Brick
505 Harvard Street, Houston, TX 77007
For Sale
$950,000
Pending
Three apartments include a ground-floor residence with three bedrooms and two bathrooms.
Property Size3,602 SF
Days on Market51
Property Features for 505 Harvard Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Amenities
custom woodwork
skylights
architectural details
loft areas
Building Details
Building Size
Year Built
Buildings
Construction
Listing Agency:
Compass RE Texas, LLC - The Woodlands
Listed By:
Cheryl Ford
(281) 786-6692
Source:
Nancyalmodovar
Added: Sep 24
Changed: Nov 9
Last Checked: Nov 12 at 3:44PM
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 Compass RE Texas, LLC - The Woodlands
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Investment Insights
Based on property information with market context.
Built in 1920, this brick triplex contains three apartments with custom woodwork, skylights, and distinctive architectural details. The ground-floor residence has three bedrooms and two bathrooms; the two upper apartments each have one bedroom. The ground-floor unit has been owner-occupied for more than 30 years.
Key Highlights
- Three‑apartment brick property built in 1920
- Ground‑floor residence includes 3 bedrooms and 2 bathrooms
- Two upper apartments, each with 1 bedroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,178
Cap Rate
4.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$943,560
$943.6K
Cap Rate 7%
$673,971
$674.0K
Cap Rate 9%
$524,200
$524.2K
Market Conditions
NOI Build-Up for 3,602 SF
Gross rent
$71.3K $19.80/SF
− Vacancy
−$3.9K −$1.09/SF
EGI
$67.4K $18.71/SF
− OpEx
−$20.2K −$5.61/SF
NOI
$47.2K $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 Rate 5%
$943,560
Cap Rate 7%
$673,971
Cap Rate 9%
$524,200
Alternative Uses
Best Use
Multifamily LT 5
$674.0K
$589.7K – $786.3K
NOI $47,178 @ 7.0% cap · market cap 4.97%
Second Best
Apartment 5plus
$583.0K
$510.1K – $680.1K
NOI $40,808 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$926.2K
$810.5K – $1.08M
NOI $64,836 @ 7.0% cap · market cap 6.82%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,591
Businesses Nearby
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Business Placement
Demographics for 77007, TX
42,908
Population
26,281
Households
1.6
Avg Household Size
34
Median Age
80%
College-Educated
99%
High-School Grad
7.5 sq mi
ZIP Area
5,721
Density / Sq Mi
$140,878
Median Household Income
$92,408
Median Earnings
$1,951
Median Rent
$501,300
Median Home Value
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Market
Average Price Trend$/SF for Triplexes in Houston, TX
Properties on Market for Triplexes in Houston
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments include a ground-floor residence with three bedrooms and two bathrooms.
Where is this triplex located?
The property is located at 505 Harvard 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‑apartment brick property built in 1920; Ground‑floor residence includes 3 bedrooms and 2 bathrooms; Two upper apartments, each with 1 bedroom
