Renovated Multifamily
New
For Sale
$185,000
2816 S Bartell Drive, Houston, TX 77054
Updated residential units near NRG Stadium and the Medical Centre offer a centrally positioned multifamily asset.
Property Size840 SF
Days on Market6
Property Features for 2816 S Bartell Drive
General Information
Standard status
Active
Size
840 SF
Property subtype
Multi Family Home
Lease Term
1 Year
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$1,400
Building Details
Building Size
840 SF
Year Built
1982
Stories
1
Listing Agency:
Texas Ally Real Estate Group, LLC
(832) 388-3125
Listed By:
Mordekhai Harroch · License #0725110
(832) 388-3125
Source:
Keystonerg
Added: Aug 19
Changed: Aug 24
Last Checked: Aug 23 at 9:16AM
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
Investment Insights
Based on property information with market context.
This multifamily property at 2816 S Bartell Dr in Houston includes fully renovated residential units. The building was constructed in 1982, providing an established physical asset with updated interiors.
The property is located near NRG Stadium and the Medical Centre. WalkScore is 7, indicating a car-dependent setting; BikeScore is 32, and TransitScore is 38. These scores reflect available walking, biking, and transit access in the surrounding area.
The property is located near NRG Stadium and the Medical Centre. WalkScore is 7, indicating a car-dependent setting; BikeScore is 32, and TransitScore is 38. These scores reflect available walking, biking, and transit access in the surrounding area.
Key Highlights
- All residential units have been fully renovated
- Located at 2816 S Bartell Dr, Houston, TX 77054
- Near NRG Stadium and the Medical Centre
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
$9,516
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
5.14%
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%
$190,320
$190.3K
Cap Rate 7%
$135,943
$135.9K
Cap Rate 9%
$105,733
$105.7K
Market Conditions
NOI Build-Up for 840 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
$18.4K $21.96/SF
− Vacancy
−$1.1K −$1.36/SF
EGI
$17.3K $20.60/SF
− OpEx
−$7.8K −$9.27/SF
NOI
$9.5K $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%
$190,320
Cap Rate 7%
$135,943
Cap Rate 9%
$105,733
Alternative Uses
Best Use
Apartment 5plus
$135.9K
$119.0K – $158.6K
NOI $9,516 @ 7.0% cap · market cap 5.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$216.0K
$189.0K – $252.0K
NOI $15,120 @ 7.0% cap · market cap 8.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,933
Businesses Nearby
Explore this area
Business Placement
Demographics for 77054, TX
24,419
Population
18,845
Households
1.3
Avg Household Size
31
Median Age
65%
College-Educated
98%
High-School Grad
5.3 sq mi
ZIP Area
4,607
Density / Sq Mi
$59,087
Median Household Income
$48,452
Median Earnings
$1,413
Median Rent
$173,000
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?
Multifamily property - Updated residential units near NRG Stadium and the Medical Centre offer a centrally positioned multifamily asset.
Where is this multifamily property located?
The property is located at 2816 S Bartell Drive Houston, TX.
What is the asking price?
The asking price for this property is $185,000.
What are key features of this property?
This property features: All residential units have been fully renovated; Located at 2816 S Bartell Dr, Houston, TX 77054; Near NRG Stadium and the Medical Centre
