*** July 2022 Update: The first 10 duplexes in Phase 2 are now Sold Out! The Builder has just released the next batch of 10 duplexes in Phase 2, priced at $510,000.
Value Builders released a batch of 10 new construction duplex Houston TX for Phase 2 of the Dobbin Meadows project for purchase on March 22. These investment opportunities were first offered to buyers that had gotten pre-approved and entered their name on the waitlist for this phase over the second half of 2021.
Three weeks into the selling process and here’s the current availability: 8 of the available 10 new construction duplexes Houston TX are now under contract with just 2 duplexes available.
Dobbin Meadows New Construction Texas Duplex Project: Phase 2
Phase 2 consists of 40 duplexes in total and it will be released for sale in batches of 10 investment duplexes at a time. The current batch of duplexes is priced at $499,900 and rents are projected to be $1895/side.
In Phase 1, each subsequent batch had a price increase. Construction is estimated to begin in May with construction time estimated to take 6-7 months.
Project Summary
This project is located in Magnolia Texas in Montgomery county and it is zoned to Magnolia ISD schools and it is next to a DR Horton neighborhood called The Enclave at Dobbin. Exxon Mobil headquarters and soon-to-be Hewlett Packard headquarters are a short 20 minute drive away. Within a short drive, residents can take advantage of world class hospitals, retail and dining in the Woodlands.
The Magnolia TX area has experienced tremendous population growth over the last 10 years growing by over 50% during that time. In addition, the Houston area ranks second in the nation for corporate relocations (incoming) and expansion projects which means the area benefits from strong Tenant demand and solid rental market.
One unique feature of this project is that these duplexes are built as attached townhomes which offers the special opportunity to sell each side individually in the future thus increasing the total exit price. And you can do all this while still obtaining just one loan to acquire both units like a duplex.
The Builder is offering their top selling and leasing duplex floor plan in this project
- The Fairhaven is a 1-story 2662 sf, 3 bedroom 2 bath 2 car garage on each side, brick and stone exterior
Both will have fenced-in backyards, premium LVT plank flooring throughout the main areas and the bathrooms, granite/quartz counters in kitchen, stainless appliances, carpet in the bedrooms and hallway.
Purchase prices
- Plan 2662 duplex = ~$499,900+
Projected Rents
- Plan 2662 duplex = $1895/side
Leasing
The first part of Phase 1 has been successfully leased at $1795/door during off peak leasing season. New units that are getting completed now are priced and leasing at $1855/door and the last 10 duplexes of Phase 1 are projected to be leased at $1895/door.
Property Management
Professional property management is in place at a favorable rate of 5% of gross rents per year. Buyer is required to use the available property management for the first year. After that, they can choose to stay with the current management company, switch management companies or self manage.
Completion is estimated November/December 2022.
New Construction Duplex Houston TX Photos
New Construction Duplex Houston TX Financials
| Dobbin Meadows Plan 2662 Duplex | |
| 6 Bedrooms 4 Baths 4 Garage | Year Built: 2022 |
| School District: Magnolia ISD | Size: 2662 SF |
| Property Type: Duplex | Market: Houston |
| Price/SF: $ 188 | Rent/SF: $ 1.42 |
| Purchase Price | $499,900 |
| Down Payment | $149,970 |
| Closing Costs | $7,500 |
| Investment Capital | $157,470 |
| monthly | |
| Projected Rent | $3,790 |
| Vacancy | $114 |
| Property Taxes | $1,158 |
| Insurance | $67 |
| HOA, Maintenance, Repairs | $153 |
| Property Management & Leasing | $257 |
| Total Operating Expenses | $1,749 |
| Net Operating Income | $2,041 |
| Mortgage Payment @ 5.5% – 30% Down | $1,987 |
| Monthly Cashflow | $54 |
| Principal Paydown | $392 |
| Appreciation Return (conservative 5% growth) | $2,082 |
| Annual Depreciation Tax Deduction | $15,454 |
| 5-Year Annual Rate of Return (IRR) | 12% |
Next Steps
If you to move forward and invest in a new construction duplex Houston TX in Dobbin Meadows I need the following:
- Selected lots (or start number)
- All Buyer(s) name(s), email(s)
- Real estate agent information, brokerage information and license number (if applicable)
- Pre-approval letter or proof of funds if cash
My team will prepare the contract and send it out via Docusign to everyone. Once the contract is signed earnest money is $5000 and option fee is $250 for 10 days.
Are there still lots left?
Hi Alyssa – The first 10 duplexes in Phase 2 are now sold out! I just got another batch of 10 to sell and they are priced at $510,000. Call me at 713-922-2702 if you have any further questions.