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The Klear Pad

Single Family Residence in Houston, Texas
8 bedrooms • 3 bathrooms • 1,728 Sq. Feet

avatar
Property listed and underwritten by Joey
icon-hourglass
$10bn+ deployed

icon-real-estate-agent
$335,000 purchase price
The Klear Pad was purchased off-market.
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70.00% loan-to-value
Property financed with 6.75% interest only loan.
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$55,200 projected yearly rental income
The Klear Pad is currently 100% occupied with actuals well above Year 1 underwriting

The Klear Pad is an 8-bed, 3-bath turnkey PadSplit with over 12-months of actuals. Delivered fully stabilized, fully remodeled, fully furnished, and with newly installed solar panels for energy sustainability and efficiency, this asset is situated in Northeast Houston.


Nearby comparable properties
Nearby sales
Beds
Baths
Sq. Ft.
Date sold
Price sold
icon-real-estate-agent
8405 Green River Dr
3
2
1.8K
Aug-24
$335K
icon-real-estate-agent
9230 Madera Rd
3
2.5
1.8K
Sep-24
$329.9K
icon-real-estate-agent
4002 Bennington St
3
2.5
1.9K
Apr-25
$329.9K
icon-real-estate-agent
Weighted avg.
-
-
1.8K
--
$331.6K
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The Klear Pad
8
3
1.7K
Jun-25
$335K

What are the potential returns
info
Projected value
--
caret-up--
Rental income
info
$84K / 4% growth
Expenses
info
$NaN / 2% growth
Appreciation
info
3% growth

The property's status
Purchased Property
June 2025
Anticipated First Dividends
July 2025

The property comes furnished and make-ready as a turnkey PadSplit that has achieved rental actuals over the past year above projected underwriting rents going forward


What goes into the offering
Offering Details
Purchase Price
$335,000

(-) Debt
($234,500)
Equity
$100,500
(+) Reserves & Closing Costs
$64,320

(+) mogul Platform Fee (One-Time)
$16,750
Total Offering Amount
$181,570

When the asset is expected to be sold
Hold Period
5 - 7 Years
Target Secondary Liquidity Option
Q2 2026

Hold Period:

We anticipate holding the asset and selling it after 5-7 years. After 5 years, we will analyze the trends in national and local markets to project an estimated value / movement in prices over the coming years.

We will present our findings and recommendations to the investors to decide on the best time to sell. If the trends are pointing to selling before 5 years or after 7 years, we will notify investors on an ad hoc basis with our findings.

We are targeting a secondary liquidity option, so not all investors have to agree on the best course of action to sell their ownership stake.

Target Secondary Liquidity Option:

We are targeting a secondary liquidity option around Q2 of 2026. This means we are targeting providing the ability for investors to sell their shares at their asset value at any time.

While this is our target timeline, several factors may lead to us launching the secondary liquidity earlier or later than the intended timeline. As such, investors should budget for the hold period of 5-7 years when making their investment.


Where you'll be investing
Houston, Texas
16.6%
Past 5-year Market Rent Increase
60.1%
Past 5-year Market Value Increase

Houston, TX


  • Diverse Economy: Houston's economy is bolstered by industries like energy, healthcare, and aerospace, providing stability with a diverse job market.
  • Population Growth: Houston is a magnet for residents, adding over 1.1 million people (2010-2020). Limited housing inventory and strong demand have propelled property values up.
  • Investment Potential: Houston offers affordable real estate, favorable landlord regulations, and no state income tax. With rental yields averaging around 7%, it presents lucrative opportunities for investors.

avatar
Property listed and underwritten by Joey
icon-hourglass
$10bn+ deployed
icon-mogul-black-sm
mogul co-founder
Prior to co-founding mogul, Joey deployed $10bn+ into high quality residential real estate for some of the most prominent institutions on Wall Street.
Other Key Personnel
managed-by
Managed by PadSplit
managed-by
Financed by Coast2Coast

Frequently asked questions