Two-Unit Duplex with
For Sale
$350,000
6602 Tamar Dr A B, Pasadena, TX 77503
Duplex offers two bedrooms and two bathrooms on each side, with private backyards and ample parking.
Property Size2,430 SF
Days on Market113
Property Features for 6602 Tamar Dr A B
General Information
Standard status
Active
Size
2,430 SF
Property subtype
Investment
Lease Term
Month-to-month
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,092
Building Details
Building Size
2,430 SF
Year Built
1985
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Nan & Company Properties-Galveston Office
Listed By:
Martina Tomey
(713) 824-4700
Source:
Elliman
Added: May 18
Changed: Sep 6
Last Checked: Sep 6 at 11:21AM
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 Nan & Company Properties-Galveston Office
Investment Insights
Based on property information with market context.
This two-unit duplex features two bedrooms and two bathrooms on each side, along with separate private backyards. Each unit also provides plenty of parking for residents and guests.
Located near San Jacinto College and UHCL, the property offers convenient access to Beltway 8. It is also described as a short commute to the Port of Houston.
The property is marketed as never flooded and includes a stated low tax rate, with no HOA. WalkScore and BikeScore indicate the area is car-dependent for day-to-day errands.
Located near San Jacinto College and UHCL, the property offers convenient access to Beltway 8. It is also described as a short commute to the Port of Houston.
The property is marketed as never flooded and includes a stated low tax rate, with no HOA. WalkScore and BikeScore indicate the area is car-dependent for day-to-day errands.
Key Highlights
- Duplex built in 1985, featuring 2 bedrooms and 2 bathrooms on each side
- Each unit has a private backyard and ample parking
- Long‑term tenants already in place
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
$27,674
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
7.91%
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%
$553,480
$553.5K
Cap Rate 7%
$395,343
$395.3K
Cap Rate 9%
$307,489
$307.5K
Market Conditions
NOI Build-Up for 2,430 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
$42.3K $17.40/SF
− Vacancy
−$2.7K −$1.13/SF
EGI
$39.5K $16.27/SF
− OpEx
−$11.9K −$4.88/SF
NOI
$27.7K $11.39/SF
Area
Pasadena, TX
Vacancy
6.50%
Lease Rate
$17.40 /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%
$553,480
Cap Rate 7%
$395,343
Cap Rate 9%
$307,489
Alternative Uses
Best Use
Multifamily LT 5
$395.3K
$345.9K – $461.2K
NOI $27,674 @ 7.0% cap · market cap 7.91%
Second Best
Apartment 5plus
$355.4K
$310.9K – $414.6K
NOI $24,875 @ 7.0% cap · market cap 7.11%
Theoretical Best
Office A
$801.9K
$701.7K – $935.6K
NOI $56,135 @ 7.0% cap · market cap 16.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
556
Businesses Nearby
Explore this area
Business Placement
Demographics for 77503, TX
24,956
Population
8,980
Households
2.8
Avg Household Size
33
Median Age
10%
College-Educated
70%
High-School Grad
6.3 sq mi
ZIP Area
3,961
Density / Sq Mi
$64,977
Median Household Income
$37,015
Median Earnings
$1,211
Median Rent
$165,300
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 - Duplex offers two bedrooms and two bathrooms on each side, with private backyards and ample parking.
Where is this duplex located?
The property is located at 6602 Tamar Dr A B Pasadena, 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 1985, featuring 2 bedrooms and 2 bathrooms on each side; Each unit has a private backyard and ample parking; Long‑term tenants already in place
