Section 8-Approved
1210 Wafer Street # 4, Pasadena, TX 77506
For Sale
$599,000
Four-unit residential income property with existing approval for participation in the Section 8 program.
Property Size4,766 SF
Days on Market54
Property Features for 1210 Wafer Street # 4
General Information
Standard status
Size
Property subtype
Additional Details
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
RE/MAX Fine Properties
Listed By:
Rella Sanders · License TX #483402
(713) 302-8098
Source:
Greenwoodking
Added: Sep 18
Changed: Nov 2
Last Checked: Nov 8 at 2:35PM
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
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Investment Insights
Based on property information with market context.
This four-unit residential income property is located at 1210 Wafer Street #4 in Pasadena, Texas. The quadplex was built in 1971 and is approved for the Section 8 program, providing an established framework for voucher-based occupancy.
The property is presented as a multifamily asset with an existing ownership and management history. Its four-unit configuration and program approval may support continued residential income use, subject to applicable program requirements and operating terms.
The property is presented as a multifamily asset with an existing ownership and management history. Its four-unit configuration and program approval may support continued residential income use, subject to applicable program requirements and operating terms.
Key Highlights
- Four‑unit quadplex configuration
- 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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
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
$131,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in Harris County, TX
Properties on Market for Quadplexes in Harris County
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential income property with existing approval for participation in the Section 8 program.
Where is this quadplex located?
The property is located at 1210 Wafer Street # 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 configuration; Approved for the Section 8 program; Built in 1971
