5311 2Nd StCrosby, TX 77532

Property Details for 5311 2Nd St

Year built

1953

Property size (Sq ft)

2,609 SF

Property type

Residential income homes

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.

Location Insight

City

Crosby

County

Harris

State

Texas

Latitude

29.9074

Longitude

-95.0626

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