Condo Near Galleria
For Sale
$244,000
2512 Bering Dr, Houston, TX 77057
Condo leased until December 2025, near Galleria area.
Property Size1,640 SF
Lot Size4.59 Acres
Days on Market279
Property Features for 2512 Bering Dr
General Information
Standard status
Active
Size
1,640 SF
Lot size
4.59 Acres
Property subtype
Other
Building Details
Building Size
1,640 SF
Year Built
1979
Stories
2
Listing Agency:
Affinity Realty LLC
Listed By:
Carlos Perez · License #0568485
(281) 923-4900
Source:
Elliman
Added: Nov 28, 2025
Changed: Aug 14
Last Checked: Sep 1 at 10:07PM
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 Affinity Realty LLC
Investment Insights
Based on property information with market context.
This condo is located minutes from the Galleria area. The first floor features a wood-burning fireplace, an open kitchen and dining area, a walk-in pantry, and a breakfast bar. Upstairs, there are two bedrooms with wood flooring. The master bath has been renovated and includes double sinks, a tub, and a walk-in shower. The condo has natural light, walk-in closets, and a private patio that leads to a detached two-car garage. A washer and dryer are included. Residents have access to a community pool. Water and trash pick up are included. The property is leased until December 2025 and is for investors only.
Key Highlights
- Leased until Dec 2025 - ideal for investors seeking immediate returns
- Prime location near the Galleria area
- Renovated master bath features double sinks, a relaxing tub, and a separate walk‑in shower
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
$21,480
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
8.80%
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%
$429,600
$429.6K
Cap Rate 7%
$306,857
$306.9K
Cap Rate 9%
$238,667
$238.7K
Market Conditions
NOI Build-Up for 1,640 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
$32.5K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.7K $18.71/SF
− OpEx
−$9.2K −$5.61/SF
NOI
$21.5K $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%
$429,600
Cap Rate 7%
$306,857
Cap Rate 9%
$238,667
Alternative Uses
Best Use
Multifamily LT 5
$306.9K
$268.5K – $358.0K
NOI $21,480 @ 7.0% cap · market cap 8.80%
Second Best
Apartment 5plus
$265.4K
$232.3K – $309.7K
NOI $18,580 @ 7.0% cap · market cap 7.61%
Theoretical Best
Office A
$421.7K
$369.0K – $492.0K
NOI $29,520 @ 7.0% cap · market cap 12.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,249
Businesses Nearby
Explore this area
Business Placement
Demographics for 77057, TX
43,669
Population
25,231
Households
1.7
Avg Household Size
36
Median Age
53%
College-Educated
87%
High-School Grad
4.3 sq mi
ZIP Area
10,156
Density / Sq Mi
$66,200
Median Household Income
$40,419
Median Earnings
$1,354
Median Rent
$318,700
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 - Condo leased until December 2025, near Galleria area.
Where is this duplex located?
The property is located at 2512 Bering Dr Houston, TX.
What is the asking price?
The asking price for this property is $244,000.
What are key features of this property?
This property features: Leased until Dec 2025 - ideal for investors seeking immediate returns; Prime location near the Galleria area; Renovated master bath features double sinks, a relaxing tub, and a separate walk‑in shower
