Renovated Four-Unit
3229 Holman St 4, Houston, TX 77004
For Sale
New
$485,000
Each residence has its own kitchen, living room, and water and electrical meters.
Property Size1,632 SF
Days on Market5
Property Features for 3229 Holman St 4
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Utilities to Site
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Amenities
fully fenced
Building Details
Building Size
Year Built
Stories
Units
Listing Agency:
Resource Realty
Listed By:
Justin Dees
(832) 776-5939
Source:
Elliman
Added: Nov 6
Last Checked: Nov 10 at 8:31AM
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 Resource Realty
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Investment Insights
Based on property information with market context.
This four-unit residential property contains four 1-bedroom, 1-bathroom apartments, each measuring 408 square feet. Individual kitchens are equipped with a stainless steel refrigerator, microwave, electric stove, and tankless water heater. Recent work includes the foundation, roof, HVAC, plumbing, electrical, flooring, bathrooms, kitchens, bedrooms, and interior paint. The property is fully fenced.
The property is next to the University of Houston and Texas Southern University, seven minutes from Toyota Center, and near Downtown Houston. Walk Score is 66, Bike Score is 86, and Transit Score is 57.
The property is next to the University of Houston and Texas Southern University, seven minutes from Toyota Center, and near Downtown Houston. Walk Score is 66, Bike Score is 86, and Transit Score is 57.
Key Highlights
- Four apartments, each with 1 bedroom, 1 bathroom, and 408 square feet
- Renovation work includes foundation repair, roof, HVAC, plumbing, electrical, and interior finishes
- Each unit has separate water and electrical meters
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,375
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$427,500
$427.5K
Cap Rate 7%
$305,357
$305.4K
Cap Rate 9%
$237,500
$237.5K
Market Conditions
NOI Build-Up for 1,632 SF
Gross rent
$32.3K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.5K $18.71/SF
− OpEx
−$9.2K −$5.61/SF
NOI
$21.4K $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%
$427,500
Cap Rate 7%
$305,357
Cap Rate 9%
$237,500
Alternative Uses
Best Use
Multifamily LT 5
$305.4K
$267.2K – $356.3K
NOI $21,375 @ 7.0% cap · market cap 4.41%
Second Best
Apartment 5plus
$264.1K
$231.1K – $308.2K
NOI $18,489 @ 7.0% cap · market cap 3.81%
Theoretical Best
Office A
$419.7K
$367.2K – $489.6K
NOI $29,376 @ 7.0% cap · market cap 6.06%
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
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Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
956
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
$384,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Quadplexes in Houston, TX
Properties on Market for Quadplexes in Houston
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence has its own kitchen, living room, and water and electrical meters.
Where is this quadplex located?
The property is located at 3229 Holman St 4 Houston, TX.
What is the asking price?
The asking price for this property is $485,000.
What are key features of this property?
This property features: Four apartments, each with 1 bedroom, 1 bathroom, and 408 square feet; Renovation work includes foundation repair, roof, HVAC, plumbing, electrical, and interior finishes; Each unit has separate water and electrical meters
