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$315,000

Sold
3229 Holman St Unit 4, Houston, TX 77004
4 Beds
4 Baths
1,550 Square Feet
0.07 Acres Lot
Built in 1938
Sold
4 Units
Checked: 24 hours ago
Updated: Aug 26, 2025 at 10:15AM

Investment Summary


Monthly Cash Flow
-$1,461
Cap Rate
0.1%
Cash-on-Cash Return
-24.2%
Debt Coverage Ratio
0.02
Internal Rate of Return (5 years)
-19.3%

Property Description


0.07 Acres Lot
Built in 1938
Sold
4 Units

This is a rare find for a HIGH value HIGH rent rate 4 plex in 77004 surrounded by new builds. It has already been partially rehabbed, 2 units are almost complete, 2 units need full rehab except PEX plumbing, insulation and windows. This home is just minutes away from Texas Southern University & University of Houston which makes it ideal for student housing! Market rent is $1,000 per month, per unit. Alternatively Fair Market Rent for housing for an efficiency pays $1,200 a month, and for a 1 bedroom pays up to $1,260 a month in 77004! That is a potential of $5,040 monthly or $60,480 yearly in rental income!

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Location


Property Details


Parking

  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 4

Bathroom Information

  • # of Baths (Full): 4
  • # of Baths (Total): 4.0

Interior Features

  • # of Stories: 2

Exterior Features

  • Exterior Walls Materials: Stucco
  • Roof Material: Composition

Land Information

  • Land Use: Residential Income
  • Land Use Subtype: Apartment House (5+ units)

Lot Information

  • Parcel ID: 0530230000009
  • Lot Size: 3202 sqft

Property Information

  • Property Type: Multi Family
  • Year Built: 1938

Tax Information

  • Annual Tax: $4,610

Utilities

  • Heating: Electric
  • Cooling: Electric

Location

  • County: Harris

Listing Details


Listed by:
Joseph Huber
Alchemist Real Estate
(972) 439-6060

Source:
Houston Association of REALTORS
MLS#: 46031987
Houston Association of REALTORS

Investment Summary


Monthly Cash Flow
-$1,461
Cap Rate
0.1%
Cash-on-Cash Return
-24.2%
Debt Coverage Ratio
0.02
Internal Rate of Return (5 years)
-19.3%

Purchase Details

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Purchase price:
$315,000
Amount financed:
-$252,000
Down payment:
$63,000
Closing costs:
$9,450
Rehab costs:
$0
Initial cash invested:
$72,450
Square feet:
1,550
Cost per square foot:
$203
Monthly rent per square foot:
$0.39

Financing Details

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Loan amount:
$252,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,491
Property tax:
$384
Insurance:
$42
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,917

Operating Income

Find a Property Manager

% Rent Monthly Yearly
Gross rent:
$600 $7,200
Vacancy loss: (6%)
6% -$36 -$432
Operating income:
$564 $6,768

Operating Expenses


% Rent Monthly Yearly
Property taxes: (64%)
64%-$384-$4,610
Insurance: (7%)
7%-$42-$504
Property management: (8%)
8%-$48-$576
Repairs & maintenance: (5%)
5%-$30-$360
Capital expenditures: (5%)
5%-$30-$360
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (89%)
89%-$534-$6,410

Cash Flow


Monthly Yearly
Net operating income:
$30 $360
Mortgage payments:
-$1,491 -$17,892
Cash flow:
$1,461 $17,532