Duplex Homes on One
For Sale
$149,900
1415 Gregg Street, Houston, TX 77020
Two separate homes on one parcel ID, each with its own mailing address and utility connections.
Property Size768 SF
Days on Market42
Property Features for 1415 Gregg Street
General Information
Standard status
Active
Size
768 SF
Property subtype
Multi Family,Multiple Detached Dwellings
Additional Details
Utilities to Site
Yes
Taxes and HOA fees
Annual Taxes
$3,012
Building Details
Building Size
768 SF
Year Built
1930
Listing Agency:
RE/MAX East
Listed By:
Melba Lara · License #415449
(713) 410-7082
Source:
Mpowerrealtygroup
Added: Jul 24
Changed: Aug 23
Last Checked: Sep 2 at 1:52AM
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
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
$10,059
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
6.71%
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%
$201,180
$201.2K
Cap Rate 7%
$143,700
$143.7K
Cap Rate 9%
$111,767
$111.8K
Market Conditions
NOI Build-Up for 768 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
$15.2K $19.80/SF
− Vacancy
−$836 −$1.09/SF
EGI
$14.4K $18.71/SF
− OpEx
−$4.3K −$5.61/SF
NOI
$10.1K $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%
$201,180
Cap Rate 7%
$143,700
Cap Rate 9%
$111,767
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
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
523
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 Street 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
