Property Analysis:

 

River Oaks Townhome Unit 1304

 

Property Address: 305 Holleman Drive Unit 1304 College Station, TX 77840

 

Square Footage: 1836

 

Asking Price: $197,900.00

 

Price/Square Ft: 95.59

 

HOA Fee: 120.00/month

 

 

General Construction:

-True townhome style living with 9' ceiling and fenced rear yard

-Large bedrooms with ceiling fan and overhead lights

-Walk-in closets in each bedroom

-Each bedroom has its own bathroom

-Individual thermostats in each bedroom

-Walk-in utility room with available full-size washer and dryer

- Fully equipped kitchen with self-cleaning oven and glass stovetop; large refridgerator with ice maker; microwave oven; dishwasher; granite countertops

-Faux wood blinds on each window

-Assigned resident and visitor parking

-Wired for security, internet, and surround sound

-Electronic remote gate entry for each resident

 

 

 

 

Floor Plan:

 

 

 

Low Maintenance Exterior:

-Lawn care provided by Home Owners Association

-ACME brick

-Concrete rear patio

-Fenced private backyard

-Front yard landscaping

-Sidewalks for easy access to other residents and parking

 

Amenities:

-On Texas A&M shuttle route

-Secure gated entrances with parking at resident's door

-Clubhouse with coffee bar, fitness room, pool, hot tubs, and jogging trails

-Located adjacent to Wolf Pen Creek Park

 

Convenient Location:

-About one mile from campus

-On campus bus route

-Less than five minutes from Sorority Row and Post Oak Mall

-Gated entry with wrought iron fencing

-Located within walking distance from Wolf Pen Creek

 

 

Competitor Analysis:

Competitors include 4 bed 4 bath townhomes within a 5 mile radius of Texas A&M University that were built within 5 years prior or post 2006. Other available River Oaks Townhomes for sale are also considered competitors.

Competitor	Year Built	Sq Ft	Rent Revenue	Current Sale Price
Wolf Creek Condos	2008	1473	$1,590.00	For lease only
Waterwood Townhomes	2006	1490	$1450.00	$144,500.00
Fox Run Condos	2003	1600	$1,590.00	$142,000.00
River Oaks Townhomes	2009	1693	$1695.00	$197,900.00

 

Supply & Demand:

Students of Texas A&M University occupy a large portion of the local rental stock. Approximately, 8,000 students are housed in dormitories and 700 students are living in university owned apartments located, however this is going to change due to redevelopment of on campus housing. The remaining 37,000 students are housed in the private housing market. The estimated vacancy rate of 8.5 percent (Figure 8), has increased by 2 percentage points during the 12 year period. On average, 750 multifamily units a year have been permitted in the HMA since 2000.

Our target market is Texas A&M students. With the property conveniently placed just one mile from campus and on the bus route, it is an ideal location for student living. The Texas Higher education board reported fall 2011 enrollment for Texas A&M at 49,861, and showed a steady increase over the past 4 years. Demand for student living is on the rise.

 

SWOT Analysis:

 

Map of  River Oaks and Surronding Area