Four-Unit Apartment
7301 Sherman Street, Houston, TX 77011
For Sale
$543,000
Four one-bedroom, one-bathroom units have separately metered electric and gas service.
Property Size2,200 SF
Price / SF$246.82
Days on Market119
Property Features for 7301 Sherman Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Keller Williams Realty Metropolitan
Listed By:
Otto Muniz · License TX #766823
(713) 614-5888
Source:
Bethwolff
Added: Jul 14
Changed: Nov 7
Last Checked: Nov 9 at 4:11PM
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 Realty Metropolitan
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Investment Insights
Based on property information with market context.
This 1930-built fourplex contains 2,220 square feet across four units, each configured with one bedroom and one bathroom. Electric and gas service are separately metered, and surface parking serves the property. City garbage collection is provided.
The property is in Houston’s East End, minutes from the East River Project, EADO, Downtown, the University of Houston, and the Texas Medical Center. New residential and commercial development is underway in the immediate area.
The property is in Houston’s East End, minutes from the East River Project, EADO, Downtown, the University of Houston, and the Texas Medical Center. New residential and commercial development is underway in the immediate area.
Key Highlights
- Four units, each with a one‑bedroom, one‑bathroom layout
- 2,220 square feet in a building constructed in 1930
- Electric and gas are separately metered
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,815
Cap Rate
5.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$576,300
$576.3K
Cap Rate 7%
$411,643
$411.6K
Cap Rate 9%
$320,167
$320.2K
Market Conditions
NOI Build-Up for 2,200 SF
Gross rent
$43.6K $19.80/SF
− Vacancy
−$2.4K −$1.09/SF
EGI
$41.2K $18.71/SF
− OpEx
−$12.3K −$5.61/SF
NOI
$28.8K $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%
$576,300
Cap Rate 7%
$411,643
Cap Rate 9%
$320,167
Alternative Uses
Best Use
Multifamily LT 5
$411.6K
$360.2K – $480.3K
NOI $28,815 @ 7.0% cap · market cap 5.31%
Second Best
Apartment 5plus
$356.1K
$311.6K – $415.4K
NOI $24,924 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$565.7K
$495.0K – $660.0K
NOI $39,600 @ 7.0% cap · market cap 7.29%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
832
Businesses Nearby
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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
$187,100
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Houston, TX
Properties on Market for Quadplexes in Houston
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four one-bedroom, one-bathroom units have separately metered electric and gas service.
Where is this quadplex located?
The property is located at 7301 Sherman Street Houston, TX.
What is the asking price?
The asking price for this property is $543,000.
What are key features of this property?
This property features: Four units, each with a one‑bedroom, one‑bathroom layout; 2,220 square feet in a building constructed in 1930; Electric and gas are separately metered
