Four-Unit Quadplex with Private
For Sale
$420,000
Pending
1511 Scharpe St, Houston, TX 77023
Owner-occupancy configuration includes one residence and three additional units for rental use.
Property Size2,665 SF
Days on Market15
Property Features for 1511 Scharpe St
General Information
Standard status
Pending
Size
2,665 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,384
Amenities
private entrances
Listing Agency:
Keller Williams Signature
(281) 599-7600
Listed By:
Shahriyar Mehrazar
(713) 405-9253
Source:
Exprealty
Added: Aug 20
Changed: Aug 31
Last Checked: Sep 1 at 11:58PM
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 Keller Williams Signature
Investment Insights
Based on property information with market context.
This 2,665-square-foot quadplex contains four separate units, each with its own entrance. One unit has been updated, while the overall configuration accommodates an owner-occupant alongside three additional residences. The property also includes a spacious lot with room for parking and outdoor use.
Located in Houston’s East End, the property is minutes from downtown, the University of Houston, and major transit routes. Its four-unit layout provides flexibility for multigenerational occupancy or a combination of personal use and rental activity.
Located in Houston’s East End, the property is minutes from downtown, the University of Houston, and major transit routes. Its four-unit layout provides flexibility for multigenerational occupancy or a combination of personal use and rental activity.
Key Highlights
- Four fully equipped residential units with private entrances
- 2,665‑square‑foot quadplex in Houston’s East End
- One unit has been updated
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
$34,905
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
8.31%
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%
$698,100
$698.1K
Cap Rate 7%
$498,643
$498.6K
Cap Rate 9%
$387,833
$387.8K
Market Conditions
NOI Build-Up for 2,665 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
$52.8K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$49.9K $18.71/SF
− OpEx
−$15.0K −$5.61/SF
NOI
$34.9K $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%
$698,100
Cap Rate 7%
$498,643
Cap Rate 9%
$387,833
Alternative Uses
Best Use
Multifamily LT 5
$498.6K
$436.3K – $581.8K
NOI $34,905 @ 7.0% cap · market cap 8.31%
Second Best
Apartment 5plus
$431.3K
$377.4K – $503.2K
NOI $30,192 @ 7.0% cap · market cap 7.19%
Theoretical Best
Office A
$685.3K
$599.6K – $799.5K
NOI $47,970 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
780
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Owner-occupancy configuration includes one residence and three additional units for rental use.
Where is this quadplex located?
The property is located at 1511 Scharpe St Houston, TX.
What is the asking price?
The asking price for this property is $420,000.
What are key features of this property?
This property features: Four fully equipped residential units with private entrances; 2,665‑square‑foot quadplex in Houston’s East End; One unit has been updated
