Current Use by Public Records
- Residential income homes
Property Details for 521 Fm 2200
- Lot size
- 2.04 lot acres
- Property type
- Residential income homes
Description
This exceptional investment opportunity comprises three separate income-producing properties totaling 17 rental units, strategically located in Hondo and D'Hanis, Texas. Two properties are situated in Hondo, one at 3002 Ave E (a corner lot on a paved Farm to Market Road) and another at 1400 Ave W (a corner lot on a paved city street). The third property is located at 521 FM 2200 S in D'Hanis, situated on paved FM 2200 S just outside city limits. The combined portfolio boasts 7,976 square feet across approximately 2.04 acres of land. Built between 1971 and 1999, these properties offer a mix of single-family rental units, currently enjoying 100% occupancy (except for the D'Hanis property, which is at 88% occupancy). The properties are served by public utilities (electric, water, and sewer). The Hondo properties are not located in a flood zone. The owner reports an approximate annual gross income of $153,000 and gross operating expenses of approximately $30,000, resulting in a net operating income (NOI) of $123,000. Lease terms vary, with most units on multi-month leases, and a 45-day lease termination option available. Detailed rent rolls are available upon request. This portfolio presents a compelling opportunity for investors seeking a strong return on investment in a stable market. The properties are zoned for multi-family and single-family residential use and offer sufficient uncovered parking. Lot sizes are approximately 0.32 acres for the Ave E property, 0.29 acres for the Ave W property, and 1.43 acres for the D'Hanis property.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- D'Hanis
- County
- Medina
- State
- Texas
- Longitude
- -99.2757
- Latitude
- 29.3251
