Lake Conroe Condo with Dual
For Sale
$259,000
7039 Kingston Cove Ln 306, Willis, TX 77318
Condo on Lake Conroe with potential for dual living.
Property Size1,188 SF
Lot Size0.02 Acres
Days on Market268
Property Features for 7039 Kingston Cove Ln 306
General Information
Standard status
Active
Size
1,188 SF
Lot size
0.02 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$4,920
Building Details
Building Size
1,188 SF
Year Built
2006
Stories
1
Listing Agency:
CONNECT REALTY.COM
(832) 588-5842
Listed By:
Rene Sorola · License #0511457
(832) 588-5842
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 23
Last Checked: Aug 23 at 9:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CONNECT REALTY.COM
Investment Insights
Based on property information with market context.
This condo is located on the shores of Lake Conroe. The property is suitable as a full-time residence, a weekend retreat, or a vacation rental. The layout offers the potential for dual living spaces with two separate entry doors. The main unit features views of the lake. The studio-style suite includes a kitchenette and a full bath. Community amenities include a pool, tennis courts, a park, and a full-service marina. Water and trash services are included.
Key Highlights
- Breathtaking lake views of Lake Conroe.
- Potential for dual living spaces with separate entry doors.
- Self‑contained studio‑style suite with kitchenette and full bath (ideal for guests or rental income).
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$12,482
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$249,640
$249.6K
Cap Rate 7%
$178,314
$178.3K
Cap Rate 9%
$138,689
$138.7K
Market Conditions
NOI Build-Up for 1,188 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$24.1K $20.28/SF
− Vacancy
−$1.4K −$1.18/SF
EGI
$22.7K $19.10/SF
− OpEx
−$10.2K −$8.60/SF
NOI
$12.5K $10.51/SF
Area
Montgomery County, TX
Vacancy
5.80%
Lease Rate
$20.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$249,640
Cap Rate 7%
$178,314
Cap Rate 9%
$138,689
Alternative Uses
Best Use
Apartment 5plus
$178.3K
$156.0K – $208.0K
NOI $12,482 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$299.9K
$262.4K – $349.9K
NOI $20,994 @ 7.0% cap · market cap 8.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
12
Businesses Nearby
Explore this area
Business Placement
Demographics for 77318, TX
17,518
Population
8,654
Households
2
Avg Household Size
44
Median Age
30%
College-Educated
91%
High-School Grad
37.0 sq mi
ZIP Area
473
Density / Sq Mi
$90,246
Median Household Income
$51,428
Median Earnings
$1,209
Median Rent
$288,900
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Short term rental property - Condo on Lake Conroe with potential for dual living.
Where is this short term rental property located?
The property is located at 7039 Kingston Cove Ln 306 Willis, TX.
What is the asking price?
The asking price for this property is $259,000.
What are key features of this property?
This property features: Breathtaking lake views of Lake Conroe.; Potential for dual living spaces with separate entry doors.; Self‑contained studio‑style suite with kitchenette and full bath (ideal for guests or rental income).
