Updated Duplex with Enclosed
For Sale
$360,000
215 Caplin Street, Houston, TX 77022
Two separately configured residences with permitted plumbing and electrical upgrades, plus flexible rental and occupancy options.
Property Size2,240 SF
Price / SF$160.71
Days on Market50
Property Features for 215 Caplin Street
General Information
Standard status
Active
Size
2,240 SF
Property subtype
Residential Income / Duplex
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$6,475
Amenities
private enclosed courtyard
Two
Central Air, Electric, Gas, Other, Window Units
Central, Electric, Gas, Window Unit
2
Laminate, Tile
Dishwasher, Disposal, Microwave, Refrigerator
Yes
Composition
No
Wood Siding
Building Details
Year Built
1950
Buildings
1
Listing Agency:
Compass
Listed By:
Laura Miranda · License #0648081
(281) 509-3604
Source:
Compass
Added: Aug 19
Changed: Oct 6
Last Checked: Oct 5 at 8:32PM
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 Compass
Investment Insights
Based on property information with market context.
This updated duplex contains two distinct residences: a 2-bedroom, 1-bath unit and a 2-bedroom, 2-bath unit. The upstairs residence is leased on a one-year term, while the downstairs unit is operated as an Airbnb and available for showings. The property also includes a private enclosed courtyard for additional outdoor space.
Capital improvements include replacement plumbing extending from the main sewer line to the slab and throughout the interior, along with a complete electrical rewire. Both scopes were fully permitted. Located in Houston, the property is minutes from Downtown with access to 610 and the light rail.
Capital improvements include replacement plumbing extending from the main sewer line to the slab and throughout the interior, along with a complete electrical rewire. Both scopes were fully permitted. Located in Houston, the property is minutes from Downtown with access to 610 and the light rail.
Key Highlights
- Two‑unit configuration with 2‑bedroom, 1‑bath and 2‑bedroom, 2‑bath residences
- Upstairs unit leased on a one‑year lease
- Downstairs unit operated as an Airbnb and available for showings
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,339
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,780
$586.8K
Cap Rate 7%
$419,129
$419.1K
Cap Rate 9%
$325,989
$326.0K
Market Conditions
NOI Build-Up for 2,240 SF
Gross rent
$44.4K $19.80/SF
− Vacancy
−$2.4K −$1.09/SF
EGI
$41.9K $18.71/SF
− OpEx
−$12.6K −$5.61/SF
NOI
$29.3K $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%
$586,780
Cap Rate 7%
$419,129
Cap Rate 9%
$325,989
Alternative Uses
Best Use
Multifamily LT 5
$419.1K
$366.7K – $489.0K
NOI $29,339 @ 7.0% cap · market cap 8.15%
Second Best
Apartment 5plus
$362.5K
$317.2K – $423.0K
NOI $25,377 @ 7.0% cap · market cap 7.05%
Theoretical Best
Office A
$576.0K
$504.0K – $672.0K
NOI $40,320 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
525
Businesses Nearby
Explore this area
Business Placement
Demographics for 77022, TX
28,748
Population
10,717
Households
2.7
Avg Household Size
35
Median Age
13%
College-Educated
63%
High-School Grad
5.8 sq mi
ZIP Area
4,957
Density / Sq Mi
$48,386
Median Household Income
$28,877
Median Earnings
$1,047
Median Rent
$197,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences with permitted plumbing and electrical upgrades, plus flexible rental and occupancy options.
Where is this duplex located?
The property is located at 215 Caplin Street Houston, TX.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Two‑unit configuration with 2‑bedroom, 1‑bath and 2‑bedroom, 2‑bath residences; Upstairs unit leased on a one‑year lease; Downstairs unit operated as an Airbnb and available for showings
