New Townhome Complex in
For Sale
Contact for pricing
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 Market493
Property Features for 18747 FM 2493
General Information
Standard status
Active
Size
12,888 SF
Class
A
Lot size
1.50 Acres
Property subtype
Multifamily
Zoning
R-3
Occupancy
100%
Investment Type
Stabilized
Building Details
Year Built
2023
Buildings
1
Stories
2
Units
8
Listing Agency:
Drake Real Estate & Investments
Listed By:
Matthew Marshall · License #TX 75703
(903) 581-3737
Source:
Crexi
Added: Jun 10, 2025
Changed: Oct 4
Last Checked: Oct 14 at 9:21PM
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 & Investments
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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 / Yr
$96,757
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
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
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 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.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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.
