22-Room Apartment
For Sale
$325,000
2305 Terry Street, Houston, TX 77009
Tenant-occupied apartment property with a separate back house and window AC units.
Property Size1,570 SF
Days on Market52
Property Features for 2305 Terry Street
General Information
Standard status
Active
Size
1,570 SF
Property subtype
Multi Family,5 Plus
Property Condition
Severity
Repairs Needed
Evidence
minor plumbing repairs
Taxes and HOA fees
Annual Taxes
$4,929
Building Details
Building Size
1,570 SF
Year Built
1925
Listing Agency:
JLA Realty
Listed By:
Mark Corrales
(832) 630-6779
Source:
Nanproperties
Added: Aug 29
Changed: Oct 7
Last Checked: Oct 16 at 2:32PM
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 JLA Realty
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Investment Insights
Based on property information with market context.
Built in 1925, this apartment property is configured with 22 rooms for rent and a separate back house. The existing room-rental setup is tenant-occupied, with 5 rooms vacant as of 8/26. Make-ready work has been completed in some areas, along with minor plumbing repairs.
The property has composition shingle roofing that is 10+ years old and relies on window AC units. There is no garage or carport. Appliances currently at the property will remain with the sale. The Houston location provides access to major roads, area businesses, and nearby amenities.
The property has composition shingle roofing that is 10+ years old and relies on window AC units. There is no garage or carport. Appliances currently at the property will remain with the sale. The Houston location provides access to major roads, area businesses, and nearby amenities.
Key Highlights
- 22 rooms for rent with a separate back house
- Tenant‑occupied configuration with 5 rooms vacant as of 8/26
- Built in 1925
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,787
Cap Rate
5.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$355,740
$355.7K
Cap Rate 7%
$254,100
$254.1K
Cap Rate 9%
$197,633
$197.6K
Market Conditions
NOI Build-Up for 1,570 SF
Gross rent
$34.5K $21.96/SF
− Vacancy
−$2.1K −$1.36/SF
EGI
$32.3K $20.60/SF
− OpEx
−$14.6K −$9.27/SF
NOI
$17.8K $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 Rate 5%
$355,740
Cap Rate 7%
$254,100
Cap Rate 9%
$197,633
Alternative Uses
Best Use
Apartment 5plus
$254.1K
$222.3K – $296.5K
NOI $17,787 @ 7.0% cap · market cap 5.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$403.7K
$353.3K – $471.0K
NOI $28,260 @ 7.0% cap · market cap 8.70%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
733
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Tenant-occupied apartment property with a separate back house and window AC units.
Where is this apartment building located?
The property is located at 2305 Terry Street Houston, TX.
What is the asking price?
The asking price for this property is $325,000.
What are key features of this property?
This property features: 22 rooms for rent with a separate back house; Tenant‑occupied configuration with 5 rooms vacant as of 8/26; Built in 1925
