Four-Unit Residential
For Sale
$800,000
2302 Colorado Street, Houston, TX 77007
Updated corner-lot property with a two-story arrangement of residences on a quiet residential street.
Property Size3,496 SF
Price / SF$228.83
Days on Market23
Property Features for 2302 Colorado Street
General Information
Standard status
Active
Size
3,496 SF
Property subtype
Multi Family,Quadruplex
Site & Location
Neighborhood
Washington Avenue Coalition / Memorial Park
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
4 x 2BR/2BA
Multifamily Units
4
Building Details
Building Size
3,496 SF
Year Built
2007
Listing Agency:
Texas Ally Real Estate Group, LLC
Listed By:
Leslie Fernandez · License #0513729
(832) 646-3795
Source:
Mavenlyhomes
Added: Oct 7
Changed: Oct 26
Last Checked: Oct 26 at 12:12PM
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 Texas Ally Real Estate Group, LLC
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Investment Insights
Based on property information with market context.
Built in 2007, this Houston quadplex contains 3,496 square feet across four units. Each residence has two bedrooms and two full bathrooms, with two units on the upper level and two on the lower level. The property has been updated and occupies a corner lot on a residential street.
The property is near the Washington Avenue and Heights areas, with access to major freeways, shopping, dining, and entertainment. School zoning includes Heights High School.
The property is near the Washington Avenue and Heights areas, with access to major freeways, shopping, dining, and entertainment. School zoning includes Heights High School.
Key Highlights
- Four units, each with two bedrooms and two full bathrooms
- 3,496 square feet in a 2007‑built property
- Two residences upstairs and two downstairs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$45,790
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$915,800
$915.8K
Cap Rate 7%
$654,143
$654.1K
Cap Rate 9%
$508,778
$508.8K
Market Conditions
NOI Build-Up for 3,496 SF
Gross rent
$69.2K $19.80/SF
− Vacancy
−$3.8K −$1.09/SF
EGI
$65.4K $18.71/SF
− OpEx
−$19.6K −$5.61/SF
NOI
$45.8K $13.10/SF
Area
Houston, TX
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$915,800
Cap Rate 7%
$654,143
Cap Rate 9%
$508,778
Alternative Uses
Best Use
Multifamily LT 5
$654.1K
$572.4K – $763.2K
NOI $45,790 @ 7.0% cap · market cap 5.72%
Second Best
Apartment 5plus
$565.8K
$495.1K – $660.1K
NOI $39,607 @ 7.0% cap · market cap 4.95%
Theoretical Best
Office A
$899.0K
$786.6K – $1.05M
NOI $62,928 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,352
Businesses Nearby
Explore this area
Business Placement
Demographics for 77007, TX
42,908
Population
26,281
Households
1.6
Avg Household Size
34
Median Age
80%
College-Educated
99%
High-School Grad
7.5 sq mi
ZIP Area
5,721
Density / Sq Mi
$140,878
Median Household Income
$92,408
Median Earnings
$1,951
Median Rent
$501,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Updated corner-lot property with a two-story arrangement of residences on a quiet residential street.
Where is this quadplex located?
The property is located at 2302 Colorado Street Houston, TX.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Four units, each with two bedrooms and two full bathrooms; 3,496 square feet in a 2007‑built property; Two residences upstairs and two downstairs
