Triplex with Renovated 1st
For Sale
$550,000
5144 Pease Street # 2, Houston, TX 77023
Triplex with all units rented and a remodeled first floor featuring updated windows, finishes, and a new sewage line.
Days on Market31
Property Features for 5144 Pease Street # 2
General Information
Standard status
Active
Property subtype
Multi Family,Triplex
Building Details
Building Size
3,360 SF
Year Built
1940
Listing Agency:
5th Stream Realty
(281) 650-0598
Listed By:
Tim Tran
(281) 650-0598
Source:
Mpowerrealtygroup
Added: Jul 1
Changed: Jul 31
Last Checked: Jul 31 at 11:07AM
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 5th Stream Realty
Investment Insights
Based on property information with market context.
This triplex offers income-producing units with a remodeled first-floor layout. The remodeled 1st floor features 3 beds and 2.5 baths, along with new windows/doors. Interior finishes include porcelain floors in the kitchen and baths, plus ceramic/laminate flooring throughout, complemented by a kitchen with stainless steel appliances, custom cabinets, and granite countertops. Additional improvements include a new sewage line, ceiling fans, and a private fence. The property also includes a new 30-year roof installed July/26.
Built in 1940, the property is located at 5144 Pease Street #2 in Houston, TX 77023.
The combination of in-place tenants and recent updates makes this a straightforward option for investors and owner-occupants looking for a triplex setup near major employment and education destinations.
Built in 1940, the property is located at 5144 Pease Street #2 in Houston, TX 77023.
The combination of in-place tenants and recent updates makes this a straightforward option for investors and owner-occupants looking for a triplex setup near major employment and education destinations.
Key Highlights
- New 30‑year roof installed July/26
- Remodeled 1st floor with 3 beds and 2.5 baths
- New windows/doors and new sewage line
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $66.5k | $19.80 |
| − Vacancy | −$3.7k | −$1.09 |
| EGI | $62.9k | $18.71 |
| − OpEx | −$18.9k | −$5.61 |
| NOI | $44.0k | $13.10 |
3,360 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$628.7K
$550.1K – $733.5K
NOI $44,008 @ 7.0% cap · market cap 8.00%
Second Best
Apartment 5plus
$543.8K
$475.8K – $634.4K
NOI $38,066 @ 7.0% cap · market cap 6.92%
Theoretical Best
Office A
$864.0K
$756.0K – $1.01M
NOI $60,480 @ 7.0% cap · market cap 11.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
757
Businesses Nearby
Explore this area
Business Placement
Demographics for 77023, TX
26,780
Population
11,850
Households
2.3
Avg Household Size
36
Median Age
24%
College-Educated
75%
High-School Grad
5.5 sq mi
ZIP Area
4,869
Density / Sq Mi
$50,018
Median Household Income
$35,730
Median Earnings
$1,079
Median Rent
$279,300
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?
Triplex - Triplex with all units rented and a remodeled first floor featuring updated windows, finishes, and a new sewage line.
Where is this triplex located?
The property is located at 5144 Pease Street # 2 Houston, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: New 30‑year roof installed July/26; Remodeled 1st floor with 3 beds and 2.5 baths; New windows/doors and new sewage line
