Remodeled Unit with Paid
For Sale
$100,000
4500 Sherwood Ln 10, Houston, TX 77092
Updated unit near Galleria; HOA covers all bills.
Property Size646 SF
Lot Size1.39 Acres
Days on Market267
Property Features for 4500 Sherwood Ln 10
General Information
Standard status
Active
Size
646 SF
Lot size
1.39 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$936
Building Details
Building Size
646 SF
Year Built
1970
Stories
1
Listing Agency:
Soluna Realty
(409) 767-0315
Listed By:
Roger Pallas-Nieto
(409) 767-0315
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 16
Last Checked: Aug 22 at 8:47AM
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 Soluna Realty
Investment Insights
Based on property information with market context.
This remodeled unit features an updated kitchen with new cabinets, fancy granite countertops, a deep single sink bowl, and GE slate appliances. The flooring is wood-look throughout. The bathroom includes a walk-in shower with a tempered glass shower door, a modern bath vanity, and Italian 'Carrara' marble rectified tile. A new LG stackable washer and dryer are included. The unit has two balconies and one assigned covered parking space. Located near the intersection of 610 and 290, it is approximately 10 minutes from the Galleria area. The air conditioning unit was replaced in 2022. The community is small and quiet, with a pool. The HOA fees cover all bills.
Key Highlights
- HOA fees cover all bills paid
- Completely remodeled unit with modern finishes**
- Updated kitchen with new cabinets, granite countertops, and GE slate appliances
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
$7,319
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
7.32%
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%
$146,380
$146.4K
Cap Rate 7%
$104,557
$104.6K
Cap Rate 9%
$81,322
$81.3K
Market Conditions
NOI Build-Up for 646 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
$14.2K $21.96/SF
− Vacancy
−$880 −$1.36/SF
EGI
$13.3K $20.60/SF
− OpEx
−$6.0K −$9.27/SF
NOI
$7.3K $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%
$146,380
Cap Rate 7%
$104,557
Cap Rate 9%
$81,322
Alternative Uses
Best Use
Apartment 5plus
$104.6K
$91.5K – $122.0K
NOI $7,319 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$166.1K
$145.4K – $193.8K
NOI $11,628 @ 7.0% cap · market cap 11.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,347
Businesses Nearby
Explore this area
Business Placement
Demographics for 77092, TX
34,903
Population
16,158
Households
2.2
Avg Household Size
34
Median Age
27%
College-Educated
75%
High-School Grad
8.1 sq mi
ZIP Area
4,309
Density / Sq Mi
$56,741
Median Household Income
$34,895
Median Earnings
$1,228
Median Rent
$222,800
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 - Updated unit near Galleria; HOA covers all bills.
Where is this apartment building located?
The property is located at 4500 Sherwood Ln 10 Houston, TX.
What is the asking price?
The asking price for this property is $100,000.
What are key features of this property?
This property features: HOA fees cover all bills paid; Completely remodeled unit with modern finishes**; Updated kitchen with new cabinets, granite countertops, and GE slate appliances
