Remodeled
For Sale
$549,900
6706 Avenue C, Houston, TX 77011
Three separate units were remodeled in 2020, with ample parking and convenient access to public transportation.
Property Size2,116 SF
Days on Market31
Property Features for 6706 Avenue C
General Information
Standard status
Active
Size
2,116 SF
Property subtype
Investment
Lease Term
Weekly
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,503
Building Details
Building Size
2,116 SF
Year Built
1940
Year Renovated
2020
Stories
1
Units
3
Listing Agency:
Texas Premier Realty
Listed By:
David Staggs
(346) 276-0133
Source:
Elliman
Added: Aug 5
Changed: Sep 3
Last Checked: Aug 8 at 9:02AM
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 Texas Premier Realty
Investment Insights
Based on property information with market context.
This triplex contains three separate income-producing units within 2116 square feet. The interiors were extensively remodeled in 2020, providing updated residential spaces across the property. The site also offers ample parking on a generously sized lot.
The property is located in Houston’s East End area near Downtown Houston and the University of Houston. Shopping, dining, and public transportation are nearby, while access to I-45, I-10, and Hwy 59 supports connectivity throughout the surrounding area.
The property is located in Houston’s East End area near Downtown Houston and the University of Houston. Shopping, dining, and public transportation are nearby, while access to I-45, I-10, and Hwy 59 supports connectivity throughout the surrounding area.
Key Highlights
- Three‑unit triplex with 2116 square feet of building area
- All three units were extensively remodeled in 2020
- Generously sized lot with ample parking
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
$27,715
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
5.04%
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%
$554,300
$554.3K
Cap Rate 7%
$395,929
$395.9K
Cap Rate 9%
$307,944
$307.9K
Market Conditions
NOI Build-Up for 2,116 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
$41.9K $19.80/SF
− Vacancy
−$2.3K −$1.09/SF
EGI
$39.6K $18.71/SF
− OpEx
−$11.9K −$5.61/SF
NOI
$27.7K $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%
$554,300
Cap Rate 7%
$395,929
Cap Rate 9%
$307,944
Alternative Uses
Best Use
Multifamily LT 5
$395.9K
$346.4K – $461.9K
NOI $27,715 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$342.5K
$299.7K – $399.6K
NOI $23,973 @ 7.0% cap · market cap 4.36%
Theoretical Best
Office A
$544.1K
$476.1K – $634.8K
NOI $38,088 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,118
Businesses Nearby
Explore this area
Business Placement
Demographics for 77011, TX
16,841
Population
7,366
Households
2.3
Avg Household Size
37
Median Age
10%
College-Educated
59%
High-School Grad
3.4 sq mi
ZIP Area
4,953
Density / Sq Mi
$49,163
Median Household Income
$36,517
Median Earnings
$1,063
Median Rent
$187,100
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 separate units were remodeled in 2020, with ample parking and convenient access to public transportation.
Where is this triplex located?
The property is located at 6706 Avenue C Houston, TX.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Three‑unit triplex with 2116 square feet of building area; All three units were extensively remodeled in 2020; Generously sized lot with ample parking
