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Stabilized
$985,000
12-Unit Multifamily in Conroe, TX
TX · listed Sep 19, 2026 (39 days)
Price per unit compared
This property$82K
Within ~40 mi (180)$94K
Texas median (1,196)$92K
- $/unit
- $82,083
- ▼ 11% vs TX · 41st pct
- Cap rate
- —
- NOI
- $86K
- $7,162/unit/yr
- Units
- 12
Financials
- Asking price
- $985,000
- Price per unit
- $82,083
- Price per sq ft
- Not stated
- Gross rent / year
- $117,000
- Net operating income
- $85,942
- NOI per unit
- $7,162
- Cap rate
- Not stated
- Gross yield
- 11.9%gross rent ÷ price
- Occupancy
- 100%
As stated by the seller. Verify during due diligence.
Building
- Units
- 12
- Unit mix
- 12 Units | 1 Bed / 1 Bath | ~650 SF Each
- Buildings
- Not stated
- Year built
- Not stated
- Building size
- Not stated
- Avg unit size
- Not stated
- Lot size
- Not stated
- Condition
- Stabilized
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Sep 19, 2026
- Days on market
- 39 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- City only
- Listing #
- 1231
About this property
🔥 12-UNIT MULTIFAMILY OPPORTUNITY — CONROE, TX
📍 (address on request) 💰 Asking Price: $985,000
🏢 12 Units | 1 Bed / 1 Bath | ~650 SF Each 🌳 1 Acre Unrestricted Lot ✅ 100% Occupied 💵 Gross Rent: $9,750/month | $117,000/year 📈 Current NOI: ~$85,942/year 🏠 New Roof — 2026
⭐ Key Highlights
- Low-maintenance, self-managed property
- All units currently occupied
- On-site laundry with potential for additional income
- Tenants pay their own electricity
- Private well + MUD connection opportunity
- Automatic electric gate
- Front building recently painted + 5 units freshly painted
- Leases have various expiration dates, providing future rent-review opportunities
🏦 Financing
Existing mortgage: ~$515K balance Current PITI: ~$5,670/month Seller indicated subject-to may be considered, subject to lender/title/seller requirements.
🔥 Established rental income + 12 occupied units + new roof + multiple upside opportunities.
📲 WhatsApp: 📧 Email: []
Location
Somewhere in Conroe. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
| Conroe, TX Stabilized | $985K | $82K$82K | 11.9%gy |
| Conroe, TX | $985K | $82K$82K | — |
| Conroe, TX New construction | $1.99M | $199K$199K | — |
| Conroe, TX Stabilized | $850K | $71K$71K | — |
| Conroe, TX Stabilized | $950K | $79K$79K | — |
| Conroe, TX New | $3.3M | $110K$110K | — |