$350,000
26123 Richards Rd, Spring, TX 77009
Current Rent **
$2,700
Projected Rent **
$2,700
Stabilized Imperial Oaks SFR
Off-market, tenant-occupied single-family rental in Imperial Oaks — Spring, TX 77386
This is not a projected-rent rehab or lease-up opportunity. It is an established, income-producing rental with documented operating history and the same tenant in place since 2019. Excellent for 1031 Exchange buyers.
Investment Snapshot
* Asking price: $350,000
* Actual current rent: $2,700/month
* Annualized rent: $32,400
* Gross yield at asking: 9.3%
* 2025 actual owner-reported NOI: $22,069
* 2025 actual cap rate: 6.3%
* Collection history: 100% of scheduled rent collected
* Tenant tenure: Since August 2019
Property Details
* Detached, one-story single-family home
* 4 bedrooms / 2 bathrooms
* 1,993 square feet
* 7,130-square-foot lot
* Built in 2001
* Established Imperial Oaks community
* Zoned to Conroe ISD
* FEMA Zone X — outside the Special Flood Hazard Area
* Full roof replacement completed in 2021
* Side fences replaced
The property offers an unusual combination of strong current yield and long-term suburban rental quality. Imperial Oaks is an established owner-occupant and rental community—not a distressed or high-turnover investment area. The four-bedroom, one-story layout should support durable tenant demand and future resale appeal.
Investor Notes
* Immediate income from closing
* No initial vacancy or lease-up required
* Multiple years of actual rent and operating history—not estimated market rent
* Detailed financial workbook and supporting records available
* Direct owner sale with no listing agent
* Cash, DSCR, and conventional financing considered
* Suitable for buy-and-hold investors, portfolio landlords, and 1031 buyers
Tenant occupied—please do not disturb. Interior photographs are from the 2019 leasing set prior to the current tenancy. Interior access will be provided following an accepted contract during the negotiated option period.
All information is provided from owner records believed to be reliable but is not guaranteed. Buyer must independently verify the property condition, lease terms, income, expenses, measurements, flood designation, school information, calculations, and investment returns.
Location:
26123 Richards Rd, Spring, TX 77009
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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.
** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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