Renovated Four-Unit Apartment
New
For Sale
$650,000
1922 Rosewood St, Houston, TX 77004
Four one-bedroom residences offer flexible occupancy options with full appliance packages and access to Houston’s Texas Medical Center area.
Property Size3,048 SF
Days on Market2
Property Features for 1922 Rosewood St
General Information
Standard status
Active
Size
3,048 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$10,413
Building Details
Building Size
3,048 SF
Year Built
1930
Stories
2
Units
4
Listing Agency:
Beycome Brokerage Realty LLC
Listed By:
Steve Koleno · License #BK3469487
(804) 656-5007
Source:
Elliman
Added: Sep 9
Last Checked: Sep 9 at 3:36PM
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 Beycome Brokerage Realty LLC
Investment Insights
Based on property information with market context.
This fourplex at 1922 Rosewood St includes four residential units, each configured with one bedroom and one bathroom. The property was built in 1930 and has been fully renovated, with a complete appliance package in every unit. The configuration supports leasing all residences, owner occupancy in one unit, or the residential, commercial, and live-work possibilities identified for the property.
The location is near the Texas Medical Center, University of Houston, and Museum District. WalkScore is 93, with a BikeScore of 74 and TransitScore of 75, providing documented pedestrian, bicycle, and transit access. The property is positioned within a rental corridor described as high-demand in the source information.
The location is near the Texas Medical Center, University of Houston, and Museum District. WalkScore is 93, with a BikeScore of 74 and TransitScore of 75, providing documented pedestrian, bicycle, and transit access. The property is positioned within a rental corridor described as high-demand in the source information.
Key Highlights
- Fourplex with 4 one‑bedroom, one‑bathroom units
- Fully renovated property originally built in 1930
- Full appliance package included in every unit
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
$39,922
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
6.14%
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%
$798,440
$798.4K
Cap Rate 7%
$570,314
$570.3K
Cap Rate 9%
$443,578
$443.6K
Market Conditions
NOI Build-Up for 3,048 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
$60.4K $19.80/SF
− Vacancy
−$3.3K −$1.09/SF
EGI
$57.0K $18.71/SF
− OpEx
−$17.1K −$5.61/SF
NOI
$39.9K $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%
$798,440
Cap Rate 7%
$570,314
Cap Rate 9%
$443,578
Alternative Uses
Best Use
Multifamily LT 5
$570.3K
$499.0K – $665.4K
NOI $39,922 @ 7.0% cap · market cap 6.14%
Second Best
Apartment 5plus
$493.3K
$431.6K – $575.5K
NOI $34,531 @ 7.0% cap · market cap 5.31%
Theoretical Best
Office A
$783.8K
$685.8K – $914.4K
NOI $54,864 @ 7.0% cap · market cap 8.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom residences offer flexible occupancy options with full appliance packages and access to Houston’s Texas Medical Center area.
Where is this quadplex located?
The property is located at 1922 Rosewood St Houston, TX.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Fourplex with 4 one‑bedroom, one‑bathroom units; Fully renovated property originally built in 1930; Full appliance package included in every unit
