Houston Multifamily Investment
For Sale
$599,000
5122 Clover St St, Houston, TX 77033
Fully occupied 7-unit property in a desirable Houston location.
Property Size2,380 SF
Lot Size0.12 Acres
Days on Market270
Property Features for 5122 Clover St St
General Information
Standard status
Active
Size
2,380 SF
Lot size
0.12 Acres
Property subtype
Investment
Lease Term
12 months
Taxes and HOA fees
Annual Taxes
$3,794
Building Details
Building Size
2,380 SF
Year Built
1956
Stories
1
Units
1
Listing Agency:
(713) 516-1789
Listed By:
Jordyn Golightly
(713) 516-1789
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 9
Last Checked: Aug 24 at 9:37AM
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 Jordyn Golightly
Investment Insights
Based on property information with market context.
Located in Houston, the property at 5124 Clover St is a fully occupied, 7-unit multifamily building. Each unit features a 2-bedroom, 1-bathroom floorplan. The property is equipped with separate metering, including 7 electrical meters, 7 gas meters, and 1 water meter. The current rental income is $6,485 per month, which amounts to $77,820 annually, with 6 units renting for $950 per month and 1 unit renting for $785 per month. Situated in a prime area of Houston, the property benefits from new development and city revitalization efforts, including recently improved roads and ongoing infrastructure upgrades. This property is presented as a solid investment opportunity with strong rental demand and long-term growth potential.
Key Highlights
- Fully occupied 7‑unit multifamily property generating $6,485/month in rental income.
- Each unit features a desirable 2 bedroom, 1 bathroom floorplan.
- Located in a prime Houston location experiencing revitalization and new development.
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
$26,963
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
4.50%
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%
$539,260
$539.3K
Cap Rate 7%
$385,186
$385.2K
Cap Rate 9%
$299,589
$299.6K
Market Conditions
NOI Build-Up for 2,380 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
$52.3K $21.96/SF
− Vacancy
−$3.2K −$1.36/SF
EGI
$49.0K $20.60/SF
− OpEx
−$22.1K −$9.27/SF
NOI
$27.0K $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%
$539,260
Cap Rate 7%
$385,186
Cap Rate 9%
$299,589
Alternative Uses
Best Use
Apartment 5plus
$385.2K
$337.0K – $449.4K
NOI $26,963 @ 7.0% cap · market cap 4.50%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$612.0K
$535.5K – $714.0K
NOI $42,840 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
377
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
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 - Fully occupied 7-unit property in a desirable Houston location.
Where is this apartment building located?
The property is located at 5122 Clover St St Houston, TX.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Fully occupied 7‑unit multifamily property generating $6,485/month in rental income.; Each unit features a desirable 2 bedroom, 1 bathroom floorplan.; Located in a prime Houston location experiencing revitalization and new development.
