Condo with Pool
For Sale
$162,000
5050 Glenmont Dr F5, Houston, TX 77081
Well-maintained condo near Galleria with easy highway access.
Property Size990 SF
Lot Size2.34 Acres
Days on Market280
Property Features for 5050 Glenmont Dr F5
General Information
Standard status
Active
Size
990 SF
Lot size
2.34 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$3,532
Building Details
Building Size
990 SF
Year Built
1978
Stories
2
Listed By:
Donna Owens
(713) 417-8224
Source:
Elliman
Added: Nov 28, 2025
Changed: Sep 2
Last Checked: Sep 1 at 9:48PM
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 Donna Owens
Investment Insights
Based on property information with market context.
This well-maintained condo offers a view of the pool and is conveniently located minutes from Highway 59, the Galleria, and Bellaire, providing easy access to shopping, dining, and entertainment. The property includes solar screens on most sliding glass doors and energy-efficient double-paned windows. The kitchen offers excellent storage space, with additional storage areas on both the front and back patios, as well as extra storage under the stairs. The assigned covered parking spot is located right outside the back gate. Appliances including the kitchen refrigerator, washer, and dryer are all included. A new front fence installation is set to begin on Monday, October 13, 2025. Room dimensions are approximate, and school information should be verified.
Key Highlights
- Pool view and proximity.
- Energy‑efficient double‑paned windows and solar screens.
- Excellent storage space including kitchen, patios, and under stairs.
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
$11,216
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
6.92%
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%
$224,320
$224.3K
Cap Rate 7%
$160,229
$160.2K
Cap Rate 9%
$124,622
$124.6K
Market Conditions
NOI Build-Up for 990 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
$21.7K $21.96/SF
− Vacancy
−$1.3K −$1.36/SF
EGI
$20.4K $20.60/SF
− OpEx
−$9.2K −$9.27/SF
NOI
$11.2K $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%
$224,320
Cap Rate 7%
$160,229
Cap Rate 9%
$124,622
Alternative Uses
Best Use
Apartment 5plus
$160.2K
$140.2K – $186.9K
NOI $11,216 @ 7.0% cap · market cap 6.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$254.6K
$222.8K – $297.0K
NOI $17,820 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,941
Businesses Nearby
Explore this area
Business Placement
Demographics for 77081, TX
48,293
Population
21,245
Households
2.3
Avg Household Size
30
Median Age
19%
College-Educated
55%
High-School Grad
3.3 sq mi
ZIP Area
14,634
Density / Sq Mi
$42,228
Median Household Income
$27,982
Median Earnings
$990
Median Rent
$245,200
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?
Apartment building - Well-maintained condo near Galleria with easy highway access.
Where is this apartment building located?
The property is located at 5050 Glenmont Dr F5 Houston, TX.
What is the asking price?
The asking price for this property is $162,000.
What are key features of this property?
This property features: Pool view and proximity.; Energy‑efficient double‑paned windows and solar screens.; Excellent storage space including kitchen, patios, and under stairs.
