100392 . 17 Home SFR Houston-Dallas TX
100392 . 17 Home SFR Houston-Dallas TX, Houston Dallas MSA, Texas 77459
This 17 home portfolio offers immediate cash flow with a 100% occupancy rate and containing only fully background-checked tenants. Being offered by a large SFR aggregator, this portfolio is one of multiple portfolios being sold by the seller. It is fully ‘cherry-pickable’, and can be packaged with properties from the additional portfolios to create a customized portfolio unique to your investment criteria and target markets. According to research by RENTCafe, a rental market analysis website, four of the 20 fastest-growing suburbs for renters nationwide are in North Texas.
This investment portfolio of homes are parceled around 2 popular metros, Dallas and Houston. The homes in this portfolio are currently achieving close to market rents with the average of $2,101 per door, and provides the investor the opportunity to raise these rents to full market rates, which is an average of $2,307 for this group of properties. With a 9.8% increase in rents to this portfolio, the new owner will be operating at full projected rates. The mix of floorplans is predominantly made up of four-bedroom plans, but additionally offers 3, three-bedroom homes, as well as 3, five-bedroom homes. The average vintage of the homes is 1999, and all homes went through a remodel in 2013. The average dwelling square-footage of this portfolio is a large 3165 SF per home.
The Houston real estate market has become a popular focal point for investors, including a plethora of overseas investors. With the strong combination of a stable economy, low unemployment rates and lack of inventory supply, investors are flocking to put their money into this market before home prices begin to gain traction and rise.
Additionally, the Dallas MSA ranks #3 hottest rental markets, according to RENTCafe, as a 115% renter population increase. Over the years many companies from L.A. & San Francisco have been relocating to Dallas for a number of reasons, i.e., a business friendly environment, lower taxes, & fewer regulations. As companies relocate rental demand continues to push upward.
The median list price per square foot in the Houston-Woodlands-Sugar Land Metro averages $121 and with the home values up 7.2% over the past year and their Houston real estate market prediction is that they will rise 3.4% within the next year.
Over the last decade, Houston real estate appreciated 52.91%, which averages out to an annual home appreciation rate of 4.34%. This gives Houston a spot in the top 10% of markets nationally for real estate appreciation, according to NeighborhoodScout’s data.
Employment in the Houston-The Woodlands-Sugar Land MSA grew by 86,200 jobs, reaching a 2.8% increase from a year earlier, as reported on May 2019 by the U.S. Bureau of Labor Statistics. This is a whole percent higher than the national job count increase of 1.8%. This ranks Houston third in both the number of jobs added over the year and the annual job growth rate, among the 12 largest metropolitan areas in the country.
The Dallas-Fort Worth metro area is the fourth largest metro area with 7,233,323 residents and has experienced incredible job growth, with an average of 95,000 new jobs added annually. According to the U.S. Census Bureau, the metro made up 2.3% of the nation’s population in 2018. From 2010 to 2018, the area experienced a job creation increase of 24%. The city of Dallas is considered a “beta” global city. The economy is diverse with major sectors including financial services, information technology, telecommunications, and transportation.
The area’s economic sectors continue to flourish as many reputable companies have relocated or currently have headquarters in the Dallas metro, resulting in numerous job openings. These major companies have all opened headquarters in the last two years, Toyota, J.P. Morgan, Liberty Mutual, and State Farm. As of September 2017, over 40 firms have announced relocations or expansions within the Dallas-Fort Worth metro area. Many companies and Americans alike are making the decisions to expand or relocate to Dallas for the favorable business environment, no income tax, and the lower cost of living.
Dallas developed as a strong industrial and financial center with a major inland port due to the convergence of major railroad lines, interstate highways and the development of one of the largest and busiest airports in the world, the Dallas/Fort Worth International Airport. The top five publicly traded companies include AT&T, Energy Transfer Equity, Tenet, Healthcare, Southwest Airlines, and Texas Instruments, according to the Dallas Morning News.
- Houston is a hot MSA for investors being in the top 10% nationally for real estate appreciation
- Dallas MSA ranks #3 hottest rental markets, according to RENTCafe
- 100% occupancy rate of only fully background-checked tenants
- Opportunity to increase rents 9.8% to current market rates
- Predominantly 4 bedroom homes, a highly demanded floor plan for renters
- All homes completely remodeled and updated in 2013
- Low price per square foot relative to Houston’s average home price
- Houston ranks 3rd in annual job growth out of nations top 12 largest MSAs
9/4/2019 5:42:41 PM
9/10/2019 6:56:28 PM