Building Details

Building Size 1,122 SF

Year Built 2016

Buildings 2

Listing Agency: Alliance Properties

Listed By: Candace Brzezinski Show Phone

Source: Hollyjackson

Added: Oct 16 Changed: Oct 26 Last Checked: Oct 31 at 3:40PM

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Investment Insights

Based on property information with market context.

Two manufactured homes sit on a 0.46-acre parcel at 618 Golden Bend Drive in Highlands. One residence has two bedrooms and two bathrooms and is described as move-in ready. The other contains three bedrooms and two bathrooms and requires repairs. Both homes are being sold as-is. The property also includes multiple storage sheds and a 12' x 24' wooden workshop.

The parcel is fully fenced and occupies a corner position in a cul-de-sac. I-10 is accessible from the property, with Beltway 8 approximately 9.5 miles away and the 610 Loop about 15 miles away.

Key Highlights

• Two manufactured homes on a 0.46‑acre lot
• First home has 2 bedrooms and 2 bathrooms; described as move‑in ready
• Second home has 3 bedrooms and 2 bathrooms and needs repairs

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$7,439

Cap Rate

3.94%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$148,780 $148.8K

Cap Rate 7%

$106,271 $106.3K

Cap Rate 9%

$82,656 $82.7K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,122 SF

Gross rent

$14.9K $13.32/SF

− Vacancy

−$1.4K −$1.27/SF

EGI

$13.5K $12.05/SF

− OpEx

−$6.1K −$5.42/SF

NOI

$7.4K $6.63/SF

Area

Harris County, TX

Vacancy

9.50%

Lease Rate

$13.32 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$148,780

Cap Rate 7%

$106,271

Cap Rate 9%

$82,656

Alternative Uses

Best Use

Apartment 5plus

$106.3K

$93.0K – $124.0K (±1% cap)

NOI $7,439 @ 7.0% cap · market cap 3.94%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$306.4K

$268.1K – $357.4K (±1% cap)

NOI $21,445 @ 7.0% cap · market cap 11.35%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Lease Details

2

Residential units

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

79

Businesses Nearby

Explore this area Business Placement

Demographics for 77562, TX

11,861

Population

4,184

Households

2.8

Avg Household Size

38

Median Age

12%

College-Educated

81%

High-School Grad

13.5 sq mi

ZIP Area

879

Density / Sq Mi

$63,636

Median Household Income

$39,712

Median Earnings

$1,190

Median Rent

$195,300

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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Multi-Trailer Income Property

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Frequently Asked Questions

What type of property is this?

Multifamily property - A fenced corner parcel includes storage sheds and a separate wooden workshop.

Where is this multifamily property located?

The property is located at 618 Golden Bend Drive Highlands, TX.

What is the asking price?

The asking price for this property is $189,000.

What are key features of this property?

This property features: Two manufactured homes on a 0.46‑acre lot; First home has 2 bedrooms and 2 bathrooms; described as move‑in ready; Second home has 3 bedrooms and 2 bathrooms and needs repairs