Four-Unit Townhome-Style
For Sale
$799,000
21155 Gosling Road # 40, Spring, TX 77388
Fully leased property with private garages and modern interior finishes.
Property Size6,604 SF
Days on Market290
Property Features for 21155 Gosling Road # 40
General Information
Standard status
Active
Size
6,604 SF
Property subtype
Multi Family,Quadruplex
Occupancy
100%
Additional Details
Highway Access
Yes
Building Details
Building Size
6,604 SF
Year Built
2019
Tenancy
Multi
Listing Agency:
White Picket Realty LLC
(405) 887-3085
Listed By:
Florencia Cabeza
(405) 887-3085
Source:
Nancyalmodovar
Added: Nov 13, 2025
Changed: Aug 15
Last Checked: Aug 29 at 4:56PM
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 White Picket Realty LLC
Investment Insights
Based on property information with market context.
Built in 2019, this fourplex contains four modern townhome-style units, each offering 3 bedrooms, 2.5 baths, a private garage, granite countertops, stainless-steel appliances, and durable LVP flooring in wet areas. All four units are currently rented, providing an established leasing profile for the property.
The HOA covers exterior maintenance, insurance, water, sewer, and trash. The property is located at 21155 Gosling Road #40 in Spring, near the Exxon Campus, Grand Parkway, Hwy 99, I-45, and Klein ISD schools. It is also adjacent to the community playground.
The HOA covers exterior maintenance, insurance, water, sewer, and trash. The property is located at 21155 Gosling Road #40 in Spring, near the Exxon Campus, Grand Parkway, Hwy 99, I-45, and Klein ISD schools. It is also adjacent to the community playground.
Key Highlights
- Fourplex built in 2019 with four currently rented units
- Each unit includes 3 bedrooms, 2.5 baths, and a private garage
- Townhome‑style units feature granite 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
$69,389
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
8.68%
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%
$1,387,780
$1.4M
Cap Rate 7%
$991,271
$991.3K
Cap Rate 9%
$770,989
$771.0K
Market Conditions
NOI Build-Up for 6,604 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
$133.9K $20.28/SF
− Vacancy
−$7.8K −$1.18/SF
EGI
$126.2K $19.10/SF
− OpEx
−$56.8K −$8.60/SF
NOI
$69.4K $10.51/SF
Area
Montgomery County, TX
Vacancy
5.80%
Lease Rate
$20.28 /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%
$1,387,780
Cap Rate 7%
$991,271
Cap Rate 9%
$770,989
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$920.7K – $1.23M
NOI $73,652 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$991.3K
$867.4K – $1.16M
NOI $69,389 @ 7.0% cap · market cap 8.68%
Theoretical Best
Specialty Retail
$1.67M
$1.46M – $1.95M
NOI $116,704 @ 7.0% cap · market cap 14.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
502
Businesses Nearby
Explore this area
Business Placement
Demographics for 77388, TX
51,483
Population
18,924
Households
2.7
Avg Household Size
37
Median Age
34%
College-Educated
92%
High-School Grad
13.4 sq mi
ZIP Area
3,842
Density / Sq Mi
$101,588
Median Household Income
$53,925
Median Earnings
$1,809
Median Rent
$264,600
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?
Quadplex - Fully leased property with private garages and modern interior finishes.
Where is this quadplex located?
The property is located at 21155 Gosling Road # 40 Spring, TX.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Fourplex built in 2019 with four currently rented units; Each unit includes 3 bedrooms, 2.5 baths, and a private garage; Townhome‑style units feature granite countertops and stainless‑steel appliances
