57 Home BFR Investment Portfolio Houston TX
57 Home BFR Investment Portfolio , Houston, Texas 77407
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This Build for Rent (BFR) portfolio opportunity allows a buyer to acquire new 57+/- homes spread around fifteen subdivisions throughout metro-Houston, Texas. A buyer can select the homes that best meet their investment criteria, whether by location home size, or return projections. The homes have been built or are in the final stages of construction by Meritage Homes. Known for quality and well-designed homes and communities, this portfolio allows a buyer to acquire a group of homes and not worry about capital expenditures for a number of years. It also allows the buyer to not worry about over saturation of rentals in a single community because the homes are spread across the area in fifteen communities.
All of the homes in this portfolio are being built to for-sale standards and quality and include the standard Meritage Home Warranty. They are also being built to high energy-efficiency standards providing tenants an incentive to pay higher rent. The homes are Energy Star© certified and have high-efficiency air conditioners. Many of the homes also include M.Connected Home™ Automation Suite.
This Meritage new home BFR portfolio includes a mix of homes of assorted sizes and number of bedrooms. Although the portfolio as a whole offers good returns, a buyer can select a subset of homes that best suit their investment criteria. The asking price on the total portfolio is just under $22,000,000, an average of $380,977 per home. The asking price averages $131 per square foot with an average projected per month rent of $2,704.
Houston is one of the largest cities in the country, it also is the fastest growing city across the United States. According to the US Census, Houston has an estimated 2017 population of 2.3 million, a 10.4% increase since 2010. As Houston is incredibly large and business-friendly, people with an entrepreneurial spirit are attracted to the city. Houston homes multiple large economical giants such as the oil and gas industries, as well as manufacturing and health care. Houston is home to a thriving business economy that has rapidly diversified from its strong energy base. This economic diversification includes growth in high-technology industries, medical research, health care, and professional services. Houston is home to many businesses including corporate headquarters for almost two dozen of the Fortune 500 companies. Houston is also well-known for being home to NASA’s Space Center. A study in 2016 reported that the Space Center Houston has a $73 million annual economic impact on the greater Houston area, generating jobs and millions of dollars in personal income.
Just as the city is diverse in economic variables, the food and people are just as distinct. As per U.S. News ranking, Houston was placed at #26 in Best Places to Live and #26 in Best Places to Retire. The overall education level of Houston citizens is higher than the typical US community, as 31.15% of adults in Houston have at least a bachelor's degree, and the average American community has 21.84%. The median household income of a Houston family is about $45,728 according to BestPlaces.net. Dining is considered a pastime in the region as there are over 11,000 restaurants ranging from award-winning establishments to small mom-and-pop international restaurants.
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- Stabilized Year 1 Gross Yield of 8.34%
- Stabilized Year 1 Cap Rate of 5.03%
- Strong 20.59% Stabilized Year 1 Leveraged IRR
- 57 +/- Single Family Home Build for Rent Investment Portfolio
- Homes are spread through fifteen communities in Metro-Houston, Texas
- Seller is Meritage Homes
- Homes come with a new home warranty
- Homes are built to high energy-efficiency
- Buyer can select the homes that most meet their investment criteria (five or more homes)
- Houston MSA had a 2016 GDP of $478.6 Billion, the sixth largest U.S. metro economy
- MSA per capita personal income of $51,913
- Estimated population July 2017 the Houston MSA was 6,892,427
- Houston MSA has 21 Fortune 500 and 44 Fortune 1000 Corporate Headquarters in 2018
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