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    Historical Houston Property with Apartments Title is generated by Realmo AI

    5009 N Main St, Houston, TX 77009

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    For Sale
    $430,000

    Historical property with main house, garage apartment, and studio apartment.

    Type:Investment
    Lot size:
    0.17 Acres
    Added:
    Mar 23, 2026
    Days on Market:
    73
    Last Refresh:
    Mar 19 at 9:04 am

    Property Features for 5009 N Main St

    General Information

    Standard status
    Active
    Lot size
    0.17 Acres
    Property subtype
    Investment

    Building Details

    Year Built
    1928

    We can help!

    Listing Contact
    Jordan Denike

    Listing agent Jordan Denike

    Listing office

    Listing date Mar 23, 2026

    Source Elliman

    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 Jordan Denike

    HighLights

    • Excellent location in the heart of Houston, minutes from I‑45, 610 Loop, Woodland Heights, Downtown, UHD Campus, Galleria and the Medical Center.
    • Property consists of a main house, garage apartment, and studio apartment, offering multiple rental income streams or flexible living arrangements.
    • Main house features granite countertops, custom birch cabinets, and a gas stove in the kitchen.
    • Garage apartment includes a balcony accessible from the master bedroom and living area via French doors.
    • Studio apartment has stainless steel appliances and a washer.
    • Property includes a natural gas generator and lawn sprinkler system.

    Overview

    This historical property is located in the heart of Houston and includes a main house, a garage apartment, and a studio apartment. The main house features granite countertops, custom birch cabinets, and a gas stove in the kitchen. Tile flooring is present throughout the common areas, while the bedrooms have wood laminate flooring and antique bronze fixtures. The main house also includes a natural gas generator, a lawn sprinkler system, and ceiling fans in all rooms. The garage apartment has two bedrooms with carpeting and ceiling fans. The kitchen is equipped with espresso cabinets, tile flooring, and a breakfast bar. French doors lead to a balcony from the master bedroom and living area. The studio apartment features hickory cabinets, stainless appliances, a washer, and a tile/carpet combination. The property is located minutes from I-45, 610 Loop, Woodland Heights, Downtown, UHD Campus, Galleria, and the Medical Center. This property is suitable for investors looking to collect rent while re-developing or using part of the property.
    Property Profile Location Intelligence

    Current Use by Public Records

    21st Century Holistic ... Physician Flying Squid Tattoo Tattoo & Piercing Shop

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Fort Bend
    State
    Texas
    Longitude
    -95.3854281
    Latitude
    29.8003483

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    FAQs

    What type of property is this?
    Apartment building - Historical property with main house, garage apartment, and studio apartment.
    Where is this apartment building located?
    The property is located at 5009 N Main St Houston, TX.
    What is the asking price?
    The asking price for this property is $430,000.
    What are key features of this property?
    This property features: Excellent location in the heart of Houston, minutes from I‑45, 610 Loop, Woodland Heights, Downtown, UHD Campus, Galleria and the Medical Center.; Property consists of a main house, garage apartment, and studio apartment, offering multiple rental income streams or flexible living arrangements.; Main house features granite countertops, custom birch cabinets, and a gas stove in the kitchen.
    We can help!
    Listing Contact
    Jordan Denike
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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