Triplex with Central
For Sale
$320,000
6712 Fulton Street, Houston, TX 77022
Well-configured triplex with three rental units, wood and tile finishes, and washer/dryer connections in Near Northside.
Property Size1,940 SF
Lot Size0.13 Acres
Days on Market98
Property Features for 6712 Fulton Street
General Information
Standard status
Active
Size
1,940 SF
Lot size
0.13 Acres
Property subtype
Multi Family,Triplex
Additional Details
Highway Access
Yes
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,404
Building Details
Building Size
1,940 SF
Year Built
1939
Tenancy
Multi
Listing Agency:
Dalton Wade Inc
Listed By:
Claudia Uribe-Esquivel
(281) 904-2670
Source:
Greenwoodking
Added: Jun 15
Changed: Sep 14
Last Checked: Sep 19 at 12:33PM
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 Dalton Wade Inc
Investment Insights
Based on property information with market context.
This triplex offers three income-producing units in a residential income configuration. Interiors feature wood, tile, and vinyl plank flooring, along with central HVAC. Each unit includes washer/dryer connections for added tenant convenience. The larger unit is laid out with 2 bedrooms and 1 bath, while the two additional units each provide 1 bedroom and 1 bath.
Located in Houston’s Near Northside area, the property sits on a 5,866 sq. ft. lot and provides convenient access to major employment and entertainment corridors. Commuting options are supported by nearby routes including I-45 and 610, with Downtown Houston and Hardy Yards within reach. Showings are available by appointment only, and the property is offered with no HOA.
For tenants or buyers, the unit mix supports flexible living and leasing setups, including the option to occupy one unit while renting the others. The presence of central HVAC and in-unit washer/dryer connections can help streamline day-to-day comfort and resident usability. Overall, it’s a straightforward triplex designed for rental occupancy in a commute-friendly part of the city.
Located in Houston’s Near Northside area, the property sits on a 5,866 sq. ft. lot and provides convenient access to major employment and entertainment corridors. Commuting options are supported by nearby routes including I-45 and 610, with Downtown Houston and Hardy Yards within reach. Showings are available by appointment only, and the property is offered with no HOA.
For tenants or buyers, the unit mix supports flexible living and leasing setups, including the option to occupy one unit while renting the others. The presence of central HVAC and in-unit washer/dryer connections can help streamline day-to-day comfort and resident usability. Overall, it’s a straightforward triplex designed for rental occupancy in a commute-friendly part of the city.
Key Highlights
- Triplex built in 1939 with three income‑producing rental units
- Unit mix: one 2‑bed/1‑bath unit and two 1‑bed/1‑bath units
- Wood, tile, and vinyl plank flooring plus central HVAC
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
$25,410
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
7.94%
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%
$508,200
$508.2K
Cap Rate 7%
$363,000
$363.0K
Cap Rate 9%
$282,333
$282.3K
Market Conditions
NOI Build-Up for 1,940 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
$38.4K $19.80/SF
− Vacancy
−$2.1K −$1.09/SF
EGI
$36.3K $18.71/SF
− OpEx
−$10.9K −$5.61/SF
NOI
$25.4K $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%
$508,200
Cap Rate 7%
$363,000
Cap Rate 9%
$282,333
Alternative Uses
Best Use
Multifamily LT 5
$363.0K
$317.6K – $423.5K
NOI $25,410 @ 7.0% cap · market cap 7.94%
Second Best
Apartment 5plus
$314.0K
$274.7K – $366.3K
NOI $21,979 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$498.9K
$436.5K – $582.0K
NOI $34,920 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
660
Businesses Nearby
Explore this area
Business Placement
Demographics for 77022, TX
28,748
Population
10,717
Households
2.7
Avg Household Size
35
Median Age
13%
College-Educated
63%
High-School Grad
5.8 sq mi
ZIP Area
4,957
Density / Sq Mi
$48,386
Median Household Income
$28,877
Median Earnings
$1,047
Median Rent
$197,200
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?
Triplex - Well-configured triplex with three rental units, wood and tile finishes, and washer/dryer connections in Near Northside.
Where is this triplex located?
The property is located at 6712 Fulton Street Houston, TX.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: Triplex built in 1939 with three income‑producing rental units; Unit mix: one 2‑bed/1‑bath unit and two 1‑bed/1‑bath units; Wood, tile, and vinyl plank flooring plus central HVAC
