Multi-Unit Residential Income
For Sale
$425,000
8341 Detroit Street, Houston, TX 77017
Three distinct homes on one lot generate rental income from month-to-month tenants.
Property Size1,639 SF
Price / SF$259.30
Days on Market99
Property Features for 8341 Detroit Street
General Information
Standard status
Active
Size
1,639 SF
Property subtype
Income
Net Operating Income
$26,912
Site & Location
Neighborhood
Park Place
Taxes and HOA fees
Annual Taxes
$6,229
Amenities
Yes
5
8
Appraiser
25593
1639
Building Details
Building Size
1,639 SF
Year Built
1937
Stories
1
Listing Agency:
Anne Vickery & Associates Realty, LLC
(281) 444-5140
Listed By:
Brenda Roberson
(713) 201-6690
Source:
Garygreene
Added: Jul 20
Changed: Oct 25
Last Checked: Oct 24 at 2:41PM
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 Anne Vickery & Associates Realty, LLC
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Investment Insights
Based on property information with market context.
This multi-unit residential property includes three separate dwellings on one lot: a 3-bedroom, 2-bath main house, a 2-bedroom, 1.5-bath manufactured home remodeled in 2021, and a 2-bedroom rear apartment. The configuration provides separate living spaces within a single property footprint.
The property is described as being conveniently located near major Houston thoroughfares, shopping, schools, and community parks. Bike, walk, and transit scores are also provided, indicating a more car-dependent area.
As currently configured, the property is generating $4,100 per month across month-to-month tenants.
The property is described as being conveniently located near major Houston thoroughfares, shopping, schools, and community parks. Bike, walk, and transit scores are also provided, indicating a more car-dependent area.
As currently configured, the property is generating $4,100 per month across month-to-month tenants.
Key Highlights
- Three distinct homes on one lot: 3/2 main house, 2/1.5 remodeled manufactured home, and a 2/1 rear apartment
- Approx. 1,639 SF main house (3/2) built in 1937
- Manufactured home remodeled in 2021 with approx. 924 SF (2/1.5)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,467
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$429,340
$429.3K
Cap Rate 7%
$306,671
$306.7K
Cap Rate 9%
$238,522
$238.5K
Market Conditions
NOI Build-Up for 1,639 SF
Gross rent
$32.5K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.7K $18.71/SF
− OpEx
−$9.2K −$5.61/SF
NOI
$21.5K $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%
$429,340
Cap Rate 7%
$306,671
Cap Rate 9%
$238,522
Alternative Uses
Best Use
Multifamily LT 5
$306.7K
$268.3K – $357.8K
NOI $21,467 @ 7.0% cap · market cap 5.05%
Second Best
Apartment 5plus
$265.3K
$232.1K – $309.5K
NOI $18,568 @ 7.0% cap · market cap 4.37%
Theoretical Best
Office A
$421.5K
$368.8K – $491.7K
NOI $29,502 @ 7.0% cap · market cap 6.94%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
473
Businesses Nearby
Explore this area
Business Placement
Demographics for 77017, TX
31,659
Population
11,281
Households
2.8
Avg Household Size
34
Median Age
10%
College-Educated
59%
High-School Grad
9.6 sq mi
ZIP Area
3,298
Density / Sq Mi
$53,750
Median Household Income
$32,771
Median Earnings
$1,049
Median Rent
$146,600
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
Frequently Asked Questions
What type of property is this?
Triplex - Three distinct homes on one lot generate rental income from month-to-month tenants.
Where is this triplex located?
The property is located at 8341 Detroit 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: Three distinct homes on one lot: 3/2 main house, 2/1.5 remodeled manufactured home, and a 2/1 rear apartment; Approx. 1,639 SF main house (3/2) built in 1937; Manufactured home remodeled in 2021 with approx. 924 SF (2/1.5)
