Five-Townhome Apartment
New
For Sale
$1,690,000
1111 Autrey St Unit 5, Houston, TX 77006
Remodeled multifamily complex in Houston’s Museum District with private patios, garages, and full appliance packages.
Property Size7,716 SF
Price / SF$219.03
Days on Market2
Property Features for 1111 Autrey St Unit 5
General Information
Standard status
Active
Size
7,716 SF
Property subtype
Multi-Family
Units
Unit Mix
5 x 2BR/2.5BA
Multifamily Units
5
Amenities
Central HVAC System
Garage
Private Outdoor Patio
Wood Floors
Full Suite of Appliances including Washer and Dryer
Building Details
Year Built
1975
Buildings
5
Listing Agency:
Walzel Properties - Galleria
Listed By:
Chidozie Osueke
(302) 503-2137
Source:
Nova-era
Added: Sep 9
Last Checked: Sep 9 at 3:47PM
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 Walzel Properties - Galleria
Investment Insights
Based on property information with market context.
Built in 1975, this 7,716-square-foot multifamily property comprises five separate townhomes and has been recently remodeled. Each residence includes two bedrooms, 2.5 bathrooms, central HVAC, a garage, a private outdoor patio, wood flooring, and a full appliance package with a washer and dryer.
The property is located in Houston’s Museum District, about one mile from Hermann Park Golf Course, Rice University, and the Houston Medical Center. Its townhome configuration provides distinct residential spaces within a single multifamily complex, supported by consistent features across all five residences.
The property is located in Houston’s Museum District, about one mile from Hermann Park Golf Course, Rice University, and the Houston Medical Center. Its townhome configuration provides distinct residential spaces within a single multifamily complex, supported by consistent features across all five residences.
Key Highlights
- Five separate townhomes within one multifamily complex
- 7,716 square feet; built in 1975
- Recently remodeled multifamily property
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
$87,416
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
5.17%
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%
$1,748,320
$1.7M
Cap Rate 7%
$1,248,800
$1.2M
Cap Rate 9%
$971,289
$971.3K
Market Conditions
NOI Build-Up for 7,716 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
$169.4K $21.96/SF
− Vacancy
−$10.5K −$1.36/SF
EGI
$158.9K $20.60/SF
− OpEx
−$71.5K −$9.27/SF
NOI
$87.4K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,748,320
Cap Rate 7%
$1,248,800
Cap Rate 9%
$971,289
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,416 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.98M
$1.74M – $2.31M
NOI $138,888 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,627
Businesses Nearby
Explore this area
Business Placement
Demographics for 77006, TX
24,129
Population
16,654
Households
1.4
Avg Household Size
36
Median Age
80%
College-Educated
98%
High-School Grad
2.3 sq mi
ZIP Area
10,491
Density / Sq Mi
$102,003
Median Household Income
$73,275
Median Earnings
$1,761
Median Rent
$599,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Remodeled multifamily complex in Houston’s Museum District with private patios, garages, and full appliance packages.
Where is this apartment building located?
The property is located at 1111 Autrey St Unit 5 Houston, TX.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Five separate townhomes within one multifamily complex; 7,716 square feet; built in 1975; Recently remodeled multifamily property
