New Construction
New
For Sale
$424,900
1060 Mann Rd, Conroe, TX 77303
Each unit includes three bedrooms, two bathrooms, and a single-car garage.
Property Size2,496 SF
Days on Market4
Property Features for 1060 Mann Rd
General Information
Standard status
Active
Size
2,496 SF
Total Parking Spaces
2
Property subtype
Investment
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$39
Building Details
Building Size
2,496 SF
Year Built
2026
Stories
1
Units
2
Listing Agency:
(936) 203-0004
Listed By:
Nancy Schwind · License #0700588
(936) 203-0004
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 10:41AM
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 Nancy Schwind
Investment Insights
Based on property information with market context.
This duplex is currently under construction and is configured as two residences. Each side includes 3 bedrooms, 2 full bathrooms, a large single-car garage, washer and dryer connections, and a separate storage room within the garage. Both residences also include a backyard. Completion is estimated for the end of September, with a listed year built of 2026.
Located at 1060 Mann Rd in Conroe, the property is a few short minutes from I-45, dining, shopping, and entertainment. The location is characterized as car-dependent, with a Walk Score of 14 and a Bike Score of 20.
Located at 1060 Mann Rd in Conroe, the property is a few short minutes from I-45, dining, shopping, and entertainment. The location is characterized as car-dependent, with a Walk Score of 14 and a Bike Score of 20.
Key Highlights
- Two‑unit duplex with 3 bedrooms and 2 full bathrooms per side
- Large single‑car garage included with each residence
- Washer and dryer connections in both units
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
$27,837
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
6.55%
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%
$556,740
$556.7K
Cap Rate 7%
$397,671
$397.7K
Cap Rate 9%
$309,300
$309.3K
Market Conditions
NOI Build-Up for 2,496 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
$42.5K $17.04/SF
− Vacancy
−$2.8K −$1.11/SF
EGI
$39.8K $15.93/SF
− OpEx
−$11.9K −$4.78/SF
NOI
$27.8K $11.15/SF
Area
Montgomery County, TX
Vacancy
6.50%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
30.00%
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%
$556,740
Cap Rate 7%
$397,671
Cap Rate 9%
$309,300
Alternative Uses
Best Use
Multifamily LT 5
$397.7K
$348.0K – $464.0K
NOI $27,837 @ 7.0% cap · market cap 6.55%
Second Best
Apartment 5plus
$374.7K
$327.8K – $437.1K
NOI $26,226 @ 7.0% cap · market cap 6.17%
Theoretical Best
Specialty Retail
$630.1K
$551.4K – $735.2K
NOI $44,109 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
Explore this area
Business Placement
Demographics for 77303, TX
20,974
Population
9,516
Households
2.2
Avg Household Size
36
Median Age
14%
College-Educated
84%
High-School Grad
60.9 sq mi
ZIP Area
344
Density / Sq Mi
$72,827
Median Household Income
$42,956
Median Earnings
$1,157
Median Rent
$232,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Each unit includes three bedrooms, two bathrooms, and a single-car garage.
Where is this duplex located?
The property is located at 1060 Mann Rd Conroe, TX.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Two‑unit duplex with 3 bedrooms and 2 full bathrooms per side; Large single‑car garage included with each residence; Washer and dryer connections in both units
