Quadplex with Lease-Ready
For Sale
$390,000
3721 Tuam Street # 4, Houston, TX 77004
Four-unit property with two completed residences and two units requiring finishing work.
Property Size2,668 SF
Days on Market87
Property Features for 3721 Tuam Street # 4
General Information
Standard status
Active
Size
2,668 SF
Property subtype
Multi Family,Quadruplex
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,789
Building Details
Building Size
2,668 SF
Year Built
1952
Listing Agency:
Inner Loop West
(832) 247-6333
Listed By:
Brian Janak
(832) 247-6333
Source:
Greenwoodking
Added: May 13
Changed: Aug 2
Last Checked: Aug 6 at 4:21AM
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 Inner Loop West
Investment Insights
Based on property information with market context.
This 1952-built quadplex contains four similarly configured residences, each offering two bedrooms, one bathroom, and 650 SF. Two units are ready for lease, while the remaining two are unfinished and require additional work before occupancy. The property includes parking positioned in front of the building, with space for three vehicles. Window units and appliances may be negotiable as part of the sale. Located at 3721 Tuam Street in Houston, the property offers a defined four-unit layout with a combination of completed and incomplete residential spaces.
Key Highlights
- Four‑unit quadplex built in 1952
- Each unit includes 2 bedrooms, 1 bathroom, and 650 SF
- Two units are ready for lease
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
$34,945
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
8.96%
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%
$698,900
$698.9K
Cap Rate 7%
$499,214
$499.2K
Cap Rate 9%
$388,278
$388.3K
Market Conditions
NOI Build-Up for 2,668 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
$52.8K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$49.9K $18.71/SF
− OpEx
−$15.0K −$5.61/SF
NOI
$34.9K $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%
$698,900
Cap Rate 7%
$499,214
Cap Rate 9%
$388,278
Alternative Uses
Best Use
Multifamily LT 5
$499.2K
$436.8K – $582.4K
NOI $34,945 @ 7.0% cap · market cap 8.96%
Second Best
Apartment 5plus
$431.8K
$377.8K – $503.8K
NOI $30,226 @ 7.0% cap · market cap 7.75%
Theoretical Best
Office A
$686.1K
$600.3K – $800.4K
NOI $48,024 @ 7.0% cap · market cap 12.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
801
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
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 - Four-unit property with two completed residences and two units requiring finishing work.
Where is this quadplex located?
The property is located at 3721 Tuam Street # 4 Houston, TX.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Four‑unit quadplex built in 1952; Each unit includes 2 bedrooms, 1 bathroom, and 650 SF; Two units are ready for lease
