Three-Home
For Sale
$1,030,000
A-c-1928 Gregg St, Houston, TX 77020
Three detached residences each provide private outdoor space, a garage, and bedrooms with en-suite baths.
Property Size6,208 SF
Price / SF$165.91
Days on Market17
Property Features for A-c-1928 Gregg St
General Information
Standard status
Active
Size
6,208 SF
Property subtype
Residential Income
Units
Unit Mix
3 x 3BR/3.5BA
Multifamily Units
3
Amenities
fenced yard
patio
balconies
Building Details
Buildings
3
Listing Agency:
Nextgen Real Estate Properties
(346) 888-2525
Listed By:
Norisha Johnson
(346) 304-1590
Source:
Exprealty
Added: Sep 30
Changed: Oct 15
Last Checked: Oct 15 at 2:08AM
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 Nextgen Real Estate Properties
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This triplex comprises three separate homes on a corner lot, with a combined property size of 6,208 square feet. Each residence includes three bedrooms, three and a half baths, a garage, a private driveway, and a fenced yard. Every bedroom has its own bathroom, and the homes have no shared walls. The interiors include a first-floor guest suite and patio, along with an open upper-level living area and balconies.
The property is on Gregg Street in Houston, minutes from Downtown and East River. The homes have never been occupied.
The property is on Gregg Street in Houston, minutes from Downtown and East River. The homes have never been occupied.
Key Highlights
- Three detached homes on a corner lot
- 6,208 square feet of property size
- Each home has 3 bedrooms, 3.5 baths, a garage, private drive, and fenced yard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,311
Cap Rate
7.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,626,220
$1.6M
Cap Rate 7%
$1,161,586
$1.2M
Cap Rate 9%
$903,456
$903.5K
Market Conditions
NOI Build-Up for 6,208 SF
Gross rent
$122.9K $19.80/SF
− Vacancy
−$6.8K −$1.09/SF
EGI
$116.2K $18.71/SF
− OpEx
−$34.8K −$5.61/SF
NOI
$81.3K $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%
$1,626,220
Cap Rate 7%
$1,161,586
Cap Rate 9%
$903,456
Alternative Uses
Best Use
Multifamily LT 5
$1.16M
$1.02M – $1.36M
NOI $81,311 @ 7.0% cap · market cap 7.89%
Second Best
Apartment 5plus
$1.00M
$879.1K – $1.17M
NOI $70,331 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,744 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
543
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
Frequently Asked Questions
What type of property is this?
Triplex - Three detached residences each provide private outdoor space, a garage, and bedrooms with en-suite baths.
Where is this triplex located?
The property is located at A-c-1928 Gregg St Houston, TX.
What is the asking price?
The asking price for this property is $1,030,000.
What are key features of this property?
This property features: Three detached homes on a corner lot; 6,208 square feet of property size; Each home has 3 bedrooms, 3.5 baths, a garage, private drive, and fenced yard
