Updated Condominium with Granite
For Sale
$450,000
12955 Woodforest Blvd 53, Houston, TX 77015
Recently updated first-floor condominium featuring granite countertops and no carpet.
Property Size3,356 SF
Days on Market285
Property Features for 12955 Woodforest Blvd 53
General Information
Standard status
Active
Size
3,356 SF
Property subtype
Investment
Lease Term
12 months
Taxes and HOA fees
Annual Taxes
$6,814
Building Details
Building Size
3,356 SF
Year Built
1980
Stories
1
Units
1
Listing Agency:
Soluna Realty
Listed By:
Roger Pallas-Nieto
(409) 767-0315
Source:
Elliman
Added: Nov 27, 2025
Changed: Sep 8
Last Checked: Jul 16 at 10:39AM
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 recently updated condominium is located on the first floor and features granite countertops in the kitchen. The unit has no carpet. The building includes a public pool for seasonal use.
Key Highlights
- Recently updated condominium
- First floor unit for easy access
- No carpet throughout
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
$38,021
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
8.45%
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%
$760,420
$760.4K
Cap Rate 7%
$543,157
$543.2K
Cap Rate 9%
$422,456
$422.5K
Market Conditions
NOI Build-Up for 3,356 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
$73.7K $21.96/SF
− Vacancy
−$4.6K −$1.36/SF
EGI
$69.1K $20.60/SF
− OpEx
−$31.1K −$9.27/SF
NOI
$38.0K $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%
$760,420
Cap Rate 7%
$543,157
Cap Rate 9%
$422,456
Alternative Uses
Best Use
Apartment 5plus
$543.2K
$475.3K – $633.7K
NOI $38,021 @ 7.0% cap · market cap 8.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$863.0K
$755.1K – $1.01M
NOI $60,408 @ 7.0% cap · market cap 13.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
220
Businesses Nearby
Explore this area
Business Placement
Demographics for 77015, TX
57,106
Population
19,961
Households
2.9
Avg Household Size
31
Median Age
11%
College-Educated
70%
High-School Grad
20.7 sq mi
ZIP Area
2,759
Density / Sq Mi
$57,324
Median Household Income
$34,477
Median Earnings
$1,169
Median Rent
$164,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Recently updated first-floor condominium featuring granite countertops and no carpet.
Where is this apartment building located?
The property is located at 12955 Woodforest Blvd 53 Houston, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Recently updated condominium; First floor unit for easy access; No carpet throughout
