Modern Duplex in Independence
For Sale
$495,000
1319 E 35th Street, Houston, TX 77022
Recently built duplex with open layout, ideal for investors.
Property Size2,410 SF
Days on Market704
Property Features for 1319 E 35th Street
General Information
Standard status
Active
Size
2,410 SF
Property subtype
Multi Family,Duplex
Site & Location
Neighborhood
Independence Heights
Building Details
Building Size
2,410 SF
Year Built
2023
Listing Agency:
SERHANT
Listed By:
Steven Kinne · License #0522012
(281) 610-3625
Source:
Mpowerrealtygroup
Added: Nov 21, 2024
Changed: Oct 26
Last Checked: Oct 24 at 10:50PM
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 SERHANT
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Investment Insights
Based on property information with market context.
This recently built duplex is located in Independence Heights. The property features 3 bedrooms and 2 baths with an open layout. Elevated ceilings and large windows provide natural light. The layout flows into the dining area, kitchen, and living area. The kitchen includes stainless steel appliances, granite countertops, and a pantry. Additional features include modern fixtures, vinyl plank flooring, ceiling fans, neutral paint, and a walk-in closet. Ample parking is available, along with a fenced backyard. The property offers access to major roadways. It is suitable for investors, with the option to live in one side and lease out the other.
Key Highlights
- Recently built (2023) duplex in booming Independence Heights.
- Enjoy the open floor plan with abundant natural light.
- Stainless steel appliances, granite countertops, and pantry.
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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Open Analytics
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
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Recently built duplex with open layout, ideal for investors.
Where is this duplex located?
The property is located at 1319 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 (2023) duplex in booming Independence Heights.; Enjoy the open floor plan with abundant natural light.; Stainless steel appliances, granite countertops, and pantry.
