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407 W Semands St 6 Unit Apartment Building $1,250,000 ($208,333/Unit) 6.57% Cap Rate Conroe, TX 77301
Investment Highlights
- Close to downtown Conroe
- Quality updated/renovated
Executive Summary
Amazing Investment Opportunity in the Heart of Conroe! NEW ROOF 11/2025 Don’t miss this rare chance to own two well-maintained multi-unit buildings — one with 2 units and the other with 4 units — ideally situated near shopping, dining, and major roadways. Each spacious unit features 2 bedrooms and 2.5 bathrooms, covered parking for 2 vehicles, and in-unit laundry for tenant convenience. Every unit has been beautifully renovated with quartz or granite countertops, stainless steel appliances, full-size refrigerators, and updated bathrooms. Bedrooms include walk-in closets, and each unit offers a private fenced patio perfect for outdoor enjoyment. The buildings are also wired with electronic security systems for added peace of mind. With modern finishes, thoughtful upgrades, and a prime location, this property provides strong rental demand and excellent return potential — a turnkey, tenant-ready investment opportunity you won’t want to miss!
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,250,000 | Building Class | C |
| Price Per Unit | $208,333 | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 7,200 SF |
| Cap Rate | 6.57% | No. Stories | 2 |
| No. Units | 6 | Year Built | 1967 |
| Property Type | Multifamily | Parking Ratio | 0.28/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Townhome | ||
| Zoning | 1 | ||
| Price | $1,250,000 |
| Price Per Unit | $208,333 |
| Sale Type | Investment |
| Cap Rate | 6.57% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 7,200 SF |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 0.28/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | 1 |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Dining Room
- Family Room
- Patio
- Large Bedrooms
- Quartz Countertops
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 6 | $1,550 | 1,360 |
1 1
Walk Score®
Very Walkable (76)
Property Taxes
| Parcel Number | 7920-00-05000 | Total Assessment | $400,000 (2025) |
| Land Assessment | $15,000 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $385,000 (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
7920-00-05000
Land Assessment
$15,000 (2025)
Improvements Assessment
$385,000 (2025)
Total Assessment
$400,000 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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407 W Semands St
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