Duplex with Renovated
For Sale
$270,000
Pending
1241 16th Street, Galena Park, TX 77547
Two tenant-occupied residences include updated interiors, separate bedroom and bath configurations, and recently replaced HVAC systems.
Property Size1,596 SF
Days on Market472
Property Features for 1241 16th Street
General Information
Standard status
Pending
Size
1,596 SF
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,609
Building Details
Year Built
1958
Tenancy
Multi
Listing Agency:
CitiQuest Properties
(346) 603-2564
Listed By:
Jessica Rotta · License #0813341
(346) 603-2564
Source:
Exitrealty
Added: May 18, 2025
Changed: Aug 30
Last Checked: Aug 31 at 2:44PM
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 CitiQuest Properties
Investment Insights
Based on property information with market context.
This 1958 duplex contains 1,596 square feet and is configured as two tenant-occupied residences. One unit offers two bedrooms and two bathrooms, along with granite countertops, a gas range, a spacious interior layout, and a full-size bathtub. The second residence has one bedroom and one bathroom and has undergone a full renovation with quartz countertops and updated finishes.
Both units have recently replaced HVAC systems. The property is located at 1241 16th Street in Galena Park, Texas, providing a defined two-unit residential income configuration with a mix of two-bedroom and one-bedroom accommodations.
Both units have recently replaced HVAC systems. The property is located at 1241 16th Street in Galena Park, Texas, providing a defined two-unit residential income configuration with a mix of two-bedroom and one-bedroom accommodations.
Key Highlights
- Two‑unit duplex with both residences tenant‑occupied
- 1,596 square feet; built in 1958
- Unit mix includes one 2‑bedroom, 2‑bathroom residence and one 1‑bedroom, 1‑bathroom residence
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
$12,196
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
4.52%
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%
$243,920
$243.9K
Cap Rate 7%
$174,229
$174.2K
Cap Rate 9%
$135,511
$135.5K
Market Conditions
NOI Build-Up for 1,596 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
$19.2K $12.00/SF
− Vacancy
−$1.7K −$1.08/SF
EGI
$17.4K $10.92/SF
− OpEx
−$5.2K −$3.27/SF
NOI
$12.2K $7.64/SF
Area
Harris County, TX
Vacancy
9.03%
Lease Rate
$12.00 /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%
$243,920
Cap Rate 7%
$174,229
Cap Rate 9%
$135,511
Alternative Uses
Best Use
Multifamily LT 5
$174.2K
$152.5K – $203.3K
NOI $12,196 @ 7.0% cap · market cap 4.52%
Second Best
Apartment 5plus
$151.2K
$132.3K – $176.4K
NOI $10,582 @ 7.0% cap · market cap 3.92%
Theoretical Best
Office A
$435.8K
$381.3K – $508.4K
NOI $30,505 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
145
Businesses Nearby
Explore this area
Business Placement
Demographics for 77547, TX
9,627
Population
2,928
Households
3.3
Avg Household Size
31
Median Age
9%
College-Educated
68%
High-School Grad
3.9 sq mi
ZIP Area
2,468
Density / Sq Mi
$53,854
Median Household Income
$30,171
Median Earnings
$1,099
Median Rent
$109,100
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 tenant-occupied residences include updated interiors, separate bedroom and bath configurations, and recently replaced HVAC systems.
Where is this duplex located?
The property is located at 1241 16th Street Galena Park, TX.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Two‑unit duplex with both residences tenant‑occupied; 1,596 square feet; built in 1958; Unit mix includes one 2‑bedroom, 2‑bathroom residence and one 1‑bedroom, 1‑bathroom residence
