Three-Unit Residential Income
For Sale
$870,000
100 Northpoint Dr Building 4, Houston, TX 77060
Newly constructed 3-plex is under development with three two-story residences, each featuring 3 bedrooms and 2.5 bathrooms.
Property Size4,140 SF
Days on Market67
Property Features for 100 Northpoint Dr Building 4
General Information
Standard status
Active
Size
4,140 SF
Total Parking Spaces
9
Property subtype
Investment
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Multifamily Units
3
Amenities
gated community
dog park
kids park
back porch
private fenced yard
Building Details
Building Size
4,140 SF
Stories
2
Units
3
Tenancy
Multi
Listing Agency:
Ernesto Grey
(832) 888-3321
Listed By:
Ernesto Grey · License #0591229
(832) 888-3321
Source:
Elliman
Added: Jun 17
Changed: Aug 14
Last Checked: Aug 22 at 7:44AM
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 Ernesto Grey
Investment Insights
Based on property information with market context.
Vintage At Northpoint is a new development under construction consisting of 11 buildings with three apartments per building. This offering is Building 4, a three-unit residential income building (3-plex). Each apartment is planned as a two-story layout with three bedrooms and 2.5 bathrooms, including an open U-shaped kitchen and living area with granite countertops. All appliances are included, and each unit is designed to be ready for move-in upon completion. Outdoor space is planned with a back porch and a private fenced back yard.
The community is described as gated, with onsite amenities that include a fenced dog park and a kid’s park. Parking is planned for each apartment with three spaces: one attached, one driveway space, and one additional overflow space.
Construction timing noted for the development indicates the first building should be completed by the end of 2026.
The community is described as gated, with onsite amenities that include a fenced dog park and a kid’s park. Parking is planned for each apartment with three spaces: one attached, one driveway space, and one additional overflow space.
Construction timing noted for the development indicates the first building should be completed by the end of 2026.
Key Highlights
- Vintage At Northpoint under construction: 11 new buildings, each with 3 apartments (3plexes).
- Each apartment is a two‑story 3 bed/2.5 bath with an open “U” shape kitchen and living area.
- Granite countertops and all appliances are included in each apartment.
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
$54,224
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
6.23%
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%
$1,084,480
$1.1M
Cap Rate 7%
$774,629
$774.6K
Cap Rate 9%
$602,489
$602.5K
Market Conditions
NOI Build-Up for 4,140 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
$82.0K $19.80/SF
− Vacancy
−$4.5K −$1.09/SF
EGI
$77.5K $18.71/SF
− OpEx
−$23.2K −$5.61/SF
NOI
$54.2K $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%
$1,084,480
Cap Rate 7%
$774,629
Cap Rate 9%
$602,489
Alternative Uses
Best Use
Multifamily LT 5
$774.6K
$677.8K – $903.7K
NOI $54,224 @ 7.0% cap · market cap 6.23%
Second Best
Apartment 5plus
$670.0K
$586.3K – $781.7K
NOI $46,903 @ 7.0% cap · market cap 5.39%
Theoretical Best
Office A
$1.06M
$931.5K – $1.24M
NOI $74,520 @ 7.0% cap · market cap 8.57%
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
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,896
Businesses Nearby
Explore this area
Business Placement
Demographics for 77060, TX
42,707
Population
16,660
Households
2.6
Avg Household Size
29
Median Age
7%
College-Educated
55%
High-School Grad
8.1 sq mi
ZIP Area
5,272
Density / Sq Mi
$37,843
Median Household Income
$26,278
Median Earnings
$1,024
Median Rent
$144,900
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 - Newly constructed 3-plex is under development with three two-story residences, each featuring 3 bedrooms and 2.5 bathrooms.
Where is this triplex located?
The property is located at 100 Northpoint Dr Building 4 Houston, TX.
What is the asking price?
The asking price for this property is $870,000.
What are key features of this property?
This property features: Vintage At Northpoint under construction: 11 new buildings, each with 3 apartments (3plexes).; Each apartment is a two‑story 3 bed/2.5 bath with an open “U” shape kitchen and living area.; Granite countertops and all appliances are included in each apartment.
