Looking for 3–5 SFR Investment Deals in Houston (Conroe / New Caney)

Hey everyone,

I’m currently looking to put together a small portfolio (3–5 single-family homes) in the north Houston / Montgomery County area (Conroe, New Caney, Magnolia, etc.) and wanted to put my buy box out there in case anyone is working on deals that might fit.

I’ve been actively underwriting new construction and inventory homes with a few builders, but as expected, a lot of deals are pricing closer to owner-occupant levels, so I’m looking to connect with anyone who might have opportunities that align better with investor returns.

Of course any other feedback on strategy is welcomed.

What I'm targeting
Property type: SFR (newer builds preferred)
Beds: 3–4
Strategy: Long-term rentals
Target cap rate: ~6.0%–6.7%
Cash flow target: ~$150+/month per property
Portfolio size: 3–5 homes (open to bundling)

Preferred areas (the below are where I see numbers making the most sense, but flexible)

Conroe 

New Caney

Open to nearby submarkets if the numbers make sense

What I’m seeing so far
A lot of builder pricing is still $30K–$60K above where deals pencil

A few deals are getting close, but still need structure or pricing adjustments

What I’m open to

Direct with builders (especially smaller/local builders)

Off-market deals

Portfolio sales

Light value-add if already rentable

What I’m NOT looking for

Retail prices 😅

Deals that only work with aggressive rent assumptions

Heavy rehab projects

Real estate agent (already working with an agent)

Goal

Looking to connect with:

Builders willing to move multiple units

Wholesalers with off-market inventory

Investors exiting small portfolios

Anyone seeing deals that actually pencil at current rates

If you’re working on anything that fits (or close), feel free to DM me or drop a comment, happy to move quickly on the right deals.

Appreciate any insight or connections.

-David