Renovated Triplex with Furnished
For Sale
$1,100,000
1015 Brooks St, Houston, TX 77009
Completely renovated furnished triplex with private entrances, full kitchens, and fenced grounds with six parking spaces.
Property Size3,305 SF
Price / SF$332.83
Days on Market83
Property Features for 1015 Brooks St
General Information
Standard status
Active
Size
3,305 SF
Total Parking Spaces
6
Property subtype
Investment
Lease Term
Weekly
Additional Details
Furnished
Yes
Cap Rate
7.7%
Fenced Yard
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,423
Amenities
private entrances
full kitchens
washer/dryer
patios
Building Details
Building Size
3,305 SF
Year Built
1900
Stories
2
Units
1
Tenancy
Multi
Listed By:
Krista Lancton · License #0655543
(832) 659-7553
Source:
Elliman
Added: Jun 20
Changed: Sep 6
Last Checked: Sep 9 at 10:19AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Krista Lancton
Investment Insights
Based on property information with market context.
This completely renovated, fully furnished triplex consists of three separate units: a single-family home and a duplex on two levels. Unit 1 is the single-family home with a private entrance and full kitchen, featuring 5 bedrooms and 5 bathrooms plus a study, along with an in-unit washer/dryer. Unit 2 is a first-floor duplex unit with its own private entrance, a full kitchen, 2 bedrooms and 2 bathrooms, and a washer/dryer in unit. Unit 3 is a second-floor duplex unit with a shared laundry arrangement with Unit 2, offering 2 bedrooms and 2 bathrooms and a fully equipped kitchen.
The property is fully fenced and includes multiple patios with downtown views, plus six on-site parking spaces. It is located across the street from Bad Astronaut Brewery, about 1/2 mile to U of H Downtown, and under 2.5 miles from downtown sports venues.
Together, the three units can comfortably sleep up to 26 guests. The offering is described as income producing with consistently occupied short-term tenants and depreciation tax benefits.
The property is fully fenced and includes multiple patios with downtown views, plus six on-site parking spaces. It is located across the street from Bad Astronaut Brewery, about 1/2 mile to U of H Downtown, and under 2.5 miles from downtown sports venues.
Together, the three units can comfortably sleep up to 26 guests. The offering is described as income producing with consistently occupied short-term tenants and depreciation tax benefits.
Key Highlights
- Completely renovated, furnished triplex with private entrances, full kitchens, and fenced grounds
- Three units combine to sleep up to 26 guests
- Unit 1 is a 1,962 SF single‑family home with 5 beds/5 baths plus study and in‑unit washer/dryer
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,288
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$865,760
$865.8K
Cap Rate 7%
$618,400
$618.4K
Cap Rate 9%
$480,978
$481.0K
Market Conditions
NOI Build-Up for 3,305 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$65.4K $19.80/SF
− Vacancy
−$3.6K −$1.09/SF
EGI
$61.8K $18.71/SF
− OpEx
−$18.6K −$5.61/SF
NOI
$43.3K $13.10/SF
Area
Houston, TX
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$865,760
Cap Rate 7%
$618,400
Cap Rate 9%
$480,978
Alternative Uses
Best Use
Multifamily LT 5
$618.4K
$541.1K – $721.5K
NOI $43,288 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$534.9K
$468.0K – $624.1K
NOI $37,443 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$849.9K
$743.6K – $991.5K
NOI $59,490 @ 7.0% cap · market cap 5.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
964
Businesses Nearby
Explore this area
Business Placement
Demographics for 77009, TX
36,425
Population
17,890
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
78%
High-School Grad
6.2 sq mi
ZIP Area
5,875
Density / Sq Mi
$81,921
Median Household Income
$49,446
Median Earnings
$1,229
Median Rent
$403,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Completely renovated furnished triplex with private entrances, full kitchens, and fenced grounds with six parking spaces.
Where is this triplex located?
The property is located at 1015 Brooks St Houston, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Completely renovated, furnished triplex with private entrances, full kitchens, and fenced grounds; Three units combine to sleep up to 26 guests; Unit 1 is a 1,962 SF single‑family home with 5 beds/5 baths plus study and in‑unit washer/dryer
