Remodeled Apartment Near Medical
For Sale
$130,000
2211 S Braeswood Blvd 22H, Houston, TX 77030
Updated apartment with free amenities, near the Medical Center.
Property Size833 SF
Lot Size3.72 Acres
Days on Market280
Property Features for 2211 S Braeswood Blvd 22H
General Information
Standard status
Active
Size
833 SF
Lot size
3.72 Acres
Property subtype
Other
Building Details
Building Size
833 SF
Year Built
1981
Stories
4
Listed By:
S. Jane Su
(713) 922-1888
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 16
Last Checked: Sep 1 at 9:24PM
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 S. Jane Su
Investment Insights
Based on property information with market context.
This apartment features an extensively remodeled kitchen and laminated flooring throughout. The unit includes free internet, water, assigned parking, and its own washer and dryer. It is located near the Medical Center, within walking distance to the free shuttle and rail station.
Key Highlights
- Walking distance to free shuttle/rail station next to medical center
- Free internet, water, assigned parking, and in‑unit washer/dryer included
- Extensively remodeled kitchen
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
$9,437
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
7.26%
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%
$188,740
$188.7K
Cap Rate 7%
$134,814
$134.8K
Cap Rate 9%
$104,856
$104.9K
Market Conditions
NOI Build-Up for 833 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
$18.3K $21.96/SF
− Vacancy
−$1.1K −$1.36/SF
EGI
$17.2K $20.60/SF
− OpEx
−$7.7K −$9.27/SF
NOI
$9.4K $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%
$188,740
Cap Rate 7%
$134,814
Cap Rate 9%
$104,856
Alternative Uses
Best Use
Apartment 5plus
$134.8K
$118.0K – $157.3K
NOI $9,437 @ 7.0% cap · market cap 7.26%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$214.2K
$187.4K – $249.9K
NOI $14,994 @ 7.0% cap · market cap 11.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,367
Businesses Nearby
Explore this area
Business Placement
Demographics for 77030, TX
13,221
Population
7,842
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
99%
High-School Grad
2.6 sq mi
ZIP Area
5,085
Density / Sq Mi
$79,415
Median Household Income
$62,929
Median Earnings
$1,684
Median Rent
$614,100
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?
Apartment building - Updated apartment with free amenities, near the Medical Center.
Where is this apartment building located?
The property is located at 2211 S Braeswood Blvd 22H Houston, TX.
What is the asking price?
The asking price for this property is $130,000.
What are key features of this property?
This property features: Walking distance to free shuttle/rail station next to medical center; Free internet, water, assigned parking, and in‑unit washer/dryer included; Extensively remodeled kitchen
