2020-Built Duplex with Modern
New
For Sale
$270,000
26471 Joy Village Dr, Splendora, TX 77372
Each residence offers open-concept living, two full bathrooms, and no HOA restrictions.
Property Size2,115 SF
Lot Size0.37 Acres
Days on Market2
Property Features for 26471 Joy Village Dr
General Information
Standard status
Active
Size
2,115 SF
Lot size
0.37 Acres
Property subtype
Investment
Additional Details
Highway Access
Yes
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,065
Building Details
Building Size
2,115 SF
Year Built
2020
Buildings
1
Stories
1
Listed By:
CeMon Johnson
(713) 440-3912
Source:
Elliman
Added: Sep 4
Last Checked: Sep 4 at 2:30PM
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 CeMon Johnson
Investment Insights
Based on property information with market context.
Built in 2020, this duplex places two residences on an oversized 16,000+ square-foot lot. Both units feature open-concept interiors, granite countertops, black appliances, two full bathrooms, wood-look luxury vinyl plank flooring, double-pane windows, and contemporary finishes. The property also provides ample parking and outdoor space.
The duplex is located near I-45 and Grand Parkway (99), with shopping, dining, and major employment centers in the surrounding area. Walk Score is 1 and Bike Score is 29, reflecting a primarily automobile-oriented setting.
No HOA restrictions apply. The combination of newer construction, two-bathroom layouts, durable interior finishes, and a substantial lot defines the property’s practical configuration.
The duplex is located near I-45 and Grand Parkway (99), with shopping, dining, and major employment centers in the surrounding area. Walk Score is 1 and Bike Score is 29, reflecting a primarily automobile-oriented setting.
No HOA restrictions apply. The combination of newer construction, two-bathroom layouts, durable interior finishes, and a substantial lot defines the property’s practical configuration.
Key Highlights
- Duplex built in 2020
- Two full bathrooms in each unit
- Open‑concept layouts with granite countertops and black appliances
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
$23,588
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
8.74%
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%
$471,760
$471.8K
Cap Rate 7%
$336,971
$337.0K
Cap Rate 9%
$262,089
$262.1K
Market Conditions
NOI Build-Up for 2,115 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
$36.0K $17.04/SF
− Vacancy
−$2.3K −$1.11/SF
EGI
$33.7K $15.93/SF
− OpEx
−$10.1K −$4.78/SF
NOI
$23.6K $11.15/SF
Area
Montgomery County, TX
Vacancy
6.50%
Lease Rate
$17.04 /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%
$471,760
Cap Rate 7%
$336,971
Cap Rate 9%
$262,089
Alternative Uses
Best Use
Multifamily LT 5
$337.0K
$294.9K – $393.1K
NOI $23,588 @ 7.0% cap · market cap 8.74%
Second Best
Apartment 5plus
$317.5K
$277.8K – $370.4K
NOI $22,222 @ 7.0% cap · market cap 8.23%
Theoretical Best
Specialty Retail
$533.9K
$467.2K – $622.9K
NOI $37,376 @ 7.0% cap · market cap 13.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
132
Businesses Nearby
Explore this area
Business Placement
Demographics for 77372, TX
13,306
Population
4,779
Households
2.8
Avg Household Size
36
Median Age
12%
College-Educated
80%
High-School Grad
51.5 sq mi
ZIP Area
258
Density / Sq Mi
$78,601
Median Household Income
$38,263
Median Earnings
$1,226
Median Rent
$217,600
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 - Each residence offers open-concept living, two full bathrooms, and no HOA restrictions.
Where is this duplex located?
The property is located at 26471 Joy Village Dr Splendora, TX.
What is the asking price?
The asking price for this property is $270,000.
What are key features of this property?
This property features: Duplex built in 2020; Two full bathrooms in each unit; Open‑concept layouts with granite countertops and black appliances
