Hyde Park Area
For Sale
$925,000
1313 Peden St, Houston, TX 77006
Well-maintained fourplex near Hyde Park with active leases.
Property Size2,686 SF
Lot Size0.14 Acres
Days on Market178
Property Features for 1313 Peden St
General Information
Standard status
Active
Size
2,686 SF
Lot size
0.14 Acres
Property subtype
Investment
Lease Term
12 months
Taxes and HOA fees
Annual Taxes
$19,983
Building Details
Building Size
2,686 SF
Year Built
1930
Stories
2
Units
1
Listed By:
Michael Overbey
(832) 725-8995
Source:
Elliman
Added: Mar 10
Changed: Aug 31
Last Checked: Sep 1 at 9:46PM
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 Michael Overbey
Investment Insights
Based on property information with market context.
This well-maintained fourplex is situated near Hyde Park, Montrose, Midtown and Courtlandt Place. The property is fully occupied with active leases. A gated parking area and off-street parking are notable features. Downstairs units have two entrances. An on-property utility room is available. A new tankless water heater supplies hot water to the fourplex. The tenants are described as quiet and professional.
Key Highlights
- Prime Location: Close to Hyde Park, Montrose, Midtown, and Courtlandt Place
- Fully Occupied: Generating immediate rental income
- Off‑Street Parking: A highly desirable amenity
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
$35,180
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
3.80%
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%
$703,600
$703.6K
Cap Rate 7%
$502,571
$502.6K
Cap Rate 9%
$390,889
$390.9K
Market Conditions
NOI Build-Up for 2,686 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
$53.2K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$50.3K $18.71/SF
− OpEx
−$15.1K −$5.61/SF
NOI
$35.2K $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%
$703,600
Cap Rate 7%
$502,571
Cap Rate 9%
$390,889
Alternative Uses
Best Use
Multifamily LT 5
$502.6K
$439.8K – $586.3K
NOI $35,180 @ 7.0% cap · market cap 3.80%
Second Best
Apartment 5plus
$434.7K
$380.4K – $507.2K
NOI $30,430 @ 7.0% cap · market cap 3.29%
Theoretical Best
Office A
$690.7K
$604.4K – $805.8K
NOI $48,348 @ 7.0% cap · market cap 5.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,675
Businesses Nearby
Explore this area
Business Placement
Demographics for 77006, TX
24,129
Population
16,654
Households
1.4
Avg Household Size
36
Median Age
80%
College-Educated
98%
High-School Grad
2.3 sq mi
ZIP Area
10,491
Density / Sq Mi
$102,003
Median Household Income
$73,275
Median Earnings
$1,761
Median Rent
$599,500
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?
Quadplex - Well-maintained fourplex near Hyde Park with active leases.
Where is this quadplex located?
The property is located at 1313 Peden St Houston, TX.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Prime Location: Close to Hyde Park, Montrose, Midtown, and Courtlandt Place; Fully Occupied: Generating immediate rental income; Off‑Street Parking: A highly desirable amenity
