Houston Fourplex Near Hobby
For Sale
$549,000
6703 Biggs Ct 4, Houston, TX 77061
Fourplex with 2 and 1-bedroom units near Hobby Airport.
Property Size3,162 SF
Lot Size0.21 Acres
Days on Market279
Property Features for 6703 Biggs Ct 4
General Information
Standard status
Active
Size
3,162 SF
Lot size
0.21 Acres
Property subtype
Investment
Lease Term
12 months
Taxes and HOA fees
Annual Taxes
$6,275
Building Details
Building Size
3,162 SF
Year Built
1965
Stories
2
Units
2
Listing Agency:
RUTH LONGORIA, REALTORS
Listed By:
Ruth Longoria · License #0382593
(713) 851-2139
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 23
Last Checked: Sep 1 at 9:53PM
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 RUTH LONGORIA, REALTORS
Investment Insights
Based on property information with market context.
This fourplex property features two 2-bedroom units and two 1-bedroom units. Interior features include granite countertops, tile flooring, and carpet. A spacious backyard provides an area for outdoor activities. Carport parking is available. The property is located near Hobby Airport, Downtown Houston, and the University of Houston. This multi-family property is suitable for investors or owner-occupants and offers potential for rental income or personal use.
Key Highlights
- Fourplex Property: Rare opportunity for multi‑family investment or owner‑occupancy.
- Prime Location: Conveniently located near Hobby Airport, Downtown Houston, and U of H.
- Unit Mix: Features 2 spacious 2‑bedroom units and 2 cozy 1‑bedroom units.
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
$41,415
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
7.54%
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%
$828,300
$828.3K
Cap Rate 7%
$591,643
$591.6K
Cap Rate 9%
$460,167
$460.2K
Market Conditions
NOI Build-Up for 3,162 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
$62.6K $19.80/SF
− Vacancy
−$3.4K −$1.09/SF
EGI
$59.2K $18.71/SF
− OpEx
−$17.7K −$5.61/SF
NOI
$41.4K $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%
$828,300
Cap Rate 7%
$591,643
Cap Rate 9%
$460,167
Alternative Uses
Best Use
Multifamily LT 5
$591.6K
$517.7K – $690.3K
NOI $41,415 @ 7.0% cap · market cap 7.54%
Second Best
Apartment 5plus
$511.8K
$447.8K – $597.1K
NOI $35,823 @ 7.0% cap · market cap 6.53%
Theoretical Best
Office A
$813.1K
$711.5K – $948.6K
NOI $56,916 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
670
Businesses Nearby
Explore this area
Business Placement
Demographics for 77061, TX
23,398
Population
9,942
Households
2.4
Avg Household Size
34
Median Age
15%
College-Educated
69%
High-School Grad
7.5 sq mi
ZIP Area
3,120
Density / Sq Mi
$44,520
Median Household Income
$32,659
Median Earnings
$973
Median Rent
$215,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex with 2 and 1-bedroom units near Hobby Airport.
Where is this quadplex located?
The property is located at 6703 Biggs Ct 4 Houston, TX.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Fourplex Property: Rare opportunity for multi‑family investment or owner‑occupancy.; Prime Location: Conveniently located near Hobby Airport, Downtown Houston, and U of H.; Unit Mix: Features 2 spacious 2‑bedroom units and 2 cozy 1‑bedroom units.
