Two-Unit Residential Income
For Sale
$299,000
1610 Hazelwood Street, Conroe, TX 77301
Well-kept duplex with two rented 2-bedroom, 2-bath units, each with garage space and private backyard.
Property Size2,383 SF
Price / SF$125.47
Days on Market57
Property Features for 1610 Hazelwood Street
General Information
Standard status
Active
Size
2,383 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$3,128
Amenities
Tile
Yes
2
Washer Hookup,Dryer Hookup
Appraiser
8882
Two
Garage
2383
Building Details
Building Size
2,383 SF
Year Built
1978
Stories
1
Tenancy
Multi
Listing Agency:
Reeve Real Estate LLC
(281) 367-3531
Listed By:
Nicole Boyde
(281) 814-9331
Source:
Garygreene
Added: Jul 8
Changed: Aug 31
Last Checked: Sep 1 at 3:02PM
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 Reeve Real Estate LLC
Investment Insights
Based on property information with market context.
This duplex consists of two separate residential units, each offering two bedrooms and two bathrooms. The layout features a spacious open floor plan connecting the kitchen, breakfast room, and family room. Each unit includes washer and dryer hook-ups, along with bedrooms that have walk-in closets and ceiling fans. Both units are currently rented and described as well kept, and each unit is provided with its own one-car garage space and a private backyard.
The property is located at 1610 Hazelwood Street in Conroe, Texas, and is presented for sale as either an investment purchase or owner-occupied opportunity.
From a tenant-ready configuration standpoint, each unit includes in-unit laundry hook-ups, private outdoor space, and dedicated parking via its own garage space.
The property is located at 1610 Hazelwood Street in Conroe, Texas, and is presented for sale as either an investment purchase or owner-occupied opportunity.
From a tenant-ready configuration standpoint, each unit includes in-unit laundry hook-ups, private outdoor space, and dedicated parking via its own garage space.
Key Highlights
- Duplex built in 1978 with 2 units, each offering 2 bedrooms and 2 bathrooms
- Both units include washer/dryer hookups and are currently rented
- Each unit has its own one‑car garage space and private backyard
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
$26,577
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
8.89%
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%
$531,540
$531.5K
Cap Rate 7%
$379,671
$379.7K
Cap Rate 9%
$295,300
$295.3K
Market Conditions
NOI Build-Up for 2,383 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
$40.6K $17.04/SF
− Vacancy
−$2.6K −$1.11/SF
EGI
$38.0K $15.93/SF
− OpEx
−$11.4K −$4.78/SF
NOI
$26.6K $11.15/SF
Area
Montgomery County, TX
Vacancy
6.50%
Lease Rate
$17.04 /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%
$531,540
Cap Rate 7%
$379,671
Cap Rate 9%
$295,300
Alternative Uses
Best Use
Multifamily LT 5
$379.7K
$332.2K – $443.0K
NOI $26,577 @ 7.0% cap · market cap 8.89%
Second Best
Apartment 5plus
$357.7K
$313.0K – $417.3K
NOI $25,038 @ 7.0% cap · market cap 8.37%
Theoretical Best
Specialty Retail
$601.6K
$526.4K – $701.9K
NOI $42,112 @ 7.0% cap · market cap 14.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
261
Businesses Nearby
Explore this area
Business Placement
Demographics for 77301, TX
35,923
Population
12,854
Households
2.8
Avg Household Size
32
Median Age
21%
College-Educated
75%
High-School Grad
20.2 sq mi
ZIP Area
1,778
Density / Sq Mi
$64,885
Median Household Income
$35,575
Median Earnings
$1,229
Median Rent
$193,500
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 - Well-kept duplex with two rented 2-bedroom, 2-bath units, each with garage space and private backyard.
Where is this duplex located?
The property is located at 1610 Hazelwood Street Conroe, TX.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Duplex built in 1978 with 2 units, each offering 2 bedrooms and 2 bathrooms; Both units include washer/dryer hookups and are currently rented; Each unit has its own one‑car garage space and private backyard
