Renovated 4-Unit Multifamily
New
For Sale
$415,000
5110 Wilmington St Unit 4, Houston, TX 77033
The single-story layout contains three two-bedroom residences and one one-bedroom residence.
Property Size2,760 SF
Price / SF$150.36
Days on Market2
Property Features for 5110 Wilmington St Unit 4
General Information
Standard status
Active
Size
2,760 SF
Property subtype
Multi-Family
Building Details
Year Built
1962
Listing Agency:
eXp Realty LLC
Listed By:
Sherwannia Cotton
(281) 451-0875
Source:
Vincesoldit
Added: Sep 30
Last Checked: Sep 30 at 11:28AM
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 1962, this single-story fourplex contains 2,760 square feet across three two-bedroom units and one one-bedroom unit. Interior work includes laminate flooring in living areas, bedrooms, and kitchens, along with bathroom tile, repaired and repainted cabinetry, updated plumbing fixtures, new toilets, lighting, doors, hardware, and baseboards. Drywall was repaired and the interiors were repainted throughout.
Building work also addressed plumbing, structural elements, and mold. All plumbing pipes were replaced, beams received repairs, and professional mold remediation with chemical treatment was completed. The property is at 5110 Wilmington St in Houston, near the Texas Medical Center and Downtown.
Building work also addressed plumbing, structural elements, and mold. All plumbing pipes were replaced, beams received repairs, and professional mold remediation with chemical treatment was completed. The property is at 5110 Wilmington St in Houston, near the Texas Medical Center and Downtown.
Key Highlights
- Four units: three 2‑bedroom residences and one 1‑bedroom residence
- 2,760 square feet in a single‑story building
- All plumbing pipes replaced; beam repairs completed
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
$36,150
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
8.71%
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%
$723,000
$723.0K
Cap Rate 7%
$516,429
$516.4K
Cap Rate 9%
$401,667
$401.7K
Market Conditions
NOI Build-Up for 2,760 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
$54.6K $19.80/SF
− Vacancy
−$3.0K −$1.09/SF
EGI
$51.6K $18.71/SF
− OpEx
−$15.5K −$5.61/SF
NOI
$36.1K $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%
$723,000
Cap Rate 7%
$516,429
Cap Rate 9%
$401,667
Alternative Uses
Best Use
Multifamily LT 5
$516.4K
$451.9K – $602.5K
NOI $36,150 @ 7.0% cap · market cap 8.71%
Second Best
Apartment 5plus
$446.7K
$390.9K – $521.1K
NOI $31,268 @ 7.0% cap · market cap 7.53%
Theoretical Best
Office A
$709.7K
$621.0K – $828.0K
NOI $49,680 @ 7.0% cap · market cap 11.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
494
Businesses Nearby
Explore this area
Business Placement
Demographics for 77033, TX
28,369
Population
10,228
Households
2.8
Avg Household Size
36
Median Age
9%
College-Educated
72%
High-School Grad
5.7 sq mi
ZIP Area
4,977
Density / Sq Mi
$37,081
Median Household Income
$28,459
Median Earnings
$1,204
Median Rent
$98,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Quadplex - The single-story layout contains three two-bedroom residences and one one-bedroom residence.
Where is this quadplex located?
The property is located at 5110 Wilmington St Unit 4 Houston, TX.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Four units: three 2‑bedroom residences and one 1‑bedroom residence; 2,760 square feet in a single‑story building; All plumbing pipes replaced; beam repairs completed
