10-Unit Apartment
New
For Sale
$900,000
26 Farrell St 10, Houston, TX 77022
The low-rise property contains individual one-bedroom apartments and dedicated off-street parking.
Property Size6,826 SF
Days on Market2
Property Features for 26 Farrell St 10
General Information
Standard status
Active
Size
6,826 SF
Property subtype
Investment
Units
Unit Mix
10 x 1BR/1BA
Multifamily Units
10
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$19,934
Building Details
Building Size
6,826 SF
Year Built
1964
Buildings
1
Stories
1
Units
1
Listing Agency:
Champions NextGen Real Estate
Listed By:
Ketul Patel
(832) 659-9611
Source:
Elliman
Added: Sep 26
Changed: Sep 27
Last Checked: Sep 27 at 2:00AM
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 Champions NextGen Real Estate
Investment Insights
Based on property information with market context.
At 26 Farrell St in Houston, this low-rise apartment property contains 10 units, each configured with one bedroom and one bathroom. The building dates to 1964 and has dedicated off-street parking.
The property is less than a mile from Northline Transit Center and a stated 10 minutes from the University of Houston-Downtown.
The property is less than a mile from Northline Transit Center and a stated 10 minutes from the University of Houston-Downtown.
Key Highlights
- 10 apartments, each with one bedroom and one bathroom
- Low‑rise building constructed in 1964
- Dedicated off‑street 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
$77,333
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
8.59%
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%
$1,546,660
$1.5M
Cap Rate 7%
$1,104,757
$1.1M
Cap Rate 9%
$859,256
$859.3K
Market Conditions
NOI Build-Up for 6,826 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
$149.9K $21.96/SF
− Vacancy
−$9.3K −$1.36/SF
EGI
$140.6K $20.60/SF
− OpEx
−$63.3K −$9.27/SF
NOI
$77.3K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,546,660
Cap Rate 7%
$1,104,757
Cap Rate 9%
$859,256
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$966.7K – $1.29M
NOI $77,333 @ 7.0% cap · market cap 8.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $122,868 @ 7.0% cap · market cap 13.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
10
Residential units
Location Intelligence
Trade Area within ½ mile
1,071
Businesses Nearby
Explore this area
Business Placement
Demographics for 77022, TX
28,748
Population
10,717
Households
2.7
Avg Household Size
35
Median Age
13%
College-Educated
63%
High-School Grad
5.8 sq mi
ZIP Area
4,957
Density / Sq Mi
$48,386
Median Household Income
$28,877
Median Earnings
$1,047
Median Rent
$197,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - The low-rise property contains individual one-bedroom apartments and dedicated off-street parking.
Where is this apartment building located?
The property is located at 26 Farrell St 10 Houston, TX.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 10 apartments, each with one bedroom and one bathroom; Low‑rise building constructed in 1964; Dedicated off‑street parking
