Two-Unit
For Sale
$289,999
7109 Myrtle Street, Houston, TX 77087
Residential duplex built in 1935 with a documented 2,240-square-foot footprint.
Property Size2,240 SF
Price / SF$129.46
Days on Market13
Property Features for 7109 Myrtle Street
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Residential Income
Lease Term
Month To Month
Taxes and HOA fees
Annual Taxes
$5,286
Amenities
Electric, Gas
Electric, Natural Gas
Building Details
Building Size
2,240 SF
Year Built
1935
Stories
2
Listing Agency:
Coldwell Banker Realty - Houston Bay Area
(832) 547-1660
Listed By:
Otilia Robles · License #0756892
(832) 547-1660
Source:
Evrealestate
Added: Aug 12
Changed: Aug 23
Last Checked: Aug 24 at 3:54AM
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 Coldwell Banker Realty - Houston Bay Area
Investment Insights
Based on property information with market context.
This duplex property offers 2,240 square feet of residential space and was constructed in 1935. The asset is classified as a duplex, supporting a two-unit residential configuration.
The property is located at 7109 Myrtle Street in Houston, Texas 77087, within Harris County. Access from the I-610 East Loop is available via Woodridge Drive, Howard Drive, and Myrtle Street.
The property is located at 7109 Myrtle Street in Houston, Texas 77087, within Harris County. Access from the I-610 East Loop is available via Woodridge Drive, Howard Drive, and Myrtle Street.
Key Highlights
- 2,240‑square‑foot duplex property
- Constructed in 1935
- Located at 7109 Myrtle Street, Houston, TX 77087
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
$25,377
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
8.75%
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%
$507,540
$507.5K
Cap Rate 7%
$362,529
$362.5K
Cap Rate 9%
$281,967
$282.0K
Market Conditions
NOI Build-Up for 2,240 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
$49.2K $21.96/SF
− Vacancy
−$3.0K −$1.36/SF
EGI
$46.1K $20.60/SF
− OpEx
−$20.8K −$9.27/SF
NOI
$25.4K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$507,540
Cap Rate 7%
$362,529
Cap Rate 9%
$281,967
Alternative Uses
Best Use
Multifamily LT 5
$419.1K
$366.7K – $489.0K
NOI $29,339 @ 7.0% cap · market cap 10.12%
Second Best
Apartment 5plus
$362.5K
$317.2K – $423.0K
NOI $25,377 @ 7.0% cap · market cap 8.75%
Theoretical Best
Office A
$576.0K
$504.0K – $672.0K
NOI $40,320 @ 7.0% cap · market cap 13.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
505
Businesses Nearby
Explore this area
Business Placement
Demographics for 77087, TX
34,654
Population
12,400
Households
2.8
Avg Household Size
35
Median Age
12%
College-Educated
63%
High-School Grad
6.6 sq mi
ZIP Area
5,251
Density / Sq Mi
$53,624
Median Household Income
$32,927
Median Earnings
$1,015
Median Rent
$148,400
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 - Residential duplex built in 1935 with a documented 2,240-square-foot footprint.
Where is this duplex located?
The property is located at 7109 Myrtle Street Houston, TX.
What is the asking price?
The asking price for this property is $289,999.
What are key features of this property?
This property features: 2,240‑square‑foot duplex property; Constructed in 1935; Located at 7109 Myrtle Street, Houston, TX 77087
