Recently Built Duplex For
For Sale
$379,900
7928 Count St, Houston, TX 77028
Well-maintained duplex with two 3-bedroom units, generating rental income.
Property Size2,311 SF
Lot Size0.08 Acres
Days on Market269
Property Features for 7928 Count St
General Information
Standard status
Active
Size
2,311 SF
Lot size
0.08 Acres
Property subtype
Investment
Lease Term
12 months
Taxes and HOA fees
Annual Taxes
$8,555
Building Details
Building Size
2,311 SF
Year Built
2024
Stories
3
Units
1
Listing Agency:
THE ALL HOMES REALTY GROUP
(908) 370-3174
Listed By:
Madeline Kaplan
(908) 370-3174
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 15
Last Checked: Aug 24 at 7:38AM
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 THE ALL HOMES REALTY GROUP
Investment Insights
Based on property information with market context.
This recently built duplex features two spacious units, each containing three bedrooms and two bathrooms. The units offer a modern, open-concept layout connecting the kitchen, dining, and living areas. A downstairs bedroom provides flexibility for guests or a home office. Upstairs, the primary suite includes a private en-suite bathroom. Each unit also features a private fenced yard and ample parking. The property is currently leased and generating rental income. This property is suitable for investors, multi-generational living, or owner-occupants.
Key Highlights
- Newly built duplex (2024) offering immediate rental income.
- Two spacious 3‑bedroom, 2‑bath units with modern open‑concept layouts.
- Each unit has a private fenced yard and ample parking.
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
$30,269
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
7.97%
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%
$605,380
$605.4K
Cap Rate 7%
$432,414
$432.4K
Cap Rate 9%
$336,322
$336.3K
Market Conditions
NOI Build-Up for 2,311 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
$45.8K $19.80/SF
− Vacancy
−$2.5K −$1.09/SF
EGI
$43.2K $18.71/SF
− OpEx
−$13.0K −$5.61/SF
NOI
$30.3K $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%
$605,380
Cap Rate 7%
$432,414
Cap Rate 9%
$336,322
Alternative Uses
Best Use
Multifamily LT 5
$432.4K
$378.4K – $504.5K
NOI $30,269 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$374.0K
$327.3K – $436.4K
NOI $26,182 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$594.3K
$520.0K – $693.3K
NOI $41,598 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
201
Businesses Nearby
Explore this area
Business Placement
Demographics for 77028, TX
18,701
Population
7,102
Households
2.6
Avg Household Size
35
Median Age
8%
College-Educated
69%
High-School Grad
9.1 sq mi
ZIP Area
2,055
Density / Sq Mi
$36,244
Median Household Income
$28,099
Median Earnings
$1,115
Median Rent
$108,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Well-maintained duplex with two 3-bedroom units, generating rental income.
Where is this duplex located?
The property is located at 7928 Count St Houston, TX.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Newly built duplex (2024) offering immediate rental income.; Two spacious 3‑bedroom, 2‑bath units with modern open‑concept layouts.; Each unit has a private fenced yard and ample parking.
