Montrose Duplex with Garage
For Sale
$885,000
1912 Ridgewood Street, Houston, TX 77006
Charming Montrose duplex with garage apartment, great location.
Property Size2,124 SF
Price / SF$416.67
Days on Market214
Property Features for 1912 Ridgewood Street
General Information
Standard status
Active
Size
2,124 SF
Property subtype
Multi-Family
Site & Location
Neighborhood
Neartown - Montrose
Taxes and HOA fees
Annual Taxes
$16,104
Amenities
Hardwood
Yes
1
2
Appraiser
Balcony
5000
One
Carport
2124
Building Details
Building Size
2,124 SF
Year Built
1935
Stories
2
Listing Agency:
Keller Williams Memorial
(713) 461-9393
Listed By:
Joseph Licata
(713) 298-0963
Source:
Garygreene
Added: Apr 7
Changed: Nov 4
Last Checked: Nov 4 at 11:40AM
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 Keller Williams Memorial
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Investment Insights
Based on property information with market context.
This charming Montrose duplex includes a separate garage apartment. According to HCAD, the garage apartment has approximately 766 square feet. Each unit features an outdoor space and separate parking. The property provides four parking spaces, including two carport spaces and two additional spaces. All units have central air conditioning and heat. The main house was remodeled in 2015. The property is conveniently located within walking distance of restaurants and cafes, and offers an easy commute to Downtown, the Medical Center, Memorial, and Galleria areas. The main house contains two units that are almost identical in size and finishes. The location is very bikeable with a bike score of 77 and very walkable with a walk score of 90. The transit score is 66, indicating good transit options.
Key Highlights
- Excellent Location: Walkable to restaurants/cafes; easy commute to Downtown, Medical Center, Memorial, and Galleria.
- Income Potential: Montrose duplex with separate garage apartment.
- Multiple Parking Spaces: Includes 2 carport spaces and 2 additional spaces.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,820
Cap Rate
3.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$556,400
$556.4K
Cap Rate 7%
$397,429
$397.4K
Cap Rate 9%
$309,111
$309.1K
Market Conditions
NOI Build-Up for 2,124 SF
Gross rent
$42.1K $19.80/SF
− Vacancy
−$2.3K −$1.09/SF
EGI
$39.7K $18.71/SF
− OpEx
−$11.9K −$5.61/SF
NOI
$27.8K $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%
$556,400
Cap Rate 7%
$397,429
Cap Rate 9%
$309,111
Alternative Uses
Best Use
Multifamily LT 5
$397.4K
$347.8K – $463.7K
NOI $27,820 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$343.8K
$300.8K – $401.1K
NOI $24,063 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$546.2K
$477.9K – $637.2K
NOI $38,232 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
3,051
Businesses Nearby
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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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Charming Montrose duplex with garage apartment, great location.
Where is this duplex located?
The property is located at 1912 Ridgewood Street Houston, TX.
What is the asking price?
The asking price for this property is $885,000.
What are key features of this property?
This property features: Excellent Location: Walkable to restaurants/cafes; easy commute to Downtown, Medical Center, Memorial, and Galleria.; Income Potential: Montrose duplex with separate garage apartment.; Multiple Parking Spaces: Includes 2 carport spaces and 2 additional spaces.
