Two-Unit Modern
New
For Sale
$519,000
7218 Tippett Street, Houston, TX 77088
Planned 2026 construction will provide two residences, each with a private entry and attached garage.
Property Size2,844 SF
Days on Market6
Property Features for 7218 Tippett Street
General Information
Standard status
Active
Size
2,844 SF
Property subtype
Multi Family,Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,421
Building Details
Building Size
2,844 SF
Year Built
2026
Buildings
1
Stories
2
Construction
modern
Listing Agency:
Exclusive Prime Realty, LLC
(832) 326-7886
Listed By:
Britany Freeman · License #0722163
(832) 326-7886
Source:
Mpowerrealtygroup
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 24 at 2:09PM
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 Exclusive Prime Realty, LLC
Investment Insights
Based on property information with market context.
Scheduled for completion in 2026, this two-story duplex is being developed with two separate residences within one building. Each unit is planned with three bedrooms, two and a half bathrooms, an individual entrance, and an attached garage. The design incorporates contemporary exterior finishes and clean-lined architecture.
The property is located at 7218 Tippett Street in Houston, Texas 77088. Construction is currently underway, with the building configured for two independent living spaces and private access for each residence.
The property is located at 7218 Tippett Street in Houston, Texas 77088. Construction is currently underway, with the building configured for two independent living spaces and private access for each residence.
Key Highlights
- Two‑story duplex with two separate units
- Each residence includes 3 bedrooms and 2.5 bathrooms
- Private entrance provided for each unit
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
$37,250
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
7.18%
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%
$745,000
$745.0K
Cap Rate 7%
$532,143
$532.1K
Cap Rate 9%
$413,889
$413.9K
Market Conditions
NOI Build-Up for 2,844 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
$56.3K $19.80/SF
− Vacancy
−$3.1K −$1.09/SF
EGI
$53.2K $18.71/SF
− OpEx
−$16.0K −$5.61/SF
NOI
$37.2K $13.10/SF
Area
Houston, TX
Vacancy
5.50%
Lease Rate
$19.80 /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%
$745,000
Cap Rate 7%
$532,143
Cap Rate 9%
$413,889
Alternative Uses
Best Use
Multifamily LT 5
$532.1K
$465.6K – $620.8K
NOI $37,250 @ 7.0% cap · market cap 7.18%
Second Best
Apartment 5plus
$460.3K
$402.8K – $537.0K
NOI $32,220 @ 7.0% cap · market cap 6.21%
Theoretical Best
Office A
$731.3K
$639.9K – $853.2K
NOI $51,192 @ 7.0% cap · market cap 9.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
310
Businesses Nearby
Explore this area
Business Placement
Demographics for 77088, TX
54,320
Population
18,500
Households
2.9
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
11.1 sq mi
ZIP Area
4,894
Density / Sq Mi
$52,549
Median Household Income
$32,015
Median Earnings
$1,177
Median Rent
$173,900
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 - Planned 2026 construction will provide two residences, each with a private entry and attached garage.
Where is this duplex located?
The property is located at 7218 Tippett Street Houston, TX.
What is the asking price?
The asking price for this property is $519,000.
What are key features of this property?
This property features: Two‑story duplex with two separate units; Each residence includes 3 bedrooms and 2.5 bathrooms; Private entrance provided for each unit
