|Price/Rent PSF||$ 28,595,000.00|
|SQ. FT. Available||263,421|
La Marque is recognized as the hub of Galveston County and a desirable, progressive and business-friendly community. The City is strategically situated in Galveston County, 15 miles south of Houston and four miles north of Galveston. Houston is the most populous city in the State of Texas and fourth-most populous city in the United States. In addition, Houston has the second most Fortune 500 headquarters of any U.S. municipality within its city limits. As a global city with strengths in business, international trade, entertainment, culture, media, fashion, science, sports, technology, education, medicine, and research, Houston’s MSA is an ideal area to live, work, play, and thrive.
La Marque, considered as part of the greater Houston MSA, is the second-fastest-growing city in Galveston County, boasting 14.3 miles of I-45 frontage, more than any other city in Galveston. Citizens enjoy easy, breezy coastal living, abundant housing options and the security of a hurricane protection levee system. La Marque is a sportsman’s paradise and offers access to world-class medical, travel and entertainment options. La Marque is the Gateway to the Gulf and the Hub of the Mainland, with a budding downtown revitalization, commercial development opportunities are springing up.
Painted Meadows is a 133 Home Build For Rent (BFR) Single Family Rental Investment Portfolio just outside of Houston, TX in La Marque. This community is being Built For Rent by LGI Homes, well known for their superior quality and integrity. La Marque is only 37 miles from Downtown Houston, near the Gulf Coast, and is recognized as the hub of Galveston County. Desirable, progressive and business-friendly, La Marque is the second fastest growing city in the county. Given the proximity to Houston, via Highways I-45, 146, 6 & 3, La Marque has the best transportation corridor and location in the entire region.
Painted Meadows residents will have access to numerous jobs considering the greater Houston MSA is the 4th largest city in America and home to 25 Fortune 500 companies; many of which are focused on the energy industry, particularly oil and natural gas, as well as biomedical research and aeronautics. La Marque, know as the gateway to the Gulf, is poised for strong job growth moving forward with their low cost of living, sound infrastructure, access to large labor pool, and proximity to area industry, including, but not limited to, Phillips 66, ConocoPhillips, Halliburton, Waste Management Inc, & NRG Energy. Home price appreciation in this area is forecast to grow by nearly 25% between Q1 2018 to Q1 2023. Painted Meadows 133 Home Build For Rent subdivision is ideally positioned to ensure a viable & sustainable investment.
Painted Meadows offers multiple floor plans ranging from 1,414/SF – 2,593/SF including 3 - 5 bedrooms and 2 - 2.5 bath homes and two car garages. Plans have been optimized for maximum rental yields and these soon to be constructed homes will offer almost no capital expenditures for several years after occupancy. The vision for this project shows LGI Home’s passion, as Painted Meadows incorporates energy efficient appliances, upgraded cabinets, programmable thermostats, unique in-wall pest control systems, front yard landscaping, and to top it off, a 10-year structural warranty providing superior quality & value to an investor. The community consists of beautiful brick & stone exterior finishes, while the interior finishes are just as impressive with granite counter tops, brushed nickel hardware fixtures, and beautiful wood cabinetry. Rental rates for stabilized year 1 have been very conservatively modeled between $1,650 - $2,060 per month for these beautiful homes. Stabilized Year I Cap Rate of 6.6% & Year I Leveraged IRR of 32.93% has conservatively been modeled, given market rents in the area. An investor should realize significant capital growth in the next few years given the anticipated value growth, projected in La Marque. Pre-Leasing can begin once homes are under construction and builder reaches Certificate of Occupancy. The first phase of homes should be delivered in Q4 2018, the buyer can close escrow and move tenants in, creating an immediate cash flow and return on your investment from day one!