Residential Income Property with
For Sale
$775,000
324 W Alabama Street, Houston, TX 77006
Built in 1900 with a balcony, electric ceiling fans, and kitchen appliances including a microwave, dishwasher, and refrigerator.
Property Size4,103 SF
Price / SF$188.89
Days on Market167
Property Features for 324 W Alabama Street
General Information
Standard status
Active
Size
4,103 SF
Property subtype
Residential Income
Lease Term
Month To Month
Amenities
Ceiling Fan(s), Electric
Electric
Microwave, Dishwasher, Refrigerator
Balcony
Building Details
Building Size
4,103 SF
Year Built
1900
Stories
2
Listed By:
Evan Mangan · License #0703070
(281) 713-0720
Source:
Evrealestate
Added: Apr 30
Changed: Oct 7
Last Checked: Oct 12 at 7:28PM
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 Evan Mangan
Investment Insights
Based on property information with market context.
This residential income property at 324 W Alabama Street includes a balcony, electric ceiling fans, and a kitchen equipped with a microwave, dishwasher, and refrigerator. The building dates to 1900 and has a reported property size of 4,103.
The property is in Houston, Texas, within Harris County. Access directions reference I-69, Fannin Street, Wentworth Street, San Jacinto Street, and Alabama Street.
The property is in Houston, Texas, within Harris County. Access directions reference I-69, Fannin Street, Wentworth Street, San Jacinto Street, and Alabama Street.
Key Highlights
- Residential income property at 324 W Alabama Street, Houston, TX 77006
- Built in 1900
- Balcony included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$46,484
Cap Rate
6.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$929,680
$929.7K
Cap Rate 7%
$664,057
$664.1K
Cap Rate 9%
$516,489
$516.5K
Market Conditions
NOI Build-Up for 4,103 SF
Gross rent
$90.1K $21.96/SF
− Vacancy
−$5.6K −$1.36/SF
EGI
$84.5K $20.60/SF
− OpEx
−$38.0K −$9.27/SF
NOI
$46.5K $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 Rate 5%
$929,680
Cap Rate 7%
$664,057
Cap Rate 9%
$516,489
Alternative Uses
Best Use
Apartment 5plus
$664.1K
$581.1K – $774.7K
NOI $46,484 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.06M
$923.2K – $1.23M
NOI $73,854 @ 7.0% cap · market cap 9.53%
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
3,773
Businesses Nearby
Explore this area
Business Placement
Demographics for 77006, TX
24,129
Population
16,654
Households
1.4
Avg Household Size
36
Median Age
80%
College-Educated
98%
High-School Grad
2.3 sq mi
ZIP Area
10,491
Density / Sq Mi
$102,003
Median Household Income
$73,275
Median Earnings
$1,761
Median Rent
$599,500
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 1900 with a balcony, electric ceiling fans, and kitchen appliances including a microwave, dishwasher, and refrigerator.
Where is this residential income property located?
The property is located at 324 W Alabama Street Houston, TX.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: Residential income property at 324 W Alabama Street, Houston, TX 77006; Built in 1900; Balcony included
