Two-Unit Duplex with Private
For Sale
$489,900
1510 E 31st Street, Houston, TX 77022
Two full-floor residences offer separate living areas and en-suite primary bedrooms.
Property Size2,736 SF
Price / SF$179.06
Days on Market16
Property Features for 1510 E 31st Street
General Information
Standard status
Active
Size
2,736 SF
Property subtype
Multi Family,Duplex
Site & Location
Neighborhood
Independence Heights
Highway Access
Yes
Additional Details
Multifamily Units
2
Amenities
Low-E windows
fully fenced perimeter
controlled driveway gate
Building Details
Building Size
2,736 SF
Year Built
2024
Buildings
1
Stories
2
Listing Agency:
Coldwell Banker Realty - Bellaire-Metropolitan
Listed By:
Samuel Allison
(832) 715-9266
Source:
Bethwolff
Added: Oct 15
Changed: Oct 27
Last Checked: Oct 26 at 3:06PM
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 Coldwell Banker Realty - Bellaire-Metropolitan
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Investment Insights
Based on property information with market context.
Built in 2024, this 2,736-square-foot duplex is arranged as two stacked, full-floor flats rather than side-by-side units. Each residence has an open-concept layout, quartz countertops, soft-close cabinetry, pendant lighting, and a custom range hood. The split-floor configuration provides separation between the two homes. Each flat includes a primary suite with an en-suite bath, and a separate powder room serves guests. Low-E windows, a fenced perimeter, and a controlled driveway gate are also part of the property; there is no HOA.
The property is in Houston, with access to I-45 and Loop 610. The Houston Farmers Market, Whole Foods, H-E-B, and Heights dining are each described as under five minutes away.
The property is in Houston, with access to I-45 and Loop 610. The Houston Farmers Market, Whole Foods, H-E-B, and Heights dining are each described as under five minutes away.
Key Highlights
- 2,736‑square‑foot duplex built in 2024
- Two stacked full‑floor flats, with no shared living walls
- Each residence has a primary suite and en‑suite bath
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,835
Cap Rate
7.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$716,700
$716.7K
Cap Rate 7%
$511,929
$511.9K
Cap Rate 9%
$398,167
$398.2K
Market Conditions
NOI Build-Up for 2,736 SF
Gross rent
$54.2K $19.80/SF
− Vacancy
−$3.0K −$1.09/SF
EGI
$51.2K $18.71/SF
− OpEx
−$15.4K −$5.61/SF
NOI
$35.8K $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%
$716,700
Cap Rate 7%
$511,929
Cap Rate 9%
$398,167
Alternative Uses
Best Use
Multifamily LT 5
$511.9K
$447.9K – $597.3K
NOI $35,835 @ 7.0% cap · market cap 7.31%
Second Best
Apartment 5plus
$442.8K
$387.5K – $516.6K
NOI $30,997 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$703.5K
$615.6K – $820.8K
NOI $49,248 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
675
Businesses Nearby
Explore this area
Business Placement
Demographics for 77022, TX
28,748
Population
10,717
Households
2.7
Avg Household Size
35
Median Age
13%
College-Educated
63%
High-School Grad
5.8 sq mi
ZIP Area
4,957
Density / Sq Mi
$48,386
Median Household Income
$28,877
Median Earnings
$1,047
Median Rent
$197,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two full-floor residences offer separate living areas and en-suite primary bedrooms.
Where is this duplex located?
The property is located at 1510 E 31st Street Houston, TX.
What is the asking price?
The asking price for this property is $489,900.
What are key features of this property?
This property features: 2,736‑square‑foot duplex built in 2024; Two stacked full‑floor flats, with no shared living walls; Each residence has a primary suite and en‑suite bath
