Remodeled Duplex with Rental
New
For Sale
$400,000
3015 Cleburne Street, Houston, TX 77004
Two updated residences offer distinct bedroom and bathroom configurations, with one unit currently leased.
Property Size2,008 SF
Days on Market4
Property Features for 3015 Cleburne Street
General Information
Standard status
Active
Size
2,008 SF
Property subtype
Multi Family,Duplex
Taxes and HOA fees
Annual Taxes
$6,886
Building Details
Building Size
2,008 SF
Year Built
1930
Listing Agency:
Premier Haus Realty, LLC
Listed By:
Evelyn Laniado
(832) 704-5674
Source:
Livingvoguerealestate
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 2 at 9:19PM
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 Premier Haus Realty, LLC
Investment Insights
Based on property information with market context.
Built in 1930, this duplex contains two remodeled residential units with separate configurations. Unit A includes 2 bedrooms and 1 bathroom, while Unit B provides 3 bedrooms and 2 bathrooms. Unit B is currently rented, adding an existing occupancy component to the property.
The property is within walking distance of TSU and offers access to 288, the Medical Center, and major freeways. Its two-unit layout and varied bedroom counts support a range of residential occupancy needs while maintaining a straightforward multifamily configuration.
The property is within walking distance of TSU and offers access to 288, the Medical Center, and major freeways. Its two-unit layout and varied bedroom counts support a range of residential occupancy needs while maintaining a straightforward multifamily configuration.
Key Highlights
- Two‑unit duplex with remodeled interiors
- Unit A includes 2 bedrooms and 1 bathroom
- Unit B includes 3 bedrooms and 2 bathrooms
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
$26,300
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
6.58%
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%
$526,000
$526.0K
Cap Rate 7%
$375,714
$375.7K
Cap Rate 9%
$292,222
$292.2K
Market Conditions
NOI Build-Up for 2,008 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
$39.8K $19.80/SF
− Vacancy
−$2.2K −$1.09/SF
EGI
$37.6K $18.71/SF
− OpEx
−$11.3K −$5.61/SF
NOI
$26.3K $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%
$526,000
Cap Rate 7%
$375,714
Cap Rate 9%
$292,222
Alternative Uses
Best Use
Multifamily LT 5
$375.7K
$328.8K – $438.3K
NOI $26,300 @ 7.0% cap · market cap 6.58%
Second Best
Apartment 5plus
$325.0K
$284.4K – $379.2K
NOI $22,749 @ 7.0% cap · market cap 5.69%
Theoretical Best
Office A
$516.3K
$451.8K – $602.4K
NOI $36,144 @ 7.0% cap · market cap 9.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,342
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 updated residences offer distinct bedroom and bathroom configurations, with one unit currently leased.
Where is this duplex located?
The property is located at 3015 Cleburne Street Houston, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Two‑unit duplex with remodeled interiors; Unit A includes 2 bedrooms and 1 bathroom; Unit B includes 3 bedrooms and 2 bathrooms
