Houston Triplex Multifamily Investment
For Sale
$529,000
2706 Isabella St, Houston, TX 77004
Well-located triplex in Houston's Midtown/Third Ward with income potential.
Property Size2,674 SF
Price / SF$197.83
Days on Market152
Property Features for 2706 Isabella St
General Information
Standard status
Active
Size
2,674 SF
Property subtype
Multi-Family
Building Details
Year Built
1930
Listing Agency:
The Sears Group
Listed By:
Sabika Jafri · License #670598
(281) 598-5800
Source:
Vincesoldit
Added: May 16
Changed: Oct 3
Last Checked: Oct 7 at 12:55PM
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 The Sears Group
Investment Insights
Based on property information with market context.
This triplex is a multifamily investment opportunity located in Houston's Midtown and Third Ward area. The property features three separate residential units with income potential. There is potential to add a fourth studio apartment unit, subject to buyer verification, zoning, and permits. The property is suited for investors seeking cash flow with future value-add expansion, as well as owner-occupants looking to offset ownership costs with rental income. Situated near the intersection of Midtown and Third Ward, the property is located minutes from Downtown, the Texas Medical Center, and major universities. It offers access to US-59, I-45, and I-288, and is surrounded by new development. The property is zoned for residential or mixed-use use and has no HOA fees. It is an infill opportunity for short-term or long-term rentals. The property size is 3202 square feet.
Key Highlights
- Prime location at the intersection of Midtown & Third Ward, near Downtown, Texas Medical Center, and major universities.
- Triplex with stable income potential and the possibility to add a fourth studio apartment unit (subject to verification).
- Ideal for investors seeking cash flow and future value‑add expansion.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,023
Cap Rate
6.62%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$700,460
$700.5K
Cap Rate 7%
$500,329
$500.3K
Cap Rate 9%
$389,144
$389.1K
Market Conditions
NOI Build-Up for 2,674 SF
Gross rent
$52.9K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$50.0K $18.71/SF
− OpEx
−$15.0K −$5.61/SF
NOI
$35.0K $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%
$700,460
Cap Rate 7%
$500,329
Cap Rate 9%
$389,144
Alternative Uses
Best Use
Multifamily LT 5
$500.3K
$437.8K – $583.7K
NOI $35,023 @ 7.0% cap · market cap 6.62%
Second Best
Apartment 5plus
$432.8K
$378.7K – $504.9K
NOI $30,294 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$687.6K
$601.7K – $802.2K
NOI $48,132 @ 7.0% cap · market cap 9.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,362
Businesses Nearby
Explore this area
Business Placement
Demographics for 77004, TX
37,005
Population
18,321
Households
2
Avg Household Size
31
Median Age
57%
College-Educated
96%
High-School Grad
5.2 sq mi
ZIP Area
7,116
Density / Sq Mi
$65,901
Median Household Income
$55,909
Median Earnings
$1,320
Median Rent
$384,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Well-located triplex in Houston's Midtown/Third Ward with income potential.
Where is this triplex located?
The property is located at 2706 Isabella St Houston, TX.
What is the asking price?
The asking price for this property is $529,000.
What are key features of this property?
This property features: Prime location at the intersection of Midtown & Third Ward, near Downtown, Texas Medical Center, and major universities.; Triplex with stable income potential and the possibility to add a fourth studio apartment unit (subject to verification).; Ideal for investors seeking cash flow and future value‑add expansion.
