EADO Area Income
For Sale
$326,500
4618 Clay St, Houston, TX 77023
Duplex with detached apartment in Houston's EADO area.
Property Size1,472 SF
Lot Size0.11 Acres
Days on Market270
Property Features for 4618 Clay St
General Information
Standard status
Active
Size
1,472 SF
Lot size
0.11 Acres
Property subtype
Investment
Lease Term
12 months
Taxes and HOA fees
Annual Taxes
$7,467
Building Details
Building Size
1,472 SF
Year Built
1936
Stories
1
Units
1
Listing Agency:
AIM Realty, Inc.
(281) 960-5491
Listed By:
William Klingberg · License #0416425
(281) 960-5491
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 7
Last Checked: Aug 24 at 7:51AM
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 AIM Realty, Inc.
Investment Insights
Based on property information with market context.
This property presents an investor opportunity in the EADO area, featuring a duplex and a separate detached rear apartment. The duplex contains two units, each with one bedroom and one bathroom, along with living and dining areas. Both duplex units feature wood and tile flooring throughout. The detached apartment includes one bedroom, one bathroom, and an open living space adjacent to the kitchen. The roof shingles were replaced in 2025. The property is to be sold in as-is condition with any tenants in place.
Key Highlights
- Investor opportunity: Duplex with additional detached apartment.
- Three total units: Two 1‑bedroom/1‑bath duplex units plus a separate 1‑bedroom/1‑bath apartment.
- Roof shingles replaced in 2025.
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
$19,280
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
5.91%
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%
$385,600
$385.6K
Cap Rate 7%
$275,429
$275.4K
Cap Rate 9%
$214,222
$214.2K
Market Conditions
NOI Build-Up for 1,472 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
$29.1K $19.80/SF
− Vacancy
−$1.6K −$1.09/SF
EGI
$27.5K $18.71/SF
− OpEx
−$8.3K −$5.61/SF
NOI
$19.3K $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%
$385,600
Cap Rate 7%
$275,429
Cap Rate 9%
$214,222
Alternative Uses
Best Use
Multifamily LT 5
$275.4K
$241.0K – $321.3K
NOI $19,280 @ 7.0% cap · market cap 5.91%
Second Best
Apartment 5plus
$238.2K
$208.5K – $278.0K
NOI $16,677 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$378.5K
$331.2K – $441.6K
NOI $26,496 @ 7.0% cap · market cap 8.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
896
Businesses Nearby
Explore this area
Business Placement
Demographics for 77023, TX
26,780
Population
11,850
Households
2.3
Avg Household Size
36
Median Age
24%
College-Educated
75%
High-School Grad
5.5 sq mi
ZIP Area
4,869
Density / Sq Mi
$50,018
Median Household Income
$35,730
Median Earnings
$1,079
Median Rent
$279,300
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?
Duplex - Duplex with detached apartment in Houston's EADO area.
Where is this duplex located?
The property is located at 4618 Clay St Houston, TX.
What is the asking price?
The asking price for this property is $326,500.
What are key features of this property?
This property features: Investor opportunity: Duplex with additional detached apartment.; Three total units: Two 1‑bedroom/1‑bath duplex units plus a separate 1‑bedroom/1‑bath apartment.; Roof shingles replaced in 2025.
