Renovated Fully Furnished
203 S 5th Street Highlands, TX 77562
For Sale
$550,000
Newly renovated, fully furnished triplex with three 2-bedroom, 1-bath units and an updated kitchen featuring granite countertops.
Property Size2,238 SF
Price / SF$245.76
Days on Market91
Property Features for 203 S 5th Street
General Information
Standard status
Active
Size
2,238 SF
Property subtype
Multi-Family
Building Details
Year Built
1946
Listing Agency:
NEXTHOME Premier Homes Realty
(281) 610-8185
Listed By:
Donna Hubbell Lentz
(281) 610-8185
Source:
Garygreene
Added: May 1
Changed: Jul 27
Last Checked: Jul 30 at 2:54AM
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 NEXTHOME Premier Homes Realty
Investment Insights
Based on property information with market context.
Welcome to a newly renovated, fully furnished triplex designed for immediate occupancy. The main residence offers modern finishes with an open-concept living layout, durable luxury vinyl flooring, and an updated kitchen with granite countertops and a cooktop.
The two additional units are each configured with 2 bedrooms and 1 bathroom, and are also fully furnished and move-in ready.
This property is comprised of two lots identified by tax account numbers 058-261-000-0004 and 058-261-000-0011. Located in Highlands, Texas, it is described as just minutes from Houston and is available for sale as a turnkey, multi-unit offering.
The two additional units are each configured with 2 bedrooms and 1 bathroom, and are also fully furnished and move-in ready.
This property is comprised of two lots identified by tax account numbers 058-261-000-0004 and 058-261-000-0011. Located in Highlands, Texas, it is described as just minutes from Houston and is available for sale as a turnkey, multi-unit offering.
Key Highlights
- Newly renovated, fully furnished triplex at 203 S 5th St with immediate income potential.
- 3 units total: main residence plus two additional units, each with 2 bedrooms and 1 bathroom.
- Updated kitchen with granite countertops and a cooktop; furnished interior with window coverings.
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $26.9k | $12.00 |
| − Vacancy | −$2.4k | −$1.08 |
| EGI | $24.4k | $10.92 |
| − OpEx | −$7.3k | −$3.27 |
| NOI | $17.1k | $7.64 |
2,238 SF · lease $12.00/SF/yr · vacancy 9.03% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$244.3K
$213.8K – $285.0K
NOI $17,102 @ 7.0% cap · market cap 3.11%
Second Best
Apartment 5plus
$212.0K
$185.5K – $247.3K
NOI $14,838 @ 7.0% cap · market cap 2.70%
Theoretical Best
Office A
$611.1K
$534.7K – $712.9K
NOI $42,776 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Triplex - Newly renovated, fully furnished triplex with three 2-bedroom, 1-bath units and an updated kitchen featuring granite countertops.
Where is this triplex located?
The property is located at 203 S 5th Street Highlands, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Newly renovated, fully furnished triplex at 203 S 5th St with immediate income potential.; 3 units total: main residence plus two additional units, each with 2 bedrooms and 1 bathroom.; Updated kitchen with granite countertops and a cooktop; furnished interior with window coverings.
