Updated Duplex with Active
For Sale
$385,000
15117 & 15119 Grassington Drive, Channelview, TX 77530
Completely updated duplex features two leased units, each with two bedrooms and two bathrooms.
Property Size2,386 SF
Price / SF$161.36
Days on Market93
Property Features for 15117 & 15119 Grassington Drive
General Information
Standard status
Active
Size
2,386 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Business Included
Yes
Fenced Yard
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,565
Amenities
Engineered Hardwood,Carpet,Hardwood
Yes
2
Window Coverings
Washer Hookup,Dryer Hookup
Appraiser
Fireplace,Granite Counters,Handicap Access,Window Treatments
Partial
Subdivision
8610
More than Two
Paved
2386
Building Details
Building Size
2,386 SF
Year Built
1982
Stories
1
Listing Agency:
Texas Coastal Properties
(281) 980-5050
Listed By:
Kathryn Anderson
(281) 460-4236
Source:
Garygreene
Added: Jul 14
Changed: Oct 13
Last Checked: Oct 12 at 5:51PM
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 Coastal Properties
Investment Insights
Based on property information with market context.
This completely updated and modernized duplex includes all new finishings throughout. Each unit has two bedrooms and two bathrooms, along with a kitchen, dining area, and family room with a fireplace. Improvements include new LVT flooring, granite countertops, stainless steel appliances, newly remodeled bathrooms, new carpeting, and new backyard fencing. Both units have AC systems that were installed within the last two years, and both units are currently occupied with active signed leases.
The property is listed for sale at 15117 & 15119 Grassington Dr in Channelview, TX 77530. Walkability is limited, with a car-dependent profile, and there is no nearby transit indicated in the provided information.
For investors or owner-occupants seeking leased income, the duplex’s current occupancy status and active leases are notable, with consistent two-bedroom, two-bath layouts in both units.
The property is listed for sale at 15117 & 15119 Grassington Dr in Channelview, TX 77530. Walkability is limited, with a car-dependent profile, and there is no nearby transit indicated in the provided information.
For investors or owner-occupants seeking leased income, the duplex’s current occupancy status and active leases are notable, with consistent two-bedroom, two-bath layouts in both units.
Key Highlights
- Completely updated duplex built in 1982 with 2 leased units
- Each unit features 2 bedrooms and 2 bathrooms with kitchen, dining, and family room with fireplace
- New LVT flooring, new granite countertops, and stainless steel appliances in the kitchen
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,233
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,660
$364.7K
Cap Rate 7%
$260,471
$260.5K
Cap Rate 9%
$202,589
$202.6K
Market Conditions
NOI Build-Up for 2,386 SF
Gross rent
$28.6K $12.00/SF
− Vacancy
−$2.6K −$1.08/SF
EGI
$26.0K $10.92/SF
− OpEx
−$7.8K −$3.27/SF
NOI
$18.2K $7.64/SF
Area
Harris County, TX
Vacancy
9.03%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$364,660
Cap Rate 7%
$260,471
Cap Rate 9%
$202,589
Alternative Uses
Best Use
Multifamily LT 5
$260.5K
$227.9K – $303.9K
NOI $18,233 @ 7.0% cap · market cap 4.74%
Second Best
Apartment 5plus
$226.0K
$197.7K – $263.7K
NOI $15,819 @ 7.0% cap · market cap 4.11%
Theoretical Best
Office A
$651.5K
$570.1K – $760.1K
NOI $45,605 @ 7.0% cap · market cap 11.85%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Turnkey business
Opportunity
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
294
Businesses Nearby
Explore this area
Business Placement
Demographics for 77530, TX
35,319
Population
10,579
Households
3.3
Avg Household Size
30
Median Age
14%
College-Educated
69%
High-School Grad
13.8 sq mi
ZIP Area
2,559
Density / Sq Mi
$64,151
Median Household Income
$36,279
Median Earnings
$1,131
Median Rent
$170,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Completely updated duplex features two leased units, each with two bedrooms and two bathrooms.
Where is this duplex located?
The property is located at 15117 & 15119 Grassington Drive Channelview, TX.
What is the asking price?
The asking price for this property is $385,000.
What are key features of this property?
This property features: Completely updated duplex built in 1982 with 2 leased units; Each unit features 2 bedrooms and 2 bathrooms with kitchen, dining, and family room with fireplace; New LVT flooring, new granite countertops, and stainless steel appliances in the kitchen
