Houston Income Properties, Inc. 2635 Tim St., Houston, TX 77093 

Phone: 713.783.6262
License #0393404 | hipapt.com 84 UNITS IN 60 BUILDINGS 
 Houston Income Properties, Inc.
Phone: 713.783.6262
License #0393404 | hipapt.com

EXCLUSIVE OFFERING: La Casita Homes and Duplexes | 2635 Tim St. | Houston, TX 77093
LISTING BROKER: Houston Income Properties, Inc. | 713.783.6262 | Peter Huang - Sr. Sales Associate - Agent
Offer Date: To Be Determined
Offering Process: The Property is being offered on an "All Cash" basis to qualified purchasers.
Offer Guidelines: Offers should be presented in the form of a non-binding Letter-of-Intent and must
include at least:
·Offer Price
·Earnest Money Deposit Amount
·Feasibility Period
·Closing Date
·Description of Equity Source
·Other terms and conditions particular to the buyer’s investment process

Site Visits: All Site Visits are to be set up through the Listing Broker. All requests for additional
information are to be made through the broker—713-783-6262

Disclaimer: The offering is subject to the Disclaimer contained herein.

Houston Income Properties, Inc. 3201 Garth, Baytown, TX

Principals and their
Phone: representatives shall please refrain from contacting any onsite personnel or residents.
713.783.6262
License #0393404 | hipapt.com 56 Unit Luxury Apartment Community
Table of Contents

04
OFFERING
10
FINANCIAL
14
PROPERTY
24
MARKET
30
LOCATION
46
LEGAL
OVERVIEW ANALYSIS OVERVIEW OVERVIEW OVERVIEW
 Offering Overview
La Casita Homes - Page 4 of 48
 Offering Summary
PROPERTY DESCRIPTION INVESTMENT PROFILE
Name: La Casita Homes and Duplexes Type of Sale: "All Cash" - Buyer to acquire a new Loan
Address: 2635 Tim St. ASKING PRICE: No Official Asking Price
City / State: Houston, Texas 77093 Current NOI: $425,084 For Current and Projected NOI see analysis in
PLEASE DO NOT VISIT THE PROPERTY WITHOUT Projected NOI: $489,126 the financial section
MAKING AN APPOINTMENT THROUGH THE
BROKER.

Property Type: Single Story Homes and Duplexes Current Occupancy: 95% Per the 9-3-2019 RR
No. of Buildings: 60 Utility Rebill: None
Year Built / Rehab 1964 / 2017-19 Primary Market Area: Houston
Materials: Brick and Siding Sub-Market Area: North Loop East
Number of Units: 84 Scheduled Market Rent: $68,920 / Mth
Total Rentable SF: 64,600 Avg. Rent / Unit: $820
Avg. Unit Size: 769 S.F. Avg. Rent / SF: $1.07

INVESTMENT HIGHLIGHTS:
1) A small 84 unit home and duplex community that is 95% occupied and is maintaining a high occupancy post recent interior upgrades. It is conveniently located
approximately 2 and a half miles outside Loop 610 N. The La Casita Home and Duplex Community is located less than a mile from grocery retailers, shopping
centers and restaurants. The immediate area has a diverse population with a major Hispanic influence. La Casita Homes was constructed in 1964 and the owner has
renovated the majority of the units and has completed some exterior improvements. The interior improvements include; painting, new cabinetry, updates to the bathrooms and
kitchens, new flooring and new appliances. Some of the exterior improvements performed include; some improvements to drainage, some brick and concrete replacement,
some breaker box replacement, some wall painting and some roof replacement / repair.
2) Located near major employment centers in Houston with ease of access to the many businesses up and down the I-45 corridor as well as Beltway 8, Hardy
Toll Rd, Hwy-59 and Loop 610 N. The Pinto Business Park, a 971 acre industrial park that has become home to more than 4 million square feet of industrial and
logistics users since 2013, is less than 7 miles from the property. The park is the new home of the Amazon Distribution Center as well as many other major
employers such as Sysco, Grocers Supply, Alfa Laval, Cambria, Red Bull and many others. Downtown Houston is approximately 6 miles southwest of the
property and the Metro Red Line (train) is only 2.3 miles southwest and commutes to Downtown and the University of Houston.
3) The property is individually metered for Electricity and master metered for Gas and Water. Each unit has its own gas hot water heater.
4) There seems to be upside in the rents with further improvements to the interiors of the units and to the exterior of the property. There is no RUBS in place
for Water or Gas, a new owner may find additional income by implementing a RUBS for both Water and Gas.

HIP / NAA - Page 5 of 48

Property Information
PRICING INFORMATION PROPERTY INFORMATION
Units: 84
UNIT MIX - CURRENT MARKET RENTS (please verify)
No Official Asking Price Avg. Size Unit: 769 S.F. UNIT TOTAL RENT / TOTAL RENT
#UNITS NOTES SQ. FT.
Year Built (Per CAD): 1964 / 2017-19 TYPE SQ. FT. UNIT RENT PER SF
Electric & Gas Mtr: Individual 1 EFF Storage 600 600 $680 $680 $1.13
Please do not visit the property without
Roof: Pitched 48 2-1 Duplex 750 36,000 $780 $37,440 $1.04
an appointment made through the broker!
Land (Acres) Per Survey: 4.1346 35 2-1 House 800 28,000 $880 $30,800 $1.10
Rentable Sq. Ft: 64,600
Estimated Total Collections ~ (Occupancy is {95%} as of 9-3-2019 Rent Roll)
Mth. Aug 19 - T-3 Avg Aug-2019 Jul-2019 Jun-2019 May-2019
Coll. $62,110 $61,835 $63,210 $61,286 $62,978

84 95% 769 64,600 $820 $68,920 $1.07

TOTAL AVG. TOTAL SQ. AVG. AVG.
UNITS Occupancy SQ. FT. RENT/U TOTAL RENT RENT/SF
FT.

UNIT MIX STATS

57%
57%

By Unit Type By Sq. Ft.

1% 1%
42% 42%

1-1 2-1 Duplex 2-1 Home 600 750 800

La Casita Homes - Page 6 of 48

 Property Information
PROPERTY TAX PROPERTY HIGHLIGHTS
HCAD# 0470430000020 1.) Property is being offered on "All Cash" - buyer to acquire new loan
Taxing Entity | Rate/$100 of Value 2.) Upside potential with continued interior and exterior upgrades
Houston ISD 1.2067 3.) There is no Utility Rebill in place - a new owner could charge back Water, Trash and
Harris County 0.62362 Gas for additional Income.
Port of Houston 0.01155 4.) Major employers in Houston are within a few miles of the property
Houston Comm College 0.100263 5.) The location of La Casita puts it within minutes of IH-59, Hardy Toll Rd, 610 N Loop,
City of Houston 0.58831 Tidwell Rd, I-45, Aldine Westfield, Jensen Dr., all of which are major transportation
NRTHSD Mgmt Dist. 0 arteries in the area.
2018 Tax Rate 2.530443 6.) The property is within walking distance of primary and secondary schools. In addition it
2019 Assmt. $2,965,854 is a short commute (2.3 miles) to the Metro Red Line (mass transit train traveling to
Approx. Total Tax $75,049 7.) The property is a duplex and single home community. Most duplex and home
communities retain higher than average occupancies and rents when compared with the
CONSTRUCTION FEATURES same age/condition Garden Style apartment communities.
Yr. Built / Rehab Date: 1964 / 2017-19
Electric Meter: Individual Meter - Tenant Pays
Utility Bill Back: None
Gas & Water Meter: Master Metered
A/C / Heat Type: Window Units for Duplexes - Central HVAC for Homes
Hot Water: Individual Gas Hot Water Heaters
Roof: Pitched
Paving: Asphaltic Concrete
Exterior Construction: Brick and Siding
No. of Total Buildings: 60
# of Stories: Single Story Homes and Duplexes
Units / Acre: 20
Parking: 154 Open Spaces Total , (Homes have two spaces each or 70 total included in rent), (8 reserved spaces for $30/mth Duplex or Home)
(Duplexes include one space each = 48 spaces, with 12 additional spaces for 2nd car available at $10 extra/month) (12 visitor spots and 4 office spots)

HIP - Page 7 of 48
Location Map

La Casita Homes - Page 8 of 48

HIP - Page 9 of 48
 Financial Analysis
La Casita Homes - Page 10 of 48
 Actual and Pro Forma Analysis
ASKING PRICE INCOME (See Details on the left) ACTUAL STABILIZED PRO FORMA
Gross Scheduled Rent is {Current Rent} Annualized + {5%} Incr. N/A $868,392 $72,366 / Mo

MARKET TO DETERMINE THE PRICE (Loss)/Gain to Lease - Pro Forma Estimated at {1%} of GSR N/A (8,684) 1%
Estimated Annual Gross Potential Rental Income N/A 859,708 99%

Vacancy Loss - Pro Forma Estimated at {5%} of GSR N/A ($43,420) 5%

INCOME DETAILS Non-Revenue Units - Pro Forma is Estimated at {1%} GSR N/A (8,684) 1.00%
Current Scheduled Rents (CSR) as of 9-26-2019 Other Losses - Pro Forma is Estimated at {1%} GSR N/A (8,684) 1.00%
$68,920 / Mo $820 / Unit $1.07 / S.F. Total Annual Rental Income 798,921 {92%} of GSR

Actual Income Used Aug 19 - T-3 Avg $62,110 Total Other Income - Pro Forma includes bill back for water, gas and trash expense 46,200 $550 / Unit / Yr
Actual Income Used "Annualized" $745,324
Total Gross Annual Income 745,324 $62,110 / Mo 845,121 $70,427 / Mo
Leased Occupancy Per the 9-3-2019 RR 95%
Pro forma Scheduled Rents include a {5%} Rent Increase
$72,366 / Mo $862 / Unit $1.12 / S.F. EXPENSES (See Details on the Left) Per Seller's Aug T-8 with Budget STABILIZED PRO FORMA
Pro Forma Rents are Post Upgrades and Stabilization Fixed Expenses
Property Taxes (See Details on the left) $75,049 $893 per Unit $101,218 $1,205 per Unit
PROPERTY TAX DETAILS Franchise Tax $0 $ per Unit $0 $ per Unit
2018 Tax Rate Actual 2.530443% Property Insurance 30,000 $357 per Unit 30,000 $357 per Unit
2019 Assmt. Actual $2,965,854 Total Fixed Expenses 105,049 $1,251 per Unit 131,218 $1,562 per Unit
Pro forma Rate Used 2018 Tax Rate 2.530443%
Pro Forma Estimated Post Sale Assmt. $4,000,000 Utility Costs
Post Sale Assmt. is the 2019 Assmt increased by {35%} Electric 6,305 $75 per Unit 6,305 $75 per Unit
Water & Sewer 29,242 $348 per Unit 29,242 $348 per Unit
EXPENSE, INSURANCE AND RESERVE DETAILS Gas 25,495 $304 per Unit 25,495 $304 per Unit
Actual Expense Column is Owner's Actual Jan-Aug 2019 with estimated Other 0 $ per Unit 0 $ per Unit
Expenses by the owner for Sept-Dec 2019, except where noted. Total Utility Costs 61,042 $727 per Unit 61,042 $727 per Unit
Est. Ins. / Unit / Yr. Owner's Actual $357
Est. Reserve / Unit / Yr. Existing Loan $0 Other Expenses
Administrative 8,087 $96 per Unit 6,300 $75 per Unit
PROPERTY DETAILS Other Expenses 0 $ per Unit 0 $ per Unit
Number of Units 84 Marketing & Leasing 0 $ per Unit 1,260 $15 per Unit
Avg. Unit Size 769 S.F. Repairs & Maintenance/Make Ready 19,287 $230 per Unit 29,400 $350 per Unit
Net Rentable Area 64,600 Payroll + Burden 114,583 $1,364 per Unit 114,583 $1,364 per Unit
Land {Acres} Per HCAD 4.13 Contract Services {Trash} 12,192 $145 per Unit 12,192 $145 per Unit
Units per Acre 20 Management Fees {Owner Managed} 0 0.00% 0 0.00%
Date Built - Per HCAD / Rehab 1964 / 2017-19 Total Other Expenses 154,149 $1,835 per Unit 163,735 $1,949 per Unit
e-Meter Individual Meter - Tenant Pays Reserve for Replacement - Bank Loan 0 $ per Unit 0 $ per Unit
RUBS NONE Total Operating Expenses 320,240 $3,812 per Unit 355,995 $4,238 per Unit

Hot Water Supply Individual Gas Hot Water Heaters

Net Operating Income $425,084 $5,061 per Unit $489,126 $5,823 per Unit
HVAC Window Units for Duplexes - Central HVAC for Homes

HIP - Page 11 of 48
10 Year Cash Flow Analysis
HOUSTON INCOME PROPERTIES, INC.

La Casita Homes and Duplexes

Ten Year Cash Flow Analysis UNITS: 84
SQ. FT: 64,600
Year 1 has a {5%} rent
increase post upgrades AVG UNIT SIZE: 769
and stabilization; see
pro forma on the
previous page

INCOME MONTHLY YEAR 1 YEAR 1 YEAR 2 YEAR 3 YEAR 4 YEAR 5 YEAR 6 YEAR 7 YEAR 8 YEAR 9 YEAR 10

Annual Market Rent Growth Rates Used 5.00% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
Potential Income $72,366 $868,392 $894,443.76 $921,277 $948,915 $977,383 $1,006,704 $1,036,905 $1,068,013 $1,100,053 $1,133,055
Other Income $3,850 $46,200 $47,586 $49,013.58 $50,484 $51,999 $53,558 $55,165 $56,820 $58,525 $60,281

Gross Income $76,216 $914,592 $942,030 $970,291 $999,399 $1,029,381 $1,060,263 $1,092,071 $1,124,833 $1,158,578 $1,193,335
Vacancy / Other Losses ($69,471) ($71,556) ($73,702) ($75,913) ($78,191) ($80,536) ($82,952) ($85,441) ($88,004) ($90,644)
Economic Loss % Includes Bad Debt 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00% 8.00%
EFFECTIVE GROSS INCOME $845,121 $870,474 $896,588 $923,486 $951,191 $979,726 $1,009,118 $1,039,392 $1,070,574 $1,102,691

Annual Operating Expense Growth Rates Used 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
EXPENSES
Operating Expenses ($355,995) ($366,675) ($377,675) ($389,005) ($400,675) ($412,695) ($425,076) ($437,829) ($450,963) ($464,492)
Expenses / Unit $4,238 $4,365 $4,496 $4,631 $4,770 $4,913 $5,060 $5,212 $5,369 $5,530
Reserve for Replacement @ {$0} / Unit $0 $0 $0 $0 $0 $0 $0 $0 $0 $0
TOTAL EXPENSES ($355,995) ($366,675) ($377,675) ($389,005) ($400,675) ($412,695) ($425,076) ($437,829) ($450,963) ($464,492)
Total Expenses / Unit $4,238 $4,365 $4,496 $4,631 $4,770 $4,913 $5,060 $5,212 $5,369 $5,530
NET OPERATING INCOME $489,126 $503,800 $518,914 $534,481 $550,516 $567,031 $584,042 $601,563 $619,610 $638,198

NOI GROWTH RATE 15.1% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0% 3.0%
NOTE: Year One shows the NOI growth rate starting from
the owners Actual NOI column on the previous page.

La Casita Homes - Page 12 of 48

 Value Projection at 60 Months
La Casita Homes and Duplexes
PROPERTY INFORMATION
Number of Units: 84 Approx. NRA: 64,600
Year Built: 1964 / 2017-19 Average Unit Size: 769 S.F.
Roofs: Pitched Proposed Mthly. Mkt. Rent at 60 Mths (5 YRS): $81,449 $970 / Unit $1.26 / S. F.
HVAC System: Window Units for Duplexes - Central HVAC for Homes
This Projection is based on the stabilized year 1
Metering: Electric: Individual
pro forma with a 3% rent and a 3% expense
Gas & Water Master
growth rate for years 2 thru 5 and a RUBS
Hot Water: Individual Gas Hot Water Heaters
Implemented for Gas, Water and Trash
Est. Occupancy at Stabilization: 95%
STABILIZED PRO FORMA
REVENUE AND COLLECTIONS Projected at 60 Months Post Purchase and Income Stabilization
% of Gross Potential Income
Total Gross Rent Potential $977,383 100%
Vacancy/Other Rental Losses (Economic Loss) ($78,191) {8%} of Gross Rent Potential
Estimated Gross Potential Income $899,192 92%
Total Other Income Potential $51,999 $619 / Unit
Estimated Potential Value Based
Total Estimated Gross Annual Income $951,191 on Stabilized NOI of {$550,516}
( at 60 Mths Post Stabilization)
EXPENSES

Total Expenses ~ ( average Unit size is {769 S.F.}) ($400,675) $4,770 / Unit $6.20 / SF Cap Rate Value Generated
7.25% $7,593,318 $90,397/U $117.54/SF
Estimated Stabilized Net Operating Income $550,516 7.50% $7,340,207 $87,383/U $113.63/SF
( at 60 Months Post Stabilization ) 7.75% $7,103,426 $84,565/U $109.96/SF

HIP - Page 13 of 48
 Property Overview
La Casita Homes - Page 14 of 48
 Community Features

Unit Features (Interior appointments may vary in each unit)

 Spacious Kitchen  Accent Wall
 Frost-Free Refrigerator  Textured Walls
 Gas Stove  Mini Blinds
 Window Units for Heat and AC  Individual Gas Hot Water Heaters
 Tile Flooring throughout  Fenced Back Patio
 Shower / Ceramic Tub Combination  Front Porch
 Large Closets  Private Mailbox
 All Units are 2B-1B Duplex or Home

Community Amenities
 Minutes From North Loop 610, IH-45, 1960 & Hardy T. R.  Near Metro Bus Stops
 Convient Access to Northline Commons & Metro Red Line  School Bus Pick-Up
 Convenient Access to Northline Mall  Schools nearby
 Consistently High Occupancy  Free Standing Office, Storage & Laundry
 Clothes Care Center Room
 Cable Available  One Assigned Parking Space per Duplex Unit
 Patio  12 Additional Duplex Parking Spaces for 2nd
 Front Porch Car rented at $10/mth
 Fenced  Homes have Two Parking Spaces each
 Near Public Transportation  Reserved Parking Space for an additional Fee
 Close to Major Employment of $30 (Total of 8 Reserved Spaces)
 Near Shopping and Dining  12 Visitor Parking Spaces and 4 Office Parking
Spaces

HIP - Page 15 of 48
Sample Floor Plans

800 750
S.F. S.F.

La Casita Homes - Page 16 of 48

Property Interior Photos

HIP - Page 17 of 48
Site Plan

La Casita Homes - Page 18 of 48

Location Map

HIP - Page 19 of 48
Property Exterior Photos

La Casita Homes - Page 20 of 48

HIP - Page 21 of 48
Harris County Appraisal District

La Casita Homes - Page 22 of 48

 Flood Map

Disclaimer:
While the floodplain data that is shown on the map is the same, this map is not an official effective FEMA Flood Insurance Rate Map (FIRM).
This map is for informational purposes only. For an official flood zone determination please contact your insurance agent or floodplain administrator.
Please visit the FEMA Map Store at http://msc.fema.gov to create a FIRMette which is an official FEMA FIRM.
HIP - Page 23 of 48
 Market Overview
La Casita Homes - Page 24 of 48
 Primary Market Statistics
APARTMENT MARKET STATISTICS OVERVIEW - SUMMARY
Houston
Sep-2019
Property / Unit Information
A B C D OVERALL
Total # Projects 904 1,128 830 144 3,006
Total # Units 243,754 239,248 150,370 20,934 654,306
Total # Units 0BR 0.20% 1.00% 0.60% 0.00% 1.80%
Total # Units 1BR 17.60% 19.20% 11.50% 1.50% 49.80%
Total # Units 2BR 12.80% 15.20% 10.40% 1.50% 39.90%
Total # Units 3BR 1.90% 2.70% 1.70% 0.30% 6.70%
Total # Units 4BR 0.00% 0.30% 0.10% 0.00% 0.50%
Avg Units per Project 270 212 181 145 218
Avg SF 970 840 824 867 881
Total # Units Under 7,202 N/A N/A N/A 7,202
Total # Units Proposed 7,084 N/A N/A N/A 7,084

Occupancy
A B C D OVERALL
Avg Physical Occupancy 89% 88% 83% 86% 87%

A B C D OVERALL
Avg Market Rent/SF 1.406 1.05 0.921 0.843 1.129
Avg Market Rent/SF 0BR 1.907 1.388 1.205 0.974 1.366
Avg Market Rent/SF 1BR 1.51 1.12 0.978 0.927 1.22
Avg Market Rent/SF 2BR 1.357 0.989 0.883 0.792 1.071
Avg Market Rent/SF 3BR 1.329 0.918 0.849 0.756 1.007
Avg Market Rent/SF 4BR 1.12 0.822 0.902 0.723 0.854
Avg Market Rent/Unit 1357 853.39 742.7 710.94 990.41
Avg Market Rent/Unit 0BR 1106.16 627.75 572.04 436.07 649.27
Avg Market Rent/Unit 1BR 1167.29 764 648.86 626.84 876.22
Avg Market Rent/Unit 2BR 1596.71 960.05 825.11 750.22 1120.2
Avg Market Rent/Unit 3BR 2036.53 1089.42 1027.01 938.07 1333.05
Avg Market Rent/Unit 4BR 1981.79 1115.49 1212.61 941.43 1174.99

HIP - Page 25 of 48
Sub-Market Statistics
APARTMENT MARKET STATISTICS OVERVIEW - SUMMARY
North Loop East
Sep-2019
Property / Unit Information
A B C D OVERALL
Total # Projects N/A 13 15 5 33
Total # Units N/A 2,437 1,678 250 4,365
Total # Units 0BR N/A 4.60% 2.00% N/A 6.60%
Total # Units 1BR N/A 16.60% 9.00% 2.70% 28.20%
Total # Units 2BR N/A 22.50% 19.20% 1.00% 42.80%
Total # Units 3BR N/A 14.10% 3.10% 0.00% 17.20%
Total # Units 4BR N/A 3.90% N/A N/A 3.90%
Avg Units per Project N/A 187 112 50 132
Avg SF N/A 849 784 601 814
Total # Units Under N/A N/A N/A N/A 350
Total # Units Proposed N/A N/A N/A N/A N/A

Occupancy
A B C D OVERALL
Avg Physical Occupancy 92% 91% 93% 96% 93%

A B C D OVERALL
Avg Market Rent/SF N/A 1.10 0.905 1.054 1.019
Avg Market Rent/SF 0BR N/A 2.337 1.795 N/A 2.173
Avg Market Rent/SF 1BR N/A 1.133 1.08 1.167 1.119
Avg Market Rent/SF 2BR N/A 0.95 0.903 0.757 0.924
Avg Market Rent/SF 3BR N/A 0.938 0.85 1.04 0.923
Avg Market Rent/SF 4BR N/A 0.825 N/A N/A 0.825
Avg Market Rent/Unit N/A 847.67 682.29 616.38 773.43
Avg Market Rent/Unit 0BR N/A 551.04 733.96 N/A 606.41
Avg Market Rent/Unit 1BR N/A 746.77 679.23 631.14 714.47
Avg Market Rent/Unit 2BR N/A 872.34 749.52 571.18 809.98
Avg Market Rent/Unit 3BR N/A 939.36 931.87 875 937.91
Avg Market Rent/Unit 4BR N/A 1040.97 N/A N/A 1040.97

La Casita Homes - Page 26 of 48

HIP - Page 27 of 48
Comparative Market Summary
MARKET RENTS
Avg. SF / Avg Rent / Avg Rent /
Project Address Built / Rehab # Units Occupancy
Unit Unit SF
1 Dodson Place 3201 Laura Kopper 1961 / 2017 32 452 $708 $1.57 94%
2 Donovan Village - Duplex 601 W Donovan St 1965 78 820 $878 $1.07 98%
3 North Colonial 80 Lyerly 1965 / 2017 84 793 $918 $1.16 94%
4 Village Park North 8210 Bauman 1967 / 2007 64 790 $873 $1.11 91%
5 Parker Square 10300 Shady Ln 1974 175 841 $960 $1.14 98%
6 Silver Glen 7601 Curry 1972 / 2013 160 835 $1,090 $1.31 99%
Rent Comp Ttls / Average 99 755 $925 $1.22 96%
La Casita Homes and Duplexes 2635 Tim St. 1965 84 769 $820 $1.07 95%

1 2 3

4 5 6

La Casita Homes - Page 28 of 48

 Rent Comparative Map
1

La Casita Homes

HIP - Page 29 of 48
 Location Overview
La Casita Homes - Page 30 of 48
 County Location Map

La Casita Homes ll is located just outside the Houston

city limits in Harris County, which is the 3rd most
populous county in the nation, with more residents than
24 states

Harris
County Map

HIP - Page 31 of 48
Houston MSA Area Map

Greater
Houston Area

La Casita Homes - Page 32 of 48

Houston MSA Facts

HIP - Page 33 of 48
Houston MSA Facts

La Casita Homes - Page 34 of 48


The Houston ‐ The Woodlands and Sugar Land Metropolitan
Statistical Area (Houston MSA) consists of 9 counties:
Austin, Brazoria, Chambers, Fort Bend, Galveston, Harris,
Liberty, Montgomery and Waller. Additional facts about the
Houston region:
• The City of Houston is the nation’s fourth most populous
city with a population of 2.3 million.
• The Houston region ranks fifth among U.S. metropolitan
statistical areas (MSA) with a population of 7 million.
• The Houston MSA has a gross domestic product of $525
billion, fourth largest in the nation.
• The Houston Airport System (HAS) serves 198 domestic
and international destinations with 189 nonstop
destinations.
• The Port of Houston is ranked first in the U.S. in foreign
tonnage and is the largest Gulf Coast container port and the
Houston Business
ADVANCED MANUFACTURING
Houston ranked as the No. 1 City for Manufacturing in the U.S. by Forbes in 2014. Across 6,300 manufacturing
establishments in the region, $80 billion dollars of products are produced annually.
ADVANCED TECHNOLOGIES
Houston’s vibrant technology industry centers on traditional strengths in energy, medicine and aerospace. The
region’s innovation flows from NASA, the Texas Medical Center and three tier one universities including Rice
University, the University of Houston and Texas A&M University. More than 175,850 high‐tech professionals call
Houston home.
ENERGY
The Houston MSA is home to more than 4,800 energy‐related establishments and employs nearly a third of the
nation’s jobs in oil and gas extraction. The local energy industry extends from traditional fossil fuels to alternative
and renewable energy.
HEADQUARTERS & BUSINESS SERVICES
The professional and business services sector thrives in the Houston region and employs nearly 460,000
Houstonians, representing 15.4 percent of all jobs in the region.
LIFE SCIENCES
Houston is the birthplace of nanotechnology and is home to the largest medical complex in the world ‐ the Texas
Medical Center (TMC). Houston has more than 190 life science and biotechnology companies as well as academic
partnerships; 132 cutting edge hospitals and health clinics, and the country’s top research facilities.
TRANSPORTATION & LOGISTICS
Houston is a gateway for trade to Mexico, Canada and the enormous expanding markets of Latin America.
Houston’s geographic advantages and proximity to major metropolitan centers throughout the U.S. Midwest
makes it an ideal venue to set up manufacturing and logistics facilities with fewer supply chain costs.
HIP - Page 35 of 48
Economic Outlook
2019 Economic Outlook for Houston ‐
Diversifying Economy Fuels Demand - Yardi Matrix
Underpinned by favorable demographic trends and steady employment, Houston’s economy has
improved significantly. During the past four years, the metro’s multifamily market has been through a
lot.
Houston gained 82,900 jobs in the 12 months ending in June, of which 17,600 were in professional and
business services. Additions in office-using sectors have prompted improvements in the metro’s slowly
recovering office market. Alight Solutions signed for 180,000 square feet in a new build-to-suit
property in The Woodlands, while the 754,000-square-foot Bank of America Tower opened with an
88% preleasing rate. The construction and manufacturing sectors also gained a combined 25,300 jobs.
Developments underway include Texas Medical Center’s 37-acre expansion, as well as the airport’s
$1.2 billion overhaul. Moreover, about half of the 239 projects under Harris County’s $2.5 billion flood
bond package are underway.
Having gained 82,900 jobs in the 12 months ending in June, Houston was second only to Dallas for job
creation in the state. Moreover, the 2.6% year-over-year increase is 90 basis points above the national
average, making Houston one of the best-performing metros in the country.

More than $5.1 billion in multifamily assets traded last year, a record level. The metro’s rate of
deliveries began its path to moderation in 2018, following two years of intense development activity.
The uptick in completions has put downward pressure on occupancy in stabilized properties, leading to
a drop of 90 basis points year-over-year, to 92.7% as of July. We expect the average Houston rent to
advance 1.9% in 2019.

La Casita Homes - Page 36 of 48

 Nearby Major Employers
Eastex / Jensen Area is a part of northeast Houston outside the 610 North
Loop on both sides of the Eastex Freeway (Hwy 59) and Jensen Drive corridors.
The boundaries for this area are Loop 610 (south), Little York Rd. (north),
Hirsch Rd. (east) & the Hardy Toll Road (west). The many neighborhoods found
in Eastex/Jensen are made up of modest frame homes set in pine forests.
Subdivisions include Huntington Place, Croyden Gardens and Epsom Downs,
which was the site of a horse race track in the 1930s. Jensen was once the
primary highway to east Texas but was replaced by the Eastex Freeway (US Hwy
59). The area is split between Houston, Aldine and North Forest school districts.
Greenspoint/North Houston District (5.8 miles northwest of property)
20 million square feet of office, retail, and industrial properties, More than 3,800
businesses, Over 61,500 employees, Approximately 117,000 residents, 12
square-mile area, Location of Rockstar Energy Bike Park – Houston’s largest bike
park & BMX track (opened August 2019), Boundaries: Hardy Toll Road (east),
Airtex Blvd. (north), Veterans Memorial (west), West Rd. (south), Greenspoint -
more than $400 million in developments, including $100 million in office space
Central Business District (6.0 miles southwest of property)
157,906 employees. 20 Fortune 500 companies; 9 Fortune 500 Companies
Headquarters
51+ million-square-feet in total office space, 3,000+ businesses, More than $9
billion in public and private investments toward achieving downtown’s vision of a
dynamic and vibrant place to live, work, and play, Major employers (number of
employees) include City of Houston (21,409), Chevron Corp. (8,000), JP Morgan
Chase Bank NA (2,700), Deloitte LLP (2,207), Kinder Morgan (1,900),
CenterPoint Energy (1,808), Accenture (1,800), Ernst & Young (1,705),
PricewaterhouseCoopers (1,589), and United Airlines (1,400), George R. Brown
Convention Center over 1.2 million-square-foot
Pinto Business Park (7.0 miles northwest of property)
Located in the heart of Houston’s North & Northwest Submarket, 7,000,000 sf
when fully developed, 971 acres, Largest contiguous tract of land inside Beltway
8, Future site of Coca-Cola Southwest Beverage’s one-million-square-foot
distribution and production plant (opening 2020), Site of Amazon’s 855,000
square-foot North Houston Distribution Center, Major Tenants: Amazon, Sysco,
HD Supply, Emser Tile, The Reynolds Company, Alfa Laval, Cambria, Red Bull

HIP - Page 37 of 48
Area Development
(3.6 miles southwest of the property)
Houston Farmers Market Revitalization ‐ on the project at 2520
Airline Dr., turning the fresh produce marketplace into an even bigger
food destination. The 17.67‐acre site will add around 50,000 sf of
space which will help make room for five to six restaurants and six to
ten counter‐service concepts that will offer diverse, appealing drink
and food options. Upgrades will include improved infrastructure and
sidewalks, air conditioning, shaded open‐air market areas, restrooms,
common seating areas, traffic circulation, and landscaping. With
construction underway, the development will hold its grand‐reopening
either in late 2020 or early 2021.
La Casita Homes - Page 38 of 48
(3.6 miles southwest of the property)
Fulton Station ‐ Lennar is developing a transit‐oriented residential
development just north of downtown Houston across the street from
the METRO Rail Red Line. The new community, which will have 39
town homes in the project, called Fulton Station. Starting at $349,000,
the Fulton Station townhomes will offer private backyards, two‐car
garages and 10‐foot wide driveways. Four, two‐story plans from 1,423
– 1,627 SF feature an island kitchen, loft space and master suite. The
development is located 2.5 miles north of downtown at Fulton Street
and Cavalcade Street. Fulton Station residents also will enjoy a small
park within the gated community.

(4.1 miles southwest of the property)
Avenue Center ‐ A three‐story development, Avenue Center will
feature approximately 30,500 square feet of community programming
space including a homeownership center, a health clinic, an early
childhood education center and Avenue’s headquarters and realty
office. When the facility opens, its early childhood education center
will help address a capacity shortage in the Near Northside community.
Avenue broke ground on Avenue Center in April 2019. The
development is estimated to open in early 2020.
Area Development
(5.4 miles southwest of the property)
Hardy Yards ‐ a 43 acres section of land located about 1000 yards
north of Downtown Houston. Developers are planning to spend over
$250,000,000 over the next few years to turn the rail yard area into the
newest mixed‐use development in Houston. This is one of Inner Loop
Houston’s largest proposed gentrification projects. The area is
expected to have one of the highest concentrations of new
restaurants, retail centers and parks anywhere in the city. Once
completed, Hardy Yards aims to create a new vibrant urban district that
is an extension of its once historic neighborhood.
HIP - Page 39 of 48
Area Development
(5.4 miles southwest of the property)
Market at Houston Heights ‐ Capital Retail Properties, in partnership
with Wile Interests, has started construction on a 30,000 sf mixed‐use
development located at 1533 N Shepherd Dr. The project will feature a
3K SF central plaza with seating for community events that will
separate the 26K SF two‐story main building from a one‐story, 4K SF
building allocated for dining. It is close to popular spots such as the
Heights Bier Garten, Snooze Eatery, Superica, La Lucha and a new, two‐
story H‐E‐B grocery store. Developer expects to deliver in 4Q 2019.
La Casita Homes - Page 40 of 48
(4.5 miles northwest of the property)
Megacenter Willowbrook ‐ A former Walmart is being redeveloped
into a 236,000‐SF Megacenter on FM 1960 near Willowbrook Mall.
Situated on 24 acres at 7075 FM 1960, the property is across the street
from Willowbrook Mall. The facility in northwest Houston will have a
gym, flex space, office space, self storage and an auto center.
Megacenter Willowbrook will be constructed in three phases. The
project, which broke ground in July 2018 has an expected final
completion date of November 2019.

(5.8 miles southwest of the property)
University of Houston Downtown (UHD) ‐ purchased a 17‐acre
parcel of land located immediately to the north of its existing campus.
The purchase increases the UHD campus to approximately 40 acres
and grows its footprint by 74 percent. This large tract will also ensure
space for other new academic and student life facilities, as yet to be
determined. It is the site of a new Science and Technology Building,
which was completed in time for the fall 2019 semester. Spanning
105,000 square feet, the CST Building (located off North Main Street
along White Oak Bayou) is the latest addition to both the Downtown
Houston skyline and the city’s academic landscape.
Area Development
(6 miles south of the property)
East River ‐ Midway has released renderings of the 150‐acre site east
of downtown Houston along 6,000 feet of Buffalo Bayou waterfront.
The multiphase, mixed‐use project will include residential, restaurants,
office, retail, entertainment and recreational space. The
redevelopment plans include: 8.9M SF of Class‐A office space, 500K SF
of retail space, over 1,400 multifamily units, more than 475 single‐
family residences and 12‐plus acres of green space. The campus is
within an opportunity zone. The project will be built in five phases.
HIP - Page 41 of 48
Area Development
(7.3 miles northwest of the property)
Coca‐Cola ‐ is building a 1 million‐square‐foot, $250 million
manufacturing and distribution facility in Houston. The new facility will
be located at 600 Fallbrook in Pinto Business Park, at Beltway 8 and
Interstate 45. The project is the first new Coca‐Cola plant built in the
U.S. in more than a decade. Construction is expected to begin in the
first quarter of 2019, followed by equipment installation in the second
quarter and occupancy by the end of 2019. The facility is scheduled to
start up at the beginning of 2020. The new facility will incorporate five
production lines for manufacturing as well as distribution, warehouse
and sales components.
La Casita Homes - Page 42 of 48
(7.9 miles northwest of the property)
Layne Crossing ‐ Crow Holdings Industrial acquired a 45‐acre lot
in Greens Crossing Business Park. The 530K SF is set to deliver Q4
2019. Layne Crossing offers multiple points of access to two major
freeways, excellent branding opportunities with frontage on Beltway 8
and I‐45, and the opportunity for companies to locate their businesses
in a high quality, well‐maintained business park. Developers are rapidly
breaking ground on new product to meet the industrial demand from
e‐commerce, energy and energy‐related end users.
 Houston Area Attractions
Space Center Walk, Bike or Paddle
Museum District Houston Zoo
Houston in Buffalo Bayou Park

Discover Houston's Houston Underground Day Trip to

Sports
Street Art Tunnel Guided Tour Galveston

HIP - Page 43 of 48
Houston Demographics

La Casita Homes - Page 44 of 48

Neighborhood Demographics

HIP - Page 45 of 48
 TYPES OF REAL ESTATE LICENSE HOLDERS: . Information About Brokerage Services
 A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker. 11-2-2015
 A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.  Texas law requires all real estate license
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents): holders to give the following information
 Put the interests of the client above all others, including the broker’s own interests; about brokerage services to Prospective
 Inform the client of any material information about the property or transaction received by the broker;
 Answer the client’s questions and present any offer to or counter‐offer from the client; and buyers, tenants, sellers and landlords.
 Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION:

AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or
property management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the
property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A
buyer's agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent,
including information disclosed to the agent by the seller or seller’s agent.
AS AGENT FOR BOTH ‐ INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction.
The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts
as an intermediary:
 Must treat all parties to the transaction impartially and fairly;
 May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide
opinions and advice to, and carry out the instructions of each party to the transaction.
 Must not, unless specifically authorized in writing to do so by the party, disclose:
o that the owner will accept a price less than the written asking price;
o that the buyer/tenant will pay a price greater than the price submitted in a written offer; and
o any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.
AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does
not represent the buyer and must place the interests of the owner first.
TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:
 The broker’s duties and responsibilities to you, and your obligations under the representation agreement.
 Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please
acknowledge receipt of this notice below and retain a copy for your records.
Houston Income Properties, Inc. 393404 N/A 713.783.6262
Licensed Broker /Broker Firm Name or License No. Email                     Phone
Primary Assumed Business Name 
Regulated by the Texas Real Estate
Commission
Jim Hurd                                                  393404 jhurd@houstonincomeproperties.com 713.783.6262
Designated Broker of Firm              License No.                                  Email                     Phone
Information available at
_____________________________                                                ______        ___________________________   ___________ 
www.trec.texas.gov IABS 1-0
Licensed Supervisor of                                                                       License No.                      Email                     Phone
Sales Agent/Associate
_____________________________                                               ______         ___________________________   ___________
Sales Agent/Associate’s Name                License No.                                   Email                     Phone

La Casita Homes - Page 46 of 48

 Disclaimer
The information provided in this offering memorandum is either provided to us by the owner of the property or obtained from sources that
we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. It is the responsibility of the reviewer to verify
availability and specific property information. Availability, pricing and terms are subject to change without notice. Owners reserve the right to
withdraw their listing, without any notice at any time during the marketing period.
Houston Income Properties, Inc. has not determined whether the property complies with deed restrictions or city or other municipality
licensing or ordinances. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, EXPENSE AND PERFORM OR HAVE
PERFORMED ANY INSPECTIONS TO VERIFY POSSIBLE CONTAMINATION BY ASBESTOS, LEAD PAINT, MOLD OR ANY OTHER HAZARDOUS
SUBSTANCES.
While the Owners and Houston Income Properties, Inc. have no reason to believe that the information provided herein or in subsequent
information updates delivered to potential purchasers contains any material inaccuracies, neither the Owners nor Houston Income
Properties, Inc. nor any of the Owners’ or Houston Income Properties, Inc.'s respective subsidiaries, affiliates, companies, or the officers,
directors, employees, agents and representatives of any such entities, etc., make any representations or warranties, expressed or implied, as
to the validity, accuracy or completeness of the information provided or to be provided, and nothing herein shall be deemed to constitute a
representation, warranty or promise by any such parties as to the future performance of the Property or any other matters set forth herein.
We do not guarantee or warrant the accuracy, reliability, completeness, or usefulness of the information in this offering memorandum or on
marketing websites, whether ours or other industry sites to which we link, it is the prospective purchasers responsibility to confirm accuracy
and completeness. Any use of or reliance upon information from this memorandum or from company websites or a linked site is at the user's
risk.
The information contained in this offering memorandum does not constitute legal, accounting, or other professional advice. Prospective
purchasers are not to construe the contents of this Offering or any prior or subsequent information communications from the Owners or any
of their respective officers, employees or agents as legal, tax or other advice. Prior to purchasing, prospective purchasers should consult with
their own legal counsel, personal accountants and tax advisors to determine the consequences of an investment in the Property and arrive at
an independent evaluation of such investment.
No commission or finder’s fee shall be payable to any party by the Owners nor any affiliate or agent thereof in connection with the sale of the 
Property unless otherwise agreed to by the Owners in writing.

HIP - Page 47 of 48
 For More Information
Please Contact:
 

HOUSTON INCOMEPROPERTIES, INC.

Jim Hurd - Broker Peter Huang - Agent

President Senior Sales Associate
jhurd@houstonincomeproperties.com phuang@houstonincomeproperties.com 
 

Bishale Patel - Associate Broker Mitul Patel - Agent

Vice President - Sales Sales Associate
bpatel@houstonincomeproperties.com   mpatel@houstonincomeproperties.com 
 
 
James Barry - Agent
Gwyn VonHeeder - Agent
Sales Associate
Vice President - Operations jbarry@houstonincomeproperties.com
gvonheeder@houstonincomeproperties.com 
 
HOUSTON OFFICE AUSTIN OFFICE
6363 Woodway 912 S. CAPITAL OF TEXAS HWY
Suite 370 Suite 360
Houston, TX 77057 Austin, TX 78746
T - 713-783-6262 T - 512-610-8000
F - 713-783-6767 F - 512-640-8001