Income Duplex with Two Leased
6131 Andwood St Houston, TX 77087
New
6131 Andwood St, Houston, TX, 77087
$350,000
For Sale
$350,000
Duplex built in 2004 with two 2-bedroom, 1.5-bath units, fully leased and generating current rental income.
Property Size2,130 SF
Price / SF$164.32
Days on Market3
Property Features for 6131 Andwood St
General Information
- Standard status
- Active
- Size
- 2,130 SF
- Property subtype
- Investment
Building Details
- Year Built
- 2004
Listing agency
(832) 768-8775
Listed by
Terin Varghese
(832) 768-8775
Source
Elliman
Added: Jul 19 Updated: Jul 20 at 1:53AM Checked: Jul 21 at 5:16AM
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 Terin Varghese
Investment Insights
Based on property information with market context.
This income-producing duplex was built in 2004 and contains two separate units. Each unit offers 2 bedrooms and 1.5 bathrooms and is currently leased. Tenants are responsible for their own utilities, supporting a straightforward operating structure with two-unit management.
The property is described as conveniently located near Hobby Airport, I-45, and Loop 610. Roof maintenance documented in 2019 included new underlayment, resealing, vent replacement, and localized repairs. The seller also reports no flooding during Hurricane Harvey or other storms, and there is no HOA.
With two leased units and a manageable duplex layout, the property is positioned for an owner seeking long-term rental operations.
The property is described as conveniently located near Hobby Airport, I-45, and Loop 610. Roof maintenance documented in 2019 included new underlayment, resealing, vent replacement, and localized repairs. The seller also reports no flooding during Hurricane Harvey or other storms, and there is no HOA.
With two leased units and a manageable duplex layout, the property is positioned for an owner seeking long-term rental operations.
Key Highlights
- Duplex built in 2004 with two 1,065‑SF units, each featuring 2 bedrooms and 1.5 bathrooms
- Fully occupied; both units are currently leased and generating rental income, with tenants paying their own utilities
- Convenient access near Hobby Airport, I‑45, and Loop 610
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.2k | $19.80 |
| − Vacancy | −$2.3k | −$1.09 |
| EGI | $39.9k | $18.71 |
| − OpEx | −$12.0k | −$5.61 |
| NOI | $27.9k | $13.10 |
2,130 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$398.5K
$348.7K – $465.0K
NOI $27,898 @ 7.0% cap · market cap 7.97%
Second Best
Apartment 5plus
$344.7K
$301.6K – $402.2K
NOI $24,131 @ 7.0% cap · market cap 6.89%
Theoretical Best
Office A
$547.7K
$479.3K – $639.0K
NOI $38,340 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Northwest Houston Realty
Real Estate Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Duplex built in 2004 with two 2-bedroom, 1.5-bath units, fully leased and generating current rental income.
Where is this duplex located?
The property is located at 6131 Andwood St Houston, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Duplex built in 2004 with two 1,065‑SF units, each featuring 2 bedrooms and 1.5 bathrooms; Fully occupied; both units are currently leased and generating rental income, with tenants paying their own utilities; Convenient access near Hobby Airport, I‑45, and Loop 610
