Multifamily Property with Additional
For Sale
$299,500
812 Maltby St Unit 4, Houston, TX 77011
Remodeled units, framed expansion area, and proximity to major Houston destinations support a flexible multifamily configuration.
Property Size2,208 SF
Price / SF$135.64
Days on Market41
Property Features for 812 Maltby St Unit 4
General Information
Standard status
Active
Size
2,208 SF
Property subtype
Multi-Family
Property Condition
Severity
Major Repairs Needed
Evidence
gutted to the studs
Additional Details
Highway Access
Yes
Unit Mix
1 x studio, 2 x 1BR/1BA, 2 x 2BR/1BA, 1 x 4BR/2BA
Building Details
Year Built
1930
Buildings
2
Listing Agency:
Tarantino Properties, Inc.
(713) 826-8309
Listed By:
Meghan Allen Holliday
Source:
Doorstephomegroup
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 29 at 7:10PM
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 Tarantino Properties, Inc.
Investment Insights
Based on property information with market context.
This multifamily property includes front and rear buildings with a combination of remodeled, partially remodeled, and unfinished areas. Remodeled units are ready for leasing, while two additional potential units have already been framed. Certain rear-building units were taken to the studs and include electrical and plumbing, and the upstairs studio requires further completion work. Fresh interior and exterior paint has been completed.
The property is in East Houston, minutes from EaDo, Downtown Houston, the University of Houston, I-45, US-59, and I-10. Built in 1930, the property contains 2,208 SF and offers a multifamily layout with existing improvements and areas for additional completion.
The property is in East Houston, minutes from EaDo, Downtown Houston, the University of Houston, I-45, US-59, and I-10. Built in 1930, the property contains 2,208 SF and offers a multifamily layout with existing improvements and areas for additional completion.
Key Highlights
- 2,208 SF multifamily property built in 1930
- Front‑building units have been remodeled and are ready to lease
- Two additional potential units are already framed
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
$25,015
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
8.35%
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%
$500,300
$500.3K
Cap Rate 7%
$357,357
$357.4K
Cap Rate 9%
$277,944
$277.9K
Market Conditions
NOI Build-Up for 2,208 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
$48.5K $21.96/SF
− Vacancy
−$3.0K −$1.36/SF
EGI
$45.5K $20.60/SF
− OpEx
−$20.5K −$9.27/SF
NOI
$25.0K $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%
$500,300
Cap Rate 7%
$357,357
Cap Rate 9%
$277,944
Alternative Uses
Best Use
Multifamily LT 5
$413.1K
$361.5K – $482.0K
NOI $28,920 @ 7.0% cap · market cap 9.66%
Second Best
Apartment 5plus
$357.4K
$312.7K – $416.9K
NOI $25,015 @ 7.0% cap · market cap 8.35%
Theoretical Best
Office A
$567.8K
$496.8K – $662.4K
NOI $39,744 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,065
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Remodeled units, framed expansion area, and proximity to major Houston destinations support a flexible multifamily configuration.
Where is this multifamily property located?
The property is located at 812 Maltby St Unit 4 Houston, TX.
What is the asking price?
The asking price for this property is $299,500.
What are key features of this property?
This property features: 2,208 SF multifamily property built in 1930; Front‑building units have been remodeled and are ready to lease; Two additional potential units are already framed
