Prime Location Corner Investment
For Sale
$625,000
301 Grace Street 4, Houston, TX 77003
Tenant-occupied investment property with individual kitchens and bathrooms.
Property Size2,284 SF
Price / SF$273.64
Days on Market373
Property Features for 301 Grace Street 4
General Information
Standard status
Active
Size
2,284 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Second Ward
Taxes and HOA fees
Annual Taxes
$6,872
Amenities
No
1
2
Appraiser
Ceiling Fan(s)
5000
2284
Building Details
Building Size
2,284 SF
Year Built
1928
Stories
2
Listing Agency:
Lawrence Realty
(281) 444-5140
Listed By:
Steve Caton
(713) 417-7227
Source:
Garygreene
Added: Oct 19, 2025
Changed: Oct 25
Last Checked: Oct 24 at 2:58PM
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 Lawrence Realty
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Investment Insights
Based on property information with market context.
This corner property is located in a prime location and is currently tenant-occupied on a month-to-month rent basis, making it an ideal investment opportunity. Each unit is equipped with its own bathroom and kitchen.
Key Highlights
- Prime location corner property
- Ideal investment property
- Tenant occupied (month‑to‑month)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,876
Cap Rate
4.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$517,520
$517.5K
Cap Rate 7%
$369,657
$369.7K
Cap Rate 9%
$287,511
$287.5K
Market Conditions
NOI Build-Up for 2,284 SF
Gross rent
$50.2K $21.96/SF
− Vacancy
−$3.1K −$1.36/SF
EGI
$47.0K $20.60/SF
− OpEx
−$21.2K −$9.27/SF
NOI
$25.9K $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%
$517,520
Cap Rate 7%
$369,657
Cap Rate 9%
$287,511
Alternative Uses
Best Use
Apartment 5plus
$369.7K
$323.5K – $431.3K
NOI $25,876 @ 7.0% cap · market cap 4.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$587.3K
$513.9K – $685.2K
NOI $41,112 @ 7.0% cap · market cap 6.58%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,168
Businesses Nearby
Explore this area
Business Placement
Demographics for 77003, TX
11,874
Population
6,201
Households
1.9
Avg Household Size
36
Median Age
49%
College-Educated
93%
High-School Grad
2.7 sq mi
ZIP Area
4,398
Density / Sq Mi
$88,837
Median Household Income
$63,831
Median Earnings
$1,562
Median Rent
$363,000
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?
Multifamily property - Tenant-occupied investment property with individual kitchens and bathrooms.
Where is this multifamily property located?
The property is located at 301 Grace Street 4 Houston, TX.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Prime location corner property; Ideal investment property; Tenant occupied (month‑to‑month)
