Two-Unit Residential Income
For Sale
$498,000
2029 Oak Forest Drive A-B, Houston, TX 77018
Built in 2025, the property includes two units with electric service and a kitchen appliance package.
Property Size2,006 SF
Price / SF$248.26
Days on Market15
Property Features for 2029 Oak Forest Drive A-B
General Information
Standard status
Active
Size
2,006 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Central Northwest
Amenities
Trash, Water
Electric
Range, Disposal, Microwave, Dishwasher, Refrigerator
Building Details
Building Size
2,006 SF
Year Built
2025
Stories
3
Listing Agency:
Walzel Properties - Corporate Office
Listed By:
Tina Vu
(832) 732-9772
Source:
Evrealestate
Added: Oct 11
Changed: Oct 25
Last Checked: Oct 24 at 6:13PM
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
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Investment Insights
Based on property information with market context.
This residential income property contains two units totaling 2,006 square feet. Built in 2025, the property is configured as units A and B and includes electric service. Each unit has a range, disposal, microwave, dishwasher, and refrigerator.
The property is located at 2029 Oak Forest Drive in Houston, within Harris County.
The property is located at 2029 Oak Forest Drive in Houston, within Harris County.
Key Highlights
- Two units: A and B
- 2,006 square feet total
- Built in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,726
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$454,520
$454.5K
Cap Rate 7%
$324,657
$324.7K
Cap Rate 9%
$252,511
$252.5K
Market Conditions
NOI Build-Up for 2,006 SF
Gross rent
$44.1K $21.96/SF
− Vacancy
−$2.7K −$1.36/SF
EGI
$41.3K $20.60/SF
− OpEx
−$18.6K −$9.27/SF
NOI
$22.7K $11.33/SF
Area
Houston, TX
Vacancy
6.20%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$454,520
Cap Rate 7%
$324,657
Cap Rate 9%
$252,511
Alternative Uses
Best Use
Apartment 5plus
$324.7K
$284.1K – $378.8K
NOI $22,726 @ 7.0% cap · market cap 4.56%
Second Best
—
—
no second resolved use
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.
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Location Intelligence
Trade Area within ½ mile
2,431
Businesses Nearby
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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
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Frequently Asked Questions
What type of property is this?
Residential income property - Built in 2025, the property includes two units with electric service and a kitchen appliance package.
Where is this residential income property located?
The property is located at 2029 Oak Forest Drive 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 units: A and B; 2,006 square feet total; Built in 2025
