207 N 10th St 44,345 SF Specialty Building Offered at $2,500,000 at a 11.25% Cap Rate in Gatesville, TX 76528

Located throughout Gatesville in Central Texas, the 49 home portfolio belongs to the Killen-Temple-Fort Hood MSA, also known as the Centroplex. With a cost of living that is 20% lower than the national average along with a cost of housing 43% lower than the national average, Gatesville is the best option for residents seeking affordable living in the Killen-Temple-Fort Hood MSA. On average, residents who rent houses in Gatesville pay $722, a value that is 17% lower than the average amount renters pay in Texas. Additionally, the number of rental households is 11% higher than the state average. The average home in Gatesville costs $85,100, a value that is 67% higher than the Imperial SFR Portfolio but still 35% lower than the average cost in Texas. However with an average year-over-year appreciation rate of 9.05% the average home value is expected to rise.
This diverse portfolio represents a strong mix consisting of 49 total properties. It features 35 Single Family Rental homes, 3 Full Duplexes and 1 Eight Unit Apartment with
an average size of 905 square feet. 20 of the 35 Single Family homes are currently vacant and under renovation that will allow a new owner to lease up to current market
rents and improve operations thru hands on property management. A list price of $2,459,375 for the entire portfolio or $50,191 per unit/home, provides investors an opportunity to purchase a high yield, value-add SFR portfolio at $55.49 per SF which is below replacement cost and approximately 67% below retail values. With the
low cost of living, the growing economic performance of the Killen-Temple-Fort Hood metro area, and the investor' s ability to increase rents makes this a scalable, affordable and diversified addition to any residential rental portfolio.