Craftsman-Style Fourplex with Private
For Sale
$899,900
A-d-4031 Cork Dr, Houston, TX 77047
Four-unit residential property with contemporary finishes, open living areas, and private outdoor space.
Property Size5,000 SF
Price / SF$179.98
Days on Market25
Property Features for A-d-4031 Cork Dr
General Information
Standard status
Active
Size
5,000 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$751
Amenities
electric fireplace media wall
private backyards
Listing Agency:
Brooks & Davis Real Estate
(832) 524-4526
Listed By:
Andre Beraud · License #0667248
(832) 524-4526
Source:
Exprealty
Added: Jul 21
Changed: Aug 13
Last Checked: Aug 13 at 6:23AM
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 Brooks & Davis Real Estate
Investment Insights
Based on property information with market context.
This 5,000-square-foot fourplex combines a Craftsman-influenced exterior with contemporary interior detailing. Board-and-batten siding and wood accents define the façade, while wide-plank flooring, tall ceilings, premium cabinetry, and streamlined finishes shape the living areas. Open-plan interiors are anchored by electric fireplace media walls that add a dedicated focal point to each unit.
The property also includes private backyard areas, extending the usable living space outdoors. Unit B features a custom coffee and dry bar. Located on Cork Dr in Houston, the property offers a residential income configuration with a consistent design approach across the building.
The property also includes private backyard areas, extending the usable living space outdoors. Unit B features a custom coffee and dry bar. Located on Cork Dr in Houston, the property offers a residential income configuration with a consistent design approach across the building.
Key Highlights
- Fourplex with 5,000 square feet of property size
- Craftsman‑style exterior with board‑and‑batten siding and wood accents
- Open living areas with wide‑plank flooring and soaring ceilings
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
$65,488
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
7.28%
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%
$1,309,760
$1.3M
Cap Rate 7%
$935,543
$935.5K
Cap Rate 9%
$727,644
$727.6K
Market Conditions
NOI Build-Up for 5,000 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
$99.0K $19.80/SF
− Vacancy
−$5.4K −$1.09/SF
EGI
$93.6K $18.71/SF
− OpEx
−$28.1K −$5.61/SF
NOI
$65.5K $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 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%
$1,309,760
Cap Rate 7%
$935,543
Cap Rate 9%
$727,644
Alternative Uses
Best Use
Multifamily LT 5
$935.5K
$818.6K – $1.09M
NOI $65,488 @ 7.0% cap · market cap 7.28%
Second Best
Apartment 5plus
$809.2K
$708.1K – $944.1K
NOI $56,646 @ 7.0% cap · market cap 6.29%
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,000 @ 7.0% cap · market cap 10.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
155
Businesses Nearby
Explore this area
Business Placement
Demographics for 77047, TX
32,088
Population
13,288
Households
2.4
Avg Household Size
34
Median Age
37%
College-Educated
89%
High-School Grad
13.8 sq mi
ZIP Area
2,325
Density / Sq Mi
$73,947
Median Household Income
$44,732
Median Earnings
$1,719
Median Rent
$224,200
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?
Quadplex - Four-unit residential property with contemporary finishes, open living areas, and private outdoor space.
Where is this quadplex located?
The property is located at A-d-4031 Cork Dr Houston, TX.
What is the asking price?
The asking price for this property is $899,900.
What are key features of this property?
This property features: Fourplex with 5,000 square feet of property size; Craftsman‑style exterior with board‑and‑batten siding and wood accents; Open living areas with wide‑plank flooring and soaring ceilings
