Modern Duplex with Two Full
For Sale
$275,000
26471 Joy Village Dr A/B, Splendora, TX 77372
Turnkey duplex built in 2020 with two full bathrooms, open-concept interiors, and ample on-site parking.
Property Size2,115 SF
Days on Market57
Property Features for 26471 Joy Village Dr A/B
General Information
Standard status
Active
Size
2,115 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$4,065
Building Details
Building Size
2,115 SF
Year Built
2020
Stories
1
Listing Agency:
(713) 440-3912
Listed By:
CeMon Johnson
(713) 440-3912
Source:
Elliman
Added: Jun 17
Changed: Aug 8
Last Checked: Aug 12 at 9:56AM
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 CeMon Johnson
Investment Insights
Based on property information with market context.
This built-in-2020 duplex offers two residential units designed for practical everyday living. Each unit features an open-concept layout with granite countertops, black appliances, and two full bathrooms. Interior finishes include wood-look luxury vinyl plank flooring and energy-efficient double-pane windows, creating a modern, low-maintenance feel.
The property sits on an oversized 16,000+ square-foot lot with ample parking and generous outdoor space, supporting tenant convenience and added privacy. The location is described as convenient to I-45 and Grand Parkway (99), with access to shopping, dining, and major employment centers nearby.
For buyers seeking a residential income asset, the property is presented as turnkey, with no HOA restrictions noted in the materials and a floorplan that accommodates tenants well through two full baths per unit and comfortable open layouts. On-site parking and outdoor space provide additional usability for residents, while the contemporary finish package may appeal to a range of tenant preferences.
The property sits on an oversized 16,000+ square-foot lot with ample parking and generous outdoor space, supporting tenant convenience and added privacy. The location is described as convenient to I-45 and Grand Parkway (99), with access to shopping, dining, and major employment centers nearby.
For buyers seeking a residential income asset, the property is presented as turnkey, with no HOA restrictions noted in the materials and a floorplan that accommodates tenants well through two full baths per unit and comfortable open layouts. On-site parking and outdoor space provide additional usability for residents, while the contemporary finish package may appeal to a range of tenant preferences.
Key Highlights
- Duplex built in 2020 offering modern, low‑maintenance design
- Each unit features an open‑concept layout with granite countertops and black appliances
- Two full bathrooms per unit and contemporary finishes throughout
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
$23,588
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
8.58%
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%
$471,760
$471.8K
Cap Rate 7%
$336,971
$337.0K
Cap Rate 9%
$262,089
$262.1K
Market Conditions
NOI Build-Up for 2,115 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
$36.0K $17.04/SF
− Vacancy
−$2.3K −$1.11/SF
EGI
$33.7K $15.93/SF
− OpEx
−$10.1K −$4.78/SF
NOI
$23.6K $11.15/SF
Area
Montgomery County, TX
Vacancy
6.50%
Lease Rate
$17.04 /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%
$471,760
Cap Rate 7%
$336,971
Cap Rate 9%
$262,089
Alternative Uses
Best Use
Multifamily LT 5
$337.0K
$294.9K – $393.1K
NOI $23,588 @ 7.0% cap · market cap 8.58%
Second Best
Apartment 5plus
$317.5K
$277.8K – $370.4K
NOI $22,222 @ 7.0% cap · market cap 8.08%
Theoretical Best
Specialty Retail
$533.9K
$467.2K – $622.9K
NOI $37,376 @ 7.0% cap · market cap 13.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Explore this area
Business Placement
Demographics for 77372, TX
13,306
Population
4,779
Households
2.8
Avg Household Size
36
Median Age
12%
College-Educated
80%
High-School Grad
51.5 sq mi
ZIP Area
258
Density / Sq Mi
$78,601
Median Household Income
$38,263
Median Earnings
$1,226
Median Rent
$217,600
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 - Turnkey duplex built in 2020 with two full bathrooms, open-concept interiors, and ample on-site parking.
Where is this duplex located?
The property is located at 26471 Joy Village Dr A/B Splendora, TX.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Duplex built in 2020 offering modern, low‑maintenance design; Each unit features an open‑concept layout with granite countertops and black appliances; Two full bathrooms per unit and contemporary finishes throughout
