Fenced Corner-Lot
New
For Sale
$280,000
1141 Frankie St, Houston, TX 77015
Two-bedroom residences with full kitchens, tiled bathrooms, double-pane windows, and unfinished flex areas.
Property Size1,628 SF
Days on Market2
Property Features for 1141 Frankie St
General Information
Standard status
Active
Size
1,628 SF
Property subtype
Investment
Site & Location
Highway Access
Yes
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$3,927
Building Details
Building Size
1,628 SF
Year Built
2022
Stories
1
Units
2
Listing Agency:
eXp Realty LLC
Listed By:
Shahin Naghavi · License #0588746
(713) 965-7290
Source:
Elliman
Added: Sep 19
Last Checked: Sep 19 at 2:54PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
Built in 2022, this duplex contains two residences, each with 2 bedrooms and 1 full bathroom. Both units include full kitchens, double-pane windows, and a combination of carpet and tile flooring. The bathrooms feature tile walk-in showers, while unfinished additions provide extra interior space for future configuration as a bedroom, office, game room, or other flex area.
The property occupies a large corner lot with full fencing and no HOA. Its Houston location offers access to major freeways, with shopping and dining nearby. Walk Score is 34, Bike Score is 44, and Transit Score is 25, reflecting a car-dependent setting with some transit access.
The property occupies a large corner lot with full fencing and no HOA. Its Houston location offers access to major freeways, with shopping and dining nearby. Walk Score is 34, Bike Score is 44, and Transit Score is 25, reflecting a car-dependent setting with some transit access.
Key Highlights
- Two‑unit duplex built in 2022
- Each unit has 2 bedrooms and 1 full bathroom
- Large corner lot with full fencing
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
$21,323
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
7.62%
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%
$426,460
$426.5K
Cap Rate 7%
$304,614
$304.6K
Cap Rate 9%
$236,922
$236.9K
Market Conditions
NOI Build-Up for 1,628 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
$32.2K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.5K $18.71/SF
− OpEx
−$9.1K −$5.61/SF
NOI
$21.3K $13.10/SF
Area
Houston, TX
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$426,460
Cap Rate 7%
$304,614
Cap Rate 9%
$236,922
Alternative Uses
Best Use
Multifamily LT 5
$304.6K
$266.5K – $355.4K
NOI $21,323 @ 7.0% cap · market cap 7.62%
Second Best
Apartment 5plus
$263.5K
$230.6K – $307.4K
NOI $18,444 @ 7.0% cap · market cap 6.59%
Theoretical Best
Office A
$418.6K
$366.3K – $488.4K
NOI $29,304 @ 7.0% cap · market cap 10.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
767
Businesses Nearby
Explore this area
Business Placement
Demographics for 77015, TX
57,106
Population
19,961
Households
2.9
Avg Household Size
31
Median Age
11%
College-Educated
70%
High-School Grad
20.7 sq mi
ZIP Area
2,759
Density / Sq Mi
$57,324
Median Household Income
$34,477
Median Earnings
$1,169
Median Rent
$164,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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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-bedroom residences with full kitchens, tiled bathrooms, double-pane windows, and unfinished flex areas.
Where is this duplex located?
The property is located at 1141 Frankie St Houston, TX.
What is the asking price?
The asking price for this property is $280,000.
What are key features of this property?
This property features: Two‑unit duplex built in 2022; Each unit has 2 bedrooms and 1 full bathroom; Large corner lot with full fencing
