Section 8-Approved
For Sale
$599,000
1210 Wafer St 4, Pasadena, TX 77506
Four-unit residential income property with existing Section 8 program approval and a 1971 construction date.
Property Size4,766 SF
Days on Market19
Property Features for 1210 Wafer St 4
General Information
Standard status
Active
Size
4,766 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$11,955
Building Details
Building Size
4,766 SF
Year Built
1971
Stories
2
Units
4
Listing Agency:
RE/MAX Fine Properties
Listed By:
Rella Sanders · License #483402
(713) 302-8098
Source:
Elliman
Added: Sep 19
Changed: Sep 21
Last Checked: Oct 5 at 7:11PM
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 RE/MAX Fine Properties
Investment Insights
Based on property information with market context.
This four-unit residential income property in Pasadena, Texas, was built in 1971 and carries existing approval for the Section 8 program. The asset is identified as a quadplex and includes a mix of two-bedroom and three-bedroom units, although the unit count by bedroom type is not specified.
The property is located at 1210 Wafer St 4, Pasadena, TX 77506. Walk Score is 38, indicating a car-dependent setting, while Bike Score is 45, categorized as somewhat bikeable. The property information also identifies Ratio Utility Billing System implementation as a possible operating strategy for a future owner.
The property is located at 1210 Wafer St 4, Pasadena, TX 77506. Walk Score is 38, indicating a car-dependent setting, while Bike Score is 45, categorized as somewhat bikeable. The property information also identifies Ratio Utility Billing System implementation as a possible operating strategy for a future owner.
Key Highlights
- Four‑unit quadplex
- Approved for the Section 8 program
- Built in 1971
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,277
Cap Rate
9.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,085,540
$1.1M
Cap Rate 7%
$775,386
$775.4K
Cap Rate 9%
$603,078
$603.1K
Market Conditions
NOI Build-Up for 4,766 SF
Gross rent
$82.9K $17.40/SF
− Vacancy
−$5.4K −$1.13/SF
EGI
$77.5K $16.27/SF
− OpEx
−$23.3K −$4.88/SF
NOI
$54.3K $11.39/SF
Area
Pasadena, TX
Vacancy
6.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,085,540
Cap Rate 7%
$775,386
Cap Rate 9%
$603,078
Alternative Uses
Best Use
Multifamily LT 5
$775.4K
$678.5K – $904.6K
NOI $54,277 @ 7.0% cap · market cap 9.06%
Second Best
Apartment 5plus
$697.0K
$609.9K – $813.1K
NOI $48,788 @ 7.0% cap · market cap 8.14%
Theoretical Best
Office A
$1.57M
$1.38M – $1.83M
NOI $110,099 @ 7.0% cap · market cap 18.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,349
Businesses Nearby
Explore this area
Business Placement
Demographics for 77506, TX
34,431
Population
11,973
Households
2.9
Avg Household Size
31
Median Age
5%
College-Educated
57%
High-School Grad
11.3 sq mi
ZIP Area
3,047
Density / Sq Mi
$50,045
Median Household Income
$31,621
Median Earnings
$1,049
Median Rent
$131,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income property with existing Section 8 program approval and a 1971 construction date.
Where is this quadplex located?
The property is located at 1210 Wafer St 4 Pasadena, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Four‑unit quadplex; Approved for the Section 8 program; Built in 1971
