Duplex Homes on One
For Sale
$149,900
1415 Gregg St, Houston, TX 77020
Two separate homes on one parcel ID, each with its own mailing address and utility connections.
Days on Market8
Property Features for 1415 Gregg St
General Information
Standard status
Active
Property subtype
Investment
Additional Details
Utilities to Site
Yes
Building Details
Building Size
768 SF
Year Built
1930
Listing Agency:
RE/MAX EAST
(713) 410-7082
Listed By:
Melba Lara · License #415449
(713) 410-7082
Source:
Elliman
Added: Jul 25
Changed: Jul 26
Last Checked: Jul 31 at 12:30PM
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 RE/MAX EAST
Investment Insights
Based on property information with market context.
This property consists of two homes on a single parcel ID, with each home having its own mailing address and its own utility connections. The homes are currently in need of repair, making the asset well suited for a buyer looking to rebuild or renovate.
The property is located approximately 5–6 miles from downtown Houston. The seller notes recent construction can be seen in the area, along with new construction currently underway.
Because both homes are in disrepair, viewers are advised to take necessary precautions to avoid bodily harm and/or accidents, as the seller will not assume liability.
The property is located approximately 5–6 miles from downtown Houston. The seller notes recent construction can be seen in the area, along with new construction currently underway.
Because both homes are in disrepair, viewers are advised to take necessary precautions to avoid bodily harm and/or accidents, as the seller will not assume liability.
Key Highlights
- Two separate homes on one parcel ID
- Each home has its own mailing address and utility connections
- Year built: 1930
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $15.2k | $19.80 |
| − Vacancy | −$836 | −$1.09 |
| EGI | $14.4k | $18.71 |
| − OpEx | −$4.3k | −$5.61 |
| NOI | $10.1k | $13.10 |
768 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$143.7K
$125.7K – $167.7K
NOI $10,059 @ 7.0% cap · market cap 6.71%
Second Best
Apartment 5plus
$124.3K
$108.8K – $145.0K
NOI $8,701 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$197.5K
$172.8K – $230.4K
NOI $13,824 @ 7.0% cap · market cap 9.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
522
Businesses Nearby
Explore this area
Business Placement
Demographics for 77020, TX
24,846
Population
10,054
Households
2.5
Avg Household Size
35
Median Age
13%
College-Educated
65%
High-School Grad
7.8 sq mi
ZIP Area
3,185
Density / Sq Mi
$49,481
Median Household Income
$32,573
Median Earnings
$942
Median Rent
$133,600
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 separate homes on one parcel ID, each with its own mailing address and utility connections.
Where is this duplex located?
The property is located at 1415 Gregg St Houston, TX.
What is the asking price?
The asking price for this property is $149,900.
What are key features of this property?
This property features: Two separate homes on one parcel ID; Each home has its own mailing address and utility connections; Year built: 1930
