New-Construction Duplex with Private
New
For Sale
$450,000
Pending
2006 Vince St, Pasadena, TX 77502
Two-bedroom residences feature contemporary finishes, fenced outdoor space, and practical layouts for comfortable occupancy.
Property Size2,090 SF
Days on Market4
Property Features for 2006 Vince St
General Information
Standard status
Pending
Size
2,090 SF
Property subtype
Investment
Lease Term
12 months
Units
Unit Mix
2 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,853
Amenities
private patio
fully fenced backyard
Building Details
Building Size
2,090 SF
Year Built
2026
Buildings
1
Stories
1
Units
2
Listing Agency:
VIVE REALTY LLC
(832) 377-9770
Listed By:
Maria Lopez · License #735422
(832) 377-9770
Source:
Elliman
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 11 at 9:33AM
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 VIVE REALTY LLC
Investment Insights
Based on property information with market context.
Under construction for completion in 2026, this duplex includes two residences with two bedrooms and two full bathrooms each. The interiors are planned with high ceilings, porcelain kitchen countertops, white cabinetry, and quartz bathroom countertops. Each unit also includes a private patio and a fully fenced backyard.
The property is located at 2006 Vince St in Pasadena, Texas. Walk Score is 39, indicating a car-dependent setting; Bike Score is 47, categorized as somewhat bikeable, and Transit Score is 12, reflecting minimal transit access. The two-unit configuration offers residential space with rental potential.
The property is located at 2006 Vince St in Pasadena, Texas. Walk Score is 39, indicating a car-dependent setting; Bike Score is 47, categorized as somewhat bikeable, and Transit Score is 12, reflecting minimal transit access. The two-unit configuration offers residential space with rental potential.
Key Highlights
- Two‑unit duplex under construction with 2026 year built
- Each unit includes 2 bedrooms and 2 full bathrooms
- Porcelain kitchen countertops, white cabinetry, and quartz bathroom countertops
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
$23,802
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
5.29%
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%
$476,040
$476.0K
Cap Rate 7%
$340,029
$340.0K
Cap Rate 9%
$264,467
$264.5K
Market Conditions
NOI Build-Up for 2,090 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
$36.4K $17.40/SF
− Vacancy
−$2.4K −$1.13/SF
EGI
$34.0K $16.27/SF
− OpEx
−$10.2K −$4.88/SF
NOI
$23.8K $11.39/SF
Area
Pasadena, TX
Vacancy
6.50%
Lease Rate
$17.40 /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%
$476,040
Cap Rate 7%
$340,029
Cap Rate 9%
$264,467
Alternative Uses
Best Use
Multifamily LT 5
$340.0K
$297.5K – $396.7K
NOI $23,802 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$305.6K
$267.4K – $356.6K
NOI $21,394 @ 7.0% cap · market cap 4.75%
Theoretical Best
Office A
$689.7K
$603.5K – $804.7K
NOI $48,281 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
Explore this area
Business Placement
Demographics for 77502, TX
37,495
Population
11,813
Households
3.2
Avg Household Size
32
Median Age
10%
College-Educated
64%
High-School Grad
5.5 sq mi
ZIP Area
6,817
Density / Sq Mi
$59,337
Median Household Income
$32,162
Median Earnings
$1,185
Median Rent
$164,500
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 - Two-bedroom residences feature contemporary finishes, fenced outdoor space, and practical layouts for comfortable occupancy.
Where is this duplex located?
The property is located at 2006 Vince St Pasadena, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Two‑unit duplex under construction with 2026 year built; Each unit includes 2 bedrooms and 2 full bathrooms; Porcelain kitchen countertops, white cabinetry, and quartz bathroom countertops
