AREA ANALYSIS
Brazos County is home to many college students attending Texas A&M University as well as Blinn Junior College. The culture has always been known to be friendly, warm, and welcoming. The landscape consists of bluebonnets, farms, and new neighborhoods being built all over the county. Brazos County is located between the Navasota and Brazos rivers in southeast central texas. The county was named after the nearby river, Brazos River. Bryan and College Station play the major roles for this Texas county. The community consists of working people who are involved in the agriculture field, as well as students here for a good education.
PROPERTY ANALYSIS
In 2004, Gateway Villas was built in College Station off one of the main roads, University Drive. The first town homes had made a great investment which eventually led to the builders creating a second section in 2008. Gateway Villas is still continuing to grow and a third section is being built at this moment. The town home HC Realty is looking to invest 3 bedroom/3 bathroom or 4 bedroom/4 bathroom homes that average 1405 square feet. The estimated sales price is around $150,000.
The estimated local population in College Station consists of 96,661 people. The town homes are walking distance to restaurants, such as Cheddars, Chipotle, and Texas Roadhouse. Ulta, Pet's Mart, and Kirklands are stores that are also "walkable" from Gateway Villas. The schools zoned to Gateway Villas are College Hills Elementary School, College Station Middle School, and A&M Consolidated High School. The local colleges that many students attend are Texas A&M University and Blinn Junior College.
TARGET MARKET
Based on demographic research in the city of College Station, HC Realty has identified key consumer groups in the area that will help this investment process to follow through. Our primary focus will be on college students attending Texas A&M University or Blinn Junior College. Our secondary focus will be young couples that have just become newlyweds and beginning to start a family.
COLLEGE STUDENTS: This target market will be HC Realty's largest consumer group to focus on. Gateway Villa town homes are perfect places for College Students to spend their 4 years living in. The residency is big enough for them to create a "mini-home away from home." The town homes are also not overwhelmingly large to where students have a tough time maintaining it. The estimated student population is around 64,618 people, which is a huge number that HC Realty can set their main focus on.
YOUNG FAMILIES: Our secondary market will be very important as well to focus on. There are many newlywed couples in College Station that are starting their first career outside of college, or are continuing their education at Texas A&M University for their masters. Gateway Villas would be a perfect place for newlyweds to start their life, because it will save them a lot of money compared to buying a house right away. This town home also provides them two extra rooms for an office, baby room, or another TV Room.
BASIC EMPLOYERS
RENT PRICE COMPARABLES
HC Realty's goal is to sell and invest in a home that provides quality to their consumers, and sells at a comparable price amongst their competitors. We determined our rent prices by comparing them with Fox Run, The Woodlands, and The Lofts. The Fox Run is the most similar to Gateway Villas, and The Woodlands and The Lofts are nicer apartment complexes that have rent prices similar to Fox Run. All three of these facilities provide the same facilities Gateway Villas displays, except Gateway Villas does not provide a fitness center and a club house area. We will include the two pools Gateway Villas provides into the final rent price.
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| The Woodlands: 3 bedroom Rent Price: $1,971 $657/Person |
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| The Lofts at Wolf Penn Creek: 4 bedroom Rent: $2,500 $625/Person |
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| Fox Run: 3 bedroom Rent Price: $1,800 $600/Person |
After comparing and analyzing different rent prices, HC Realty determined the rent price they will place on their Gateway Villas investment. They want to compete with their competitor over at Fox Run, so they placed the rent at $1,250 for a 2 bedroom, $1,850 for a 3 bedroom, and $2,250 for a 4 bedroom. This will give their potential buyers to see a cheaper price placed in a better location in College Station.
GATEWAY VILLA'S AMENITIES
Pool Area: Gateway Villas provides 2 pools in separate ares of the facility. One of the pool provides more shade, while the other pool soaks up all of the sun. The first pool was created in 2004, and the other pool was made in 2008. Both pools are kept updated, and are cleaned throughout the year.
VACANCY RATE
College Station has an overall low vacancy rate. With the population continuing to rise, houses all over the town tend to sell quickly. As of right now, the College Station-Bryan area has a sales vacancy rate of 1.8 %. The older units and affordable sales have kept this overall vacancy rate quite low. In College Station there is an average of nearly 950 home sold a year and it is only going to continue to increase. Gateway Villas is part of this low vacancy rate. By having a strong target market to focus on, the town homes are sold and rented out right after they are put on the market.
BUSINESS COMPETITION
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| Style Craft Builders is the largest new home builder in the College Station/Bryan area. They have been around for 20 years and they have a well-known reputation for integrity, honesty, value and style. |
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Oakwood Custom Homes has been building new homes in the Brazos Valley area for over 33 years. They are known to build affordable luxury homes all over the area. There homes vary from 1,500 to 4,600 square feet. |
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| A real estate agency who has sold homes in the College Station/Bryan area ranging from $130,000 to $450,000. They help consumers with leases, permanent properties, and investment properties. SWOT ANALYSIS
STRENGTHS
WEAKNESSES
OPPORTUNITIES
THREATS
DEMOGRAPHICS
College Station has around of 96,661 permanent residents. From 1990, the town has continued to grow every year. With the increase in student population every year at Texas A&M University, the permanent residency will be forced to grow as well.
RACE DISTRIBUTION:
Over 70% of the College Station population is White residents. The smaller percentages consist of Hispanics, Asians, and Blacks.
EDUCATION:
POPULATION BY AGE RANGE:
The majority of the age range is from 18-24 years old.
HOUSEHOLD INCOMES:
A large amount of the population are students still finishing their college degree. This explains while majority of the population has an income less then $15,000.
INDUSTRY:
There is a diverse range of industries in the city of College Station. The largest industries include Education, Health, and Social Services. The smallest one includes the wholesale industry.
LOCAL SCHOOLS:
College Station consists of 8 elementary schools, 4 middle schools, and 3 high schools. Listed below are a couple names of the schools and where they are located.
College Hills Elementary School Creek View Elementary School
1101 Williams St. 1001 Eagle Ave.
College Station, TX 77840 College Station, TX 77845
A&M Consolidated Middle School College Station Middle School
105 Holik Dr. 900 Rock Prairie Rd.
College Station, TX 77840 College Station, TX 77845
A&M Consolidated High School College Station High School
1801 Harvey Mitchell Parkway South 4002 Victoria Ave.
College Station, TX 77840 College Station, TX 77845
COLLEGE STATION AMENITIES
RESTAURANTS:
Family-owned and chained restaurants are all over the area of College Station. The newest addition to the city has been Chuys, BJ's, and Lupe Tortilla. These 3 restaurants has already taken a lot of business from the local owned restaurants. However, Layne's, Cafe' Eccell, and Cenare are all local restaurants that do significantly well.
Favorite Consumer Restaurants:
1520 Harvey Rd.
College Station, TX 77840
1512 Harvey Rd.
College Station, TX 77840
101 Church Avenue
College Station, TX 77840
ENTERTAINMENT:
From Texas A&M football games to music entertainment at Wolf Penn Creek Amphitheater, College Station provides great entertainment for family and friends.
Texas A&M Football: SEC Conference
Wolf Penn Creek Amphitheater
Hurricane Harry's
Hosts musicians such as Randy Roger's Band, Josh Abbott Band, and Aaron Watson.
ECONOMICS
The local unemployment rate in College Station, TX is 6-7%. The low rate has to do with Texas A&M University providing new jobs every year for permanent residents.
LIFESTYLE CHARACTERISTICS
High Community Involvement: College Station residents are very involved with their neighborhoods and communities. They gather together at neighborhood bbq's, church, tailgating for football games, and school events.
Friendly: "Howdy" will most likely be the first word you hear come out of a local resident's mouth. They make visitors feel at home, and will not hesitate to help any one if they are lost.
Educated: With majority of the population attending or working at Texas A&M University, the population of College Station is highly educated.
Conservative: There is a high % of resident's that fall under the Republican crowd. Majority of consumers are old-school and do not change their values very much. For instance, our own Governor Perry attended Texas A&M University.
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