Duplex with Attached
For Sale
$610,000
1935 - 1937 Dewalt Street, Houston, TX 77088
Two side-by-side residences feature open interiors, quartz kitchens, gas cooking, and generous outdoor space.
Property Size3,600 SF
Price / SF$169.44
Days on Market14
Property Features for 1935 - 1937 Dewalt Street
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$1,226
Amenities
gated community
attached garage
Carpet,Plank,Tile,Vinyl
Yes
2
3
Low-Emissivity Windows
Appraiser
Quartz Counters,Ceiling Fan(s)
5750
3600
Building Details
Building Size
3,600 SF
Year Built
2026
Stories
2
Listing Agency:
Fuller Group
(713) 465-6644
Listed By:
G.G. Sourced Lead · License #724606
Source:
Garygreene
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 29 at 6:48AM
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 Fuller Group
Investment Insights
Based on property information with market context.
This 2026-built duplex at 1935–1937 Dewalt St. presents two homes side by side within a gated community. The design combines bold charcoal exteriors, distinctive rooflines, oversized windows, and an open interior arrangement with high ceilings and neutral finishes. An attached garage and large yard add practical functionality.
Inside, the kitchen serves as the central gathering space, with an oversized island, tall cabinetry, quartz countertops, and gas cooking. Abundant natural light supports the bright interior, while the clean palette allows for individual styling. The property is located in Houston, Texas, with a Walk Score of 28, a Bike Score of 41, and a Transit Score of 36.
Inside, the kitchen serves as the central gathering space, with an oversized island, tall cabinetry, quartz countertops, and gas cooking. Abundant natural light supports the bright interior, while the clean palette allows for individual styling. The property is located in Houston, Texas, with a Walk Score of 28, a Bike Score of 41, and a Transit Score of 36.
Key Highlights
- Two side‑by‑side homes in a gated community
- Built in 2026 at 1935–1937 Dewalt St.
- Oversized windows, high ceilings, and open interior layouts
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
$47,152
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
7.73%
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%
$943,040
$943.0K
Cap Rate 7%
$673,600
$673.6K
Cap Rate 9%
$523,911
$523.9K
Market Conditions
NOI Build-Up for 3,600 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
$71.3K $19.80/SF
− Vacancy
−$3.9K −$1.09/SF
EGI
$67.4K $18.71/SF
− OpEx
−$20.2K −$5.61/SF
NOI
$47.2K $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%
$943,040
Cap Rate 7%
$673,600
Cap Rate 9%
$523,911
Alternative Uses
Best Use
Multifamily LT 5
$673.6K
$589.4K – $785.9K
NOI $47,152 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$582.6K
$509.8K – $679.8K
NOI $40,785 @ 7.0% cap · market cap 6.69%
Theoretical Best
Office A
$925.7K
$810.0K – $1.08M
NOI $64,800 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
Demographics for 77088, TX
54,320
Population
18,500
Households
2.9
Avg Household Size
35
Median Age
13%
College-Educated
72%
High-School Grad
11.1 sq mi
ZIP Area
4,894
Density / Sq Mi
$52,549
Median Household Income
$32,015
Median Earnings
$1,177
Median Rent
$173,900
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 - Two side-by-side residences feature open interiors, quartz kitchens, gas cooking, and generous outdoor space.
Where is this duplex located?
The property is located at 1935 - 1937 Dewalt Street Houston, TX.
What is the asking price?
The asking price for this property is $610,000.
What are key features of this property?
This property features: Two side‑by‑side homes in a gated community; Built in 2026 at 1935–1937 Dewalt St.; Oversized windows, high ceilings, and open interior layouts
