Log In/Sign Up
Your email has been sent.
Corsicana Texas SFR Rental Portfolio 3844 Skylane Ave 17 Unit Apartment Building $5,465,160 CAD ($321,480 CAD/Unit) 6.60% Cap Rate Corsicana, TX 75110
Investment Highlights
- Corsicana has expanding industry and jobs but an unfulfilled housing shortage
- Three Floor Plans, all one story, all 3/2/2, 1401-1500 SF of GLA, leased at $1.47-$1.50/sf
- Contact Wayne.Burgdorf@svn.com for PDF marketing brochure with full details
- Portfolio has 17 SFR Detached Houses Built in 2023 on 70' lots
- Actual and Proforma Income & Expenses Render a Cap Rate of 6.6% and a GRM of 109
- SELLER WILL CONSIDER SMALLER PACKAGE SALES-ASK FOR UPDATE
Executive Summary
The Portfolio is located in Corsicana, Texas, county seat of Navarro County about 50 miles SE of Dallas along IH-45. Corsicana has done a great job of expanding industry and employment and has a severe housing shortage per a 2017 city housing study that has not been fulfilled. The properties are part of a 280-acre master planned development in West Corsicana with commercial sites, an apartment site, and single family land/lots. The houses were built in 2023 and leasing starting during construction. All are one story, 3/2/2 floor plans with 1401-1500 SF of living area and good features. The houses are stabilized with a pro-forma cap rate of 6.6% and a GRM of 109, with pricing at $235K per house on 17 houses. Given construction costs are already rising, and will go up more if Tariffs kick in, this is an investors last chance to buy at affordable prices.
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer Hookup
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- Refrigerator
- Sprinkler System
- Stainless Steel Appliances
- Range
- Double Pane Windows
- Family Room
Site Amenities
- 24 Hour Access
- Controlled Access
- Recycling
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2 | 17 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 116474 | Improvements Assessment | $0 CAD |
| Land Assessment | $129,235 CAD | Total Assessment | $101,845 CAD |
Property Taxes
Parcel Number
116474
Land Assessment
$129,235 CAD
Improvements Assessment
$0 CAD
Total Assessment
$101,845 CAD
1 of 2
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Corsicana Texas SFR Rental Portfolio | 3844 Skylane Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.