Duplex with Private
For Sale
$778,000
3012 & 3014 Beulah St, Houston, TX 77004
Modern duplex in Houston’s Third Ward with private 2-car garages per unit and private back yards.
Property Size4,036 SF
Price / SF$192.77
Days on Market51
Property Features for 3012 & 3014 Beulah St
General Information
Standard status
Active
Size
4,036 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Amenities
chef-style kitchen
spa-inspired ensuite
private back yard
secondary living with drive bar
soaring ceilings
Plank,Tile,Vinyl
Yes
3
Washer Hookup,Dryer Hookup
Builder
Quartz Counters
Partial
5000
More than Two
Appraiser
4036
Building Details
Building Size
4,036 SF
Year Built
2026
Buildings
1
Stories
2
Tenancy
Multi
Listing Agency:
HomeLand Properties, Inc
(281) 444-5140
Listed By:
Pam & Tony Levinson
(281) 705-2863
Source:
Garygreene
Added: Jul 27
Changed: Sep 15
Last Checked: Sep 15 at 4:19AM
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 HomeLand Properties, Inc
Investment Insights
Based on property information with market context.
Presenting Beulah Villas Duplex, a modern new construction duplex residence in Houston’s historic Third Ward. The property offers 6 beds and 6.5 baths with over 4,000 SF of thoughtfully planned living space. The open-concept first floor is anchored by a chef-style kitchen that flows into the dining and expansive living areas. Upstairs, there is a secondary living space with a drive bar, and the primary suite includes soaring ceilings, abundant natural light, and a spa-inspired ensuite with dual vanities. Additional bedrooms provide generous space and closet storage.
Each unit is complemented by a private 2-car garage and a private back yard. Area mobility is supported by BikeScore of 70 (Very Bikeable), WalkScore of 78 (Very Walkable), and TransitScore of 63 (Good Transit).
Each unit is complemented by a private 2-car garage and a private back yard. Area mobility is supported by BikeScore of 70 (Very Bikeable), WalkScore of 78 (Very Walkable), and TransitScore of 63 (Good Transit).
Key Highlights
- New construction built in 2026: Beulah Villas duplex in Houston’s Third Ward
- Duplex offers 6 beds and 6.5 baths with over 4,000 SF of living space
- Open‑concept first floor with chef‑style kitchen flowing into dining and expansive living
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
$52,862
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
6.79%
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%
$1,057,240
$1.1M
Cap Rate 7%
$755,171
$755.2K
Cap Rate 9%
$587,356
$587.4K
Market Conditions
NOI Build-Up for 4,036 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
$79.9K $19.80/SF
− Vacancy
−$4.4K −$1.09/SF
EGI
$75.5K $18.71/SF
− OpEx
−$22.7K −$5.61/SF
NOI
$52.9K $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%
$1,057,240
Cap Rate 7%
$755,171
Cap Rate 9%
$587,356
Alternative Uses
Best Use
Multifamily LT 5
$755.2K
$660.8K – $881.0K
NOI $52,862 @ 7.0% cap · market cap 6.79%
Second Best
Apartment 5plus
$653.2K
$571.6K – $762.1K
NOI $45,725 @ 7.0% cap · market cap 5.88%
Theoretical Best
Office A
$1.04M
$908.1K – $1.21M
NOI $72,648 @ 7.0% cap · market cap 9.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
900
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 - Modern duplex in Houston’s Third Ward with private 2-car garages per unit and private back yards.
Where is this duplex located?
The property is located at 3012 & 3014 Beulah St Houston, TX.
What is the asking price?
The asking price for this property is $778,000.
What are key features of this property?
This property features: New construction built in 2026: Beulah Villas duplex in Houston’s Third Ward; Duplex offers 6 beds and 6.5 baths with over 4,000 SF of living space; Open‑concept first floor with chef‑style kitchen flowing into dining and expansive living
