29 duplexes · 58 units on ±4.8 acres at 705 N 6th St, Conroe, TX 77301 — a capital-recycling development with no bank financing, built and sponsored by Caval Group.
Instead of raising the full $13M project cost, one tranche of investor capital builds four duplexes at a time. Each batch sells, returns ~$2.07M plus profit, and the same dollars fund the next batch — through all 29 duplexes.
Investor funds land, pre-development and the first 4 duplexes (~$2.46M).
The 4 city-approved lots sit on existing streets — no replat needed to start.
~$2.07M net per batch recycles back, plus profit distributions.
Proceeds fund the interior streets and the next 4 — repeat to 29 duplexes.
Four lots are shovel-ready today (city-approved for duplexes on existing Turner & 6th Street frontage). Building interior streets McComb & Grogan unlocks the remaining 25 lots. Public sewer is confirmed available.
Base case: 58 units averaging $275,000 (~$183/sf) — in line with 77301 new-construction duplex comps at ~$172/sf. Sponsor self-performs as GC at $104/sf vertical cost.
| Sale: 8 units × $275,000 | $2,200,000 |
| Less: selling costs (6%) | −$132,000 |
| Net proceeds — recycles forward | $2,068,000 |
| Less: batch build cost (vert + taps + 5%) | −$1,342,400 |
| Surplus per batch | $725,600 |
| Land acquisition & closing | $465,000 |
| Soft costs / pre-dev (incl. replat) | $650,000 |
| City permits & utility taps | $232,000 |
| Site work: McComb / Grogan streets | $1,150,000 |
| Vertical construction (87,000 sf) | $9,048,000 |
| Contingency (5%) | $509,900 |
| Developer fee (total) | $950,000 |
| Bank financing / interest | $0 |
| Total project cost | $13,004,900 |
| Gross sell-out (58 units × $275,000) | $15,950,000 |
| Net sales revenue (after 6% selling costs) | $14,993,000 |
| Total net profit — 15.3% margin on cost | $1,988,100 |
Conroe is one of the fastest-growing cities in the U.S., anchored by I-45, The Woodlands employment corridor and Lake Conroe. The site sits in the established School Park Addition, three minutes from downtown.
Zoned to a strong, fast-growing district; Sam Houston Elementary 3 min, Conroe High 8 min.
H-E-B, Home Depot, Walmart and Lowe's all within 9 minutes; 24-hr fuel and pharmacy within 4.
County courthouse, City of Conroe, Conroe ISD admin and HCA Houston Conroe hospital all ≤10 min.
Walkable historic downtown dining 3–4 min; neighborhood parks nearby, Lake Conroe access ~15 min.
Complete pro forma, phased budgets, recorded plat and survey exhibits, comparable sales, and the JV structure exhibit are available for qualified investors and broker partners.
Contact Adrian Cavazos