New Construction Duplex with Open
For Sale
$445,000
968 South Lane A/B, Houston, TX 77088
Each residence includes three bedrooms, two baths, quartz countertops, and waterproof wood-look vinyl plank flooring.
Property Size2,560 SF
Price / SF$173.83
Days on Market31
Property Features for 968 South Lane A/B
General Information
Standard status
Active
Size
2,560 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Building Details
Year Built
2026
Buildings
1
Listing Agency:
Real Properties
(713) 832-2550
Listed By:
Kristin Stevens
Source:
Nova-era
Added: Jul 31
Changed: Aug 29
Last Checked: Aug 29 at 10:54AM
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 Real Properties
Investment Insights
Based on property information with market context.
Built in 2026, this 2,560-square-foot duplex contains two residences, each with three bedrooms and two bathrooms. Both sides feature an open kitchen and living arrangement, quartz countertops, black fixtures, abundant lighting, and durable waterproof wood-look vinyl plank flooring. Primary suites provide dedicated bedroom accommodations, while the neutral interior palette creates a consistent finish throughout.
The property is covered by a StrucSure 1-2-10 builder warranty. There are no HOA restrictions noted for the property. The duplex is located near 249, Beltway 8, 290, and the NW Freeway, with hospitals and shopping also nearby.
The property is covered by a StrucSure 1-2-10 builder warranty. There are no HOA restrictions noted for the property. The duplex is located near 249, Beltway 8, 290, and the NW Freeway, with hospitals and shopping also nearby.
Key Highlights
- 2,560‑square‑foot duplex built in 2026
- Two residences, each with 3 bedrooms and 2 baths
- Open‑concept kitchens with quartz countertops and black fixtures
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
$33,530
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
7.53%
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%
$670,600
$670.6K
Cap Rate 7%
$479,000
$479.0K
Cap Rate 9%
$372,556
$372.6K
Market Conditions
NOI Build-Up for 2,560 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
$50.7K $19.80/SF
− Vacancy
−$2.8K −$1.09/SF
EGI
$47.9K $18.71/SF
− OpEx
−$14.4K −$5.61/SF
NOI
$33.5K $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%
$670,600
Cap Rate 7%
$479,000
Cap Rate 9%
$372,556
Alternative Uses
Best Use
Multifamily LT 5
$479.0K
$419.1K – $558.8K
NOI $33,530 @ 7.0% cap · market cap 7.53%
Second Best
Apartment 5plus
$414.3K
$362.5K – $483.4K
NOI $29,003 @ 7.0% cap · market cap 6.52%
Theoretical Best
Office A
$658.3K
$576.0K – $768.0K
NOI $46,080 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
321
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 - Each residence includes three bedrooms, two baths, quartz countertops, and waterproof wood-look vinyl plank flooring.
Where is this duplex located?
The property is located at 968 South Lane A/B Houston, TX.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: 2,560‑square‑foot duplex built in 2026; Two residences, each with 3 bedrooms and 2 baths; Open‑concept kitchens with quartz countertops and black fixtures
