1920s Duplex Bungalow on Corner
For Sale
$675,000
2621 & 2623 Beauchamp Street, Houston, TX 77009
Two 1-bedroom units each include living, dining, and kitchen space, with original hardwood floors and a dedicated parking pad.
Property Size1,620 SF
Lot Size0.15 Acres
Price / SF$416.67
Days on Market189
Property Features for 2621 & 2623 Beauchamp Street
General Information
Standard status
Active
Size
1,620 SF
Lot size
0.15 Acres
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$14,345
Amenities
Tile,Wood,Hardwood
Yes
1
Window Coverings
Common Area,Washer Hookup,Dryer Hookup
Appraiser
Window Treatments
Corner Lot,Near Public Transit
6600
One
Paved
Private Entrance
1620
Building Details
Building Size
1,620 SF
Year Built
1920
Stories
1
Tenancy
Multi
Listing Agency:
Coldwell Banker TGRE
(281) 444-5140
Listed By:
Mimi Tanner
(281) 825-6892
Source:
Garygreene
Added: Mar 5
Changed: Sep 9
Last Checked: Sep 9 at 6:34AM
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 Coldwell Banker TGRE
Investment Insights
Based on property information with market context.
This 1920s duplex bungalow is set on a non-historic 6,600-square-foot corner lot and offers flexible residential income configuration. The property includes two units, each with approximately 810 SF and 1 bedroom, 1 full bath, living room, dining room, and kitchen. The front living room could serve as a second bedroom, allowing for a more versatile layout. Both residences feature original hardwood floors, and a new roof has been added for added peace of mind.
The home is located on a Heights street surrounded by new construction and updated homes. It is walkable to Travis Elementary and is one block from the White Oak hike and bike trail, supporting convenient everyday access.
The property includes a dedicated parking pad and presents options for investors, builders, or end-users, including the ability to design plans for new construction or reconfigure the site as a single-family home, as it was previously configured before becoming a duplex.
The home is located on a Heights street surrounded by new construction and updated homes. It is walkable to Travis Elementary and is one block from the White Oak hike and bike trail, supporting convenient everyday access.
The property includes a dedicated parking pad and presents options for investors, builders, or end-users, including the ability to design plans for new construction or reconfigure the site as a single-family home, as it was previously configured before becoming a duplex.
Key Highlights
- 1920s duplex bungalow on a 6,600 SF corner lot in the Heights
- Two 1‑bedroom, 1‑bath units; each unit has living room, dining room, and kitchen (approx. 810 SF per unit)
- Original hardwood floors in both residences; front living room could serve as a second bedroom
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
$21,218
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
3.14%
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%
$424,360
$424.4K
Cap Rate 7%
$303,114
$303.1K
Cap Rate 9%
$235,756
$235.8K
Market Conditions
NOI Build-Up for 1,620 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
$32.1K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.3K $18.71/SF
− OpEx
−$9.1K −$5.61/SF
NOI
$21.2K $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%
$424,360
Cap Rate 7%
$303,114
Cap Rate 9%
$235,756
Alternative Uses
Best Use
Multifamily LT 5
$303.1K
$265.2K – $353.6K
NOI $21,218 @ 7.0% cap · market cap 3.14%
Second Best
Apartment 5plus
$262.2K
$229.4K – $305.9K
NOI $18,353 @ 7.0% cap · market cap 2.72%
Theoretical Best
Office A
$416.6K
$364.5K – $486.0K
NOI $29,160 @ 7.0% cap · market cap 4.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
888
Businesses Nearby
Explore this area
Business Placement
Demographics for 77009, TX
36,425
Population
17,890
Households
2
Avg Household Size
37
Median Age
39%
College-Educated
78%
High-School Grad
6.2 sq mi
ZIP Area
5,875
Density / Sq Mi
$81,921
Median Household Income
$49,446
Median Earnings
$1,229
Median Rent
$403,600
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 1-bedroom units each include living, dining, and kitchen space, with original hardwood floors and a dedicated parking pad.
Where is this duplex located?
The property is located at 2621 & 2623 Beauchamp Street Houston, TX.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 1920s duplex bungalow on a 6,600 SF corner lot in the Heights; Two 1‑bedroom, 1‑bath units; each unit has living room, dining room, and kitchen (approx. 810 SF per unit); Original hardwood floors in both residences; front living room could serve as a second bedroom
