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Building Details

Building Size 1,663 SF

Year Built 2019

Stories 2

Listing Agency: Compass RE Texas, LLC - The Woodlands Show Phone

Listed By: Lauren Luneau · License #0637106 Show Phone

Source: Garygreene

Added: Aug 16 Changed: Oct 15 Last Checked: Oct 14 at 8:07PM

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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 Compass RE Texas, LLC - The Woodlands

Investment Insights

Based on property information with market context.

This 2019 duplex at 217 Oakcrest in Conroe contains two leased residences, each offering a 3-bedroom, 2.5-bath configuration. Interior features include open-concept living areas, granite countertops, stainless-steel appliances, and wood-look tile flooring. Each unit also includes a primary suite, an attached two-car garage, and a fenced backyard.

The property provides access to I-45, Lake Conroe, shopping, dining, employment centers, and the greater Conroe and The Woodlands area. Both sides are currently leased, supporting an established income-producing configuration for an owner seeking a two-unit residential asset.

Key Highlights

• Two leased units with established occupancy
• Each unit offers 3 bedrooms and 2.5 baths
• Built in 2019

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$18,547

Cap Rate

3.50%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$370,940 $370.9K

Cap Rate 7%

$264,957 $265.0K

Cap Rate 9%

$206,078 $206.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,663 SF

Gross rent

$28.3K $17.04/SF

− Vacancy

−$1.8K −$1.11/SF

EGI

$26.5K $15.93/SF

− OpEx

−$7.9K −$4.78/SF

NOI

$18.5K $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 Rate 5%

$370,940

Cap Rate 7%

$264,957

Cap Rate 9%

$206,078

Alternative Uses

Best Use

Multifamily LT 5

$265.0K

$231.8K – $309.1K (±1% cap)

NOI $18,547 @ 7.0% cap · market cap 3.50%

Second Best

Apartment 5plus

$249.6K

$218.4K – $291.2K (±1% cap)

NOI $17,473 @ 7.0% cap · market cap 3.30%

Theoretical Best

Specialty Retail

$419.8K

$367.4K – $489.8K (±1% cap)

NOI $29,388 @ 7.0% cap · market cap 5.54%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Auto Parts Store (Bike/Boat/Book/etc) Store Kitchen & Bath Showroom Law Firm Plumbing Service Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

45

Businesses Nearby

Explore this area Business Placement

Demographics for 77304, TX

35,969

Population

18,462

Households

1.9

Avg Household Size

38

Median Age

42%

College-Educated

93%

High-School Grad

40.0 sq mi

ZIP Area

899

Density / Sq Mi

$78,574

Median Household Income

$43,314

Median Earnings

$1,397

Median Rent

$324,800

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Duplex - Both residences feature open layouts, attached garages, granite countertops, stainless-steel appliances, and private fenced yards.

Where is this duplex located?

The property is located at 217 Oakcrest Conroe, TX.

What is the asking price?

The asking price for this property is $530,000.

What are key features of this property?

This property features: Two leased units with established occupancy; Each unit offers 3 bedrooms and 2.5 baths; Built in 2019