Contiguous 18-Unit Multifamily
For Sale
$849,000
1920 Binz Street 6, Houston, TX 77004
Three contiguous tracts totaling 18 income-producing units are offered for sale, including 1920 Binz St #6.
Property Size3,684 SF
Price / SF$230.46
Days on Market124
Property Features for 1920 Binz Street 6
General Information
Standard status
Active
Size
3,684 SF
Property subtype
Income
Taxes and HOA fees
Annual Taxes
$19,139
Amenities
Tile,Wood,Carpet,Hardwood
Yes
2
Window Coverings
Washer Hookup,Dryer Hookup
Appraiser
Window Treatments,Ceiling Fan(s)
Partial
Cleared,Corner Lot,Near Public Transit
7800
One
Carport,Garage,Garage Door Opener
3684
Building Details
Building Size
3,684 SF
Year Built
1942
Stories
2
Listing Agency:
KingFay Inc
(832) 239-7934
Listed By:
Ana Tallackson · License #70010221
(832) 239-7934
Source:
Garygreene
Added: Apr 21
Changed: Aug 21
Last Checked: Aug 21 at 4:23AM
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 KingFay Inc
Investment Insights
Based on property information with market context.
This offering combines three contiguous tracts—614 Chartres St #5, 1920 Binz St #6, and 1914 Binz St #7—together providing 18 income-producing units. The listing notes that measurements should be verified, with the seller encouraging buyers to call the agent for details.
The property is presented as an investment opportunity within Houston’s Museum District, with residents described as having quick access to Hwy 288 and the Metro Rail, along with nearby museums, parks, restaurants, and cultural destinations.
For buyers and brokers seeking multiple units within a single package, this combined, contiguous multifamily portfolio offers a straightforward structure tied to the three addresses listed above.
The property is presented as an investment opportunity within Houston’s Museum District, with residents described as having quick access to Hwy 288 and the Metro Rail, along with nearby museums, parks, restaurants, and cultural destinations.
For buyers and brokers seeking multiple units within a single package, this combined, contiguous multifamily portfolio offers a straightforward structure tied to the three addresses listed above.
Key Highlights
- Three contiguous tracts for sale: 614 Chartres St #5, 1920 Binz St #6, and 1914 Binz St #7
- 18 income‑producing units total across the contiguous tracts
- Year built: 1942
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
$41,737
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
4.92%
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%
$834,740
$834.7K
Cap Rate 7%
$596,243
$596.2K
Cap Rate 9%
$463,744
$463.7K
Market Conditions
NOI Build-Up for 3,684 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
$80.9K $21.96/SF
− Vacancy
−$5.0K −$1.36/SF
EGI
$75.9K $20.60/SF
− OpEx
−$34.1K −$9.27/SF
NOI
$41.7K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$834,740
Cap Rate 7%
$596,243
Cap Rate 9%
$463,744
Alternative Uses
Best Use
Apartment 5plus
$596.2K
$521.7K – $695.6K
NOI $41,737 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$947.3K
$828.9K – $1.11M
NOI $66,312 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,326
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Three contiguous tracts totaling 18 income-producing units are offered for sale, including 1920 Binz St #6.
Where is this apartment building located?
The property is located at 1920 Binz Street 6 Houston, TX.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Three contiguous tracts for sale: 614 Chartres St #5, 1920 Binz St #6, and 1914 Binz St #7; 18 income‑producing units total across the contiguous tracts; Year built: 1942
