Four-Unit Multifamily
New
For Sale
$490,000
2002 Barbee Street, Houston, TX 77004
Each residence has a one-bedroom, one-bathroom layout, and the property has no HOA.
Property Size2,500 SF
Days on Market3
Property Features for 2002 Barbee Street
General Information
Standard status
Active
Size
2,500 SF
Property subtype
Multi Family,Quadruplex
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$5,613
Building Details
Building Size
2,500 SF
Year Built
1940
Listing Agency:
Keller Williams Signature
Listed By:
Amin Dawood · License #0750773
(713) 922-4074
Source:
Nancyalmodovar
Added: Oct 15
Changed: Oct 16
Last Checked: Oct 16 at 2:12PM
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 Keller Williams Signature
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Investment Insights
Based on property information with market context.
This Houston multifamily property contains four residences, each configured with one bedroom and one bathroom. The building dates to 1940 and has no HOA. The sale is as-is and subject to lender approval.
I-69 and SH-288 provide access to the Texas Medical Center, Downtown, the Museum District, the University of Houston, and Texas Southern University.
I-69 and SH-288 provide access to the Texas Medical Center, Downtown, the Museum District, the University of Houston, and Texas Southern University.
Key Highlights
- Four units, each with 1 bedroom and 1 bathroom
- Built in 1940
- No HOA
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,744
Cap Rate
6.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$654,880
$654.9K
Cap Rate 7%
$467,771
$467.8K
Cap Rate 9%
$363,822
$363.8K
Market Conditions
NOI Build-Up for 2,500 SF
Gross rent
$49.5K $19.80/SF
− Vacancy
−$2.7K −$1.09/SF
EGI
$46.8K $18.71/SF
− OpEx
−$14.0K −$5.61/SF
NOI
$32.7K $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 Rate 5%
$654,880
Cap Rate 7%
$467,771
Cap Rate 9%
$363,822
Alternative Uses
Best Use
Multifamily LT 5
$467.8K
$409.3K – $545.7K
NOI $32,744 @ 7.0% cap · market cap 6.68%
Second Best
Apartment 5plus
$404.6K
$354.0K – $472.1K
NOI $28,323 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$642.9K
$562.5K – $750.0K
NOI $45,000 @ 7.0% cap · market cap 9.18%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,137
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
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has a one-bedroom, one-bathroom layout, and the property has no HOA.
Where is this quadplex located?
The property is located at 2002 Barbee Street Houston, TX.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Four units, each with 1 bedroom and 1 bathroom; Built in 1940; No HOA
