growth as leases turn.
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