Three-Unit Multifamily
New
For Sale
$299,000
7401 Helmers Street, Houston, TX 77022
A detached duplex accompanies the main residence, creating three separate living spaces on one property.
Property Size1,276 SF
Days on Market4
Property Features for 7401 Helmers Street
General Information
Standard status
Active
Size
1,276 SF
Property subtype
Multi Family,Triplex
Units
Unit Mix
1 x 3BR/1BA, 1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$8,437
Building Details
Building Size
1,276 SF
Year Built
1948
Buildings
2
Listing Agency:
RE/MAX Prestige
Listed By:
Miguel Cruz · License #658659
(832) 646-3960
Source:
Mpowerrealtygroup
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 2:31PM
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
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 = 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
$16,713
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
5.59%
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%
$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
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
$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 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%
$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.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
562
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?
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
