Four-Unit Multifamily
New
For Sale
$685,000
4501 Averill St, Houston, TX 77009
Four residences provide a varied bedroom and bathroom mix near Downtown Houston.
Property Size3,949 SF
Price / SF$173.46
Days on Market7
Property Features for 4501 Averill St
General Information
Standard status
Active
Size
3,949 SF
Property subtype
Multi Family,Quadruplex
Units
Unit Mix
2 x 2BR/1BA, 1 x 4BR/2BA, 1 x 3BR/2BA
Multifamily Units
4
Additional Details
Public Transit
Yes
Building Details
Building Size
3,949 SF
Year Built
1935
Buildings
1
Listing Agency:
eXp Realty LLC
(832) 979-0160
Listed By:
Liuver Sanudo
(832) 979-0160
Source:
Mpowerrealtygroup
Added: Aug 18
Changed: Aug 24
Last Checked: Aug 23 at 10:51AM
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.
Built in 1935, this four-unit property contains 3,949 square feet of living space. The unit configuration includes two residences with 2 bedrooms and 1 bathroom each, along with a 4-bedroom, 2-bathroom residence and a 3-bedroom, 2-bathroom residence.
The property is located at 4501 Averill St in Houston, near Downtown Houston. Walk Score is 81, rated Very Walkable, while Bike Score is 71, rated Very Bikeable. Transit Score is 44, rated Some Transit. The four-residence layout provides a defined multifamily configuration with varied unit sizes and bedroom counts.
The property is located at 4501 Averill St in Houston, near Downtown Houston. Walk Score is 81, rated Very Walkable, while Bike Score is 71, rated Very Bikeable. Transit Score is 44, rated Some Transit. The four-residence layout provides a defined multifamily configuration with varied unit sizes and bedroom counts.
Key Highlights
- Four‑unit multifamily property with 3,949 SF of living space
- Unit mix includes two 2‑bedroom/1‑bath residences, one 4‑bedroom/2‑bath residence, and one 3‑bedroom/2‑bath residence
- Built in 1935
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
$51,723
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
7.55%
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%
$1,034,460
$1.0M
Cap Rate 7%
$738,900
$738.9K
Cap Rate 9%
$574,700
$574.7K
Market Conditions
NOI Build-Up for 3,949 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
$78.2K $19.80/SF
− Vacancy
−$4.3K −$1.09/SF
EGI
$73.9K $18.71/SF
− OpEx
−$22.2K −$5.61/SF
NOI
$51.7K $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%
$1,034,460
Cap Rate 7%
$738,900
Cap Rate 9%
$574,700
Alternative Uses
Best Use
Multifamily LT 5
$738.9K
$646.5K – $862.1K
NOI $51,723 @ 7.0% cap · market cap 7.55%
Second Best
Apartment 5plus
$639.1K
$559.2K – $745.7K
NOI $44,739 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$1.02M
$888.5K – $1.18M
NOI $71,082 @ 7.0% cap · market cap 10.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
764
Businesses Nearby
Explore this area
Business Placement
Demographics for 77009, TX
36,425
Population
17,890
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
78%
High-School Grad
6.2 sq mi
ZIP Area
5,875
Density / Sq Mi
$81,921
Median Household Income
$49,446
Median Earnings
$1,229
Median Rent
$403,600
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 residences provide a varied bedroom and bathroom mix near Downtown Houston.
Where is this quadplex located?
The property is located at 4501 Averill St Houston, TX.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 3,949 SF of living space; Unit mix includes two 2‑bedroom/1‑bath residences, one 4‑bedroom/2‑bath residence, and one 3‑bedroom/2‑bath residence; Built in 1935
