Corner-Lot
For Sale
$260,000
1407 71st Street, Houston, TX 77011
Four residential units offer separate utility metering and current month-to-month leases in Houston’s East End.
Property Size936 SF
Days on Market135
Property Features for 1407 71st Street
General Information
Standard status
Active
Size
936 SF
Property subtype
Multi Family,Quadruplex
Occupancy
100%
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$6,074
Building Details
Building Size
936 SF
Year Built
1936
Tenancy
Multi
Listing Agency:
RE/MAX Real Estate Assoc.
(713) 498-6777
Listed By:
Mario Guzman · License #517409
(713) 498-6777
Source:
Livingvoguerealestate
Added: Mar 26
Changed: Aug 2
Last Checked: Aug 7 at 12:43AM
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 RE/MAX Real Estate Assoc.
Investment Insights
Based on property information with market context.
This four-unit residential property was built in 1936 and occupies a corner lot in Houston’s East End. The offering includes the addresses 1407, 1409, 1411, and 1415 71st Street, creating a consolidated quadplex opportunity.
Each unit has its own water, electric, and gas meter. All four units are leased on a month-to-month basis, providing an existing occupancy profile with flexible lease terms.
Each unit has its own water, electric, and gas meter. All four units are leased on a month-to-month basis, providing an existing occupancy profile with flexible lease terms.
Key Highlights
- Four‑unit quadplex on a corner lot
- Separate water, electric, and gas meters for each unit
- All units currently leased month‑to‑month
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
$12,259
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
4.72%
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%
$245,180
$245.2K
Cap Rate 7%
$175,129
$175.1K
Cap Rate 9%
$136,211
$136.2K
Market Conditions
NOI Build-Up for 936 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
$18.5K $19.80/SF
− Vacancy
−$1.0K −$1.09/SF
EGI
$17.5K $18.71/SF
− OpEx
−$5.3K −$5.61/SF
NOI
$12.3K $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%
$245,180
Cap Rate 7%
$175,129
Cap Rate 9%
$136,211
Alternative Uses
Best Use
Multifamily LT 5
$175.1K
$153.2K – $204.3K
NOI $12,259 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$151.5K
$132.6K – $176.7K
NOI $10,604 @ 7.0% cap · market cap 4.08%
Theoretical Best
Office A
$240.7K
$210.6K – $280.8K
NOI $16,848 @ 7.0% cap · market cap 6.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,009
Businesses Nearby
Explore this area
Business Placement
Demographics for 77011, TX
16,841
Population
7,366
Households
2.3
Avg Household Size
37
Median Age
10%
College-Educated
59%
High-School Grad
3.4 sq mi
ZIP Area
4,953
Density / Sq Mi
$49,163
Median Household Income
$36,517
Median Earnings
$1,063
Median Rent
$187,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four residential units offer separate utility metering and current month-to-month leases in Houston’s East End.
Where is this quadplex located?
The property is located at 1407 71st Street Houston, TX.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Four‑unit quadplex on a corner lot; Separate water, electric, and gas meters for each unit; All units currently leased month‑to‑month
