Updated Duplex With Two
For Sale
$500,000
2806 Cleburne Street, Houston, TX 77004
Two separate residences support student housing, multigenerational living, or rental use near UH and TSU.
Property Size2,480 SF
Lot Size0.11 Acres
Days on Market119
Property Features for 2806 Cleburne Street
General Information
Standard status
Active
Size
2,480 SF
Lot size
0.11 Acres
Property subtype
Multi Family,Duplex
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$8,590
Amenities
wrought iron gate entry
Building Details
Building Size
2,480 SF
Year Built
1944
Buildings
1
Listing Agency:
Keller Williams Realty Metropolitan
(713) 478-1007
Listed By:
Yvonne Bonner-Holley · License #0489583
(713) 478-1007
Source:
Livingvoguerealestate
Added: Apr 28
Changed: Aug 17
Last Checked: Aug 23 at 7:43AM
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 Keller Williams Realty Metropolitan
Investment Insights
Based on property information with market context.
This 1944 duplex contains two distinct residential units and has undergone updates to the kitchen, plumbing, and electrical systems. Wrought iron gates provide a secured entry, while the two-unit configuration supports student housing, multigenerational occupancy, or rental use.
The property occupies a 5000 sf lot at 2806 Cleburne Street in Houston’s 77004 area. UH and TSU are located blocks away, with Downtown Houston, the Medical Center, Midtown, major freeways, parks, dining, and neighborhood amenities described as minutes or within walking distance. New development is also present in the surrounding area.
The property occupies a 5000 sf lot at 2806 Cleburne Street in Houston’s 77004 area. UH and TSU are located blocks away, with Downtown Houston, the Medical Center, Midtown, major freeways, parks, dining, and neighborhood amenities described as minutes or within walking distance. New development is also present in the surrounding area.
Key Highlights
- Two separate residential units in one duplex
- Updated kitchen, plumbing, and electrical systems
- Wrought iron gated entry
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
$32,482
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
6.50%
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%
$649,640
$649.6K
Cap Rate 7%
$464,029
$464.0K
Cap Rate 9%
$360,911
$360.9K
Market Conditions
NOI Build-Up for 2,480 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
$49.1K $19.80/SF
− Vacancy
−$2.7K −$1.09/SF
EGI
$46.4K $18.71/SF
− OpEx
−$13.9K −$5.61/SF
NOI
$32.5K $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%
$649,640
Cap Rate 7%
$464,029
Cap Rate 9%
$360,911
Alternative Uses
Best Use
Multifamily LT 5
$464.0K
$406.0K – $541.4K
NOI $32,482 @ 7.0% cap · market cap 6.50%
Second Best
Apartment 5plus
$401.4K
$351.2K – $468.3K
NOI $28,096 @ 7.0% cap · market cap 5.62%
Theoretical Best
Office A
$637.7K
$558.0K – $744.0K
NOI $44,640 @ 7.0% cap · market cap 8.93%
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
1,362
Businesses Nearby
Explore this area
Business Placement
Demographics for 77004, TX
37,005
Population
18,321
Households
2
Avg Household Size
31
Median Age
57%
College-Educated
96%
High-School Grad
5.2 sq mi
ZIP Area
7,116
Density / Sq Mi
$65,901
Median Household Income
$55,909
Median Earnings
$1,320
Median Rent
$384,100
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 - Two separate residences support student housing, multigenerational living, or rental use near UH and TSU.
Where is this duplex located?
The property is located at 2806 Cleburne Street Houston, TX.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Two separate residential units in one duplex; Updated kitchen, plumbing, and electrical systems; Wrought iron gated entry
