Courtyard Apartment
For Sale
$1,200,000
Pending
7432-7444 Tremper St, Houston, TX 77020
Each unit provides three bedrooms, three full baths, dedicated parking, and access to a gated courtyard.
Property Size6,320 SF
Days on Market13
Property Features for 7432-7444 Tremper St
General Information
Standard status
Pending
Size
6,320 SF
Property subtype
Investment
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$738
Amenities
courtyard access
gated entry
dedicated parking spots
Building Details
Building Size
6,320 SF
Year Built
2026
Stories
2
Units
4
Listing Agency:
HAPPEN HOUSTON
(281) 203-4802
Listed By:
Gustavo A Miquilarena
(281) 203-4802
Source:
Elliman
Added: Aug 12
Changed: Aug 23
Last Checked: Aug 24 at 7:27AM
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 HAPPEN HOUSTON
Investment Insights
Based on property information with market context.
Tremper Court is a multifamily property comprising units with three bedrooms and three full bathrooms each. Residential interiors are designed around natural light and include a flexible primary loft space. Residents have access to a shared courtyard, gated entry, and an assigned parking space for each unit.
Located in Houston at 7432-7444 Tremper St, the property is minutes from Downtown Houston. Walk Score is 79, Bike Score is 78, and Transit Score is 50, reflecting walkable, bike-friendly, and transit-served surroundings. Construction is identified with a 2026 year built.
Located in Houston at 7432-7444 Tremper St, the property is minutes from Downtown Houston. Walk Score is 79, Bike Score is 78, and Transit Score is 50, reflecting walkable, bike-friendly, and transit-served surroundings. Construction is identified with a 2026 year built.
Key Highlights
- Three bedrooms and three full baths per unit
- Primary loft space included in each floor plan
- Shared courtyard with gated entry
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
$71,600
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
5.97%
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%
$1,432,000
$1.4M
Cap Rate 7%
$1,022,857
$1.0M
Cap Rate 9%
$795,556
$795.6K
Market Conditions
NOI Build-Up for 6,320 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
$138.8K $21.96/SF
− Vacancy
−$8.6K −$1.36/SF
EGI
$130.2K $20.60/SF
− OpEx
−$58.6K −$9.27/SF
NOI
$71.6K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$1,432,000
Cap Rate 7%
$1,022,857
Cap Rate 9%
$795,556
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$895.0K – $1.19M
NOI $71,600 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,760 @ 7.0% cap · market cap 9.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 77020, TX
24,846
Population
10,054
Households
2.5
Avg Household Size
35
Median Age
13%
College-Educated
65%
High-School Grad
7.8 sq mi
ZIP Area
3,185
Density / Sq Mi
$49,481
Median Household Income
$32,573
Median Earnings
$942
Median Rent
$133,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Each unit provides three bedrooms, three full baths, dedicated parking, and access to a gated courtyard.
Where is this apartment building located?
The property is located at 7432-7444 Tremper St Houston, TX.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Three bedrooms and three full baths per unit; Primary loft space included in each floor plan; Shared courtyard with gated entry
