New-Build
For Sale
$399,999
308 S 11th St, Conroe, TX 77301
Residential income property with electric and natural gas service in Conroe.
Property Size2,332 SF
Price / SF$171.53
Days on Market46
Property Features for 308 S 11th St
General Information
Standard status
Active
Size
2,332 SF
Property subtype
Residential Income
Lease Term
12 Months
Amenities
Electric
Natural Gas
Building Details
Building Size
2,332 SF
Year Built
2026
Stories
1
Listing Agency:
(832) 998-0750
Listed By:
Aaron Plumlee
(832) 998-0750
Source:
Evrealestate
Added: Jul 17
Changed: Aug 30
Last Checked: Aug 30 at 7:35PM
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 Aaron Plumlee
Investment Insights
Based on property information with market context.
This triplex offers 2,332 square feet of residential income property space at 308 S 11th St in Conroe. The property carries a 2026 year built designation and includes electric and natural gas service.
Access is available from TX-105, with the property reached from the I-45 corridor via the documented route through Conroe. The location is also connected to FM-2854, FM-1485, and TX-105 through the surrounding road network.
Access is available from TX-105, with the property reached from the I-45 corridor via the documented route through Conroe. The location is also connected to FM-2854, FM-1485, and TX-105 through the surrounding road network.
Key Highlights
- Triplex with 2,332 square feet of property space
- 2026 year built
- Electric service
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
$26,008
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
6.50%
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%
$520,160
$520.2K
Cap Rate 7%
$371,543
$371.5K
Cap Rate 9%
$288,978
$289.0K
Market Conditions
NOI Build-Up for 2,332 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
$39.7K $17.04/SF
− Vacancy
−$2.6K −$1.11/SF
EGI
$37.2K $15.93/SF
− OpEx
−$11.1K −$4.78/SF
NOI
$26.0K $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 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%
$520,160
Cap Rate 7%
$371,543
Cap Rate 9%
$288,978
Alternative Uses
Best Use
Multifamily LT 5
$371.5K
$325.1K – $433.5K
NOI $26,008 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$350.0K
$306.3K – $408.4K
NOI $24,502 @ 7.0% cap · market cap 6.13%
Theoretical Best
Specialty Retail
$588.7K
$515.1K – $686.8K
NOI $41,210 @ 7.0% cap · market cap 10.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
364
Businesses Nearby
Explore this area
Business Placement
Demographics for 77301, TX
35,923
Population
12,854
Households
2.8
Avg Household Size
32
Median Age
21%
College-Educated
75%
High-School Grad
20.2 sq mi
ZIP Area
1,778
Density / Sq Mi
$64,885
Median Household Income
$35,575
Median Earnings
$1,229
Median Rent
$193,500
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?
Triplex - Residential income property with electric and natural gas service in Conroe.
Where is this triplex located?
The property is located at 308 S 11th St Conroe, TX.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: Triplex with 2,332 square feet of property space; 2026 year built; Electric service
