Remodeled Five-Townhome Apartment
For Sale
$1,690,000
5-1111 Autrey St, Houston, TX 77006
Five separate townhomes offer updated interiors, private patios, garages, and full appliance packages in Houston’s Museum District.
Property Size7,716 SF
Price / SF$219.03
Days on Market153
Property Features for 5-1111 Autrey St
General Information
Standard status
Active
Size
7,716 SF
Property subtype
Residential Income
Units
Unit Mix
5 x 2BR/2.5BA
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$29,955
Listing Agency:
Walzel Properties - Galleria
(302) 503-2137
Listed By:
Chidozie Osueke
(302) 503-2137
Source:
Exprealty
Added: Apr 3
Changed: Aug 31
Last Checked: Sep 1 at 11:15PM
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 Walzel Properties - Galleria
Investment Insights
Based on property information with market context.
Located at 5-1111 Autrey St in Houston’s Museum District, this multifamily property comprises five separate townhomes with recently remodeled interiors. Each residence includes two bedrooms, two and one-half bathrooms, a garage, and a private outdoor patio. Interior features include wood flooring, central HVAC, and a complete appliance package with washer and dryer.
The property is positioned about one mile from Hermann Park Golf Course, Rice University, and the Houston Medical Center. The separate townhome layout combines individual residential configurations with shared multifamily ownership, while the garages and private patios add functional outdoor and parking amenities to each residence.
The property is positioned about one mile from Hermann Park Golf Course, Rice University, and the Houston Medical Center. The separate townhome layout combines individual residential configurations with shared multifamily ownership, while the garages and private patios add functional outdoor and parking amenities to each residence.
Key Highlights
- Five separate townhomes within one multifamily property
- Each townhome includes 2 bedrooms and 2.5 bathrooms
- Private outdoor patio and garage provided for every townhome
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
$87,416
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
5.17%
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%
$1,748,320
$1.7M
Cap Rate 7%
$1,248,800
$1.2M
Cap Rate 9%
$971,289
$971.3K
Market Conditions
NOI Build-Up for 7,716 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
$169.4K $21.96/SF
− Vacancy
−$10.5K −$1.36/SF
EGI
$158.9K $20.60/SF
− OpEx
−$71.5K −$9.27/SF
NOI
$87.4K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,748,320
Cap Rate 7%
$1,248,800
Cap Rate 9%
$971,289
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.09M – $1.46M
NOI $87,416 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.98M
$1.74M – $2.31M
NOI $138,888 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,827
Businesses Nearby
Explore this area
Business Placement
Demographics for 77006, TX
24,129
Population
16,654
Households
1.4
Avg Household Size
36
Median Age
80%
College-Educated
98%
High-School Grad
2.3 sq mi
ZIP Area
10,491
Density / Sq Mi
$102,003
Median Household Income
$73,275
Median Earnings
$1,761
Median Rent
$599,500
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?
Apartment building - Five separate townhomes offer updated interiors, private patios, garages, and full appliance packages in Houston’s Museum District.
Where is this apartment building located?
The property is located at 5-1111 Autrey St Houston, TX.
What is the asking price?
The asking price for this property is $1,690,000.
What are key features of this property?
This property features: Five separate townhomes within one multifamily property; Each townhome includes 2 bedrooms and 2.5 bathrooms; Private outdoor patio and garage provided for every townhome
