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    Skylane Ave Corsicana, TX 75109

    For Sale
    $6,700,000

    27 New Homes, High Demand Area

    Property size:
    39,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    365
    This exceptional investment opportunity presents a portfolio of 27 newly constructed single-family rental homes located in Corsicana, Texas, within Navarro County. Built in 2023, these properties boast a combined 39,100 square feet of net rentable space, spread across 5.8 acres and zoned R2 Residential. Each of the 27 one-story buildings features a 3-bedroom, 2-bathroom, 2-car garage floor plan, ranging from 1401 to 1500 square feet. Currently operating at 65% occupancy, the portfolio generates a Net Operating Income (NOI) of $420,200, resulting in a 6.27% capitalization rate. The asking price is $6,700,000, translating to approximately $248,148.15 per unit. Situated in a master-planned development encompassing 280 acres, this portfolio benefits from a strategic location approximately 50 miles southeast of Dallas, along IH-45. Corsicana's expanding industry and employment, coupled with a significant housing shortage, create a robust rental market. The seller is considering a 12-month guarantee of 100% income occupancy. The properties are part of a larger development including commercial sites and an apartment complex. This is a stabilized investment with strong potential for future growth in a high-demand market. The portfolio is classified as Class B multifamily.

    Property Features for 0 Skylane Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    39,000 SF
    Class
    B
    Lot Size
    252,648 SF

    Building Details

    Year Built
    2023
    Buildings
    27
    Stories
    1
    Units
    27

    HighLights

    • Exceptional market cap rate in a high‑demand submarket experiencing strong rental growth.
    • Prime location with excellent visibility and access.
    • Modern, efficient floor plan ideal for a variety of uses.
    • Strong tenant base with long‑term leases.
    • Significant upside potential through lease‑up or rent increases.
    Property Profile Location Intelligence

    Current Use by Public Records

    Residential income homes

    Map

    City
    Corsicana
    County
    Navarro
    State
    Texas
    Longitude
    -96.5060373
    Latitude
    32.07458306

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    FAQs

    What type of property is this?
    Multifamily property - 27 New Homes, High Demand Area
    Where is this multifamily property located?
    The property is located at Skylane Ave Corsicana, TX.
    What is the asking price?
    The asking price for this property is $6,700,000.
    What are key features of this property?
    This property features: Exceptional market cap rate in a high-demand submarket experiencing strong rental growth.; Prime location with excellent visibility and access.; Modern, efficient floor plan ideal for a variety of uses.
    (817) 288-5556
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    Skylane Ave Corsicana, TX 75109
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Skylane Ave Corsicana, TX 75109
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