Remodeled Quadplex with
New
For Sale
$515,000
521 Wisconsin St Unit 4, South Houston, TX 77587
Fully leased four-unit property with updated interiors, recent exterior work, and dedicated on-site parking.
Property Size4,166 SF
Price / SF$123.62
Days on Market2
Property Features for 521 Wisconsin St Unit 4
General Information
Standard status
Active
Size
4,166 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Parking per Unit
2
Additional Details
Highway Access
Yes
Building Details
Year Built
1985
Buildings
1
Listing Agency:
Compass RE Texas, LLC - Houston
Listed By:
Kathie Garza
(832) 797-0792
Source:
Nova-era
Added: Sep 10
Last Checked: Sep 11 at 11:39AM
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 Compass RE Texas, LLC - Houston
Investment Insights
Based on property information with market context.
Built in 1985, this four-unit residential income property contains approximately 4,166 square feet. Each residence offers two bedrooms and one-and-a-half bathrooms, with about 1000sft per unit and an open kitchen-and-living arrangement. Three units have been remodeled, while exterior improvements were completed in 2022. A newer electrical panel adds to the recent property updates.
The property is fully occupied and includes on-site parking allocated at two spaces per unit. Its setting provides access to nearby schools, I-45, and Beltway 8, with Hobby Airport approximately 10 minutes away.
The property is fully occupied and includes on-site parking allocated at two spaces per unit. Its setting provides access to nearby schools, I-45, and Beltway 8, with Hobby Airport approximately 10 minutes away.
Key Highlights
- Four‑unit property totaling 4,166 square feet
- Each unit includes 2 bedrooms and 1.5 baths
- About 1000sft per unit with open kitchen and living areas
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
$31,834
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
6.18%
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%
$636,680
$636.7K
Cap Rate 7%
$454,771
$454.8K
Cap Rate 9%
$353,711
$353.7K
Market Conditions
NOI Build-Up for 4,166 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
$50.0K $12.00/SF
− Vacancy
−$4.5K −$1.08/SF
EGI
$45.5K $10.92/SF
− OpEx
−$13.6K −$3.27/SF
NOI
$31.8K $7.64/SF
Area
Harris County, TX
Vacancy
9.03%
Lease Rate
$12.00 /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%
$636,680
Cap Rate 7%
$454,771
Cap Rate 9%
$353,711
Alternative Uses
Best Use
Multifamily LT 5
$454.8K
$397.9K – $530.6K
NOI $31,834 @ 7.0% cap · market cap 6.18%
Second Best
Apartment 5plus
$394.6K
$345.3K – $460.4K
NOI $27,621 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$1.14M
$995.3K – $1.33M
NOI $79,627 @ 7.0% cap · market cap 15.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
Explore this area
Business Placement
Demographics for 77587, TX
16,179
Population
5,549
Households
2.9
Avg Household Size
32
Median Age
9%
College-Educated
60%
High-School Grad
3.1 sq mi
ZIP Area
5,219
Density / Sq Mi
$52,407
Median Household Income
$30,669
Median Earnings
$1,174
Median Rent
$177,000
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?
Quadplex - Fully leased four-unit property with updated interiors, recent exterior work, and dedicated on-site parking.
Where is this quadplex located?
The property is located at 521 Wisconsin St Unit 4 South Houston, TX.
What is the asking price?
The asking price for this property is $515,000.
What are key features of this property?
This property features: Four‑unit property totaling 4,166 square feet; Each unit includes 2 bedrooms and 1.5 baths; About 1000sft per unit with open kitchen and living areas
