Special offer
Home > Blogs > Johnny Schiro > Icon Houston
bookmark_border

Leased Single-Family Home Portfolio

By
Real Estate Broker/Owner with Icon Real Estate

We recently listed a set of (10) single-family homes, all leased, in growing areas of Suburban North Houston. All built in 2005-2007 with strong cash flow (average Cap Rate 8.4%). Average sales price is $150k per home, and they may be purchased individually. Each of these is a prototypical rental home investment for the Houston suburban market. Our rental market has been excellent in the past few years and is on the rise.

Examples from the portfolio:

List $140k, Rent $1,350

List $160k, Rent $1,550

List $130k, Rent $1,295

Agents & brokers: we pay 3% commissions or referral fees for co-op.

Full financial details, pictures, comps, etc. available upon request.

Show All Comments
Jess Rankin
Pickering Group - Phoenix, AZ

Texas seems to be hot...how are sales going there?

Jess Rankin, Pickering Group

Dec 04, 2007 05:29 PM
Johnny Schiro
Icon Real Estate - Houston, TX

We're still going strong here in Houston. Prices are up 6% from last year (as of Oct.)...some areas of town are taking more time to sell, but the popular suburban areas (northwest particularly) are still moving just fine.

More and more relo business seems to be coming our way, which certainly doesn't hurt.

Dec 04, 2007 06:03 PM
Anonymous
Phillip B

Thinking about moving to Houston late 08/early 09.  Will need access to the Texas Heath Center (or something like that - some big complex with 7 hospitals and a bunch of congestion) for my girlfriend to attend pt school, and access to the rest of houston for me to attend a job of some kind.  Light on the details, I know, but preliminarily, what would you recommend for someone in my shoes?  Looking to purchase a home if it's not prohibitively/excessively costly.

Dec 06, 2007 02:50 PM
#3
Johnny Schiro
Icon Real Estate - Houston, TX

What would you consider prohibitively costly? The Medical Center area (which I'm sure you're referring to) is close to downtown Houston, so you've got many, many different directions you could go based on (1) Price Range and (2) Urban vs. Suburban preference.

Dec 07, 2007 03:15 AM
Back to Top

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?