A ground-up duplex subdivision on ±4.8 shovel-ready acres at 705 N 6th St, Conroe, TX — developed by Caval Properties, built by Caval Construction LLC.
Shovel-ready site
Conroe, TX
Conroe sits on the I-45 growth corridor north of Houston, anchored by The Woodlands employment hub, a strong school district and Lake Conroe. Population growth keeps outpacing housing supply — exactly the gap this project sells into.
Montgomery County is one of the fastest-growing counties in the U.S.; Conroe's population has grown more than 50% since 2010.
New comparable product (Arbor Pines, by Everline) closes at ~$152/sf and the CMA median runs ~$150/sf (HAR) — Caval's edge is cost, self-performing to a ~$170K all-in target per door.
Zoned to a strong, fast-growing district — elementary within walking distance, Conroe High 8 minutes away.
County seat employment downtown, HCA hospital, The Woodlands corporate corridor and the I-45 commuter pipeline to Houston.
H-E-B · 7 min
Walmart · 9 min
Home Depot · 7 min
Lowe's · 9 min
CVS 24-hr · 4 min
Walgreens 24-hr · 3 min
Sam's Club · 7 min
Costco · 15 minDrive times measured in Google Maps from the site address. Brand logos are trademarks of their respective owners, shown only to indicate nearby amenities — no affiliation or endorsement implied.
±4.8 acres, 29 platted lots in the established School Park Addition. The site is ready to build: vertical construction starts immediately on existing streets, and streets, utilities and platting are all funded on Day 1 — the entire site opens early. Public sewer confirmed.
H-E-B3.7 mi · 7 minWalmart Supercenter2.5 mi · 9 minSam's Club2.4 mi · 7 minCostco9.8 mi · 15 minHome Depot2.0 mi · 7 minThe design keeps advancing with engineering: the latest preliminary site plan (July 2026) lays out the full site with two-story duplexes of 2,200 sf per building side, while the original Turner Street concept shows the product level — individually accessed 3-bed / 2.5-bath units with private garages.
Preliminary design for reference only (Plan No. 1665-1221, Monte Smith Designs) — final plans subject to engineering, permitting and city approval.
You don't have to take our word on demand. A few minutes from the site — and farther from downtown than we are — national builders are selling and brand-new product leases as soon as it's finished.
Now SellingFor LeaseUnder ConstructionPhotos taken by Caval at nearby Conroe communities, July 2026. Third-party builder names shown for market context only — no affiliation.
One investor close controls the whole program. Duplexes are built seven at a time; each finished batch returns ~$3.62M net and immediately funds the next — a ~2–2.5 year sell-out with three ways to exit every batch.
A single close funds land, pre-development, both streets and the first 7 duplexes. Land passes through a title company; construction funds sit in a third-party-verified fund-control account.
Vertical construction starts immediately while streets and utilities open up the rest of the site. Caval Construction self-performs at $105/sf, with periodic reports to investors.
Each 7-duplex batch returns ~$3.62M net, recycled straight into the next batch. Market rent runs ~$1,800/mo per unit if a batch leases instead of selling.
Triple exit per batch: sell the units, hold them as an income-producing rental portfolio (~$1.25M gross rent · ~$774K stabilized NOI — 5.9% on total cost), or roll proceeds into the next Caval development.
One close on Day 1 funds land, all pre-development, city fees, both interior streets, the first 7 duplexes and a working-capital reserve — then the same dollars recycle through all four batches. No bank, no recourse, every disbursement verified through a fund-control account.
Development and construction fees are project costs contracted separately with Caval Properties and Caval Construction — standard market practice. They sit outside the waterfall and do not participate in the profit split. Draft structure, subject to legal review; definitive terms will be set out in the operating documents.
Honest disclosure: in a pure rental-hold scenario, portfolio cash flow does not fully cover the 8% annual preferred — the shortfall accrues in favor of the Investor Member and is settled at portfolio refinance or through selective unit sales.
Cost discipline: all-in cost per door: $225.9K modeled · breakeven ~$189K · operating target ~$170K. Market benchmark: new comparable product (Arbor Pines, by Everline) closes at ~$152/sf. Every trade is bid to a minimum of three quotes; projections freeze only after the civil hard bid and per-door vertical bid close.
A clean cap table: the project is owned by Conroe 6th St JV LLC (Texas), with only two members — Caval and a single investor vehicle. One K-1, one signature, one transfer at closing. Investors keep consent rights on major decisions.
Subscribe directly into a single investor vehicle LLC that concentrates all Monterrey capital and is the JV's sole investor member. They receive their capital back first, then an 8% annual cumulative preferred, then the agreed profit split — with no operating responsibility.
The investor vehicle is formed and managed by principals from the Monterrey group itself — people the investors already know and trust. They invest their own capital alongside the group and earn a carry inside their vehicle — like a fund GP, they only win if the investors win.
Managing member of the JV — bought and entitled the land, runs the development and answers for the business plan. Development is executed by Caval Properties and construction by Caval Construction LLC under separate market-rate contracts.
Standard U.S. banking and legal requirement for all foreign investment — handled confidentially:
Fix-and-flips acquired by Caval Properties and rebuilt by Caval Construction, a flagship luxury renovation in Katy, and commercial prefab buildings delivered for national EV-infrastructure clients — the same discipline now scaled to Conroe.
Commercial · Delivered
Commercial · Delivered
$1.2K/mo cash flow
Flipped
FlippedMore than 10 years in construction across commercial and residential projects. As a project manager with Tribble & Stephens I directed over $65M in construction — including mid-rise work in the Houston Heights — running schedules, budgets, subcontractors and owners before building my own portfolio of Houston renovations and rental property. Sierra Forest brings that same discipline to ground-up development: I develop it, I build it, and I answer directly to the investors in it.
Complete pro forma, phased budgets, recorded plat and surveys, comparable sales and the JV structure are available for qualified investors and broker partners.
Contact Adrian Cavazos