Residential Income
For Sale
Contact for pricing
2483 Waterwood Drive, Chandler, TX 75758
Fully leased portfolio offering two 2025 tiny homes and one mobile home as a single income-producing asset.
Property Size2,797 SF
Price / SF$123.35
Days on Market54
Property Features for 2483 Waterwood Drive
General Information
Standard status
Active
Size
2,797 SF
Property subtype
Multifamily
Zoning
Residential
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$34,428
Building Details
Year Built
2025
Buildings
3
Units
3
Tenancy
Multi
Listing Agency:
Scarborough Commercial Real Estate
(512) 296-8727
Listed By:
Samuel Scarborough, CCIM · License #TX 687976
Source:
Crexi
Added: Jun 20
Changed: Aug 12
Last Checked: Aug 12 at 11:46AM
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 Scarborough Commercial Real Estate
Investment Insights
Based on property information with market context.
This offering is a fully occupied residential investment portfolio made up of two recently built tiny homes and one mobile home, sold together as a single asset. The two tiny homes are 616 SF each and were built in 2025, sharing a common yard arrangement. A separate 1,565 SF mobile home sits on its own lot and includes a fenced yard, carport parking, and a separate septic system. All three residences are currently leased to existing tenants, creating a stabilized configuration intended to keep downtime minimal.
The property is located within the Waterwood community in Chandler, Texas, and is presented as two tiny home lots totaling approximately 0.66 acres, along with a separate 0.39-acre lot for the mobile home. The homes are offered together, simplifying ownership for buyers seeking a residential portfolio rather than a single-unit investment.
For investors, this structure provides a diversified residential mix within one purchase, combining newer tiny home product with an existing mobile home improvement package that includes dedicated site services and covered parking. For owner-operators or long-term stakeholders, the fully leased status and current tenant occupancy provide an immediate path to rental income while retaining flexibility to manage the three units under one ownership group.
The property is located within the Waterwood community in Chandler, Texas, and is presented as two tiny home lots totaling approximately 0.66 acres, along with a separate 0.39-acre lot for the mobile home. The homes are offered together, simplifying ownership for buyers seeking a residential portfolio rather than a single-unit investment.
For investors, this structure provides a diversified residential mix within one purchase, combining newer tiny home product with an existing mobile home improvement package that includes dedicated site services and covered parking. For owner-operators or long-term stakeholders, the fully leased status and current tenant occupancy provide an immediate path to rental income while retaining flexibility to manage the three units under one ownership group.
Key Highlights
- Fully occupied residential investment portfolio offered as one asset: two 2025 tiny homes and one mobile home
- Two 616 SF tiny homes built in 2025 on approximately 0.66 acres, currently leased to existing tenants
- 1,565 SF mobile home on a separate 0.39‑acre lot, also currently leased
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
$19,981
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
5.79%
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%
$399,620
$399.6K
Cap Rate 7%
$285,443
$285.4K
Cap Rate 9%
$222,011
$222.0K
Market Conditions
NOI Build-Up for 2,797 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
$41.3K $14.76/SF
− Vacancy
−$5.0K −$1.77/SF
EGI
$36.3K $12.99/SF
− OpEx
−$16.3K −$5.84/SF
NOI
$20.0K $7.14/SF
Area
Henderson County, TX
Vacancy
12.00%
Lease Rate
$14.76 /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%
$399,620
Cap Rate 7%
$285,443
Cap Rate 9%
$222,011
Alternative Uses
Best Use
Apartment 5plus
$285.4K
$249.8K – $333.0K
NOI $19,981 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$983.9K
$860.9K – $1.15M
NOI $68,873 @ 7.0% cap · market cap 19.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
48
Businesses Nearby
Explore this area
Business Placement
Demographics for 75758, TX
9,890
Population
5,080
Households
1.9
Avg Household Size
47
Median Age
21%
College-Educated
91%
High-School Grad
44.2 sq mi
ZIP Area
224
Density / Sq Mi
$58,587
Median Household Income
$37,653
Median Earnings
$982
Median Rent
$159,400
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?
Multifamily property - Fully leased portfolio offering two 2025 tiny homes and one mobile home as a single income-producing asset.
Where is this multifamily property located?
The property is located at 2483 Waterwood Drive Chandler, TX.
What is the asking price?
The asking price for this property is $345,000.
What are key features of this property?
This property features: Fully occupied residential investment portfolio offered as one asset: two 2025 tiny homes and one mobile home; Two 616 SF tiny homes built in 2025 on approximately 0.66 acres, currently leased to existing tenants; 1,565 SF mobile home on a separate 0.39‑acre lot, also currently leased
