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    3206 Preston Dr Midland, TX 79707
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    Property profile & analytics

    3206 Preston Dr, Midland, TX 79707

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    • Residential income homes
    • 69,516 SF
    Off-Market
    Property ID
    US82-1296082
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 3206 Preston Dr

    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a stabilized portfolio of 43 single-family rental units located in Midland, Texas. Priced at $11,480,000, this portfolio boasts a total of 69,516 square feet and enjoys 100% occupancy. The properties are situated across 13 different street locations within desirable Midland neighborhoods. The portfolio predominantly comprises three-bedroom, two-bathroom duplexes and townhomes, each offering two parking spaces per unit. This is a turnkey investment ideal for those seeking immediate cash flow and strong returns. The portfolio's location in Midland, a thriving city within the heart of the Permian Basin's oil and gas industry, provides a stable and high-demand rental market. The properties are offered as a complete portfolio, presenting a rare opportunity to acquire a significant rental asset in a prime location. No ground lease is involved. This is a compelling investment opportunity for experienced investors seeking a substantial and well-performing rental portfolio in a robust market. The portfolio is currently structured for immediate income generation, offering a solid foundation for long-term growth and profitability. This is a unique chance to acquire a significant number of properties in a single transaction, streamlining the acquisition process and maximizing efficiency.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Midland
    County
    Midland
    State
    Texas
    Longitude
    -102.1451644
    Latitude
    32.0133152

    Comparable in this City

    • Contact for pricing
      14,750 SF

      Midland TX Multifamily Portfolio

      25-home portfolio with 100% tenant occupancy in Midland, TX.
      3208 Preston Dr, Midland, TX 79707
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      Midland Multifamily Investment Opportunity

      Multifamily property in Midland, Texas, ideal for investment.
      5200 Briarwood Ave, Midland, TX 79707
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    • $700,000
      1.70 Acres

      Midland, TX Land Opportunity

      1.7 acres of land in a growing corridor.
      6500 Briarwood Ave, Midland, TX 79707
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      6 Acres Commercial Land

      6 acres of land between Odessa and Midland off Hwy 191.
      8416 Tx-191, Midland, TX 79707
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    • $375,000
      2.20 Acres

      Residential Land in Gated Community

      Exclusive 2+ acre lots in Midland's upscale residential development.
      4211 Blackbird Dr, Midland, TX 79707
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      3.3 Acres on Mockingbird Lane

      3.3 acres of regional retail zoned land for sale.
      5306 Mockingbird Ln, Midland, TX 79707
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    Similar Nearby for Sale

    • Contact for pricing
      14,750 SF

      Midland TX Multifamily Portfolio

      25-home portfolio with 100% tenant occupancy in Midland, TX.
      3208 Preston Dr, Midland, TX 79707
      View Details
    • Contact for pricing

      Midland Multifamily Investment Opportunity

      Multifamily property in Midland, Texas, ideal for investment.
      5200 Briarwood Ave, Midland, TX 79707
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    • $700,000
      1.70 Acres

      Midland, TX Land Opportunity

      1.7 acres of land in a growing corridor.
      6500 Briarwood Ave, Midland, TX 79707
      View Details
    • Contact for pricing

      6 Acres Commercial Land

      6 acres of land between Odessa and Midland off Hwy 191.
      8416 Tx-191, Midland, TX 79707
      View Details
    • $375,000
      2.20 Acres

      Residential Land in Gated Community

      Exclusive 2+ acre lots in Midland's upscale residential development.
      4211 Blackbird Dr, Midland, TX 79707
      View Details
    • Contact for pricing

      3.3 Acres on Mockingbird Lane

      3.3 acres of regional retail zoned land for sale.
      5306 Mockingbird Ln, Midland, TX 79707
      View Details

    Similar Nearby for Lease

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      Midland-Odessa Petroplex Industrial Space

      Industrial space in the thriving Midland-Odessa Petroplex area.
      10712 W County Road 77, Midland, TX 79707
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      12,245 SF

      Modern Office Space Available

      Fully furnished office suite with modern amenities and parking.
      6301 Holiday Hill Rd, Midland, TX 79707
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      Office/Warehouse with Crane and Wash-Bay

      7,500 SF office/warehouse with crane, wash-bay, and apartments.
      1101 South County Road 1302, Midland, TX 79707
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      Industrial Property with Shop Space

      2.66-acre industrial property featuring office and shop space.
      10400 W County Road 72, Midland, TX 79707
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      9,500 SF

      Industrial Property on FM 1788

      9,500 SF industrial space on 6.025 acres for lease.
      5910 N Fm 1788, Midland, TX 79707
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    • Contact for pricing
      2,000 SF

      Retail Space in Midland, TX

      Retail space with high visibility and consistent daytime traffic.
      4700 Briarwood Ave, Midland, TX 79707
      View Details
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    Midland, TX 79707
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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