Renovated Triplex with Updated
For Sale
$375,000
7006 Sherman St, Houston, TX 77011
Three-unit multifamily property with refreshed kitchens, bedrooms, bathrooms, and exterior improvements.
Property Size1,479 SF
Price / SF$253.55
Days on Market50
Property Features for 7006 Sherman St
General Information
Standard status
Active
Size
1,479 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1938
Listing Agency:
Keller Williams Signature
Listed By:
Jonathan Chavez · License #0748730
(281) 739-9816
Source:
Thepikoffteam
Added: Aug 26
Changed: Oct 4
Last Checked: Oct 7 at 3:11PM
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 Keller Williams Signature
Investment Insights
Based on property information with market context.
This three-unit multifamily property, originally built in 1938, has undergone renovations across its interiors and exterior. Each residence includes updated kitchen finishes, refreshed bedrooms and bathrooms, and abundant natural light. Exterior improvements provide a refreshed appearance while preserving the property’s triplex configuration.
The property is located in Houston’s East End, with access to Downtown, the University of Houston, Texas Southern University, Midtown, Emancipation Park, and EaDo. Its unit-by-unit layout supports both investor ownership and owner-occupancy, as stated in the property information.
The property is located in Houston’s East End, with access to Downtown, the University of Houston, Texas Southern University, Midtown, Emancipation Park, and EaDo. Its unit-by-unit layout supports both investor ownership and owner-occupancy, as stated in the property information.
Key Highlights
- Three‑unit triplex configuration
- Renovated interiors with updated kitchen finishes
- Refreshed bedrooms and bathrooms in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,371
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$387,420
$387.4K
Cap Rate 7%
$276,729
$276.7K
Cap Rate 9%
$215,233
$215.2K
Market Conditions
NOI Build-Up for 1,479 SF
Gross rent
$29.3K $19.80/SF
− Vacancy
−$1.6K −$1.09/SF
EGI
$27.7K $18.71/SF
− OpEx
−$8.3K −$5.61/SF
NOI
$19.4K $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 Rate 5%
$387,420
Cap Rate 7%
$276,729
Cap Rate 9%
$215,233
Alternative Uses
Best Use
Multifamily LT 5
$276.7K
$242.1K – $322.9K
NOI $19,371 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$239.4K
$209.5K – $279.3K
NOI $16,756 @ 7.0% cap · market cap 4.47%
Theoretical Best
Office A
$380.3K
$332.8K – $443.7K
NOI $26,622 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,137
Businesses Nearby
Explore this area
Business Placement
Demographics for 77011, TX
16,841
Population
7,366
Households
2.3
Avg Household Size
37
Median Age
10%
College-Educated
59%
High-School Grad
3.4 sq mi
ZIP Area
4,953
Density / Sq Mi
$49,163
Median Household Income
$36,517
Median Earnings
$1,063
Median Rent
$187,100
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 - Three-unit multifamily property with refreshed kitchens, bedrooms, bathrooms, and exterior improvements.
Where is this triplex located?
The property is located at 7006 Sherman St Houston, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Three‑unit triplex configuration; Renovated interiors with updated kitchen finishes; Refreshed bedrooms and bathrooms in each unit
