Remodeled Quadplex with
For Sale
$560,000
521 Wisconsin St 4, South Houston, TX 77587
Fully occupied four-unit property with updated interiors, refreshed exterior, and on-site parking.
Property Size4,166 SF
Days on Market54
Property Features for 521 Wisconsin St 4
General Information
Standard status
Active
Size
4,166 SF
Property subtype
Investment
Occupancy
100%
Units
Unit Mix
4 x 2BR/1.5BA
Multifamily Units
4
Parking per Unit
2
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$12,319
Building Details
Building Size
4,166 SF
Year Built
1985
Stories
2
Units
1
Listing Agency:
Compass RE Texas, LLC - Houston
(832) 858-1737
Listed By:
Kathie Garza
(832) 858-1737
Source:
Elliman
Added: Jul 8
Changed: Aug 29
Last Checked: Aug 29 at 2:30PM
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 - Houston
Investment Insights
Based on property information with market context.
This 1985 quadplex contains four two-bedroom, one-and-a-half-bath units, each measuring approximately 1,000 square feet. The interiors feature open-concept kitchen and living areas, with three units remodeled. Exterior improvements were completed in 2022, and a newer electrical panel serves the property. On-site parking provides two spaces per unit.
The property is located at 521 Wisconsin St 4 in South Houston, near schools and with access to I-45 and Beltway 8. Hobby Airport is approximately 10 minutes away. The property is fully occupied and offers a consistent four-unit configuration for residential income use.
The property is located at 521 Wisconsin St 4 in South Houston, near schools and with access to I-45 and Beltway 8. Hobby Airport is approximately 10 minutes away. The property is fully occupied and offers a consistent four-unit configuration for residential income use.
Key Highlights
- Four‑unit quadplex with all units fully occupied
- Each unit offers 2 bedrooms, 1.5 baths, and about 1000sft
- Three units have been remodeled
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
$31,834
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
5.68%
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%
$636,680
$636.7K
Cap Rate 7%
$454,771
$454.8K
Cap Rate 9%
$353,711
$353.7K
Market Conditions
NOI Build-Up for 4,166 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
$50.0K $12.00/SF
− Vacancy
−$4.5K −$1.08/SF
EGI
$45.5K $10.92/SF
− OpEx
−$13.6K −$3.27/SF
NOI
$31.8K $7.64/SF
Area
Harris County, TX
Vacancy
9.03%
Lease Rate
$12.00 /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%
$636,680
Cap Rate 7%
$454,771
Cap Rate 9%
$353,711
Alternative Uses
Best Use
Multifamily LT 5
$454.8K
$397.9K – $530.6K
NOI $31,834 @ 7.0% cap · market cap 5.68%
Second Best
Apartment 5plus
$394.6K
$345.3K – $460.4K
NOI $27,621 @ 7.0% cap · market cap 4.93%
Theoretical Best
Office A
$1.14M
$995.3K – $1.33M
NOI $79,627 @ 7.0% cap · market cap 14.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
Explore this area
Business Placement
Demographics for 77587, TX
16,179
Population
5,549
Households
2.9
Avg Household Size
32
Median Age
9%
College-Educated
60%
High-School Grad
3.1 sq mi
ZIP Area
5,219
Density / Sq Mi
$52,407
Median Household Income
$30,669
Median Earnings
$1,174
Median Rent
$177,000
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?
Quadplex - Fully occupied four-unit property with updated interiors, refreshed exterior, and on-site parking.
Where is this quadplex located?
The property is located at 521 Wisconsin St 4 South Houston, TX.
What is the asking price?
The asking price for this property is $560,000.
What are key features of this property?
This property features: Four‑unit quadplex with all units fully occupied; Each unit offers 2 bedrooms, 1.5 baths, and about 1000sft; Three units have been remodeled
