New Townhome Complex in
For Sale
$2,541,000
18747 FM 2493, Flint, TX 75762
Eight-unit townhome complex with expansion potential in Flint, Texas.
Property Size12,888 SF
Lot Size1.50 Acres
Price / SF$197.16
Days on Market374
Property Features for 18747 FM 2493
General Information
Standard status
Active
Size
12,888 SF
Total Parking Spaces
16
Lot size
1.50 Acres
Property subtype
Residential Income
Net Operating Income
$125,268
Amenities
Central Air, Electric
Central, Electric
Dishwasher, Electric Range, Microwave, Refrigerator
Kitchen Island
Wood
Off Street, On Site, Parking Lot
Rain Gutters, Lighting
Building Details
Building Size
12,888 SF
Year Built
2023
Buildings
1
Listing Agency:
Drake Real Estate & Investment
(903) 581-3737
Listed By:
Matthew Marshall · License #75703
(903) 581-3737
Source:
Evrealestate
Added: Aug 16, 2025
Changed: Aug 23
Last Checked: Aug 24 at 4:21AM
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 Drake Real Estate & Investment
Investment Insights
Based on property information with market context.
This is a newly constructed, fully occupied eight-unit townhome complex located in Flint, Texas. The property offers a value-add opportunity for purchasers. There is potential to develop an additional 20 units on the adjacent 1.5 acres, which is primed for vertical construction. The property size is 12,888 square feet.
Key Highlights
- Newly constructed (2023) 8‑unit townhome complex.
- 100% occupied, providing immediate income.
- Opportunity to develop 20 more units on 1.5 acres.
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
$96,757
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
3.81%
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%
$1,935,140
$1.9M
Cap Rate 7%
$1,382,243
$1.4M
Cap Rate 9%
$1,075,078
$1.1M
Market Conditions
NOI Build-Up for 12,888 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
$193.3K $15.00/SF
− Vacancy
−$17.4K −$1.35/SF
EGI
$175.9K $13.65/SF
− OpEx
−$79.2K −$6.14/SF
NOI
$96.8K $7.51/SF
Area
Smith County, TX
Vacancy
9.00%
Lease Rate
$15.00 /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%
$1,935,140
Cap Rate 7%
$1,382,243
Cap Rate 9%
$1,075,078
Alternative Uses
Best Use
Apartment 5plus
$1.38M
$1.21M – $1.61M
NOI $96,757 @ 7.0% cap · market cap 3.81%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$9.71M
$8.49M – $11.33M
NOI $679,520 @ 7.0% cap · market cap 26.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Explore this area
Business Placement
Demographics for 75762, TX
13,923
Population
6,052
Households
2.3
Avg Household Size
40
Median Age
38%
College-Educated
97%
High-School Grad
44.7 sq mi
ZIP Area
311
Density / Sq Mi
$91,429
Median Household Income
$47,587
Median Earnings
$1,201
Median Rent
$283,100
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?
Apartment building - Eight-unit townhome complex with expansion potential in Flint, Texas.
Where is this apartment building located?
The property is located at 18747 FM 2493 Flint, TX.
What is the asking price?
The asking price for this property is $2,541,000.
What are key features of this property?
This property features: Newly constructed (2023) 8‑unit townhome complex.; 100% occupied, providing immediate income.; Opportunity to develop 20 more units on 1.5 acres.
