Two-Story Duplex with Fourplex
New
For Sale
$1,050,000
1703 Albans Road, Houston, TX 77005
Income-producing residential property with two-bedroom, two-bathroom units and a shared entry foyer.
Property Size3,422 SF
Days on Market2
Property Features for 1703 Albans Road
General Information
Standard status
Active
Size
3,422 SF
Property subtype
Multi Family,Quadruplex
Site & Location
Road Access
Yes
Utilities to Site
Yes
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$19,603
Building Details
Building Size
3,422 SF
Year Built
1945
Buildings
1
Listing Agency:
Compean Group
Listed By:
Evan Compean · License #0617930
(832) 777-3904
Source:
Nancyalmodovar
Added: Sep 9
Changed: Sep 10
Last Checked: Sep 9 at 10:00PM
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 Compean Group
Investment Insights
Based on property information with market context.
Located at 1703 Albans Road in Houston’s Southampton area, this duplex contains two residential units, each arranged across two floors with two bedrooms and two bathrooms. The building dates to 1945 and is configured for residential occupancy or owner use.
A shared foyer provides four entry doors, reflecting the property’s earlier four-plex layout. The current configuration could be converted back to four 1/1 units, subject to applicable requirements. Four electrical meters and one water meter serve the property. The home is positioned on a low-traffic street and offers access to the residential income market described for the property.
A shared foyer provides four entry doors, reflecting the property’s earlier four-plex layout. The current configuration could be converted back to four 1/1 units, subject to applicable requirements. Four electrical meters and one water meter serve the property. The home is positioned on a low-traffic street and offers access to the residential income market described for the property.
Key Highlights
- Two duplex units with 2 bedrooms and 2 bathrooms per unit
- Each unit is arranged across 2 floors
- Former four‑plex with potential conversion to four 1/1 units
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
$44,820
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
4.27%
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%
$896,400
$896.4K
Cap Rate 7%
$640,286
$640.3K
Cap Rate 9%
$498,000
$498.0K
Market Conditions
NOI Build-Up for 3,422 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
$67.8K $19.80/SF
− Vacancy
−$3.7K −$1.09/SF
EGI
$64.0K $18.71/SF
− OpEx
−$19.2K −$5.61/SF
NOI
$44.8K $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 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%
$896,400
Cap Rate 7%
$640,286
Cap Rate 9%
$498,000
Alternative Uses
Best Use
Multifamily LT 5
$640.3K
$560.3K – $747.0K
NOI $44,820 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$553.8K
$484.6K – $646.1K
NOI $38,768 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$879.9K
$770.0K – $1.03M
NOI $61,596 @ 7.0% cap · market cap 5.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,238
Businesses Nearby
Explore this area
Business Placement
Demographics for 77005, TX
28,241
Population
10,564
Households
2.7
Avg Household Size
36
Median Age
88%
College-Educated
98%
High-School Grad
3.8 sq mi
ZIP Area
7,432
Density / Sq Mi
$215,708
Median Household Income
$100,839
Median Earnings
$2,058
Median Rent
$1,354,300
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 - Income-producing residential property with two-bedroom, two-bathroom units and a shared entry foyer.
Where is this duplex located?
The property is located at 1703 Albans Road Houston, TX.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: Two duplex units with 2 bedrooms and 2 bathrooms per unit; Each unit is arranged across 2 floors; Former four‑plex with potential conversion to four 1/1 units
