Duplex With Detached
For Sale
$375,000
231 Betral Street, Houston, TX 77022
Two independent living structures include a remodeled rear apartment and a single-story primary residence.
Property Size1,650 SF
Lot Size0.18 Acres
Days on Market12
Property Features for 231 Betral Street
General Information
Standard status
Active
Size
1,650 SF
Lot size
0.18 Acres
Property subtype
Multi Family,Multiple Detached Dwellings
Units
Unit Mix
1 x 3BR/2BA, 1 x 1BR/1BA
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$5,037
Building Details
Building Size
1,650 SF
Year Built
1940
Buildings
2
Listing Agency:
Upscale Real Estate of Texas INC
(832) 276-4636
Listed By:
Mazen Stieh · License #0551655
(832) 276-4636
Source:
Mpowerrealtygroup
Added: Aug 1
Changed: Aug 12
Last Checked: Aug 11 at 12:42PM
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 Upscale Real Estate of Texas INC
Investment Insights
Based on property information with market context.
This duplex property includes two separate, fully permitted living structures on a 7,980-square-foot lot. The primary residence is a single-story detached home with 1,350 square feet, three bedrooms, and two full bathrooms. A detached rear garage apartment adds an independent second living space with 450 square feet, one bedroom, and one bathroom; the apartment has been recently remodeled.
Built in 1940, the property is located at 231 Betral Street in Houston, Texas. The configuration provides distinct residential spaces within one property, with the apartment positioned separately behind the main home.
Built in 1940, the property is located at 231 Betral Street in Houston, Texas. The configuration provides distinct residential spaces within one property, with the apartment positioned separately behind the main home.
Key Highlights
- Two fully permitted living structures on a 7,980‑square‑foot lot
- Main residence offers 1,350 square feet with 3 bedrooms and 2 full bathrooms
- Detached rear garage apartment contains 450 square feet, 1 bedroom, and 1 bathroom
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
$21,611
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
5.76%
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%
$432,220
$432.2K
Cap Rate 7%
$308,729
$308.7K
Cap Rate 9%
$240,122
$240.1K
Market Conditions
NOI Build-Up for 1,650 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
$32.7K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.9K $18.71/SF
− OpEx
−$9.3K −$5.61/SF
NOI
$21.6K $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 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%
$432,220
Cap Rate 7%
$308,729
Cap Rate 9%
$240,122
Alternative Uses
Best Use
Multifamily LT 5
$308.7K
$270.1K – $360.2K
NOI $21,611 @ 7.0% cap · market cap 5.76%
Second Best
Apartment 5plus
$267.0K
$233.7K – $311.6K
NOI $18,693 @ 7.0% cap · market cap 4.98%
Theoretical Best
Office A
$424.3K
$371.3K – $495.0K
NOI $29,700 @ 7.0% cap · market cap 7.92%
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
756
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two independent living structures include a remodeled rear apartment and a single-story primary residence.
Where is this duplex located?
The property is located at 231 Betral Street Houston, TX.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two fully permitted living structures on a 7,980‑square‑foot lot; Main residence offers 1,350 square feet with 3 bedrooms and 2 full bathrooms; Detached rear garage apartment contains 450 square feet, 1 bedroom, and 1 bathroom
