Fully Furnished Triplex
203 South 5th Street Highlands, TX 77562
203 South 5th Street, Highlands, TX, 77562
$550,000
For Sale
$550,000
Residential Multi Family, Other - Highlands, TX
Property Size2,238 SF
Lot Size0.57 Acres
Price / SF$245.76
Days on Market78
Property Features for 203 South 5th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 4
- Bathrooms
- 3
- Rooms
- Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
- Standard status
- Active
- Size
- 2,238 SF
- Lot size
- 0.57 Acres
Building Details
- Year built
- 1946
- Architectural style
- Other
Listing Agency
NextHome Premier Homes Realty
(281) 812-9410
7544 FM 1960 Rd East, Suite 61, TX
Listed by
Rita Zarghami · License #0439970,PersonLicenseNumber
(281) 812-9410
Added: May 1 Checked: Jul 17 at 5:06 pm
MLS# 77185104
Listing URL
Copyright © 2026 NextHome, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Welcome to 203 South 5th Street, a newly renovated, fully furnished triplex built for immediate occupancy. The property includes a main residence with modern finishes and an updated kitchen featuring granite countertops and a cooktop, along with durable luxury vinyl flooring. Two additional units each provide 2 bedrooms and 1 bathroom, also fully furnished and move-in ready.
The triplex is comprised of two lots, identified by tax account numbers 058-261-000-0004 and 058-261-000-0011. The total building size is 2,238 square feet on 0.57 acres.
This configuration offers three separate, furnished 2-bedroom/1-bath living spaces within a single ownership opportunity.
The triplex is comprised of two lots, identified by tax account numbers 058-261-000-0004 and 058-261-000-0011. The total building size is 2,238 square feet on 0.57 acres.
This configuration offers three separate, furnished 2-bedroom/1-bath living spaces within a single ownership opportunity.
Key Highlights
- 1946 triplex with main residence plus two additional 2‑bed/1‑bath units
- Recently renovated with durable luxury vinyl flooring and an updated kitchen with granite countertops and a cooktop
- Fully furnished units, move‑in ready for long‑term tenants, short‑term rentals, or multi‑generational living
Local 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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Newly renovated, fully furnished triplex with three 2-bedroom units and updated kitchen finishes.
Where is this triplex located?
The property is located at 203 South 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: 1946 triplex with main residence plus two additional 2‑bed/1‑bath units; Recently renovated with durable luxury vinyl flooring and an updated kitchen with granite countertops and a cooktop; Fully furnished units, move‑in ready for long‑term tenants, short‑term rentals, or multi‑generational living
