Renovated Income Triplex
For Sale
$274,975
17042 Laurelwood Drive, Channelview, TX 77530
Renovated 100% occupied triplex-style income property with a studio unit and duplex plus ample on-site parking.
Property Size1,650 SF
Price / SF$166.65
Days on Market212
Property Features for 17042 Laurelwood Drive
General Information
Standard status
Active
Size
1,650 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,718
Amenities
Laminate
Yes
2
4
Owner
Cleared
13200
More than Two
Appraiser
1650
Building Details
Building Size
1,650 SF
Year Built
1973
Stories
2
Listing Agency:
Compass RE Texas, LLC - Houston
(832) 474-5540
Listed By:
Danielle Fee Herman · License #0543709
(832) 474-5540
Source:
Garygreene
Added: Jan 8
Changed: Aug 8
Last Checked: Aug 8 at 3:50AM
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 Compass RE Texas, LLC - Houston
Investment Insights
Based on property information with market context.
This income-producing residential property is configured as a studio unit plus a duplex, providing a mixed rental setup. The property is recently renovated and described as well maintained. It is currently 100% occupied and generating immediate cash flow, and is offered as a turnkey investment.
The property sits on a large lot with ample parking, supporting practical tenant access and day-to-day convenience.
Overall, the combination of unit mix, renovation, and current occupancy makes this a straightforward option for an investor seeking an income-producing residential asset.
The property sits on a large lot with ample parking, supporting practical tenant access and day-to-day convenience.
Overall, the combination of unit mix, renovation, and current occupancy makes this a straightforward option for an investor seeking an income-producing residential asset.
Key Highlights
- Renovated, 100% occupied income property with immediate cash flow, featuring a studio unit and a duplex for rental mix.
- 4 bedrooms and 2 total baths; 1,650 total building area per owner records.
- Heating and air conditioning are included; laminate flooring.
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
$12,608
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
4.59%
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%
$252,160
$252.2K
Cap Rate 7%
$180,114
$180.1K
Cap Rate 9%
$140,089
$140.1K
Market Conditions
NOI Build-Up for 1,650 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
$19.8K $12.00/SF
− Vacancy
−$1.8K −$1.08/SF
EGI
$18.0K $10.92/SF
− OpEx
−$5.4K −$3.27/SF
NOI
$12.6K $7.64/SF
Area
Harris County, TX
Vacancy
9.03%
Lease Rate
$12.00 /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%
$252,160
Cap Rate 7%
$180,114
Cap Rate 9%
$140,089
Alternative Uses
Best Use
Multifamily LT 5
$180.1K
$157.6K – $210.1K
NOI $12,608 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$156.3K
$136.8K – $182.3K
NOI $10,940 @ 7.0% cap · market cap 3.98%
Theoretical Best
Office A
$450.5K
$394.2K – $525.6K
NOI $31,537 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
148
Businesses Nearby
Explore this area
Business Placement
Demographics for 77530, TX
35,319
Population
10,579
Households
3.3
Avg Household Size
30
Median Age
14%
College-Educated
69%
High-School Grad
13.8 sq mi
ZIP Area
2,559
Density / Sq Mi
$64,151
Median Household Income
$36,279
Median Earnings
$1,131
Median Rent
$170,600
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?
Triplex - Renovated 100% occupied triplex-style income property with a studio unit and duplex plus ample on-site parking.
Where is this triplex located?
The property is located at 17042 Laurelwood Drive Channelview, TX.
What is the asking price?
The asking price for this property is $274,975.
What are key features of this property?
This property features: Renovated, 100% occupied income property with immediate cash flow, featuring a studio unit and a duplex for rental mix.; 4 bedrooms and 2 total baths; 1,650 total building area per owner records.; Heating and air conditioning are included; laminate flooring.
