Updated Condo with Golf Course
For Sale
$155,000
8435 Sands Point Dr, Houston, TX 77036
Remodeled 2 bed, 2 bath condo with golf course view.
Property Size1,103 SF
Lot Size2.23 Acres
Days on Market270
Property Features for 8435 Sands Point Dr
General Information
Standard status
Active
Size
1,103 SF
Lot size
2.23 Acres
Property subtype
Other
Taxes and HOA fees
Annual Taxes
$2,296
Building Details
Building Size
1,103 SF
Year Built
1980
Stories
1
Listing Agency:
FOREVER REALTY, LLC
(713) 299-4773
Listed By:
Xue Yang
(713) 299-4773
Source:
Elliman
Added: Nov 27, 2025
Changed: Aug 13
Last Checked: Aug 24 at 8:25AM
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 FOREVER REALTY, LLC
Investment Insights
Based on property information with market context.
This is an investment property with tenants currently occupying the premises until November 2025. The property is a remodeled, light-filled 2-bedroom, 2-bathroom condo. Located upstairs, it offers views of a golf course from the living room and balcony. The Homeowner Association (HOA) includes water, sewer, trash, basic cable, exterior insurance, courtesy patrol, and grounds maintenance.
Key Highlights
- Golf course view from the living room and balcony.
- Remodeled and well‑maintained 2 bedroom, 2 bathroom condo.
- Tenant occupied until Nov 2025, presenting an investment opportunity.
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
$12,496
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
8.06%
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%
$249,920
$249.9K
Cap Rate 7%
$178,514
$178.5K
Cap Rate 9%
$138,844
$138.8K
Market Conditions
NOI Build-Up for 1,103 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
$24.2K $21.96/SF
− Vacancy
−$1.5K −$1.36/SF
EGI
$22.7K $20.60/SF
− OpEx
−$10.2K −$9.27/SF
NOI
$12.5K $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%
$249,920
Cap Rate 7%
$178,514
Cap Rate 9%
$138,844
Alternative Uses
Best Use
Apartment 5plus
$178.5K
$156.2K – $208.3K
NOI $12,496 @ 7.0% cap · market cap 8.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$283.6K
$248.2K – $330.9K
NOI $19,854 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,296
Businesses Nearby
Explore this area
Business Placement
Demographics for 77036, TX
75,870
Population
30,508
Households
2.5
Avg Household Size
33
Median Age
14%
College-Educated
55%
High-School Grad
7.3 sq mi
ZIP Area
10,393
Density / Sq Mi
$43,853
Median Household Income
$27,812
Median Earnings
$995
Median Rent
$217,400
Median Home Value
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?
Apartment building - Remodeled 2 bed, 2 bath condo with golf course view.
Where is this apartment building located?
The property is located at 8435 Sands Point Dr Houston, TX.
What is the asking price?
The asking price for this property is $155,000.
What are key features of this property?
This property features: Golf course view from the living room and balcony.; Remodeled and well‑maintained 2 bedroom, 2 bathroom condo.; Tenant occupied until Nov 2025, presenting an investment opportunity.
