Renovated Quadplex with Reserved
For Sale
$925,000
4445 Rusk Street, Houston, TX 77023
Renovated multifamily property with full kitchens, covered patios, in-unit utility rooms, and reserved parking for each unit.
Property Size3,750 SF
Days on Market112
Property Features for 4445 Rusk Street
General Information
Standard status
Active
Size
3,750 SF
Property subtype
Multi Family,Quadruplex
Additional Details
Highway Access
Yes
Amenities
private patio spaces
air conditioning
custom kitchen amenities
premium stainless steel appliances
luxurious bathroom fixtures
restored hardwood floors
pristine landscaping
in-unit utility room
covered patio
Building Details
Building Size
3,750 SF
Year Built
1920
Tenancy
Multi
Listing Agency:
eXp Realty LLC
(281) 408-9121
Listed By:
Blanca Berlanga
(281) 408-9121
Source:
Mpowerrealtygroup
Added: Apr 17
Changed: Jul 31
Last Checked: Aug 6 at 3:44AM
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 quadplex, built in 1920, has undergone extensive renovations including a rebuilt foundation, new driveway, roof improvements, individual A/C units, custom kitchen amenities, stainless steel appliances, updated bathroom fixtures, restored hardwood floors, and refreshed landscaping. Each unit includes a full kitchen, full bath, in-unit utility room, covered patio, reserved parking, and contemporary finishes. The property also occupies an oversized double lot with private patio spaces.
Located at 4445 Rusk Street in Houston’s Eastwood neighborhood, the property is near parks, schools, metro rail, grocery stores, dining, and entertainment. It also offers access to I-45, downtown, the medical center, and universities.
Located at 4445 Rusk Street in Houston’s Eastwood neighborhood, the property is near parks, schools, metro rail, grocery stores, dining, and entertainment. It also offers access to I-45, downtown, the medical center, and universities.
Key Highlights
- Quadplex built in 1920
- Extensive renovations include rebuilt foundation, new driveway, roof, A/C units, kitchens, baths, hardwood floors, and landscaping
- Each unit includes a full kitchen, full bath, in‑unit utility room, and covered patio
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
$49,116
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
5.31%
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%
$982,320
$982.3K
Cap Rate 7%
$701,657
$701.7K
Cap Rate 9%
$545,733
$545.7K
Market Conditions
NOI Build-Up for 3,750 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
$74.3K $19.80/SF
− Vacancy
−$4.1K −$1.09/SF
EGI
$70.2K $18.71/SF
− OpEx
−$21.0K −$5.61/SF
NOI
$49.1K $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%
$982,320
Cap Rate 7%
$701,657
Cap Rate 9%
$545,733
Alternative Uses
Best Use
Multifamily LT 5
$701.7K
$614.0K – $818.6K
NOI $49,116 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$606.9K
$531.1K – $708.1K
NOI $42,484 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$964.3K
$843.8K – $1.13M
NOI $67,500 @ 7.0% cap · market cap 7.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
971
Businesses Nearby
Explore this area
Business Placement
Demographics for 77023, TX
26,780
Population
11,850
Households
2.3
Avg Household Size
36
Median Age
24%
College-Educated
75%
High-School Grad
5.5 sq mi
ZIP Area
4,869
Density / Sq Mi
$50,018
Median Household Income
$35,730
Median Earnings
$1,079
Median Rent
$279,300
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 - Renovated multifamily property with full kitchens, covered patios, in-unit utility rooms, and reserved parking for each unit.
Where is this quadplex located?
The property is located at 4445 Rusk Street Houston, TX.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Quadplex built in 1920; Extensive renovations include rebuilt foundation, new driveway, roof, A/C units, kitchens, baths, hardwood floors, and landscaping; Each unit includes a full kitchen, full bath, in‑unit utility room, and covered patio
