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1513 Longneck Rd
Princeton, TX 75407
Asking Price
Contact for price
Asset Type
Commercial Land
Class
Class B
What's Special
Land | 20.93 acres <p><strong>FULLY PLANNED 480-UNIT MULTIFAMILY SITE IN PRINCETON, TX</strong></p><p>Princeton Landing is a 20.9-acre multifamily development site approved for 480 units of garden-style development with in place PD zoning designation and DA. Full architectural and engineering plans convey with the sale. Building permits have lapsed, but all other entitlements remain in place. The site is structured for two-phase delivery and carries a total property tax rate of 1.88%. Electrical service confirmed
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NOI
$80,000
Cap Rate
8.00%
DSCR
1.35
Strong
Cash-on-Cash
6.88%
Monthly Payment
$4,947.454
Annual Cash Flow
$20,630.547
