14010 Longstreet Rd, Willis, TX 77318

There are three complete homes inside this one building, and none of them has ever been lived in. That is the simplest way to describe what is for sale at 14010 Longstreet Road, and it is also what makes it worth a look. This is not a house with a garage apartment behind it, or a duplex carved out of something older. It is a purpose-built triplex, finished this year, in a gated community a short walk from Lake Conroe, and all three residences are sitting empty waiting on whoever moves in or signs a lease first. Each one is a two-story townhome with three bedrooms, two and a half baths and roughly 1,366 square feet, which comes to 4,098 square feet across the building. The main floor is open, so the kitchen, dining and living space read as a single room, finished with granite counters, a full appliance package that includes the refrigerator, and vinyl plank flooring that will hold up to tenants. The bedrooms are upstairs and carpeted, with the primary running twelve by twelve and the other two at ten by ten. Every residence has its own attached garage with an opener, two more parking spaces on the driveway, a fenced back yard, and porches front and back. Ceiling fans throughout, central electric heat and air, digital programmable thermostats, brick and stucco and wood outside under a composition roof, and a gate at the driveway entrance. The financial case is straightforward. Rents in this submarket run between $1,900 and $2,000 a unit, confirmed by a Houston Realtors broker CMA in the first quarter of this year, so a full building brings in pro forma gross income of $5,850+ a month. Year one net operating income comes to about $47,581, which is a cap rate above 6% at this asking price, and the association fee of $285 a month for the whole building covers garbage service, insurance and the community amenities. Because nothing has been rented yet, there are no inherited leases or under-market tenants to work around, and the rent roll starts wherever today's market says it should. If you want to live here, the math is friendly. Take one residence for yourself and the other two bring in somewhere between $3,800 and $4,000 a month toward your mortgage. Owner-occupied multifamily also opens up financing that pure investment property does not, so conventional, FHA, VA and USDA are all worth raising with your lender. If living here is not the plan, lease all three and you own a small portfolio that took one closing instead of three. A few other buildings in the community are available if the first one goes the way you hope. As for the setting, Lake Conroe sits about nine tenths of a mile away, 22,000 acres of water with 157 miles of shoreline, with the public boat ramp at the near end. I-45 is seven minutes from the driveway, Bush Intercontinental about forty minutes, and downtown Houston roughly fifty. The new Willis ISD high school went up a hundred yards or so from the property, and H-E-B is building at FM 1097 and I-45. Everything is new, nothing has been used, and it can close quickly. There is a 3D tour and a walkthrough video if you would rather see the inside before driving out, and a full pro forma with rent comps for anyone running the numbers seriously. Call or text 469-275-8204 and we can arrange a showing. Buyer's agents are welcome.