Icon Realty has come across another outstanding investment opportunity for one of our investors. The subject property has a 3-year lease backed by Chevron Oil, with 2 1/2 years remaining on the lease. The home is located in the North Houston suburb of The Woodlands. Read more info about The Woodlands here and also you can view a map of the different Woodlands villages here.
The current owner of this home is marrying into money and wants to unload this property. Her loss will be your gain!
We here at Icon Realty helped the current owner put a tenant in this house when she decided to move in with her fiancé. We are also managing this property for her. We were able to find a qualified tenant for this house in 6 days at $1850 per month. We should be able to re-rent at this rate or higher once this lease expires in Oct. 2011. It is hard to dictate what the market will be like 2 1/2 years from now, but it certainly wouldn’t lease for any less than it’s current rate.
The numbers are absolutely beautiful for this property! View the accurate property proforma below:
We here at Icon Realty were also involved with the purchase of this home a couple of years ago so we have very intimate knowledge of this property. The property is in excellent condition, has no deferred maintenance, and the current tenants take excellent care of the home. I had her price this home at her absolute bottom line. All she is looking to do is breakeven on this property. Her breakeven point puts the property slightly below market value for the home.
Property Breakdown:
Plenty of other pictures ready for the asking.
This home is located in The Woodlands, Texas which is one of the most sought after areas in the greater Houston area due to the large concentration of oil and technology business located in the immediate area. This concentration of business has led to the success and real estate prosperity of The Woodlands area. The Woodlands has seen a steady increase in home values over the last 5 years, and continues to grow even in the current economic downturn. We have seen an overwhelming demand for this type of property in the area for these relocating families who are moving here for business. MLS listing information can be viewed here: http://search.har.com/engine/dispsearch.cfm?mlnum=42868641
We here at Icon Realty can provide you with any kind of research or information you will need to help you make an educated decision about this purchase. Let us put it to you this way, we wouldn’t waste our time marketing this property or any other property if we didn’t think it was a great investment opportunity. Call Jeremy Larkin today at 832-622-8100 or email at larkin@houstonicon.com
About Icon Realty
Icon Realty Group, LLC is an independent real estate brokerage servicing Suburban North Houston, including The Woodlands, Spring, Conroe, Magnolia, Tomball, Cypress, and the surrounding area. Primary services include residential home sales, leasing, investing, and property management. Read more about Icon Realty at our website http://www.houstonicon.com/
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