New 8-Unit Townhome
For Sale
$2,541,000
18747 FM 2493, Flint, TX 75762
Commercial Sale, Flint, TX
Property Size12,888 SF
Lot Size2.07 Acres
Price / SF$197.16
Days on Market431
Property Features for 18747 FM 2493
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Off Street
Security features
Security Lighting
Fencing
Fenced
Lot features
Inside City Limits
Directions
From the intersection of Loop 49 and FM 2493, head south on FM 2493. Property will be on the left in approx. 2.5 miles.
Standard status
Active
Size
12,888 SF
Lot size
2.07 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
Henrichson Subd Lot 2
Tax Annual Amount
14875
Legal Description
Henrichson Subd Lot 2
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
2023
Number of units
8
Building materials
Siding
Listing Agency:
Drake Real Estate & Investments
(903) 581-3737
Listed By:
Jeremy Caruthers · License #0627529
(903) 570-4099
Added: Jun 16, 2025
Changed: Aug 20
Last Checked: Aug 20 at 8:06PM
MLS# 25009171
Copyright © 2026 Greater Tyler Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Completed in 2023, this apartment property contains eight townhome units totaling 12,888 square feet. Each residence offers three bedrooms and two bathrooms, with approximately 1,400 square feet of living area and modern interior finishes. The community is fully occupied and includes 16 off-street parking spaces, or two spaces per unit. The property is fenced and served by public water and public sewer, with central heating and central air conditioning.
The 2.068-acre site also includes an additional 1.5 acres with infrastructure identified for development of 20 more units. Existing construction uses siding, and the property is located in Flint, Texas, in Smith County.
The 2.068-acre site also includes an additional 1.5 acres with infrastructure identified for development of 20 more units. Existing construction uses siding, and the property is located in Flint, Texas, in Smith County.
Key Highlights
- Eight‑unit townhome apartment complex completed in 2023
- 12,888 square feet on a 2.068‑acre site
- Each unit includes 3 bedrooms, 2 bathrooms, and approximately 1,400 SF
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
Lease Details
8
Residential units
100%
Occupancy
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 - Newly built, fully occupied townhome community with modern interiors, private parking, and public water and sewer.
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: Eight‑unit townhome apartment complex completed in 2023; 12,888 square feet on a 2.068‑acre site; Each unit includes 3 bedrooms, 2 bathrooms, and approximately 1,400 SF
