Residential Income Unit with Private
For Sale
$699,000
207 Frawley Street, Houston, TX 77009
Residential income unit with a private deck, separate dining and living rooms, and in-unit washer and dryer.
Property Size2,790 SF
Price / SF$250.54
Days on Market81
Property Features for 207 Frawley Street
General Information
Standard status
Active
Size
2,790 SF
Property subtype
Income
Amenities
Yes
1
Appraiser
Cleared
5000
2790
Building Details
Building Size
2,790 SF
Year Built
1940
Stories
1
Listing Agency:
HomeLand Properties, Inc
(281) 444-5140
Listed By:
Crystal Graham
(281) 831-8334
Source:
Garygreene
Added: Jun 22
Changed: Sep 9
Last Checked: Sep 9 at 6:03AM
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 HomeLand Properties, Inc
Investment Insights
Based on property information with market context.
This residential income property features a thoughtfully laid-out interior with separate dining and living rooms. The kitchen is fully equipped with major appliances, including a refrigerator, dishwasher, stove, and oven, and the home also includes an in-unit washer and dryer. Flooring is all tile and hard surface with no carpet, providing a clean, easy-care feel throughout. A private deck offers outdoor space with downtown views.
Transit and walkability metrics are shown as bikeScore 64 (Bikeable), walkScore 54 (Somewhat Walkable), and transitScore 57 (Good Transit).
Located at 207 Frawley St in Houston, this offering is presented as a multifamily residential income property for sale.
Transit and walkability metrics are shown as bikeScore 64 (Bikeable), walkScore 54 (Somewhat Walkable), and transitScore 57 (Good Transit).
Located at 207 Frawley St in Houston, this offering is presented as a multifamily residential income property for sale.
Key Highlights
- Year built 1940
- Residential income unit with a private deck and downtown views
- Separate dining room and living room layout
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
$31,608
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
4.52%
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%
$632,160
$632.2K
Cap Rate 7%
$451,543
$451.5K
Cap Rate 9%
$351,200
$351.2K
Market Conditions
NOI Build-Up for 2,790 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
$61.3K $21.96/SF
− Vacancy
−$3.8K −$1.36/SF
EGI
$57.5K $20.60/SF
− OpEx
−$25.9K −$9.27/SF
NOI
$31.6K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$632,160
Cap Rate 7%
$451,543
Cap Rate 9%
$351,200
Alternative Uses
Best Use
Apartment 5plus
$451.5K
$395.1K – $526.8K
NOI $31,608 @ 7.0% cap · market cap 4.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$717.4K
$627.8K – $837.0K
NOI $50,220 @ 7.0% cap · market cap 7.18%
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
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 77009, TX
36,425
Population
17,890
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
78%
High-School Grad
6.2 sq mi
ZIP Area
5,875
Density / Sq Mi
$81,921
Median Household Income
$49,446
Median Earnings
$1,229
Median Rent
$403,600
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Residential income unit with a private deck, separate dining and living rooms, and in-unit washer and dryer.
Where is this residential income property located?
The property is located at 207 Frawley Street Houston, TX.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Year built 1940; Residential income unit with a private deck and downtown views; Separate dining room and living room layout
