Remodeled
New
For Sale
$640,000
3415 Cochran St, Houston, TX 77009
Updated interiors support a varied residential unit mix near Downtown Houston.
Property Size2,772 SF
Days on Market7
Property Features for 3415 Cochran St
General Information
Standard status
Active
Size
2,772 SF
Property subtype
Multi Family,Quadruplex
Units
Unit Mix
2 x 2BR/1BA, 1 x 1BR/1BA, 1 x 2BR/2BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Building Size
2,772 SF
Year Built
1925
Buildings
1
Listing Agency:
eXp Realty LLC
(832) 979-0160
Listed By:
Liuver Sanudo
(832) 979-0160
Source:
Mpowerrealtygroup
Added: Aug 18
Changed: Aug 24
Last Checked: Aug 23 at 6:46AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This four-unit residential income property at 3415 Cochran St. in Houston was built in 1925 and has undergone extensive remodeling. The unit mix includes three two-bedroom residences and one one-bedroom residence, with three one-bath layouts and one two-bath layout. Together, the configuration provides a range of residential floor plans within a single multifamily asset.
The property is located near Downtown Houston, with access to major highways and surrounding employment centers. Walk Score is 70, indicating a very walkable setting, while Bike Score is 84 and Transit Score is 59. The combination of updated interiors, varied unit layouts, and urban access supports continued use as a residential income property.
The property is located near Downtown Houston, with access to major highways and surrounding employment centers. Walk Score is 70, indicating a very walkable setting, while Bike Score is 84 and Transit Score is 59. The combination of updated interiors, varied unit layouts, and urban access supports continued use as a residential income property.
Key Highlights
- Extensively remodeled four‑unit residential property
- Unit mix includes three 2 Bed / 1 Bath units, one 1 Bed / 1 Bath unit, and one 2 Bed / 2 Bath unit
- Located at 3415 Cochran St, Houston, TX 77009
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
$36,307
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
5.67%
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%
$726,140
$726.1K
Cap Rate 7%
$518,671
$518.7K
Cap Rate 9%
$403,411
$403.4K
Market Conditions
NOI Build-Up for 2,772 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
$54.9K $19.80/SF
− Vacancy
−$3.0K −$1.09/SF
EGI
$51.9K $18.71/SF
− OpEx
−$15.6K −$5.61/SF
NOI
$36.3K $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 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%
$726,140
Cap Rate 7%
$518,671
Cap Rate 9%
$403,411
Alternative Uses
Best Use
Multifamily LT 5
$518.7K
$453.8K – $605.1K
NOI $36,307 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$448.6K
$392.6K – $523.4K
NOI $31,404 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$712.8K
$623.7K – $831.6K
NOI $49,896 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
523
Businesses Nearby
Explore this area
Business Placement
Demographics for 77009, TX
36,425
Population
17,890
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
78%
High-School Grad
6.2 sq mi
ZIP Area
5,875
Density / Sq Mi
$81,921
Median Household Income
$49,446
Median Earnings
$1,229
Median Rent
$403,600
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?
Quadplex - Updated interiors support a varied residential unit mix near Downtown Houston.
Where is this quadplex located?
The property is located at 3415 Cochran St Houston, TX.
What is the asking price?
The asking price for this property is $640,000.
What are key features of this property?
This property features: Extensively remodeled four‑unit residential property; Unit mix includes three 2 Bed / 1 Bath units, one 1 Bed / 1 Bath unit, and one 2 Bed / 2 Bath unit; Located at 3415 Cochran St, Houston, TX 77009
