Renovated
New
For Sale
$485,000
3229 Holman Street # 4, Houston, TX 77004
Four separately metered residences offer private kitchens, living areas, and tankless water heaters.
Property Size1,632 SF
Days on Market4
Property Features for 3229 Holman Street # 4
General Information
Standard status
Active
Size
1,632 SF
Property subtype
Multi Family,Quadruplex
Site & Location
Neighborhood
Greater Third Ward
Utilities to Site
Yes
Units
Unit Mix
4 x 1BR/1BA
Multifamily Units
4
Individually Metered Utilities
water, electricity
Taxes and HOA fees
Annual Taxes
$5,120
Amenities
stainless steel refrigerator
microwave
electric stove
tankless hot water heater
fully fenced property
Building Details
Building Size
1,632 SF
Year Built
1938
Buildings
1
Listing Agency:
Resource Realty
Listed By:
Justin Dees
(832) 776-5939
Source:
Greenwoodking
Added: Nov 3
Changed: Nov 4
Last Checked: Nov 4 at 11:32AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-unit residential property was built in 1938 and recently renovated. Each residence has one bedroom, one bathroom, a living room, and a kitchen, with 408 square feet per unit. Kitchens include a stainless steel refrigerator, microwave, and electric stove; each unit also has a tankless water heater. Water and electrical service are individually metered, and the property is fully fenced. Reported improvements include the foundation, roof, HVAC, plumbing, electrical, floors, bathrooms, kitchens, bedrooms, and paint.
The property is next to the University of Houston and Texas Southern University, near downtown Houston, and a seven-minute drive from Toyota Center. Leasing options identified for the units include student housing, travel medical professionals, short-term rental platforms, and corporate leasing.
The property is next to the University of Houston and Texas Southern University, near downtown Houston, and a seven-minute drive from Toyota Center. Leasing options identified for the units include student housing, travel medical professionals, short-term rental platforms, and corporate leasing.
Key Highlights
- Four units, each with 1 bedroom, 1 bathroom, and 408 square feet
- Renovations include foundation work, roof, HVAC, plumbing, electrical, interiors, and paint
- Separate water and electrical meters for every unit
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
Open Analytics
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
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
Frequently Asked Questions
What type of property is this?
Quadplex - Four separately metered residences offer private kitchens, living areas, and tankless water heaters.
Where is this quadplex located?
The property is located at 3229 Holman Street # 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 units, each with 1 bedroom, 1 bathroom, and 408 square feet; Renovations include foundation work, roof, HVAC, plumbing, electrical, interiors, and paint; Separate water and electrical meters for every unit
