Gated Multi-Home Residential
For Sale
$1,099,500
2108 Des Chaumes St, Houston, TX 77026
Five newly built residences within a gated community, designed for flexible rental use with modern finishes and central courtyard common space.
Property Size4,800 SF
Days on Market57
Property Features for 2108 Des Chaumes St
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Investment
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$2,267
Building Details
Building Size
4,800 SF
Stories
2
Units
1
Tenancy
Multi
Listing Agency:
BROOKS & DAVIS REAL ESTATE
(832) 524-4526
Listed By:
Andre Beraud · License #0667248
(832) 524-4526
Source:
Elliman
Added: Jun 19
Changed: Aug 12
Last Checked: Aug 13 at 7:15AM
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 BROOKS & DAVIS REAL ESTATE
Investment Insights
Based on property information with market context.
This offering includes five brand new residences presented together as a single portfolio within a gated community. The property is arranged around an inviting central courtyard that supports a shared residential experience while maintaining privacy behind controlled access. Each home is configured with two bedrooms and two and a half bathrooms, featuring high ceilings and modern interior finishes. Interiors include gourmet kitchens with quartz countertops and stainless steel appliances, with porcelain tile and laminate flooring throughout. Each primary suite includes a private en-suite bathroom.
The community is located in Houston’s French Town 5th Ward, with convenience emphasized by proximity to major destinations. Public remarks note the property is approximately two minutes from Downtown and about 20 minutes from George Bush Intercontinental Airport (IAH). Transit and walkability scores provided with the listing indicate a somewhat walkable setting with good transit, and the asset is described as very bikeable.
For tenants, buyers, or operators, the unit mix supports flexible residential leasing strategies, including short-term rental use or long-term rental as a cohesive community. With five separately configured two-bedroom homes, the portfolio format can simplify operations for an investor seeking a multi-unit setup, while the gated courtyard environment helps provide an organized, residentially cohesive setting for longer-term occupants.
The community is located in Houston’s French Town 5th Ward, with convenience emphasized by proximity to major destinations. Public remarks note the property is approximately two minutes from Downtown and about 20 minutes from George Bush Intercontinental Airport (IAH). Transit and walkability scores provided with the listing indicate a somewhat walkable setting with good transit, and the asset is described as very bikeable.
For tenants, buyers, or operators, the unit mix supports flexible residential leasing strategies, including short-term rental use or long-term rental as a cohesive community. With five separately configured two-bedroom homes, the portfolio format can simplify operations for an investor seeking a multi-unit setup, while the gated courtyard environment helps provide an organized, residentially cohesive setting for longer-term occupants.
Key Highlights
- 5 brand new residences sold together as a single portfolio within a gated community
- Each home offers 2 bedrooms and 2.5 bathrooms, with high ceilings and modern finishes
- Gourmet kitchens feature quartz countertops and stainless steel appliances
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
$54,380
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
4.95%
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%
$1,087,600
$1.1M
Cap Rate 7%
$776,857
$776.9K
Cap Rate 9%
$604,222
$604.2K
Market Conditions
NOI Build-Up for 4,800 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
$105.4K $21.96/SF
− Vacancy
−$6.5K −$1.36/SF
EGI
$98.9K $20.60/SF
− OpEx
−$44.5K −$9.27/SF
NOI
$54.4K $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%
$1,087,600
Cap Rate 7%
$776,857
Cap Rate 9%
$604,222
Alternative Uses
Best Use
Apartment 5plus
$776.9K
$679.8K – $906.3K
NOI $54,380 @ 7.0% cap · market cap 4.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.08M – $1.44M
NOI $86,400 @ 7.0% cap · market cap 7.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
335
Businesses Nearby
Explore this area
Business Placement
Demographics for 77026, TX
23,405
Population
9,580
Households
2.4
Avg Household Size
36
Median Age
9%
College-Educated
70%
High-School Grad
6.6 sq mi
ZIP Area
3,546
Density / Sq Mi
$34,835
Median Household Income
$29,339
Median Earnings
$962
Median Rent
$104,800
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Short term rental property - Five newly built residences within a gated community, designed for flexible rental use with modern finishes and central courtyard common space.
Where is this short term rental property located?
The property is located at 2108 Des Chaumes St Houston, TX.
What is the asking price?
The asking price for this property is $1,099,500.
What are key features of this property?
This property features: 5 brand new residences sold together as a single portfolio within a gated community; Each home offers 2 bedrooms and 2.5 bathrooms, with high ceilings and modern finishes; Gourmet kitchens feature quartz countertops and stainless steel appliances
