Four-Unit Duplex
For Sale
$1,245,000
322 E 37th St, Houston, TX 77018
Two newly built duplexes feature separate utility meters and private entrances for each residence.
Property Size5,688 SF
Price / SF$218.88
Days on Market27
Property Features for 322 E 37th St
General Information
Standard status
Active
Size
5,688 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Independence Heights Civic Association
Utilities to Site
Yes
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Building Details
Buildings
2
Listing Agency:
Compean Group
Listed By:
Evan Compean · License #0617930
(832) 777-3904
Source:
Exprealty
Added: Sep 28
Changed: Oct 21
Last Checked: Oct 23 at 7:24AM
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 Compean Group
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Investment Insights
Based on property information with market context.
This Houston property comprises two duplexes with four residences totaling 5,688 square feet. Each duplex measures 2,844 square feet, and each home is configured with three bedrooms and two full bathrooms. Interior features include quartz countertops, LVP flooring, bedroom ceiling fans, spacious closets, and a stainless steel kitchen appliance package with a dishwasher and gas range. Each residence has a private entrance and its own water, electric, and gas meters.
The duplex at 322 E 37th St occupies two lots totaling 5,200 square feet; the property at 710 E 32nd 1/2 St sits on a 4,000-square-foot lot. Driveways are planned, with space for four cars per duplex. Construction completion is scheduled for October 31, 2026.
The duplex at 322 E 37th St occupies two lots totaling 5,200 square feet; the property at 710 E 32nd 1/2 St sits on a 4,000-square-foot lot. Driveways are planned, with space for four cars per duplex. Construction completion is scheduled for October 31, 2026.
Key Highlights
- Two duplexes provide four residences, totaling 5,688 square feet
- Each duplex contains 2,844 square feet; each residence has 3 bedrooms and 2 full bathrooms
- Separate water, electric, and gas meters serve every residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,500
Cap Rate
5.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,490,000
$1.5M
Cap Rate 7%
$1,064,286
$1.1M
Cap Rate 9%
$827,778
$827.8K
Market Conditions
NOI Build-Up for 5,688 SF
Gross rent
$112.6K $19.80/SF
− Vacancy
−$6.2K −$1.09/SF
EGI
$106.4K $18.71/SF
− OpEx
−$31.9K −$5.61/SF
NOI
$74.5K $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 Rate 5%
$1,490,000
Cap Rate 7%
$1,064,286
Cap Rate 9%
$827,778
Alternative Uses
Best Use
Multifamily LT 5
$1.06M
$931.3K – $1.24M
NOI $74,500 @ 7.0% cap · market cap 5.98%
Second Best
Apartment 5plus
$920.6K
$805.5K – $1.07M
NOI $64,440 @ 7.0% cap · market cap 5.18%
Theoretical Best
Office A
$1.46M
$1.28M – $1.71M
NOI $102,384 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,025
Businesses Nearby
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Business Placement
Demographics for 77018, TX
27,870
Population
13,335
Households
2.1
Avg Household Size
38
Median Age
60%
College-Educated
92%
High-School Grad
6.8 sq mi
ZIP Area
4,099
Density / Sq Mi
$121,658
Median Household Income
$75,487
Median Earnings
$1,256
Median Rent
$543,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - Two newly built duplexes feature separate utility meters and private entrances for each residence.
Where is this duplex located?
The property is located at 322 E 37th St Houston, TX.
What is the asking price?
The asking price for this property is $1,245,000.
What are key features of this property?
This property features: Two duplexes provide four residences, totaling 5,688 square feet; Each duplex contains 2,844 square feet; each residence has 3 bedrooms and 2 full bathrooms; Separate water, electric, and gas meters serve every residence
