3-Unit Triplex with Newer
New
For Sale
$365,000
7414 Canal St, Houston, TX 77011
The front two residences have updated kitchens, bathrooms, and flooring.
Property Size1,944 SF
Days on Market3
Property Features for 7414 Canal St
General Information
Standard status
Active
Size
1,944 SF
Property subtype
Investment
Site & Location
Neighborhood
Magnolia Park
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$10,408
Building Details
Building Size
1,944 SF
Year Built
1930
Stories
2
Units
2
Listing Agency:
Tejas Realty Group
Listed By:
Alex Eureste · License #0620858
(281) 839-4467
Source:
Elliman
Added: Oct 23
Changed: Oct 25
Last Checked: Oct 24 at 4:52PM
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 Tejas Realty Group
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Investment Insights
Based on property information with market context.
This Houston triplex contains three separate residences. The third unit was completed in 2024, while the front two have refreshed kitchens, bathrooms, and flooring. The property’s recorded year built is 1930.
Key Highlights
- Three separate residential units
- Third unit completed in 2024
- Front two units have updated kitchens, bathrooms, and flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,462
Cap Rate
6.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$509,240
$509.2K
Cap Rate 7%
$363,743
$363.7K
Cap Rate 9%
$282,911
$282.9K
Market Conditions
NOI Build-Up for 1,944 SF
Gross rent
$38.5K $19.80/SF
− Vacancy
−$2.1K −$1.09/SF
EGI
$36.4K $18.71/SF
− OpEx
−$10.9K −$5.61/SF
NOI
$25.5K $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%
$509,240
Cap Rate 7%
$363,743
Cap Rate 9%
$282,911
Alternative Uses
Best Use
Multifamily LT 5
$363.7K
$318.3K – $424.4K
NOI $25,462 @ 7.0% cap · market cap 6.98%
Second Best
Apartment 5plus
$314.6K
$275.3K – $367.1K
NOI $22,024 @ 7.0% cap · market cap 6.03%
Theoretical Best
Office A
$499.9K
$437.4K – $583.2K
NOI $34,992 @ 7.0% cap · market cap 9.59%
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
895
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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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - The front two residences have updated kitchens, bathrooms, and flooring.
Where is this triplex located?
The property is located at 7414 Canal St Houston, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Three separate residential units; Third unit completed in 2024; Front two units have updated kitchens, bathrooms, and flooring
