Two-Unit Duplex with Modern
New
For Sale
$598,000
2509 S Grand Boulevard, Pearland, TX 77581
Both residences have long-term leases and separate parking for two vehicles.
Property Size3,000 SF
Days on Market4
Property Features for 2509 S Grand Boulevard
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Multi Family,Duplex
Units
Unit Mix
2 x 3BR/2.5BA
Multifamily Units
2
Parking per Unit
2
Taxes and HOA fees
Annual Taxes
$9,846
Amenities
gas appliances
quartz countertops
dual pane windows
tankless water heater
wired alarms
2" blinds
spray foam insulation
utility with gas and electric hookups
Building Details
Building Size
3,000 SF
Year Built
2020
Listing Agency:
Texas General Realty, Inc.
Listed By:
Kris Paul · License #422838
(713) 205-1303
Source:
Livingvoguerealestate
Added: Oct 19
Changed: Oct 21
Last Checked: Oct 21 at 2:19AM
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 Texas General Realty, Inc.
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Investment Insights
Based on property information with market context.
Built in 2020, this duplex contains two side-by-side residences, each with three bedrooms and 2.5 baths. Interior features include quartz countertops, gas appliances, dual-pane windows, and spacious living areas. The primary bedroom and bath are on the second floor, alongside a utility area with gas and electric hookups. Tankless water heaters, wired alarms, two-inch blinds, and spray foam insulation are also included.
Each unit has two parking spaces. The property is within the Pearland school district, and both units have long-term leases in place. Showings are limited to drive-by viewing to respect tenant privacy.
Each unit has two parking spaces. The property is within the Pearland school district, and both units have long-term leases in place. Showings are limited to drive-by viewing to respect tenant privacy.
Key Highlights
- Two side‑by‑side units, each with 3 bedrooms and 2.5 baths
- Built in 2020
- Long‑term leases in place for both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,877
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,540
$777.5K
Cap Rate 7%
$555,386
$555.4K
Cap Rate 9%
$431,967
$432.0K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$59.4K $19.80/SF
− Vacancy
−$3.9K −$1.29/SF
EGI
$55.5K $18.51/SF
− OpEx
−$16.7K −$5.55/SF
NOI
$38.9K $12.96/SF
Area
Pearland, TX
Vacancy
6.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$777,540
Cap Rate 7%
$555,386
Cap Rate 9%
$431,967
Alternative Uses
Best Use
Multifamily LT 5
$555.4K
$486.0K – $648.0K
NOI $38,877 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$495.6K
$433.7K – $578.2K
NOI $34,693 @ 7.0% cap · market cap 5.80%
Theoretical Best
Warehouse
$586.3K
$513.0K – $684.0K
NOI $41,042 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,088
Businesses Nearby
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Business Placement
Demographics for 77581, TX
49,198
Population
18,285
Households
2.7
Avg Household Size
38
Median Age
36%
College-Educated
94%
High-School Grad
24.6 sq mi
ZIP Area
2,000
Density / Sq Mi
$106,556
Median Household Income
$62,887
Median Earnings
$1,591
Median Rent
$309,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences have long-term leases and separate parking for two vehicles.
Where is this duplex located?
The property is located at 2509 S Grand Boulevard Pearland, TX.
What is the asking price?
The asking price for this property is $598,000.
What are key features of this property?
This property features: Two side‑by‑side units, each with 3 bedrooms and 2.5 baths; Built in 2020; Long‑term leases in place for both residences
