New Construction Duplex With Central
For Sale
$520,000
1550 Lombardy St, Houston, TX 77023
New 2026 duplex features two similar units, each about 1,200 square feet, with central A/C and heating.
Property Size2,400 SF
Lot Size0.14 Acres
Price / SF$216.67
Days on Market85
Property Features for 1550 Lombardy St
General Information
Standard status
Active
Size
2,400 SF
Lot size
0.14 Acres
Property subtype
Investment
Additional Details
Utilities to Site
Yes
Multifamily Units
2
Building Details
Year Built
2026
Tenancy
Multi
Listing Agency:
COMPASS RE TEXAS, LLC - WEST HOUSTON
(713) 907-6321
Listed By:
Dante Cruz · License #0657021
(713) 907-6321
Source:
Elliman
Added: May 10
Changed: Jul 21
Last Checked: Jul 22 at 12:00PM
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 COMPASS RE TEXAS, LLC - WEST HOUSTON
Investment Insights
Based on property information with market context.
New construction duplex completed in 2026, offering two units designated A and B. The property totals approximately 2,400 square feet, with each unit about 1,200 square feet. Improvements include a concrete foundation, central A/C and heating, gas and electric utilities, and a French drainage system. Interiors are appointed with quartz countertops and stainless steel appliances including a stove with vent hood microwave and dishwasher, plus tile flooring in the restrooms. Units are also prewired for cable and internet.
The duplex is located at 1550 Lombardy St in Houston, Texas. Multiple educational and entertainment destinations are within a 5-mile radius, and several major venues are listed as approximately 2.9 to 3.5 miles away, with NRG Stadium about 9.6 miles from the property.
Set on a 6,250-square-foot lot, this duplex provides a modern, owner-occupant or income-focused configuration with two separately served units.
The duplex is located at 1550 Lombardy St in Houston, Texas. Multiple educational and entertainment destinations are within a 5-mile radius, and several major venues are listed as approximately 2.9 to 3.5 miles away, with NRG Stadium about 9.6 miles from the property.
Set on a 6,250-square-foot lot, this duplex provides a modern, owner-occupant or income-focused configuration with two separately served units.
Key Highlights
- New construction 2026 duplex at 1550 Lombardy St A & B, Houston, TX 77023
- 2,400 sq ft duplex on a 6,250 sq ft lot with two similar units at approximately 1,200 sq ft each
- Central A/C and heating plus gas and electric utilities; built on a concrete foundation
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 | $47.5k | $19.80 |
| − Vacancy | −$2.6k | −$1.09 |
| EGI | $44.9k | $18.71 |
| − OpEx | −$13.5k | −$5.61 |
| NOI | $31.4k | $13.10 |
2,400 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$449.1K
$392.9K – $523.9K
NOI $31,434 @ 7.0% cap · market cap 6.05%
Second Best
Apartment 5plus
$388.4K
$339.9K – $453.2K
NOI $27,190 @ 7.0% cap · market cap 5.23%
Theoretical Best
Office A
$617.1K
$540.0K – $720.0K
NOI $43,200 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
786
Businesses Nearby
Explore this area
Business Placement
Demographics for 77023, TX
26,780
Population
11,850
Households
2.3
Avg Household Size
36
Median Age
24%
College-Educated
75%
High-School Grad
5.5 sq mi
ZIP Area
4,869
Density / Sq Mi
$50,018
Median Household Income
$35,730
Median Earnings
$1,079
Median Rent
$279,300
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 - New 2026 duplex features two similar units, each about 1,200 square feet, with central A/C and heating.
Where is this duplex located?
The property is located at 1550 Lombardy St Houston, TX.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: New construction 2026 duplex at 1550 Lombardy St A & B, Houston, TX 77023; 2,400 sq ft duplex on a 6,250 sq ft lot with two similar units at approximately 1,200 sq ft each; Central A/C and heating plus gas and electric utilities; built on a concrete foundation
