New Duplex in Independence
For Sale
$495,000
1321 E 35th Street, Houston, TX 77022
Recently built duplex with modern features in a growing area.
Property Size2,410 SF
Price / SF$205.39
Days on Market709
Property Features for 1321 E 35th Street
General Information
Standard status
Active
Size
2,410 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Independence Heights
Amenities
Plank,Vinyl
Yes
2
3
Window Coverings
Washer Hookup,Dryer Hookup
Builder
Granite Counters,Window Treatments,Ceiling Fan(s)
Partial
Other,Subdivision
Two
100x40
Appraiser
Paved
Private Entrance
2410
Building Details
Building Size
2,410 SF
Year Built
2023
Stories
2
Listing Agency:
CB&A, Realtors
(713) 461-6800
Listed By:
Lynette Lew · License #0543709
(713) 582-2202
Source:
Garygreene
Added: Nov 16, 2024
Changed: Oct 25
Last Checked: Oct 24 at 2:21PM
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 CB&A, Realtors
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Investment Insights
Based on property information with market context.
This recently constructed duplex is located in the Independence Heights area. Each unit features 3 bedrooms and 2 baths with an open layout. The interiors are designed with elevated ceilings and large windows to maximize natural light. The layout flows into the dining area, kitchen, and living area. The kitchens are equipped with stainless steel appliances, granite countertops, and a pantry. Additional features include modern fixtures, vinyl plank flooring, ceiling fans, neutral paint, and walk-in closets. Ample parking is available, along with a fenced backyard. The property is suitable for investors seeking rental income or for owner-occupants looking to offset their mortgage by renting out one unit. The location provides close access to major roadways.
Key Highlights
- Recently built duplex (2023) in Independence Heights.
- Ideal for investors or owner‑occupants seeking rental income.
- Enjoy the open floor plan filled with abundant natural light.**
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,565
Cap Rate
6.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$631,300
$631.3K
Cap Rate 7%
$450,929
$450.9K
Cap Rate 9%
$350,722
$350.7K
Market Conditions
NOI Build-Up for 2,410 SF
Gross rent
$47.7K $19.80/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$45.1K $18.71/SF
− OpEx
−$13.5K −$5.61/SF
NOI
$31.6K $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 Rate 5%
$631,300
Cap Rate 7%
$450,929
Cap Rate 9%
$350,722
Alternative Uses
Best Use
Multifamily LT 5
$450.9K
$394.6K – $526.1K
NOI $31,565 @ 7.0% cap · market cap 6.38%
Second Best
Apartment 5plus
$390.0K
$341.3K – $455.1K
NOI $27,303 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$619.7K
$542.3K – $723.0K
NOI $43,380 @ 7.0% cap · market cap 8.76%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Location Intelligence
Trade Area within ½ mile
686
Businesses Nearby
Explore this area
Business Placement
Demographics for 77022, TX
28,748
Population
10,717
Households
2.7
Avg Household Size
35
Median Age
13%
College-Educated
63%
High-School Grad
5.8 sq mi
ZIP Area
4,957
Density / Sq Mi
$48,386
Median Household Income
$28,877
Median Earnings
$1,047
Median Rent
$197,200
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
Frequently Asked Questions
What type of property is this?
Duplex - Recently built duplex with modern features in a growing area.
Where is this duplex located?
The property is located at 1321 E 35th Street Houston, TX.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Recently built duplex (2023) in Independence Heights.; Ideal for investors or owner‑occupants seeking rental income.; Enjoy the open floor plan filled with abundant natural light.**
