Triplex with Potential Fourth
For Sale
$529,000
2706 Isabella St, Houston, TX 77004
Triplex with three separate residential units and the possibility to add a fourth studio unit, subject to verification.
Property Size2,674 SF
Days on Market26
Property Features for 2706 Isabella St
General Information
Standard status
Active
Size
2,674 SF
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,740
Building Details
Building Size
2,674 SF
Year Built
1930
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
THE SEARS GROUP
(832) 620-9281
Listed By:
Sabika Jafri
(832) 620-9281
Source:
Elliman
Added: Jul 19
Changed: Aug 8
Last Checked: Aug 12 at 10:11AM
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 THE SEARS GROUP
Investment Insights
Based on property information with market context.
This triplex consists of three separate residential units. The property also offers the possibility of adding a fourth studio apartment unit, subject to buyer verification, zoning, and permitting.
The home is located in Houston with easy access to US-59, I-45, and I-288. It is minutes from Downtown, the Texas Medical Center, and major universities. WalkScore is listed as 73 (Very Walkable) and bikeScore as 80 (Very Bikeable), with a transitScore of 55 (Good Transit).
Per the remarks, the property is zoned for residential or mixed-use use and has no HOA fees. The current configuration supports income from the existing units while allowing a buyer to evaluate expansion options.
The home is located in Houston with easy access to US-59, I-45, and I-288. It is minutes from Downtown, the Texas Medical Center, and major universities. WalkScore is listed as 73 (Very Walkable) and bikeScore as 80 (Very Bikeable), with a transitScore of 55 (Good Transit).
Per the remarks, the property is zoned for residential or mixed-use use and has no HOA fees. The current configuration supports income from the existing units while allowing a buyer to evaluate expansion options.
Key Highlights
- Triplex built in 1930 with 3 separate residential units
- Potential to add a fourth studio unit, subject to buyer verification, zoning, and permits
- Zoned for residential or mixed‑use use; no HOA fees reported
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
$35,023
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
6.62%
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%
$700,460
$700.5K
Cap Rate 7%
$500,329
$500.3K
Cap Rate 9%
$389,144
$389.1K
Market Conditions
NOI Build-Up for 2,674 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
$52.9K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$50.0K $18.71/SF
− OpEx
−$15.0K −$5.61/SF
NOI
$35.0K $13.10/SF
Area
Houston, TX
Vacancy
5.50%
Lease Rate
$19.80 /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%
$700,460
Cap Rate 7%
$500,329
Cap Rate 9%
$389,144
Alternative Uses
Best Use
Multifamily LT 5
$500.3K
$437.8K – $583.7K
NOI $35,023 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$432.8K
$378.7K – $504.9K
NOI $30,294 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$687.6K
$601.7K – $802.2K
NOI $48,132 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,015
Businesses Nearby
Explore this area
Business Placement
Demographics for 77004, TX
37,005
Population
18,321
Households
2
Avg Household Size
31
Median Age
57%
College-Educated
96%
High-School Grad
5.2 sq mi
ZIP Area
7,116
Density / Sq Mi
$65,901
Median Household Income
$55,909
Median Earnings
$1,320
Median Rent
$384,100
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 - Triplex with three separate residential units and the possibility to add a fourth studio unit, subject to verification.
Where is this triplex located?
The property is located at 2706 Isabella St Houston, TX.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Triplex built in 1930 with 3 separate residential units; Potential to add a fourth studio unit, subject to buyer verification, zoning, and permits; Zoned for residential or mixed‑use use; no HOA fees reported
