New Construction
New
For Sale
$979,900
5004 Carmen Street A-D, Houston, TX 77033
Two-story multifamily property with open-concept interiors, fireplace features, and island kitchens.
Property Size5,122 SF
Price / SF$191.31
Days on Market6
Property Features for 5004 Carmen Street A-D
General Information
Standard status
Active
Size
5,122 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$2,231
Amenities
Yes
4
6
Builder
6500
Other
5122
Building Details
Building Size
5,122 SF
Year Built
2026
Buildings
1
Stories
2
Listing Agency:
Collective Realty Co.
(832) 334-0001
Listed By:
G.G. Corporate Connect
Source:
Garygreene
Added: Sep 5
Changed: Sep 9
Last Checked: Sep 10 at 5:49AM
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 Collective Realty Co.
Investment Insights
Based on property information with market context.
Completed in 2026, this two-story quadplex is arranged as two duplexes with four total residential units. Each unit features 3 bedrooms and 2 full bathrooms, along with an open-concept living area, modern lighting, custom accent wall detailing, and a fireplace. Kitchens include large islands with seating, while the owner's suites offer vaulted ceilings, decorative paneling, and oversized windows.
The property is located at 5004 Carmen Street in Houston, with access to the Texas Medical Center, Downtown, I-610, and SH-288 described as minutes away. The contemporary exterior incorporates clean lines, pronounced window framing, and expansive glass.
The property is located at 5004 Carmen Street in Houston, with access to the Texas Medical Center, Downtown, I-610, and SH-288 described as minutes away. The contemporary exterior incorporates clean lines, pronounced window framing, and expansive glass.
Key Highlights
- Fourplex completed in 2026
- Two‑story layout with 2 duplexes
- Four units with 3 bedrooms and 2 full bathrooms
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
$67,086
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
6.85%
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%
$1,341,720
$1.3M
Cap Rate 7%
$958,371
$958.4K
Cap Rate 9%
$745,400
$745.4K
Market Conditions
NOI Build-Up for 5,122 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
$101.4K $19.80/SF
− Vacancy
−$5.6K −$1.09/SF
EGI
$95.8K $18.71/SF
− OpEx
−$28.8K −$5.61/SF
NOI
$67.1K $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%
$1,341,720
Cap Rate 7%
$958,371
Cap Rate 9%
$745,400
Alternative Uses
Best Use
Multifamily LT 5
$958.4K
$838.6K – $1.12M
NOI $67,086 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$829.0K
$725.4K – $967.1K
NOI $58,028 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$1.32M
$1.15M – $1.54M
NOI $92,196 @ 7.0% cap · market cap 9.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
471
Businesses Nearby
Explore this area
Business Placement
Demographics for 77033, TX
28,369
Population
10,228
Households
2.8
Avg Household Size
36
Median Age
9%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
4,977
Density / Sq Mi
$37,081
Median Household Income
$28,459
Median Earnings
$1,204
Median Rent
$98,300
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?
Quadplex - Two-story multifamily property with open-concept interiors, fireplace features, and island kitchens.
Where is this quadplex located?
The property is located at 5004 Carmen Street A-D Houston, TX.
What is the asking price?
The asking price for this property is $979,900.
What are key features of this property?
This property features: Fourplex completed in 2026; Two‑story layout with 2 duplexes; Four units with 3 bedrooms and 2 full bathrooms
