5311 2Nd St Crosby, TX 77532
- Residential income homes
- 2,609 SF
Current Use by Public Records
- Residential income homes
Property Details for 5311 2Nd St
- Year built
- 1953
- Property size
- 2,609 SF
- Property type
- Residential income homes
- APN
- 073-031-005-0014
Description
This exceptional investment opportunity presents two homes situated on a 14,200 sq ft lot in Crosby, TX. The property consists of a fully renovated 3-bedroom, 1-bathroom home (1,134 sq ft) and a brand-new 4-bedroom, 2-bathroom home (1,475 sq ft), both currently leased. The renovated home boasts a new sewer line and has been re-leveled, while the newer home is a 2023 Clayton Homes Marvel 4 model. Both homes feature 12-month leases, with the renovated home leased at $1,750 per month since April 18, 2024, and the new home leased at $1,850 per month since March 29, 2024, generating a combined gross monthly rental income of $3,400. The property includes ample additional parking with crushed asphalt and gravel between the homes. The total square footage is 2,609 sq ft, with a current 100% occupancy rate. Financial statements, including a pro-forma cap rate of 8.81% and a pro-forma NOI of $32,581, are available upon request. This stabilized investment offers a compelling opportunity for portfolio growth or entry into the real estate market. The property is zoned for Harris County, Harris County ETJ, and Crosby MUD. The asking price is $370,000, representing a price per square foot of $141.82. Each unit has 2 parking spaces. The homes were built in 1953 and renovated/built in 2023.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Crosby
- County
- Harris
- State
- Texas
- Longitude
- -95.062562990421
- Latitude
- 29.907373671549
