Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    1403 Maryland St Houston, TX 77006

    Property Lookup

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

    1403 Maryland St Houston, TX 77006

    View on Map
    • Residential income homes
    • 3,110 SF
    Off-Market
    Property ID
    US82-2214175
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Residential income homes

    Property Details for 1403 Maryland St

    Year built
    1938
    Property size
    3,110 SF
    Property type
    Residential income homes

    Description

    This exceptional investment opportunity presents a three-unit multifamily property located at 1403 Maryland Street in Houston, Texas's desirable Montrose neighborhood, within the charming Hyde Park subdivision. The property, built in 1938 and boasting 3,110 square feet, sits on a lot that could be combined with the adjacent 1405 Maryland Street for a total of 10,000 square feet. Currently operating at 100% occupancy, this asset offers a compelling return with staggered lease expirations and a history of low vacancy (less than 2 months over 10 years) and high tenant renewal rates (exceeding 90%). The property has undergone significant renovations in 2015, 2023, and 2024, reflecting the owner's commitment to meticulous maintenance and premium finishes. Upgrades include retrofits, upgraded fixtures, and pristine landscaping. The owner has actively managed operating expenses, including annual tax protests, resulting in cost savings passed on to tenants. This property is well-positioned to benefit from future rent growth and is offered at $1,100,000 ($366,667 per unit and $353.70 per square foot). The City of Houston is scheduled to repave Maryland Street and install a new water main in 2024 and 2025, further enhancing the property's value. Serious inquiries only.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Houston
    County
    Harris
    State
    Texas
    Longitude
    -95.395808
    Latitude
    29.7482466

    Comparable in this City

    • Contact for pricing
      9,240 SF

      Montrose Area Boutique Apartment Building

      Remodeled 16-unit apartment building with dipping pool and dog park.
      2703 Mason St, Houston, TX 77006
      View Details
    • $1,599,000
      Pending

      Montrose Multifamily Investment Opportunity

      Three buildings with nine units in Houston's vibrant Montrose area.
      918 Peden St, Houston, TX 77006
      View Details
    • $1,849,000

      Museum District Townhome Complex

      Remodeled townhomes near Hermann Park, Rice University, and Medical Center.
      1111 Autrey St, Houston, TX 77006
      View Details

    Similar Nearby for Sale

    • $1,635,400

      Montrose Redevelopment Opportunity

      Redevelopment opportunity in Houston's dynamic Montrose submarket.
      1658 W Main St, Houston, TX 77006
      View Details
    • Contact for pricing

      Montrose Mixed-Use Property For Sale

      Mixed-use property with short-term rentals, long-term tenants, and restaurant.
      601-602 Fairview Ave, Houston, TX 77006
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Midtown Office and Retail Space

      Contemporary office and retail space in Midtown Houston available for lease.
      3310 Travis St, Houston, TX 77006
      View Details
    • $15 SF/Yr
      1,700 SF

      Office Space Available For Rent

      1700 square feet of office space for lease.
      6300 Richmond Ave, Houston, TX 77006
      View Details
    • Contact for pricing
      4,614 SF

      Office Space for Lease

      Office space available for lease featuring on-site management.
      6363 Richmond Ave, Houston, TX 77006
      View Details
    • $21 SF/Yr
      4,474 SF

      Richmond Avenue Retail Opportunity

      Retail property with 31,241 square feet of space available.
      5959 Richmond Ave, Houston, TX 77006
      View Details
    • Contact for pricing
      26,100 SF

      Montrose Retail Space Available

      Retail space in the heart of Montrose with patio opportunities.
      1001 Westheimer Rd, Houston, TX 77006
      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.
    1403 Maryland St
    Houston, TX 77006
    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

    Thank You for Inquiry

    1403 Maryland St, Houston, TX, 77006

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!