Three Unit Multifamily
For Sale
$310,000
1905 9th Street, Galena Park, TX 77547
Three freestanding units, currently leased, generating cash flow.
Property Size3,100 SF
Days on Market383
Property Features for 1905 9th Street
General Information
Standard status
Active
Size
3,100 SF
Property subtype
Multi Family,Multiple Detached Dwellings
Taxes and HOA fees
Annual Taxes
$8,549
Building Details
Building Size
3,100 SF
Year Built
1958
Listing Agency:
eXp Realty LLC
(281) 949-6362
Listed By:
Jimmy Franklin
(281) 949-6362
Source:
Mpowerrealtygroup
Added: Aug 7, 2025
Changed: Aug 23
Last Checked: Aug 24 at 1:32PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This property features three freestanding units, offering an investment opportunity with existing leases in place. The property generates a cash flow of $3000 per month. Two of the units include 3 bedrooms and 2 full baths each. The remaining unit has 2 bedrooms and 2 full baths. The location provides convenient access to both I-10 and 610.
Key Highlights
- Cash flowing $3000 per month.
- Three freestanding units.
- Two units feature 3 bedrooms, 2 full baths.
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
$23,689
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
7.64%
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%
$473,780
$473.8K
Cap Rate 7%
$338,414
$338.4K
Cap Rate 9%
$263,211
$263.2K
Market Conditions
NOI Build-Up for 3,100 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
$37.2K $12.00/SF
− Vacancy
−$3.4K −$1.08/SF
EGI
$33.8K $10.92/SF
− OpEx
−$10.2K −$3.27/SF
NOI
$23.7K $7.64/SF
Area
Harris County, TX
Vacancy
9.03%
Lease Rate
$12.00 /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%
$473,780
Cap Rate 7%
$338,414
Cap Rate 9%
$263,211
Alternative Uses
Best Use
Multifamily LT 5
$338.4K
$296.1K – $394.8K
NOI $23,689 @ 7.0% cap · market cap 7.64%
Second Best
Apartment 5plus
$293.6K
$256.9K – $342.6K
NOI $20,553 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$846.5K
$740.7K – $987.5K
NOI $59,252 @ 7.0% cap · market cap 19.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 77547, TX
9,627
Population
2,928
Households
3.3
Avg Household Size
31
Median Age
9%
College-Educated
68%
High-School Grad
3.9 sq mi
ZIP Area
2,468
Density / Sq Mi
$53,854
Median Household Income
$30,171
Median Earnings
$1,099
Median Rent
$109,100
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?
Triplex - Three freestanding units, currently leased, generating cash flow.
Where is this triplex located?
The property is located at 1905 9th Street Galena Park, TX.
What is the asking price?
The asking price for this property is $310,000.
What are key features of this property?
This property features: Cash flowing $3000 per month.; Three freestanding units.; Two units feature 3 bedrooms, 2 full baths.
