Updated Three-Bedroom
For Sale
$360,000
1936 Upland Dr, Houston, TX 77043
Two matching residences offer carpet-free interiors, refreshed systems, and flexible owner-occupant or rental use.
Property Size2,650 SF
Days on Market93
Property Features for 1936 Upland Dr
General Information
Standard status
Active
Size
2,650 SF
Property subtype
Investment
Building Details
Building Size
2,650 SF
Year Built
1983
Stories
2
Listed By:
Caeden Coffey
(281) 203-2048
Source:
Elliman
Added: Jun 3
Changed: Aug 30
Last Checked: Aug 31 at 2:43PM
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 Caeden Coffey
Investment Insights
Based on property information with market context.
Built in 1983, this duplex contains two matching residences, each with 3 bedrooms and 2 full bathrooms. The layouts place one bedroom on the ground level and two upstairs, creating separation between living and sleeping areas. Recent improvements include updated AC systems and a newer roof. Both interiors feature contemporary finishes, clean presentation, and flooring without carpet.
The property is located at 1936 Upland Dr in Houston, with access to I-10 and Beltway 8 described as minutes away. Walk Score is 39, Bike Score is 42, and Transit Score is 26. The two-unit configuration supports occupying one residence while leasing the other or renting both units.
The property is located at 1936 Upland Dr in Houston, with access to I-10 and Beltway 8 described as minutes away. Walk Score is 39, Bike Score is 42, and Transit Score is 26. The two-unit configuration supports occupying one residence while leasing the other or renting both units.
Key Highlights
- Two‑unit duplex with matching residences
- Each unit includes 3 bedrooms and 2 full bathrooms
- One bedroom downstairs and two upstairs in each 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
$30,022
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
8.34%
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%
$600,440
$600.4K
Cap Rate 7%
$428,886
$428.9K
Cap Rate 9%
$333,578
$333.6K
Market Conditions
NOI Build-Up for 2,650 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
$58.2K $21.96/SF
− Vacancy
−$3.6K −$1.36/SF
EGI
$54.6K $20.60/SF
− OpEx
−$24.6K −$9.27/SF
NOI
$30.0K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
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%
$600,440
Cap Rate 7%
$428,886
Cap Rate 9%
$333,578
Alternative Uses
Best Use
Multifamily LT 5
$495.8K
$433.9K – $578.5K
NOI $34,709 @ 7.0% cap · market cap 9.64%
Second Best
Apartment 5plus
$428.9K
$375.3K – $500.4K
NOI $30,022 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$681.4K
$596.3K – $795.0K
NOI $47,700 @ 7.0% cap · market cap 13.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
649
Businesses Nearby
Explore this area
Business Placement
Demographics for 77043, TX
26,281
Population
11,197
Households
2.3
Avg Household Size
36
Median Age
43%
College-Educated
84%
High-School Grad
14.2 sq mi
ZIP Area
1,851
Density / Sq Mi
$75,017
Median Household Income
$48,228
Median Earnings
$1,417
Median Rent
$382,800
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 matching residences offer carpet-free interiors, refreshed systems, and flexible owner-occupant or rental use.
Where is this duplex located?
The property is located at 1936 Upland Dr Houston, TX.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Two‑unit duplex with matching residences; Each unit includes 3 bedrooms and 2 full bathrooms; One bedroom downstairs and two upstairs in each residence
