Triplex with New
For Sale
$264,900
4406 Allen St, Houston, TX 77007
Three-unit property with varied bedroom configurations and month-to-month leases.
Property Size1,787 SF
Price / SF$148.24
Days on Market45
Property Features for 4406 Allen St
General Information
Standard status
Active
Size
1,787 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
needs some TLC
Units
Unit Mix
1 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1920
Listing Agency:
Nan & Company Properties- Cypress Office
Listed By:
Jenny Correa, Gabrielle Correa · License #0519842
(281) 935-4838
Source:
Doorstephomegroup
Added: Aug 7
Changed: Sep 19
Last Checked: Sep 5 at 4:40AM
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 Nan & Company Properties- Cypress Office
Investment Insights
Based on property information with market context.
This Houston triplex contains three residential units arranged as one two-bedroom, one-bath unit and two one-bedroom, one-bath units. A new roof is in place, while the property requires some TLC for continued improvement. All tenants are currently on month-to-month leases, providing flexibility for future planning.
The property is located at 4406 Allen St, with downtown Houston just minutes away. Shopping, dining, and entertainment are accessible from the property, adding convenience for residents and supporting its location within the city.
The property is located at 4406 Allen St, with downtown Houston just minutes away. Shopping, dining, and entertainment are accessible from the property, adding convenience for residents and supporting its location within the city.
Key Highlights
- Three residential units with one 2‑bed/1‑bath and two 1‑bed/1‑bath layouts
- New roof in place
- All tenants currently occupy month‑to‑month leases
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
$23,406
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
8.84%
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%
$468,120
$468.1K
Cap Rate 7%
$334,371
$334.4K
Cap Rate 9%
$260,067
$260.1K
Market Conditions
NOI Build-Up for 1,787 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
$35.4K $19.80/SF
− Vacancy
−$1.9K −$1.09/SF
EGI
$33.4K $18.71/SF
− OpEx
−$10.0K −$5.61/SF
NOI
$23.4K $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%
$468,120
Cap Rate 7%
$334,371
Cap Rate 9%
$260,067
Alternative Uses
Best Use
Multifamily LT 5
$334.4K
$292.6K – $390.1K
NOI $23,406 @ 7.0% cap · market cap 8.84%
Second Best
Apartment 5plus
$289.2K
$253.1K – $337.4K
NOI $20,245 @ 7.0% cap · market cap 7.64%
Theoretical Best
Office A
$459.5K
$402.1K – $536.1K
NOI $32,166 @ 7.0% cap · market cap 12.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,116
Businesses Nearby
Explore this area
Business Placement
Demographics for 77007, TX
42,908
Population
26,281
Households
1.6
Avg Household Size
34
Median Age
80%
College-Educated
99%
High-School Grad
7.5 sq mi
ZIP Area
5,721
Density / Sq Mi
$140,878
Median Household Income
$92,408
Median Earnings
$1,951
Median Rent
$501,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with varied bedroom configurations and month-to-month leases.
Where is this triplex located?
The property is located at 4406 Allen St Houston, TX.
What is the asking price?
The asking price for this property is $264,900.
What are key features of this property?
This property features: Three residential units with one 2‑bed/1‑bath and two 1‑bed/1‑bath layouts; New roof in place; All tenants currently occupy month‑to‑month leases
