Montrose Multifamily Investment
For Sale
$1,245,000
3403 Yupon St, Houston, TX 77006
Well-maintained 6-unit property in prestigious Montrose area.
Property Size3,694 SF
Lot Size0.14 Acres
Days on Market268
Property Features for 3403 Yupon St
General Information
Standard status
Active
Size
3,694 SF
Lot size
0.14 Acres
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$17,203
Building Details
Building Size
3,694 SF
Year Built
1912
Stories
2
Units
6
Listing Agency:
(832) 691-8533
Listed By:
Gabriel Torre
(832) 691-8533
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 22
Last Checked: Aug 23 at 8:56AM
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 Gabriel Torre
Investment Insights
Based on property information with market context.
This well-maintained property features a total of 6 units, including 4 two-bedroom units and 2 one-bedroom units. One of the two-bedroom units has been completely renovated with a modern, classic, elegant, and upscale design. Each unit has a different layout and design. The property is situated on a 6,250 square foot lot in the Montrose area. The location is approximately 7-12 minutes from the Medical Center, Rice University, and Downtown Houston. The property is within walking distance of numerous restaurants, cafes, and bars. Allen Parkway, with jogging trails and two dog parks, is an 8-minute drive away.
Key Highlights
- Prime Montrose location, walking distance to restaurants, cafes, and bars.
- Strong investment opportunity with 6 units (4 two‑bedroom, 2 one‑bedroom).
- Larger than average lot size: 6,250 SqFt.
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
$41,850
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
3.36%
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%
$837,000
$837.0K
Cap Rate 7%
$597,857
$597.9K
Cap Rate 9%
$465,000
$465.0K
Market Conditions
NOI Build-Up for 3,694 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
$81.1K $21.96/SF
− Vacancy
−$5.0K −$1.36/SF
EGI
$76.1K $20.60/SF
− OpEx
−$34.2K −$9.27/SF
NOI
$41.8K $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%
$837,000
Cap Rate 7%
$597,857
Cap Rate 9%
$465,000
Alternative Uses
Best Use
Apartment 5plus
$597.9K
$523.1K – $697.5K
NOI $41,850 @ 7.0% cap · market cap 3.36%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$949.9K
$831.2K – $1.11M
NOI $66,492 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,006
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained 6-unit property in prestigious Montrose area.
Where is this apartment building located?
The property is located at 3403 Yupon St Houston, TX.
What is the asking price?
The asking price for this property is $1,245,000.
What are key features of this property?
This property features: Prime Montrose location, walking distance to restaurants, cafes, and bars.; Strong investment opportunity with 6 units (4 two‑bedroom, 2 one‑bedroom).; Larger than average lot size: 6,250 SqFt.
