Remodeled Home and Triplex
For Sale
Contact for pricing
17404 Reiss Trail, New Caney, TX 77357
Remodeled home and new triplex apartments available for sale.
Property Size2,800 SF
Price / SF$231.79
Days on Market333
Property Features for 17404 Reiss Trail
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multifamily, Special Purpose
Investment Type
Owner/User
Building Details
Year Built
2025
Year Renovated
2025
Buildings
2
Stories
2
Units
4
Listing Agency:
Cypressbrook Company
(281) 364-1777
Listed By:
Kimberly DeVos · License #TX 533677
Source:
Crexi
Added: Sep 24, 2025
Changed: Aug 8
Last Checked: Aug 21 at 12:08PM
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 Cypressbrook Company
Investment Insights
Based on property information with market context.
This property features a remodeled 1,200 square foot home with four bedrooms and two bathrooms. The home includes new cabinets, a remodeled kitchen and bathrooms, a large utility room, walk-in closets, and large front and rear porches. The kitchen is equipped with a new dishwasher, stove/oven, and vent hood. Additionally, the property includes a triplex with three new apartments that have never been lived in. There are two 400 square foot efficiency apartments downstairs and one 800 square foot apartment upstairs with a separate bedroom and closet. All apartment kitchens include a new refrigerator, stove/oven, and vent hood. Utilities include Entergy Electric and New Caney Water, and the property utilizes a septic system. The total property size is 2,800 square feet.
Key Highlights
- Remodeled 1,200 SF Home with 4 Bedrooms / 2 Bathrooms
- Triplex with 3 New, Never‑Lived‑In Apartments
- Includes (2) 400 SF Efficiency Apartments and (1) 800 SF Apartment with Separate Bedroom
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
$31,228
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
4.81%
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%
$624,560
$624.6K
Cap Rate 7%
$446,114
$446.1K
Cap Rate 9%
$346,978
$347.0K
Market Conditions
NOI Build-Up for 2,800 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
$47.7K $17.04/SF
− Vacancy
−$3.1K −$1.11/SF
EGI
$44.6K $15.93/SF
− OpEx
−$13.4K −$4.78/SF
NOI
$31.2K $11.15/SF
Area
Montgomery County, TX
Vacancy
6.50%
Lease Rate
$17.04 /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%
$624,560
Cap Rate 7%
$446,114
Cap Rate 9%
$346,978
Alternative Uses
Best Use
Multifamily LT 5
$446.1K
$390.4K – $520.5K
NOI $31,228 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$420.3K
$367.8K – $490.3K
NOI $29,420 @ 7.0% cap · market cap 4.53%
Theoretical Best
Specialty Retail
$706.9K
$618.5K – $824.7K
NOI $49,481 @ 7.0% cap · market cap 7.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
61
Businesses Nearby
Explore this area
Business Placement
Demographics for 77357, TX
30,339
Population
12,638
Households
2.4
Avg Household Size
34
Median Age
15%
College-Educated
80%
High-School Grad
67.1 sq mi
ZIP Area
452
Density / Sq Mi
$73,773
Median Household Income
$40,211
Median Earnings
$1,366
Median Rent
$218,800
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 - Remodeled home and new triplex apartments available for sale.
Where is this triplex located?
The property is located at 17404 Reiss Trail New Caney, TX.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Remodeled 1,200 SF Home with 4 Bedrooms / 2 Bathrooms; Triplex with 3 New, Never‑Lived‑In Apartments; Includes (2) 400 SF Efficiency Apartments and (1) 800 SF Apartment with Separate Bedroom
