Side-by-Side Duplex with
For Sale
$950,000
1632 Kipling Street, Houston, TX 77006
Two attached rental units accompany a separate apartment with enclosed porch and deck areas.
Property Size3,920 SF
Days on Market64
Property Features for 1632 Kipling Street
General Information
Standard status
Active
Size
3,920 SF
Property subtype
Multi Family,Multiple Detached Dwellings
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$19,977
Building Details
Building Size
3,920 SF
Year Built
1930
Listing Agency:
Creekview Realty
Listed By:
John Prell · License #0493630
(281) 444-7071
Source:
Nancyalmodovar
Added: Aug 11
Changed: Oct 11
Last Checked: Oct 13 at 12:05AM
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 Creekview Realty
Investment Insights
Based on property information with market context.
This 1930-built duplex property includes two side-by-side units, each offering 2 bedrooms and 1.5 bathrooms. Oak flooring extends through the duplex, and each residence has an enclosed front porch. A separate 2/2 apartment adds concrete flooring on the lower level, wood flooring above, and an oversized deck.
The property is located on Kipling St in Houston’s Montrose area, within blocks of HEB, dining, and shopping. WalkScore is 79, with a BikeScore of 55 and TransitScore of 48. The location also offers access to Downtown, the Medical Center, and Memorial. The property is deed restricted and zoned to schools.
The property is located on Kipling St in Houston’s Montrose area, within blocks of HEB, dining, and shopping. WalkScore is 79, with a BikeScore of 55 and TransitScore of 48. The location also offers access to Downtown, the Medical Center, and Memorial. The property is deed restricted and zoned to schools.
Key Highlights
- Separate 2/2 apartment with concrete floors downstairs, wood floors upstairs, and an oversized deck
- Side‑by‑side duplex configuration with two 2‑bedroom, 1.5‑bathroom units
- Oak floors throughout the duplex units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,343
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,026,860
$1.0M
Cap Rate 7%
$733,471
$733.5K
Cap Rate 9%
$570,478
$570.5K
Market Conditions
NOI Build-Up for 3,920 SF
Gross rent
$77.6K $19.80/SF
− Vacancy
−$4.3K −$1.09/SF
EGI
$73.3K $18.71/SF
− OpEx
−$22.0K −$5.61/SF
NOI
$51.3K $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%
$1,026,860
Cap Rate 7%
$733,471
Cap Rate 9%
$570,478
Alternative Uses
Best Use
Multifamily LT 5
$733.5K
$641.8K – $855.7K
NOI $51,343 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$634.4K
$555.1K – $740.2K
NOI $44,410 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$1.01M
$882.0K – $1.18M
NOI $70,560 @ 7.0% cap · market cap 7.43%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,147
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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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 - Two attached rental units accompany a separate apartment with enclosed porch and deck areas.
Where is this duplex located?
The property is located at 1632 Kipling Street Houston, TX.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Separate 2/2 apartment with concrete floors downstairs, wood floors upstairs, and an oversized deck; Side‑by‑side duplex configuration with two 2‑bedroom, 1.5‑bathroom units; Oak floors throughout the duplex units
