Four-Unit Hardwood
For Sale
$1,205,000
Pending
4-2403 Watts St, Houston, TX 77030
Each residence offers two bedrooms, a full bath, appliances, and in-unit laundry.
Property Size4,334 SF
Days on Market11
Property Features for 4-2403 Watts St
General Information
Standard status
Pending
Size
4,334 SF
Property subtype
Residential Income
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$23,577
Amenities
hardwood floors
mature landscaping
appliances
washer/dryer
Building Details
Construction
mid-century
Listing Agency:
Greg R. Wellen
Listed By:
Greg Wellen
(832) 647-3287
Source:
Exprealty
Added: Oct 8
Changed: Oct 16
Last Checked: Oct 16 at 2:07PM
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 Greg R. Wellen
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This four-unit residential property has 4,334 square feet across four apartments, each configured with two bedrooms and one full bathroom. Hardwood flooring runs throughout the units, which include appliances and a washer and dryer. The roof was replaced in 2024.
The property occupies a corner lot with mature landscaping and rear parking for each unit, plus additional parking. It is within walking distance of Rice University and offers access to Metro Rail and the Medical Center.
The property occupies a corner lot with mature landscaping and rear parking for each unit, plus additional parking. It is within walking distance of Rice University and offers access to Metro Rail and the Medical Center.
Key Highlights
- Four apartments, each with two bedrooms and one full bathroom
- 4,334 square feet across the property
- Hardwood flooring throughout all four units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$56,765
Cap Rate
4.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,135,300
$1.1M
Cap Rate 7%
$810,929
$810.9K
Cap Rate 9%
$630,722
$630.7K
Market Conditions
NOI Build-Up for 4,334 SF
Gross rent
$85.8K $19.80/SF
− Vacancy
−$4.7K −$1.09/SF
EGI
$81.1K $18.71/SF
− OpEx
−$24.3K −$5.61/SF
NOI
$56.8K $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 Rate 5%
$1,135,300
Cap Rate 7%
$810,929
Cap Rate 9%
$630,722
Alternative Uses
Best Use
Multifamily LT 5
$810.9K
$709.6K – $946.1K
NOI $56,765 @ 7.0% cap · market cap 4.71%
Second Best
Apartment 5plus
$701.4K
$613.8K – $818.4K
NOI $49,101 @ 7.0% cap · market cap 4.07%
Theoretical Best
Office A
$1.11M
$975.2K – $1.30M
NOI $78,012 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
11,673
Businesses Nearby
Explore this area
Business Placement
Demographics for 77030, TX
13,221
Population
7,842
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
99%
High-School Grad
2.6 sq mi
ZIP Area
5,085
Density / Sq Mi
$79,415
Median Household Income
$62,929
Median Earnings
$1,684
Median Rent
$614,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Each residence offers two bedrooms, a full bath, appliances, and in-unit laundry.
Where is this quadplex located?
The property is located at 4-2403 Watts St Houston, TX.
What is the asking price?
The asking price for this property is $1,205,000.
What are key features of this property?
This property features: Four apartments, each with two bedrooms and one full bathroom; 4,334 square feet across the property; Hardwood flooring throughout all four units
