Furnished
1508 Ridgewood Street, Houston, TX 77006
For Sale
$798,000
The furnished property is configured as an Airbnb duplex with updated interior finishes and building systems.
Property Size2,464 SF
Price / SF$323.86
Days on Market153
Property Features for 1508 Ridgewood Street
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Furnished
Multifamily Units
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Texas Signature Realty
Listed By:
Ryan Bacchus
(346) 210-8210
Source:
Turnermangum
Added: Jun 10
Changed: Nov 9
Last Checked: Nov 9 at 7:44PM
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 Texas Signature Realty
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Investment Insights
Based on property information with market context.
This 2,464-square-foot duplex was built in 1938 and is offered furnished for Airbnb use. A substantial interior rebuild included new sheetrock, engineered wood flooring, designer finishes, plumbing, electrical, HVAC, and appliances; the roof was repaired.
The property at 1508 Ridgewood Street is directly opposite tennis courts and a softball field. Dining and shopping are within walking distance.
The property at 1508 Ridgewood Street is directly opposite tennis courts and a softball field. Dining and shopping are within walking distance.
Key Highlights
- 2,464‑square‑foot duplex, built in 1938
- Furnished and used as an Airbnb
- Interior rebuild included plumbing, electrical, HVAC, appliances, sheetrock, and engineered wood floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,273
Cap Rate
4.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$645,460
$645.5K
Cap Rate 7%
$461,043
$461.0K
Cap Rate 9%
$358,589
$358.6K
Market Conditions
NOI Build-Up for 2,464 SF
Gross rent
$48.8K $19.80/SF
− Vacancy
−$2.7K −$1.09/SF
EGI
$46.1K $18.71/SF
− OpEx
−$13.8K −$5.61/SF
NOI
$32.3K $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 Rate 5%
$645,460
Cap Rate 7%
$461,043
Cap Rate 9%
$358,589
Alternative Uses
Best Use
Multifamily LT 5
$461.0K
$403.4K – $537.9K
NOI $32,273 @ 7.0% cap · market cap 4.04%
Second Best
Apartment 5plus
$398.8K
$348.9K – $465.3K
NOI $27,915 @ 7.0% cap · market cap 3.50%
Theoretical Best
Office A
$633.6K
$554.4K – $739.2K
NOI $44,352 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,741
Businesses Nearby
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Business Placement
Demographics for 77006, TX
24,129
Population
16,654
Households
1.4
Avg Household Size
36
Median Age
80%
College-Educated
98%
High-School Grad
2.3 sq mi
ZIP Area
10,491
Density / Sq Mi
$102,003
Median Household Income
$73,275
Median Earnings
$1,761
Median Rent
$599,500
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Houston, TX
Properties on Market for Duplexes in Houston
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The furnished property is configured as an Airbnb duplex with updated interior finishes and building systems.
Where is this duplex located?
The property is located at 1508 Ridgewood Street Houston, TX.
What is the asking price?
The asking price for this property is $798,000.
What are key features of this property?
This property features: 2,464‑square‑foot duplex, built in 1938; Furnished and used as an Airbnb; Interior rebuild included plumbing, electrical, HVAC, appliances, sheetrock, and engineered wood floors
