Two-Unit New Construction
New
For Sale
$445,000
9011 Surry Street, Houston, TX 77028
Both residences offer three-bedroom layouts with contemporary interior finishes.
Property Size2,650 SF
Price / SF$167.92
Days on Market4
Property Features for 9011 Surry Street
General Information
Standard status
Active
Size
2,650 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
Yes
Builder
2650
Building Details
Building Size
2,650 SF
Year Built
2026
Buildings
1
Stories
2
Listing Agency:
Prime Focus Realty
(281) 486-1900
Listed By:
David Johnston
(832) 525-4332
Source:
Garygreene
Added: Sep 28
Changed: Sep 30
Last Checked: Oct 1 at 10:18AM
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 Prime Focus Realty
Investment Insights
Based on property information with market context.
Completed in 2026, this duplex contains two residences with approximately 1,325 square feet apiece. Each unit has three bedrooms and 2.5 bathrooms, with spacious bedroom layouts and updated fixtures. Interior details include gold accents and Taj Mahal countertops.
The property is near LBJ Hospital and provides access to I-69/US-59. Its two-unit configuration allows for separate residential occupancy within one building.
The property is near LBJ Hospital and provides access to I-69/US-59. Its two-unit configuration allows for separate residential occupancy within one building.
Key Highlights
- Two‑unit duplex completed in 2026
- Approximately 2,650 SF total, with each unit offering approximately 1,325 SF
- Each residence has 3 bedrooms and 2.5 bathrooms
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
$34,709
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
7.80%
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%
$694,180
$694.2K
Cap Rate 7%
$495,843
$495.8K
Cap Rate 9%
$385,656
$385.7K
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
$52.5K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$49.6K $18.71/SF
− OpEx
−$14.9K −$5.61/SF
NOI
$34.7K $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%
$694,180
Cap Rate 7%
$495,843
Cap Rate 9%
$385,656
Alternative Uses
Best Use
Multifamily LT 5
$495.8K
$433.9K – $578.5K
NOI $34,709 @ 7.0% cap · market cap 7.80%
Second Best
Apartment 5plus
$428.9K
$375.3K – $500.4K
NOI $30,022 @ 7.0% cap · market cap 6.75%
Theoretical Best
Office A
$681.4K
$596.3K – $795.0K
NOI $47,700 @ 7.0% cap · market cap 10.72%
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
396
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 - Both residences offer three-bedroom layouts with contemporary interior finishes.
Where is this duplex located?
The property is located at 9011 Surry Street 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: Two‑unit duplex completed in 2026; Approximately 2,650 SF total, with each unit offering approximately 1,325 SF; Each residence has 3 bedrooms and 2.5 bathrooms
