Fourplex With Modern
New
For Sale
$770,000
4114 Lamar St, Houston, TX 77023
Historic four-unit property with updated interiors, private utility metering, covered outdoor space, and dedicated parking.
Property Size3,804 SF
Days on Market6
Property Features for 4114 Lamar St
General Information
Standard status
Active
Size
3,804 SF
Property subtype
Investment
Lease Term
12 months
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$16,058
Amenities
Washer/Dryers
Granite Countertops
Stainless Steel appliances
Central AC
Digital Thermostats
Fenced backyard
Pergola-covered wooden deck
Individual electrical and water meters
Building Details
Building Size
3,804 SF
Year Built
1935
Buildings
1
Stories
2
Units
1
Listing Agency:
Prime Horizon Realty
Listed By:
Mitra Saghafi · License #0633952
(281) 844-6151
Source:
Elliman
Added: Sep 18
Changed: Sep 21
Last Checked: Sep 22 at 7:17PM
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 Prime Horizon Realty
Investment Insights
Based on property information with market context.
Built in 1935, this fourplex contains four units, each configured with two bedrooms and one bathroom. Interior features include in-unit washers and dryers, granite countertops, stainless steel appliances, central AC, digital thermostats, and energy-efficient elements. Each residence has separate electrical and water metering, along with two parking spaces.
The property includes a fenced backyard with a pergola-covered wooden deck. It is located in EaDo at 4114 Lamar St, approximately 1–2 miles from Downtown Houston, Minute Maid Park, Toyota Center, PNC Arena, and Discovery Green Park. The location also provides access to the Medical Center and records a bike score of 80, walk score of 79, and transit score of 61.
The property includes a fenced backyard with a pergola-covered wooden deck. It is located in EaDo at 4114 Lamar St, approximately 1–2 miles from Downtown Houston, Minute Maid Park, Toyota Center, PNC Arena, and Discovery Green Park. The location also provides access to the Medical Center and records a bike score of 80, walk score of 79, and transit score of 61.
Key Highlights
- Fourplex built in 1935
- Each unit offers 2 bedrooms and 1 bathroom
- Washer and dryer, granite countertops, stainless steel appliances, and central AC in each unit
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
$49,824
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
6.47%
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%
$996,480
$996.5K
Cap Rate 7%
$711,771
$711.8K
Cap Rate 9%
$553,600
$553.6K
Market Conditions
NOI Build-Up for 3,804 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
$75.3K $19.80/SF
− Vacancy
−$4.1K −$1.09/SF
EGI
$71.2K $18.71/SF
− OpEx
−$21.4K −$5.61/SF
NOI
$49.8K $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%
$996,480
Cap Rate 7%
$711,771
Cap Rate 9%
$553,600
Alternative Uses
Best Use
Multifamily LT 5
$711.8K
$622.8K – $830.4K
NOI $49,824 @ 7.0% cap · market cap 6.47%
Second Best
Apartment 5plus
$615.7K
$538.7K – $718.3K
NOI $43,096 @ 7.0% cap · market cap 5.60%
Theoretical Best
Office A
$978.2K
$855.9K – $1.14M
NOI $68,472 @ 7.0% cap · market cap 8.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Explore this area
Business Placement
Demographics for 77023, TX
26,780
Population
11,850
Households
2.3
Avg Household Size
36
Median Age
24%
College-Educated
75%
High-School Grad
5.5 sq mi
ZIP Area
4,869
Density / Sq Mi
$50,018
Median Household Income
$35,730
Median Earnings
$1,079
Median Rent
$279,300
Median Home Value
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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 - Historic four-unit property with updated interiors, private utility metering, covered outdoor space, and dedicated parking.
Where is this quadplex located?
The property is located at 4114 Lamar St Houston, TX.
What is the asking price?
The asking price for this property is $770,000.
What are key features of this property?
This property features: Fourplex built in 1935; Each unit offers 2 bedrooms and 1 bathroom; Washer and dryer, granite countertops, stainless steel appliances, and central AC in each unit
