Renovated Triplex with Guest
New
For Sale
$775,000
1909 Ruth Street, Houston, TX 77004
Three-unit property with smart-home systems, updated roofing, and included appliances.
Property Size3,402 SF
Days on Market6
Property Features for 1909 Ruth Street
General Information
Standard status
Active
Size
3,402 SF
Property subtype
Multi Family,Duplex
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$13,616
Amenities
Smart Entry
appliances
Dual Zoned Carrier HVAC Systems with Smart Controls
6 Camera Perimeter security
Smart Flood Lights
Smart Locks
Professionally monitored Alarm Systems
Building Details
Building Size
3,402 SF
Year Built
1945
Listing Agency:
UHS Properties
Listed By:
John Bennett · License #0628134
(281) 410-8088
Source:
Greenwoodking
Added: Aug 29
Changed: Sep 2
Last Checked: Sep 2 at 9:09PM
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 UHS Properties
Investment Insights
Based on property information with market context.
This triplex includes two two-story residences and a separate one-story guest house with its own entry. The property was remodeled in 2020-21, and the roof was replaced in 2020. Sale includes all appliances, along with dual-zoned Carrier HVAC systems equipped with smart controls.
Smart-home features extend throughout the property, including smart locks for all units, smart flood lights, perimeter cameras, and professionally monitored alarm systems. The property is located in Houston’s Museum District at 1909 Ruth Street, with Herman Park and area restaurants within blocks. Texas Medical Center is 2.4 miles away, and NRG Stadium and Toyota Center are also nearby.
Smart-home features extend throughout the property, including smart locks for all units, smart flood lights, perimeter cameras, and professionally monitored alarm systems. The property is located in Houston’s Museum District at 1909 Ruth Street, with Herman Park and area restaurants within blocks. Texas Medical Center is 2.4 miles away, and NRG Stadium and Toyota Center are also nearby.
Key Highlights
- Triplex with two two‑story residences and a separate one‑story guest house
- Remodeled in 2020‑21; roof replaced in 2020
- Dual zoned Carrier HVAC systems with smart controls
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
$44,558
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
5.75%
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%
$891,160
$891.2K
Cap Rate 7%
$636,543
$636.5K
Cap Rate 9%
$495,089
$495.1K
Market Conditions
NOI Build-Up for 3,402 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
$67.4K $19.80/SF
− Vacancy
−$3.7K −$1.09/SF
EGI
$63.7K $18.71/SF
− OpEx
−$19.1K −$5.61/SF
NOI
$44.6K $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%
$891,160
Cap Rate 7%
$636,543
Cap Rate 9%
$495,089
Alternative Uses
Best Use
Multifamily LT 5
$636.5K
$557.0K – $742.6K
NOI $44,558 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$550.6K
$481.8K – $642.4K
NOI $38,542 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$874.8K
$765.5K – $1.02M
NOI $61,236 @ 7.0% cap · market cap 7.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,132
Businesses Nearby
Explore this area
Business Placement
Demographics for 77004, TX
37,005
Population
18,321
Households
2
Avg Household Size
31
Median Age
57%
College-Educated
96%
High-School Grad
5.2 sq mi
ZIP Area
7,116
Density / Sq Mi
$65,901
Median Household Income
$55,909
Median Earnings
$1,320
Median Rent
$384,100
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 - Three-unit property with smart-home systems, updated roofing, and included appliances.
Where is this triplex located?
The property is located at 1909 Ruth Street Houston, TX.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Triplex with two two‑story residences and a separate one‑story guest house; Remodeled in 2020‑21; roof replaced in 2020; Dual zoned Carrier HVAC systems with smart controls
