Corner-Lot
New
For Sale
$425,000
8219 Corinth Street, Houston, TX 77051
Fully occupied income property with two-bedroom, one-bath residences near major Houston employment and education centers.
Property Size3,000 SF
Price / SF$141.67
Days on Market6
Property Features for 8219 Corinth Street
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,807
Amenities
Yes
1
2
Appraiser
Corner Lot
5200
3000
Building Details
Building Size
3,000 SF
Year Built
1965
Stories
2
Listing Agency:
Baradhi Real Estate
(713) 461-6800
Listed By:
Trisha Fletcher
(281) 813-2469
Source:
Garygreene
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 21 at 4:45AM
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 Baradhi Real Estate
Investment Insights
Based on property information with market context.
This 3,000 SF quadplex, built in 1965, contains four fully occupied residences. Each unit offers a functional two-bedroom, one-bath layout of approximately 750 SF, creating a straightforward configuration for multifamily ownership. The property sits on a corner lot at 8219 Corinth Street.
The Houston location places the property near the University of Houston, Texas Southern University, the Texas Medical Center, Downtown Houston, and NRG Stadium. It is positioned within the 77011 corridor identified in the property information as undergoing development and investment activity.
The Houston location places the property near the University of Houston, Texas Southern University, the Texas Medical Center, Downtown Houston, and NRG Stadium. It is positioned within the 77011 corridor identified in the property information as undergoing development and investment activity.
Key Highlights
- Four‑unit multifamily property with all units fully occupied
- Each residence has a two‑bedroom, one‑bath layout of approximately 750 SF
- 3,000 SF property built in 1965
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
$33,987
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
8.00%
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%
$679,740
$679.7K
Cap Rate 7%
$485,529
$485.5K
Cap Rate 9%
$377,633
$377.6K
Market Conditions
NOI Build-Up for 3,000 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
$65.9K $21.96/SF
− Vacancy
−$4.1K −$1.36/SF
EGI
$61.8K $20.60/SF
− OpEx
−$27.8K −$9.27/SF
NOI
$34.0K $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%
$679,740
Cap Rate 7%
$485,529
Cap Rate 9%
$377,633
Alternative Uses
Best Use
Multifamily LT 5
$561.3K
$491.2K – $654.9K
NOI $39,293 @ 7.0% cap · market cap 9.25%
Second Best
Apartment 5plus
$485.5K
$424.8K – $566.5K
NOI $33,987 @ 7.0% cap · market cap 8.00%
Theoretical Best
Office A
$771.4K
$675.0K – $900.0K
NOI $54,000 @ 7.0% cap · market cap 12.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
297
Businesses Nearby
Explore this area
Business Placement
Demographics for 77051, TX
18,323
Population
7,453
Households
2.5
Avg Household Size
34
Median Age
15%
College-Educated
78%
High-School Grad
7.4 sq mi
ZIP Area
2,476
Density / Sq Mi
$40,030
Median Household Income
$31,914
Median Earnings
$1,332
Median Rent
$171,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied income property with two-bedroom, one-bath residences near major Houston employment and education centers.
Where is this quadplex located?
The property is located at 8219 Corinth Street Houston, TX.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Four‑unit multifamily property with all units fully occupied; Each residence has a two‑bedroom, one‑bath layout of approximately 750 SF; 3,000 SF property built in 1965
