Cash-Flowing Fourplex Near
For Sale
$675,000
3918 Anita Street, Houston, TX 77004
Fourplex near University of Houston, fully leased, consistent income.
Property Size3,500 SF
Days on Market161
Property Features for 3918 Anita Street
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Multi Family,Quadruplex
Taxes and HOA fees
Annual Taxes
$9,455
Building Details
Building Size
3,500 SF
Year Built
1968
Listing Agency:
Creekview Realty
(281) 444-7071
Listed By:
John Prell · License #0493630
(281) 444-7071
Source:
Greenwoodking
Added: Mar 23
Changed: Aug 23
Last Checked: Aug 29 at 3:32PM
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 Creekview Realty
Investment Insights
Based on property information with market context.
This well-maintained fourplex, featuring a new roof, is located steps from the University of Houston. The property is fully leased, providing consistent income. Situated in a high-demand rental corridor near the University of Houston, which has over 46,000 students, this property offers strong upside potential as the university continues its campus expansion and investment. The location provides convenient access to Downtown, the Texas Medical Center, and the East Downtown Houston (EaDo) redevelopment area. Major transportation routes, including I-45, 288, and the MetroRail, are easily accessible, as are the Texas Medical Center and other major job hubs. The surrounding area features new construction and ongoing growth. This property is suitable for buy-and-hold investors or those seeking stable income with long-term appreciation potential.
Key Highlights
- Cash‑flowing fourplex fully leased with consistent income.
- Prime location steps from the University of Houston (46,000+ students).
- Strong upside potential due to U of H expansion and area growth.
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
$45,842
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
6.79%
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%
$916,840
$916.8K
Cap Rate 7%
$654,886
$654.9K
Cap Rate 9%
$509,356
$509.4K
Market Conditions
NOI Build-Up for 3,500 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
$69.3K $19.80/SF
− Vacancy
−$3.8K −$1.09/SF
EGI
$65.5K $18.71/SF
− OpEx
−$19.6K −$5.61/SF
NOI
$45.8K $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%
$916,840
Cap Rate 7%
$654,886
Cap Rate 9%
$509,356
Alternative Uses
Best Use
Multifamily LT 5
$654.9K
$573.0K – $764.0K
NOI $45,842 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$566.5K
$495.7K – $660.9K
NOI $39,652 @ 7.0% cap · market cap 5.87%
Theoretical Best
Office A
$900.0K
$787.5K – $1.05M
NOI $63,000 @ 7.0% cap · market cap 9.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
857
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 - Fourplex near University of Houston, fully leased, consistent income.
Where is this quadplex located?
The property is located at 3918 Anita Street Houston, TX.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Cash‑flowing fourplex fully leased with consistent income.; Prime location steps from the University of Houston (46,000+ students).; Strong upside potential due to U of H expansion and area growth.
