Three-Unit Multifamily
7401 Helmers Street, Houston, TX 77022
For Sale
$299,000
A detached duplex accompanies the main residence, creating three separate living spaces on one property.
Property Size1,276 SF
Days on Market51
Property Features for 7401 Helmers Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Units
Unit Mix
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
RE/MAX Prestige
Listed By:
Miguel Cruz · License TX #658659
(832) 646-3960
Source:
Mpowerrealtygroup
Added: Sep 24
Changed: Nov 13
Last Checked: Nov 12 at 2:28PM
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 RE/MAX Prestige
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Investment Insights
Based on property information with market context.
The property combines a main residence with a separate duplex. The house has three bedrooms and one bathroom; the duplex contains a two-bedroom, one-bath unit and a one-bedroom, one-bath unit. The three dwellings provide distinct living spaces. Built in 1948, the main house received updates in 2010 to its electrical and plumbing systems, lighting, and tile flooring.
Key Highlights
- Three separate residences: a 3‑bedroom, 1‑bath main house and a detached duplex
- Duplex includes a 2‑bedroom, 1‑bath unit and a 1‑bedroom, 1‑bath unit
- Main house built in 1948; updates to electrical, plumbing, lighting, and tile flooring completed in 2010
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,713
Cap Rate
5.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$334,260
$334.3K
Cap Rate 7%
$238,757
$238.8K
Cap Rate 9%
$185,700
$185.7K
Market Conditions
NOI Build-Up for 1,276 SF
Gross rent
$25.3K $19.80/SF
− Vacancy
−$1.4K −$1.09/SF
EGI
$23.9K $18.71/SF
− OpEx
−$7.2K −$5.61/SF
NOI
$16.7K $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%
$334,260
Cap Rate 7%
$238,757
Cap Rate 9%
$185,700
Alternative Uses
Best Use
Multifamily LT 5
$238.8K
$208.9K – $278.6K
NOI $16,713 @ 7.0% cap · market cap 5.59%
Second Best
Apartment 5plus
$206.5K
$180.7K – $240.9K
NOI $14,456 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$328.1K
$287.1K – $382.8K
NOI $22,968 @ 7.0% cap · market cap 7.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
562
Businesses Nearby
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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
$197,200
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Houston, TX
Properties on Market for Multifamily properties in Houston
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - A detached duplex accompanies the main residence, creating three separate living spaces on one property.
Where is this multifamily property located?
The property is located at 7401 Helmers Street Houston, TX.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Three separate residences: a 3‑bedroom, 1‑bath main house and a detached duplex; Duplex includes a 2‑bedroom, 1‑bath unit and a 1‑bedroom, 1‑bath unit; Main house built in 1948; updates to electrical, plumbing, lighting, and tile flooring completed in 2010
