Updated Two-Unit
New
For Sale
$350,000
222 West Dr, League City, TX 77565
Furnished two-story property offers two one-bedroom units, modern finishes, and a spacious outdoor deck.
Property Size2,544 SF
Lot Size0.23 Acres
Days on Market5
Property Features for 222 West Dr
General Information
Standard status
Active
Size
2,544 SF
Lot size
0.23 Acres
Property subtype
Investment
Lease Term
Weekly
Units
Unit Mix
2 x 1/1
Multifamily Units
3
Additional Details
Furnished
Yes
Land Use
residential
Taxes and HOA fees
Annual Taxes
$3,823
Amenities
outdoor deck
Building Details
Building Size
2,544 SF
Year Built
1971
Buildings
2
Stories
2
Units
3
Listing Agency:
All City Real Estate
Listed By:
Hasan Yacoub · License #TX0757742
(512) 395-5017
Source:
Elliman
Added: Sep 10
Last Checked: Sep 13 at 6:55AM
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 All City Real Estate
Investment Insights
Based on property information with market context.
Located at 222 West Dr in League City, this duplex property includes a two-story building with two separate one-bedroom, one-bath units. The improvements were built in 1971 and have been updated with modern finishes. Both residences are furnished and currently operated as short-term rentals, with access to a spacious outdoor deck.
The offering also includes two adjoining 5,000 SF lots totaling approximately 10,000 SF. The second lot contains a tenant-occupied mobile home that functions as an additional income-producing unit. The property is positioned directly behind TownHarbour Estates residential development and has a 34 Bike Score and 21 Walk Score, reflecting a somewhat bikeable, car-dependent setting.
The offering also includes two adjoining 5,000 SF lots totaling approximately 10,000 SF. The second lot contains a tenant-occupied mobile home that functions as an additional income-producing unit. The property is positioned directly behind TownHarbour Estates residential development and has a 34 Bike Score and 21 Walk Score, reflecting a somewhat bikeable, car-dependent setting.
Key Highlights
- Two adjoining 5,000 SF lots totaling approximately 10,000 SF
- Two‑story building with two 1/1 units
- Updated interiors with modern finishes
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
$30,456
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
8.70%
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%
$609,120
$609.1K
Cap Rate 7%
$435,086
$435.1K
Cap Rate 9%
$338,400
$338.4K
Market Conditions
NOI Build-Up for 2,544 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
$59.2K $23.28/SF
− Vacancy
−$3.8K −$1.51/SF
EGI
$55.4K $21.77/SF
− OpEx
−$24.9K −$9.80/SF
NOI
$30.5K $11.97/SF
Area
League City, TX
Vacancy
6.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$609,120
Cap Rate 7%
$435,086
Cap Rate 9%
$338,400
Alternative Uses
Best Use
Multifamily LT 5
$472.6K
$413.6K – $551.4K
NOI $33,084 @ 7.0% cap · market cap 9.45%
Second Best
Apartment 5plus
$435.1K
$380.7K – $507.6K
NOI $30,456 @ 7.0% cap · market cap 8.70%
Theoretical Best
Office A
$773.8K
$677.1K – $902.8K
NOI $54,168 @ 7.0% cap · market cap 15.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
517
Businesses Nearby
Explore this area
Business Placement
Demographics for 77565, TX
6,966
Population
3,304
Households
2.1
Avg Household Size
47
Median Age
42%
College-Educated
95%
High-School Grad
3.6 sq mi
ZIP Area
1,935
Density / Sq Mi
$85,726
Median Household Income
$54,877
Median Earnings
$1,667
Median Rent
$376,600
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 - Furnished two-story property offers two one-bedroom units, modern finishes, and a spacious outdoor deck.
Where is this duplex located?
The property is located at 222 West Dr League City, TX.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two adjoining 5,000 SF lots totaling approximately 10,000 SF; Two‑story building with two 1/1 units; Updated interiors with modern finishes
