Renovated Fully Furnished
For Sale
$550,000
203 S 5th Street, Highlands, TX 77562
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 Market185
Property Features for 203 S 5th Street
General Information
Standard status
Active
Size
2,238 SF
Property subtype
Multi-Family
Additional Details
Furnished
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$6,161
Amenities
Plank,Vinyl
Yes
3
Furnished
4
Window Coverings
Washer Hookup,Dryer Hookup
Owner
Furnished,Granite Counters,Window Treatments
Cleared,Subdivision
25000
Appraiser
Electric Gate
2238
Building Details
Building Size
2,238 SF
Year Built
1946
Stories
1
Listing Agency:
NEXTHOME Premier Homes Realty
Listed By:
Rita Zarghami · License #0439970,PersonLicenseNumber
(281) 812-9410
Source:
Garygreene
Added: May 1
Changed: Oct 31
Last Checked: Oct 30 at 12:27PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$17,102
Cap Rate
3.11%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$342,040
$342.0K
Cap Rate 7%
$244,314
$244.3K
Cap Rate 9%
$190,022
$190.0K
Market Conditions
NOI Build-Up for 2,238 SF
Gross rent
$26.9K $12.00/SF
− Vacancy
−$2.4K −$1.08/SF
EGI
$24.4K $10.92/SF
− OpEx
−$7.3K −$3.27/SF
NOI
$17.1K $7.64/SF
Area
Harris County, TX
Vacancy
9.03%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$342,040
Cap Rate 7%
$244,314
Cap Rate 9%
$190,022
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
340
Businesses Nearby
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Business Placement
Demographics for 77562, TX
11,861
Population
4,184
Households
2.8
Avg Household Size
38
Median Age
12%
College-Educated
81%
High-School Grad
13.5 sq mi
ZIP Area
879
Density / Sq Mi
$63,636
Median Household Income
$39,712
Median Earnings
$1,190
Median Rent
$195,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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.
