New Construction
For Sale
$585,000
1333 Ferguson Way Unit A/B, Houston, TX 77088
Two-unit residential income property under construction with no HOA and access to Houston’s urban core.
Property Size3,657 SF
Days on Market8
Property Features for 1333 Ferguson Way Unit A/B
General Information
Standard status
Active
Size
3,657 SF
Property subtype
Multi Family,Duplex
Taxes and HOA fees
Annual Taxes
$1,423
Building Details
Building Size
3,657 SF
Year Built
2026
Listing Agency:
eXp Realty LLC
Listed By:
Lina Monteverde
(832) 205-0423
Source:
Mpowerrealtygroup
Added: Aug 26
Changed: Aug 31
Last Checked: Aug 31 at 9:23PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This two-unit residential property is currently under construction, with completion identified for 2026. The duplex format supports separate occupancy and rental arrangements, including living in one unit while leasing the other or operating both units as rentals. Room-by-room and mid-term leasing are also identified as possible strategies.
The property has no HOA and offers convenient access to The Heights and Downtown Houston. Its setting provides proximity to major employment centers, restaurants, shopping, entertainment, and other destinations within Houston’s urban core.
The property has no HOA and offers convenient access to The Heights and Downtown Houston. Its setting provides proximity to major employment centers, restaurants, shopping, entertainment, and other destinations within Houston’s urban core.
Key Highlights
- Duplex currently under construction with completion identified for 2026
- Two‑unit configuration supports owner occupancy or leasing both units
- No HOA
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
$47,898
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
8.19%
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%
$957,960
$958.0K
Cap Rate 7%
$684,257
$684.3K
Cap Rate 9%
$532,200
$532.2K
Market Conditions
NOI Build-Up for 3,657 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
$72.4K $19.80/SF
− Vacancy
−$4.0K −$1.09/SF
EGI
$68.4K $18.71/SF
− OpEx
−$20.5K −$5.61/SF
NOI
$47.9K $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%
$957,960
Cap Rate 7%
$684,257
Cap Rate 9%
$532,200
Alternative Uses
Best Use
Multifamily LT 5
$684.3K
$598.7K – $798.3K
NOI $47,898 @ 7.0% cap · market cap 8.19%
Second Best
Apartment 5plus
$591.9K
$517.9K – $690.5K
NOI $41,431 @ 7.0% cap · market cap 7.08%
Theoretical Best
Office A
$940.4K
$822.8K – $1.10M
NOI $65,826 @ 7.0% cap · market cap 11.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
234
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 - Two-unit residential income property under construction with no HOA and access to Houston’s urban core.
Where is this duplex located?
The property is located at 1333 Ferguson Way Unit A/B Houston, TX.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: Duplex currently under construction with completion identified for 2026; Two‑unit configuration supports owner occupancy or leasing both units; No HOA
