Multi-Housing

Amber Pines at Fosters Ridge

9811 Laurel Lake Dr Conroe, Texas United States 77384-2201
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 2020
Building Area
Number of units 124

Property Description

Amber Pines is a purpose-built, single-family rental community strategically located north of The Woodlands, Texas, a barriers-to-entry housing market, and zoned to top-rated schools inside The Woodlands. The Woodlands is Houston’s most desirable residential address outside the urban core and its best-performing suburban commercial real estate market. 


Amber Pines was developed by D.R. Horton, the largest volume builder in the United States since 2002, as part of its Fosters Ridge residential development. Amber Pines offers investors a high-quality product built by an industry leader, perfectly positioned with supporting demographics for long-term growth, in one of the most in-demand, emerging commercial real estate sectors. It is available on an All Cash basis​.

Investment Highlights

  • Recently-completed construction with rapid lease-up, averaging 15 move-ins per month since April
  • Currently 96% leased and 87% occupied
  • 124 3B and 4B homes with an average home size of 1,578 square feet
  • All homes include 9’ ceilings, stainless steel appliances, full-size washer/dryers, private backyards with covered patios, and two-car attached garages
  • Residents have access to Fosters Ridge community clubhouse, swimming pool, and children’s playground
  • Potential to increase rents on second-generation leases and to add other sources of revenue
  • $1,375/month rent gap with homes to rent in The Woodlands
  • Significant premium to own in Fosters Ridge (+$324/month) and in The Woodlands (+$3,675/month)
  • Average household income of $139,783 within one-mile radius compared to $83,777 in Houston
  • 4.1% annual population growth rate projected over the next five years within one-mile radius compared to 1.4% in Houston
Last Updated Date: 23 Sep 2020
Chris Curry
Chris Curry
Senior Managing Director, Capital Markets
License details
TX-0566750
Matthew Putterman
Matthew Putterman
Senior Director, Capital Markets
License details
TX-598192

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Last Updated Date: 23 Sep 2020

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