Triplex with Garage
New
For Sale
$950,000
4206 Law Street, Houston, TX 77005
Three occupied units offer private laundry, individual metering, and a flexible garage-apartment layout.
Property Size2,800 SF
Price / SF$339.29
Days on Market2
Property Features for 4206 Law Street
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA front, 1 x 1BR/1BA garage
Multifamily Units
3
Amenities
in-unit laundry
Yes
1
Appraiser
5000
2800
Building Details
Building Size
2,800 SF
Year Built
1999
Stories
2
Listing Agency:
SERHANT.
(713) 961-1722
Listed By:
Luz Garnica
(713) 269-8182
Source:
Garygreene
Added: Sep 9
Last Checked: Sep 9 at 3:25PM
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 SERHANT.
Investment Insights
Based on property information with market context.
This triplex includes two front residences, each arranged with one bedroom and one bathroom, plus a garage apartment with one bedroom, one bathroom, and bonus office space. The garage apartment also includes a full bath on the first floor. Private laundry is provided within each unit, and the residences are individually metered. The property was built in 1999 and contains 2,800 square feet.
Located in Houston’s West University area, the property is currently fully occupied. Its configuration combines three separate residences with additional office space in the garage apartment.
Located in Houston’s West University area, the property is currently fully occupied. Its configuration combines three separate residences with additional office space in the garage apartment.
Key Highlights
- Three‑unit property with two front residences and a garage apartment
- Two front units each offer 1 bedroom and 1 bathroom
- Garage apartment includes 1 bedroom, 1 bathroom, and bonus office space
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
$36,674
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
3.86%
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%
$733,480
$733.5K
Cap Rate 7%
$523,914
$523.9K
Cap Rate 9%
$407,489
$407.5K
Market Conditions
NOI Build-Up for 2,800 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
$55.4K $19.80/SF
− Vacancy
−$3.0K −$1.09/SF
EGI
$52.4K $18.71/SF
− OpEx
−$15.7K −$5.61/SF
NOI
$36.7K $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%
$733,480
Cap Rate 7%
$523,914
Cap Rate 9%
$407,489
Alternative Uses
Best Use
Multifamily LT 5
$523.9K
$458.4K – $611.2K
NOI $36,674 @ 7.0% cap · market cap 3.86%
Second Best
Apartment 5plus
$453.2K
$396.5K – $528.7K
NOI $31,722 @ 7.0% cap · market cap 3.34%
Theoretical Best
Office A
$720.0K
$630.0K – $840.0K
NOI $50,400 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,297
Businesses Nearby
Explore this area
Business Placement
Demographics for 77005, TX
28,241
Population
10,564
Households
2.7
Avg Household Size
36
Median Age
88%
College-Educated
98%
High-School Grad
3.8 sq mi
ZIP Area
7,432
Density / Sq Mi
$215,708
Median Household Income
$100,839
Median Earnings
$2,058
Median Rent
$1,354,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Triplex - Three occupied units offer private laundry, individual metering, and a flexible garage-apartment layout.
Where is this triplex located?
The property is located at 4206 Law Street Houston, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Three‑unit property with two front residences and a garage apartment; Two front units each offer 1 bedroom and 1 bathroom; Garage apartment includes 1 bedroom, 1 bathroom, and bonus office space
