Updated Quadplex with Rear
For Sale
$633,888
1406 Elliott Street, Houston, TX 77023
The layout includes a front duplex, an upstairs garage apartment, and a rear bungalow.
Property Size3,040 SF
Days on Market70
Property Features for 1406 Elliott Street
General Information
Standard status
Active
Size
3,040 SF
Property subtype
Multi Family,Multiple Detached Dwellings
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 3 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,616
Building Details
Building Size
3,040 SF
Year Built
1935
Listing Agency:
Urban Loop Realty
Listed By:
Pualani Murillo · License #0658694
(281) 795-4145
Source:
Nancyalmodovar
Added: Aug 10
Changed: Oct 5
Last Checked: Oct 16 at 5:51PM
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 Urban Loop Realty
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Investment Insights
Based on property information with market context.
Built in 1935, this four-unit quadplex includes a front duplex, an upstairs garage apartment, and a rear bungalow. The duplex offers one two-bedroom, one-bath unit and one one-bedroom, one-bath unit. The rear apartment is a one-bedroom, one-bath residence, while the bungalow adds another one-bedroom, one-bath layout with an enclosed patio porch and a separate fenced compound. Updates include granite kitchen countertops, extensive cabinetry, fresh interior and exterior paint, laminate flooring in the duplex, and hardwood floors in the apartment.
Each unit has designated parking, and the property provides convenient access to I-45, I-59, 610, I-10, and I-225. Downtown, the University of Houston, the Medical Center, The Rail, and a Metro Transit Station are nearby.
Each unit has designated parking, and the property provides convenient access to I-45, I-59, 610, I-10, and I-225. Downtown, the University of Houston, the Medical Center, The Rail, and a Metro Transit Station are nearby.
Key Highlights
- Four‑unit quadplex with a front duplex, upstairs garage apartment, and rear bungalow
- Front duplex includes 2‑bedroom and 1‑bedroom units, each with 1 bath
- Rear garage apartment offers 1 bedroom and 1 bath with hardwood floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,817
Cap Rate
6.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$796,340
$796.3K
Cap Rate 7%
$568,814
$568.8K
Cap Rate 9%
$442,411
$442.4K
Market Conditions
NOI Build-Up for 3,040 SF
Gross rent
$60.2K $19.80/SF
− Vacancy
−$3.3K −$1.09/SF
EGI
$56.9K $18.71/SF
− OpEx
−$17.1K −$5.61/SF
NOI
$39.8K $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 Rate 5%
$796,340
Cap Rate 7%
$568,814
Cap Rate 9%
$442,411
Alternative Uses
Best Use
Multifamily LT 5
$568.8K
$497.7K – $663.6K
NOI $39,817 @ 7.0% cap · market cap 6.28%
Second Best
Apartment 5plus
$492.0K
$430.5K – $574.0K
NOI $34,441 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$781.7K
$684.0K – $912.0K
NOI $54,720 @ 7.0% cap · market cap 8.63%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
742
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
Frequently Asked Questions
What type of property is this?
Quadplex - The layout includes a front duplex, an upstairs garage apartment, and a rear bungalow.
Where is this quadplex located?
The property is located at 1406 Elliott Street Houston, TX.
What is the asking price?
The asking price for this property is $633,888.
What are key features of this property?
This property features: Four‑unit quadplex with a front duplex, upstairs garage apartment, and rear bungalow; Front duplex includes 2‑bedroom and 1‑bedroom units, each with 1 bath; Rear garage apartment offers 1 bedroom and 1 bath with hardwood floors
