Income-Producing
For Sale
$349,999
11328 Palmsprings Drive, Houston, TX 77034
Two-unit duplex with modern finishes and functional floor plans, offered as an income-producing residential property.
Property Size2,658 SF
Price / SF$131.68
Days on Market56
Property Features for 11328 Palmsprings Drive
General Information
Standard status
Active
Size
2,658 SF
Property subtype
Multi-Family
Taxes and HOA fees
Annual Taxes
$10,111
Amenities
Tile,Carpet
Yes
3
4
Washer Hookup,Dryer Hookup
Appraiser
Granite Counters,Ceiling Fan(s)
Other,Subdivision
3600
Paved
2658
Building Details
Building Size
2,658 SF
Year Built
2019
Stories
2
Listing Agency:
Tri-County Realty, LLC
(713) 961-1722
Listed By:
Sinta Fuhrmann
(832) 301-2568
Source:
Garygreene
Added: Jul 23
Changed: Sep 15
Last Checked: Sep 15 at 6:26AM
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 Tri-County Realty, LLC
Investment Insights
Based on property information with market context.
11328 Palmsprings Drive is an income-producing duplex featuring two separate units with light-filled interiors, functional floor plans, and modern finishes. Each unit includes a kitchen with ample cabinet space designed for everyday comfort and tenant appeal.
The property is located in Southeast Houston with convenient access to I-45, Beltway 8, and Almeda Genoa Road. Nearby destinations include Almeda Mall, H-E-B, Beverly Hills Park, and Sagemont Park.
Offered for sale, the duplex is presented as a newer-construction asset intended to support immediate rental potential, combining practical unit design with straightforward access to major routes and surrounding retail and neighborhood amenities.
The property is located in Southeast Houston with convenient access to I-45, Beltway 8, and Almeda Genoa Road. Nearby destinations include Almeda Mall, H-E-B, Beverly Hills Park, and Sagemont Park.
Offered for sale, the duplex is presented as a newer-construction asset intended to support immediate rental potential, combining practical unit design with straightforward access to major routes and surrounding retail and neighborhood amenities.
Key Highlights
- Income‑producing 2‑unit duplex in Southeast Houston at 11328 Palmsprings Drive
- Built in 2019 with 2,658 total building area
- Each unit includes 4 bedrooms and 3 total baths; tile and carpet flooring
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
$30,113
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
8.60%
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%
$602,260
$602.3K
Cap Rate 7%
$430,186
$430.2K
Cap Rate 9%
$334,589
$334.6K
Market Conditions
NOI Build-Up for 2,658 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
$58.4K $21.96/SF
− Vacancy
−$3.6K −$1.36/SF
EGI
$54.8K $20.60/SF
− OpEx
−$24.6K −$9.27/SF
NOI
$30.1K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$602,260
Cap Rate 7%
$430,186
Cap Rate 9%
$334,589
Alternative Uses
Best Use
Multifamily LT 5
$497.3K
$435.2K – $580.2K
NOI $34,814 @ 7.0% cap · market cap 9.95%
Second Best
Apartment 5plus
$430.2K
$376.4K – $501.9K
NOI $30,113 @ 7.0% cap · market cap 8.60%
Theoretical Best
Office A
$683.5K
$598.1K – $797.4K
NOI $47,844 @ 7.0% cap · market cap 13.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
960
Businesses Nearby
Explore this area
Business Placement
Demographics for 77034, TX
38,186
Population
14,188
Households
2.7
Avg Household Size
31
Median Age
13%
College-Educated
70%
High-School Grad
14.2 sq mi
ZIP Area
2,689
Density / Sq Mi
$59,516
Median Household Income
$35,127
Median Earnings
$1,178
Median Rent
$178,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two-unit duplex with modern finishes and functional floor plans, offered as an income-producing residential property.
Where is this duplex located?
The property is located at 11328 Palmsprings Drive Houston, TX.
What is the asking price?
The asking price for this property is $349,999.
What are key features of this property?
This property features: Income‑producing 2‑unit duplex in Southeast Houston at 11328 Palmsprings Drive; Built in 2019 with 2,658 total building area; Each unit includes 4 bedrooms and 3 total baths; tile and carpet flooring
