Contemporary Two-Story
For Sale
$450,000
Pending
7920 Boy St A/B, Houston, TX 77028
Planned duplex with separate utilities, open living areas, and upgraded interior finishes.
Property Size2,604 SF
Days on Market111
Property Features for 7920 Boy St A/B
General Information
Standard status
Pending
Size
2,604 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Building Details
Building Size
2,604 SF
Year Built
2026
Buildings
1
Stories
2
Units
1
Construction
Contemporary
Listing Agency:
Nextgen Real Estate Properties
Listed By:
Norisha Johnson
(346) 304-1590
Source:
Elliman
Added: May 15
Changed: Aug 31
Last Checked: Sep 1 at 10:47PM
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 Nextgen Real Estate Properties
Investment Insights
Based on property information with market context.
Planned for completion in 2026, this contemporary duplex is configured across two stories with open-concept living areas and separate utilities. The interior specifications include quartz countertops, a waterfall island, custom cabinetry, and designer lighting, along with generously sized bedrooms and walk-in closets.
The primary bath is designed with a wet-room shower and spa-oriented finish package. A practical layout supports distinct residential spaces within the duplex, while separate utility systems provide operational separation between the units.
The primary bath is designed with a wet-room shower and spa-oriented finish package. A practical layout supports distinct residential spaces within the duplex, while separate utility systems provide operational separation between the units.
Key Highlights
- Two‑story duplex planned for completion in 2026
- Separate utilities for the duplex units
- Open‑concept living areas with a practical layout
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
$34,106
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
7.58%
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%
$682,120
$682.1K
Cap Rate 7%
$487,229
$487.2K
Cap Rate 9%
$378,956
$379.0K
Market Conditions
NOI Build-Up for 2,604 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
$51.6K $19.80/SF
− Vacancy
−$2.8K −$1.09/SF
EGI
$48.7K $18.71/SF
− OpEx
−$14.6K −$5.61/SF
NOI
$34.1K $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%
$682,120
Cap Rate 7%
$487,229
Cap Rate 9%
$378,956
Alternative Uses
Best Use
Multifamily LT 5
$487.2K
$426.3K – $568.4K
NOI $34,106 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$421.4K
$368.8K – $491.7K
NOI $29,501 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$669.6K
$585.9K – $781.2K
NOI $46,872 @ 7.0% cap · market cap 10.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
180
Businesses Nearby
Explore this area
Business Placement
Demographics for 77028, TX
18,701
Population
7,102
Households
2.6
Avg Household Size
35
Median Age
8%
College-Educated
69%
High-School Grad
9.1 sq mi
ZIP Area
2,055
Density / Sq Mi
$36,244
Median Household Income
$28,099
Median Earnings
$1,115
Median Rent
$108,200
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 duplex with separate utilities, open living areas, and upgraded interior finishes.
Where is this duplex located?
The property is located at 7920 Boy St A/B Houston, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑story duplex planned for completion in 2026; Separate utilities for the duplex units; Open‑concept living areas with a practical layout
