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Owner Contacts

$251,000

NAL Estimated Property Value

3321 Memel Street, Houston, TX, 77026

$259,650 ARV

Off Market

9 Beds

5 Bath

2,395 Sq Ft

Single Family Residence

$91.86 / sqft

Built in 1958

Property Lead Type:

Absentee OwnerHigh Equity

Highlights

Interior

Bedrooms 9

Bathrooms Full 1

Heating

AppliancesGas Oven, Gas Range

Exterior

Lot Size9,060 sqft

Building Information

Year Built1958

Land Information

APN0701070120055

Lot Number55

SubdivisionCrane Street Woods

Land UseResidential

Legal DescriptionLT 55 BLK 3 CRANE STREET WOODS SEC 5

Census Tract210900

Assessed Land Value$59,616

Assessed Improvement Value$132,088

Assessment Year2025

About this property

Welcome to Memel Street Fourplex! Great opportunity as investment fourplex for investor/handyman or rehab project for buyer(s) looking to bring it to tip-top shape. Four separate units with potential for income-generation from all four units after remodel. The first and second units (blue houses) are livable and are currently being rented to tenants (month-to-month); need some TLC and updating. The third and fourth units (beige houses) need complete rehab/remodel. First unit is a 2 bed/1.5 bath with 600 sq ft. The second unit is 3 bed/2 bath with 975 sq ft. The third and fourth units are each 680 sq ft and floor plans for rehab are flexible to suit your needs/wants. Prime location only minutes from Downtown, Midtown, EADO, and the Heights. Easy access to major highways. Ample parking in gravel driveway on property. Take this "blank canvas" and make it your own adding your personal touches and updates. Don't wait... Give us a call... this gem is ready to be yours!

Investor Tools

$251,000

Estimated Property Value

$177,050Estimated Mortgage Balance

$73,950Estimated Equity

29% equity

Estimated Cap Rate

View Rate

Estimated ARV (After-Repair Value)

$259,649

Rent-to-Value Ratio: 0.72%

Rent Estimate

$1,506 /month

Positive

Cash Flow Estimate:

$502 /month

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Financing Details

Estimated Taxes & Insurance

HOA Fees

Interest Rate Assumption

$435/month

No HOA

5.947%

Tax Information

Annual Taxes

Assessed Value

Assessment Year

Assessed Land

Assessed Improvement

Market Value

Tax Delinquent

$3,959

$191,704

2025

$59,616

$132,088

$191,704

Tax History

Year

Tax Paid

Assessed Value

2024

$3,959

$191,704

Mortgage Details

Lender

Loan Type

Loan Amount

Assumable

Position

Origination Date

Maturity Date

Contessa Capital Llc

Building Or Construction Loan

$190,000

First

Sep 9, 2022

Oct 2023

Equity Summary

Est. Mortgage Balance

Est. Equity

Equity %

LTV

Est. Monthly Payment

$177,050

$73,950

29%

71%

$1,140/mo

Rental Potential

Est. Monthly Rent

Est. Monthly Expenses

Est. Cash Flow

Gross Yield

$1,307/mo

$1,140/mo

+$167/mo

6.2%

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