Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    6740 Peerless St Houston, TX 77021

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    6740 Peerless St Houston, TX 77021

    View on Map
    • Residential income homes
    • 13,068 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 6740 Peerless St

    Year built
    2024
    Property size
    13,068 SF
    Property type
    Residential income homes

    Description

    This exceptional seven-unit, Class A single-family rental portfolio in Houston, Texas, presents a compelling investment opportunity. Built and renovated in 2024, this stabilized portfolio boasts 13,068 square feet across seven three-story buildings, each with 1,277 square feet of net rentable space. The property sits on a 13,068 square foot lot in the desirable 77021 zip code, minutes from the Medical Center, Downtown, and major universities. Six of the seven units are currently leased, reflecting a remarkably low vacancy rate in a rapidly growing area with over 257 homes under development within a quarter-mile radius. An independent appraisal values a comparable unit at $429,000. The portfolio benefits from its proximity to the new 52-acre Levit Green development and the upcoming TMC3 Medical Center expansion, promising significant long-term growth potential. Each unit features modern finishes including engineered hardwood floors, quartz countertops, stainless steel appliances, and shaker cabinets. Primary bedrooms include expansive walk-in closets and luxurious bathrooms. Private driveways and generous backyards add to the appeal. This portfolio offers immediate cash flow with no immediate capital expenditures needed, and the potential for short-term rentals. The 6.15% cap rate makes this a strong investment for both short-term and long-term rental strategies. The permitted zoning is residential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.3717
    Latitude
    29.6991

    Comparable in this City

    • Value Estimation by Request
      3,840 SF

      5105 Griggs Rd

      BOARDING/ROOMING HOUSE • 3,840 SF
      5105 Griggs Rd, Houston, TX 77021-3211
      View Details
    • Value Estimation by Request
      2,808 SF

      6618 London St, Unit 8

      BOARDING/ROOMING HOUSE • 2,808 SF
      6618 London St, Houston, TX 77021-4251
      View Details
    • Value Estimation by Request
      2,808 SF

      6622 London St, Unit 4

      BOARDING/ROOMING HOUSE • 2,808 SF
      6622 London St, Houston, TX 77021-4259
      View Details
    • Value Estimation by Request
      2,808 SF

      6614 London St, Unit 8

      BOARDING/ROOMING HOUSE • 2,808 SF
      6614 London St, Houston, TX 77021-4200
      View Details
    • Value Estimation by Request

      3571 Noah St

      Multifamily properties
      3571 Noah St, Houston, TX 77021
      View Details
    • Value Estimation
      $3,685,000
      35,428 SF

      6301 Almeda Rd, Unit 320

      HIGH-RISE APARTMENTS • 35,428 SF
      6301 Almeda Rd, Houston, TX 77021-1059
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Renovated Retail Center For Lease

      Recently renovated neighborhood center with high traffic intersection location.
      6102 Scott St, Houston, TX 77021
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space on Old Spanish Trail

      Retail space available for lease on Old Spanish Trail.
      3922 Old Spanish Trl, Houston, TX 77021
      View Details
    • Contact for pricing
      416 SF

      Office Space For Rent

      Office space available for lease in Houston, TX.
      2600 South Loop West, Houston, TX 77021
      View Details
    • Contact for pricing

      Highway Frontage Suites Available

      Suites available for lease with highway frontage and access.
      7505 South Fwy, Houston, TX 77021
      View Details
    • Contact for pricing
      1,921 SF

      Medical/Professional Office Space Available

      1,921 SF office space with signage and ample parking.
      5751 Blythewood St, Houston, TX 77021
      View Details
    • Contact for pricing

      Houston Auto Sales Space Available

      Lease space at Houston Auto Sales on Cullen BLVD.
      6522 Cullen Blvd, Houston, TX 77021
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    6740 Peerless St
    Houston, TX 77021
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!