Lake Conroe Triplex Investment
14010 Longstreet Road 5, Willis, TX 77318
Gated community triplex near Lake Conroe, pre-selling now!
Type:Multi Family
Property size:
4,098 SFLot size:
0.14 AcresPrice / SF:
$192/SF- Added:
- Mar 16, 2026
- Days on Market:
- 62
- Last Refresh:
- Apr 5 at 9:44 pm
Property Features for 14010 Longstreet Road 5
General Information
- Standard status
- Active
- Size
- 4,098 SF
- Lot size
- 0.14 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 2025
Listing agent Ernesto Grey License #0591229
Listing office Ernesto Grey (956) 330-4460
Listing date Mar 16, 2026
Source Exitrealty
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 Ernesto Grey
HighLights
- Income property investment opportunity: Buy a building and lease out the apartments.
- Located in a high‑growth area near Lake Conroe and FM I‑45.
- Gated community with modern 3‑bed, 2.5‑bath apartments.
- Each apartment includes a one‑car garage, driveway parking, and access to overflow parking.
- Open kitchen with granite countertops and all appliances included.
- Construction starting soon with completion estimated for Fall 2025.
Overview
The Vintage at Lake Conroe is located in the high-growth area of northwest Houston/Conroe, near Lake Conroe and minutes from FM I-45 via FM 1097. This gated community will consist of 60 buildings, each containing three apartments. Each apartment features a modern design with 3 bedrooms and 2.5 bathrooms, along with a covered porch in the front and back. Each apartment includes a one-car garage, one driveway parking spot, and access to overflow parking. The open kitchen features granite countertops, and all appliances are included. This property is presented as an income property investment opportunity in the Lake Conroe area. Pre-selling is underway, offering the option to purchase an entire building and lease out the three apartments, or to reside in one and lease out the other two. Construction is scheduled to begin this spring, with an estimated completion date by the Fall of 2025. The property size is 4098 square feet. Note that the photos shown are renderings from similar properties. The intended use of the property is as a residential income property.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$507.8K
NOI $45,704 @ 9.00% cap · cautious / downside scenario
Moderate
$652.9K
NOI $45,704 @ 7.00% cap · market / base-case scenario
Aggressive
$914.1K
NOI $45,704 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $69.8k | $17.04 |
| − Vacancy | −$4.5k | −$1.11 |
| EGI | $65.3k | $15.93 |
| − OpEx | −$19.6k | −$4.78 |
| NOI | $45.7k | $11.15 |
4,098 SF · lease $17.04/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$652.9K
$571.3K – $761.7K
NOI $45,704 @ 7.0% cap · market cap 5.79%
Second Best
Apartment 5plus
$615.1K
$538.2K – $717.6K
NOI $43,058 @ 7.0% cap · market cap 5.45%
Theoretical Best
Specialty Retail
$1.03M
$905.2K – $1.21M
NOI $72,419 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Willis
- County
- Montgomery
- State
- Texas
- Longitude
- -95.5183
- Latitude
- 30.4477
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Gated community triplex near Lake Conroe, pre-selling now!
Where is this triplex located?
The property is located at 14010 Longstreet Road 5 Willis, TX.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: Income property investment opportunity: Buy a building and lease out the apartments.; Located in a high‑growth area near Lake Conroe and FM I‑45.; Gated community with modern 3‑bed, 2.5‑bath apartments.
