Modern Two-Unit
For Sale
$498,000
2023 Oak Forest Dr A-B, Houston, TX 77018
The two residences offer separate bedroom and bathroom configurations, with garage access and private outdoor space.
Property Size2,006 SF
Days on Market16
Property Features for 2023 Oak Forest Dr A-B
General Information
Standard status
Active
Size
2,006 SF
Property subtype
Investment
Site & Location
Neighborhood
Central Northwest
Units
Unit Mix
1 x 2BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Amenities
garage
covered parking
backyard
gated community
green space
ceiling fans
Building Details
Building Size
2,006 SF
Year Built
2025
Buildings
1
Stories
3
Units
2
Listing Agency:
Walzel Properties - Corporate Office
Listed By:
Tina Vu
(832) 732-9772
Source:
Elliman
Added: Oct 11
Changed: Oct 25
Last Checked: Oct 24 at 6:16PM
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 Walzel Properties - Corporate Office
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Under construction, this duplex is planned with two distinct residences: one with two bedrooms and two bathrooms, and another with one bedroom and one bathroom. The property includes a garage, covered parking, and a backyard. Interior details include 10-foot ceilings, island kitchens, plank flooring, and quartz counters, along with a full appliance package and window blinds. Bathroom finishes include subway and hex tile; the floors are carpet-free.
The development also features gated access and shared green space. WalkScore is 72, BikeScore is 52, and TransitScore is 40. The property is located at 2023 Oak Forest Dr in Houston, and the stated year built is 2025.
The development also features gated access and shared green space. WalkScore is 72, BikeScore is 52, and TransitScore is 40. The property is located at 2023 Oak Forest Dr in Houston, and the stated year built is 2025.
Key Highlights
- Two residences: one 2‑bedroom/2‑bathroom unit and one 1‑bedroom/1‑bathroom unit
- Under construction; year built 2025
- Garage, covered parking, and backyard
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,274
Cap Rate
5.28%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$525,480
$525.5K
Cap Rate 7%
$375,343
$375.3K
Cap Rate 9%
$291,933
$291.9K
Market Conditions
NOI Build-Up for 2,006 SF
Gross rent
$39.7K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$37.5K $18.71/SF
− OpEx
−$11.3K −$5.61/SF
NOI
$26.3K $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%
$525,480
Cap Rate 7%
$375,343
Cap Rate 9%
$291,933
Alternative Uses
Best Use
Multifamily LT 5
$375.3K
$328.4K – $437.9K
NOI $26,274 @ 7.0% cap · market cap 5.28%
Second Best
Apartment 5plus
$324.7K
$284.1K – $378.8K
NOI $22,726 @ 7.0% cap · market cap 4.56%
Theoretical Best
Office A
$515.8K
$451.4K – $601.8K
NOI $36,108 @ 7.0% cap · market cap 7.25%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,431
Businesses Nearby
Explore this area
Business Placement
Demographics for 77018, TX
27,870
Population
13,335
Households
2.1
Avg Household Size
38
Median Age
60%
College-Educated
92%
High-School Grad
6.8 sq mi
ZIP Area
4,099
Density / Sq Mi
$121,658
Median Household Income
$75,487
Median Earnings
$1,256
Median Rent
$543,800
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 - The two residences offer separate bedroom and bathroom configurations, with garage access and private outdoor space.
Where is this duplex located?
The property is located at 2023 Oak Forest Dr A-B Houston, TX.
What is the asking price?
The asking price for this property is $498,000.
What are key features of this property?
This property features: Two residences: one 2‑bedroom/2‑bathroom unit and one 1‑bedroom/1‑bathroom unit; Under construction; year built 2025; Garage, covered parking, and backyard
